Shalibhadra Finance Limited · BSE:SAHLIBHFI
Shalibhadra Finance — Q4 FY26 Earnings Presentation
31 slides from Shalibhadra Finance's earnings presentation, May 30, 2026
Slide 1: Exchange filing cover letter for investor presentation
CIN: L65923MH1992PLC064886 Corporate Office: 3, Kamat Industrial Estate, 396, Veer Savarkar Marg, Opp. Siddhi Vinayak Temple, Prabhadevi, Mumbai – 400 025 Phone: 022-2432 2993 / 022-2432 2994 022-2422 4575 / 022-2432 3005 E-mail: shalibhadra_mum@yahoo.co.in Date: 30th May 2026 To, BSE Limited NSE Li
Slide 2: Investor Presentation Q4 and FY26
Investor Presentation SHALIBHADRA FINANCE LIMITED Financing the Wheels of Rural Aspiration Q4 and FY26
Slide 3: About Us
ABOUT US A Trusted, High-Growth NBFC With a Strong Rural Lending Model Shalibhadra Finance Limited (SFL) is a RBI-registered NBFC specializing small-ticket vehicle financing products with high yields across rural, semi-urban, and under-banked markets. With a strong branch network and decades of on-
Slide 4: Shalibhadra: At Glance
SHALIBHADRA: AT GLANCE Scaling Responsibly With Strong Returns and Healthy Metrics Scale Of Operation Asset Quality Portfolio Mix Profitablity ₹219.66 Cr ₹41.05 Cr ₹215.98 Cr. 77.39 AUM NII Two Provision Wheeler Coverage ₹138.52 Cr ₹35.90 Cr ₹0.43 Cr. 8.65% Disbursement NIMs Three ROA Wheeler 0.29x
Slide 5: Shalibhadra 2.0
SHALIBHADRA 2.0 Building the next Growth Engine Transitioning Towards a Diversified & Traditional NBFC Foundation Technology-Driven Retail Lending Platform 1 Rural & Semi-Urban Vehicle Financing Focus Strong Capital Base Built a strong franchise in small-ticket secured Net worth of ₹180 crore provid
Slide 6: Management Commentary
MANAGEMENT COMMENTARY FY26 has been a year of steady progress for Shalibhadra Finance Limited as we continued strengthening our retail-focused lending franchise across rural and semi-urban markets. Despite operating in a dynamic environment, we remained focused on disciplined growth, prudent underwr
Slide 7: Diversified Product Offerings
DIVERSIFIED PRODUCT OFFERINGS Simple, Speedy, Small Ticket Asset Financing Products with High Yields New Two-Wheeler Used Two-Wheeler Used Three-Wheeler Used Four-Wheeler Personal Property Loans Loans Loans Loans Loans Loans Empowering Making used two- Flexible financing for Affordable loans for Tar
Slide 8: Growing Scale With Smart Diversification
GROWING SCALE WITH SMART DIVERSIFICATION Steadily expanding our AUM while strengthening the mix across segments Debt/Equity Mix Asset Under Management AUM Mix ( in ₹ Crores) ( in ₹ Crores) ( in ₹ Crores) 61.72 New 2W 77.42% growth 56 220 Used 2W 176 2.34 Used 4W 0.91 134 124 0.43 Equity Personal Loa
Slide 9: NII and Opex Model
NII AND OPEX MODEL Driving Consistent Growth with Strengthening Operating Efficiency Net Interest Income Opex to Average AUM Ratio ( In Crores) 9.31% 35.90 31.21 26.28 20.56 7.13% 6.52% 5.31% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Cost To Income Ratio Net Interest Income continues to grow sequentia
Slide 10: Asset Quality Trends
ASSET QUALITY TRENDS Asset performance remains healthy, with NNPAs well under control ➤ GNPA remained stable at 2.94% in FY26 versus 2.87% in FY25, while improving significantly from 3.22% in FY23. ➤ NNPA stood at 1.17% in FY26 compared to 0.74% in FY25, remaining well below FY23 levels of 1.69%. ➤
Slide 11: Preferred Brands & Lending Partners
