Unifinz Capital : Impressive Financial Run Continues, Reports Robust H1FY25 Results
New Delhi, India –November 04, 2024 – Unifinz Capital India Limited (formerly Shree Worstex Limited) continued with its impressive financial performance and posted an operating revenue of ₹38.7 crores with a profit (after tax) of ₹6.5 crores in the first half (H1) of FY24-25, fuelled by a strong disbursal growth and an increasing appetite for small-ticket loans among customers. This represents 2X revenue growth from the corresponding period of the previous year and the NBFC expects to achieve an annual revenue run-rate of ₹100 crores in this fiscal compared to ₹29.8 crores in the previous year.
The lendingtech startup, operating as lendingplate, disbursed loans worth ₹152 crores in the first half against a planned disbursal of ₹500 crores for the full year. In the second quarter alone, lendingplate has disbursed ₹97 crores exceeding the total annual disbursal of the previous year and in the ensuing third quarter, the NBFC expects to exceed the total disbursal of the first half of this financial year. In tandem with growth, the company has more than doubled its manpower, effectively doubling costs in the reporting quarter compared to the same period last year. Despite this increase, it has successfully reduced its operational ratio to 38% of revenues in Q2 FY25, down from 72% a year ago, driven largely by the rapid digitization of its lending stack These milestones underscore the company’s strong growth trajectory and its ability to scale efficiently in a competitive market.
lendingplate primarily caters to individuals who are overlooked by traditional Banks and a significant portion of its loan portfolio comprises borrowers with thin credit or low credit scores. For this cash loan firm, the bad debts (NPAs) and their provisions formed 39% of its overall cost in H1 FY25 prompted by the write-off of loans beyond 180 days past due effective Q2 FY25. The company has written off bad debts worth ₹6.9 crores out of the total provisions of ₹7.59 crores in Q2 FY25.
Unifinz Capital came out with preferential issues of ₹32 crores during the first half and has raised debt to the tune of ₹33 crores so far. With a gearing of 1.57, there is enough room for the NBFC to bring in more debt to fund the growth in the present fiscal year.
Kaushik Chatterjee, founder and CEO of Unifinz Capital, commented, “The first half of FY25 has been pivotal for lendingplate, as we have not only surpassed last year’s business but also recouped the losses from the last two years of development phase. We can now lay our entire focus on momentum and sustainable growth. In the next three years, we wish to scale everything that we’ve built – seamless experience, faster disbursals, more geographies, competitive pricing and more choices for our customers.”
About lendingplate: lendingplate, a brand under Unifinz Capital India Limited, is a digital lending NBFC offering unsecured personal loans of up to ₹2,50,000 with flexible repayment terms of up to 15 months. Registered with the Reserve Bank of India, lendingplate offers quick, hassle-free loans, disbursed within 30 minutes, and caters to customers across 17 states and 5000+ pin codes. With a focus on technology and customer-centric solutions, lendingplate is reshaping the digital lending space in India.
