Best AFM Faculty for CA Final (May 2027): 7 Options Compared on Facts

There is no single best AFM faculty for CA Final. For May 2027, the right one depends on the language you follow best, whether you want live classes or recordings, how many months you have left and which AFM chapters slow you down. The seven below are listed alphabetically, not ranked.

Pick a course you can finish by February, and judge it on a forex or derivatives demo, not the introduction.

TL;DR

• Published full courses for May 2027 run from 180 to about 300 hours and start at ₹7,499.
• English courses: Aaditya Jain, Adish Jain and Sankalp Kanstiya.
• ICAI gives sections II and III, security analysis to derivatives, 20% to 30% each.
• ICAI's free live AFM classes for May 2027 run on Monday and Wednesday mornings.

Who are the well-known AFM faculty for CA Final (May 2027)?

These are the first seven faculty in the CA Final AFM section of a large course platform, in its default order, on 23 October 2026. Facts come from each faculty's course listing on that platform. Prices are the lowest shown for May 2027 and change often. Anything a listing did not state is left out.

CA Aaditya Jain

Hindi-English mix, on Google Drive or app with printed books. The listing gives 200 hours with his handwritten class notes or 300 hours without them, 24 months' validity and a 1.5x view limit. Price from ₹12,499. Four demos are linked. An English course of about 150 hours starts at ₹9,999. Covers May 2027 onwards.

CA Adish Jain

Credentials stated: former equity research analyst with Morgan Stanley and ICICI Securities. May 2027 buyers get the April 2026 recording: 200 hours in Hindi-English mix on Google Drive, app or pen drive, with 24 months' validity and a 1.7x view limit. Price from ₹9,399 with books. Lecture 1 is the demo. An English course of 200 hours costs ₹8,000.

CA Pavan Karmele

Credentials stated: Fellow member of ICAI, M.Com in finance, 10+ years of teaching. 180 hours in Hindi-English mix, recorded in May 2026, on Google Drive with printed books, with 2 years' validity and a 2x view limit. Price ₹9,999. An introduction lecture is the demo. Covers May 2027 to May 2028.

CA Pratik Jagati

Credentials stated: Chartered Accountant since 2016. 230 hours in Hindi-English mix, recorded from June 2026, on Google Drive, app, or live with the course that began on 11 June 2026. Validity is 12 or 24 months with a 1.8x view limit. Price from ₹8,599 without printed books. A demo is linked. Listed for November 2026 to November 2027.

CA Praveen Khatod

Credentials stated: CA and CFA. 250 hours in Hindi-English mix, with printed books. A new course went live on 16 September 2026; a September 2025 recording sells on Google Drive. Validity is 12 or 24 months with a 2x view limit, or unlimited views for more. Price from ₹10,999. Lecture 1 is the demo. Covers May 2027 to November 2028.

Prof. Sanjay Saraf

For May and November 2027 the listing sells his July 2026 course, live from 13 July to November 2026, weekdays 7 to 9 am. It runs about 250 to 300 hours in Hindi-English mix, with printed books, 24 months' validity and a 1.5x view limit. Price ₹10,799. His first class is the demo, and free amendment and revision videos go on YouTube.

CA Sankalp Kanstiya

200 hours in Hindi-English mix, recorded in July 2026, on Google Drive or app, with 36 months' validity and a 1.5x view limit. A "Live Guidance" option streams it with regular Zoom sessions at the same price. Price from ₹7,499 without printed books. Two demos are linked. An English course of 210 hours also starts at ₹7,499. Covers up to November 2029.

Check which recording your attempt gets before you pay.

Fact-based picks

• English courses: Aaditya Jain (about 150 hours), Adish Jain (200 hours), Sankalp Kanstiya (210 hours).
• Shortest full course: Pavan Karmele, 180 hours. Longest: Aaditya Jain and Sanjay Saraf, up to about 300 hours.
• Live classes for May 2027: Pratik Jagati, Praveen Khatod, Sanjay Saraf. Streamed recording with Zoom sessions: Sankalp Kanstiya.
• Longest validity: Sankalp Kanstiya, 36 months.
• Lowest starting price for a full course here: Sankalp Kanstiya, ₹7,499 without printed books.

