Category Archives: Business

Firodia Family Marks Milestone with Launch of Fetal Medicine Center at Deenanath Mangeshkar Hospital

Pune, January 28, 2025: The prestigious Deenanath Mangeshkar Hospital in Pune unveiled the Dr. Jayshree Arun Firodia Center for Fetal Medicine, marking a significant milestone in advancing fetal healthcare. The state-of-the-art centre is named in honour of Dr. Jayshree Arun Firodia, a distinguished paediatrician and a beacon of excellence in healthcare. This initiative has been made possible through the generous support of the Firodia family, including Dr. Arun Firodia, a Padma Shri awardee and renowned industrialist, and their son, Ajinkya Firodia, Vice Chairman and Managing Director of Kinetic Engineering Limited.

Deenanath Mangeshkar Hospital has long been a leader in fetal medicine, offering a wide range of services such as advanced maternity care, fetal diagnostics, clinical genetics, and neonatal intensive care. The new centre enhances these offerings with cutting-edge medical technology and expert care, ensuring comprehensive support for expecting mothers and their families.

Speaking at the inauguration, Ajinkya Firodia, Vice Chairman and MD of Kinetic Engineering said, “This centre is a reflection of my parents’ unwavering commitment to improving healthcare access and quality. The upgraded facility will play a crucial role in providing world-class fetal medicine services under one roof, greatly benefiting mothers-to-be and their families.”

Dr. Jayshree Arun Firodia’s immense contributions to pediatric healthcare were commemorated during the event where she was awarded the “Distinguished Services in Pediatrics Award” by Deenanath Mangeshkar Hospital.

The event was graced by eminent personalities from the medical fraternity, including Dr. Dhananjay Kelkar, Medical Director of Deenanath Mangeshkar Hospital, and leading fetal medicine specialist Dr. S. Suresh. An educational seminar on advancements in fetal medicine followed the inauguration, attracting over 80 gynaecologists and medical professionals.

Adani Wilmar Q3 FY25 Results: Record Revenues and Profit Growth Amid Market Challenges

Ahmedabad, 28th January, 2025: Best-ever trailing-twelve-months (TTM) performance with operating EBITDA at INR 2,390 crores and PAT at INR 1,192 crores on TTM basis.

Highest-ever revenue of INR 16,859 crores in Q3, up by 31% YoY, with underlying volume growth of 5% YoY

Highest-ever quarterly operating EBITDA of INR 792 crores in Q3 ’25, up by 57% YoY

Highest-ever quarterly PAT of INR 411 crores in Q3’25, up by 105% YoY

Food & FMCG recorded revenue growth of 22% YoY in Q3, with an underlying volume growth of 23% YoY. TTM revenue at INR 6,150 crores.

The Company achieved a healthy volume growth of 5% YoY in Q3 FY’25, despite significant price-hikes driven by a surge in raw material costs.

The Company recorded revenue of INR 16,859 crores in Q3’25, which is a growth of 31% YoY with an underlying volume growth of 5% YoY. Edible oils and Food & FMCG segments delivered strong double-digit revenue growth of 38% YoY and 22% YoY respectively. The Company has been delivering strong profits over the last five quarters. For Q3’25, operating EBITDA was at INR 792 crores and a PAT of INR 411 crores. The Company has been expanding its distribution network to access more towns, reaching over 43K rural towns directly by the end of December 2024. This marks a substantial progress from just over 5,000 towns in March 2022. The goal is to reach over 50,000 rural towns by the end of FY’25 and drive the penetration of outlets as well as volume offtake in these new outlets.

The integrated distribution model is enabling us to leverage the strength of our oil distribution network to boost the reach of our food products, particularly in urban markets. This has been accomplished through a range of initiatives, such as loyalty programs for retailers, bundling offers for both retailers and consumers, targeting high-potential outlets, and refining salesman incentives.

