Sbfc Finance Limited · NSE:SBFC
Sbfc Finance — Q2 FY2026 Earnings Presentation
31 slides from Sbfc Finance's earnings presentation, Nov 1, 2025
Slide 1: Exchange filing cover letter for investor presentation
1st November, 2025 National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, 21st Floor, Dalal Street, Bandra (East), Mumbai – 400051. Mumbai – 400001. NSE Symbol: SBFC BSE Scrip Code: 543959 Sub: Investor Presentat
Slide 2: Investor Presentation Q2 FY 2026
Investor Presentation Q2 FY 2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (‘Presentation”), which have been prepared by SBFC Finance Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,
Slide 4: Executive Summary – Sept 2025
Executive Summary – Sept 2025 Profitability 1 Profit after tax grew 30% YoY to ₹109 crore for the quarter Growth 2 AUM grew 29% YoY to ₹9,938 crore. The company achieved an AUM of ₹10,000 crore during the month of October 2025. Credit Quality 3 Gross NPA at 2.77% with PCR of 46.17% Operating Efficie
Slide 5: Executive Summary – Q2 FY26
Executive Summary – Q2 FY26 YoY QoQ Asset Under Management Disbursement1 Branches 9,938 815 220 +29% +6% +21% +1% +28 +5 Gross NPA Yield/Spread Opex to AAUM 2.77% 18.01% / 9.05% 4.40% +8 bps -1 bp +32 / +68 bps +2 / +38 bps -20 bps -19 bps PAT RoAAUM RoATE 109 4.56% 14.09% +30% +8% +0 bps +6 bps +14
Slide 6: Executive Summary
Executive Summary 220 branches Team: Experienced, cycle-tested, professional 174 Cities management with strong corporate governance 16 States backed by marquee investors 2 UTs Focused Segment: Offering Secured MSME loan to small businesses with focus on ₹5 lakh - ₹30 lakh ticket size Opportunity: Ma
Slide 7: SBFC Focus Segment – Customers Borrowing ₹5 Lakh to ₹30 Lakh
SBFC Focus Segment – Customers Borrowing ₹5 Lakh to ₹30 Lakh Large segment within MSME of ₹4 lakh cr and growing at CAGR 24% Segment Market Size1 (₹ tn) CAGR2 (%) >₹0.3 cr 9.7 19.4% Focus ₹0.05– 0.3 cr 4.0 24.4% Segment <₹0.05 cr 0.7 25.8% Total 14.4 18.5% Source: CRIF Data; 1 As of Mar-25; 2 CAGR p
Slide 8: Our Journey
PAT Our Journey CARE, ICRA Ratings crossed INR 200cr Upgraded us to ‘AA-’ in Half year Equity Listing on NSE in Q2 FY25. and BSE. India 1,50,000 customers ratings upgraded us to ‘AA -’ Included in 9,938 MSCI Global Small Cap Index 8,747 1,00,000 customers 150 Branches 150 cr PAT Credit rating upgrad
Slide 9: Management
Management Experienced, cycle-tested, professional management Aseem Dhru Mahesh Dayani Narayan Barasia Sanket Agrawal Rajiv Thakkar MD & CEO Executive Director Chief Financial Officer Chief Strategy Officer, Chief Risk Officer Analytics & IR Ganesh Vaidya Sai Prashant Menon Sumeet Ghai Namrata Sajna
Slide 10: Board of Directors
Board of Directors Strong corporate governance backed by long term investors Neeraj Swaroop Rajesh Agrawal Surekha Marandi Chairman of the Board Jt. Managing Director, Ex Executive Director, Ex CEO – SCB, Singapore Ajanta Pharma RBI Independent Ravi Venkatraman Koni Uttam Nayak Ex Executive Director
Slide 11: Shareholding
Shareholding Shareholding Pattern Category of Shareholders % Share# Promoter 13.75% Clermont Group 52.98% 18.20% 52.98% Other Major Shareholders 7.01% SBI Mutual Fund 8.20% Amansa Capital 4.05% Malabar Funds 3.83% Aditya Birla Sun Life 3.14% Promoters Foreign Portfolio Investors Mutual Funds, AIF, I
Slide 12: Business Momentum
