Financial Performance Highlights (Standalone)

Q2 FY27 Performance

  • Revenue from operations: ₹34.97 Cr, up 131.4% YoY and 80.5% QoQ
  • Total revenue: ₹35.29 Cr, up 128.6% YoY and 82.0% QoQ
  • Operating EBITDA: ₹32.77 Cr, up 144.3% YoY and 81.9% QoQ
  • Operating EBITDA margin: 93.71% (vs 88.77% in Q2 FY26)
  • EBITDA: ₹33.09 Cr, up 140.8% YoY and 83.6% QoQ
  • EBITDA margin: 93.77% (vs 89.01% in Q2 FY26)
  • Profit after tax (PAT): ₹22.56 Cr, up 175.2% YoY and 96.5% QoQ
  • PAT margin: 63.91% (vs 53.08% in Q2 FY26)
  • Diluted EPS: ₹12.40 per share, up 175.56% YoY

H1 FY27 Performance

  • Revenue from operations: ₹54.35 Cr, up 78.7% YoY
  • Total revenue: ₹54.68 Cr, up 77.9% YoY
  • Operating EBITDA: ₹50.79 Cr, up 97.6% YoY
  • Operating EBITDA margin: 93.45% (vs 84.53% in H1 FY26)
  • EBITDA: ₹51.12 Cr, up 96.4% YoY
  • EBITDA margin: 93.49% (vs 84.70% in H1 FY26)
  • Profit after tax (PAT): ₹34.04 Cr, up 111.9% YoY
  • PAT margin: 62.25% (vs 52.27% in H1 FY26)
  • Diluted EPS: ₹18.71 per share, up 111.89% YoY

Financial Performance Highlights (Consolidated)

Q2 FY27 Performance

  • Revenue from operations: ₹38.84 Cr, up 115.6% YoY and 77.0% QoQ
  • Total revenue: ₹38.85 Cr, up 115.0% YoY and 76.8% QoQ
  • Operating EBITDA: ₹36.25 Cr, up 128.4% YoY and 77.4% QoQ
  • Operating EBITDA margin: 93.35% (vs 88.09% in Q2 FY26)
  • EBITDA: ₹36.27 Cr, up 127.8% YoY and 77.2% QoQ
  • EBITDA margin: 93.35% (vs 88.13% in Q2 FY26)
  • Profit after tax (PAT): ₹25.44 Cr, up 150.4% YoY and 91.1% QoQ
  • PAT margin: 65.49% (vs 56.25% in Q2 FY26)
  • Diluted EPS: ₹13.99 per share, up 150.3% YoY

H1 FY27 Performance

  • Revenue from operations: ₹60.78 Cr, up 62.4% YoY
  • Total revenue: ₹60.83 Cr, up 62.3% YoY
  • Operating EBITDA: ₹56.69 Cr, up 79.4% YoY
  • Operating EBITDA margin: 93.26% (vs 84.40% in H1 FY26)
  • EBITDA: ₹56.73 Cr, up 79.3% YoY
  • EBITDA margin: 93.27% (vs 84.42% in H1 FY26)
  • Profit after tax (PAT): ₹38.76 Cr, up 85.1% YoY
  • PAT margin: 63.72% (vs 55.87% in H1 FY26)
  • Diluted EPS: ₹21.30 per share, up 85.1% YoY

Key Performance Indicators (Standalone as of September 30, 2026)

  • Gross loan book: ₹266.41 Cr
  • Cash & Bank balance: ₹162.1 Cr
  • Net worth: ₹582.2 Cr
  • Debt-equity ratio: 0.22x
  • ROA: 4.95%
  • ROE: 6.02%
  • Gross NPA: 13.47%
  • Net NPA: 10.81%

Product Portfolio and Loan Book Composition

Gross Loan Book: ₹266.4 Cr across 1,700 loans

Product-wise Split:

  • Loan Against Property: ₹191.4 Cr (71.9% of book, 117 loans)
  • Unsecured Business Loan: ₹57.6 Cr (21.6% of book, 42 loans)
  • Trade Finance: ₹13.7 Cr (5.1% of book, 4 loans)
  • Digital Lending: ₹3.7 Cr (1.4% of book, 1,537 loans)

New Business Initiative: Digital Lending

  • Launch Date: September 24, 2026
  • First Week Performance (up to quarter-end): ₹3.7 Cr across 1,537 loans
  • Product Focus: Personal loans for salaried Middle India
  • Operating Model: Fully digital from application to collection, using bank, bureau and GST data for underwriting

Growth Strategy

  • Digital-first NBFC model leveraging India's digital credit infrastructure
  • Asset-light approach without branch network
  • Underwriting based on bank, bureau, and GST data beyond CIBIL scores
  • Focus on entrepreneurs, MSMEs, and salaried Middle India

Balance Sheet Updates (Standalone)

As of September 30, 2026 vs March 31, 2026:

  • Cash and bank balances: ₹162.16 Cr (vs ₹2.56 Cr, significant increase)
  • Loans: ₹258.08 Cr (vs ₹406.75 Cr, -36.6%)
  • Other current assets: ₹195.69 Cr (vs ₹140.32 Cr, +39.5%)
  • Non-current assets: ₹95.03 Cr (vs ₹96.48 Cr, -1.5%)
  • Total assets: ₹710.96 Cr (vs ₹646.10 Cr, +10.0%)
  • Long-term borrowings: ₹112.42 Cr (vs ₹87.68 Cr, +28.2%)
  • Other liabilities: ₹16.32 Cr (vs ₹10.23 Cr, +59.5%)
  • Total liabilities: ₹128.74 Cr (vs ₹97.91 Cr, +31.5%)
  • Total equity: ₹582.23 Cr (vs ₹548.19 Cr, +6.2%)

Balance Sheet Updates (Consolidated)

As of September 30, 2026 vs March 31, 2026:

  • Cash and bank balances: ₹162.55 Cr (vs ₹3.07 Cr, significant increase)
  • Loans: ₹293.72 Cr (vs ₹442.16 Cr, -33.6%)
  • Other current assets: ₹94.53 Cr (vs ₹26.17 Cr, +261.2%)
  • Non-current assets: ₹189.88 Cr (vs ₹191.12 Cr, -0.7%)
  • Total assets: ₹740.68 Cr (vs ₹662.52 Cr, +11.8%)
  • Long-term borrowings: ₹109.75 Cr (vs ₹77.21 Cr, +42.1%)
  • Other liabilities: ₹19.26 Cr (vs ₹12.40 Cr, +55.3%)
  • Total liabilities: ₹129.01 Cr (vs ₹89.61 Cr, +44.0%)
  • Total equity: ₹611.68 Cr (vs ₹572.92 Cr, +6.8%)

Treasury Management Strategy

Company makes selective investments in equities as and when opportunities arise as part of treasury management strategy.

Investor Relations Contact

Pramod Kumar Maheshwari, Chairman & MD