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Spandana Sphoorty Financial Ltd

SPANDANA·NSE
₹227.38-0.55%Tue, 22 Sept '26
Industry:Finance & Investments - Microfinance
Indices:

Spandana Sphoorty Financial Ltd

SPANDANA
NSE
₹227.38
-0.55%
|Tue, 22 Sept '26
SOICxStockScans Reports
Industry
Finance & Investments - Microfinance
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Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
6M
Price
Charts
Documents

Quick Ratios

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Mkt Cap
Market Capitalization
₹2,016Cr
Close
Close Price
₹227.45
Industry
Industry
Finance & Investments - Microfinance
PE
Price To Earnings
—
PS
Price To Sales
2.00
Revenue
Revenue
₹1,007Cr
Rev Gr TTM
Revenue Growth TTM
-48.30%
PAT Gr TTM
PAT Growth TTM
77.46%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
610626676710682552415300230234260284
Growth YoY
Revenue Growth YoY%
105.076.535.738.811.7-11.9-38.6-57.7-66.3-57.5-37.4-5.5
Interest Expended
Interest ExpendedCr
228250249259258229185154120109126132
Expenses
ExpensesCr
240231281398727922804627443258139151
Financing Profit
Financing ProfitCr
14214514552-303-600-575-480-333-133-51
FPM
FPM%
23.323.221.57.4-44.5-108.7-138.5-159.9-145.1-56.7-2.10.3
Other Income
Other IncomeCr
3031342720184410111719
Depreciation
DepreciationCr
567456744443
PBT
PBTCr
16817017275-289-588-578-481-327-125818
Tax
TaxCr
42434419-72-147-143-121-78-3036
PAT
PATCr
12512712956-216-440-434-360-249-95512
Growth YoY
PAT Growth YoY%
126.878.521.9-53.4-272.8-445.5-437.6-746.6-15.278.4101.2103.3
NPM
NPM%
20.520.419.07.8-31.7-79.8-104.7-119.9-108.5-40.52.04.2
EPS
EPS₹
16.817.017.27.4-28.9-58.7-57.9-48.0-32.8-11.90.71.5
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
610626676710682552415300230234260284
Growth YoY
Revenue Growth YoY%
105.076.535.738.811.7-11.9-38.6-57.7-66.3-57.5-37.4-5.5
Interest Expended
Interest ExpendedCr
228250249259258229185154120109126132
Expenses
ExpensesCr
240231281398727922804627443258139151
Financing Profit
Financing ProfitCr
14214514552-303-600-575-480-333-133-51
FPM
FPM%
23.323.221.57.4-44.5-108.7-138.5-159.9-145.1-56.7-2.10.3
Other Income
Other IncomeCr
3031342720184410111719
Depreciation
DepreciationCr
567456744443
PBT
PBTCr
16817017275-289-588-578-481-327-125818
Tax
TaxCr
42434419-72-147-143-121-78-3036
PAT
PATCr
12512712956-216-440-434-360-249-95512
Growth YoY
PAT Growth YoY%
126.878.521.9-53.4-272.8-445.5-437.6-746.6-15.278.4101.2103.3
NPM
NPM%
20.520.419.07.8-31.7-79.8-104.7-119.9-108.5-40.52.04.2
EPS
EPS₹
16.817.017.27.4-28.9-58.7-57.9-48.0-32.8-11.90.71.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
5871,0431,4351,4831,4631,4012,4012,3551,0241,007
Growth
Revenue Growth%
77.637.63.3-1.3-4.271.4-1.9-56.5-48.3
Interest Expended
Interest ExpendedCr
232358356423540458927932508487
Expenses
ExpensesCr
672104868748349908932,8481,467991
Financing Profit
Financing ProfitCr
28847559318589-48581-1,425-952-470
FPM
FPM%
49.145.541.312.56.1-3.424.2-60.5-92.9-46.7
Other Income
Other IncomeCr
0534231776110694258
Depreciation
DepreciationCr
679891120231615
PBT
PBTCr
2834736182009718671-1,379-925-427
Tax
TaxCr
9516226755275170-344-226-100
PAT
PATCr
1883123521457012501-1,035-699-327
Growth
PAT Growth%
66.012.8-58.7-52.0-82.33,941.3-306.732.577.5
NPM
NPM%
32.029.924.59.84.80.920.9-44.0-68.3-32.5
EPS
EPS₹
42.553.553.521.410.21.667.0-138.1-91.0-42.5
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
5871,0431,4351,4831,4631,4012,4012,3551,0241,007
Growth
Revenue Growth%
77.637.63.3-1.3-4.271.4-1.9-56.5-48.3
Interest Expended
Interest ExpendedCr
232358356423540458927932508487
Expenses
ExpensesCr
672104868748349908932,8481,467991
Financing Profit
Financing ProfitCr
28847559318589-48581-1,425-952-470
FPM
FPM%
49.145.541.312.56.1-3.424.2-60.5-92.9-46.7
Other Income
Other IncomeCr
0534231776110694258
Depreciation
DepreciationCr
679891120231615
PBT
PBTCr
2834736182009718671-1,379-925-427
Tax
TaxCr
9516226755275170-344-226-100
PAT
PATCr
1883123521457012501-1,035-699-327
Growth
PAT Growth%
66.012.8-58.7-52.0-82.33,941.3-306.732.577.5
NPM
NPM%
32.029.924.59.84.80.920.9-44.0-68.3-32.5
EPS
EPS₹
42.553.553.521.410.21.667.0-138.1-91.0-42.5

