Please find enclosed Investor Presentation - Q4FY25 and FY25
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Niyogin Fintech reported FY25 consolidated net revenue of Rs. 67.4 Crores, up 11% YoY, with AUM growing 56% YoY to Rs. 278.8 Crores. The company raised Rs. 56.2 Crores via warrant conversion and Rs. 132 Crores in borrowings, while adjusted EBITDA loss narrowed sharply to ~Rs. 0.6 Crore from Rs. 10.6 Crore. Subsidiary iServeU posted three consecutive quarters of positive EBITDA, with FY25 net revenue of Rs. 39.6 Crores (up 12% YoY) and an order book of ~Rs. 400 Crores across 20 contracts including a Rs. 70 Crore Central Bank of India win. Management has shifted iServeU toward a higher-margin TSP/SaaS model, now contributing 41% of net revenues. FY26 guidance targets 1.8x–2.0x growth in both NBFC AUM (Rs. 500–550 Cr) and iServeU revenue (Rs. 70–80 Cr), with PBT of Rs. 4.5–5 Cr and EBITDA margins of 12–15%.
The presentation signals a clear turnaround story — narrowing losses, strong order book visibility, and aggressive FY26 growth targets could be a positive catalyst for the stock. However, FY26 guidance is ambitious (1.8x–2.0x growth in both segments) and execution on the warrant-funded expansion and pending demerger of iServeU will be key things for investors to watch.