Sbfc Finance Limited · NSE:SBFC
Sbfc Finance — Q4 FY2026 Earnings Presentation
35 slides from Sbfc Finance's earnings presentation, Apr 25, 2026
Slide 1: Cover letter to stock exchanges
25th April, 2026 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 Presentatio
Slide 2: Investor Presentation Q4 FY 2026
Investor Presentation Q4 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 – Mar 2026
Executive Summary – Mar 2026 Profitability 1 Profit after tax grew 31% YoY to ₹451 crore for the year Growth 2 AUM grew 29% YoY and 7.56% QoQ to ₹11,270 crore. Credit Quality 3 Gross NPA at 2.61% with PCR of 42% Operating Efficiency 4 Cost-to-AUM ratio improved to 4.19% from 4.65% for the year Retur
Slide 5: Executive Summary – FY26
Executive Summary – FY26 YoY Asset Under Management Disbursement1 Branches 11,270 3,107 251 +29% +16% +46 Gross NPA Yield/Spread Opex to AAUM 2.61% 17.84% / 8.99% 4.19% -13 bps +9 / +57 bps -46 bps PAT RoAAUM RoATE 451 4.58% 14.18% +31% +5 bps +146 bps 1Secured MSME All figures are in Rs. crore 4
Slide 6: Executive Summary – Q4 FY26
Executive Summary – Q4 FY26 YoY QoQ Asset Under Management Disbursement1 Branches 11,270 785 251 +29% +8% 3% 12% +46 +21 Gross NPA Yield Spread Opex to AAUM 2.61% 17.61% 9.09% 3.93% -13 bps -10 bps -27 bps -17 bps +56 bps +5 bps -69 bps 0 bps PAT RoAAUM RoATE 123 4.57% 14.48% +30% +4% +5 bps -10 bps
Slide 7: Executive Summary
Executive Summary Team: Experienced, cycle-tested, professional 251 branches management with strong corporate governance 199 Cities backed by marquee investors 18 States 2 UTs Focused Segment: Offering Secured MSME loan to small businesses with focus on ₹5 lakh - ₹30 lakh ticket size Opportunity: Ma
Slide 8: 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 9: Our Journey
AUM crossed INR Our Journey CARE, ICRA Ratings 10,000cr in Q3 FY26 Upgraded us to ‘AA-’ Equity Listing on NSE in Q2 FY25. 11,270 and BSE. India 1,50,000 customers ratings upgraded us to ‘AA -’ Included in MSCI Global Small Cap Index 8,747 1,00,000 customers 150 Branches 150 cr PAT 6,822 Credit ratin
Slide 10: Management
Management Experienced, cycle-tested, professional management Aseem Dhru Mahesh Dayani Narayan Barasia Sanket Agrawal Rajiv Thakker Executive Vice Chairman MD & CEO Chief Financial Officer Chief Strategy Officer, Chief Risk Officer Analytics & IR Ganesh Vaidya Sumeet Ghai Agnivesh Kumar Namrata Sajn
Slide 11: Board of Directors
Board of Directors Strong corporate governance backed by long term investors Neeraj Swaroop Koni Uttam Nayak Surekha Marandi Ex Senior Vice President, Ex Executive Director, Chairman of the Board Visa Direct Organization RBI Ex CEO – SCB, Singapore at Visa Independent Ravi Venkatraman Ex Executive D
Slide 12: Shareholding
Shareholding Shareholding Pattern Category of Shareholders % Share# 13.19% Promoter 21.97% Clermont Group 52.35% 52.35% Other Major Shareholders 6.27% 6.22% SBI Mutual Fund 8.10% Aditya Birla Sun Life 5.18% Amansa Capital 4.00% Promoters Foreign Portfolio Investors Malabar Funds 3.33% Foreign Compan
Slide 13: Business Momentum
Business Momentum Delivering Consistent AUM Growth YoY : 29% QoQ : 8% CAGR: 29% 11,270 11,270 10,478 21% 21% 8,747 19% 8,747 17% 6,822 17% 1% 15% 79% 81% 79% 83% 83% 84% Mar-24 Mar-25 Mar-26 Q4 FY 25 Q3 FY 26 Q4 FY 26 Secured MSME LAG Others Secured MSME LAG Others All figures in ₹ Cr. AUM 12
