UGRO Capital reported robust financial results for the second quarter and half-year ending September 30, 2024. In Q2 FY25, the company achieved a net profit of ₹36 crore, reflecting a 17% year-on-year increase from ₹30 crore in Q1 FY25. By September 2024, UGRO Capital’s assets under management (AUM) reached ₹10,157 crore.
For the first half of FY25, the company reported a total income of ₹644 crore, marking a 37% year-on-year increase, with Q2 FY25 income at ₹343 crore—up 35% year-on-year and 14% quarter-on-quarter. The profit after tax (PAT) for Q2 FY25 stood at ₹36 crore, representing a remarkable 23% year-on-year and 17% quarter-on-quarter growth. For H1 FY25, PAT climbed to ₹66 crore, up 22% year-on-year.
In terms of disbursements, Q2 FY25 saw a total of ₹1,971 crore, a significant 72% increase quarter-on-quarter, bringing net disbursements to ₹3,118 crore, a 13% rise overall. The company maintained strong asset quality with gross non-performing assets (GNPA) and net non-performing assets (NNPA) at 2.1% and 1.3% of total AUM, respectively. With a solid capital position and a capital-to-risk-weighted assets ratio (CRAR) of 24.5% as of September 2024, total debt stood at ₹5,344 crore. The firm also received a ratings upgrade from India Ratings to IND A+/Stable (long-term) and IND A1+ (short-term), highlighting its improving financial performance.
Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, emphasized that surpassing the ₹10,000 crore AUM milestone showcases the strength of their DataTech infrastructure, extensive geographical reach, and distribution network. He stated, “This achievement reinforces our commitment to building a financially inclusive ecosystem for MSMEs across India. With increasing loan originations, co-lending volumes, and 210 branches, we are ready to accelerate our focus on the small business segment. This is just the beginning of our journey toward becoming India’s largest small business financing institution, driven by our core belief: MSME Accha Hai.”
UGRO Capital has also strengthened its reputation by collaborating with 16 co-lending partners, 58 lenders, over 50 fintechs, and more than 650 GRO partners to offer data-driven, tailored credit solutions to over 100,000 MSMEs across India.
The company, listed on the NSE and BSE, leverages a data analytics-driven platform that provides a robust technological framework for customized sourcing across various channels. With the backing of prominent institutional investors, UGRO Capital raised over ₹900 crore in equity capital in 2018, ₹340 crore in 2023, and ₹1,265 crore in 2024, with a three-year goal of capturing 1% of the market share.
Disclaimer: The information provided in this report is for informational purposes only and should not be construed as financial advice or a recommendation to buy or sell any securities. UGRO Capital’s financial results and performance are subject to market risks, and past performance is not indicative of future results. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions. The information herein may be subject to change without notice and is based on publicly available data at the time of writing.
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