Sbfc Finance Limited · NSE:SBFC
Sbfc Finance — Q2 FY2027 Earnings Presentation
31 slides from Sbfc Finance's earnings presentation, Oct 24, 2026
Slide 1: Exchange filing cover letter for investor presentation
24th October, 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 Q2 FY 2027
Investor Presentation Q2 FY 2027
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 – Sep 2026
Executive Summary – Sep 2026 Profitability 1 Profit after tax grew 27% YoY to ₹139 crore for the quarter. Growth 2 AUM grew 27% YoY and 6% QoQ to ₹12,592 crore. Credit Quality 3 Gross NPA at 2.6% with PCR of 42%. Operating Efficiency 4 Cost-to-AUM ratio improved by 33 bps YoY to 4.1%. Return Ratios
Slide 5: Executive Summary – Q2 FY27
Executive Summary – Q2 FY27 YoY QoQ Asset Under Management Disbursement1 Branches 12,592 855 257 +27% +6% 5% 6% +37 +1 Gross NPA Yield Spread Opex to AAUM 2.6% 18.0% 9.6% 4.1% -13 bps -2 bps +3 bps +14 bps +58 bps +15 bps -33 bps -22 bps PAT RoAAUM RoATE 139 4.6% 15.0% +27% +7% +2 bps +5 bps +95 bps
Slide 6: Executive Summary
Executive Summary Team: Experienced, cycle-tested, professional 257 branches management with strong corporate governance 202 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 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 ₹4.6 lakh cr and growing at CAGR 23% Segment Market Size1 (₹ tn) CAGR2 (%) >₹0.3 cr 11.9 19.8% Focus ₹0.05– 0.3 cr 4.6 23.2% Segment <₹0.05 cr 0.7 23.5% Total 17.2 18.7% Source: CRIF Data; 1 As of Mar-26; 2 CAG
Slide 8: Our Journey
ROE crossed AUM crossed 15% for the quarter INR 10,000 cr & PAT crossed 250 Our Journey in Q3 FY26 cr for the Half year. CARE, ICRA Ratings Upgraded 12,592 Equity Listing on NSE us to ‘AA-’ in Q2 and BSE. India FY25. ratings upgraded us 1,50,000 11,270 to ‘AA -’ Included in customers MSCI Global Sma
Slide 9: Management
Management Experienced, cycle-tested, professional management Aseem Dhru Mahesh Dayani Sanket Agrawal Rajiv Thakker Executive Vice Chairman MD & CEO Chief Financial Officer Chief Risk Officer Ganesh Vaidya Sumeet Ghai Namrata Sajnani Agnivesh Kumar Akruti Mashkaria Chief Technology Officer Chief Hum
Slide 10: 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 11: Shareholding
Shareholding Shareholding Pattern Category of Shareholders % Share# 12.80% Promoter 22.24% Clermont Group 52.23% 52.23% Other Major Shareholders 5.08% 7.66% SBI Mutual Fund 8.05% Aditya Birla Sun Life 4.72% Amansa Capital 3.91% Promoters Foreign Portfolio Investors Franklin India 2.81% Foreign Compa
Slide 12: Business Momentum
Business Momentum Delivering Consistent AUM Growth YoY : 27% QoQ : 6% CAGR: 29% 12,592 11,270 11,922 21% 9,938 23% 8,747 22% 17% 6,822 17% 1% 15% 79% 78% 77% 83% 83% 84% Mar-24 Mar-25 Mar-26 Q2 FY 26 Q1 FY 27 Q2 FY 27 Secured MSME LAG Others Secured MSME LAG 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: 18% YoY: 5% YoY: -2% QoQ: 4% QoQ: 6% QoQ: 3% 855 815 809 9,669 8,130 9,271 7,939 7,700 8,196 10.02 10.51 10.78 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 AUM Secured
Slide 14: Business Momentum – Co-origination
Business Momentum Co-origination – Validates our profitable origination Co-origination Disbursement (₹ Cr) Co-origination AUM (₹ Cr) %1 15% 10% 13% 19% 19% 18% 123 1,719 1,746 112 1,593 78 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 1Percentage is on Total Secured MSME Loans 13
Slide 15: Business Momentum – No concentration risk
Business Momentum No concentration risk & well distributed growth Present in 18 states, 2 UTs covering 202 cities via 257 branches Driven by steady rise in AUM per branch # Branches 40 56 161 257 1 <12 months >12 & <36 months >36 months 1 1 4 16 80 ₹ Cr 3 65 67 68 12 40 18 70 16 60 2 11 6 21 5 50 40
Slide 16: 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 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 90% AUM from customers with CIBIL >7001 Granular loan book with high quality collateral1 0/-1 6.7% 5.5% 4.8% 0.8% 0.6% 0.6% 4.7% 4.3% <650 5.6% 93% 43.0% > 650 & < 700 AUM secured by self occupied LTV residential / commercial pro
Slide 19: Credit Indicators
Credit Indicators Gross NPA %1 Net NPA %2 2.8% 1.5% 1.6% 1.5% 2.7% 2.6% Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 1+ DPD %3 PCR%4 8.7% 9.2% 9.2% 46.2% 42.2% 42.2% Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Note: 1. Gross NPA% (Stage 3%) as per IND AS (including EIR adjustment)
Slide 20: ECL Provisions Summary
ECL Provisions Summary As on September 30, 2026 Stage 1 Stage 2 Stage 3 Total Gross Loans Outstanding 10,695 390 300 11,385 ECL Provision 31 66 127 224 Net Loans Outstanding 10,664 324 173 11,161 ECL Provision % 0.3% 16.9% 42.2% 2.0% As on June 30, 2026 Stage 1 Stage 2 Stage 3 Total Gross Loans Outs
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 centre autodial quick attention to customer issu
Slide 22: Financial Performance – Quarterly Trends in KPIs
Financial Performance Quarterly Trends in KPIs AUM Yield Spread (₹cr) 9.5% 9.6% 11,922 12,592 18.0% 17.9% 18.0% 9.1% 9,938 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Opex to AAUM Gross NPA RoAAUM Cost/Income 37.3% 36.4% 35.2% 14.1% 14.7% 15.0% RoATE 4.4% 2.8% 2.
