SPANDANANSE14 August 2025

Spandana Sphoorty Financial Limited has informed the Exchange about Investor Presentation

Spandana Sphoorty Financial Limited

Ref: SSFL/Stock Exchange/2025-26/056

August 14, 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 ended June 30, 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 unaudited financial results of the Company for the quarter ended June 30, 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

Phad Art

Q1 FY26 Investor Presentation

Executive Summary

₹400 Cr Rights Issue (partly paid) closed successfully: • Participation in full seen from promoters and institutional investors in the rights issue • • CRAR post issue at 46%. Fresh capital to support future business growth

Institutional investors’ shareholding increased

Comfortable liquidity: • • Company well capitalized with CRAR of 40.8% as on 30 June 2025

Liquidity of ₹1,731 Cr as on 30 June 2025 to meet short and medium-term needs

Operating environment showing sings of stabilization: Top 5 states are showing improving trends amidst challenging environment • • X-bucket Collection Efficiency at 97.9% in June 2025 vs. 98.6% in March 2025 • Recovery of ₹41 Cr from GNPA / Write-off pool in Q1FY26 vs. ₹52 Cr recovery in Q4FY25

Right to play: • • • Multiple interventions introduced across process, controls and credit checks in Q1 FY26 to ensure high quality

~50% of existing & dormant customers are eligible for fresh loans after applying stricter internal credit rules ~85% of the identified customers have less than ₹1 L indebtedness

credit underwriting

• RBI’s relaxation of the Qualifying Assets criteria to 60% offers flexibility to launch customer lifecycle products,

with SSFL being compliant at the end of Jun-25

Cautious start of FY26 - a year of rebuilding: • Disbursements continued to be muted as the focus was on improving credit underwriting • AUM at the end of June 2025 was ₹4,958 Cr - QoQ decline of 27% • Standalone GNPA & NNPA was 4.88% & 0.96% at the end of June-25 vs. 4.85% & 0.96% respectively at the

end of March-25

₹400 Cr rights issue successfully closed

• Rights issue participation in full by promoter group as well as key institutional investors

• Good participation also received from retail investors

• Shareholding pattern to remain consistent post rights issue with slightly higher concentration of institutional investors

Shareholding Pattern (30-Jun-25)

Shareholding Pattern (13-Aug-25)

32.9%

48.1%

1.4%

2.4%

3.6%

3.8%

7.7%

Kedaara

Valiant

Goldman Sachs

Sigular Guff

ICICI Prudential

ACM Global Fund

Others

31.7%

48.2%

2.1%

2.9%

3.6%

3.8%

7.7%

Kedaara

Valiant

Goldman Sachs

Sigular Guff

ICICI Prudential

ACM Global Fund

Others

Equity infusion to further strengthen balance sheet

CRAR (%)

40.8%

46.0%

37.1%

Liquidity (₹ Cr)

2,030

2,018

2,063

1,731

1,502

1,590

Mar-25

Jun-25

Jun-25 Post Rights Issues

Asset distribution (30-Jun-25)

12%

26%

Cash & bank balances

Loan portfolio

Other assets

62%

Mar-25

Apr-25

May-25

Jun-25

Jul-25

Aug'25 Post Issue

Diversified borrowing mix

Borrowing Outstanding (₹ Cr)

9,386

16%

23%

59%

8,659

7,494

6,240

4,738

23%

21%

54%

22%

21%

55%

22%

18%

57%

25%

16%

55%

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Banks

NBFC

FPI

Capital Markets

Positive ALM across maturity buckets

Positive ALM (₹ Cr)*

Maturity profile* (in months)

2,309

9.4

7.8

6.7

7.4

1,424

1,384

1,279

1,153

965

882

557

431

565

369

366

612

383

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

3Y to 5Y

Over 5Y

Assets

Liabilites

•

Positive ALM on cumulative basis with assets maturing faster than liabilities

Closing liquidity of ₹1,653 Cr as on 30 Jun 2025

Jun-25

Mar-25

Avg. residual maturity of assets

Avg. residual maturity of borrowing

* Standalone

Lead indicators stable under volatile operating environment

X-Bucket Net Collection Efficiency (%)

Recovery from 90+ (₹ Cr)

98.9%

98.0% 97.9% 97.9%

97.2% 97.9% 98.0%

96.7%

97.8%

96.4%

97.7%

97.1%

98.6%

97.7% 97.9%

96.9%

98.6%

98.5%

Nov 24

Dec 24

Jan 25

Feb 25

Mar 25

Apr 25

May 25

Jun 25

Jul 25

X-book Net CE (%)

