Finkurve Financial Services Ltd. · NSE:FINKURVE
Finkurve Financial Services — Q4 FY26 Earnings Presentation
33 slides from Finkurve Financial Services's earnings presentation, May 21, 2026
Slide 1: Exchange Filing Cover Letter – Revised Presentation
May 21, 2026 To, To, Listing Department The Manager – Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, ‘Exchange Plaza’ Bandra Kurla Complex, Mumbai – 400 001 Bandra (East) Mumbai 400051 Scrip Code: 508954 NSE Symbol: Equity: FINKURV
Slide 2: Investor Deck – May'26 (Q4 FY26)
Investor Deck – May’26 (Q4 FY26) NBFC License No. 13.00316 Website - www.arvog.com
Slide 3: Augmont Group: Leading Pioneers Of Gold In India
Augmont Group: Leading Pioneers Of Gold In India Scale Of Operations: Among The Largest One Of India’s Largest Gold & Silver SPOT Platform 4 Cr+ 180+ Traded: ~62 Tonnes Of Gold & Customers Partners 1,035 Tonnes Of Silver In FY25 98 555 Gold For All Centers People Employed Among India’s Leading Gold
Slide 4: Augmont's Journey So Far
Augmont’s Unlisted - AUGMONT ENTERPRISES LTD Gold Refinery & Digital Platform For Gold Journey So Far Products Turnover (FY25): INR 66,252 Cr Listed - FINKURVE FINANCIAL SERVICES LTD Tech Enabled NBFC AUM (FY26): INR 1,096 Cr 2002 2003 2008 2012 2013 2019 2020 2021 2023 2024 2025 2026 Paper Gold Gol
Slide 5: Entire Gold Ecosystem Under One Roof
We Brings The Entire Gold Ecosystem Under One Roof Making Gold Loans A Cornerstone Of Its End-to-end Gold Offering.
Slide 6: Performance Highlights
Performance Highlights In Rs. crore Metric Q4FY26 Q4FY25 YoY Q3FY26 QoQ Assets Under Management* 1,096.1 439.5 ▲ 149% 833.2 ▲ 32% Gold Kgs under management 1,076.2 700.5 ▲ 54% 970.6 ▲ 11% Branches 105 73 ▲ 44% 98 ▲ 7% Active Customers (GL) 28,506 17,138 ▲ 66% 25,472 ▲ 12% Leverage 2.42 1.15 ▲ 110% 1
Slide 7: Strategic Foundation
Strategic Foundation Technology-Led Gold Ecosystem Strength Operating Platform & Promoter Legacy • Proprietary Loan Origination & Management • 100-year leadership in India’s gold industry, System including the first Gold ETF filing • Built in RBI compliant controls and audit trails • India’s leading
Slide 8: Promoter Group Legacy
Promoter Group Legacy Over 25+ year of gold industry experience 25 • Build flagship brand “Augmont” over the past 2 and a half decade • Filed worlds first Gold ETF with SEBI • Expanded into India’s largest digital gold platform serving 37+ mn customers India’s lending digital gold ecosystem • Refine
Slide 9: Promoter & Board of Directors
Promoter & Board of Directors Ketan Kothari Priyank Kothari Nishant Himadri Promoter – Director Director Ranka Bhattacharya • CA with over 18 years of • Portfolio and risk • MBA from Nottingham experience in management expert with University, UK • Masters in Entrepreneurship, Innovation and Enterpri
Slide 10: Key Managerial Personnel / Advisory Board
Key Managerial Personnel Naveen Kottala, Aakash Jain, CFO: Kajal Parmar, CS: CEO: • Chartered Accountant since 2014, has • 15+ years of leadership in gold loan and 10+ years of experience in finance, MSME lending, driving profitability, • Company Secretary and Compliance investment banking, and corp
Slide 11: Arvog: Journey So Far
Arvog: Journey So Far FY26 INR 111.5 cr raised through From Legacy Leasing To on NSE-listed Retail Financial Force FY25 preferential Partnered issue of equity FY23-24 shares FY22 with RBL Bank Divested Shifted for co- Listed on NSE from Arvog focus on lending of retail loan gold loans Transition to