In Q3, revenue from alternate channels increased at a strong double-digit rate YoY, with revenue over the past 12 months at around ₹3,300 crores. The e-commerce (including quick commerce) sales volume continued to grow rapidly at 41% YoY. The Company enhanced its capabilities in leveraging data and data visualization for better decisionmaking, resulting in improved fulfillment rates and more efficient ad spends. This also Press Release – Q3 FY25 adani wilmar forahutthygrowingnatlon fortune provided better visibility of competitors’ pricing, allowing us to price our products more effectively. By leveraging strong sell-through rates, we have proactively expanded our product assortment in this channel across all markets. This channel is also facilitating the rapid growth of value-added products such as Fortune Pehli Dhaar Mustard Oil, Fortune Xpert, Sharbati Atta, Poha and Biryani Kit.

The HORECA channel grew at a volume growth rate exceeding 35% for YTD FY’25, generating over INR 600 crores in revenue on a Last Twelve Months (LTM) basis, with a well-balanced contribution from both edible oils and foods. Furthermore, the company is developing a network of HORECA wholesalers to meet the demand from smaller customers.

The company has launched a year-long celebration for the 25th anniversary of the ‘Fortune’ brand, with digital storytelling and consumer campaigns, aimed at strengthening consumer trust in the brand. We have done one-of-its-kind activation at Ayodhya, where MyFM radio collected over 6-lakh diyas (lamp) from people, which were lit during Diwali festival using our Fortune Kachi Ghani Mustard Oil, fostering greater engagement with our brand.

The company was awarded the ‘SKOCH Award’ for its digital transformation in the supply chain, specifically for its ‘Integrated Logistics Management System’.

ESG Update

Fortune SuPoshan, AWL’s flagship CSR initiative, has been honored with the prestigious Indian CSR Awards 2024 in the category of ‘Best Rural Children Healthcare Initiative of the Year – 2024.’ AWL’s Mundra and Hazira Plants received a Gold Medal and Silver Medal, respectively, at the 10th edition of the India Green Manufacturing Challenge (IGMC), organized by the International Research Institute for Manufacturing (IRIM). Additionally, our Vidisha factory earned the Safety Award at the Global Safety Summit 2024, demonstrating AWL’s dedication to maintaining high safety standards across its manufacturing facilities.

Edible Oils

In Q3, our edible oil volume grew by 4% YoY and recorded revenue of INR 13,387, up by 38% YoY. Branded sales declined in low single digits, primarily due to double-digit decline in packed palm oil sales and downtrading by consumers. Branded sales increased across all other edible oils. To strengthen consumer connections, we introduced special packs of soybean oil in Bihar to celebrate Chhath Puja, an important festival in the region. AWL won two awards from Mad Over Marketing – winner of ‘Best Regional Campaign’ for its ‘Ilish Campaign’ in West Bengal and Runners up for ‘Best OOH for an Occasion.’

Food & FMCG

The Food & FMCG segment recorded revenue of INR 1,558 crores in Q3, up by 22% YoY. The segment continued to experience double-digit growth in both General Trade and E-commerce channels. Bundling our low-penetration products with fast-selling items continued to drive consumer trials and adoption. On LTM basis, the segment recorded revenue of ~INR 6,150 crores.

In wheat flour, we outpaced industry growth and gained market share during the current financial year. The introduction of small pack sizes (up to 2-KG) continued to play a key role in driving strong growth in the South and West regions.

In rice, the Company is working on its supply chain to improve product availability in the market. The Kohinoor brand also launched a video series on social media, featuring renowned food critic and historian, Padma Shri Dr. Pushpesh Pant, narrating the stories behind various recipes made with Basmati rice.

Industry Essentials

In Q3, the Industry Essentials segment’s revenue increased by 4% YoY to INR 1,915 crores. The lower sale in castor meals and oil meal led to a decline in the segment’s volume during the quarter.

Commenting on the results, Mr. Angshu Mallick, MD & CEO, Adani Wilmar Limited said:

“The Company’s revenue grew by 31% YoY to INR 16,859 crores. We have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments. The edible oils revenue grew by 38% YoY and the Food & FMCG revenue grew by 22% YoY.

