UGRO Capital Q4 FY26 Results: Q4 PAT Recovers to ₹29.55 Crore from ₹6.38 Crore in Q3 — FY26 Total Income Crosses ₹1,840 Crore, AUM at ₹15,454 Crore (+40%)

UGRO Capital Limited — a DataTech NBFC specialising in MSME lending — reported a meaningful Q4 FY26 profitability recovery. Standalone Q4 PAT was ₹29.55 crore, bouncing sharply from ₹6.38 crore in Q3 FY26 — a 363% sequential improvement. Q4 total revenue from operations was ₹487.96 crore, which included a notable ₹122.54 crore gain on derecognition of financial instruments — a direct result of UGRO’s active co-lending and securitisation activity through its GRO Xstream platform.

For the full year FY26, UGRO Capital reported total income of ₹1,840.40 crore — up 27.6% from ₹1,441.85 crore in FY25. Interest income grew 32.8% to ₹1,272.93 crore, reflecting a rapidly expanding loan book. AUM grew 40% YoY to ₹15,454 crore. Full-year basic EPS was ₹9.13 compared to ₹15.52 in FY25 — a decline reflecting the higher cost of acquisitions (Profectus Capital, acquired June 2025) and branch expansion. The board approved capital raising plans through both debt and equity for FY27.

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UGRO Capital Q4 FY26 Financial Results

Source: UGRO Capital standalone audited results, EquityBulls, Whalesbook, BSE/NSE filing April 20, 2026.

The GRO Xstream Co-Lending Model

UGRO Capital’s business evolution is anchored around its GRO Xstream platform — a technology-enabled co-lending infrastructure that allows UGRO to originate MSME loans and share them with banking partners (including PSU and private banks). This “Capital-Lite” model is strategically significant: it lets UGRO grow its AUM without proportional balance sheet growth, while earning processing fees and retaining relationships with MSME borrowers. The ₹122.54 crore Q4 gain on derecognition of financial instruments reflects active securitisation — UGRO is selling down its loan portfolio to free up capital for fresh origination.

The 40% AUM growth to ₹15,454 crore reflects the co-lending model’s leverage. AUM includes both loans retained on UGRO’s books and loans originated through co-lending partnerships. The Profectus Capital acquisition (June 2025) added secured business loans capabilities and deepened the MSME franchise. The resulting integration costs and branch expansion are what drove FY26 EPS lower relative to FY25 — a short-term investment for longer-term franchise value.

Conclusion

UGRO Capital’s Q4 FY26 results show a company making meaningful operational strides — 40% AUM growth, ₹1,840 crore total income, and a sharp Q4 profitability recovery. The GRO Xstream co-lending model is the strategic moat. The FY26 EPS decline reflects acquisition and branch investment — a common pattern for growth-stage NBFCs. The capital raise approval for FY27 signals the company is preparing for the next AUM scaling phase. Watch for FY27 AUM guidance and credit cost trajectory post the Profectus integration.

For more Q4 FY26 results, visit Univest Blogs.

Frequently Asked Questions

1. What was UGRO Capital Q4 FY26 PAT?

₹29.55 crore (standalone) — up sharply from ₹6.38 crore in Q3 FY26, a 363% QoQ recovery, driven by ₹122.54 crore gain on derecognition of financial instruments through GRO Xstream.

2. What is UGRO Capital FY26 AUM?

₹15,454 crore — up 40% YoY. This includes loans on UGRO’s balance sheet and originated through co-lending partnerships.

3. What is UGRO Capital’s GRO Xstream platform?

GRO Xstream is UGRO Capital’s technology-enabled co-lending platform, connecting MSME loan originations with banking partners. This “Capital-Lite” model allows UGRO to grow AUM without proportional balance sheet expansion.

4. What is UGRO Capital FY26 total income?

₹1,840.40 crore — up 27.6% from ₹1,441.85 crore in FY25. Interest income grew 32.8% to ₹1,272.93 crore.

5. Why did UGRO Capital FY26 EPS decline?

FY26 basic EPS was ₹9.13 versus ₹15.52 in FY25. The decline reflects higher finance costs and operating expenses from the Profectus Capital acquisition (June 2025) and branch network expansion — deliberate investments in growth.

6. What capital raise did UGRO Capital approve?

The board approved proposals to raise funds through both debt and equity for FY27 and also approved the 33rd Annual General Meeting. Specific quantum was not disclosed in initial filings.

7. When do TCS announce Q4 results?

TCS declared Q4 FY26 results on April 9, 2026.

8. Is UGRO Capital a good investment?

UGRO Capital’s 40% AUM growth and co-lending model are differentiated. The FY26 EPS decline is acquisition-driven. Credit cost and asset quality trajectory post-Profectus integration are the key watchpoints. At current valuations, the growth story is compelling for patient investors. Consult a SEBI-registered financial advisor before investing.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only. All financial data sourced from publicly available NSE/BSE filings and news sources. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.

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