Niyogin Fintech Ltd · BSE:NIYOGIN
Niyogin Fintech — Q4 FY25 Earnings Presentation
37 slides from Niyogin Fintech's earnings presentation, May 15, 2025
Slide 1: Investor Presentation – Q4FY25 and FY25 (BSE cover letter)
niyogin May 15, 2025 To BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai -400001 BSE Scrip Code: 538772 Subject: Investor Presentation – Q4FY25 and FY25 Dear Sir/Ma’am, Pursuant to Regulation 30 (6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirem
Slide 2: Niyogin Fintech Limited Investor Presentation Q4FY25 and FY25
Niyogin Fintech Limited Investor Presentation Q4FY25 and FY25
Slide 3: Annual Report Card
Annual Report Card Parameters (Rs. Crores) FY25 FY24 YoY Change % Net Revenue** 67.4 60.9 11% AUM* 278.8 179.0 56% Financial Professionals 6,375 5,884 8% (#) NA NA Devices deployed 195K (#) * Including FLDG given for off book exposure 2 **Gross Income, net of partner payouts, funding costs, and cred
Slide 4: Organizational Key Updates
Organizational Key Updates Tashwinder Singh appointed as the Executive Vice Chairman of iServeU while continuing in his role as Managing Director and CEO of 1 Niyogin at the group level 2 Aakash Sethi elevated to Deputy Chief Executive Officer of NFL – Responsible for NBFC and Niyogin AI 3 Sanket Sh
Slide 5: Financial Updates for FY25
Financial Updates for FY25 Consolidated NFL 1 Net Revenue** stood at Rs. 67.4 Crores from Rs. 60.9 Crores; growing 11% YoY in FY25 2 EBITDA loss consolidated to Rs. 8.6 Crores in FY25 from Rs. 14.8 Crores in FY24 Standalone NFL 1 AUM* grew by 56% YoY and stood at Rs. 278.8 Crores as of FY25 2 Raised
Slide 6: Financial Updates for FY25
Financial Updates for FY25 iServeU 1 Gross revenue stood at Rs. 165.5 crores; grew 7% YoY in FY25 2 Net revenue stood at Rs. 39.6 crores; grew 12% YoY in FY25 3 The adjusted EBITDA loss consolidated to ~Rs. 0.6 crore in FY25 as compared to EBITDA loss of Rs. 10.6 crore in FY24 Successfully transitio
Slide 7: Q1FY26 & FY26 Guidance
Q1IFY26 & FY26 Guidance
Slide 8: Strong Visibility of FY26 Guidance
Strong Visibility of FY26 Guidance Parameters (Rs. Crores) Q1FY26 (E) FY26 (E) FY25 YoY Growth AUM* 315-330 500-550 278.8 1.8x-2.0x NBFC PBT** 0.8-1 4.5-5 - - Net Revenues 13-15 70-80 39.6 1.8x-2.0x iServeU EBITDA (%) 12-15% - - * Including FLDG given for off book exposure **Ex-ESOP Operational Guid
Slide 9: Quarterly Highlights- NFL
Quarterly Highlights- NFL
Slide 10: Executive Summary
Executive Summary Q4FY25 1 Gross disbursement of Rs. 115.0 Crores in Q4FY25 – highest in NBFC history 2 Net Interest Income grew to Rs 8.4 Crores up 11% QoQ on back of strong disbursals in Q4FY25 3 Raised Rs. 52.0 Crores of incremental borrowing in Q4FY25 4 LTD loans processed stood at 1,61,714 in F
Slide 11: Portfolio Quality and Mix
Portfolio Quality and Mix Partnership and Alliances Asset Quality* ● Collateral: FLDG from ● Customer Turnover: 5.7 partner <Rs. 1 Cr. ● Cashflow: Banking & ● Average ticket size : Rs. 5.2 liquid income assessment 0.01 Cr % AUM Mix of Partnership and 45% Alliances book ● NNPA: 0.8%** ● Tenor: 12M %N
Slide 12: Embedded Lending & Co-lending: FY25 Momentum
Embedded Lending & Co-lending: FY25 Momentum Inflection Point Achieved : Embedded lending stack delivers strong outcomes in FY25 Parameter Q4FY24 Q3FY25 Q4FY25 YoY% Partners (#) 4 7 10 250% New Loan Accounts 16,587 19,645 31,063 87% Total API Hits ~20 lakh ~25 lakhs ~30 lakhs 50% Partnerships-First