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

Q1FY25

Q2FY25

Q3FY25

Q4FY25

Q1FY26

Lender Overlap*^ - +>3 lenders reduced to 21% from 23%

Asset quality of loans disbursed under Guardrails^

23.0%

20.5%

26.5%

30.0%

Feb-25

20.3%

21.5%

27.7%

30.5%

Apr-25

21.0%

23.3%

27.9%

27.8%

Jul-25

4.4%

95.6%

100.0%

Delinquent

Current

Unique

Spandana+1

Spandana+2

Spandana+>=3

Guardrail 1+

Guardrail 2+

* Based on Credit bureau data as of respective months ^ On Standalone basis

X-bucket collection efficiency show improving trend Focused efforts to drive improvement in collection efficiency

X-bucket Collection Efficiency (%) of key States

Initiatives to improve collections

Apr-25 May-25 Jun-25

Jul-25

Andhra Pradesh

95.7% 95.7% 96.3% 97.9%

Bihar

Karnataka

97.4% 98.6% 98.4% 98.7%

93.9% 95.4% 97.2% 97.7%

Madhya Pradesh

97.3% 98.3% 98.2% 98.7%

Odisha

Overall

97.5% 98.1% 97.9% 98.8%

96.9% 97.7% 97.9% 98.5%

Forward flows

83.9%

67.8%

64.0%

79.9%

72.0%

61.2%

80.9%

70.9%

66.8%

85.0%

68.2%

67.5%

Apr-25

May-25

Jun-25

Jul-25

SMA-0 to SMA-1

SMA-1 to SMA-2

SMA-2 to GNPA

Dedicated collections team for 90+ dpd customers

Automated voice calls and tele calling

Data analytics to identify delinquent customers with higher propensity to pay

SMS with payment links to delinquent customers at regular intervals

Initiating legal actions including serving of legal notices where necessary

Maintaining agility in our operations

New interventions across customer journey

Other key interventions introduced

- Customer liveliness - LO house visit for

every loan

- Enrolment in group members’ presence

- Photo upload with

geo-tagging

- Presence of group

members

- Photo upload with

geo-tagging

- Digital questionnaire

to be submitted

- Live photo with geo- tagging & liveliness check

- 100% e-Sign

Enrolment at existing center

Quality check

CGT Stage

BM House visit

GRT Stage

System validation of Pin code & Permanent address with original KYC documents

- Time stamp with geo

tagging on photo - Geo stamping of customer house - Mandatory house

visits for every loan

Tele calling / Welcome call

Tele-calling before loan sanction

Disbursement at branch

Strengthened KYC checks

• Bank account statements over 3 months vintage only

• Accepting Voter ID’s issued prior to atleast 90 days

• Mobile number updates only after specific duration

• CSP statements not accepted

Disbursement controls

• Upfront CB checks

• Aadhar validation during enrolment

• Customers’ face match validation

Sufficient Right to play identified for building quality portfolio

Customer Base* Split – July 2025

13% >30 dpd with SSFL

37%

Ineligible as per internal business and credit rules

50%

Eligible base

96% current with SSFL

* Total base of 2.3m customers

Distribution of 50% eligible customer base by indebtedness

Household Indebtedness

<50k

50k – 1 L

1 L - 1.5 L

1.5 L – 2 L

Total

Unique 42% 3% 1% 1% 47%

Lender Overlap

Spandana+1 Spandana+2

14% 12% 4% 1% 31%

3% 10% 7% 2% 22%

Distribution of 50% eligible customer base by vintage

Customer vintage

<1 years

1 to <2 years

2 to <3 years

3 to <4 years

4 to <5 years

5 and Above years

Total

Unique 1%

13%

17%

47%

Lender Overlap

Spandana+1 Spandana+2

10%

11%

31%

22%

Total

59% 25% 12% 4% 100%

Total

31%

18%

35%

100%

Q1FY26

Cautious disbursement approach leads to decline in AUM

Disbursement (₹ Cr)

AUM (₹ Cr)

Income (₹ Cr)

Net Interest Income (₹ Cr)

PPOP (₹ Cr)

Impairment (₹ Cr)

PAT (₹ Cr)

GNPA

NNPA

Standalone

GNPA

NNPA

Q1 FY26

Q1 FY25

YoY (%)

Q4 FY25

QoQ (%)

280

4,958

304

113

(59)

422

(360)

5.49%

1.15%

4.88%

0.96%

2,283

11,723

734

425

284

209

2.60%

0.53%

2.60%

0.52%

(88)%

(58)%

(59)%

(73)%

(343) Cr

102%

(416) Cr

+290 bps

+62 bps

+228 bps

+44 bps

365

6,819

419

197

603

(434)