Slide 14: Business Momentum – Secured MSME
Business Momentum – Secured MSME AUM ATS in ₹ Lakhs Disbursement Value Disbursement Volume YoY: 22% YoY: 3% YoY: -4% QoQ: 4% QoQ: 12% QoQ: 9% 8873 785 8497 766 7926 7597 699 6940 7249 9.66 10.07 10.34 Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 AUM Secured MSME A
Slide 15: Business Momentum – Co-origination
Business Momentum Co-origination – Validates our profitable origination Co-origination Disbursement (₹ Cr) Co-origination AUM (₹ Cr) %1 16% 16% 16% 20% 19% 19% 1,650 1,708 122 122 112 1,481 Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 1Percentage is on Total Secured MSME Loans 14
Slide 16: Business Momentum – No concentration risk
Business Momentum No concentration risk & well distributed growth Present in 18 states, 2 UTs covering 199 cities via 251 branches Driven by steady rise in AUM per branch # Branches 54 54 143 251 1 <12 months >12 & <36 months >36 months 1 1 4 66 66 15 70 ₹ Cr 3 59 12 39 16 60 16 2 50 11 6 21 5 40 30
Slide 17: Technology Landscape
Technology Landscape Lead Generation Customer Credit Underwriting Pre-Disbursal Loan Disbursal Loan Servicing Onboarding • Digital Form • AI enabled PD with • E-Nach • Digital Disbursal • Customer App • Feet on Street • EKYC customer • E-Sign IMPS/RTGS/NEFT • CRM Platform • Mobile App • PAN Verifica
Slide 18: Engineering the Lending Lifecycle Through Technology
Engineering the Lending Lifecycle Through Technology Paperless, multilingual and API-led workflows are reducing friction from onboarding to disbursal while improving control, governance and customer experience. 01 02 03 04 DIGITAL CORE AT SCALE Verify identity Capture digitally Sign in language Disb
Slide 19: 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 20: Credit Underwriting
Credit Underwriting Quality borrowers with credit score above 700 Over 89% AUM from customers with CIBIL >7001 Granular loan book with high quality collateral1 0/-1 7.5% 6.7% 5.5% 0.8% 0.6% <650 1.2% 4.7% 6.6% 5.6% 94% 42.6% > 650 & < 700 AUM secured by self occupied LTV residential / commercial pro
Slide 21: Credit Indicators
Credit Indicators Gross NPA %1 Net NPA %2 2.74% 2.71% 1.51% 1.48% 1.54% 2.61% Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 1+ DPD %3 PCR%4 8.72% 45.69% 46.21% 8.44% 41.64% 7.09% Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 Note: 1. Gross NPA% (Stage 3%) as per IND AS (including EIR
Slide 22: ECL Provisions Summary
ECL Provisions Summary As on March 31, 2026 Stage 1 Stage 2 Stage 3 Total Gross Loans Outstanding 9,433 296 260 9,989 ECL Provision 27 49 108 184 Net Loans Outstanding 9,406 247 152 9,805 ECL Provision % 0.28% 16.66% 41.64% 1.84% As on December 31, 2025 Stage 1 Stage 2 Stage 3 Total Gross Loans Outs
Slide 23: 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 24: Financial Performance – Quarterly Trends in KPIs
Financial Performance Quarterly Trends in KPIs AUM Yield Spread (₹cr) 9.04% 9.09% 10,478 11,270 17.88% 8,747 17.78% 8.53% 17.61% Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 Q4 FY 25 Q3 FY 26 Q4 FY 26 Opex to AAUM Gross NPA RoAAUM Cost/Income 39.67% 34.27% 34.41% 13.14% 14.56% 14.48% RoATE
Slide 25: Financial Performance – Yearly Trends in KPIs
