SPANDANANSE30 May 2025

Spandana Sphoorty Financial Limited has informed the Exchange about Investor Presentation

Spandana Sphoorty Financial Limited

Ref: SSFL/Stock Exchange/2025-26/025

May 30, 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 audited financial results of the Company for the quarter and year ended March 31, 2025.

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 audited financial results of the Company for the quarter and year ended March 31, 2025.

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

Kurumba Art

Q4 FY25 & 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.

FY25 was a challenging year for the microfinance industry: • Multiple external headwinds including borrower overleveraging, weakening of JLG model, deterioration in

borrower discipline and socio-political influences had an impact on the industry in FY25.

• Cautious disbursement approach adopted as delinquencies increased during the year • AUM at the end of March 2025 was ₹6,819 Cr - YoY decline of 43% • Standalone GNPA & NNPA was 4.85% & 0.96% at the end of March-25 vs. 1.43% & 0.29% respectively at the

end of March-24

Executive Summary

Continuing improvement in lead indicators: • X-bucket Collection Efficiency at 98.9% (ex-Karnataka) & 98.6% overall in March 2025 • Recovery of ₹52 Cr & ₹96 Cr in Q4FY25 & FY25 respectively from GNPA / Write-off pool

Sufficient liquidity: • Maintained liquidity of ₹2,030 Cr as on 31 March 2025 to meet short- and medium-term needs • Company well capitalized with CRAR of 37.1% as on 31 March 2025

Equity raise: • • Board Committee formed to oversee capital raise including a possible rights issue in Q2FY26 with promoter

₹750 Cr capital raise approved by shareholders in March 2025

participation

Envisioning future growth: • Multiple technology driven controls to be introduced across customer journey to strengthen credit underwriting • Engagement with over 50% of existing quality borrowers to be prioritized in FY26 for fresh disbursements • Reassessment of branches to improve efficiencies

Underlying indicators show continuing upward trend in green shoots Microfinance industry traversed a turbulent FY25

Green shoots continue to gain momentum

Industry Portfolio* (₹ L Cr)

• Pace of flows into higher buckets has slowed down in the recent months

• Industry reporting X-bucket collection efficiency of ~99% for March 2025

4.3

• Normalization expected by end of Q2FY26

4.2

(11.6)%

4.1

3.9

3.8

Multiple challenges have impacted the industry in FY25…

• Variety of issues impacted the microfinance industry in FY25 resulting in 11.6% decline of portfolio to ₹3.8 L Cr in Mar-25 from ₹4.3 L Cr in Mar-24.

• Issues include extreme climate conditions, deteriorating borrower discipline, increasing borrower leverage, third party influence on borrowers, industry wide attrition and regulatory changes in few states.

… resulting in elevated PAR

• Industry wide PAR across buckets increased during FY25

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Industry PAR 30+*

18.8%

16.2%

12.9%

• PAR 31 – 90 increased from 1.2% in Mar-24 to 2.7% by Mar-25. Similarly,

PAR 90+ increased from 8.8% in Mar-24 to 16.0% by Mar-25

10.0%

10.3%

• Industry has adopted a cautious disbursement stance owing to elevated

PAR

* Source: MFIN Micrometer, Issue 52 & CRIF Highmark

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Spandana following a conservative approach by tightening credit controls

Key risk parameters put in place by Spandana

Guidelines prescribed by SROs

Spandana can be upto 3

microfinance lender

Households with a microfinance and unsecured retail loan exposure beyond ₹2,00,000 will not be given an additional loan. 50% FOIR norm continues to apply

Existing borrower: Not to lend to borrowers / households with DPD > 30 days irrespective of amount with any lender New borrower: Not to lend to borrowers / households with DPD > 1 day irrespective of amount with any lender

Pricing policy approved by Board. Processing fee capped at 1.0%. CDL & other products offered only after a sufficient healthy credit behaviour is established

All loans to be included for calculation of FOIR including (a) Bullet loans and (b) Tradelines with missing EMI and (c) loan being assessed

Complies with Guardrail

No lending to clients with DPD > 60 days with loan amount outstanding over ₹3,000 with any regulated entity

Pricing policy to be approved by Board. Processing fee capped at 1.5%. No hidden charges and product bundling

Complies with Guardrail

Daily submission of data to CICs

Daily submission of data to CICs by all Regulated Entities

Spandana undertakes e-verification of Voter-IDs

Voter ID with mandatory e-validation to be primary ID.

