i: UGRO Capital Limited, a DataTech NBFC focused on MSME lending, recently announced the launch of its all-new business loan “PRAGATI” for women entrepreneurs. Simplifying loan processes and offering 50% discount on processing fees for loans disbursed  until March 31, 2024, the initiative aims to facilitate nationwide by 2025 over 50,000 women’s access to credit and foster their entrepreneurial drive

UGRO Capital Launches “PRAGATI” loan for women entrepreneurs

U GRO Capital, a leading DataTech NBFC focused on MSME lending marks a milestone as CRISIL Ratings upgraded its long-term rating on bank loans and non-convertible debentures to 'CRISIL A/Stable' from 'CRISIL A-/Positive', affirming the short-term rating at 'CRISIL A1'.The upgrade underscores U GRO's ability to enhance its franchise business, driven by robust business prospects and an extensive operating network.

CRISIL Ratings upgrades U GRO Capital Limited's rating to CRISIL A Stable from CRISIL A- Positive

UGRO Capital Limited, the DataTech NBFC focused on MSME lending, has acquired Profectus Capital Private Limited, for ₹1400 crore. This all-cash deal, with the consideration payable in a single tranche at closing, will make Profectus a wholly owned subsidiary. Ugro signed a share-purchase agreement with existing investor - British private equity firm Actis. This acquisition would add approximately ₹150 crore of annualized profit to UGRO making it a capital adequacy accretive transaction. Profectus has demonstrated stable portfolio expansion, building its assets under management to ₹3,468 crore as of March 2025, with presence across seven states through a 28-branch network and over 800-member team, all while maintaining a gross NPA of 1.6% and Net NPA of 1.1%, it added.

UGRO Capital to acquire Profectus Capital for ₹1,400 cr

UGRO’s profitability is moderate with FY25 ROA at 1.9% and cost-to-income at 53.8%. Expansion and Profectus synergies may boost ROA, but credit cost control is key to sustaining gains.



UGRO’s AUM reached ₹120B, but 63% was added in FY25, showing limited seasoning. Gross Stage 3 was 2.3%, lagged GNPA 5.2%, and credit cost 2.9%. Provision cover stood at 47%, with restructured loans at just 0.2%. Early delinquency control is a key monitorable.


The issuer has made timely interest payments.

Anuj Pandey, CEO

UGRO’s AUM rose to ₹120B in Q4 FY25, with off-book AUM at ₹50.9B. AUM is expected to exceed ₹150B post-transaction. It has 16 co-lending partners, including 6 PSU banks, and 235 branches, targeting 250 branches soon.



UGRO, an NBFC focused on MSME lending, offers secured and unsecured loans (₹0.5M–₹50M). It operates from 235 branches across 12 states, serving customers in 31 states/UTs, with no state exceeding 15% of AUM. The portfolio is diversified across 10 sectors, with the largest at 23%.


UGRO plans to raise ₹13B in Q1 FY26 after raising ₹12.7B in FY25. Capital base rose to ₹20.5B with a 19.4% CAR and 3.4x leverage, expected to drop below 3.0x. UGRO aims to cap leverage at 4.0x and unsecured loans at 30% to manage risk.


UGRO’s borrowings are diversified across 59 lenders, with term loans (54.3%), market instruments (27.6%), and ECBs (13.7%). Co-lending and a focused lender base support funding and may reduce borrowing costs post-transaction.



Security Name: 9.30% UGRO Capital Limited 05 Jan 2026

ISIN:

INE583D07489

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UGRO Capital Limited

Recent News

UGRO Capital Launches “PRAGATI” loan for women entrepreneurs

CRISIL Ratings upgrades U GRO Capital Limited's rating to CRISIL A Stable from CRISIL A- Positive

UGRO Capital to acquire Profectus Capital for ₹1,400 cr

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