Mantra Capital Limited

Operates as an RBI-regulated non-banking finance company (NBFC) that lends to underserved entrepreneurs and small businesses in Tier-3 and Tier-4 towns, with a specific thrust on green-mobility and electric-vehicle financing. Lending operations formally launched in September 2024; AUM scaled from Rs 1 crore at launch to Rs 123 crore by Q1 FY27, with 3,042 cumulative loans disbursed and the loan book 100 percent secured. Revenue comes almost entirely from interest on this loan book — interest income of Rs 1,380.25 lakhs drove FY26 total revenue of Rs 1,632.25 lakhs, nearly five times the prior year. The business runs 20 branches across Karnataka, Telangana, Andhra Pradesh and Delhi NCR with 169 staff, and has onboarded EV-OEM partnerships with Mahindra Last Mile Mobility, Omega Seiki Mobility, Euler Motors and Greaves Electric for three-wheeler financing, plus co-lending arrangements with AU Small Finance Bank and Singularity. Costs are dominated by employee expenses at 85.2 percent of revenue and finance costs (Rs 600.19 lakhs in FY26, Rs 307.13 lakhs in Q1 FY27) on borrowings of Rs 9,095 lakhs, leaving the company in net loss at the FY26 and Q1 FY27 stage.