PREFERRED BRANDS & LENDING PARTNERS Driving customer value through preferred OEMs and a diversified, high-quality lender base Customer Demand Anchored in Category-Leading Vehicle Brands 2 Wheelers 3 Wheelers 4 Wheelers Backed by Leading Banks & NBFCs Ensuring Reliable Capital Flow 10
Slide 12: Pan-India Distribution Network
PAN-INDIA DISTRIBUTION NETWORK Presence That Grows With Every Year Rajasthan Durgarpur 4 61 40+ 183 1,13,235+ Madhya Pradesh Barharpur States Branches Districts Employees Customers Dewas Harda Khandva Number of Branches Khargune Ratlam Ujjain 100 Sanawad Narmadapuram Betul Maharashtra Ahmednagar Ali
Slide 13: The Shalibhadra Engine
THE SHALIBHADRA ENGINE Unlocking the Growth Tragectory for the Company Ultra-Strong Capital Adequacy Flexible Repayment Options with 100% A strong CAR positions us as “ready for Cashless Disbursements Loyalty Enriched 1000Cr AUM growth without equity dilution” A testament to our commitment and servi
Slide 14: Customer Base & Disciplined Onboarding
CUSTOMER BASE & DISCIPLINED ONBOARDING Serving the right income segment through a disciplined application flow. Focused Customer Segment SFL operates its own branches for direct service within a 70 km radius and works with 500+ dealer partners in remote Served by Banks/ High areas. Local teams with
Slide 15: Collections Efficiency vs Industry
COLLECTIONS EFFICIENCY VS INDUSTRY Robust recovery architecture driving lower delinquencies and faster resolution cycles Industry Practice Shalibhadra Practice Reliance on ECS/NACH with high bank Direct EMI deposits into district banks; EMI Collection charges and elevated cheque-bounce low-cost, low
Slide 16: Customer-Centric Growth Model
CUSTOMER-CENTRIC GROWTH MODEL Built for Bharat: A Model Designed Around the Rural Customer Flexible Customer Repayment Last Mile Accessibility in Framework Extreme Rural Areas 01 Tailored EMI schedules based on Strategic focus on reaching the remotest customer income stability and lifestyle corners
Slide 17: Way Forward: 2029 Vision
WAY FORWARD: 2029 VISION Building Scale, Strength and Strategic Depth Geographic Expansion Optimizing Cost of Borrowings Increasing the share of borrowings from nationalized banks to 500 Cr. Investing in Technology & structurally bring down the blended AUM Underwriting Intelligence cost of funds. En
Slide 18: Credit Assessment Framework
CREDIT ASSESSMENT FRAMEWORK Focused assessment ensuring quality sourcing and prudent lending Portfolio is sourced largely through sub-dealers operating in deep- rural pockets, not from high-competition city centres. Sub-dealers have direct visibility on borrowers’ behaviour, reputation 01 and financ
Slide 19: Our Journey
OUR JOURNEY Shaping our trajectory with focused expansion and resilience Incorporated the Launched New 2 Customer base crossed Crossed 1,00,000 Branch network Company Wheelers Loan 50,000; Entered Madhya customers expanded beyond Pradesh 50 locations; Launched LAP 2016 2019 2024 2026 1995 2002 2017
Slide 20: Tech-Led Operating Engine
Tech-Led Operating Engine Fully in-house tech enabling sharper monitoring and execution Implementing LOS & LMS Digital Onboarding API Integrations Collections Introduction of LMS and LOS Streamlined end-to-end digital Integrating multiple APIs such as Partnering with several payment marks a signific
Slide 21: Risk Framework & Mitigation Playbook
