SPANDANANSE23 January 2025

Spandana Sphoorty Financial Limited has informed the Exchange about Investor Presentation

Spandana Sphoorty Financial Limited

Ref: SSFL/Stock Exchange/2024-25/134

January 23, 2025

To BSE Limited, Department of Corporate Services P. J. Towers, 25th Floor, Dalal Street, Mumbai – 400001

To National Stock Exchange of India Limited, Listing Department Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Scrip Code: 542759

Symbol: SPANDANA

Dear Sir/Madam,

Sub: Investor presentation on the unaudited financial results of the Company for the quarter and nine months ended December 31, 2024.

Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of investor presentation on the unaudited financial results of the Company for the quarter and nine months ended December 31, 2024.

Kindly take the same on record.

Thanking you.

Yours sincerely, For Spandana Sphoorty Financial Limited

Vinay Prakash Tripathi Company Secretary

Encl: as above

Spandana Sphoorty Financial Limited CIN - L65929TG2003PLC040648 Galaxy, Wing B, 16th Floor, Plot No.1, Sy No 83/1, Hyderabad Knowledge City, TSIIC, Raidurg Panmaktha, Hyderabad – 500081, Telangana Ph: +9140-45474750 | contact@spandanasphoorty.com | www.spandanasphoorty.com

Invested in Bharat!

Spandana Sphoorty Financial Limited

Saura Art

Q3 FY25 Investor Presentation

Safe Harbor

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Spandana Sphoorty Financial Limited (the

“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe

for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of

securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no

representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and

reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may

consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are

individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to

known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the

performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide,

competition,

the company’s ability to successfully implement

its strategy,

the Company’s future levels of growth and expansion,

technological

implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market

risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from

results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this

Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and

the Company is not responsible for such third-party statements and projections.

Spandana 2.0 started with a set of objectives

Key levers

March 2022

December 2024

Achievement

Reduce geographic concentration in top 4 states by expanding in North

~57% AUM contribution of top 4 states

57%

~50% AUM contribution of top 4 states

50%

Weekly Collection model

Only monthly branches

14%

Weekly AUM Share (%)

Project Parivartan (covering ~55% monthly branches) experienced implementation challenges.

Muted ticket sizes

Maximum of ₹80,000

Shorter tenures

24 months

12 / 18 / 24 months

Customer acquisition led growth

Added 8.9L borrowers in FY23, 13.9L borrowers in FY24

Added 3.3L borrowers in 9MFY25 Customer addition slowed because of industry challenges

In the interim – Industry experienced challenges

Factor

Attrition

Increasing

borrower leverage

Issues

Spandana’s Q3FY25 experience

Industry wide attrition*, especially among Loan Officers (~71%) and Branch managers (~36%), continues to remain high.

People focused initiatives taken in light of attrition. Slight improvement visible in Q3FY25

Lender overlap

(in %)

Before disbursement#

October 2024 ^

Latest data ^

Only Spandana

Spandana + 1

Spandana + 2

Spandana + 3

Spandana + ≥4

Total

35.8%

28.5%

19.7%

10.3%

5.6%

100%

29.0%

24.6%

19.5%

13.1%

13.8%

100%

25.4%

24.6%

20.2%

14.0%

15.8%

100%

1. Conservative stance taken on credit - • Paused New-to-credit customer acquisition • No new loans to borrowers with 30+ dpd

2. Guardrails 2.0 to bring in necessary checks

and control borrower leveraging

Borrower discipline

Dilution of JLG model post Covid is taking longer to turn around. Door-knock for collections as center meeting attendance is low.

External influence

External influence, disturbances and localized debt waiver movements

Pockets in Karnataka, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha & Uttar Pradesh affected

* Source: MFIN Micrometer * Source: MFIN Micrometer # Based on Credit Bureau reports generated at the time of disbursement of entire borrower base ^ Based on latest Credit Bureau data as of October 2024 and January 2025

While Spandana addressed concentration risk by increasing its presence in North - Industry challenges are more pronounced in this geography

Industry 31 – 180 book*

8.6%

7.1%

7.4%

3.7%

4.1%

4.4%

5.7%

3.5%

3.2%

4.2%

2.6%

3.0%

East

West

North

South

31 - 90

90 - 180

Spandana’s region wise AUM share (%)

28%

26%

27%

26%

29%

27%

16%

30%

22%

25%

21%

23%

Mar-23

Mar-24

Dec-24

East

West

North

South

•

51% of new branches opened in FY23 & FY24 were in North India.