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
306064646971717180
Reserves
ReservesCr
2161,8302,5622,6852,9433,0283,5732,5622,049
Borrowings
BorrowingsCr
2,3312,9683,0255,3733,7726,0749,4255,6563,943
Other Liabilities
Other LiabilitiesCr
1,18875326455292209313205174
Total Liabilities
Total LiabilitiesCr
3,7644,9325,9778,5777,0769,38313,3838,4946,246
Fixed Assets
Fixed AssetsCr
917211430353422
Cash Equivalents
Cash EquivalentsCr
2083522571,3811,2021,0051,8721,8441,275
Other Assets
Other AssetsCr
3,5564,5715,7047,1755,8608,34811,4756,6164,950
Total Assets
Total AssetsCr
3,7644,9325,9778,5777,0769,38313,3838,4946,246
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
306064646971717180
Reserves
ReservesCr
2161,8302,5622,6852,9433,0283,5732,5622,049
Borrowings
BorrowingsCr
2,3312,9683,0255,3733,7726,0749,4255,6563,943
Other Liabilities
Other LiabilitiesCr
1,18875326455292209313205174
Total Liabilities
Total LiabilitiesCr
3,7644,9325,9778,5777,0769,38313,3838,4946,246
Fixed Assets
Fixed AssetsCr
917211430353422
Cash Equivalents
Cash EquivalentsCr
2083522571,3811,2021,0051,8721,8441,275
Other Assets
Other AssetsCr
3,5564,5715,7047,1755,8608,34811,4756,6164,950
Total Assets
Total AssetsCr
3,7644,9325,9778,5777,0769,38313,3838,4946,246

Cash Flow

Consolidated
Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-1,855-573-35-1,754863-2,171-2,6793,669882
Investing Cash Flow
Investing Cash FlowCr
-4-33-48748236-175-172-119165
Financing Cash Flow
Financing Cash FlowCr
1,6736504342,348-1,3072,4333,435-3,712-1,514
Net Cash Flow
Net Cash FlowCr
-18644-891,076-40886585-162-466
Free Cash Flow
Free Cash FlowCr
-1,859-580-40-1,766851-2,184-2,7043,647
CFO To EBITDA
CFO To EBITDA%
-643.7-120.7-5.9-947.7971.34,562.0-461.2-257.4-92.7
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-1,855-573-35-1,754863-2,171-2,6793,669882
Investing Cash Flow
Investing Cash FlowCr
-4-33-48748236-175-172-119165
Financing Cash Flow
Financing Cash FlowCr
1,6736504342,348-1,3072,4333,435-3,712-1,514
Net Cash Flow
Net Cash FlowCr
-18644-891,076-40886585-162-466
Free Cash Flow
Free Cash FlowCr
-1,859-580-40-1,766851-2,184-2,7043,647
CFO To EBITDA
CFO To EBITDA%
-643.7-120.7-5.9-947.7971.34,562.0-461.2-257.4-92.7

