UGRO Capital Q4 FY26 – Results Analysis

key financial highlights

• Revenue from Operations:
  • Total Income (Q4 FY26): ₹60,657.08 lakh
    • QoQ Change: +31.56%
  • Previous Quarter (Q3 FY26): ₹46,108.72 lakh
• Profit After Tax (PAT):
  • PAT (Q4 FY26): ₹5,110.74 lakh
    • QoQ Growth: +10.47%
  • Previous Quarter: ₹4,626.51 lakh

Margin Analysis

Positives

• Strong revenue growth
• Loan book scale-up
• Improved operating leverage
• Profit growth despite higher provisions

Key Signal: Healthy for a scaling lender

Earning quality check

High Earnings Quality:

• Profit growth appears operationally supported

Supported By:

• Higher interest income
• Higher fee income
• Strong lending growth
• Positive operating cash generation

Caution:

• Impairment remains elevated:
  • ₹7,155 lakh (quarter) – Worth monitoring

balance sheet Analysis

Total Assets:

• FY26: ₹14,07,502 lakh
• Strong Scale

Loan Book:

• FY26: ₹10,29,316 lakh
• Major lending platform scale

Borrowings:

• FY26: ₹7,10,331 lakh
• Debt Securities:
  • ₹3,22,022 lakh

Balance Sheet Insight:

• Loan growth
• Capital support
• Diversified funding

Cash flow analysis

Operating Cash Flow

• FY26: ₹21,352 lakh

Investing Cash Flow

• Negative ₹1,96,430 lakh
• Reflects:
  • Driven largely by investment in subsidiary
  • Strategic rather than alarming

Financing Cash Flow

• Positive ₹2,75,098 lakh
• Reflects:
  • Strong funding support.

key risks

• Credit quality monitoring remains important
• Growth remains liability-funded
• Rapid scaling can create operational risks

management strategy signals

• Loan book expansion
• Scale-led growth
• Funding diversification
• Liquidity strengthening
• Platform expansion

Financial Metrics

Quarterly Performance Context