No loans to borrowers with an existing loan disbursed in a span of 12 months or <50% repayment – to be implemented by June 2025

No loans to borrowers with an existing loan disbursed in a span of 12 months or <50% repayment

Multiple initiatives rolled-out during the year to tackle challenges

Control function introduced at branch level to improve process hygiene & checks

Increased Loan Officer head count to ease stress of field employees

Dedicated team for collections from 90+ dpd customers

Increased engagement with field staff through various channels

Tele-calling delinquent borrowers to encourage them for timely payment of dues

Prudent measures taken to ensure sufficient liquidity

Liquidity (₹ Cr)

Asset distribution (31-Mar-25)

Diversified borrowing

2,115

2,030

1,801

1,839

24%

67%

Cash & bank balances Loan portfolio

Other assets

22%

18%

57%

Jan-25

Feb-25

Mar-25

28-May-25

Banks

NBFC

FPI

Capital Markets

On track to raise confidence capital:

• Comfortable liquidity; ~24% assets held as cash and equivalents

• 37% CRAR at the end of March-2025

• ₹750 Cr capital raise approved by shareholders in March 2025

• Board Committee formed to oversee capital raise including a possible rights issue in Q2FY26

with promoter participation

CRAR (%)

36.0%

37.1%

Dec-24

Mar-25

ALM remains positive across maturity buckets

Positive ALM (₹ Cr)*

Maturity profile* (in months)

1,883

1,719

1,569

1,552

1,394

1,506

943

2,623

9.4

7.4

10.3

8.2

478

492

375

567

442

389

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

3Y to 5Y

Over 5Y

Assets

Liabilites

Mar-25

Dec-24

Avg. residual maturity of assets

Avg. residual maturity of borrowing

•

Positive ALM on cumulative basis with assets maturing faster than liabilities

Closing liquidity of ₹1,977 Cr as on 31 Mar 2025

* Standalone

Spandana seeing improvements in lead indicators

X-Bucket Net Collection Efficiency (%)

Recovery from 90+ (₹ Cr)

98.0%

97.8%

97.9%

97.7%

97.1%

96.7%

96.4%

98.9%

98.6%

Nov-24

Dec-24

Jan-25

Feb-25

Mar-25

X-book Net CE (%)

X-book Net CE (%) (Ex-K'taka)

Q1FY25

Q2FY25

Q3FY25

Q4FY25

Lender Overlap* - +>3 lenders reduced to 20.3% from ~23% in 3 months

23.0%

20.5%

26.5%

30.0%

Feb-25

21.0%

27.2%

30.8%

Mar-25

20.3%

21.5%

27.7%

30.5%

Apr-25

Unique

Spandana+1

Spandana+2

Spandana+>=3

* Based on Credit bureau data as of respective months

Long term goal remains intact; temporary pause in journey

Goal set out for the organization

Our assessment

Way forward

Customer acquisition led growth

• Conservative credit rules along with focus on quality borrowers to

drive medium term growth

Diversify operations

Transition to weekly model

AUM Growth

Improve Efficiencies

• North India now contributes ~22% of AUM vs. ~13% in FY22. • Graded re-assessment of all branches to be taken up • Current diversified operations to be maintained / improved going

forward

• Continue to believe in the inherent strength of the weekly model • ~14% AUM contributed by Weekly-only branches with X-bucket

Collection Efficiency of 99.3%

• ~21% disbursements to be weekly repayment loans

Industry wide challenges impacted FY25 performance • • Long term goal remains intact albeit with altered timelines

• Focus will be on improving operational efficiencies in FY26 and

beyond

• FY26 target will be to improve borrowers / LO count to ~340 from

~228 at the end of FY25.