Industry data suggests that Rajasthan, Uttar Pradesh and Bihar have

seen rapid asset quality deterioration in the last few months

*Source: CRIF Highmark; The representation is % of 0 – 180 dpd industry book for December 2024;

Spandana 2.0 - will continue the prudent approach on lending

Lower ticket sizes across cycles

No loan beyond 24 months

Cycle wise maximum ticket size

Tenor Distribution #

Cycle 1

Cycle 2

Cycle 3

>=Cycle 4

42,000

65,000

72,000

80,000

Low ticket size*

24%

76%

72%

28%

24m

12m to 18m

Shorter tenures

Weekly

Monthly

Diversified distribution. No State >12% AUM by FY26

To re-initiate weekly transition, however in small batches

AUM distribution^

AUM share of Weekly Branches

13%

Odisha

Madhya Pradesh

Bihar

Andhra Pradesh

Karnataka

Others

12%

14%

Dec-23

Mar'24

Dec'24

Geographic Diversification

* Average ticket size for Q3FY25 was about ₹46,500 ^ Standalone # Q3FY25 disbursement

Weekly Model .

December 2024 - green shoots visible on improvement in collection efficiency

Current book Net CE (%)

Current book Net Collection Efficiency

Signs of trend reversal seen in current book Net Collection efficiency

97.8%

96.7% 96.4%

95.9%

Sep-24 Oct-24 Nov-24 Dec-24

Branch staff attrition

People focused initiative have helped reduce annualized attrition of Branch Manager to ~33% in Q3FY25.

Controls at branches

75% branches staffed with control function. Strong traction seen in basic branch process hygiene like center meeting monitoring, checks of CGT photos, calls to customers who missed due date payment etc.,

Reviving center meeting attendance

Center meeting attendance, a leading indicator of customer engagement, is seeing some revival

Strengthening the business fundamentals

• Good traction on recovery from GNPA/write off bucket. Q3 equal to H1 of FY25. Expecting significant recoveries in next 3-4 quarters

Recovery

•

600 Customer Retention Associate deployed for recovery from GNPA and written-off portfolio. Team size to be increased to 1000 by March 2025

Recovery (₹ Cr)

Field team supported by tele-calling agents and data analytics

Q1FY25

Q2FY25

Q3FY25

Collection Efficiency

more time for pursuing Portfolio Quality

• Focus on driving center meeting regimen

• Borrower-to-LO span reduced from 315 to 249. Field team to have

• Continuous customer engagement to build credit discipline

• Focus on serving existing borrowers

Disbursement

• Cautious disbursement stance to continue in Q4FY25

• Credit criteria tightened for existing and new customers

Equity raise of upto ₹750 Cr

• Comfortable liquidity; ~17% assets held as cash and equivalents

• To raise confidence capital of upto ₹750 Cr to fund future growth

• Funds to be raised at an appropriate time considering market

conditions

Comfortable CRAR position*

32.7%

35.7%

36.0%

Jun-24

Sep-24

Dec-24

* Standalone

Q3FY25 & 9MFY25 Results

External challenges continue to impact operations AUM declined by 14% YoY. Deliberate disbursement slowdown to drive portfolio quality & center discipline

Q3 FY25

Q3 FY24

YoY (%)

Q2 FY25

QoQ (%)

9MFY25

9MFY24

YoY (%)

Disbursement (₹ Cr)

1,443

2,543

(43)%

1,514

(5)%

5,240

6,719

AUM (₹ Cr)

8,936

10,404

(14)%

10,537

(15)%

8,936

10,404

Funds raised (₹ Cr)

Income (₹ Cr)

Net Interest Income (₹ Cr)

PPOP (₹ Cr)

Impairment (₹ Cr)

PAT (₹ Cr)

GNPA

NNPA

872

573

265

666

(440)

2,279

(62)%

1,584

(45)%

4,010

7,013

657

309

240

127

(13)%

707

(19)%

2,016

1,824

(14)%

341

(22)%

1,031

(67)%

228

(66)%

593

850%

516

(568)

(216)

29%

(224)

1,394

(601)

911

687

189

372

4.85%

1.61%

+324 bps

4.86%

(2) bps

4.85%

1.61%

+324 bps

0.98%

0.48%

+51 bps

0.99%

(-) bps

0.98%

0.48%

+51 bps

(22)%

(14)%

(43)%

11%

13%

(14)%

639%

(973)