The Company has been delivering strong profits over the last five quarters. We have delivered record profits during the quarter, with EBTIDA at INR 792 crores and PAT at INR 411 crores. This has led to best-ever trailing-twelve-months (TTM) performance with operating EBITDA at INR 2,390 crores and PAT at INR 1,192 crores on TTM basis. Our overall Food & FMCG business has crossed INR 6,150 crores on TTM basis and we stay committed to building a very large packaged food business in India. The Company has been becoming stronger and more diversified. Most of our strategies have been yielding positive results. Our edible oils have gained market share in underindexed markets and under-indexed categories like Sunflower oil and Mustard Oil. In wheat flour, we outpaced industry growth during the year.

Additionally, the company has significantly expanded its direct rural coverage crossing 43,000 rural towns as of December ’24, up from 5,000 towns in March 2022, positioning us well for future growth. E-commerce revenue has grown by 41% YoY on TTM basis. The company has made strong inroads in the South, with a 15% YoY volume growth in branded products during Q3. Additionally, the ‘Fortune’ brand is celebrating its 25th anniversary with a year-long series of consumer campaigns to mark this significant milestone.”

L&T Named Preferred EPC Contractor for 24/7 Solar-Battery Gigascale Project

Chandigarh, January 28, 2025: The renewables business vertical of L&T has been selected by Masdar, as one of the preferred Engineering, Procurement, and Construction (EPC) contractors for the north site of the world’s first 24/7 solar PV and battery storage Giga scale project which will be built in Abu Dhabi.

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, in collaboration with EWEC (Emirates Water and Electricity Company), announced at Abu Dhabi Sustainability Week (ADSW) that it is developing the Giga scale project, capable of delivering up to 1 gigawatt (GW) of baseload power 24 hours a day, seven days a week.

The project will feature a 5.2GW (DC) solar photovoltaic (PV) plant and both coupled with a 19 gigawatt-hour (GWh) BESS, making it the largest solar and BESS project in the world. The project will constitute a north site and a south site, amounting to 2.6GW and 9.5GWh PV capacity each.

The ceremony took place at Abu Dhabi Sustainability Week in the presence of His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar. The Letter of Award was signed by Mr. Abdulaziz Alobaidli, Chief Operating Officer, Masdar, and Mr. A Ravindran, Senior Vice President & Head – Renewables IC, L&T in the presence of Mr. T Madhava Das, Whole-Time Director & Sr. Executive Vice President (Utilities), L&T.

Mr S N Subrahmanyan, Chairman & Managing Director – Larsen & Toubro, said: “The foresightedness coupled with definitive actions reflect UAE’s leadership role in accelerating sustainable economic progress. L&T is determined to bring in advanced capabilities for the global energy transition.”

Mr T Madhava Das, Whole-time Director & Sr Executive Vice President (Utilities) – Larsen & Toubro, said: “We are happy that our trusted partnership with Masdar has culminated in such a coveted opportunity to advance the deployment of clean energy projects in the region. With our all-round capabilities in dispatchable renewable generation, power T&D and digital solutions we are deeply committed to deliver this ultra-mega project that fuels futuristic ambitions”.

Samvaad by Tata Steel Foundation Showcases Tribal Art at Kala Ghoda Festival

Chandigarh, January 28, 2025: Samvaad, one of the largest tribal conclaves in India, by Tata Steel Foundation returns to the Kala Ghoda Arts Festival (KGAF) for its second year. It is set to bring a vibrant tapestry of tribal art and culture to the 25th edition of one of the most iconic arts festivals of Mumbai, taking place from January 25 to February 2, 2025.

