UGRO CAPITAL LIMITED

Lends to small and emerging businesses in India, primarily through two focus areas: small-ticket secured loans against property distributed through a 317-branch network across 13 states (EM-LAP), and embedded merchant financing via the MyShubhLife platform. As of Q4 FY26, total assets under management stood at ₹15,334 crore, with the two focus verticals together forming 38% of AUM and an older Prime Intermediated book being run down at 15-20% annually. Revenue comes mainly from interest on the loan book — Q4 FY26 interest income was ₹415 crore — plus co-lending and direct-assignment income of ₹155 crore in the same quarter. The biggest input cost is interest on borrowings, which has fallen 45 bps year-on-year; employee costs run at 15.3% of revenue and other operating expenses at 12.2%. The Profectus Capital acquisition was consolidated from 8 December 2025, and an amalgamation scheme has been filed with NCLT Mumbai. Reported asset quality: gross NPA 2.5%, net NPA 1.6%, collection efficiency 98%.