Slide 13: Merchant EDI Loans: FY25 Growth Driver
Merchant EDI Loans: FY25 Growth Driver EDI Flywheel 1 Strong Product Market Fit : Equated instalments Key Success Factors : Modular APIs, tailored 3 (EDI) driving rapid growth as a single largest enabler policies, cash flow-linked repayment Embedded in Key Platforms : Khatabook, Meesho, Scalable Hig
Slide 14: Marquee Partnerships
Marquee Partnerships Lending Program Partners Distribution Partners 13 New partnership on boarded in Q4FY25
Slide 15: Financials – Quarterly
Financials – Quarterly Std. Profit & Loss Statement Q4FY25 Q4FY24 YoY (%) Q3FY25 QoQ (%) (in Rs. Crores) Gross Income ^ 23.4 14.5 61% 20.2 16% Commission Sharing (12.8) (6.5) 98% (10.1) 26% Interest Expenses (2.2) (0.9) 158% (2.5) (11%) Net Interest Income 8.4 7.2 17% 7.6 11% Employee Cost (Ex ESOP)
Slide 16: Financials – Annual
Financials – Annual Std. Profit & Loss Statement FY25 FY24 YoY (%) (in Rs. Crores) Gross Income ^ 76.7 41.7 84% Commission Sharing (37.9) (16.7) 128% Interest Expenses (8.0) (1.7) 364% Net Interest Income 30.8 23.4 32% Employee Cost (Ex ESOP) (19.3) (18.0) 8% Other Cost (10.3) (8.7) 19% Pre Provisio
Slide 17: Quarterly Highlights- iServeU
Quarterly Highlights- iServeU
Slide 18: Executive Summary
Executive Summary Q4FY25 1 Gross revenue stood at Rs. 37.4 crores; -2% growth QoQ 2 Net revenue stood at Rs. 13.6 crores; grew 33% QoQ 3 Three straight quarters of positive EBITDA. Q4FY25 adjusted EBITDA at ~Rs. 2 crores 4 Q4 FY 25 reflects a positive PBT of Rs. 89.6 lakhs 17
Slide 19: Operational Updates- Program Management
Operational Updates- Program Management 1 Total partnerships as of FY25 -1,190; New partners on-boarded in Q4 FY25 - 46 2 FY25 GTV(1) – Rs. 39,368 Crores; Net take rate at 5.5 bps; Low traction in Agency banking; Recovery expected in FY26 3 UPI business under program management is set to revive in F
Slide 20: Operational Updates- TSP/SaaS
Operational Updates- TSP/SaaS Order book stands at ~Rs. 400 Crores with 20 contracts to be executed in the next 5 years 1 Out of 890K units of sound box orders, total deployment stands at 195K units & 79.7K units deployed in Q4 FY25; highest in any previous 2 quarters Won strategic multi year contra
Slide 21: FY25: Successfully transitioned to SaaS model
FY25: Successfully transitioned to SaaS model Gross revenue Net revenue(1) Adjusted EBITDA TSP/SaaS vertical forms ~41% of net revenues ₹ 39.6 cr ₹ 35.3 cr 5.8 ₹ 165.5 ₹ 1.8 cr ₹ 1.8 cr ₹ 154.0 3.4 cr cr 2.4 -₹ 0.6 cr ₹ 18.1 cr 16.2 ₹ 15.0 cr ₹ 88.7 cr 8.0 ₹ 80.7 cr ₹ 10.4 cr 1.8 -₹ 10.6 cr 0.5 ₹ 42
Slide 22: Q4FY25: Three straight quarters of positive EBITDA
Q4FY25: Three straight quarters of positive EBITDA Gross revenue Net revenue Adjusted EBITDA ₹ 2.0 cr ₹ 55.5 cr ₹ 13.6 cr ₹ 1.5 cr 1.7 ₹ 0.2 cr ₹ 0.3 cr ₹ 10.1 cr ₹ 10.2 cr ₹ 38.2 cr ₹ 37.4 cr ₹ 36.1 cr ₹ 34.5 cr 1.1 1.7 5.2 ₹ 6.1 cr ₹ 5.7 cr 5.0 4.5 1.1 1.3 1.8 1.5 3.2 2.9 4.1 4.1 6.6 Q4 FY24 Q1 FY
Slide 23: TSP/SaaS order book as on 31-Mar-25
TSP/SaaS order book as on 31-Mar-25 All figures in Rs. Crores Business vertical Products # of contracts Contract value (Net) Acquiring solution POS(1) 1 207.7 Acquiring solution UPI & Soundbox 7 151.5 Financial inclusion Agency Banking 6 15.3 Acquiring solution BBPS(2) 1 15.8 Value added services Sw
Slide 24: Financials - Quarterly
Financials - Quarterly Profit and Loss statement Q4 FY25 Q4 FY24 YoY (%) Q3 FY25 QoQ (%) (in Rs. Crores) Gross revenue 37.4 36.1 4% 38.2 -2% Net revenue 13.6 6.1 123% 10.2 33% Program Management 6.6 3.2 106% 4.1 60% TSP/SaaS 5.2 1.8 192% 4.5 18% Other operational income 1.7 1.1 59% 1.7 5% Expenses 1