5.63%

1.19%

4.85%

0.96%

(23)%

(27)%

(43)%

(84) Cr

(30)%

+74 Cr

(14) bps

(4) bps

+4 bps

0 bps

Customer base at ~20L Branch and manpower rationalization to drive efficiencies

No. of customers (in L)

Branch count

34.1

33.0

29.6

24.9

20.4

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

1,665

434

1,723

1,774

1,804

442

449

459

1,720

433

1,231

1,281

1,325

1,345

1,287

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Monthly Weekly

Total

Number of employees

AUM per branch (₹ Cr)

No. of Employees

15,574

17,371

No. of Loan officers

11,144

9,873

19,808

12,578

18,382

15,574

11,994

8,859

7.0

6.1

5.0

3.8

2.9

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Pick-up in disbursement to address FY26 AUM growth ₹4,958 Cr AUM at the end of Q1FY26

AUM (₹ Cr)

11,723

10,537

8,936

6,819

4,958

Disbursement (₹ Cr)

365

280

268

Jun-24

Sep-24

Dec-24

Mar-25

Jun-25

Q4FY25

Q1FY26

July'25

AUM Concentration of top 4 states down to 51%

Collection Efficiency (%)

57%

43%

51%

49%

Mar-22

Jun-25

Rest of India

Top 4 States

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

97.5%

94.0%

93.7%

92.4%

91.5%

91.1%

90.8%

90.7%

90.9%

90.6%

Q1FY25

Q2FY25

Q3FY25

Q4FY25

Q1FY26

Gross CE

Net CE

120.0%

100.0%

80.0%

60.0%

40.0%

20.0%

0.0%

PCR maintained at ~80%

Consolidated

Standalone

Asset Classification

Loans Outstanding (₹ Cr)

% of Loans Outstanding

ECL Provision (₹ Cr)

Coverage

Loans Outstanding (₹ Cr)

% of Loans Outstanding

ECL Provision (₹ Cr)

Coverage

Stage 1 (Current)

Stage 1 (1 – 30)

Stage 2 (31 – 60)

Stage 2 (61 – 90)

Stage 3 (GNPA)

Total

NNPA

3,813

83.5%

144

169

192

251

4,569

3.2%

3.7%

4.2%

5.5%

100%

1.2%

198

413

1.3%

1.4%

43.1%

46.8%

79.1%

9.0%

3,231

83.8%

119

147

172

188

3,857

3.1%

3.8%

4.4%

4.9%

100%

0.96%

151

331

0.9%

44.8%

48.7%

80.4%

8.6%

Impairment on financial instruments

Amount (₹ Cr)

Q1FY26

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

642

(81)

(119)

(19)

422

647

(39)

(56)

(17)

534

603

As a prudent measure, additional credit cost of ₹131 Cr recognised in Q1FY26 due to technical write-off. Excluding this, impairment cost would have been ₹291 Cr

PPOP impacted by lower AUM & Interest reversals

Income

Net Interest Income

In ₹ Cr

QoQ (27) %

YoY (59) %

QoQ (43) %

YoY (73) %

PPOP

419

Q4 FY25

304

Q1 FY26

QoQ ₹(84) Cr

YoY ₹(343) Cr

-59

Q1 FY26

734

Q1 FY25

284

Q1 FY25

197

Q4 FY25

113

Q1 FY26

PAT

QoQ +₹74 Cr

YoY ₹(416) Cr

-434

Q4 FY25

-360

Q1 FY26

425

Q1 FY25

Decline in AUM and higher delinquencies impact ratios Cost of borrowing at 12.3% for Q1FY26

Yield (%)

Cost of Borrowing (%)

QoQ (1.4)%

YoY (5.0)%

24.4%

20.7%

19.4%

QoQ +0.2%

YoY +0.7%

12.1%

12.3%

11.6%

Q4 FY25

Q1 FY26

Q1 FY25

Q4 FY25

Q1 FY26

Q1 FY25

NIM (%)

Opex to AUM (%)

QoQ (2.5)%

YoY (6.9)%

10.7%

Q4 FY25

8.2%

Q1 FY26

15.2%

Q1 FY25

QoQ +3.5%

YoY +7.5%

14.0%

10.5%

Q4 FY25

Q1 FY26

6.5%

Q1 FY25

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

Cost to income (%)

ROA (on book POS) (%)

QoQ +54.0%

YoY +98.9%

139.1%

85.1%

Q4 FY25

Q1 FY26

40.2%

Q1 FY25

QoQ (2.6)%

YoY (28.1)%

-23.5%

Q4 FY25

-26.1%

Q1 FY26

ROA (Total Assets) (%)

ROE (%)