Weekly branches account for ~19% of Q3FY25 disbursement

No. of customers (in L)

Branch count

33.2

34.1

33.0

29.6

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Number of employees

No. of Employees

12,989

14,243

15,574

17,371

No. of Loan officers

9,653

9,873

11,144

19,808

12,578

8,374

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

1,529 375

1,642

429

1,665

434

1,723

442

1,774

449

1,154

1,213

1,231

1,281

1,325

2,000

1,800

1,600

1,400

1,200

1,000

800

600

400

200

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Monthly Weekly

Total

AUM per branch^ (₹ Cr)

9.0

9.2

8.4

6.9

5.4

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

^AUM for branches with tenure >1 year which includes 477 branches opened between January 2023 and December 2023

Weekly branches account for ~19% of Q3FY25 disbursement

Weekly Branch count

429

434

442

449

375

Weekly branch Disbursement share (%)

21%

24%

22%

19%

16%

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Weekly branches AUM (₹ Cr)

1,456

1,432

1,279

1,199

535

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Q3 FY24

Q4 FY24

Q1 FY25

Q2 FY25

Q3 FY25

Weekly branches Net Collection Efficiency (%)

100.6% 100.5%

99.9%

96.7%

94.1%

99.7%

99.4%

98.1%

94.2%

92.5%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

Q3 FY24

Q4 FY24 Gross CE (%)

Q1 FY25

Q2 FY25 Net CE (%)

Q3 FY25

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

AUM at ₹8,936 Cr Top 4 States contribute ~50% of AUM vs. 57% in March 2022

AUM (₹ Cr)

Disbursement (₹ Cr)

11,973

11,723

10,404

10,537

8,936

QoQ (5)%

YoY (43)%

YoY (22)%

6,719

2,543

5,240

1,514

1,443

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Q2FY25

Q3FY25

Q3FY24

9MFY25

9MFY24

AUM Concentration of top 4 states at ~50%

Collection Efficiency (%)

57%

43%

50%

Mar-22

Dec-24

Rest of India

Top 4 States

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

99.9%

99.3%

97.5%

93.7%

92.4%

97.2%

96.5%

94.0%

90.8%

90.7%

Q3FY24

Q4FY24

Q1FY25

Q2FY25

Q3FY25

Gross CE

Net CE

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

Comfortable liquidity maintained

Incremental borrowing (in ₹ Cr)

Cost of borrowing

QoQ (45)%

YoY (62)%

YoY (43)%

7,013

12.3%

11.8%

11.7%

11.6%

12.2%

11.7%

11.8%

11.4%

1,584

Q2 FY25

872

Q3 FY25

2,279

4,010

10.8%

Q3 FY24

9M FY25

9M FY24

Q3 FY24

Q4 FY24

Cost of Borrowing

Q1 FY25

Q2 FY25 Marginal Cost of Borrowing

Q3 FY25

Cash and bank balance (in ₹ Cr)

Diversified borrowing mix

2,305

1,830

1,757

1,756

Borrowing Outstanding (₹ Cr)

Sep-24

Oct-24

Nov-24

Dec-24

8,798

10,208

9,386

8,659

7,494

22%

23%

53%

20%

21%

57%

16%

23%

59%

23%

21%

54%

22%

21%

55%

Dec-23

Mar-24

Jun-24

Sep-24

Dec-24

Banks

NBFC

FPI

Capital Markets

PCR maintained at 80%

Asset Classification

Loans Outstanding (₹ Cr)

% of Loans Outstanding

ECL Provision (₹ Cr)

Coverage

Loans Outstanding (₹ Cr)

% of Loans Outstanding

ECL Provision (₹ Cr)

Coverage

31-Dec-24

30-Sep-24

Stage 1

Stage 2

31 - 60

61 - 90

Stage 3

Total

GNPA

NNPA

PCR

7,225

87.51%

631

389

243

400

8,256

7.65%

4.71%

2.94%

4.85%

100%

290

173

118

319

701

1.27%

46.01%

44.44%

48.53%

79.68%

8.50%

8,730

88.98%

604

355

249

477

9,812

6.16%

3.62%

2.54%

4.86%

100%

31-Dec-24

30-Sep-24

SSFL

Consolidated

SSFL

Consolidated

4.85%

4.88%

4.86%

0.96%

0.98%

0.97%

0.99%

Impairment on financial instruments

- On technical write-off’s

- On GNPA

- On stage 1, 2 & others

80.16%

79.68%

80.05%

79.66%

Total

281

159

121

380

739

0.89%

46.45%

44.88%

48.68%

79.66%

7.53%

Amount (₹ Cr)