As part of the Samvaad X Kala Ghoda collaboration, four tribal artisans from Jharkhand and Odisha have created 25 artworks for a special installation. These artworks celebrate the 25-year legacy of the Kala Ghoda Arts Festival and represent five diverse tribal art forms: Sohrai, Paitkar, Saura, Juang, and Gond. The artists, Nandini Singh, Lakhimoni Sardar, Dinabandhu Soren, and Dhirendra, are entrepreneurs at self-help groups based out of the two states. Their creations not only pay homage to the esteemed festival but also share the rich stories and traditions of tribal art and culture.

Sourav Roy, CEO, of Tata Steel Foundation, said: “Samvaad’s collaboration with Kala Ghoda Arts Festival is a testament to our commitment to bringing the unique and diverse expressions of tribal art and culture to a wider audience. Building on the success of last year’s partnership, we are thrilled to continue this journey and introduce the captivating stories and rich traditions of tribal art to the urban landscape. We welcome you to be a part of this journey and witness the diverse tales of Samvaad.”

Tribal Artisans Showcase Their Crafts:

Throughout the nine days of the festival, Samvaad will host two stalls every three days, featuring the works of 12 artisans from various tribes and states across India. These stalls will offer a unique glimpse into their traditions and showcase their intricate handicrafts and artforms, emphasising the importance of natural elements and sustainable practices.

• Suluk Kumba (Santhal Tribe, West Bengal): This stall, meaning “beautiful family,” will showcase intricate Santhal handicrafts woven from date leaves and fibers, highlighting their traditional use of natural materials.
• Bamon Handicrafts (Jaintia Tribe, Meghalaya): Featuring a range of cane and bamboo products, this stall will offer handmade daily use items and decorative pieces like baskets, mats, runners, and wall hangings.
• Srujanika Co-operative Society (Gopalpur): This self-help group will present Saura art on bamboo silk, canvas, frames, clocks, and magnets.
• Pragati Udyog Mahila Samiti (Potka, Jharkhand): This women-led self-help group will showcase their creations, including woodwork, handmade cloth bags, magnets, Sohrai art frames, and other decorative items.
• Ontor (Santhal Tribe, Bengal): This stall will feature authentic Sohrai art, including cushion covers, candles, and wall décor.
• Bodo Weaves (Bodo Tribe, Assam): Offering a diverse range of woven fabrics, this stall will showcase shawls, sarees, mats, carpets, and other textile products.

Panel Discussion on the Future:

A key highlight of this year’s edition will be a panel discussion at David Sassoon Library on January 31, 2025, featuring individuals who deeply understand the earth and its challenges. Panelists, including Tsewang Nurboo (Boto Tribe, Ladakh), Mijing Nazary (Bodo Tribe, Assam), and Kiran Khalkho (Oraon Tribe, Jharkhand), will share their insights and perspectives, moderated by Sourav Roy, CEO of Tata Steel Foundation.

Greko India Partners with Mikel Coffee for Indian Debut

New Delhi, January 28, 2025: Greko India today announced that it is all set to bring Mikel Coffee, one of the world’s fastest-growing coffee chains, to India through a partnership that will see the first store being launched in Delhi-NCR.

Greko India is the exclusive master franchise partner for Mikel Coffee in India. It offers a comprehensive gateway to Europe through the Greece Golden Visa program. The company aims to strengthen partnerships between India and Greece through economic partnerships and cultural exchanges.

Mikel Coffee, which is headquartered in the Greek city of Larissa, has created a strong wave in five continents, across 19 countries with 375 stores in its network. This expansion in India will be Mikel Coffee’s first footprint in South Asia.

Known for its rich aroma, distinct flavors, and exquisite experiences, Mikel Coffee was started in 2008 in Larissa, Greece by its Founder and CEO, Eleftherios Kyriakakis. It is celebrated across the world for its artisanal brewing techniques and will now offer Indians a slice of authentic Greek coffee culture.