Ratios

Consolidated
Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
3,7763,8872,2963,7816,0061,6741,4592,016
Price To Earnings
Price To Earnings
10.726.833.1307.912.0
Price To Sales
Price To Sales
2.62.61.62.72.50.71.42.0
Price To Book
Price To Book
1.41.40.81.21.60.60.70.9
EV To EBITDA
EV To EBITDA
11.042.654.8-186.023.4-3.9-4.3-10.0
Profitability Ratios
Profitability Ratios
FPM
FPM%
49.145.541.312.56.1-3.424.2-60.5-92.9-46.7
NPM
NPM%
32.029.924.59.84.80.920.9-44.0-68.3-32.5
ROCE
ROCE%
20.017.117.37.79.45.212.2-5.4-6.9-6.9
ROE
ROE%
76.616.513.45.32.30.413.7-39.3-32.8-32.8
ROA
ROA%
5.06.35.91.71.00.13.7-12.2-11.2-11.2
Solvency Ratios
Solvency Ratios
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
3,7763,8872,2963,7816,0061,6741,4592,016
Price To Earnings
Price To Earnings
10.726.833.1307.912.0
Price To Sales
Price To Sales
2.62.61.62.72.50.71.42.0
Price To Book
Price To Book
1.41.40.81.21.60.60.70.9
EV To EBITDA
EV To EBITDA
11.042.654.8-186.023.4-3.9-4.3-10.0
Profitability Ratios
Profitability Ratios
FPM
FPM%
49.145.541.312.56.1-3.424.2-60.5-92.9-46.7
NPM
NPM%
32.029.924.59.84.80.920.9-44.0-68.3-32.5
ROCE
ROCE%
20.017.117.37.79.45.212.2-5.4-6.9-6.9
ROE
ROE%
76.616.513.45.32.30.413.7-39.3-32.8-32.8
ROA
ROA%
5.06.35.91.71.00.13.7-12.2-11.2-11.2
Solvency Ratios
Solvency Ratios
Spandana Sphoorty Financial is a rural lender that turns small groups of women into a mutual guarantee, so a vegetable vendor or a tailor who has no collateral can get a loan. It began in 1998 when the founder lent a ragpicker in Guntur the money to buy her own cart-something no bank would do-and the borrower repaid from her higher earnings and started saving. That same approach now reaches more than 1.1 million women across 20 states: doorstep service, tiny ticket sizes, and a cost structure built to make a margin on loans that are too small for anyone else to bother with. # Business segments A single engine-group microfinance for low-income women-delivered through a vast branch network, with a small secured-lending subsidiary being folded back in. ## 1. Joint Liability Group microfinance: the core lending engine **The company lends to groups of 6-10 women who co-guarantee each other, collects weekly or monthly at their doorstep, and earns the spread between its cost of borrowing and a lending yield of 23-26%.** - **Tiny loans, deliberately** - the main product, “Abhilasha / Chethana,” carries a ticket size of ₹25,000-₹80,000 at 21.3% interest, and the company caps its maximum loan at ₹80,000, which it calls one of the lowest ceilings in the industry. Average customer indebtedness is about ₹36,000, roughly 15-33% below the industry average, so borrowers are less stretched than they would be with competitors. - **Doorstep collection, now on a weekly beat** - the model was historically built on monthly collection in the first ten days of the month, but management has shifted to a weekly repayment rhythm so that new-member acquisition, disbursement and collection happen every day, making the field force scalable. As of March 2026, 349 of the 1,457 branches operate on the weekly model, and collection efficiency in those branches stays above 99%. - **New underwriting rules reset the book** - from April 2025, 80% of the portfolio has been sourced under stricter credit rules, and after eight months of seasoning that cohort shows 99.7% collection efficiency. The company also limits lender overlap: only 4.8% of customers have three or more lenders beyond Spandana, and 34% are exclusive to Spandana. - **A branch-only network with no middle layers** - there are no regional or zonal offices; 1,457 branches report straight to the corporate office in Hyderabad, and no single branch accounts for more than 0.3% of assets. The top five states-Madhya Pradesh, Bihar, Odisha, Andhra Pradesh and West Bengal-together make up 59% of the loan book, but even the largest district is capped at 2.3%. - **Funding from 47 lenders keeps the spread wide** - the company borrows from banks, NBFCs, development finance institutions and foreign portfolio investors, with a marginal cost of borrowing at 12% in early 2026 and a blended cost expected below 12.5%. That leaves a net interest margin of 9.9% on a portfolio yield of roughly 25%. # Group structure and partners **A listed parent with a microfinance licence, a small secured-lending subsidiary being merged back in, and a private-equity backer.** - Spandana Sphoorty Financial Ltd is the parent, registered with the RBI as a non-deposit-taking NBFC-MFI, and has not accepted any public deposits. - Criss Financial Ltd, in which Spandana holds 99.92%, is an NBFC-Investment and Credit Company that offers loans against property and nano-enterprise loans from its own 160 branches and 9,405 staff; a merger by absorption into Spandana was approved by the board in June 2026 and is expected to take another 5-6 months. - The company is a member of the two national microfinance industry bodies, MFIN and Sa-Dhan, which advocate with the regulator on behalf of the sector.

