SBFC Finance Ltd.
SBFCFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
13 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 13 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20231102 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240202 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240506 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240802 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241031 | 2024-09-30 | yes | |
| COVER_LETTER | 20250127 | 2024-12-31 | no | |
| TRANSCRIPT | 20250130 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250502 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250731 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251108 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260131 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260505 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260731 | 2026-06-30 | yes |
SBFC
files as a non-banking financial company. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | nbfc |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 89.14 |
| 52-week range | 80.95 – 118.5 |
| Return 1M | -3.91% |
| Return 3M | -1.85% |
| Return 1Y | -20.51% |
| Return 3Y | 6.5% |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2025-03-31
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 361.00 |
| Other income | 0.00 |
| Total income | 361.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 68.00 |
| Finance costs | 118.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.52 | -0.00 |
| institutions foreign | 0.07 | 0.01 |
| institutions domestic | 0.21 | -0.01 |
| mutual funds | 0.16 | -0.00 |
| public | 0.48 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2024-12-31 | 1 |
| TRANSCRIPT | 2026-06-30 | 12 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 230.00 | 246.00 | 264.00 | 279.00 | 298.00 | 314.00 | 334.00 | 361.00 |
| Other income | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total income | 230.00 | 247.00 | 264.00 | 280.00 | 298.00 | 315.00 | 334.00 | 361.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 47.00 | 53.00 | 57.00 | 60.00 | 61.00 | 60.00 | 64.00 | 68.00 |
| Finance costs | 89.00 | 89.00 | 85.00 | 88.00 | 95.00 | 100.00 | 106.00 | 118.00 |
| Depreciation and amortisation | 3.00 | 3.00 | 3.00 | 4.00 | 4.00 | 4.00 | 5.00 | 5.00 |
| Other expenses | 19.00 | 19.00 | 21.00 | 17.00 | 18.00 | 21.00 | 22.00 | 24.00 |
| Total expenses | 167.00 | 176.00 | 178.00 | 182.00 | 192.00 | 204.00 | 216.00 | 236.00 |
| Profit before exceptional items and tax | 63.00 | 71.00 | 86.00 | 97.00 | 105.00 | 110.00 | 118.00 | 125.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 63.00 | 71.00 | 86.00 | 97.00 | 105.00 | 110.00 | 118.00 | 125.00 |
| Current tax | 16.00 | 24.00 | 25.00 | 12.00 | 32.00 | 28.00 | 34.00 | 27.00 |
| Deferred tax | 0.00 | -6.00 | -3.00 | 11.00 | -6.00 | -2.00 | -4.00 | 4.00 |
| Tax expense | 16.00 | 18.00 | 22.00 | 24.00 | 26.00 | 26.00 | 29.00 | 31.00 |
| Profit for the period | 47.00 | 53.00 | 64.00 | 74.00 | 79.00 | 84.00 | 88.00 | 94.00 |
| Profit attributable to owners | 47.00 | 53.00 | 64.00 | 74.00 | 79.00 | 84.00 | — | 94.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 |
| Other comprehensive income | -1.00 | -2.00 | -2.00 | 3.00 | -2.00 | 3.00 | -5.00 | -1.00 |
| Total comprehensive income | 46.00 | 51.00 | 61.00 | 76.00 | 77.00 | 87.00 | 84.00 | 93.00 |
| Earnings per share, basic | 0.52 | 0.52 | 0.60 | 0.69 | 0.74 | 0.78 | 0.82 | 0.87 |
| Earnings per share, diluted | 0.49 | 0.51 | 0.58 | 0.67 | 0.72 | 0.77 | 0.80 | 0.85 |
| Interest earned | 204.00 | 220.00 | 237.00 | 258.00 | — | — | 308.00 | 329.00 |
| Fees and commission income | 14.00 | 14.00 | 16.00 | 11.00 | — | — | 10.00 | 23.00 |
| Net gain on fair value changes | 5.00 | 5.00 | 4.00 | 4.00 | — | — | 3.00 | 7.00 |
| Dividend income | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 |
