539199
SG Finserve share price & financials
- Price
- ₹590.9
- Market cap
- ₹4.4k Cr
- Sector
- Financial Services
- Calls analysed
- 4
SG Finserve Q4 FY26
What went well
- Operating income grew 96% YoY to INR 334 crores, demonstrating strong top-line performance.
- Loan Book reached an all-time high of INR 3,936 crores, marking a 75% YoY growth.
- Profit after tax for FY26 increased by 58% YoY to INR 128 crores, with Q4 PAT showing a 30% sequential growth to INR 42 crores.
What SG Finserve does
SG Finserve is an RBI-registered Non-Banking Finance Company (NBFC) that provides supply chain and working-capital financing to MSMEs, dealers, distributors and other downstream partners of large anchor corporates such as Tata Motors, Adani Group, APL Apollo, JSW and Vedanta. It earns by extending short-term loans against invoices, purchase orders and receivables, integrating directly with anchor corporates' SAP/ERP systems and GST/income-tax portals for real-time credit monitoring and disbursement. Its product suite spans vendor finance, dealer/distributor finance, deep-tier financing, invoice financing, purchase-order financing, and factoring/TReDS receivables discounting. The company is part of the APL Apollo Group, whose flagship APL Apollo Tubes is India's largest structured steel manufacturer.
- Anchor corporates
- 45+ (incl. Tata Motors, Adani Group, APL Apollo, JSW, Vedanta, ArcelorMittal Nippon Steel)
- Locations covered
- 30 (pan-India)
- Employee headcount
- 78
- Banking/lending partners
- 14 banks
- Credit rating
- AA (CE) / A1+ (ICRA & CRISIL)
- Promoter group
- Part of APL Apollo Group
Guidance record · Q4 FY26
what the last two calls moved 10 tracked 3 delivered 1 missed 6 open- AUM delivered, diluted said Q4 FY25 Promised: INR 4,000 crores in FY26 Q4 FY26: Achieved a closing loan book of INR 3,936 crores. This surpassed the revised target of INR 3,500 cr but fell short of the original INR 4,000 cr promise.
- PAT went quiet said Q4 FY25 Promised: Tripling net profit to INR 300 crores in the next 24 months from a INR 100 crore run rate. Q4 FY26: The original promise was never mentioned again. New guidance is for 30-35% PAT CAGR.
- AUM diluted said Q4 FY25 Promised: INR 6,000 crores in FY27 Q4 FY26: New guidance is for 35-40% AUM growth in FY27, which from a ~4000cr base implies ~5400-5600cr, still below the original 6000cr target.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 100.0%, net profit up 116.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 42 | 54 | 68 | 75 +142% | 86 +105% | 105 +94% | 136 +100% |
| Net profit | 14 | 24 | 24 | 25 | 28 +100% | 32 +33% | 42 +75% | 54 +116% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +77.1% 1Y
1Y: ₹375 on 10 Sept 2025 → ₹664. High ₹709.15 (6 Aug 2026), low ₹332.5 (1 Feb 2026).
How the price took the results
close before → close after
- Q4 FY26
- +11.5%
- 16 Apr
- Q3 FY26
- −1.4%
- 23 Jan
- Q2 FY26
- +4.6%
- 14 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 101.2% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹41 Cr | ₹190 Cr | ₹171 Cr | ₹334 Cr |
| Interest | ₹8 Cr | ₹65 Cr | ₹32 Cr | ₹134 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹19 Cr | ₹79 Cr | ₹81 Cr | ₹127 Cr |
| Net margin | 46.3% | 41.6% | 47.4% | 38.0% |
| ROE | 6.0% | 11.0% | 9.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹5 Cr | ₹41 Cr | ₹55 Cr | ₹56 Cr | ₹65 Cr |
| Reserves | ₹3 Cr | ₹4 Cr | ₹532 Cr | ₹751 Cr | ₹1.0k Cr | ₹1.4k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹493 Cr | ₹957 Cr | — | ₹2.7k Cr |
| Other liabilities | ₹0 Cr | ₹0 Cr | ₹13 Cr | ₹16 Cr | ₹72 Cr | ₹9 Cr |
| Total liabilities | ₹8 Cr | ₹9 Cr | ₹1.1k Cr | ₹1.8k Cr | ₹3.0k Cr | ₹4.2k Cr |
| Fixed assets | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹6 Cr | ₹6 Cr | ₹1.1k Cr | ₹1.8k Cr | ₹3.0k Cr | ₹4.2k Cr |
| Total assets | ₹8 Cr | ₹9 Cr | ₹1.1k Cr | ₹1.8k Cr | ₹3.0k Cr | ₹4.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +8.57 pp while the public trimmed −6.73 pp. The shareholder count shrank 9% to 28,150.
- Promoters
- 57.0%
- FIIs
- 0.5%
- DIIs
- 2.2%
- Public
- 40.3%
Since Jun 2025
- Promoters +8.57 pp
- Public −6.73 pp
- DIIs −2.26 pp
How it drifted, 12 quarters
Over this window the public fell from 51.3% to 40.3% — −11.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 47.8%, FIIs 0.1%, DIIs 0.7%, Public 51.3%.Dec '23: Promoters 47.8%, FIIs 0.2%, DIIs 0.8%, Public 51.2%.Mar '24: Promoters 47.8%, FIIs 0.3%, DIIs 1.4%, Public 50.6%.Jun '24: Promoters 47.0%, FIIs 0.4%, DIIs 1.6%, Public 51.0%.Sep '24: Promoters 48.4%, FIIs 0.1%, DIIs 1.8%, Public 49.7%.Dec '24: Promoters 48.4%, FIIs 0.1%, DIIs 1.9%, Public 49.6%.Mar '25: Promoters 48.4%, FIIs 0.1%, DIIs 2.3%, Public 49.3%.Jun '25: Promoters 48.4%, FIIs 0.1%, DIIs 4.4%, Public 47.1%.Sep '25: Promoters 48.4%, FIIs 0.2%, DIIs 4.0%, Public 47.4%.Dec '25: Promoters 50.3%, FIIs 0.1%, DIIs 3.5%, Public 46.2%.Mar '26: Promoters 52.9%, FIIs 0.3%, DIIs 3.3%, Public 43.5%.Jun '26: Promoters 57.0%, FIIs 0.5%, DIIs 2.2%, Public 40.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Sanjay Gupta newly disclosed 2.35% held
- S Gupta Holding Private Limited +1.64 pp 7.04% held
- Rohan Gupta +0.28 pp 23.06% held
The same filing shows 4 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of SG Finserve above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rohan Gupta | 23.06% | +0.28 pp |
| Rahul Gupta | 15.40% | −0.15 pp |
| S Gupta Homes Private Limited | 9.11% | −0.08 pp |
| S Gupta Holding Private Limited | 7.04% | +1.64 pp |
| Kitara Piin 1103 | 6.22% | −0.06 pp |
| Sanjay Gupta | 2.35% | newly disclosed |
| Madhusudan Murlidhar Kela .. | 1.44% | unchanged |
| Bandhan Large & Mid Cap Fund Mutual fund | 1.42% | unchanged |
| Sameer Gupta | 1.06% | −0.86 pp |
| Ashish Kacholia | — | off the list |
| Vinay Gupta | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse SG Finserve
Guides on how to read this kind of business and the numbers that matter.