Unifinz Capital India Limited has submitted additional documentation to BSE Limited regarding a recent management change, providing clarification on the resignation of its interim Chief Financial Officer.

Regulatory Compliance Update

The company responded to BSE's communication dated March 25, 2026, by submitting additional details required under SEBI circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. This submission relates to the company's earlier disclosure dated March 07, 2026, filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Change Details

Ms. Ritu Tomar resigned from her position as interim Chief Financial Officer (Key Managerial Personnel) of the company. Her resignation letter, dated March 06, 2026, stated that the resignation became effective from the closure of business hours on March 06, 2026, upon completion of her interim responsibilities.

In her resignation letter addressed to the Board of Directors, Ms. Tomar expressed gratitude for the guidance, support and cooperation received during her tenure as interim Chief Financial Officer.

Submission Clarification

The company explained that the resignation letter could not be attached at the time of the earlier disclosure due to an inadvertent technical/clerical oversight. The documentation has now been submitted to ensure complete regulatory compliance.

Future Compliance Commitment

Unifinz Capital India Limited confirmed that it is taking necessary steps to ensure strict compliance with applicable regulatory requirements in future. The submission was signed by Director Ritu Sharma (DIN: 07960832) on March 26, 2026.

Unifinz Capital India Limited has received a credit rating assignment from Crisil Ratings Limited for its non-convertible debentures worth Rs 170 crore. The rating agency assigned a 'Crisil BBB-/Stable' rating to the instruments, reflecting the company's adequate capital position and healthy earnings profile.

Rating Details and Rationale

Crisil Ratings assigned the BBB-/Stable rating to two tranches of non-convertible debentures:

The rating reflects the company's adequate capital position with networth of Rs 145 crore and gearing of 1.2 times as on December 31, 2025. The stable outlook indicates Crisil's expectation that Unifinz will maintain adequate capitalisation metrics, though asset quality performance and its impact on profitability will be demonstrated over time.

Business Operations and Performance

Unifinz, incorporated in 1982, commenced retail lending operations under the brand name 'Lendingplate' in March 2022. The company operates as a digital lender, offering unsecured personal loans primarily to salaried individuals pan-India. The loans typically range from Rs 5,000 to Rs 2.5 lakhs for tenures of 20 days to 12 months, with an average tenor of 2-3 months.

The company's financial performance showed significant improvement during the nine months ended December 2025:

Key Strengths and Challenges

The rating agency highlighted several strengths supporting the rating assignment. The company maintains adequate capitalisation metrics with equity infusion of approximately Rs 57 crore from shareholders since inception, of which Rs 54 crore was received in fiscal 2025. The healthy earnings profile is supported by the high-yielding nature of loans, with processing fees contributing a sizeable proportion of revenues at approximately 34.5% of total income as of December 31, 2025.

However, Crisil also identified key challenges that partially offset these strengths. The modest scale of operations remains a concern, with total disbursements of Rs 1,807 crore during the nine months ended December 2025 while AUM stood at Rs 376 crore as on December 31, 2025. The company faces asset quality vulnerabilities given the inherent risk profile of borrowers, with 90+ days past due adjusted for write-offs standing at 24.1% of AUM as on December 31, 2025.

Asset Quality and Risk Profile

The company's asset quality metrics reflect the challenges inherent in unsecured lending. As on December 31, 2025, 90+ days past due stood at 2.2% of AUM, compared to 1.3% as on March 31, 2025. When adjusted for the last 12 months write-offs, this figure increased to 24.1% of AUM. On a disbursement basis, 90+ days past due adjusted for write-offs improved to 4.4% as on December 31, 2025.

The borrower profile comprises customers with Bureau/CRIF scores of 500-699, with the salaried-to-self-employed ratio standing at 97:3 and repeat customer base at 80% as on December 31, 2025. The company follows an aggressive write-off policy, with bad loans generally provided at 90+ days past due for short-term personal loan products and 180+ days past due for EMI products.

Liquidity and Resource Profile

Crisil assessed the company's liquidity as adequate. As on December 31, 2025, Unifinz had approximately Rs 177 crore debt outstanding, with 80% in the form of term loans and 20% as inter-corporate deposits from shareholders. The company maintained unencumbered cash and cash equivalents of Rs 56.5 crore as on February 25, 2026, adequate to meet repayment obligations for over one month. Additionally, the company has an average monthly collection of around Rs 222 crore over the last six months, supporting its liquidity profile.