Slide 12: Shifting focus to Retail Gold Loans
Shifting focus to Retail Gold Loans A decisive strategic transformation — moving away from corporate lending toward a retail-first gold loan model that now dominates the loan book. Gold Loans % Corporate Loans Strategic Shift 93 95 100 89 91 91 Legacy focus — high-value, A deliberate pivot toward lo
Slide 13: Key Offerings with Retail Focus
Key Offerings with Retail Focus A dual-engine lending strategy combining the security of physical collateral with the agility of cash-flow underwriting. SECURED UNSECURED Asset-Backed Secured Credit Cash-Flow Based Credit Gold loans secured against physical gold collateral, with loan amounts determi
Slide 14: Gold Loan Strengths
Gold Loan Strengths Strong Centralized System Lowest Fraud Levels Dual-Checking Mechanism All branches operate on a Continuous video monitoring Maker checker framework centralized platform with real- and in-person verification ensures that every transaction time tracking of loans, reduce unauthorize
Slide 15: Pan India Presence
Pan India Presence Arvog Gold Loan Branches & Avg. GL AUM (Rs. Cr) Gold Loan states & No of Touchpoints 105 105 Branches 73 Digital presence 60 31 9.9 50 17 Telangana 4 5.3 37 Andhra Pradesh 3.0 2.8 3.2 13 Karnataka 1.4 05 Tamil Nadu FY21 FY22 FY23 FY24 FY25 FY26 Branch Avg Gold loan AUM
Slide 16: Expansion Strategy
Expansion Strategy Branch Expansion: • Cluster-led expansion in high gold-ownership Tier-2/3 markets to drive repeat borrowing, operating leverage, and predictable AUM growth. • Expand branches in regions with high household gold holdings to drive secured credit growth. • Enter underbanked locations
Slide 17: Lenders Profile
Lenders Profile NBFC Partners Banking Partners Co-lending of Gold Loans
Slide 18: Co-Lending Partnership With Godrej
Co-Lending Partnership With Godrej Company has entered a strategic co-lending partnership with Godrej Finance to jointly offer gold loan products under the Reserve Bank of India’s co-lending framework. The co-lending model enables Arvog to scale its gold loan portfolio efficiently, enhancing capital
Slide 19: Milestone Achieved
Milestone Achieved Arvog (Finkurve Financial Services Limited) has crossed a major growth milestone, with its Assets Under Management (AUM) surpassing **₹1,000 crore+, reflecting nearly **10× growth compared to FY23.
Slide 20: Funding Mix & Cost of Borrowing
Funding Mix & Cost of Borrowing Funding Mix Cost of borrowing (%) 19.7% 11.5 11.2 10.2 44.9% 35.5% FY24 FY25 FY26 Term Loans NCD OD/WCDL/ICDs Diversified borrowing mix driving reduction in average cost of funds, ensuring a stable, quality funding base
Slide 21: Overall Portfolio Analysis - Quarterly
Overall Portfolio Analysis - Quarterly Total AUM (INR cr) Collection Efficiency 11 14 10 14 21 93.0% 94.0% 94.0% 98.0% 1,096 83.0% 833 671 542 440 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Off book AUM included in the over all AUM GNPA (%) NNPA (%) 1.1% 0.9% 0.9% 0.7% 0.7
Slide 22: AUM Breakup
AUM Breakup AUM Breakup (Including off book) AUM Composition (%) 10.67 3.86% 2.89% 2.16% 1.62% 0.97% 42.12 5.6% 4.9% 3.8% 7.4% 6.7% 13.53 41.15 14.47 45.03 15.65 30.2 1,043 91.5% 91.1% 93.4% 95.2% 16.98 88.7% 32.68 778 612 496 390 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26
Slide 23: Segment Wise Loan Yields
