- AUM: INR 15,454 crore as of Dec’25, up 40% YoY
- Net Disbursement: INR 2,217 crore in Q3’FY26 up 6% YoY; INR 5,605 crore in 9M’FY26 up 7% YoY
- Total Income: INR 506.4 crore in Q3’FY26 up 32% YoY
- Asset Quality: GNPA/ NNPA at 2.2%/ 1.4% on total AUM with all portfolio parameters stable; adequate provision coverage at 45%
- Embedded Finance Growth: MSL delivering exponentially with AUM reaching INR 1,798 Cr within short span of 5 quarters
- Emerging Market channel mix at ~21% of consolidated AUM with 300+ branches reaching AUM of INR 3,199 Cr
- Strategic Updates: The acquisition of Profectus Capital completed in Dec’25; now a 100% subsidiary of UGRO
Mumbai : UGRO Capital Limited (“UGRO” or “the Company”), a DataTech NBFC focused on MSME lending, announced its consolidated and standalone financial results for the quarter and nine months ended December 31, 2025. The quarter reflected continued scale-up in UGRO’s high-yielding, diversified MSME lending engine anchored by Emerging Market and Embedded Finance along with stable portfolio metrics and disciplined liability management. Continuing its journey toward becoming the largest small business financing institution driven by data and technology, the Company reported Assets Under Management (AUM) of INR 15,454 crore as of December 31, 2025, reflecting a 40% YoY growth.
Brief Financial Snapshot (Consolidated)
(INR in Cr)
| Particulars | Q3’FY26 | Q2’FY26 | Growth | 9M’FY26 | 9M’FY25 | Growth |
| (Q-o-Q) | Y-o-Y | |||||
| AUM | 15,454 | 12,226 | 26% | 15,454 | 11,067 | 40% |
| Loans originated / Disbursement | 2,217 | 1,789 | 24% | 5,605 | 5,215 | 7% |
| Total Income | 506.4 | 461.2 | 10% | 1,389.40 | 1,029.40 | 35% |
| Interest Expense | 246.7 | 218.5 | 13% | 670.6 | 446.6 | 50% |
| Net Total Income | 259.7 | 242.6 | 7% | 718.8 | 582.9 | 23% |
| Operating Expenses | 150.9 | 137.2 | 10% | 408.7 | 318.2 | 28% |
| Credit cost | 45.8 | 44.3 | 3% | 137.8 | 118.8 | 16% |
| PBT | 63 | 61.1 | 3% | 172.3 | 145.9 | 18% |
| Tax | 16.7 | 17.8 | -6% | 48.6 | 42.5 | 14% |
| PAT | 46.3 | 43.3 | 7% | 123.7 | 103.4 | 20% |
UGRO completed the acquisition of Profectus Capital in December 2025, and Profectus is now a 100% subsidiary of UGRO. The Company continues to remain focused on integrating the platform while maintaining portfolio discipline.
The Emerging Market (EM) Business continued to deepen its presence, with EM AUM at INR 3,199 crore and contributing ~21% of consolidated AUM, supported by 300+ branches. UGRO is now focused on maximizing productivity of EM branches and its portfolio quality.
UGRO’s Embedded Finance engine via the MSL platform continues to demonstrate strong traction, with over 1.85 Lakh customers served and AUM reaching INR 1,798 crore within 5 quarters, supported by strong contributions from partners such as PhonePe and BharatPe and granular customer expansion.
UGRO delivered PAT of INR 46.3 crore in Q3’FY26 and INR 123.7 crore in 9M’FY26, reflecting continued operating performance while prioritising credit quality and stable collections. Net Total Income stood at INR 259.7 crore in Q3’FY26. Asset quality remained stable with GNPA of 2.2% and NNPA of 1.4%, supported by prudent provisioning (PCR 45%) and a robust collections architecture.
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