SG Finserve, a fast-growing NBFC focused on digital supply chain financing, has announced Q1 FY26 results with continued growth in profitability, disbursements and asset quality. Backed by marquee investors Ashish Kacholia and Madhusudan Kela, SG Finserve is leading the MSME financing space.
🔹 SG Finserve Q1 FY26 Key Highlights
- PAT: INR 24.52 crore (3% QoQ | 27% YoY)
- Operating Income: INR 67.59 crore (25% QoQ | 55% YoY)
- NII: INR 42.79 crore (20% QoQ | 37% YoY)
- Gross Disbursements: INR 5,284 crore (4% QoQ | 22% YoY)
- AUM: INR 2,630 crore (13% QoQ | 86% YoY)
- ROE: 9.54%
- ROA: 4.68%
“We are happy with our Q1 FY26 performance, with consistent profitability, strong growth in disbursements and expansion of anchor partnerships. Our continued investments in digital infrastructure, combined with risk management and deep anchor engagement, are making SG Finserve a leader in India’s MSME supply chain financing space”
— Sorabh Dhawan, Chief Executive Officer, SG Finserve
🔹 Backed by Market Veterans
SG Finserve enjoys strong interest from high-conviction investors:
- Madhusudan Kela holds 9,51,773 shares (1.70% stake), valued ~INR 38.8 crore
- Ashish Kacholia owns 6,38,366 shares (1.14% stake), valued ~INR 26.1 crore
🔹 Digital-First Lending for India’s Supply Chain Backbone
A registered NBFC under RBI, SG Finserve offers credit solutions to MSMEs, OEMs, dealers, retailers, and distributors — entirely through a tech-enabled, digital platform. Notable achievements as of June 2025 include:
- 3.86 lakh+ invoices financed
- INR 46,382 crore in gross disbursements
- Over 1,000 MSMEs served
- Proprietary AI-driven borrower scoring system
- Launch of a Customer Mobile App for real-time loan management
- Credit Monitoring Tool under development, expected by Sept 2025
🔹 Secured Book, Strong Ratings, Capital Backing
- Loan book stands at INR 2,504 crore, of which 80% is secured by receivables and funded inventory
- “Stop supply” arrangements with anchor corporates offer downside protection
- Rated AA(CE)/A1+ by CRISIL and ICRA
- Equity infusion of INR 450 crore committed (INR 112 crore received; INR 338 crore due by April 2026)
- Plans to raise INR 4,500 crore in banking limits (existing: INR 1,766 crore)
🔹 Anchor Partnerships Powering Growth
SG Finserve has signed MoUs worth INR 6,400 crore with prominent Indian conglomerates, including:
Tata Motors, Ashok Leyland, Vedanta Group, JSW-MG Motors, Whirlpool, Redington, Bajaj Electricals, Polycab, Shyam Metalics, APL Apollo, ArcelorMittal Nippon Steel, Oppo, and more.
Anchor ecosystem expanded by INR 900 crore QoQ, and the company aims to deepen wallet share with existing partners while onboarding new anchors.
🔹 Geographic Reach & Diversified Portfolio
Operating across 25 Indian cities, SG Finserve has built a pan-India presence with regionally diversified exposure:
- West India: 40%
- North & South: 28% each
- East: 4%
🔹 Roadmap: INR 6,000 Cr AUM by FY27
SG Finserve’s three-year growth journey has seen its AUM rise from INR 1,410 crore in Q1 FY25 to INR 2,630 crore in Q1 FY26. The company now targets a INR 6,000 crore AUM by FY27, supported by:
- Strong capital backing
- Expanding anchor base
- Banking lines in the pipeline
- Technology-led scale-up
Conclusion
SG Finserve’s disciplined growth, zero NPAs, marquee investors, and digital moat make it one of India’s most promising NBFCs. Backed by veterans like Madhusudan Kela and Ashish Kacholia and led by a seasoned team from HDFC, Kotak, and ICICI, SG Finserve is set to redefine MSME lending at scale.
With its eyes on an INR 6,000 Cr loan book, further anchor onboarding, and enhanced AI credit monitoring, SG Finserve is well-positioned to shape the future of Indian supply chain finance.
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