Business Momentum Delivering Consistent AUM Growth YoY : 29% QoQ : 6% CAGR: 33% 9,938 8,747 9,351 17% 7,715 17% 6,822 17% 1% 1% 15% 17% 4,943 3% 17% 83% 83% 83% 84% 82% 79% Mar-23 Mar-24 Mar-25 Q2 FY 25 Q1 FY 26 Q2 FY 26 Secured MSME LAG Others Secured MSME LAG Others All figures in ₹ Cr. AUM 11
Slide 13: Business Momentum – Secured MSME
Business Momentum – Secured MSME AUM ATS in ₹ Lakhs Disbursement Value Disbursement Volume YoY: 29% YoY: 21% YoY: 15% QoQ: 6% QoQ: 1% QoQ: -6% 8196 809 815 7744 8619 8130 6365 672 7080 9.49 9.38 10.02 Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 AUM Secured MSME A
Slide 14: Business Momentum – Co-origination
Business Momentum Co-origination – Validates our profitable origination Co-origination Disbursement (₹ Cr) Co-origination AUM (₹ Cr) %1 17% 12% 15% 21% 20% 19% 123 1,593 114 1,523 1,322 94 Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 1Percentage is on Total Secured MSME Loans 13
Slide 15: Business Momentum – Branch network and AUM distribution
Business Momentum No concentration risk & well distributed growth Present in 16 states, 2 UTs covering 174 cities via 220 branches Driven by steady rise in AUM per branch # Branches 37 57 126 220 <12 months >12 & <36 months >36 months 1 1 4 ₹ Cr 13 70 65 3 62 8 36 13 60 54 12 50 10 6 15 5 40 30 27 2
Slide 16: Technology Landscape
Technology Landscape Lead Generation Customer Credit Underwriting Pre-Disbursal Loan Disbursal Loan Servicing Onboarding • Digital Form • PD with customer • E-Nach • Digital Disbursal • Customer App • Feet on Street • OKYC/EKYC • CAM Summary • E-Sign IMPS/RTGS/NEFT • CRM Platform • Mobile App • PAN
Slide 17: Credit Underwriting
Credit Underwriting Tailored to service underserved, underbanked informal customers Most small businesses in India SBFC's business model, backed by experience in this segment have challenges • Credit officer spends time to understand income & cash flow (documented + non-documented) at family Partial
Slide 18: Credit Underwriting
Credit Underwriting Quality borrowers with credit score above 700 Over 88% AUM from customers with CIBIL >7001 Granular loan book with high quality collateral1 0/-1 7.5% 6.7% 6.1% 1.2% 0.8% 0.7% <650 5.1% 6.6% 5.6% 94% 42.4% > 650 & < 700 AUM secured by self occupied LTV residential / commercial pro
Slide 19: Credit Indicators
Credit Indicators Gross NPA %1 Net NPA %2 2.69% 2.78% 2.77% 1.63% 1.57% 1.51% Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 1+ DPD %3 PCR%4 8.72% 8.12% 44.38% 46.17% 6.33% 40.17% Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 Note: 1. Gross NPA% (Stage 3%) as per IND AS (including EIR
Slide 20: ECL Provisions Summary
ECL Provisions Summary As on September 30, 2025 Stage 1 Stage 2 Stage 3 Total Gross Loans Outstanding 8,174 326 242 8,742 ECL Provision 30 16 112 158 Net Loans Outstanding 8,144 310 130 8,584 ECL Provision % 0.37% 4.87% 46.17% 1.81% As on June 30, 2025 Stage 1 Stage 2 Stage 3 Total Gross Loans Outst
Slide 21: Collections Approach
Collections Approach In-house, on-ground collections teams – 99% collected digitally On-ground Teams Scalable Structure Adaptable collection strategy as per loan stage Loan Stage Branch staff Branch area- from local area + limited radius Normal • Call center autodial quick attention to customer issu
Slide 22: Financial Performance – Quarterly Trends in KPIs
Financial Performance Quarterly Trends in KPIs AUM Yield Spread (₹cr) 9.05% 9,938 17.99% 18.01% 8.37% 8.67% 9,351 7,715 17.69% Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 Q2 FY 25 Q1 FY 26 Q2 FY 26 Opex to AAUM Gross NPA RoAAUM Cost/Income 39.63% 39.07% 37.30% 12.67% 13.53% 14.09% RoATE 2.