RISK FRAMEWORK & MITIGATION PLAYBOOK Structured controls to safeguard asset quality and growth Mitigation Tatics Diversified funding sources from various Banks and NBFCs. Optimal Liquidity Risk combination of CC limits & Term loans. gement Arc na hit a ec M Evolved a strategic fund mix to reduce dep
Slide 22: Board of Directors
BOARD OF DIRECTORS Mr. Vatsal Doshi Mr. Minesh Doshi Mr. Dhruvil Doshi Managing Director Director Executive Director cum CFO Ms. Ayushi Doshi Mr. Kamalkant Keswani Mr. Govind Keswani Director Independent Director Independent Director 21
Slide 23: Financial Performance
FINANCIAL PERFORMANCE Steady growth across NII, profitability and earnings momentum Net Interest Income (NII) Pre-Provision Operating Profit (PPOP) (in Crs) (in Crs) 35.95 25.72 31.21 26.28 20.71 20.56 16.17 11.36 9.64 9.28 7.07 6.57 FY23 FY24 FY25 FY26 Q3FY25 Q4FY26 FY23 FY24 FY25 FY26 Q3FY25 Q4FY2
Slide 24: Healthy Margins
HEALTHY MARGINS Balanced yield strategy with disciplined cost of funds management Yield on Advances (%) Cost of Funds (%) 12.8 25.41 11.5 23.55 11.09 11.01 20.4 20.75 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Spread (%) NIM (%) 13.91 12.46 19.7 20.14 9.6 9.74 18.15 16.8 FY23 FY24 FY25 FY26 FY23 FY24 F
Slide 25: Robust Performance
ROBUST PERFORMANCE Capital headroom and diversified liabilities powering growth Networth Borrowings (in Crs) (in Crs) 171.98 154.24 55.08 57.92 56.1 96.81 37.5 78.23 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Disbursements (in Crs) 139 108 93 84 FY23 FY24 FY25 FY26 24
Slide 26: Comfortable Liquidity and ALM Statement
COMFORTABLE LIQUIDITY AND ALM STATEMENT Liquidity Statement as on 31st March, 2026 Cumulative Outflows (₹ Cr) 227.89 232.22 Cumulative Inflows (₹ Cr) 222.65 108.66 65.26 60.25 55.42 55.42 45.68 30.82 25.01 10.32 19.75 5.04 11.60 2.71 0-1m 1-2m 2-3m 3-6m 6m-1y 1-3y 3-5y >5y Cumulative Positive Gap 7.
Slide 27: Future Driving Forces
FUTURE DRIVING FORCES Growing 2-Wheelers Loan Market in India Value of Two-Wheeler Loan Market in India ( $ Bn) 6.4% CAGR Large Millennial and GenZ Base 14.6 3.5% CAGR 8.3 Increased Ownership of 2W Vehicles 7.2 Significant Shift in Borrowing Trends 2020 2024 2033E Rising Disposable Income In the Ind
Slide 28: Industry Overview
INDUSTRY OVERVIEW Accelerating 2-Wheeler Demand in India Production-wise Domestic Market Share in FY25 (%) Indian Two-Wheeler Market (mn units) 3.3% 3.4% 86.4 AGR C 16.3% 23% 19.6 77% 18.0 Two Wheelers Three Wheelers Passenger Vehicles Commercial Vehicles 2024 2025 2032E The India Brand Equity Found
Slide 29: Profit and Loss Statement
Profit and Loss Statement (₹ in Crs) Particulars Q4FY26 Q4FY25 Y-o-Y% FY26 FY25 Y-oY% Interest Earned 10.97 9.45 16.0% 41.05 36.50 12.47% Interest Expensed 1.69 0.98 - 5.2 5.3 - Net Interest income 9.28 8.47 9.56% 35.90 31.21 15.03% Income from Service Charges, 0.01 - - 0.05 - - FV Changes & Capital
Slide 30: Balance Sheet
Balance Sheet (₹ in Crs) Particulars FY26 FY25 A. ASSETS 1. Financial Assets Cash and Cash Equivalents 1.26 0.27 Bank Balance other than above 5.02 3.56 Receivables 0.51 0.31 Loans 215.26 175.63 Investment 3.08 8.82 Other Financial Assets 0.49 0.45 Other Advances 2.27 2.93 2. Non Financial Assets 4.
Slide 31: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shalibhadra Finance Limited (The “Company”) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shal