Commenting on the entry of Mikel Coffee in India, Founder & CEO of Greko India, Gaurav Wadhera said, “We are extremely thrilled to announce that one of the world’s most loved coffee chains, Mikel Coffee, is coming to India. Despite being a tea-loving country, India’s coffee market has been growing exponentially. As per industry estimates it is expected to touch $1.2 billion growing at a CAGR of 9.8%.Since 2008, Mikel Coffee has made a strong reputation worldwide by setting new benchmarks for cafe culture. We are committed towards unlocking exceptional value for Mikel Coffee in India.”

Speaking on the partnership, Eleftherios Kyriakakis said, “We are excited to be finally in one of the fastest growing economies in the world. Our presence in India offers us immense possibilities as the coffee market is expanding fast. The Indian market has evolved over the last few years with a growing appreciation and taste for an artisanal brewing experience. Our partnership with Greko India in bringing Mikel Coffee is a testament to our commitment of offering the finest in rich Greek heritage to Indian consumers.”

After launching the first outlet in Delhi NCR with a concept of a cafe-restaurant,Mikel India has an aggressive expansion plan. The brand is keen on making inroads in key markets like Delhi, Mumbai, Hyderabad, Kolkata, Pune, Chennai and Bengaluru in coming years. Each outlet will offer coffee aficionados Mikel Coffee’s distinctive aesthetics and warm, welcoming ambience. The partnership also underlines Greko India and Mikel Coffee’s commitment to sustainability and community development.

Union Budget 2025: Enhancing Digital Payments and Financial Inclusion

Rahul Jain – CFO, NTT DATA Payment Services India

The Union Budget 2025 should allocate more funds to incentivize the use of low-value BHIM UPI-based payments and Rupay debit cards. Bank and payment service providers and NPCI typically incur a cost of nearly 0.25% of the transaction value for processing a UPI P2M transaction. As UPI continues to rise exponentially, the payment ecosystem needs to invest in emerging technologies such as Artificial Intelligence (AI), face recognition payments, and blockchain. These technologies will make the digital infrastructure more robust, ensuring the safety of digital payments. To address the rising concerns of digital fraud, it is essential to create stringent mechanisms to mitigate these risks. Strong government support for the digital payment ecosystem, along with streamlined policies, can foster financial inclusion, innovation, and growth in the fintech sector. Additionally, targeted initiatives for employment generation and skill development will further bolster this growth. By focusing on these areas, the Union Budget 2025 can play a pivotal role in enhancing the digital payment landscape and ensuring a secure, inclusive, and innovative financial ecosystem.

Nu Republic Launches ‘Girl Pwr’ Wireless Earbuds for Women on Swiggy Instamart

National, 28 Jan 2025: Nu Republic introduces the “Girl Pwr” product line – a vibrant line-up of colorful, stylish TWS earbuds and super slim power banks, designed for women who demand more than just functionality. These aren’t your standard black tech accessories—they’re bold, beautiful, and made to complement your vibe, not cramp it.

The GRL PWR Collection is all about blending fashion and function. It’s tech you’ll want to show off, not tuck away. From dynamic colors to sleek designs, these earbuds are meant to be worn like your favorite accessory, making a statement wherever you go.

The GRL PWR Collection from Nu Republic® features the crowd-favorite Epic X3 True Wireless Earbuds in bold, eye-catching Hot Pink and Teal Green, adding a splash of personality to your daily tech. Complementing the earbuds is the sleek Powerpop X1 5000mAh power bank, also available in matching shades of Pink and Teal Green—perfect for tech that’s as stylish as it is functional.

Customers can choose between standalone products or opt for the specially curated gift pack, an ideal choice for celebrating the women in your life who value individuality and style.

Speaking about the launch, Ujjwal Sarin, Founder of Nu Republic®, said: “We want women to ditch the boring blacks, grays, and whites, and embrace colors that let them stand out and express their unique style with confidence.”