Slide 25: Financials - Annual
Financials - Annual Profit and Loss statement FY25 FY24 YoY (%) (in Rs. Crores) Gross revenue 165.5 154.0 7% Net revenue 39.6 35.3 12% Program Management 17.7 29.4 -40% TSP/SaaS 16.2 2.4 565% Other operational income 5.8 3.4 67% Expenses 36.8 42.5 -14% Adjusted EBITDA (0.6) (10.6) NM Reported EBITDA
Slide 26: Marquee partnerships
Marquee partnerships Agent Issuance Banking Merchant Lending Acquiring Solution Value Added Services 25
Slide 27: Participation in various events
Participation in various events 26
Slide 28: Annexures
Annexures
Slide 29: Consolidated Financials
Consolidated Financials Consolidated Q4FY25 Q3FY25 QoQ (%) Q4FY24 YoY(%) FY25 FY24 YoY(%) (in Rs. Crores) Gross Income 71.1 112.6 (37%) 51.3 39% 307.4 198.0 55% Net Revenue** 22.2 17.0 31% 13.9 60% 67.4 60.9 11% EBITDA 0.5 (2.0) NM 0.0 NM (8.6) (14.8) NM PBT (3.1) (5.2) NM (3.0) NM (22.3) (26.1) NM
Slide 30: Shareholding Pattern
Shareholding Pattern Top Institutions Shareholding Pattern Cohesion MK Best Ideas Think India Opportunities Master Fund Others (41.2%) Strategic India Equity Fund Promoters (37.7%) Vikasa India EIF I Fund Aionios Alpha Fund Institutional Investors (21.2%) Ashika Global Finance Pvt Ltd 29 Note: As of
Slide 31: Annexures – Niyogin Finserv Ltd
Annexures Niyogin Finserv Ltd
Slide 32: Board of Directors
Board of Directors Amit Rajpal Gaurav Patankar Kapil Kapoor Samir Mohan Pandiri NON-EXECUTIVE CHAIRMAN, NON-EXECUTIVE DIRECTOR, INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR CO-FOUNDER CO-FOUNDER Managing Partner – Marshall Wace; Managing Partner, Mission1 Investments, Chairman-InfoEdge India; Ex-Presid
Slide 33: Management
Management Aakash Sethi Debiprasad Sarangi Mohit Gang Abhishek Thakkar Tashwinder Singh CHIEF EXECUTIVE CHIEF EXECUTIVE PRESIDENT & CHIEF DEPUTY CHIEF EXECUTIVE MANAGING DIRECTOR & OFFICER, iServeU OFFICER, MoneyFront FINANCIAL OFFICER OFFICER CHIEF EXECUTIVE OFFICER Ex-Citigroup, KKR Ex-Fincent Sof
Slide 34: Investment Rationale - NBFC
Investment Rationale - NBFC Consumer Unique business Curated tech-centric Underwriting first Publicly Listed | Platforms’ focus on model lending programs approach to partner Strong Governance | monetizing their platform selection Robust Investor ecosystem support • Platforms • Partner platforms • BS
Slide 35: Investment Rationale – iServeU
Investment Rationale – iServeU Comprehensive Full stack platform Offers an attractive return for Visible profitable Growth Strong Corporate Governance investors Opportunity • Full stack of financial services with • High quality Board and in-house developed capabilities like • Strong visibility of FY
Slide 36: Corporate Structure
Corporate Structure 51% 60% 100% 100% Lending Distribution Niyogin Finserv Ltd Finance NiyoBlu Professional Channel Merchant Financial Lending Document NACH Offline Issuance Acquiring Inclusion Solution extraction & Automation Agent App Fintech enhancement Channel Merchant Card Agency solutions mana
Slide 37: Our Journey
Our Journey • Announced the 3-year Hyper growth plan • Acquired 51.00% in iSU iServeU, a Rs 3,900 Cr • Went live with NPCI for IMPS (Remitter & GTV platform Beneficiary) and BBPS (COU) • SaaS based B2B • Expanded product use cases - POS • Acquired 50.01% in product went live under Moneyfront, a digi