Financial Performance Yearly - Trends in KPIs AUM Yield Spread (₹cr) 17.84% 8.99% 11,270 17.75% 8.42% 8,747 FY 25 FY 26 FY 25 FY 26 FY 25 FY 26 Opex to AAUM Gross NPA RoAAUM Cost/Income 39.98% 36.16% 12.72% 14.18% RoATE 4.65% 2.74% 4.58% 4.53% 2.61% 4.19% FY 25 FY 26 FY 25 FY 26 FY 25 FY 26 24
Slide 26: Sources of Borrowing
Sources of Borrowing Lenders to the Company Diversified Borrowing Mix – Q4 FY26 Public Sector Banks 2.7% 16.1% Private Sector 1.7% Banks 46.2% 9.4% Financial Institutions (FIs) 23.9% Foreign Banks Bank Rupee Loan ECB & FCNR Development NCD Securitisation Financial Co-origination DFI's & FI's Institu
Slide 27: ALM – March 2026
ALM – March 2026 Surplus 936 Upto 3 months 943 1,879 1,442 Upto 6 months 1,690 3,132 2,657 Upto 1 Year 1,873 4,530 6,031 Upto 3 Years 810 6,841 7,312 Upto 5 Years 1,954 9,266 Liablilities Asset All figures in ₹ Cr 26
Slide 28: SBFC – FY26 Performance
SBFC – FY26 Performance Size and Growth Distribution Granular Book Asset Quality Liability Profile Profitability 11,270 % 251 100% 2.61% 3,465 451 AUM GNPA PAT # Branches % Secured Tangible Net worth YoY +29% YoY -13 bps YoY +31% % 8,873 5,025 9.93* | 1.23* 1.54% CRAR 32.84% 4.58% Secured MSME AUM E
Slide 29: Summary Financial Statements – P&L for Q4 FY26
Summary Financial Statements – Profit & Loss Statement for Q4 FY26 Quarter Ended Growth (%) Particulars March December March Q-o-Q Y-o-Y 2026 2025 2025 Interest Income on Loans 414 393 322 5.5% 28.6% Interest Income other than on Loans 8 4 7 Fee & Other Income 32 29 32 Total Income 454 426 361 6.7%
Slide 30: Summary Financial Statements – P&L for FY26
Summary Financial Statements – Profit & Loss Statement for FY26 Financial Year Ended Growth (%) Particulars March March Y-o-Y 2026 2025 Interest Income on Loans 1,532 1,167 31.3% Interest Income other than on Loans 22 29 Fee & Other Income 125 110 Total Income 1,679 1,306 28.6% Finance Cost 537 419
Slide 31: ROE Tree
ROE Tree Ratios Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Interest Income on Loans/ Average Loan Book 17.61% 17.78% 17.88% 17.84% 17.75% Fee & Other Income/ Average AUM 1.18% 1.13% 1.52% 1.27% 1.44% Borrowing Cost/ Average Borrowings 8.52% 8.74% 9.35% 8.85% 9.33% Spread 9.09% 9.04% 8.53% 8.99% 8.42% Net Int
Slide 32: Balance Sheet
Balance Sheet As On Particulars March March 2026 2025 Assets Cash and Bank Balances 646 429 Derivative Assets 80 - Receivables 20 15 Loan Assets 9,805 7,504 Investments 192 327 Other financial assets 4 3 Current & Deferred tax assets (Net) 16 3 Property, Plant and Equipment etc. 316 309 Other non-fi
Slide 33: Corporate Social Responsibility – Building Livelihood
Corporate Social Responsibility – Building Livelihood SBFC Shiksha – Enabling Holistic Education SBFC Gurukul – Executive Training Program Enhanced infrastructure in a rural school to support students Executive Training Program with: • Total beneficiaries 908, out of which 538 have been • Smart clas
Slide 34: Corporate Social Responsibility – Building Livelihood
Corporate Social Responsibility – Building Livelihood SBFC – Vikas & Paryavaran SBFC Aarogya – Essential eyecare services Enhanced rural infrastructure through sustainable Enabled screenings at well-equipped centers for children development, A Step towards improving rural safety, reducing from remot
Slide 35: Thank You!
THANK YOU! 34 PRIVATE & CONFIDENTIAL