Q3FY25

Q2FY25

677.97

(61.40)

49.50

666.07

262.64

147.29

106.49

516.41

Q3FY25 PPOP at ₹78 Cr impacted by lower AUM (deliberate slowing down the disbursement), higher opex & reversals

Income*

Net Interest Income

In ₹ Cr

QoQ (19)%

YoY (13)%

YoY +11%

2,016

1,824

707

573

657

QoQ (22)%

YoY (14)%

YoY +13%

1,031

911

341

265

309

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

PPOP*

PAT*

QoQ (66)%

YoY (67)%

YoY (14)%

687

240

593

QoQ (224) Cr

YoY (568) Cr

127

YoY (973) Cr

372

228

Q2 FY25

Q3 FY25

*Includes Net gain on fair value change of ₹ 3 Cr toward DA transaction undertaken in Q3FY25 vs. ₹20 Cr in Q3FY24 & ₹43 Cr in 9MFY25 vs. ₹64 H1FY24

Q3 FY24

9M FY25

9M FY24

-216

Q2 FY25

-440 Q3 FY25

Q3 FY24

-601 9M FY25

9M FY24

Yield and NIM impacted by decline in AUM & higher delinquencies Cost of borrowing at 12.2% in Q3FY25

Yield (%)

Cost of Borrowing^ (%)

QoQ (128) bps

YoY (291) bps

YoY (138) bps

QoQ 41 bps

YoY (8) bps

YoY (43) bps

22.4%

21.1%

24.1%

24.2%

22.8%

11.8%

12.2%

12.3%

12.0% 12.4%

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

NIM (%)

Opex-to-AUM (%)

QoQ (142) bps

YoY (195) bps

12.8%

11.3%

13.3%

YoY (64) bps 13.2% 13.9%

QoQ 271 bps

YoY 392 bps

10.5%

7.8%

6.6%

YoY 161 bps

8.2%

6.6%

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

^ Interest expenses divided by average monthly borrowing outstanding

Elevated Cost-to-income due to higher opex & lower income Decline in RoA due to high impairment cost & deliberate slowdown in disbursement

Cost-to-income^ (%)

ROE (%)

QoQ 2,369 bps

YoY 3,482 bps

77.7%

YoY 1,268 bps

55.1%

54.1%

42.9%

42.5%

Q2 FY25

Q3 FY25

Q3 FY24

9M FY25

9M FY24

QoQ (2,877) bps

YoY (6,715) bps

14.7%

YoY (3,755) bps

15.0%

-23.7%

Q2 FY25

-52.4% Q3 FY25

Q3 FY24

-22.6%

9M FY25

9M FY24

ROA (Total Assets) (%)

ROA (On book POS) (%)

QoQ (912) bps

YoY (2,058) bps

4.4%

YoY (1,137) bps

4.7%

-7.0%

Q2 FY25

-16.2% Q3 FY25

Q3 FY24

-6.7%

9M FY25

9M FY24

QoQ (1,076) bps

YoY (2,434) bps

5.5%

YoY (1,338) bps

5.7%

-8.1%

Q2 FY25

-18.9% Q3 FY25

Q3 FY24

-7.7%

9M FY25

9M FY24

^ Includes Net gain on fair value change of ₹3 Cr toward DA transaction undertaken in Q3FY25 vs. ₹20 Cr in Q3FY24 & ₹43 Cr in 9MFY25 vs. ₹64 H1FY24

Consolidated Net-worth of ₹3,082 Cr, CRAR at 35.7%

Gearing at 2.2x (consolidated)

SSFL Standalone Net-worth & CRAR

3,497

3,645

2.6

3,707

3,507

3,082

2.4

2.3

2.2

4000

3500

3000

2500

2000

1500

1000

2.7

2.6

2.5

2.4

2.3

2.2

2.1

1.9

5000

4000

3000

2000

1000

35.9%

35.7%

36.0%

32.0%

32.7%

3,414

3,556

3,614

3,426

3,047

Dec 23

Mar 24

Jun 24

Sep 24

Dec 24

Dec 23

Mar 24

Jun 24

Sep 24

Dec 24

Net-worth (₹ Cr)

Gearing (x)

Net-worth (₹ Cr)

CRAR (%)

