Sbfc Finance Limited · NSE:SBFC
Sbfc Finance — Q3 FY2026 Earnings Presentation
32 slides from Sbfc Finance's earnings presentation, Jan 24, 2026
Slide 1: Exchange filing cover letter for investor presentation
24th January, 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 Presentat
Slide 2: Investor Presentation Q3 FY 2026
Investor Presentation Q3 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 – Dec 2025
Executive Summary – Dec 2025 Profitability 1 Profit after tax grew 34% YoY to ₹118 crore for the quarter Growth 2 AUM grew 29% YoY and 5.4% QoQ to ₹10,478 crore. Credit Quality 3 Gross NPA at 2.71% with PCR of 46.21% Operating Efficiency 4 Cost-to-AUM ratio improved to 3.93% Return Ratios 5 RoA of 4
Slide 5: Executive Summary – Q3 FY26
Executive Summary – Q3 FY26 YoY QoQ Asset Under Management Disbursement1 Branches 10,478 699 230 +29% +5% 0% -14% +33 +10 Gross NPA Yield/Spread Opex to AAUM 2.71% 17.78% / 9.04% 3.93% +1 bp -6 bps -3 / +54 bps -23 / -1 bps -69 bps -47 bps PAT RoAAUM RoATE 118 4.67% 14.56% +34% +8% +18 bps +11 bps +
Slide 6: Executive Summary – 9M FY26
Executive Summary – 9M FY26 YoY Asset Under Management Disbursement1 Branches 10,478 2,323 230 +29% +22% +33 Gross NPA Yield/Spread Opex to AAUM 2.71% 17.92% / 8.93% 4.29% +1 bp +22 / +55 bps -38 bps PAT RoAAUM RoATE 328 4.58% 14.07% +31% +4 bps +149 bps 1Secured MSME All figures are in Rs. crore 5
Slide 7: Executive Summary
Executive Summary 230 branches Team: Experienced, cycle-tested, professional 181 Cities management with strong corporate governance 17 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 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 Our Journey CARE, ICRA Ratings crossed INR 10,000cr in Upgraded us to ‘AA-’ Q3 FY26 Equity Listing on NSE in Q2 FY25. and BSE. India 1,50,000 customers ratings upgraded us to ‘AA -’ Included in MSCI Global Small 10,478 Cap Index 1,00,000 customers 8,747 150 Branches 150 cr PAT Credit rating upgr
Slide 10: Management
Management Experienced, cycle-tested, professional management Aseem Dhru Mahesh Dayani Narayan Barasia Sanket Agrawal Rajiv Thakker 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 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# Promoter 14.37% Clermont Group 52.82% 19.53% 52.82% Other Major Shareholders 6.40% SBI Mutual Fund 8.17% 6.88% Amansa Capital 4.04% Malabar Funds 3.40% Aditya Birla Sun Life 3.06% Promoters Foreign Portfolio Investors Foreign Compan
Slide 13: Business Momentum
Business Momentum Delivering Consistent AUM Growth YoY : 29% QoQ : 5% CAGR: 33% 10,478 9,938 8,747 8,148 19% 17% 17% 6,822 1% 1% 16% 15% 4,943 3% 17% 83% 83% 81% 84% 83% 79% Mar-23 Mar-24 Mar-25 Q3 FY 25 Q2 FY 26 Q3 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: 25% YoY: 0 % YoY: -5% QoQ: 4% QoQ: -14% QoQ: -15% 8,497 815 8,130 8,196 699 699 7,326 6,781 6,940 9.54 10.02 10.07 Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 AUM Secu
Slide 15: Business Momentum – Co-origination
Business Momentum Co-origination – Validates our profitable origination Co-origination Disbursement (₹ Cr) Co-origination AUM (₹ Cr) %1 18% 15% 16% 21% 19% 19% 124 1,593 1,650 123 112 1,407 Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 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 17 states, 2 UTs covering 181 cities via 230 branches Driven by steady rise in AUM per branch # Branches 37 66 127 230 1 <12 months >12 & <36 months >36 months 1 1 4 66 14 70 65 ₹ Cr 3 37 60 56 8 14 14 50 10 6 16 5 40 30 26
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: 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 19: 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% 5.9% 1.2% 0.8% 0.7% <650 4.8% 6.6% 5.6% 94% 42.5% > 650 & < 700 AUM secured by self occupied LTV residential / commercial pro
Slide 20: Credit Indicators