Segment Wise Loan Yields Interest Income (in Crs) Interest Income Composition (%) 0.5 1.6% 1.5% 1.2% 1.0% 0.7% 0.5 19.9 28.1% 30.1% 0.6 40.4% 45.2% 53.1% 0.6 0.6 14.4 19.3 17.8 20.6 45.8 70.9% 69.2% 36.3 53.2% 58.4% 27.9 45.4% 21.0 17.6 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26
Slide 24: Gold Loan Analysis - Quarterly
Gold Loan Analysis - Quarterly Gold Loan Gold Holdings (Kg) 1200 22% 20.9% 1,076 1000 971 20.1% 20.1% 889 19.8% 796 800 19.0% 20% 701 600 400 18% 200 390 496 612 778 1,043 0 16% Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 GL (incl Off book) Yield on Avg book Average Ticket
Slide 25: Key Ratios
Key Ratios Capital Adequacy Return on Average Equity 9.4% 8.1% 8.4% 57.3% 7.7% 7.3% 44.9% 47.1% 39.1% 31.0% Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Return on Average Loan Asset Debt to Equity (x) 4.2% 3.9% 2.4 3.8% 3.7% 3.3% 1.7 1.2 1.1 0.7 Q4 FY25 Q1 FY26 Q2
Slide 26: Profit & Loss Statement – Q4 FY26
Profit & Loss Statement – Q4 FY26 Particulars (INR cr) Q4 FY26 Q3 FY26 QoQ (%) Q4 FY25 YoY (%) Revenue From Operations Interest Income 66.08 51.15 38.77 Fees And Commission Income 0.16 0.24 1.52 Net Gain On Fair Value Changes 1.09 0.58 -0.01 Total Revenue From Operations 67.33 51.96 29.57% 40.28 67.
Slide 27: Profit & Loss Statement – Annual
Profit & Loss Statement – Annual Particulars (INR Cr) FY26 FY25 YOY (%) Revenue From Operations Interest Income 204.35 134.72 Fees And Commission Income 1.02 4.06 Net Gain On Fair Value Changes 1.85 1.73 Total Revenue From Operations 207.22 140.51 47.48% Other Income 2.65 0.58 Total Income 209.86 14
Slide 28: Balance Sheet as on 31st March 2026
Balance Sheet as on 31st March 2026 As On 31st As On 31st As On 31st As On 31st Liabilities (INR Cr) Assets (INR Cr) Mar’26 Mar’25 Mar’26 Mar’25 Financial Liabilities Financial Assets Total O/S Dues Of Micro Cash And Cash Equivalents 102.12 15.45 13.50 10.05 Enterprises And Small Enterprises Total O
Slide 29: CSR
CSR As part of our CSR initiative, we had the privilege of distributing laptops and school bags to children at Adarsha Foundation for Boys and Girls, Hyderabad, contributing to their educational journey and empowering them with essential learning resources.
Slide 30: CSR
CSR Nizamabad District Collector Smt. Ila Tripathi distributed laptops and school bags to children of Manavatha Sadan orphanage. This initiative was carried out as part of a CSR program. The support will help enhance their learning opportunities. A meaningful step towards empowering underprivileged
Slide 31: CSR
CSR As part of our ongoing CSR initiatives, we conducted a distribution program at Balasadan in Kamareddy. District Child Protection Officer Smt. Sravanthi and Child Welfare Committee member Smt. Swarnalatha distributed laptops and school bags to the children, reinforcing our continued commitment to
Slide 32: Shareholding as on 31st March 2026
Shareholding as on 31st March 2026 Shareholding (%) 30.6% Promoters Group (Ketan Kothari & Others) Thomas John Muthoot (on Behalf of Muthoot bankers) 56.3% Other Public Shareholders 13.2%
Slide 33: Thank You!
Thank You! For more information please contact: Adfactors PR – Investor Relations Finkurve Financial Services Ltd. Mr. Smit Shah / Ms. Forum Goshar Mr. Aakash Jain Email id – Email id – smit.shah@adfactorspr.com / investorrelations@arvog.com forum.goshar@adfactorspr.com
Finkurve Financial Services — Q4 FY26 Earnings Presentation on 6ix