Finkurve Financial Services Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by CRISIL Ratings Limited and covers the utilization of proceeds from the company's preferential issue of equity shares and share warrants.

Issue Details and Revisions

The preferential issue was conducted between May 21 and May 27, 2025, originally targeting Rs. 157.11 crores. However, due to undersubscription caused by non-participation of some proposed allottees, the issue size was revised to Rs. 141.50 crores.

The revised issue proceeds comprise Rs. 101.50 crores from preferential issue of equity shares and Rs. 40.00 crores from preferential issue of warrants convertible into equity shares.

Proceeds Utilization Status

As of December 31, 2025, the company has utilized Rs. 111.50 crores from the total revised proceeds of Rs. 141.50 crores. The funds were deployed for onward lending, investments, and repayment of borrowings obtained in the ordinary course of business.

No additional utilization occurred during the reported quarter ended December 31, 2025.

Outstanding Warrant Subscriptions

The unutilized amount of Rs. 30.00 crores represents 75% of the warrant issue size that is yet to be received from warrant holders. During the initial quarter ended June 30, 2025, the company received Rs. 10.00 crores as subscription amount, representing 25% of the warrant issue size. According to the EGM notice dated January 08, 2025, warrant holders have the option to convert warrants into equity shares within 18 months from the allotment date.

Regulatory Compliance

The monitoring agency report confirms that all utilization has been in accordance with disclosures made in the offer document. No material deviations were observed, and no unfavorable events affecting the viability of the stated objects were reported. The company's audit committee reviewed the draft monitoring agency report, which was subsequently approved by the board of directors at their meeting held on February 06, 2026.

Company Background

Finkurve Financial Services Limited operates as a Non-Banking Financial Company (NBFC) with promoters including Mrs. Devkumari Manekchand Kothari, Mrs. Kalawati Prithviraj Kothari, Mr. Ketan B Kothari, and Mrs. Mohinidevi Bhanwarlal Kothari. The company's registered office is located at 202/A, 02nd Floor, Trade World, D-Wing, Kamala Mills Compound, S. B. Marg, Lower Parel West, Mumbai, Maharashtra.

Finkurve Financial Services Limited has made available the audio recording of its Q3 FY26 earnings call held on February 09, 2026. The company released the recording link following its comprehensive investor presentation that showcased strong operational performance and strategic positioning as a technology-enabled NBFC focused on gold-backed lending.

Performance Highlights for Q3 FY26

The company demonstrated robust growth across key operational metrics during the quarter. Assets Under Management reached ₹833.15 crore, marking a significant 119% year-on-year increase from ₹381.08 crore in Q3 FY25.

Financial Performance and Profitability

The company's financial results for Q3 FY26 showed continued growth momentum. Total income increased to ₹52.47 crore compared to ₹40.00 crore in Q3 FY25, representing a 31.19% year-on-year growth. Profit for the period reached ₹6.98 crore, up 23.86% from ₹5.64 crore in the corresponding quarter last year.

Earnings Call Recording Availability

Following the completion of the analyst and institutional investor meet on February 09, 2026, Finkurve Financial Services has provided access to the audio recording of the earnings call. The recording covers discussions on the company's financial performance for the quarter ended December 31, 2025.

Strategic Focus and Market Position

Finkurve Financial Services operates as part of the Augmont Group ecosystem, leveraging over 25 years of gold industry experience. The company has strategically shifted its focus to retail gold loans, which now constitute 93% of its loan book as of Q3 FY26, compared to 39% in FY23. The presentation highlights the company's pan-India presence with 98 branches across four states - Telangana (47 branches), Andhra Pradesh (33 branches), Karnataka (13 branches), and Tamil Nadu (5 branches).

Asset Quality and Risk Management

The company maintained strong asset quality metrics with Net NPA at 0.54% in Q3 FY26, improved from 1.84% in Q3 FY25. Collection efficiency remained robust at 94% for the quarter. The company's conservative approach is reflected in its LTV ratio of 65.8% and diversified funding mix comprising term loans (43.4%), NCDs (29.9%), and overdraft facilities (26.7%).