Fedbank Financial Services Limited has fulfilled its regulatory compliance obligations by submitting the mandatory confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made on April 8, 2026, to both the National Stock Exchange of India Limited and BSE Limited.

Regulatory Compliance Details

The certificate was issued by MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), which serves as the company's Registrar and Share Transfer Agent. The document covers the period from January 1, 2026 to March 31, 2026, representing the fourth quarter of fiscal year 2026.

Certificate Confirmation

The Registrar and Share Transfer Agent confirmed that securities received from depository participants for dematerialisation during the quarter were processed in accordance with prescribed timelines. The certificate ensures that all security certificates received for dematerialisation were properly verified, mutilated, and cancelled by the depository participant.

A significant aspect of this quarter's report is that MUFG Intime India confirmed no dematerialisation or rematerialisation requests were received and processed during the quarter ended March 31, 2026. This indicates minimal share transfer activity during the period.

Corporate Governance

The submission was authorized by Parthasarathy Iyengar, Company Secretary & Compliance Officer (Membership No.: A21472), who digitally signed the document on April 8, 2026. The certificate was simultaneously submitted to both stock exchanges where Fedbank Financial Services shares are listed.

This regulatory filing demonstrates Fedbank Financial Services' commitment to maintaining transparency and compliance with SEBI's depositories regulations, ensuring proper oversight of share dematerialisation processes and protecting investor interests.

Fedbank Financial Services has received rating reaffirmation from CRISIL for its debt instruments, with the credit rating agency maintaining its positive assessment of the non-banking financial company's creditworthiness. The reaffirmation comes with an enhancement in the commercial paper facility limit, reflecting the company's growing operational scale.

Rating Reaffirmation Details

CRISIL has reaffirmed its ratings across two key debt instruments of the company:

Notably, the commercial paper facility has been enhanced from Rs 2,000 crore to Rs 2,500 crore, indicating increased funding capacity for the company's operations.

Key Rating Strengths

Strong Parental Support

The rating continues to factor in robust support from parent Federal Bank Limited, which holds a 60.80% stake in the company as of December 31, 2025. Federal Bank's cumulative equity contribution towards Fedbank Financial Services stands at Rs 471 crore, demonstrating sustained financial commitment.

Comfortable Capitalisation

The company maintains strong capital adequacy ratios:

Business Portfolio and Performance

Asset Portfolio Composition

As of December 31, 2025, the company's Rs 17,500 crore AUM is diversified across multiple segments:

• Gold Loans: 45% of AUM
• Medium Ticket LAP: 31% of AUM (average ticket size ~Rs 60 lakhs)
• Affordable Mortgage: 21% of AUM (average ticket size ~Rs 13 lakhs)
• Unsecured Business Loans: 2% of AUM
• Others: 1% of AUM

Financial Performance

Rating Concerns and Outlook

Portfolio Seasoning Challenges

CRISIL highlighted moderate portfolio seasoning as a key concern, particularly in the affordable mortgage segment where GNPA increased from 2.10% to 5.30% as of December 31, 2025. This led to the company slowing disbursements and tightening underwriting norms in this segment.

Liquidity Position

The company maintains strong liquidity with Rs 213 crore in cash and cash equivalents and Rs 1,178 crore in liquid investments as of February 28, 2026. This provides adequate coverage against potential debt repayments of Rs 1,880 crore over the next two months through April 2026.

Strategic Focus

The company operates through 730 branches across 17 states and union territories. Management plans to expand the branch network for gold loans and increase co-lending business in LAP and gold loan portfolios. The company has also implemented process improvements including verticalised collections teams and linking sales incentives to collections performance.

CRISIL maintains a stable outlook, expecting Fedbank Financial Services to remain strategically important to Federal Bank while benefiting from continued parental support and comfortable capitalisation levels.