SAHLIBHFI · price
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Shalibhadra Finance, a two-wheeler financier focused on underbanked Western India, posted strong Q1 FY26 results with Profit After Tax rising 35% year-on-year to INR 46 million, driven by a sharp drop in credit cost from 3.5% to 1.0%. Assets Under Management grew 23% YoY to INR 1,825 million and disbursements rose 31% YoY to INR 314 million, even as the broader auto market slowed. Net Interest Income was up 16% YoY at INR 84 million, with Pre-Provisioning Operating Profit at INR 64 million. The company remains strongly capitalised with a Capital Adequacy Ratio of 87%, networth of INR 1,588 million and a conservative 0.2x debt-to-equity ratio. On the corporate front, the Board approved listing on NSE and a 3:1 bonus issue was completed in June 2025; management is targeting 100 branches by FY27 and a loan book of INR 2,750 million.
Profitability growth outpaced loan book expansion and credit costs fell sharply, which are positives for shareholders, though ROE dipped to 11.7% from 13.8% (largely due to the recent equity raise) and margins faced temporary pressure from falling interest rates. The bonus issue and proposed NSE listing should boost liquidity and visibility for retail investors.