Finkurve Financial Services Limited has informed the Exchange about Transcript
FINKURVE · price
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Filing contains the transcript of Finkurve's maiden Q3 FY26 earnings call. AUM grew 118% YoY to Rs 833 crore and branch network expanded to 98 from 72. PAT rose 24% YoY and 18% QoQ, while NPAs stayed sub-2% (vs industry ~3%). Management guided 40-50% AUM growth and 50-60 new branch additions over the next year, with leverage targeted to rise from the current 1.67x to 3-4x. The CFO explicitly guided NIM contraction from the current 15% toward the industry range of 11-12% as leverage builds, and confirmed cost of borrowing should also rationalize with credit rating improvement. The company plans to remain a pure-play gold NBFC for the next 5 years, with co-lending targeted at 10-15% of overall AUM. Interest rate charged to customers held steady at ~19.5%.
Strong headline growth and low NPAs are positives for shareholders, but the explicit NIM contraction guidance signals clear near-term margin pressure as the company ramps leverage. Return ratios (ROE 8-9%, ROA 3.5-4%) are below industry norms and will take time to improve. The pure-play gold loan focus offers clarity but leaves the business exposed to gold price and regulatory cycles in this single asset class.