| Rental income | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 |
Annual results, as filed
| Line | 2024-03-31 | 2025-03-31 |
|---|---|---|
| Revenue from operations | 1,019.00 | 1,306.00 |
| Other income | 1.00 | 1.00 |
| Total income | 1,020.00 | 1,307.00 |
| Cost of materials consumed | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 |
| Employee benefit expense | 217.00 | 253.00 |
| Finance costs | 351.00 | 419.00 |
| Depreciation and amortisation | 13.00 | 17.00 |
| Other expenses | 76.00 | 85.00 |
| Total expenses | 704.00 | 848.00 |
| Profit before exceptional items and tax | 316.00 | 459.00 |
| Exceptional items | 0.00 | 0.00 |
| Profit before tax | 316.00 | 459.00 |
| Current tax | 77.00 | 122.00 |
| Deferred tax | 2.00 | -8.00 |
| Tax expense | 79.00 | 113.00 |
| Profit for the period | 237.00 | 345.00 |
| Profit attributable to owners | 237.00 | 345.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 |
| Other comprehensive income | -2.00 | -5.00 |
| Total comprehensive income | 235.00 | 340.00 |
| Earnings per share, basic | 2.35 | 3.21 |
| Earnings per share, diluted | 2.30 | 3.15 |
| Interest earned | 918.00 | 1,197.00 |
| Fees and commission income | 55.00 | 70.00 |
| Net gain on fair value changes | 17.00 | 18.00 |
| Dividend income | 0.00 | 0.00 |
| Rental income | 0.00 | 0.00 |
Balance sheet, as filed
| Line | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 |
|---|---|---|---|---|
| Total assets | 6,580.00 | 7,063.00 | 7,534.00 | 8,596.00 |
| Property, plant and equipment | 33.00 | 38.00 | 38.00 | 44.00 |
| Capital work-in-progress | 0.00 | 0.00 | 0.00 | 0.00 |
| Goodwill | 260.00 | 260.00 | 260.00 | 260.00 |
| Other intangible assets | 2.00 | 1.00 | 1.00 | 4.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash and cash equivalents | 427.00 | 225.00 | 64.00 | 265.00 |
| Total equity and liabilities | 6,580.00 | 7,063.00 | 7,534.00 | 8,596.00 |
| Equity | 2,599.00 | 2,778.00 | 2,968.00 | 3,190.00 |
| Equity share capital | 1,059.00 | 1,072.00 | 1,075.00 | 1,085.00 |
| Other equity | 1,540.00 | 1,706.00 | 1,893.00 | 2,105.00 |
| Total liabilities | — | — | 4,565.00 | 5,406.00 |
Cash flow, as filed
| Line | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 |
|---|---|---|---|---|
| Net cash from operating activities | -505.00 | -1,155.00 | -773.00 | -1,415.00 |
| Net cash from investing activities | 66.00 | 159.00 | 194.00 | 174.00 |
| Net cash from financing activities | 683.00 | 1,037.00 | 418.00 | 1,281.00 |
| Purchase of property, plant and equipment | 5.00 | 11.00 | 5.00 | 9.00 |
| Net increase in cash | 244.00 | 41.00 | -161.00 | 40.00 |
| con:CFO.BEFORE_TAX | -59.00 | -188.00 | -299.00 | -374.00 |
| con:INTEREST_RECEIVED.OPERATING | 440.00 | 933.00 | 534.00 | 1,160.00 |
| con:INTEREST_PAID.OPERATING | 171.00 | 342.00 | 182.00 | 389.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 44.00 | 90.00 | 58.00 | 124.00 |
| con:CF_OTHER.OPERATING | -671.00 | -1,468.00 | -769.00 | -1,689.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-08-16 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 64.02 | 64.05 | 63.73 | 60.66 | 55.19 | 55.05 | 54.75 | 53.33 | 53.19 | 0.53 | 0.53 | 0.52 | 0.52 |
| Domestic institutions | 7.03 | 12.41 | 11.94 | 13.52 | 16.24 | 16.26 | 16.46 | 17.66 | 17.00 | 0.18 | 0.20 | 0.22 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | 14.51 | 0.15 | 0.15 | 0.16 | 0.16 |
| Insurance companies | 0.00 | 0.81 | 0.89 | 0.97 | 0.85 | 0.74 | 0.69 | 0.74 | 1.09 | 0.01 | 0.03 | 0.05 | 0.04 |
| Foreign institutions | 3.00 | 2.74 | 2.23 | 2.86 | 4.72 | 4.56 | 4.92 | 6.53 | 7.12 | 0.07 | 0.07 | 0.06 | 0.07 |
| Public | 35.53 | 35.50 | 36.05 | 39.16 | 44.66 | 44.83 | 45.16 | 46.59 | 46.74 | 0.47 | 0.47 | 0.48 | 0.48 |
| Non-institutional | 25.50 | 20.35 | 21.88 | 22.78 | 23.69 | 24.01 | 23.78 | 22.40 | 22.62 | 0.22 | 0.21 | 0.19 | 0.20 |
