Spandana Sphoorty Financial Limited has informed the Exchange about Transcript
SPANDANA · price
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Spandana Sphoorty reported a net loss of Rs. 1,035 crore for FY25 driven by higher provisions against microfinance industry stress. AUM fell 43% YoY to Rs. 6,819 crore and disbursements dropped 48% to Rs. 5,605 crore as the company tightened credit rules and rationalized lending. Standalone GNPA rose sharply to 4.85% from 1.45% in FY24, while X-bucket collection efficiency improved to 98.9% in March 2025. Management guided for ~20% AUM growth in FY26, expects industry normalization by Q2 FY26 and profitability recovery from Q3 FY26. The company plans a rights issue of up to Rs. 750 crore in Q2 FY26 with promoter Kedaara's participation; it sits on Rs. 2,000 crore liquidity and 37% capital adequacy.
Stock sentiment may remain weak given the Rs. 1,035 crore loss and elevated GNPA, though improving collection trends offer some comfort. The planned promoter-backed rights issue provides capital support but raises dilution overhang in the near term, with any meaningful recovery in earnings pushed to H2 FY26.