FINBUD

Finbud Financial Services financials

Bangalore-based integrated retail-credit platform running an offline loan-agent marketplace, a proprietary credit-data engine, digital loan origination (Zap) and an RBI-approved NBFC (Equall).

Market cap: ₹245 Cr
Sector: Financial Services
Calls analysed: 2

Latest concall · Q4 FY26 · call held 01 Jun 2026

FINBUD Q4 FY26

Revenue ₹317.9 cr +42%EBITDA ₹19.9 cr +35%PAT ₹11.6 cr +39%

What went well

FY26 Revenue of INR 317.9 crores, up 42% YoY, driven by robust growth in both agent and digital verticals.
Overall EBITDA of INR 19.9 crores (35% YoY growth) and PAT of INR 11.6 crores (39% YoY growth) for FY26.
Successfully completed IPO and crossed over INR 10,250 crores in loans on the platform.

What to watch

Marginal decline in overall EBITDA margin from 6.6% last year to 6.3% in FY26, attributed to investments in digital business and temporary shifts in agency business.
NBFC (EQUALL) is still in a very early stage, with AUM of only INR 5.3 crores as of March 31, 2026, and external equity capital yet to be raised.

Read the full call →

What Finbud Financial Services Ltd does

Finbud Financial Services operates an integrated retail-credit franchise across four connected layers: an offline agent marketplace that sources borrowers and matches them to a panel of 100+ lenders; a proprietary data engine built from years of loan-application and behaviour signals; a digital direct-to-consumer loan-origination business (Zap) offering personal loans, gold loans and adjacent products; and Equall, an RBI-approved NBFC that lends on its own book against pre-selected customers drawn from the same funnel.

Segments

Distribution (Agent Marketplace)
Data
Digital (Zap)
Lending (Equall)

Agent network footprint: 1,000+ master agent partners; 50,000+ last-mile agents across 15+ states, 50+ cities, 19,000+ pincodes
Lender panel: 100+ lenders
Total loans disbursed on platform (FY26): ₹10,250+ crore
Agent (offline) business disbursals (FY26): ₹8,500+ crore
Digital (Zap) business disbursals (FY26): ₹1,700 crore (₹1,182 crore personal loans)
Customer/application dataset: 5 crore customers; 50-million-row application & behaviour dataset

Founded 2012Headquarters Bangalore, Karnataka Company website

Guidance record · Q4 FY26

what the last two calls moved 16 tracked 3 delivered 2 missed 11 open

Total Disbursals delivered said Q2 FY26 Promised: ₹9,700 crores (35% YoY growth) Q4 FY26: Achieved ₹10,250 crores in loans disbursed on the platform in FY26, exceeding the target.
Margin Profile missed said Q2 FY26 Promised: Continue to hold if not grow in the current financial year Q4 FY26: Full year FY26 EBITDA margin was 6.3%, a slight decline from H1's 6.5% and FY25's 6.6%. The margin did not hold.
5-year CAGR on track said Q2 FY26 Promised: 35% CAGR over the next five years Q4 FY26: FY26 performance showed strong growth (Revenue +42%, EBITDA +35%, PAT +39%), keeping the company on track for its long-term CAGR target.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

₹ Cr · quarterly

Line item	Q2 FY25	Q4 FY25	Q2 FY26	Q4 FY26
Revenue	102	121	139	177
Expenses	96	113	130	168
EBITDA	7	8	9	9
Margin	6%	7%	7%	5%
Other income	0	0	0	2
Interest	1	1	1	1
Depreciation	1	1	1	1
Profit before tax	5	7	7	8
Tax rate	29%	29%	28%	21%
Net profit	4	5	5	6
EPS	2354.43	3.32	3.66	3.33

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 +1.4% YTD

YTD: ₹126.8 on 1 Jan 2026 → ₹128.55. High ₹145.4 (3 Aug 2026), low ₹79.55 (30 Mar 2026).

How the price took the results

close before → close after

Q4 FY26: −5.0%; 1 Jun
Q2 FY26: −3.4%; 3 Dec

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.

Balance sheet

Year ending	FY22	FY23	FY24	FY25	FY26
Equity capital	₹0 Cr	₹0 Cr	₹0 Cr	₹14 Cr	₹19 Cr
Reserves	₹4 Cr	₹6 Cr	₹12 Cr	₹27 Cr	₹96 Cr
Borrowings	₹6 Cr	₹7 Cr	₹12 Cr	₹35 Cr	₹23 Cr
Other liabilities	₹15 Cr	₹14 Cr	₹21 Cr	₹19 Cr	₹28 Cr
Total liabilities	₹25 Cr	₹28 Cr	₹45 Cr	₹95 Cr	₹167 Cr
Fixed assets	₹2 Cr	₹2 Cr	₹2 Cr	₹3 Cr	₹5 Cr
Capital work in progress	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Investments	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹6 Cr
Other assets	₹23 Cr	₹26 Cr	₹43 Cr	₹92 Cr	₹156 Cr
Total assets	₹25 Cr	₹28 Cr	₹45 Cr	₹95 Cr	₹167 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 Mar 2026

Promoters: 48.3%
FIIs: 0.8%
DIIs: 5.9%
Public: 45.1%

Who was buying across the market this quarter →

Who is on the register

Named in the Mar 2026 filing

Every holder of Finbud Financial Services Ltd above SEBI's 1% disclosure line.

Holder	Stake
Vivek Bhatia	16.44%
Parth Pande	16.00%
Parag Agarwal	15.81%
Ashish Kacholia	5.36%
Firm	4.72%
Suresh Kumar Agarwal	4.72%
Bengal Finance And Investment Pvt Ltd	3.42%
Al Maha Investment Fund Pcc-Onyx Strategy FPI fund	2.52%
Bandhan Small Cap Fund Mutual fund	2.45%
Minerva Ventures Fund FPI fund	2.02%
Venkata Nagaraju Padala	1.91%
V Prabhakar Ram	1.29%

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 (2)

Read the Q4 FY26 call →

Learn to analyse Finbud Financial Services Ltd

Guides on how to read this kind of business and the numbers that matter.