SG Finserve Q4 FY26 Results: PAT Jumps 78% to ₹42.27 Crore, Loan Book Hits ₹3,936 Crore All-Time High, NIL NPA — Stock Surges 11.5%

April 17, 2026
Posted by: sachet
Category: News

SG Finserve Limited — the Delhi/Bengaluru-based supply chain NBFC — delivered its strongest quarterly performance ever in Q4 FY26. Net profit of ₹42.27 crore surged 77.69% year-on-year and 30.17% quarter-on-quarter. Revenue hit a record ₹105.41 crore — up 94.88% year-on-year. The loan book reached an all-time high of ₹3,936 crore as of March 31, 2026, growing 75% year-on-year and 23% quarter-on-quarter. Gross NPAs remain zero for the seventh consecutive quarter. The stock reacted emphatically, surging 11.51% on April 16 to close at ₹517.65.

For the full year FY26, SG Finserve delivered PAT of ₹127.66 crore — up 57.6% from ₹80.99 crore in FY25 — on revenues of ₹333.41 crore, nearly doubling from ₹169.97 crore. Gross disbursements crossed ₹25,000 crore during FY26, up 40% year-on-year. Return on Assets reached 4.80% and Return on Equity 12% — both improving from prior year levels.

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Table of Contents

SG Finserve Q4 FY26 Financial Results

Metric	Q3 FY26	Q4 FY25 (Base)	Q4 FY26 (Actual)
Operating Income	₹85.84 Cr (Q3)	₹54.09 Cr (Q4 FY25)	₹105.41 Cr (+94.88% YoY)
Net Interest Income	₹49.44 Cr	₹31.28 Cr (Q4 FY25) approx.	₹62.73 Cr (+77% YoY, +27% QoQ)
Profit Before Tax	₹43.05 Cr	₹31.08 Cr	₹56.21 Cr (+81% YoY, +30% QoQ)
Profit After Tax (PAT)	₹32.47 Cr	₹23.79 Cr	₹42.27 Cr (+77.69% YoY, +30.17% QoQ)
Loan Book (EOP)	₹3,210 Cr	₹2,248 Cr (Mar 2025)	₹3,936 Cr (+75% YoY, +23% QoQ)
FY26 PAT	—	₹80.99 Cr (FY25)	₹127.66 Cr (+57.6% YoY)
FY26 Revenue	—	₹169.97 Cr (FY25)	₹333.41 Cr (+96% YoY)
NPA Status	NIL	NIL	NIL (all-time)

Source: SG Finserve audited financial results, NSE outcome filing April 16, 2026, ICICI Direct rapid results, EquityBulls.

The Loan Book Story: ₹3,936 Crore and Growing

SG Finserve’s loan book has grown from ₹975 crore in March 2023 to ₹3,936 crore in March 2026 — a 4x expansion in three years. The Q4 FY26 addition of approximately ₹726 crore sequentially reflects accelerating disbursement momentum. Gross disbursements for Q4 were strong, contributing to the full-year ₹25,000 crore gross disbursement figure. The company provides working capital financing to dealers, distributors, and vendors of anchor corporates including Tata Group, JSW, Vedanta, Ashok Leyland, APL Apollo, Bajaj Electricals, Whirlpool, Oppo, and Kajaria — a diversified set of blue-chip anchors across construction, autos, and consumer electronics.

A key highlight from the management commentary: SG Finserve successfully commercialised its factoring business in March 2026, providing a new product revenue stream alongside the existing supply chain financing. This diversification of income lines is an important strategic development for FY27.

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Capital Structure and Leadership

During FY26, SG Finserve raised ₹316 crore through conversion of share warrants, significantly strengthening its capital base. Total equity stands at ₹1,460 crore as of March 31, 2026, with leverage of just 1.9x — providing substantial headroom for further loan book expansion without equity dilution in the near term. The company targets ₹7,500 crore AUM by FY30 with a 20% CAGR, and ₹500 crore Profit Before Tax in the same timeframe. The board also approved the appointment of Deepak Kumar as Additional Director and Chairperson effective April 16, 2026, subject to shareholder approval.

Conclusion

SG Finserve’s Q4 FY26 results are exceptional across every metric — PAT up 78%, revenue up 95%, loan book at all-time high, NIL NPA maintained. The company is executing on its “deepening and widening” strategy: adding new anchor relationships, expanding existing ones, launching new products like factoring, and strengthening the capital base. At a market cap of approximately ₹3,100 crore (post +11.5% on results day) against FY26 PAT of ₹127.66 crore, the stock trades at ~24x trailing earnings — a premium that reflects the high growth trajectory but demands continued execution. The FY30 targets of ₹7,500 crore AUM and ₹500 crore PBT represent a 5x PAT expansion from FY26 — ambitious but not implausible given the trajectory.

For more Q4 FY26 results analysis, visit Univest Blogs.

Frequently Asked Questions

1. What was SG Finserve’s Q4 FY26 PAT?

SG Finserve reported Q4 FY26 PAT of ₹42.27 crore — up 77.69% year-on-year from ₹23.79 crore in Q4 FY25, and up 30.17% quarter-on-quarter from ₹32.47 crore in Q3 FY26.

2. What is SG Finserve’s loan book as of March 31, 2026?

SG Finserve’s loan book reached ₹3,936 crore as of March 31, 2026 — up 75% year-on-year from ₹2,248 crore in March 2025, and up 23% quarter-on-quarter from ₹3,210 crore in December 2025. This is an all-time high for the company.

3. What is SG Finserve’s NPA status?

SG Finserve has maintained NIL Gross NPA for seven consecutive quarters — a remarkable asset quality record for an NBFC with a ₹3,936 crore loan book growing at 75% YoY. The cost-to-income ratio remains below 15%.

4. Why did SG Finserve shares rise 11.5% on April 16?

SG Finserve surged 11.51% to ₹517.65 on April 16, 2026, as investors cheered the record Q4 PAT of ₹42.27 crore (+78% YoY), 95% revenue growth, all-time high loan book, and NIL NPA — all significantly beating market expectations.

5. What is SG Finserve’s FY26 full-year performance?

FY26 PAT was ₹127.66 crore (+57.6% YoY), revenue ₹333.41 crore (+96% YoY), RoA 4.80%, RoE 12%, gross disbursements ₹25,000 crore (+40% YoY). Total equity stands at ₹1,460 crore with leverage of 1.9x.

6. What new business did SG Finserve launch in Q4?

SG Finserve commercialised its factoring business in March 2026 — a new product line alongside its core supply chain financing. This diversifies income streams and positions the company for FY27 growth through broader financial services offerings.

7. When do TCS announce Q4 results?

TCS declared Q4 FY26 results on April 9, 2026.

8. Is SG Finserve a good investment?

SG Finserve’s growth metrics are exceptional, but investors should note the relatively low ROE (12%) compared to high-growth NBFCs, moderate leverage (1.9x), and the premium valuation (~24x trailing PAT). The FY30 targets require sustained high growth. Consult a SEBI-registered advisor before investing.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.