Ugro Capital Q1FY27: GROx disburses ₹1,853 Cr, active customers cross 3.4 Lakh
Ugro Capital's Q1'FY27 results show GROx disbursing ₹1,853 crore, with AUM reaching ₹3,003 crore. Active customers crossed 3.4 lakh. Net disbursements grew 59% YoY to ₹2,551 crore. PBT rose 28% YoY to ₹61.5 crore. Total AUM stood at ₹15,013 crore. The company aims for a 3.0-3.5% ROA by FY29.
The strong Q1'FY27 results, driven by the successful scaling of the GROx platform and the completion of the branch network build-out, along with strategic realignment yielding improved profitability and growth prospects, are likely to have a substantial positive impact on investor sentiment and the company's valuation.
The company reported significant growth in disbursements, customer acquisition, and AUM, along with improved profitability and asset quality, indicating a positive operational and financial performance.
Ugro Capital Limited reported strong performance for the quarter ended June 30, 2026 (Q1’FY27), driven by the rapid scale-up of its embedded merchant finance platform, GROx (formerly MyShubhLife). GROx disbursed ₹1,853 crore in Q1’FY27, with over 60,000 loans disbursed monthly. The Gross Assets Under Management (AUM) for GROx increased to ₹3,003 crore as of June 30, 2026, a 32% quarter-on-quarter rise. The portfolio maintained strong asset quality with a yield of approximately 26% and GNPA of 2.1%.
The company's customer base expanded significantly, serving approximately 3.4 lakh active customers, with tens of thousands added monthly through a fully digital process. The target is to reach 4.5 lakh active customers by FY29.
Net disbursements across the company increased to ₹2,551 crore, up 59% year-on-year and 19% quarter-on-quarter. Ugro Capital has completed the expansion of its Emerging Market branch network, now comprising 317 branches across 13 states. The Emerging Market business disbursed ₹592 crore during the quarter, with AUM reaching ₹3,896 crore and a portfolio yield of approximately 18.5% and GNPA of 2.1%.
Overall, the company reported a Profit Before Tax (PBT) of ₹61.5 crore, a 28% year-on-year increase, and Profit After Tax (PAT) of ₹67.9 crore. Total AUM stood at ₹15,013 crore, up 24% year-on-year, with overall GNPA stable at 2.6% and collection efficiency at 98%. The Capital to Risk Weighted Assets Ratio (CRAR) was 21.0%, with a leverage of 3.6x and a liquidity buffer of ₹1,864 crore.
In July 2026, Ugro Capital achieved its highest ever monthly disbursement of over ₹1,000 crore. The company reiterated its strategic realignment announced in February 2026, focusing on the higher-yielding GROx platform and Emerging Market LAP, while discontinuing disbursements in the lower-yielding Prime lending business. Both focused businesses are expected to grow at around 25% CAGR, while the Prime portfolio runs down at approximately 20% annually. Operating expenses declined 42% to ₹118.5 crore quarterly due to a planned annualised cost optimisation of ₹220 crore.
Shachindra Nath, Founder and Managing Director, expressed confidence in achieving the FY29 target of a 3.0 to 3.5 percent steady-state Return on Assets (ROA).
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