NPR Finance Limited is a **Non-Systemically Important Non-Banking Financial Company (NBFC-ND)**, registered under Section **45-IA** of the RBI Act, 1934. Headquartered in **Kolkata**, the company specializes in credit inclusion for the **MSME** sector and rural populations, providing customized financial products to segments often underserved by traditional banking institutions. --- ### **Strategic Pivot: From Diversified Assets to Focused Lending** NPR Finance is currently undergoing a fundamental transformation, shifting from a multi-sector conglomerate model to a streamlined, customer-centric financial services provider. * **Wind Power Exit:** The company formally exited the renewable energy sector on **June 1, 2023**. This followed the **October 2022** sale of wind turbines and land in Maharashtra to **Hindustan Unilever Ltd.** for **₹2.80 Crores**, a move driven by rising maintenance costs and uncompetitive market tariffs. * **Segment Rationalization:** Management has aggressively closed unviable divisions, including the **Money Changing Division (Dec 2021)** and the **New Delhi branch (April 2024)**. * **Digital Transformation:** The company is integrating **Artificial Intelligence (AI)**, machine learning, and cloud-based solutions to scale operations and enhance the precision of its credit underwriting. --- ### **Core Business Segments & Revenue Drivers** The company’s operations are now concentrated into two primary pillars: #### **1. Financial Services (Primary Growth Engine)** This segment is the core driver of revenue and includes: * **Group Loans:** Joint Liability lending targeting rural micro-entrepreneurs. * **Hypothecation Loans:** Credit secured against vehicles. * **Unsecured Personal Loans:** High-yield lending to individuals. * **Inter-Corporate Deposits (ICDs):** Short-term lending to corporate entities. * **Treasury Operations:** Active trading and investment in shares and securities. #### **2. Real Estate & Investment Properties** NPR maintains a strategic interest in real estate as a hedge and collateral base, focusing on: * **Investment Properties:** Assets located in **Kolkata (GC Avenue)**. * **Land Advances:** Strategic holdings in **Sodepur**. * **Sector Outlook:** Management views real estate as a cornerstone for collateralized growth, benefiting from rapid urbanization and infrastructure development. --- ### **Operational Footprint & Network Optimization** The company is executing a "slow and cautious" geographic strategy, closing unviable urban centers while expanding into high-potential rural hubs. | Status | Locations | | :--- | :--- | | **Active Branches** | Bagdah (Centres I & II), Cooch Behar (Centres I & II), Duttapukur, **Lakshikantapur** (Opened Sept 2023) | | **Pending Closures** | Siliguri, Nimtala, and Bardhaman (Effective **Dec 2025**); Ahmedabad (Effective **March 2026**) | **Human Capital:** Reflecting the reduced operational scale and branch consolidation, the total headcount decreased to **58** employees as of March 31, 2025, down from **79** in the previous year. --- ### **Financial Performance Summary** NPR Finance has returned to profitability at the PAT level, though total turnover has contracted as the company prioritizes asset quality over volume. | Metric (₹ in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :---: | :---: | :---: | | **Total Turnover** | **7.17** | **9.47** | **12.74** | | **Operating Profit** | **0.27** | **0.31** | - | | **Profit / (Loss) After Tax** | **0.59** | **1.09** | **(2.42)** | | **Total Comprehensive Income** | **2.57** | **(2.58)** | **(3.73)** | | **Owned Funds** | **50.08** | **47.25** | **49.83** | **Key Financial Observations:** * **Revenue Compression:** The decline in turnover to **₹7.17 crore** is attributed to lower interest income from financing and reduced proceeds from the sale of securities. * **Profitability Nuances:** The FY24 PAT of **₹1.09 crore** was bolstered by **exceptional income of ₹1.14 crore**, which included a **₹1.02 crore profit** from the sale of a Mumbai office and **₹12.87 lakhs** from preference share redemptions. * **Cost Management:** Finance costs dropped by **28.80%** in the latest period following the repayment of ICDs. Conversely, other expenses fell by **32%** following the wind power exit. * **Capital Strength:** The company maintains a healthy **Paid-up Share Capital** of **₹5.99 crore**. It transferred **₹11.86 lakhs** to Statutory Reserves in the latest period. No dividend was recommended for the most recent fiscal year. --- ### **Risk Profile & Mitigation Framework** Management has tightened risk controls to navigate the volatility of the MSME and unsecured lending sectors. * **Credit Risk & NPA Management:** The company has tightened its definition of default to **90 days** overdue (down from **150–180 days**). As of **August 2025**, the company reported **no overdue amounts exceeding 90 days**. * **Recovery Success:** Following significant COVID-19 related write-offs in the Group Loan segment, the company achieved a **126.94% increase in recovery** against bad debts. * **Operational & Fraud Risk:** A **₹4.68 lakh fraud** by an ex-employee at the Burdwan Branch is currently under a fidelity insurance claim process. * **Liquidity Risk:** Managed through the regular monitoring of the maturity profile of assets and liabilities to ensure coverage of **Inter-corporate Deposits**. **Contingent Liabilities (as of August 2024):** * **Income Tax Demands:** **₹112.54 Lakhs** (Appeals pending for AY 2017-18 and 2018-19). * **Legal Suits:** **3** customer suits (**₹7.27 Lakhs**) and **3** labor/civil court cases (**₹4.54 Lakhs**). --- ### **Corporate Governance & Ownership** * **Promoter Structure:** The company is an associate of **M/s Rani Leasings & Finance Private Limited** (**22.09%** stake). Total Promoter Group holding is **68.02%**. * **Board Leadership:** Led by Chairperson **Ashok Kumar Singhania** (Independent) and Managing Director **Pawan Kumar Todi**. * **Key Appointments:** * **Pawan Kumar Todi:** Re-appointed as MD for **3 years** (starting Nov 2025). * **Sarika Mehra:** Re-appointed as Whole-time Director for **3 years** (starting Sept 2025). * **Secretarial Auditor:** **M/s M Shahnawaz & Associates** appointed for a **5-year term** (2025-2030). * **Listing & Compliance:** Listed on the **BSE (Scrip Code: 530127)**. **93.52%** of equity is dematerialized. The company recently shifted its registered office to **Bidhannagar, Kolkata** (effective June 2024).