These labels come from the listings, not from my view of anyone's teaching. Comparing other papers too? See our subject-wise CA Final faculty guide.

What must a good AFM faculty cover for May 2027?

Which study material applies?

ICAI's AFM study material page marks the November 2024 edition (reprint August 2025) as applicable for May 2026 exams onwards, and ICAI's list for November 2026 names the same edition. ICAI's attempt-wise list for May 2027 was not out on 23 October 2026. This edition replaces LIBOR at most places with alternative reference rates such as SOFR and SONIA, so older notes will not match.

How does ICAI weight the sections?

ICAI's section-wise weightage, in force from May 2024:

• Section I, chapters 1 to 3: 8% to 15%.
• Section II, chapters 4 to 6 (security analysis, valuation, portfolio): 20% to 30%.
• Section III, chapters 7 to 9 (securitization, mutual funds, derivatives): 20% to 30%.
• Section IV, chapters 10 to 12 (forex, international finance, interest rates): 20% to 25%.
• Section V, chapters 13 and 14 (business valuation, mergers): 10% to 15%.
• Section VI, chapter 15 (startup finance): 2% to 5%.

What does the AFM paper look like?

AFM is Paper 2 of Group I: 100 marks in 3 hours. ICAI's guidance note for November 2026 sets 30 marks of case-scenario MCQs (1 or 2 marks each, no negative marking) and 70 marks of descriptive questions. In May 2026, Part I had 15 MCQs of 2 marks each. In Part II, Question 1 was compulsory, you answered four of the other five, and each carried 14 marks. More in our CA Final groups and subjects guide and the ICAI paper pattern under the new scheme.

Which chapters lean hardest on the calculator?

Derivatives, forex, portfolio management and business valuation. The guidance note allows a calculator with up to 6 functions, 12 digits and two memories, and bans scientific ones. For e-power and log values, the study material's appendix has the tables. A good course solves these sums in class on that kind of calculator, with the tables.

So for May 2027, pick a course on the current edition that gives sections II to IV real time.

How do you judge an AFM demo lecture?

1. Ask for a demo on forex or option valuation rather than the introduction.
2. Check that the faculty works the sums on a 12-digit, non-scientific calculator and uses ICAI's tables.
3. See whether each answer states its assumptions and carries working notes.
4. Look for SOFR and other alternative reference rates in the notes, not LIBOR.

After the demo, solve one of its questions alone. If you cannot, try the next name.

What free AFM resources does ICAI give?

• Study material: the November 2024 edition on ICAI's AFM study material page.
• RTP and MTP: the BoS RTP page (May 2027 RTP not out yet) and the BoS mock test papers page.
• Past papers: ICAI's Final question papers page and suggested answers such as May 2026. Our CA Final suggested answers post shows how to use them.
• Free live virtual classes for May and November 2027: AFM began on 20 July 2026, on Monday and Wednesday, 7 am to 10 am, after registration. ICAI lists unlimited access to recordings, with ICAI CA Tube as one way to watch.

ICAI's material and live classes cost nothing, so pay only for the help you still lack. Choosing for FR too? Our FR faculty guide uses the same method.

Where do students lose marks in AFM?

What I see in checked AFM copies:

• No working notes. The May 2026 paper asked for them, and without them one wrong figure hides every right step.
• Bases left unstated. Write the day count, compounding basis and quote type so the checker can follow you.
• Skipped theory. May 2026 had 4-mark theory parts, such as Elliott Wave Theory.
• Too long on one question. At 100 marks in 3 hours, a 14-mark question is worth about 25 minutes.

Timed full papers show which of these are yours before the exam does.

Whichever faculty you choose, write full AFM papers and get them checked. In Gradehunt's CA Final test series you write by hand and upload, and an ex-examiner checks each paper within 48 hours with step-wise marks. The first paper is checked free.