Press Release on Audited Financial Results for period ended March 31, 2025
FINKURVE · price
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Finkurve Financial Services (brand: Arvog), a gold-loan-focused NBFC, announced its audited Q4 and FY25 results with strong business growth. Assets under Management rose 69.40% year-on-year to INR 439.52 crore, with branch network expanding from 60 to 73 (up 21.66%). Total income grew 56% YoY to INR 141.06 crore in FY25, while Q4 income jumped 73% YoY to INR 40.43 crore. However, Q4 profit after tax slipped to INR 3.91 crore from INR 4.89 crore, and full-year PAT rose a modest 8% YoY to INR 17.41 crore, as the company transitioned from a partnership-based gold-loan model to direct lending. Asset quality stayed healthy with Gross NPA at 0.94% and capital adequacy at 44.94%; the firm also raised INR 49 crore through NCDs and formed a co-lending partnership with RBL Bank.
Mixed signals for shareholders: business growth and AUM expansion are strong, but Q4 earnings dipped on account of the model transition, suggesting near-term margin pressure despite the long-term growth story. Healthy capital position (44.94% CAR), low NPAs, and a doubling of debt-equity ratio indicate the company is investing for scale, which may support future returns but increase financial risk.