Reimagining customer journeys with enhanced focus on JLG Key technology and process enhancements to be introduced in FY26

Process improvements

Geo fencing Village, center & member houses

Face matching Across IDs, photos of center meeting

Disbursement controls Presence of group members during application & disbursement

Liveliness checks Multiple check points at enrollment, on-boarding and disbursement

E-Sign Digital documentation with identity verification inbuilt

Monitoring enhancements

Geo location verification At various stages of CGT, house visit and GRT

Tele verification Pre-disbursement checks by BQM with digital checklists and approvals

Supervisory overview With multiple digital tools like photos, geo-tags, questionnaires

JLG Consent Form for new disbursements

Recency verification Identity documents to be verified for vintage before processing loan application

Focus in FY26 will be on serving quality borrowers

March 2025 Borrower Base Split

FY26 disbursement to follow similar trend as FY23 & FY24

96% current with SSFL

15% >30dpd with SSFL 4% Others 10% >3 lenders 20%

>30 dpd with other RE’s

51%

Eligible as per internal credit rules

Note: Eligible base as per Guardrails is 58%

Share of disbursement to Existing & New Borrowers

% of Annual Disbursement - FY23 & FY24

53%

47%

Existing

New

35%

65%

Taking a step back to build a sustainable tomorrow Rationalization of presence to have an impact on opex and efficiencies

Rationalizing distribution network & head count

Calibrated scale-back in certain markets while maintaining position in others

Borrowers per LO*

Mar-24

Mar-25

Mar-26 (P)

228

344

~340

AUM per LO* (₹ Cr)

1.2

~1.1

0.6

Mar-24

Mar-25

Mar-26 (P)

* Standalone

Grow cautiously

Maintain position

Scale back

FY25 & Q4FY25 Results

Operations consolidated in Q4FY25 owing to external factors Cautious disbursement approach and high delinquencies impact FY25 operations

Q4 FY25

Q4 FY24

YoY (%)

Q3 FY25

QoQ (%)

FY25

FY24

YoY (%)

Disbursement (₹ Cr)

365

3,970

(91)%

1,443

AUM (₹ Cr)

6,819

11,973

(43)%

8,936

Funds raised (₹ Cr)

Income (₹ Cr)

Net Interest Income (₹ Cr)

PPOP (₹ Cr)

Impairment (₹ Cr)

PAT (₹ Cr)

GNPA

NNPA

Standalone

GNPA

NNPA

473

419

197

603

(434)

3,428

703

378

259

129

(86)%

(40)%

(48)%

(90)%

592%

872

569

265

663

(563) Cr

(440)

(75)%

(24)%

(46)%

(26)%

(67)%

(9)%

6 Cr

5,605

10,688

6,819

11,973

4,482

10,441

2,424

2,511

1,228

1,289

608

1,986

(1,035)

930

259

501

(48)%

(43)%

(57)%

(3)%

(5)%

(35)%

666%

(1,536) Cr

5.63%

1.50%

+413 bps

4.85%

+78 bps

5.63%

1.50%

+413 bps

1.19%

0.30%

+88 bps

0.98%

+20 bps

1.19%

0.30%

+88 bps

4.85%

1.43%

+342 bps

4.85%

0.96%

0.29%

+68 bps

0.96%

0 bps

4.85%

1.43%

+342 bps

0.96%

0.29%

+68 bps

Customer base at ~25L

No. of customers (in L)

33.2

34.1

33.0

29.6

24.9

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Number of employees

No. of Employees

14,243

15,574

17,371

19,808

18,382

No. of Loan officers

9,653

9,873

12,578

11,994

11,144

Branch count

1,642

1,665

1,723

1,774

1,804

429

434

442

449

459

1,213

1,231

1,281

1,325

1,345

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Monthly Weekly

Total

AUM per branch (₹ Cr)

