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Transwarranty Finance Limited

TFL.NS
30
Investment - Banking & Investment Services · Financial Services
Price
₹11.99
+0.18 (+1.52%)
Market Cap
₹660.8M
Exchange
National Stock Exchange of India
Winston Score
30
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Sep 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Mixed
Cash Flow
Mixed
Stability
Data not available
Valuation
Data not available
Dividends
Mixed
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Share count rising — dilution

+104.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 26.7M (2022) → 54.6M (2026)

§Winston Score History

The full picture

Transwarranty Finance Limited, a non-banking finance company, provides financial services in India. The company offers investment banking services, including private equity syndication, mergers and acquisitions, restructuring and structured funding; and corporate finance services, such as financial advice and execution to raise external commercial borrowings, rupee term loan, fund based, and non-fund based working capital finance, project finance, and structured finance. It also provides trade finance services comprising letter of credit and clean bills discounting, factoring, inter corporate deposits, loans against property, loans against shares/promoter funding, import and export finance services; small and medium enterprise loans; margin funding; and personal finance for holiday, education, and other specific end use. In addition, the company involved in retail stock broking, depository participation, institutional broking, arbitrage, distribution of mutual funds, IPO, and other financial products; manages initial public offers/follow on offers/rights issues and debt issues, placement of equity shares with QIP/private equity funds and preference shares, corporate restructuring, valuations of companies/enterprises/share, listing services on National Stock Exchange and Bombay Stock Exchange, buy back of shares, take over and offer for sale, ESOPs, and certifications. It serves small, medium, and large companies, as well as retail clients. Transwarranty Finance Limited was incorporated in 1994 and is headquartered in Mumbai, India.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-27.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+87.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

₹0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Transwarranty Finance Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
46.0%
Healthy — 46.0% gross margin
Profit after running costs
Operating Margin
3.4%
Thin — 3.4% operating margin
Return on the money invested
ROCE
-8.8%
Weak — -8.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+18.9%
Fast-growing sales (+18.9% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
72.5%
Converts sales into free cash efficiently (72.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
—
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
2.50%
Moderate income — 2.50% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
N/A
Data not available

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