Shalibhadra Finance Limited has approved the issuance of non-convertible debentures (NCDs) worth up to ₹20 crore on a private placement basis. The Board of Directors sanctioned the move during its meeting held on September 17, 2026.

The instruments are structured as senior, secured, rated, listed, redeemable, and transferable debentures. The company intends to list these securities on the Bombay Stock Exchange (BSE). Specific details regarding the tenure, coupon rate, and security charges will be disclosed in the transaction documents and debenture trust deed.

Board Meeting Outcome

The board meeting commenced at 3:30 pm and concluded at 7:15 pm on Thursday, September 17, 2026. Vatsal Doshi, Managing Director, signed the disclosure. This outcome follows an earlier intimation issued on September 11, 2026, regarding the scheduled meeting.

Issue Details

The following table outlines the key parameters of the proposed issuance as per the regulatory filing:

Regulatory Disclosure

The company made this disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. No special rights or privileges are attached to the instrument beyond those set out in the debenture trust deed.

Shalibhadra Finance reported a 7.4% year-on-year rise in standalone net profit for the first quarter of FY27 (ended June 30, 2026). The Mumbai-based non-banking financial company (NBFC) posted a net profit of ₹4.91 crore, compared to ₹4.57 crore in the corresponding period last year.

Total revenue from operations grew 16.1% to ₹11.09 crore, up from ₹9.47 crore in Q1FY26. The growth was primarily driven by higher income from retail finance, which rose to ₹10.86 crore from ₹9.41 crore.

Financial Performance

The company’s profit before tax stood at ₹6.41 crore, down slightly from ₹7.04 crore in the previous quarter but up from ₹5.92 crore a year ago. Tax expenses were recorded at ₹1.50 crore.

What the Numbers Show

While revenue growth outpaced profit growth, total expenses expanded at a faster rate (31.8% YoY) than top-line revenue (16.1% YoY). This divergence indicates margin pressure during the quarter. Specifically, administrative and other expenses rose to ₹1.48 crore from ₹1.01 crore in the preceding quarter, contributing significantly to the overall expense increase despite stable employee benefit costs.

Balance Sheet and Regulatory Disclosures

Shalibhadra Finance disclosed its financial ratios for the quarter under SEBI Listing Regulations. The debt-equity ratio increased to 0.34 from 0.22 in Q1FY26. The interest service coverage ratio declined to 4.27 from 6.99 a year earlier, while the debt service coverage ratio stood at 0.64.

The company also submitted an additional disclosure to rectify an inadvertent omission in its earlier filing regarding the "Bad Debts to Accounts Receivable Ratio" for the quarter ended June 30, 2026. The ratio was reported at 0.20%. Additionally, the firm confirmed that proceeds from a ₹19.50 crore private placement of Non-Convertible Debentures (NCDs) raised in April 2026 have been fully utilized as per the stated objects, with no deviations.

The unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors on August 12, 2026. Vora & Associates served as the independent auditors for the review.