Savani Financials , now operating as Mantra Capital Limited, has reported robust growth in its Assets Under Management (AUM) for the second quarter of fiscal year 2026. The RBI-regulated Non-Banking Finance Company saw its AUM reach ₹66.00 crore, marking a significant increase from ₹43.00 crore in Q4 FY25.

Operational Expansion

The company has been actively expanding its operational footprint, now operating across 18 branches in four states:

• Karnataka
• Telangana
• Andhra Pradesh
• Delhi

This strategic expansion has been supported by a growing workforce, with Mantra Capital now employing 177 staff members, including 120 direct customer-facing personnel.

Loan Portfolio and Focus Areas

Mantra Capital has demonstrated strong performance in its lending activities:

• Disbursed over 1,500 loans
• Maintains a 100% secured loan portfolio
• Focus on two key areas:
  1. Secured business loans
  2. Secured green loans for 3-wheeler electric vehicles

Financial Highlights

The company has made significant strides in its financial position:

• Raised ₹47.00 crore in debt through Term Loan Non-Convertible Debentures
• Established strategic partnerships with key players in the automotive sector:
  • Mahindra
  • OSM (Omega Seiki Mobility)
  • Greaves

Strategic Partnership

In a notable development, Mantra Capital has secured its first co-lending partnership with AU Small Finance Bank for secured business loans. This collaboration is expected to enhance the company's lending capabilities and reach.

The company's focus on secured lending and its expansion into green loans for electric vehicles aligns with the growing emphasis on sustainable finance in India. The strategic partnerships with established automotive manufacturers suggest a strong positioning in the electric vehicle financing segment.

Mantra Capital's growth trajectory and strategic initiatives indicate a robust business model that is capitalizing on the increasing demand for non-banking financial services in India's tier 2 and tier 3 cities. The company's expansion across multiple states and its focus on secured lending could potentially lead to sustained growth and improved financial performance in the coming quarters.

As the company continues to expand its operations and loan book, investors and market watchers will likely keep a close eye on its asset quality and ability to maintain growth while managing risks in the competitive NBFC sector.

Savani Financials Limited (formerly known as Mantra Capital Limited) has reported a significant net loss and announced plans to raise funds through non-convertible debentures, according to the company's latest financial results and board meeting outcome.

Financial Performance

For the quarter ended September 30, Savani Financials reported:

The company's net loss widened compared to the previous quarter's loss of Rs 258.16 crore. Employee benefit expenses constituted the largest expense category for the company during this period.

Fundraising Plans

Savani Financials' Board of Directors has approved raising funds through the issuance of Non-Convertible Debentures (NCDs). Key details of the proposed NCD issue include:

• Maximum amount: Up to Rs 15 crore
• Issuance method: Private placement, public issue, qualified institutional placement, or other permissible methods
• Listing status: Not listed
• Tranches: To be issued in one or more tranches

The company stated that the tenure, coupon rate, and other specifics of the NCDs will be determined by the Board or a committee authorized by the Board at the time of issuance.

Company Operations

Savani Financials operates as a Non-Banking Financial Company (NBFC) registered under the Reserve Bank of India Act, 1934. The company's primary focus is on financial services, including loans, investments, and commission income.

Additional Disclosures

The company also reported that there has been no deviation in the use of proceeds from the objects stated in its Letter of Offer for the Rights Issue dated April 10, as per the statement filed under Regulation 32 of SEBI Listing Obligations and Disclosure Requirements.

Savani Financials' Board meeting, which approved these results and decisions, commenced at 10:30 A.M. and concluded at 4:30 P.M. on November 12.

As the company navigates through these financial challenges and fundraising initiatives, stakeholders will be closely watching how these strategies impact its future performance and market position in the NBFC sector.