How to read: pick a measure above the map. Green tiles are the strongest on it and red the weakest, with grey around the median (lower leverage and lower bad loans count as better). Leverage is how many rupees of assets a lender carries for each rupee of its own capital (assets ÷ equity): NBFCs borrow to lend, so more leverage can lift returns in good times but magnifies losses if loans sour. Switch between measures and watch which names stay green - the safer reading is strong ROE without over-stretching the balance sheet. The Table view shows all the measures side by side.

Why this matters: lenders are priced as a multiple of book value (net worth per share). The model first works out the multiple each company's own profitability and growth would justify, then plots the difference from the actual market multiple. Bars left of zero trade below that justified level - the market is paying less than the fundamentals alone would suggest; bars right of zero carry a premium already built into the price. Treat a big gap as a question to investigate - what is the market worried about, or excited about - not as a verdict.

Why this matters: a decade of reported profit shows the shape of a lender's journey, not just its latest number. Read the character of each line: steady compounding suggests a business that grows through credit cycles, a dip around FY2020-21 usually marks pandemic-era loan losses, and a sharp recent kink is an invitation to ask "what changed?". Toggle between the large-cap and small-cap giants to compare like with like - the profit axis rescales between the two views, so compare the shape of the lines, not their height across views.

Why this matters: NBFCs are not interchangeable - some are monoline specialists (a gold-loan or vehicle-finance house), others are diversified lenders. Read across a row: the deeper and more filled-in the cells, the more spread the book; a single dark cell with the rest faint is a concentrated lender. The Profile column on the right names each lender's dominant product and whether the book is Monoline, Focused or Diversified - concentration sharpens both the opportunity and the risk.

Product key - what each colour means: Vehicle - loans for trucks, cars, tractors and two-wheelers Home / Housing - home loans and loans against property Gold loan - credit secured against pledged gold jewellery Microfinance - small unsecured loans to low-income households Business (SME) - working-capital and term loans to small and medium enterprises Consumer / Personal - retail credit to individuals (durables, personal loans) - not business lending Others - everything else, such as developer finance or loans against securities