Financial Services
Icra Limited (icra) Q4 FY26: Revenue Up 28.4%, PBT at ₹72.8 Cr
ICRA Limited announced its Q4 FY26 results with a 28.4% revenue increase and a PBT of ₹72.8 crore, marking a strong performance.
ICRA Limited announced its results for the fourth quarter and year ended March 31, 2026, on May 21, 2026. The consolidated revenue from operations increased 28.4% to ₹174.9 crore for the fourth quarter ended March 31, 2026, compared to ₹136.2 crore in the corresponding quarter of the previous year. Profit before exceptional items and tax (PBT) for the quarter stood at ₹72.8 crore. For the year ended March 31, 2026, consolidated revenue from operations increased 20.4% to ₹599.5 crore compared to ₹498.0 crore in the corresponding previous year. The PBT for the year increased 10.0% to ₹257.4 crore from ₹234.0 crore in the corresponding previous year.
Acquisition Impact
The consolidated financial performance for the quarter and the year includes the impact of the acquisition of Fintellix India Private Limited, including the amortisation of acquisition-related intangibles. During the year, the company recognized a one-time exceptional charge arising from the implementation of the new Labour Codes, primarily relating to gratuity and leave-related provisions. This non-recurring charge has been presented under ‘Exceptional Items’ and is excluded from the PBT reported above for better comparability.
Dividend Announcement
The Board of Directors has recommended a final dividend of ₹105 per equity share (face value ₹10 each) for the financial year ended March 31, 2026, including a special dividend of ₹35 per equity share to commemorate the company’s 35th year of operations. This compares with a dividend of ₹60 per equity share declared in the previous year. The total dividend pay-out for the year amounts to ₹101.3 crore, including the special dividend component of ₹33.8 crore, as against ₹57.9 crore in the previous year.
Commenting on the results, Mr. Ramnath Krishnan, MD & Group CEO, ICRA Limited, said: ‘ICRA delivered a strong quarterly performance, with steady momentum in Ratings and robust growth in Research & Analytics. The acquisition of Fintellix has strengthened our product-led risk analytics and regulatory solution capabilities, enabling more integrated offerings for financial institutions. We remain focused on disciplined execution and sustained investments in analytics and technology to support long-term value creation.’ The company expects India’s GDP growth to moderate to 6.2% in FY2027 from the projected 7.5% in FY2026, with risks tilted to the downside.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of ICRA Limited
ICRA Limited belongs to the Financial Services › Financial Data & Stock Exchanges sector. Here’s a quick read on where the business and the stock stand today.
ICRA trades in the lower quarter of its 52-week range. Industry-leading margins of 32.9% reflect exceptional pricing power and operational efficiency. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gains 0.5% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 13.5% and profits at 14.8%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of ICRA Limited.
Credit Services
Onemi Technology Solutions Limited (kissht) Q2fy27 Business Update: User Base and AUM Surge
OnEMI Technology Solutions Limited (KISSHT) Q2FY27 update: user base up 32.6%, AUM grows 68.4% to ₹9,317 Cr.
OnEMI Technology Solutions Limited (NSE: KISSHT), a technology-first digital lender to India’s mass market and mass affluent segments, has released its provisional business update for Q2FY27. The company reported a significant surge in its registered user base and assets under management (AUM).
User Base Expansion
The registered user base stood at 79.54 million as of September 30, 2026, compared to 59.96 million as on September 30, 2025, marking an impressive 32.6% increase. This growth signifies the company’s expanding reach and acceptance among the target demographic.
AUM Growth
Assets under management (AUM) grew by 68.4% to approximately ₹9,317 crore as of September 30, 2026, compared to ₹5,533 crore as of September 30, 2025. AUM increased by approximately ₹1,316 crore during Q2FY27, representing a 16.4% quarter-over-quarter (QoQ) increase. This robust growth highlights the company’s strong performance in managing and growing its financial assets.
These figures reflect the company’s strategic initiatives and operational efficiency, positioning it favorably in the competitive digital lending landscape.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of OnEMI Technology Solutions Limited
OnEMI Technology Solutions Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
OnEMI gains 19.1% over three months and trades near its 52-week highs. The PEG of 0.14 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. The business compounds revenue at 16.6% and profits at 140.9% CAGR. That is strong double-digit growth on both counts. The stock trades at 93% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 16.6%, profits at 140.9%, and the PEG sits at 0.14 — below its growth rate. That combination is rare. Check Fundamentals of OnEMI Technology Solutions Limited.
