Key Business Performance Metrics - Q1 FY27

AUM Composition (as of June 2026)

  • Total AUM: ₹1,599.23 Crore
  • Mediclaim Financing: ₹676.61 Crore (42% of AUM)
  • Climate Financing: ₹410.83 Crore (26% of AUM)
  • Other Loans (MSME): ₹458.84 Crore (29% of AUM)
  • Salary Saathi: ₹52.97 Crore (3% of AUM)

Mediclaim Financing Performance (Q1 FY27 vs Q1 FY26)

  • Total Disbursement: ₹247.08 Crore, up 56.2% YoY from ₹158.18 Crore
  • Loan Count: 48,214 loans, up 48.4% YoY from 32,500 loans
  • Monthly Breakdown:
  • April 2026: 14,502 loans (₹75.22 Cr) vs April 2025: 13,035 loans (₹68.89 Cr) - +11.3% growth
  • May 2026: 16,074 loans (₹83.06 Cr) vs May 2025: 9,360 loans (₹41.54 Cr) - +71.7% growth
  • June 2026: 17,638 loans (₹88.80 Cr) vs June 2025: 10,105 loans (₹47.75 Cr) - +74.6% growth
  • Average Ticket Size: ₹55,000
  • Yield (IRR): 18-24%
  • Insurance Partners: 10+ insurer partners

Salary Saathi Performance (Q1 FY27 vs Q4 FY26)

  • Total Disbursement: ₹38.20 Crore, up 38.4% QoQ from ₹27.61 Crore
  • State-wise Breakdown:
  • Rajasthan: ₹24.24 Crore (63.4% of disbursement), down 4.6% QoQ from ₹25.41 Crore
  • Assam: ₹13.96 Crore (36.6% of disbursement), up 535% QoQ from ₹2.20 Crore
  • Average Ticket Size: ₹2,88,000
  • Yield (IRR): 12-20%
  • Expansion: 6+ state government MoUs in progress beyond current Rajasthan and Assam partnerships

Climate Financing Update

  • AUM: ₹410.83 Crore (26% of total AUM)
  • B2C AUM: ₹270.49 Crore
  • B2B AUM: ₹140.34 Crore
  • Average Ticket Size: B2B - ₹1.72 crores, B2C - ₹1.48 crores
  • Yield (IRR): 15-24%
  • OEM Relationships: Tata, Mahindra, Bajaj (since 2016)
  • Quarterly Disbursement Trend: Q1 FY27: ₹51.44 Cr, Q4 FY26: ₹59.9 Cr, Q3 FY26: ₹72.34 Cr, Q2 FY26: ₹101.19 Cr, Q1 FY26: ₹82.97 Cr

Other Loans (MSME) Update

  • AUM: ₹458.84 Crore (29% of total AUM)
  • Yield: 15-18%
  • Collateral: 100% collateral-backed
  • Co-lending: Ready for co-lending
  • Average Ticket Size: ₹60,000-₹25,00,00,000

Financial Metrics - Q1 FY27

  • Profit Before Tax (PBT): ₹18.82 Crore
  • Net Interest Income (NII): ₹35.16 Crore
  • Capital to Risk-weighted Assets Ratio (CRAR): 30.55%
  • Gross NPA: 1.91%

Funding and Borrowings

  • New Lender Facilities (June 2026): ₹125.00 Crore
  • Union Bank: ₹25.00 Crore Term Loan
  • Wint Wealth: ₹100.00 Crore NCD facility
  • Borrowing Mix Trend: FY24-Q1 FY27 shown in presentation
  • Cost of Borrowing: Quarterly trend percentage shown in presentation

Credit Ratings

  • Acuité Rating: A- (Stable)
  • CRISIL Rating: A+ (SO) for securitized pools
  • CRISIL LGD Assignment for Mediclaim Pool: 1% + 0.25% (Q1 FY27)

Operational Efficiency

  • Headcount Reduction: 26.45% decrease while disbursements grew 6.9x
  • Cumulative Disbursements vs Headcount: Operating leverage improvement shown as strongest in company history

Balance Sheet Comparison (Mar-26 vs Mar-25)

  • Loan Book (AUM): ₹1,541.17 Cr (Mar-26) vs ₹838.44 Cr (Mar-25)
  • Total Borrowings: ₹1,397.60 Cr (Mar-26) vs ₹703.67 Cr (Mar-25)
  • Net Worth: ₹574.65 Cr (Mar-26) vs ₹270.25 Cr (Mar-25)
  • Total Assets: ₹2,027.51 Cr (Mar-26) vs ₹1,021.38 Cr (Mar-25)
  • Cash & Liquid Assets: ₹149.07 Cr (Mar-26) vs ₹91.74 Cr (Mar-25)

Management and Governance

  • Promoter: Mr. Kapil Garg
  • Investor Backing: Incofin India Progress Fund
  • New Leadership Appointments: CTO, Group CISO, Head of Strategy, Head of Expansion

Company Background

  • Incorporation: 2016
  • Listing Status: Listed on BSE and NSE
  • RBI Registration: Registered as Non-Banking Financial Company (NBFC)
  • Business Model: Fully digital, branch-light model with pan-India reach
  • Lending Verticals: Four complementary verticals - Mediclaim Financing, Climate Financing, Other Loans (MSME), Salary Saathi