QoQ (0)%

YoY (20.7)%

QoQ +2.4%

YoY (64.5)%

1.7%

Q1 FY25

-19.0% Q4 FY25

-19.0% Q1 FY26

-60.8% Q4 FY25

-58.5%

Q1 FY26

2.0%

Q1 FY25

6.1%

Q1 FY25

Consolidated Net-worth of ₹2,289 Cr, CRAR at 40.8%

Gearing at 1.9x (consolidated)

SSFL Standalone Net-worth & CRAR

6000

5000

4000

3000

2000

1000

3,707

3,507

3,082

2.4

2.2

Jun 24

Sep 24

Dec 24

2,633

2,289

2.1

Mar 25

1.9

Jun 25

3.5

2.5

1.5

5000

4000

3000

2000

1000

35.7%

36.0%

36.3%

36.9%

32.7%

3,614

3,426

3,047

2,623

2,309

Jun 24

Sep 24

Dec 24

Mar 25

Jun 25

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

Net-worth (₹ Cr)

Gearing (x)

Net-worth (₹ Cr)

CRAR (%)

Standalone CRAR at 43% post rights issue

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

Q1 FY26

Q4 FY25

Q1 FY25

QoQ

YoY

267

300

304

154

150

146

209

(59)

422

(481)

(121)

(360)

383

415

419

185

233

161

208

603

(578)

(143)

(434)

685

707

734

259

475

135

191

284

209

(30)%

(29)%

102%

(28)%

(4)%

(27)%

(17)%

(36)%

(9)%

(41)%

(47)%

(84) Cr

(30)%

+97 Cr

+23 Cr

+74 Cr

(61)%

27%

82%

(57)%

(86)%

(59)%

(41)%

(68)%

(4)%

14%

10%

(343) Cr

102%

(556) Cr

(140) Cr

(416) Cr

Jun 30, 2025 Mar 31, 2025

LIABILITIES & EQUITY (₹ Cr)

Jun 30, 2025 Mar 31, 2025

Consolidated Balance Sheet

ASSETS (₹ Cr)

Financial Assets

Cash and bank balances

Loan Portfolio

Investments

Other financial assets

1,553

4,176

127

1,844

5,708

110

140

Total Financial Assets

5,954

7,802

Non-Financial Assets

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

106

591

785

6,739

118

475

692

8,494

Financial Liabilities

Debt Securities

Borrowings (Other than Debt Securities)

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

1,694

2,611

4,401

2,217

2,289

0.2

2,289

6,739

2,264

3,391

146

5,802

2,562

2,633

0.2

2,633

8,494

Annexure

Credit Rating

Spandana Sphoorty Financial Ltd

Rating Agency

Rating Instrument

CARE

ICRA

Bank Facilities / NCD’s CP’s

Bank Facilities / NCD’s

Rating / Outlook (Current)

Rating / Outlook (31-Mar-25)

A- / Stable A2+

A / Negative A1

A- / Negative

A / Negative

India Ratings

Bank Facilities / NCD’s

A- / Negative

A / Negative

CRISIL

Bank Facilities

BBB+ / Stable

A- / Stable

Criss Financial Ltd

Rating Agency

Rating Instrument

Rating / Outlook (Current)

Rating / Outlook (31-Mar-25)

ICRA

Bank Facilities / MLD’s

BBB+ / Negative

A- / Negative

India Ratings

Bank Facilities / NCD’s

BBB+ / Negative

A- / Negative

Well diversified presence

AUM concentration* - ~49% from top 4 States

District level concentration*

% of AUM

Largest

2.0%

14%

11%

13%

12%

State

Madhya Pradesh

Odisha

Andhra Pradesh

Bihar

Karnataka

Maharashtra

West Bengal

Jharkhand

Uttar Pradesh

Chhattisgarh

Rajasthan

Gujarat

Telangana

Tamil Nadu

Other states

Jun-25 Mar-25 Mar-24 13%

14%

13%

12%

11%

13%

11%

12%

10%

14%

10%

12%

10%

* Standalone for SSFL

Total

100%

Top 5

9.1%

Top 10

14.8%

Top 20

23.0%

Others

77.0%

Branch level concentration*

Largest

0.3%

Top 5

1.2%

Top 10

2.3%

Top 20

3.9%

Others

96.1%

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

Metrics over the years

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)

Net Interest Income

Net Interest Margin

Pre-Provision Operating Profit

Cost to Income

Portfolio Outstanding

Assets Under Management

Abbreviation

Definition

Yield

COB

NII

NIM

PPOP

C / I

POS

AUM

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

Interest income on loans less finance cost

Net Interest Income divided by average monthly loan outstanding

Total Income minus finance cost minus operating expenses

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!

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