Shibani Akhtar, the brand ambassador for Nu Republic®’s GRL PWR campaign, shared her excitement:”I’m absolutely thrilled to be the face of Nu Republic®’s GRL PWR Series. This initiative feels deeply personal to me because it’s about more than just products—it’s about encouraging women to own their space, unapologetically. I’ve always believed that confidence and self-expression are two of the most powerful tools we have as women, and the GRL PWR series embodies that perfectly. From the bold colors to the innovative features, it’s a reminder that we should never shy away from standing out. I’m excited to be part of a campaign that celebrates individuality and empowers every woman to embrace her own unique power.”

In an exciting collaboration, Nu Republic® has launched the GRL PWR series on Swiggy Instamart, allowing consumers to access this innovative and stylish collection in just 10 minutes. This partnership delivers cutting-edge lifestyle tech directly to customers’ doorsteps with unmatched convenience.

Speaking on the launch, Hari Kumar G, Chief Business Officer, Swiggy Instamart, said, “At Swiggy Instamart, we are committed to offering our customers unique and exciting products, and the GRL PWR series by Nu Republic aligns perfectly with this vision. Gadgets are no longer just functional; they have become an extension of personal style. The GRL PWR series breaks away from traditional monotone designs, introducing a vibrant range of colorful, fashionable tech that embodies personality and confidence. This partnership merges bold design with everyday utility, catering to the large demographic of women users on Swiggy Instamart. We’re thrilled to offer these one-of-a-kind products, bringing style and convenience together in one place.”

DCB Bank announces Q3FY25 results, reports PAT of 151 Cr

January 27, 2025, Mumbai: The Board of Directors of DCB Bank Ltd. at its meeting in Mumbai on January 24, 2025, approved the unaudited financial results for the quarter ended December 31, 2024 (Q3 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.

Highlights:

1) The Bank’s Profit After Tax (PAT) for Q3 FY 2025 was at INR 151 Cr. In comparison Profit After Tax for Q3 FY 2024 was at INR 127 Cr., growth of 20%.
2) Advances growth year-on-year was at 23% and Deposits growth year-on-year was at 20%.
3) The Gross NPA as on December 31, 2024 was at 3.11%. Net NPA was at 1.18% as on December 31, 2024.
The Provision Coverage Ratio (PCR) as on December 31, 2024 was at 74.76% and PCR without considering Gold Loans NPAs was at 75.56%.
4) Capital Adequacy continues to be strong and as on December 31, 2024, the Capital Adequacy Ratio was at 16.29% (with Tier I at 13.54% and Tier II at 2.75% as per Basel III norms).

 Speaking on the Q3 FY 2025 results Mr. Praveen Kutty, Managing Director & CEO said, “We are happy to see the consistency of growth momentum both on advances and deposits. NIM has shown an uptick and fee momentum remains robust. While there are headwinds in the microfinance and unsecured space, we are able to improve the overall asset quality. The focus on productivity is improving the cost income ratio. We expect these positive trends to continue in the times ahead”.

TCS Kolkata Wins Standard Chartered Cup 2024

28 January 2025, Mumbai: The final leg of the Standard Chartered Cup 2024, India Edition, successfully concluded in Mumbai with Tata Consultancy Services, Kolkata, team emerging victorious. The 5-a-side, 10-minute corporate football tournament witnessed football action with 7 winning teams from seven cities competing for the coveted trophy and prize.

In the end, Tata Consultancy Services, Kolkata, team defeated Tata Consultancy Services, Hyderabad, team (4 – 0) to emerge as the winner of the India edition of Standard Chartered Cup 2024.

The finale event was graced by Liverpool Football Club legend, Steve McManaman, along with senior officials from Standard Chartered Bank, India.

The winning team will visit Anfield, the iconic home of Liverpool Football Club to witness the Reds in action and have the privilege of soaking in the electrifying atmosphere of a live English Premier League match. They will also get an exclusive stadium tour, including a behind-the-scenes entry to the Dressing Room of the Home Team and the iconic Player’s Tunnel.

