Company Overview & Strategy

Moneyboxx Finance Limited is a listed, founder-led NBFC building a platform for underserved MSME credit, rural productive-asset finance, and green and digital lending. Its current strategy focuses on building a stronger book through secured MSME lending, livestock finance, rooftop solar, and digital small-ticket lending. The company is transitioning from a single-product NBFC to a diversified, secured, and operating-leverage-driven platform.

Portfolio Transformation & Key Metrics

The core narrative is a material improvement in portfolio quality compared to FY24 and FY25.

  • Secured Disbursements: Increased to 87% in Q1 FY27 from 25% in FY24.
  • Ticket Size: ~70% of Q1 FY27 disbursements were above ₹5 lakh, up from ~5% in FY24.
  • Credit Profiles: ~75% of Q1 FY27 disbursements had a bureau score of 650+, up from ~56% in FY24.
  • Capital Adequacy: CRAR stood at 28.7% in Q1 FY27 and ~29% as of the presentation.

Growth Targets & Financial Trajectory

  • AUM Growth: Targets a ~36% CAGR from FY26 to FY31E. FY28E AUM is targeted at ₹1,715 crore.
  • Secured AUM: Aims to increase the secured share of AUM to ~85% by FY28.
  • Operating Leverage: Targets reducing opex to average AUM to about 8.8% by FY29 from 12.8% in FY26.
  • Cost of Funds: Aims to reduce the average borrowing cost below 10% in the medium term; it was 12.5% in Q1 FY27.

The Four Growth Engines

1. MSME Secured Loans: Focus on ₹5-30 lakh LAP and business loans, targeting an estimated ₹10 Tn credit gap for tickets up to ₹10 lakh.

2. Livestock Finance: Recurring cash flows from dairy, supported by partnerships (e.g., Akshayakalpa) that provide FLDG cover and lower opex.

3. Rooftop Solar Finance: FY27 target is 10% share of AUM. Borrower energy savings improve repayment capacity. All solar loans are covered by a Second-Loss Default Guarantee (SLDG). The company has financed 365+ MSMEs, over 7 MWp of capacity, and has disbursed over ₹15 crore.

4. Digital Small-Ticket Lending: Focus on low-cost acquisition for nano and micro-enterprises at higher yield.

Asset Quality & Credit Cost

Asset quality metrics show significant improvement in Q1 FY27 compared to FY26, following an ARC-led cleanup of legacy stress.

| Metric | FY26 | Q1 FY27 |

| 30+ PAR | 8.40% | 6.34% |

| 90+ PAR | 6.25% | 2.71% |

| GNPA | 3.59% | 0.73% |

| NNPA | 1.75% | 0.36% |

| Credit Cost | 3.32% | 1.02% |

Funding & Liability Franchise

The company has a diverse funding base.

  • Lender Relationships: 34 total lenders and partners, including 11 bank partners as of FY26.
  • Funding Mix: NCDs constituted 40% of total borrowings in FY26.
  • Cost Trend: The average cost of funds has declined from 16.1% in FY22 to 12.7% in FY26.

Technology & Operations

  • Moneyboxx ONE: In-house loan origination system live across branches since May 2026.
  • Cattle AI: Proprietary technology for unique cattle identification and monitoring.
  • Sikka App: Reported 1.7 lakh downloads in twelve months, collected ₹8.5 crore in EMIs, and facilitated over 17,000 recurring deposits.
  • Collections: A 300-person collections team supported by legal recourse under Section 138 and SARFAESI.

Management & Governance

The company is founder-led.

  • Deepak Aggarwal: Co-founder, Co-CEO, and CFO. Chartered Accountant with 20+ years at Bank of America, KPMG, GE Capital, Infosys, and Deutsche Bank.
  • Mayur Modi: Co-founder, Co-CEO, and COO. Chartered Accountant with 20+ years at GE Capital, JP Morgan, and HSBC.

The Board includes independent directors with experience from the RBI, SBI, and MFIN.

Equity Funding History

The company has raised a cumulative ₹302 crore in equity through FY26 across six rounds (FY20 to FY26), with high investor retention.

Key Risks Disclosed

The presentation lists several key risks and mitigants:

  • Asset Quality: Mitigated by a secured mix, tighter underwriting, and FLDG/SLDG structures.
  • High Operating Cost: Mitigated by higher ticket sizes, branch productivity, and partnership models.
  • Funding Cost: Mitigated by bank relationships, PSL eligibility, and a rating improvement roadmap.
  • Execution Risk: Mitigated by experienced leadership and owned technology systems.

Historical Financials (₹ crore)

| Income Statement | FY23 | FY24 | FY25 | FY26 |

| Total Income | 50 | 128 | 199 | 232 |

| Net Interest Income & Fees | 29 | 85 | 136 | 149 |

| Operating Expenses | 35 | 67 | 105 | 116 |

| Operating Profit | -7 | 18 | 31 | 33 |

| Credit Cost | 3 | 7 | 28 | 31 |

| Profit After Tax | -7 | 9 | 1 | 1 |

| Balance Sheet | FY23 | FY24 | FY25 | FY26 |

| Financial Assets | 313 | 638 | 885 | 936 |

| Loan Book | 243 | 490 | 678 | 688 |

| Cash & Bank Balances | 64 | 114 | 166 | 143 |

| Equity | 76 | 169 | 261 | 296 |

| Total Assets | 331 | 669 | 939 | 995 |