Ugro Capital Q2 FY27 Results: Standalone Net Profit ₹37.37 Crore on Total Income of ₹496 Crore
- Earnings
- non-banking financial lending
Reviewed byKeshav SehgalBlacklitt Research
Ugro Capital (NSE: UGROCAP) reported standalone total income of ₹495.51 crore and net profit of ₹37.37 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. The board approved the results on the same day. The filing also reports changes to its Company Secretary and Head-Internal Audit.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹495.51 crore, up 7.4% YoY and 9.1% QoQ
- Net profit: ₹37.37 crore, down 13.7% YoY and 38.5% QoQ
- EPS: ₹2.45 basic, against ₹3.79 a year earlier and ₹3.97 in Q1 FY27
- Other income: ₹34.04 crore, against ₹5.78 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 495.51 | 461.18 | +7.4% | 453.98 | +9.1% | |
| Revenue from operations | 461.47 | 455.40 | +1.3% | 417.41 | +10.6% |
| Other income | 34.04 | 5.78 | +489.1% | 36.58 | -6.9% |
| 37.37 | 43.31 | -13.7% | 60.71 | -38.5% | |
| Profit before tax | 49.94 | 61.10 | -18.3% | 48.66 | +2.6% |
| Finance costs | 264.79 | 218.55 | +21.2% | 248.18 | +6.7% |
| Depreciation | 9.58 | 14.14 | -32.3% | 9.74 | -1.6% |
| Tax expense | 12.57 | 17.79 | -29.4% | -12.05 | n/a |
| Net profit margin | 7.54% | 9.39% | -1.85 pp | 13.37% | -5.83 pp |
| EPS, basic (₹) | 2.45 | 3.79 | -35.4% | 3.97 | -38.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Other income of ₹34.04 crore is 6.9% of total income this quarter, up from ₹5.78 crore a year earlier, while revenue from operations rose only 1.3%.
Finance costs of ₹264.79 crore are 53.4% of total income this quarter, up 21.2% from ₹218.55 crore a year earlier. Against that, profit before tax fell 18.3% to ₹49.94 crore.
Tax expense was ₹12.57 crore, or 25.2% of profit before tax, against ₹17.79 crore a year earlier. The filing does not explain the tax charge in this quarter, which follows a tax credit of ₹12.05 crore in the June 2026 quarter.
The filing notes that excess provisions of ₹18.02 crore were reversed to the profit and loss statement on sale of stressed loans to an ARC in the half year ended 30 Sep 2026. The company received aggregate consideration of ₹180.84 crore for those loans in the same half year. The statement itself does not separate that reversal by quarter, so its effect on this quarter is not known.
Inference
The filing states that the board approved the standalone results and that the statutory auditor, G.P. Kapadia & Co., issued a limited review report with an unmodified conclusion. The company is a non-deposit taking NBFC classified as NBFC-Middle Layer by RBI.
The filing reports an asset cover of 1.22 times for listed secured debt securities as on 30 Sep 2026. It also says the company undertook co-lending arrangements with four active partners as originating RE and two as partner RE in the half year.
The filing does not give the consolidated figures for the quarter, although the board letter says they were approved. Nor does it name the candidate to replace the Head-Internal Audit, who is still subject to board approval.
Filed with BSE on . Reference: Original filing (PDF)
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