Speaking at the occasion Nitin Chengappa, MD, Head Affluent Distribution & Branch Banking, Standard Chartered Bank, India, said, “SC Cup 2024 gave us unforgettable moments to cherish with some great games coupled with fierce competition and team spirit. The tournament is in line with what the Bank, which has been present in India for over 165 years, aspires to achieve – continuously communicating with clients across the world based on our brand promise of ‘Here for good.’ Huge congratulations to the winning team on their outstanding achievement and we extend our appreciation to all participating teams for showcasing remarkable sportsmanship and dedication throughout the tournament.”

Liverpool Football Club legend, Steve McManaman said, “I would like to congratulate the winning team. It’s been a fascinating experience to soak in the sights and sounds of Mumbai and interact with football enthusiasts. I would like to thank Standard Chartered Bank for giving me the opportunity to visit Mumbai and engage with the employees and the participating teams.”

Standard Chartered’s partnership with Liverpool FC started in 2010 and it is one of the longest associations in the Premier League. The Bank is the second longest running Front of Shirt sponsor in the Premier League. In India, football has a sizeable following, particularly for marque clubs like Liverpool FC. Among Standard Chartered Bank’s top 7 markets, India is ranked one among the Liverpool FC internet connected followers and for the social and digital followers.

UGRO Capital Posts Record Q3FY25 Loan Origination of Rs 2,098 Cr, AUM Up 32 percent YoY to Rs11,067 Cr

Mumbai, January 28, 2025: UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced its robust financial performance for the Quarter and Nine-month Period ended 31st December 2024. The company recorded its highest-ever quarterly loan origination of INR 2,098 crore, surpassing INR 1,552 crore in the same quarter last year. Its Emerging Markets Secured Loans (erstwhile Micro Enterprises business) experienced significant growth, with disbursements at INR 543 Cr in Q3’FY25, up from INR 180 crore in Q3’FY24, underscoring UGRO Capital’s commitment to empowering small businesses.

UGRO Capital sustained its growth momentum in Q3’FY25, achieving an AUM of INR 11,067 crore as of Q3’FY25 representing 32% increase compared to Q2’FY24. This surge can be attributed to increasing net loan origination, the opening of 74 new branches in the Emerging Market Segment in 9MFY25, achieving the highest-ever disbursement, Embedded Finance growth, and a data-driven underwriting model that together enable consistent quarterly disbursals of over INR 1,000 Cr.

In terms of financial performance, UGRO Capital reported a total income of INR 1,030 crore for the nine months (9M’FY25), reflecting a 37% YoY growth. For Q3’FY25, total income stood at INR 385 crore, marking a growth of 38% YoY and 12% QoQ. The PAT for 9M’FY25 scaled up to INR 103 crore, up 19% YoY, while Q3’FY25 PAT was INR 37 crore, reflecting an impressive 15% YoY and 6% QoQ increase. The company achieved net disbursements of INR 5,215 crore in 9M’FY25, reflecting 21% growth, with Q3’FY25 net disbursements reaching INR 2,098 crore, up 6% QoQ.

On the liability side, UGRO Capital mobilized its highest-ever debt of INR 1,400+ crore during Q3’FY25, bringing its total debt to INR 6,151 crore as of December 2024. The robust quarterly performance, coupled with optimal GNPA/NNPA metrics of 2.1%/1.5%, highlights the quality of UGRO’s portfolio and reflects a well-structured risk management framework. UGRO Capital’s distinctive co-lending approach, accounts for 44% of its off-book AUM, and its strategic partnership with 16 Co-lending partners, 59 lenders, over 60 fintechs, and 730+ GRO partners, facilitates data-driven, tailored financial solutions for more than 1.6 Lakh MSMEs across India.

Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Our strong growth trajectory demonstrates the resilience of our business model and our unwavering focus on serving the MSME sector. The GRO Score patent exemplifies our commitment to innovation, and our growing branch network ensures deeper penetration into underserved markets. We aim to scale our micro-enterprise portfolio to ~35% of AUM by March 2026, driving yield expansion and fostering financial inclusion. As we move forward, we are confident in achieving our strategic goals while continuing to empower MSMEs across the country.”