| Shares outstanding | 1064210789 | 1064210789 | 1069057164 | 1073754986 | 1074215893 | 1076773367 | 1082748631 | 1085999088 | 1088821161 | 1093197401 | 1096472425 | 1106414229 | 1107306773 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Mr. Aseem Dhru | Key Management Personnel | Any other transaction, Remuneration | 50,710,000.00 | 2 |
| Mr. Narayan Barasia | Key Management Personnel | Any other transaction, Remuneration | 39,210,000.00 | 3 |
| Trustee of Employee welfare Trust | Controlled Employee Welfare trust | Loan | 10,880,000.00 | 1 |
| SBFC FINANCE PRIVATE LIMITED EMPLOYEES GGCA SCHEME | Post-employment benefit plan | Any other transaction | 8,680,000.00 | 1 |
| SBFC Home Finance Private Limited | Subsidiary Company | Any other transaction | 3,000,000.00 | 3 |
| Mr. Ravi Venkatraman | Independent Directors | Any other transaction | 900,000.00 | 1 |
| Mr. Neeraj Swaroop | Independent Directors | Any other transaction | 800,000.00 | 1 |
| Mr. Jay Mistry | Key Management Personnel | Any other transaction, Remuneration | 720,000.00 | 3 |
| Ms. Surekha Marandi | Independent Directors | Any other transaction | 700,000.00 | 1 |
| Mrs. Namrata Sajnani | Key Management Personnel | Remuneration | 670,000.00 | 1 |
| Mr. Uttam Koni Nayak | Independent Directors | Any other transaction | 600,000.00 | 1 |
| Mr. Rajesh Mannalal Agrawal | Independent Directors | Any other transaction | 100,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-31 | Q1FY27 | Read the call | |
| 2026-05-05 | Q4FY26 | Read the call | |
| 2026-01-31 | Q3FY26 | Read the call | |
| 2025-11-08 | Q2FY26 | Read the call | |
| 2025-07-31 | Q1FY26 | Read the call | |
| 2025-05-02 | Q4FY25 | Read the call | |
| 2025-01-30 | Q3FY25 | Read the call | |
| 2024-10-31 | Q2FY25 | Read the call | |
| 2024-08-02 | Q1FY25 | FINANCE LIMITED, SBFC FINANCE LIMITED | Read the call |
| 2024-05-06 | Q4FY24 | LIMITED | Read the call |
| 2024-02-02 | Q3FY24 | Read the call | |
| 2023-11-02 | Q2FY24 | LIMITED, SBFC FINANCE LIMITED | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY25 | Q2FY26 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | — | — | — | — | — | — | As I had maintained earlier in the call that we will be a little watchful, as how the events turn out and then depending upon those, we will decide ou… | Specifically, how do you plan to expand lending reach, strengthen customer acquisition in tier two and tier three markets, and leverage digital platfo… |
| Costs | — | — | — | — | — | — | So still maybe even though funding cost remains similar, then not much pressure on spreads would be there, that's what the indication is? | — |
| Debt and cash | — | — | — | So, of course you were the first one to highlight that there are some sort of stress building up or maybe customers are going through some sort of sea… | With strong capital adequacy and steady cash flow, how do you plan to sustain net interest margins while managing funding costs and credit risk? | So, do you do something differently where you actually after the loan get disbursed, you keep corroborating the GST or you do subsequent analysis whet… | From the macros like fiscal and trade deficits, interest rates, liquidity situation, GDP growth, money moving digitally, currency movements to the mic… | — |
| Demand | So, there is a demand on their incomes, more than what their incomes are in line. | — | A few questions, The first one is on co-lending co-origination given that you have built extensive branch network and you have about three and a half … | No. There's nothing sort of tightness per se, we are sitting on a large pipeline of approved credit. | — | So, the reality is that in the lending business everything affects you because lending is a derived demand. | Finance is a derived demand, and to understand its strength, we have to look at the primary demand in the economy. | Rising interest rates on sheer demand-supply situation in the economy is a certainty. |