Slide 23: Financial Performance – Half-yearly Trends in KPIs
Financial Performance Half-yearly Trends in KPIs AUM Yield Spread (₹cr) 18.00% 8.86% 9,938 8.31% 8.52% 8,747 17.85% 7,715 17.64% H1 FY 25 H2 FY25 H1 FY26 H1 FY 25 H2 FY25 H1 FY26 H1 FY 25 H2 FY25 H1 FY26 Opex to AAUM Gross NPA RoAAUM Cost/Income 40.23% 39.78% 38.15% 12.49% 12.95% 13.82% RoATE 4.70%
Slide 24: Sources of Borrowing
Sources of Borrowing Lenders to the Company Diversified Borrowing Mix – Q2 FY26 Public Sector Banks 4.7% 17.2% Private Sector Banks 2.2% 44.8% Financial 13.5% Institutions (FIs) 17.6% Foreign Banks Bank Rupee Loan ECB & FCNR Development NCD Securitisation Financial Co-origination DFI's & FI's Instit
Slide 25: ALM – September 2025
ALM – September 2025 Surplus 896 Upto 3 months 739 1,635 1,398 Upto 6 months 1,282 2,680 2,303 Upto 1 Year 1,352 3,655 5,390 Upto 3 Years 513 5,903 6,336 Upto 5 Years 1,789 8,125 Liablilities Asset All figures in ₹ Cr 24
Slide 26: SBFC – H1 FY26 Performance
SBFC – H1 FY26 Performance Size and Growth Distribution Granular Book Asset Quality Liability Profile Profitability 9,938 % 220 100% 2.77% 3,174 210 AUM GNPA PAT # Branches % Secured Tangible Net worth YoY +29% YoY +8 bps YoY +29% % 8,196 4,484 9.70* | 1.15* 1.51% CRAR 34.05% 4.53% Secured MSME AUM
Slide 27: Profit & Loss Statement for Q2 FY26
Summary Financial Statements – Profit & Loss Statement for Q2 FY26 Quarter Ended Growth (%) Particulars September June September Q-o-Q Y-o-Y 2025 2025 2024 Interest Income on Loans 375 350 281 7.2% 33.5% Interest Income other than on Loans 4 5 8 Fee & Other Income 32 34 25 Total Income 411 389 314 5
Slide 28: Profit & Loss Statement for H1 FY26
Summary Financial Statements – Profit & Loss Statement for H1 FY26 Half Year Ended Growth (%) Annual Particulars September September March Y-o-Y 2025 2024 2025 Interest Income on Loans 725 544 33.3% 1,167 Interest Income other than on Loans 9 16 29 Fee & Other Income 66 52 110 Total Income 800 612 3
Slide 29: ROE Tree
ROE Tree Ratios Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 Interest Income on Loans/ Average Loan Book 18.01% 17.99% 17.69% 18.00% 17.64% Fee & Other Income/ Average AUM 1.32% 1.50% 1.39% 1.41% 1.46% Borrowing Cost/ Average Borrowings 8.96% 9.32% 9.32% 9.14% 9.33% Spread 9.05% 8.67% 8.37% 8.86% 8.31% N
Slide 30: Balance Sheet
Balance Sheet As On Particulars September June 2025 2025 Assets Cash and Bank Balances 493 258 Derivative Assets 31 - Receivables 31 26 Loan Assets 8,584 8059 Investments 357 479 Other financial assets 4 4 Current & Deferred tax assets (Net) 8 6 Property, Plant and Equipment etc. 309 310 Other non-f
Slide 31: THANK YOU!
THANK YOU! For further information, please contact Mr. Sanket Agrawal (Chief Strategy Officer & IR) Email - sanket.agrawal@sbfc.com 30 PRIVATE & CONFIDENTIAL