7.3

7.0

6.1

5.0

3.8

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Cautious disbursement approach adopted in wake of guardrails ₹6,819 Cr AUM at the end of FY25

AUM (₹ Cr)

11,973

11,723

10,537

8,936

6,819

Disbursement (₹ Cr)

QoQ (75) %

YoY (91)%

3,970

YoY (48) %

10,688

5,605

1,443

365

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

Q3FY25

Q4FY25*

Q4FY24

FY25

FY24

AUM Concentration of top 4 states down to 50%

Collection Efficiency (%)

57%

43%

50%

Mar-22

Mar-25

Rest of India

Top 4 States

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

99.3%

97.5%

93.7%

92.4%

91.5%

96.5%

94.0%

90.8%

90.7%

90.9%

Q4FY24

Q1FY25

Q2FY25

Q3FY25

Q4FY25

Gross CE

Net CE

* Disbursements muted in Q4FY25 as implementation of Guardrails was deferred by SRO to April 2025 while SSFL was live with credit rules in conformity with Guardrails from January 2025

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 (46)%

YoY (86)%

872

Q3 FY25

473

Q4 FY25

3,428

Q4 FY24

YoY (57)%

10,441

4,482

FY25

FY24

Diversified borrowing mix

11.7%

11.6%

11.8%

11.4%

10.8%

12.2%

11.7%

12.1%

11.9%

Q4 FY24

Q1 FY25

Cost of Borrowing

Q2 FY25

Q3 FY25 Marginal Cost of Borrowing

Q4 FY25

Borrowing Outstanding (₹ Cr)

10,208

9,386

8,659

7,494

6,240

20%

21%

57%

16%

23%

59%

23%

21%

54%

22%

21%

55%

22%

18%

57%

Mar-24

Jun-24

Sep-24

Dec-24

Mar-25

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

Consolidated

Standalone

Stage 1 (Current)

Stage 1 (1 – 30)

Stage 2 (31 – 60)

Stage 2 (61 – 90)

Stage 3 (GNPA)

NNPA

Total

5,194

82.57%

164

326

252

354

6,290

2.61%

5.19%

4.01%

5.63%

1.19%

100%

143

118

279

607

1.23%

1.27%

43.81%

47.03%

78.90%

4,552

82.75%

144

304

234

267

2.63%

5.53%

4.25%

4.85%

0.96%

100%

136

113

214

504

0.88%

44.70%

48.25%

80.17%

9.16%

9.65%

5,501

Impairment on financial instruments

Amount (₹ Cr)

Q3FY25

Q4FY25

- On technical write-off’s

- On GNPA

- On stage 1, 2 & others

- Recovery of loans written-off

Sub-total

- On Security receipts & others

Total

678

(61)

(3)

637

663

647

(39)

(56)

(17)

534

603

FY25

1,618

144

158

(28)

1,892

1,986

As a prudent measure, ₹68 Cr provision was made on

Security Receipts in Q4FY25. Excluding the impact of

this, Net Loss would have been ₹383 Cr

FY25 PPOP at ₹608 Cr impacted by lower AUM, higher opex & reversals

Income

QoQ (26) %

YoY (40) %

YoY (3) %

2,424

2,511

569

419

703

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

PPOP^

QoQ (67) %

YoY (90) %

259

YoY (35) %

930

608

Net Interest Income

QoQ (26) %

YoY (48) %

In ₹ Cr

YoY (5) %

1,228

1,289

265

Q3 FY25

197

Q4 FY25

378

Q4 FY24

FY25

FY24

PAT*

QoQ +₹6 Cr

YoY ₹(563) Cr

129

YoY ₹(1,536) Cr

501

-440 Q3 FY25 ^ PPOP including recovery from written-off loans is ₹40 Cr in Q4FY25, ₹78 Cr in Q3FY25, ₹266Cr in Q4FY24, ₹632 Cr for FY25, ₹950 Cr for FY24 * Loss excluding provisions against Security Receipts would have been ₹383 Cr