Credit Indicators Gross NPA %1 Net NPA %2 2.77% 1.63% 2.70% 2.71% 1.51% 1.48% Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 1+ DPD %3 PCR%4 8.72% 8.72% 46.17% 46.21% 6.52% 40.22% Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 Note: 1. Gross NPA% (Stage 3%) as per IND AS (including EIR
Slide 21: ECL Provisions Summary
ECL Provisions Summary As on December 31, 2025 Stage 1 Stage 2 Stage 3 Total Gross Loans Outstanding 8,665 318 250 9,233 ECL Provision 31 21 116 168 Net Loans Outstanding 8,634 297 134 9,065 ECL Provision % 0.36% 6.74% 46.21% 1.82% As on September 30, 2025 Stage 1 Stage 2 Stage 3 Total Gross Loans O
Slide 22: 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 23: Financial Performance – Quarterly Trends in KPIs
Financial Performance Quarterly Trends in KPIs AUM Yield Spread (₹cr) 18.01% 9.05% 9.04% 9,938 10,478 17.81% 17.78% 8.50% 8,148 Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 Q3 FY 25 Q2 FY 26 Q3 FY 26 Opex to AAUM Gross NPA RoAAUM Cost/Income 39.86% 37.30% 34.27% 12.75% 14.09% 14.56% RoATE 2
Slide 24: Financial Performance – 9M Trends in KPIs
Financial Performance 9M - Trends in KPIs AUM Yield Spread (₹cr) 17.92% 10,478 8.93% 8,148 17.70% 8.38% 9M FY 25 9M FY 26 9M FY 25 9M FY 26 9M FY 25 9M FY 26 Opex to AAUM Gross NPA RoAAUM Cost/Income 40.10% 36.80% 12.58% 14.07% RoATE 4.67% 2.70% 2.71% 4.58% 4.54% 4.29% 9M FY 25 9M FY 26 9M FY 25 9M
Slide 25: Sources of Borrowing
Sources of Borrowing Lenders to the Company Diversified Borrowing Mix – Q3 FY26 Public Sector Banks 3.5% 15.9% Private Sector 1.8% Banks 47.4% 12.1% Financial Institutions (FIs) 19.3% Foreign Banks Bank Rupee Loan ECB & FCNR Development NCD Securitisation Financial Co-origination DFI's & FI's Instit
Slide 26: ALM – December 2025
ALM – December 2025 Surplus 1,091 Upto 3 months 1,263 2,354 1,783 Upto 6 months 1,570 3,353 2,748 Upto 1 Year 1,664 4,412 5,895 Upto 3 Years 852 6,747 7,191 Upto 5 Years 1,869 9,060 Liablilities Asset All figures in ₹ Cr 25
Slide 27: SBFC – 9M FY26 Performance
SBFC – 9M FY26 Performance Size and Growth Distribution Granular Book Asset Quality Liability Profile Profitability 10,478 % 230 100% 2.71% 3,306 328 AUM GNPA PAT # Branches % Secured Tangible Net worth YoY +29% YoY +1 bp YoY +31% % 8,497 4,803 9.80* | 1.18* 1.48% CRAR 31.70% 4.58% Secured MSME AUM
Slide 28: Summary Financial Statements – Profit & Loss Statement for Q3 FY26
Summary Financial Statements – Profit & Loss Statement for Q3 FY26 Quarter Ended Growth (%) Particulars December September December Q-o-Q Y-o-Y 2025 2025 2024 Interest Income on Loans 393 375 301 4.7% 30.4% Interest Income other than on Loans 4 4 6 Fee & Other Income 29 32 26 Total Income 426 411 33
Slide 29: Summary Financial Statements – Profit & Loss Statement for 9M FY26
Summary Financial Statements – Profit & Loss Statement for 9M FY26 Nine Month Ended Growth (%) Annual Particulars December December March Y-o-Y 2025 2024 2025 Interest Income on Loans 1,118 845 32.3% 1,167 Interest Income other than on Loans 14 22 29 Fee & Other Income 93 78 110 Total Income 1,225 9
Slide 30: ROE Tree
ROE Tree Ratios Q3 FY26 Q2 FY26 Q3 FY25 9M FY26 9M FY25 Interest Income on Loans/ Average Loan Book 17.78% 18.01% 17.81% 17.92% 17.70% Fee & Other Income/ Average AUM 1.13% 1.32% 1.31% 1.31% 1.41% Borrowing Cost/ Average Borrowings 8.74% 8.96% 9.31% 8.99% 9.32% Spread 9.04% 9.05% 8.50% 8.93% 8.38% N
Slide 31: Balance Sheet
Balance Sheet As On Particulars December September 2025 2025 Assets Cash and Bank Balances 414 493 Derivative Assets - 31 Receivables 29 31 Loan Assets 9,065 8,584 Investments 966 357 Other financial assets 4 4 Current & Deferred tax assets (Net) 26 8 Property, Plant and Equipment etc. 308 309 Other
Slide 32: Thank You
THANK YOU! For further information, please contact Mr. Sanket Agrawal (Chief Strategy Officer & IR) Email - sanket.agrawal@sbfc.com 31 PRIVATE & CONFIDENTIAL