Documents — Spandana Sphoorty Financial Ltd

  • Q1 FY2027 Earnings Call Transcript (Jun 2026, PDF): https://www.stockscans.in/document/krl4fv3kz4mburpx9qujia5g.pdf
  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/f09mqvkg860uea8zq0c19zhc.pdf
  • Q3 FY2026 Earnings Call Transcript (Dec 2025, PDF): https://www.stockscans.in/document/h8picvzq8zf34izwmr6ze866.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/ixip3rui21gxsqh5qje77qt3.pdf
  • Q1 FY2026 Earnings Call Transcript (Jun 2025, PDF): https://www.stockscans.in/document/al3z0jiebijdg7ydur8pkx2x.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/dlwk1m7hzry2wshdo9sj629j.pdf
  • Q3 FY2025 Earnings Call Transcript (Dec 2024, PDF): https://www.stockscans.in/document/3hft1zwk0stlld4hzlkg15yk.pdf
  • Q2 FY2025 Earnings Call Transcript (Sep 2024, PDF): https://www.stockscans.in/document/8ja4m5b7usb74a90fc2fqplw.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/rg2jm0reup0bx5lydyp2q55y.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/wt2godl622j8nb5n8wtuhf0a.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/97nk9ouwinhuddjnd85l3m0x.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/v3cgkeb4f4cy6lu5se2tbtc9.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/swl8y639ty5133wl2qu0muc2.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/fao3qsnyw5nrsnugd8ri5pgd.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/irnsvso1pski8k8rki5w16ym.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/0raaic9jsq1tibwv6j6ymece.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/vbj0ytp8xhjzl8m3edn5o9v1.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/sdvd5k69r4aye8h7huydau8y.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/d1qdjpt5jmgcv4ehig4tbfdg.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/p2y9datzfkld4fsmi9k4n66z.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/hpgshi0sgdtcbye10wpk4h8g.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/d01vh50srj7oq9lrvntecoyw.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/3ieb0i0g4y09cpwsn3w830em.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/gpm8q3y0oaooti72stoupgu5.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/zxezsz1lesga51gwujd4cv4f.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/h1wem01qqqx49nnvmjhttcou.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/pm9zu35xud02ro3ahs3xtha1.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/n5h9bq6fxnx7jg9bty15b76l.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/9i38y0idorbvv3euw5gml27z.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/z8v2mo9nhb615jx1s9xpzdab.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/2lac5cqiweyyl6l032kuvoq4.pdf

Concall Transcript Summaries — Spandana Sphoorty Financial Ltd

  • Q1 FY2027 Concall Transcript Summary (Jun 2026): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202606/krl4fv3kz4mburpx9qujia5g.pdf
  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202603/f09mqvkg860uea8zq0c19zhc.pdf
  • Q3 FY2026 Concall Transcript Summary (Dec 2025): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202512/h8picvzq8zf34izwmr6ze866.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202509/ixip3rui21gxsqh5qje77qt3.pdf
  • Q1 FY2026 Concall Transcript Summary (Jun 2025): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202506/al3z0jiebijdg7ydur8pkx2x.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202503/dlwk1m7hzry2wshdo9sj629j.pdf
  • Q3 FY2025 Concall Transcript Summary (Dec 2024): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202412/3hft1zwk0stlld4hzlkg15yk.pdf
  • Q2 FY2025 Concall Transcript Summary (Sep 2024): https://www.stockscans.in/company/NSE%3ASPANDANA/transcript-notes/202409/8ja4m5b7usb74a90fc2fqplw.pdf

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