Ugro Capital board to approve FY26 results April 20

Board meeting set for April 20, 2026

Ugro Capital Limited has informed investors that its Board of Directors will meet on April 20, 2026. The key item on the agenda is approval of the company’s audited financial results for the fiscal year ended March 31, 2026 (FY26). Alongside results, the board will also take up proposals related to fundraising. The company also plans to seek board approval to convene its 33rd Annual General Meeting (AGM). For shareholders, this meeting is expected to bring the first official, audited view of full-year FY26 performance.

What the board will consider

The company said the board will focus on approving audited full-year financial results for FY26. It will also consider proposals to raise funds through both debt and equity routes. Such discussions typically matter for an NBFC because funding decisions can influence growth capacity and balance sheet planning. Separately, the board will consider and approve the convening of the 33rd AGM. While the company has not disclosed the size or structure of any proposed FY26 fundraising in this intimation, the agenda signals that capital planning will be a core part of the meeting.

Latest disclosed quarterly snapshot: Q3 FY26

Ahead of the FY26 audited results, the latest quarter mentioned in the provided information is Q3 FY26. Ugro Capital reported consolidated net profit after tax (PAT) of INR 46.3 crore for Q3 FY26, a 23% year-on-year increase. Total income rose 32% year-on-year to INR 506.4 crore in the same quarter. The company also reported Assets Under Management (AUM) of INR 15,454 crore, up 40% year-on-year. These numbers provide context on the operating trajectory going into the full-year approval.

Earlier FY26 performance indicators: Q1 and Q2

For Q1 FY26 (quarter ended June 30, 2025), Ugro Capital disclosed AUM of INR 12,081 crore, up 31% year-on-year. Total income in Q1 FY26 was INR 421.8 crore, up 40% year-on-year, while PAT stood at INR 34.1 crore, up 12% year-on-year. It also reported GNPA/NNPA of 2.5%/1.7% on total AUM and a CRAR of 22.4%.

In an additional Q2 FY26 update included in the provided text, the company said its AUM was INR 12,226 crore, a 20% year-on-year increase. It also referenced NNC at 1.5% backed by a 47% provision coverage ratio, and stated its “CR” stood at 25.4%. The text also notes an equity raise of INR 535 crore in October 2025.

Key figures table

Business model context: DataTech NBFC focused on MSME lending

Ugro Capital describes itself as a DataTech Non-Banking Financial Company (NBFC) focused on MSME lending. In its Q1 FY26 communication, the company also highlighted growth engines including branch expansion in Emerging Markets and scale-up in Embedded Finance. It further disclosed that its off-book share was 42% as of June 30, 2025, supported by co-lending and direct assignment flows. Total debt as of June 30, 2025 was INR 7,586 crore, as per the same disclosure.

Fundraising and capital actions referenced in disclosures

The April 20 agenda to consider fundraising proposals sits alongside several earlier capital actions mentioned in the provided information. The company noted that it approved an equity raise of INR 1,332.66 crore in May 2024. In Q1 FY26 commentary, it said it strengthened its capital base through a mix of debt and equity issuances totaling INR 680 crore, and also referenced a public NCD issue in April 2025 of INR 200 crore (including a green shoe option). Separately, Ugro Capital also announced that its Investment and Borrowing Committee approved issuance of listed, rated, senior, secured and unsecured NCDs up to INR 500 crore via private placement, with a base issue of INR 200 crore and an option to retain INR 300 crore oversubscription.

Acquisition and co-lending changes flagged for FY26

The information also references an all-cash acquisition of Profectus Capital for INR 1,400 crore. In another disclosure, the company stated that shareholder approval had been received and that change-of-control and allied approvals were in process. On the operating environment, Ugro Capital reported a 24% decline in co-lending in Q1 FY26 due to seasonal moderation and stricter underwriting standards. It also noted that revised RBI co-lending guidelines are expected to improve scalability and competitiveness, though it anticipated a temporary disruption in operations starting January 2026.

Audit-related disclosure from FY25 annual report excerpt

An excerpt from the FY25 audit report included in the provided text highlights credit impairment as a key audit matter. It stated total loans as at March 31, 2025 were INR 7,919.11 crore (net of ECL) and impairment provision as at March 31, 2025 was INR 107.94 crore. The excerpt also stated the auditors did not come across any instances of material fraud by the company or on the company during the course of audit for the year ended March 31, 2025, while noting that instances of fraud were noticed and reported by management to the regulator (referenced as Note 66 in the financial statements).

Why April 20 matters for investors

For investors, the April 20, 2026 board meeting is the formal checkpoint for audited FY26 numbers and the company’s near-term capital planning. Audited full-year results can clarify profitability, asset growth, and risk trends that quarterly releases may not fully capture. The fundraising discussion is equally relevant, given the company’s prior use of equity issuance and debt instruments such as NCDs to support expansion. The AGM convening item also signals the start of the annual shareholder approval cycle that can include key resolutions.

What to watch next

Ugro Capital’s next disclosures are expected to follow the April 20 board meeting, covering audited FY26 financial results and any decisions on fundraising routes. Investors will also watch for details tied to the 33rd AGM notice, if approved. Separately, the company’s commentary around revised co-lending guidelines and the expected operational disruption starting January 2026 remains an important operational watchpoint referenced in its earlier disclosures.