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

Consolidated Income Statement

Particulars (₹ Cr)

Revenue from Operations

Interest income on loans

Net gain on fair value changes

Other Income

Total income from operations

Non-operational Income

Total income

Finance cost

Net Income

Expenses

Employee benefit expense

Depreciation and amortization expense

Other expenses

Total Expenses

Pre-Provision Operating Profit (PPOP)

Impairment on financial instruments

Profit before Tax

Tax expense

Profit after tax

Q3 FY25

Q2 FY25

Q3 FY24

QoQ

YoY

9MFY25

9MFY24

YoY

494

555

573

229

344

184

265

666

599

686

707

258

448

153

220

228

516

(588)

(147)

(440)

(289)

(72)

(216)

559

626

657

250

407

119

166

240

170

127

(18)%

(35)%

(-)%

(19)%

(12)%

(19)%

(11)%

(23)%

20%

22%

20%

(66)%

29%

(299)

(75)

(224)

(12)%

(13)%

10%

(11)%

(42)%

(13)%

(8)%

(16)%

54%

84%

60%

(67)%

850%

(758)

(190)

(568)

1,777

1,588

137

129

1,951

1,748

2,016

1,824

747

1,269

677

1,147

471

189

676

593

1,394

(801)

(200)

(601)

332

114

460

687

189

498

126

372

12%

18%

12%

(15)%

11%

10%

11%

42%

16%

66%

47%

(14)%

639%

(1,300)

(327)

(973)

Dec 31, 2024

Mar 31, 2024

Liabilities & Equity (₹ Cr)

Dec 31, 2024

Mar 31, 2024

Consolidated Balance Sheet

Assets (₹ Cr)

Financial Assets

Cash and bank balances

Loan Portfolio

Investments

Other financial assets

1,756

7,621

1,894

11,014

112

Total Financial Assets

9,530

13,104

Non-Financial Assets

Current tax assets (net)

Deferred tax assets (net)

Property, Plant and Equipment

Intangible assets

Goodwill

Other non-financial assets

115

326

133

Total Non-financial assets

533

278

Total Assets

10,064

13,383

Financial Liabilities

Debt Securities

Borrowings (Other than Debt Securities)

Subordinated Liabilities

Other Financial liabilities

Total Financial Liabilities

Non-Financial Liabilities

Current Tax Liabilities (net)

Provisions

Other Non-Financial liabilities

Total Non-Financial Liabilities

Equity

Equity Share Capital

Other Equity Equity attributable to shareholders of the company Non-Controlling Interest

Total Equity

Total Liabilities and Equity

2,737

4,009

166

6,911

3,010

3,081

0.2

3,082

10,064

4,064

5,340

253

9,678

3,573

3,645

0.3

3,645

13,383

Credit Rating

Spandana Sphoorty Financial Ltd

Rating Agency

Rating Instrument

Rating / Outlook (Current)

Rating / Outlook (30-Sep-24)

Change

ICRA

Bank Facilities / NCD’s

A+ / Negative

A+ / Stable

Outlook change

India Ratings

Bank Facilities / NCD’s

A+ / Negative

A+ / Stable

Outlook change

CARE

Bank Facilities / NCD’s CP’s

A+ / Negative A1+

A+ / Stable A1+

Outlook change

CRISIL

Bank Facilities

A / Stable

A / Positive

Outlook change

Criss Financial Ltd

Rating Agency

Rating Instrument

Rating / Outlook (Current)

Rating / Outlook (30-Sep-24)

Change

ICRA

Bank Facilities / MLD’s

A / Negative

A / Stable

Outlook change

India Ratings

Bank Facilities / NCD’s

A / Negative

A / Stable

Outlook change

Annexure

Positive ALM across maturity buckets

Positive ALM (₹ Cr)*

Maturity profile* (in months)

1,973

2,503

2,055

2,010

1,699

1,550

1,134

3,047

10.3

8.2

11.7

8.6

564

552

411

568

551

286

upto 1m 1m to 2m 2m to 3m 3m to 6m 6m to 12m 1Y to 3Y

3Y to 5Y

Over 5Y

Dec-24

Sep-24

Assets

Liabilites

Avg. residual maturity of assets

Avg. residual maturity of borrowing

•

Positive ALM on cumulative basis with assets maturing faster than liabilities

Closing Cash and Bank balance (₹1,688 Cr as on 31 Dec 2024)