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

-434 Q4 FY25

Q4 FY24

-1,035

FY25

FY24

Yield and NIM impacted by decline in AUM and higher delinquencies Cost of borrowing at 12% for FY25

Yield (%)

Cost of Borrowing (%)

QoQ (0.4)%

YoY (3.4)%

YoY (1.7)%

QoQ (0.1)%

YoY +0.4%

YoY (0.2)%

21.1%

20.7%

24.2%

22.5%

12.2%

12.1%

11.7%

12.0% 12.2%

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

NIM (%)

Opex to AUM (%)

QoQ (0.7)%

YoY (3.9)%

14.6%

YoY (1.3)%

14.1%

12.8%

11.3%

10.7%

QoQ (0.1)%

YoY +3.4%

10.5%

10.4%

YoY +1.9%

8.6%

7.0%

6.7%

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

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 (%)

QoQ +6.6%

YoY +40.7%

78.5%

85.1%

YoY +17.1%

60.6%

44.4%

43.5%

Q3 FY25

Q4 FY25

Q4 FY24

FY25

FY24

ROA (Total Assets) (%)

QoQ (4.7)%

YoY (28.5)%

5.0%

YoY (16.2)%

5.5%

-18.9%

Q3 FY25

-23.5% Q4 FY25

Q4 FY24

-10.8%

FY25

FY24

ROA (On book POS) (%)

ROE (%)

QoQ (2.8)%

YoY (23.1)%

4.1%

YoY (13.7)%

4.5%

QoQ (8.4)%

YoY (75.3)%

14.5%

YoY (45.6)%

14.9%

-16.2% -19.0%

Q3 FY25

Q4 FY25

Q4 FY24

-9.2%

FY25

FY24

-52.4% -60.8%

Q3 FY25

Q4 FY25

Q4 FY24

-30.7% FY25

FY24

Consolidated Net-worth of ₹2,633 Cr, CRAR at 37.1%

Gearing at 2.1x (consolidated)

SSFL Standalone Net-worth & CRAR

4000

3500

3000

2500

2000

1500

1000

3,645

3,707

3,507

2.6

2.4

2.2

Mar 24

Jun 24

Sep 24

2.7

2.6

2.5

2.4

2.3

2.2

2.1

3,082

2,633

2.2

Dec 24

2.1

Mar 25

5000

4000

3000

2000

1000

35.7%

36.0%

36.3%

32.0%

32.7%

3,556

3,614

3,426

3,047

2,623

Mar 24

Jun 24

Sep 24

Dec 24

Mar 25

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

Interest on deposits with banks

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

Q4 FY25 Q3 FY25

Q4 FY24

QoQ

YoY

FY25

FY24

YoY

2,160

2,216

383

415

419

185

233

161

208

603

494

552

569

229

340

184

265

663

(578)

(143)

(434)

(588)

(147)

(440)

628

669

703

249

454

141

194

259

172

129

(22)%

(50)%

(12)%

(25)%

(79)%

(26)%

(19)%

(31)%

(13)%

28%

(47)%

(22)%

(67)%

(9)%

(39)%

(29)%

(38)%

(89)%

(40)%

(26)%

(49)%

14%

(13)%

(90)%

592%

+10 Cr

(750) Cr

(187) Cr

+4 Cr

+6 Cr

161

2,355

2,424

932

1,492

632

230

884

608

1,986

(1,379)

(344)

(563) Cr

(1,035)

162

2,401

110

2,511

927

1,584

473

160

654

930

259

671

170

501

(3)%

(1)%

54%

(2)%

(37)%

(3)%

(6)%

34%

11%

43%

35%

(35)%

666%

(2,049) Cr

(513) Cr

(1,536) Cr

Mar 31, 2025 Mar 31, 2024

LIABILITIES & EQUITY (₹ Cr)

