Trustedge Capital is a small, tightly run Indian lender that operates more like a private family office than a sprawling finance company - it takes money from its own shareholders and a few banks, lends it out at a careful spread, and parks the rest in a hand-picked basket of blue-chip stocks for the long term. Originally incorporated in 1995 as Adinath Exim Resources, it rebranded to Trustedge Capital in mid-2025, a move that signalled a fresh strategic push backed by a rights issue and a modernised board. The recurring approach is one of extreme simplicity: a single business segment, no subsidiaries, and a two-engine model - lending for steady income and an equity portfolio for patient accretion - run by a team of just two permanent employees. # Business segments A single business with two engines - a lending book that generates interest income and a long-term equity portfolio that quietly compounds - both run from the same balance sheet. ## 1. Lending: the interest-earning engine **The company lends unsecured money to businesses and individuals, collecting interest between 8.25% and 10% a year, and keeps a tight grip on repayments so that no loan was overdue by more than ninety days as of March 2025.** - **Plain-vanilla loans, no deposits** - it is a non-deposit-taking NBFC (a lender that cannot accept public savings), so it funds its loan book entirely through bank borrowings and shareholder equity, which means its cost of money is higher than a bank’s and its loans carry higher interest rates as a result. - **Bill discounting is the core** - the main activity is bill discounting, a form of short-term lending where the company buys a customer’s unpaid invoice at a discount and collects the full amount later, earning the difference as interest. - **Unsecured, so discipline is everything** - every loan is made without collateral and monitored under the RBI’s strict asset-classification rules; the fact that nothing was past due for more than ninety days at year-end shows a conservative credit culture. - **Fresh capital for fresh loans** - a rights issue in October 2025 raised roughly ₹27 crore (33.74 lakh shares at ₹80 each), with the stated purpose of expanding loan disbursals, giving the lending engine more fuel without adding bank debt. - **A side desk for advice** - the company also offers corporate advisory services to clients across manufacturing, construction, banking, power, retail, hospitality and IT, which likely feeds its lending pipeline by keeping it close to businesses that need capital. ## 2. Investment portfolio: the long-term compounding engine **Alongside lending, the company holds a portfolio of quoted stocks and mutual funds that it does not trade - it buys leaders in sectors it believes will stay accretive and books the dividends and fair-value gains through other comprehensive income.** - **Buy-and-hold, not buy-and-sell** - all quoted investments are designated as Fair Value Through Other Comprehensive Income (FVOCI), meaning they are explicitly not held for trading; the company states it invests for the long term. - **Dividends add a second revenue stream** - the company’s operating income comes from two sources: interest on loans and dividends on its equity holdings, giving it a cushion when lending opportunities are thin. - **A portfolio of household names** - past disclosures show it has held shares in companies like ICICI Bank, L&T, Maruti Suzuki, Siemens, State Bank of India, Tech Mahindra and Power Grid, suggesting a preference for large, liquid, dividend-paying stocks. - **No distractions, no subsidiaries** - the company has no investments in associates or joint ventures, so the portfolio is purely a financial asset, not a web of controlled operating companies. # Group structure and partners **A family-promoted, board-governed NBFC with no subsidiaries, no foreign ties, and a freshly assembled leadership team blending promoter continuity with outside banking expertise.** - **Promoter family at the helm** - Managing Director Manoj Shantilal Savla has spent 29 years with the company and holds roughly 4.7% of the equity; his daughter-in-law serves as Whole Time Director and his son, an engineer with an American MBA, joined the board as a non-executive promoter director in mid-2026. - **Independent voices in the room** - the four-member board includes two independent directors, one of whom is a 40-year banking veteran with stints at SBI Capital Markets and SBI Pension Funds, brought in during the 2026 governance refresh. - **No group entanglements** - the company is not part of any Core Investment Company structure, has no subsidiaries, joint ventures or associates, and has never had foreign investment or collaboration, keeping its structure exceptionally clean. - **Lean operations, outsourced functions** - with only two permanent employees on the payroll, the company relies on external service providers for share registry (Bigshare Services) and leases its office premises from related parties under short-term agreements.