Credit Services
Paisalo Digital Limited (paisalo) Concludes H1 FY27 with Enhanced Capital Strength and Funding Flexibility
Paisalo Digital Limited (NSE: PAISALO) concludes H1 FY27 with enhanced capital strength, raising ₹294.9 crore through public NCDs.
Paisalo Digital Limited (NSE: PAISALO) successfully executed a series of strategic capital market initiatives during the half-year ended September 2026, reinforcing its commitment to sustainable growth and prudent financial management. The company raised ₹294.9 crore through a public NCD issue under its ₹900 crore shelf programme, followed by a ₹124.47 crore listed, dual rated, unsecured private placement NCD issuance in September 2026.
Strengthening Funding Base
These transactions reflect strong investor confidence, broaden the Company’s funding base, and support sustainable business growth. Additionally, Paisalo diversified its funding profile through the Commercial Paper market, raising over ₹177 crore during H1 FY27.
Enhanced Liquidity Through Commercial Papers
The issuance of ₹20 crore in September 2026 demonstrates continued access to short-term capital markets, enhancing funding flexibility, liquidity management, and cost-efficient resource mobilization.
Proactive Liability Management
The company successfully redeemed debt obligations during the month, including ₹94 crore of unlisted NCDs and ₹50 crore of listed secured NCDs on maturity, showcasing strong liquidity management and commitment to timely debt servicing.
As a result, Paisalo Digital Limited is well-positioned to capture future growth opportunities, reflecting the resilience of its business model and the confidence of investors and stakeholders in its long-term vision.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Paisalo Digital Limited
Paisalo Digital Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Paisalo holds in the upper half of its 52-week range, a sign the market backs the stock. The PEG of 0.76 signals undervaluation relative to growth. It is a potential re-rating candidate. Industry-leading margins of 45.8% reflect exceptional pricing power and operational efficiency. The stock trades at 72% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 52.7%, profits at 36.3%, and the PEG sits at 0.76 — below its growth rate. That combination is rare. Check Fundamentals of Paisalo Digital Limited.
Capital Markets
Sg Finserve Limited (sgfin) Announces Loan Book Growth of 98% Yoy for H1-fy27
SG Finserve Limited (SGFIN) reports a strong loan book growth of approximately INR 5,694 crores for H1-FY27, marking a 98% year-on-year increase.
SG Finserve Limited (SGFIN) has announced its impressive financial performance for the first half of FY27. The company closed H1-FY27 with a loan book of approximately INR 5,694 crores, marking a robust year-on-year growth of ~98%.
Strong Year-on-Year Growth
The significant growth in the loan book is a testament to SGFIN’s strong business momentum. Compared to the same period last year, the loan book has expanded by a remarkable 98%. This growth reflects the company’s ability to leverage its extensive network and technological capabilities to provide tailored financing solutions to corporate and MSME customers.
Quarter-on-Quarter Growth
Moreover, SGFIN has demonstrated impressive quarter-on-quarter growth, with a ~25% increase in the loan book from June 30, 2026, to September 30, 2026. This consistent growth highlights the company’s capacity to attract and retain a growing customer base.
As a result, SG Finserve Limited continues to reinforce its position as a reliable and strong financial institution, with an AA-/Stable/A1+ rating from CRISIL and AA(CE)/Stable/A1+ rating from ICRA. The company remains committed to delivering exceptional financial services through its digital first, supply chain-focused approach.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of SG Finserve Limited
SG Finserve Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
SG falls 8.6% over three months and has not found a floor yet. The PEG of 0.25 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E of 1.37 is elevated. As a result, debt servicing will compress free cash flow in a high-rate environment. The stock holds at 70% of its 52-week range with RSI at 37. In other words, neither side has a clear edge right now. Revenue grows at 102.3% and profits at 90.7% CAGR, with D/E of 1.37. Meanwhile, the stock dips 8.6% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of SG Finserve Limited.
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