Slide 23: Financial Performance – Half-yearly Trends in KPIs
Financial Performance Half-yearly Trends in KPIs AUM Yield Spread (₹cr) 12,592 18.0% 11,270 18.0% 9,938 8.9% 9.1% 9.6% 17.7% H1 FY 26 H2 FY 26 H1 FY 27 H1 FY 26 H2 FY 26 H1 FY 27 H1 FY 26 H2 FY 26 H1 FY 27 Opex to AAUM Gross NPA RoAAUM Cost/Income 38.2% 34.4% 35.8% 13.8% 14.5% 14.9% RoATE 2.8% 2.6%
Slide 24: Sources of Borrowing
Sources of Borrowing Lenders to the Company Diversified Borrowing Mix – Q2 FY27 Public Sector Banks 3.1% 13.1% 3.0% Private Sector Banks 8.4% 59.3% Financial Institutions (FIs) 13.1% Foreign Banks Bank Rupee Loan ECB & FCNR Development NCD Securitisation Financial Co-origination DFI's & FI's Institu
Slide 25: ALM – September 2026
ALM – September 2026 Surplus 921 Upto 3 months 2,288 3,209 1,496 Upto 6 months 3,356 4,852 3,485 Upto 1 Year 2,998 6,483 7,938 Upto 3 Years 1,085 9,023 9,473 Upto 5 Years 2,225 11,698 Liabilities Asset All figures in ₹ Cr 24
Slide 26: SBFC – H1 FY27 Performance
SBFC – H1 FY27 Performance Size and Growth Distribution Granular Book Asset Quality Liability Profile Profitability 12,592 % 257 100% 2.6% 3,789 269 AUM GNPA PAT # Branches % Secured Tangible Net worth YoY +27% YoY -13 bps YoY +28% % 9,669 5,618 10.6* | 1.4* 1.5% CRAR 31.3% 4.6% Secured MSME AUM Emp
Slide 27: Profit & Loss Statement for Q2 FY27
Summary Financial Statements – Profit & Loss Statement for Q2 FY27 Quarter Ended Growth (%) Particulars September June September Q-o-Q Y-o-Y 2026 2026 2025 Interest Income on Loans 485 454 375 6.9% 29.3% Interest Income other than on Loans 28 6 4 Fee & Other Income 34 32 32 Total Income 547 492 411
Slide 28: Profit & Loss Statement for H1 FY27
Summary Financial Statements – Profit & Loss Statement for H1 FY27 Half Year Ended Growth (%) Annual Particulars September September March Y-o-Y 2026 2025 2026 Interest Income on Loans 938 725 29.5% 1,532 Interest Income other than on Loans 34 9 22 Fee & Other Income 66 66 125 Total Income 1,038 800
Slide 29: ROE Tree
ROE Tree Ratios Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 Interest Income on Loans/ Average Loan Book 18.0% 17.9% 18.0% 18.0% 18.0% Fee & Other Income/ Average AUM 1.1% 1.1% 1.3% 1.1% 1.4% Borrowing Cost/ Average Borrowings 8.4% 8.4% 9.0% 8.4% 9.1% Spread 9.6% 9.5% 9.1% 9.6% 8.9% Net Interest Margin/
Slide 30: Balance Sheet
Balance Sheet As On Particulars September June 2026 2026 Assets Cash and Bank Balances 1,455 1,664 Derivative Assets 84 49 Receivables 24 34 Loan Assets 11,161 10,479 Investments 598 431 Other financial assets 5 5 Current & Deferred tax assets (Net) 26 22 Property, Plant and Equipment etc. 321 318 O
Slide 31: THANK YOU!
THANK YOU! 30 PRIVATE & CONFIDENTIAL