| Guidance | It's a slightly more inclined curve right now, but nothing really material or dramatic and which is why we are not changing our credit cost guidance f… | For us, the outlook continues to be what we had guided, no change in guidance. | We have always been guiding that our ticket sizes are going to be in the range between 9% to 11%, so we have stuck on to that particular range, so the… | Since our road shows, and in every quarterly call thereafter our guidance has been growth at 5% to 7% quarter-on-quarter, cost reduction of 50 basis p… | So, we continue to guide with caution and there is no change in our stance that we have declared so far. | First is with respect to the overall OPEX and the employees, so there have been almost like 220 odd additions to the employee during the quarter, sir,… | There will be quarters like the quarter 4 where we will surprise ourselves, but this continues to be our guidance. | We have completed three years since listing, and if you remember, we used to guide a 50 basis points opex reduction every year. |
| Margin | Our OPEX continued to reduce and is at 4.6% for the quarter due to improved operating leverage, while we continue to increase our investments in branc… | We have crossed 14% ROE, and as more things go our way, in terms of what has been said as operating leverage, hopefully, it will have the effect on RO… | — | You guys keep needling the bank saying your net interest margin is falling so then they keep needling us. | The opex continued to improve due to enhanced operating leverage in spite of our consistent investment in our branch network. | We are originating a long tenure loan and so by that meaning the operating leverages will keep on improving. | Our opex is flat compared to previous quarter and is at 4.62% for the quarter, but improved by 39 basis points from Q4 of previous year due to operati… | Importantly, our loan-to-value ratios remain conservatively below 60%, in fact, closer to 56-57%, providing a strong margin of safety. |
| People | The first question is on employee attrition. | — | — | — | So, once you get the confidence on disbursals and on growing the business, is it fair to assume that your employee hiring will also step up? | So, Kunal, I think if you look at the total structure every quarter we have been adding close to around 6-7 odd branches, so if you probably cumulativ… | — | The costs are very different, the productivity asks are very different, the attrition levels are different, so you have to pencil in a lot more. |
| Pricing | — | — | — | Just extending the first question, what is your view on the pricing environment at this point of time? | — | Just one last point here is one of the large private sector banks has significantly raised lending rates in business loans and does that mean that it … | I mean, I'm just curious how the pricing is -- evolve for you? | In terms of our pricing, spreads for the last quarters have been at 9%. |
| Revenue growth | 7,715 crore with a reported growth of 33% on a YoY basis and 8% on a QoQ basis. | So, I don't think we are chasing growth at the cost of credit or at the cost of an operating risk that may come along with it. | — | 8,148 crores with a growth of 30% on a Y-o-Y basis and 6% on a Q-o-Q basis, with 99% of our book being secured by properties and gold. | We are on track to end this fiscal year FY '26 with an AUM growth of 5% to 7% quarter-on- quarter, a 50 basis points reduction in operating cost and c… | In the consumer end of the spectrum, the worry would be whether the money is going into creating assets or money going into consumption which could no… | While one knows that the top line is vanity, bottom line is sanity, and cash flow is reality, the ultimate measure of an NBFC will always be scale, pr… | In terms of business, our AUM for the March '26 is INR 11,270 crores with a growth of 29% on a Y-o-Y basis and 8% on a Q-o-Q basis, which is, the book… |