Mar 31, 2025 Mar 31, 2024

Consolidated Balance Sheet

ASSETS (₹ Cr)

Financial Assets

Cash and bank balances

Loan Portfolio

Investments

Other financial assets

1,844

5,708

110

140

1,872

11,014

112

106

Total Financial Assets

7,802

13,104

Non-Financial Assets

Inventories

Current tax assets (net)

Deferred tax assets (net)

Property, Plant and Equipment

Intangible assets

Goodwill

Other non-financial assets

Total Non-financial assets

Total Assets

118

475

692

8,494

133

278

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

2,264

3,391

146

5,802

2,562

2,633

0.2

2,633

8,494

4,064

5,340

253

9,678

3,573

3,645

0.3

3,645

13,383

Annexure

Credit Rating

Spandana Sphoorty Financial Ltd

Rating Agency

Rating Instrument

Rating / Outlook (Current)

Rating / Outlook (31-Dec-24)

ICRA

Bank Facilities / NCD’s

A / Negative

A+ / Negative

India Ratings

Bank Facilities / NCD’s

A / Negative

A+ / Negative

CARE

Bank Facilities / NCD’s CP’s

CRISIL

Bank Facilities

A / Negative A1

A+ / Negative A1+

A- / Stable

A / Stable

Criss Financial Ltd

Rating Agency

Rating Instrument

Rating / Outlook (Current)

Rating / Outlook (31-Dec-24)

ICRA

Bank Facilities / MLD’s

A- / Negative

A / Negative

India Ratings

Bank Facilities / NCD’s

A- / Negative

A / Negative

Well diversified presence

AUM concentration* - ~49% from top 4 States

District level concentration*

% of AUM

Largest

1.8%

12%

13%

10%

11%

State

Odisha

Madhya Pradesh

Bihar

Andhra Pradesh

Karnataka

Maharashtra

West Bengal

Jharkhand

Uttar Pradesh

Chhattisgarh

Rajasthan

Gujarat

Telangana

Tamil Nadu

Other states

Mar-25 Mar-24 Mar-23 14%

15%

13%

12%

11%

10%

13%

12%

10%

17%

11%

10%

0.1%

* Standalone for SSFL

Total

100%

Top 5

8.5%

Top 10

14.0%

Top 20

22.8%

Others

77.2%

Branch level concentration*

Largest

0.3%

Top 5

1.1%

Top 10

2.0%

Top 20

3.8%

Others

96.2%

Metrics over the years

AUM (₹ Cr)

Disbursement (₹ Cr)

GNPA (%) & NNPA (%)

11,973

8,157

6,581

8,511

6,819

6,426

10,688

8,125

3,373

18.7%

5,605

10.5%

3.1%

1.4%

5.6%

2.1% 1.5% 0.6%

0.3%

1.2%

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22 GNPA (%)

FY23

FY24

FY25

NNPA (%)

Net Interest Income (₹ Cr)

PAT (₹ Cr)

1,289

1,228

907

780

810

501

145

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

-1,035

Accelerated growth delivered over last year

Customers (in L)

Employees

Customers / Branch & LO

33.2

24.5

23.5

22.6

24.9

18,382

14,243

8,644

8,763

10,016

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

2,324

2,097

1,914

2,021

432

382

343

344

2500

2000

1500

1000

500

1,383

208

FY21

FY22

FY23

FY24

FY25

Borrowers / Branch

Borrowers / LO

Loan Officers

Branches

AUM / Branch & AUM / LO

11,994

9,653

1,052

1,120

1,179

1,804

1,642

5,665

6,157

7,103

7.8

1.4

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

7.2

7.3

1.2

5.9

1.1

3.8

0.6

FY21

FY22

FY23

FY24

FY25

850

750

650

550

450

350

250

150

-50

3.0

2.5

2.0

1.5

1.0

0.5

0.0

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

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

Thank you!

Investor Relations

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

Spandana Sphoorty Financial Limited

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