We wish to inform you that Crisil Ratings Limited has reaffirmed the credit ratings assigned as mentioned in the attachment.
FINKURVE · price
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Crisil Ratings has reaffirmed its 'Crisil BBB/Stable' rating on Finkurve Financial Services' (brand: Arvog) bank facilities and non-convertible debentures, while the total rated amount has been increased. Bank loan facilities were enhanced from Rs.125 crore to Rs.200 crore, and Rs.100 crore of new NCDs were assigned the same rating, in addition to the existing Rs.100 crore NCDs also being reaffirmed. The company is an NBFC focused on gold loans (90% of AUM), with AUM of Rs.542 crore and networth of Rs.322 crore as of June 30, 2025, supported by a Rs.111.5 crore equity infusion in Q1 FY26. Gross NPAs remain low at 0.4%, and the company reported Rs.5 crore PAT in Q1 FY26.
The reaffirmed BBB/Stable rating signals steady credit quality and continued lender confidence, while the enhanced bank loan and new NCD limits give the company more room to grow its lending book. For shareholders, this is a neutral-to-mildly-positive development as it expands funding capacity without any change in the cost-of-borrowing grade.