* Standalone

Well diversified presence

AUM concentration* - ~49% from top 4 States

District level concentration*

% of AUM

Largest

1.7%

12%

13%

10%

11%

State

Odisha

Madhya Pradesh

Bihar

Andhra Pradesh

Karnataka

Maharashtra

Uttar Pradesh

Jharkhand

Chhattisgarh

West Bengal

Rajasthan

Gujarat

Telangana

Tamil Nadu

Other states

Dec-24 13%

Mar-24 14%

Mar-23 15%

13%

12%

11%

10%

13%

12%

10%

17%

11%

10%

0.1%

* Standalone for SSFL

Total

100%

Top 5

7.9%

Top 10

13.4%

Top 20

22.1%

Others

77.9%

Branch level concentration*

Largest

0.2%

Top 5

1.0%

Top 10

1.9%

Top 20

3.6%

Others

96.4%

Metrics over the years

AUM (₹ Cr)

Disbursement (₹ Cr)

GNPA (%) & NNPA (%)

11,973

8,157

6,829

6,581

8,511

10,688

8,125

8,004

6,426

3,373

18.7%

10.5%

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

FY20

FY21 GNPA (%)

FY22

FY23

FY24

NNPA (%)

3.1% 0.1% 1.4%

0.4%

2.1% 1.5% 0.6%

0.3%

Net Interest Income (₹ Cr)

PAT (₹ Cr)

1,289

501

907

784

780

810

352

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

145

Accelerated growth delivered over last year

Customers (in L)

Employees

Customers / Branch & LO *

25.7

24.5

23.5

22.6^

33.2

14,243

8,224

8,644

8,763

10,016

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

^Loans outstanding of ~6 L Customers written-off

2,541

2,324

590

2,097

1,914

2,021

432

382

343

344

3000

2500

2000

1500

1000

500

FY20

FY21

FY22

FY23

FY24

Borrowers / Branch

Borrowers / LO

Loan Officers

Branches

AUM / Branch & AUM / LO *

5,665

6,157

7,103

4,350

9,653

1,010

1,052

1,120

1,179

1,642

6.8

1.6

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

7.8

1.4

5.9

1.1

7.2

7.3

1.2

FY20

FY21

FY22

FY23

FY24

850

750

650

550

450

350

250

150

-50

3.0

2.5

2.0

1.5

1.0

0.5

0.0

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

*Includes branches with tenure less than 1 year as well

AUM / Branch (₹ Cr)

AUM / LO (₹ Cr)

Glossary

Key Ratio

Portfolio Yield

Cost of borrowing

Marginal COB (XIRR)

Marginal COB (Nominal XIRR)

Net Interest Income

Net Interest Margin

Abbreviation

Definition

Yield

COB

NII

NIM

Interest income divided by average monthly loan outstanding

Interest expenses divided by average monthly borrowing outstanding

Multiplication of borrowing availed during the period and cost of borrowing (inclusive all cost on XIRR) divided by total borrowing availed during the period

Multiplication of borrowing availed during the period and cost of borrowing (inclusive all cost on Nominal XIRR) divided by total borrowing availed during the period

Interest income on loans less finance cost

Net Interest Income divided by average monthly loan outstanding

Pre-Provision Operating Profit

PPOP

Total Income minus finance cost minus operating expenses

Cost to Income

Portfolio Outstanding

Assets Under Management

C / I

POS

AUM

Operating expenses / Total income minus finance cost

On Balance Sheet loan outstanding at the end of reporting period

POS + Direct Assignment outstanding at the end of reporting period

Operating expenses-to-AUM

Opex-to-AUM

Total operating expenses divided by average monthly AUM

Return On Assets (Total Assets)

ROA (Total Assets) or ROTA

PAT divided by average quarterly total assets

Return On Assets (On-book POS)

ROA (On-book POS)

PAT divided by average monthly loan outstanding

Return on Equity

Gross Non-Performing Assets

Net Non-Performing Assets

Provision Coverage

ROE

GNPA

NNPA

PCR

PAT divided by average monthly Net-worth

Represents stage III loan outstanding at the end of reporting period

Represents stage III loan outstanding at the end of reporting period net of ECL provision against stage III loans

ECL on stage III loans divided GNPA

Spandana Sphoorty Financial Limited

Thank you!

Investor Relations

Spandana Sphoorty Financial Ltd Investor.relations@spandanasphoorty.com

Strategic Growth Advisors Pvt. Ltd Abhishek Shah +91 99306 51660

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