Finkurve Financial Services Ltd

- The transcript does not explicitly mention any current or immediate plans for new fundraising through debt or equity. - CFO Aakash Jain highlighted that despite an equity infusion of Rs. 111 crores in May, leverage currently stands at 1.67x, indicating significant headroom for additional borrowing. - Management targets a leverage ratio of 3x to 4x on-book AUM, suggesting plans to increase debt in the future as the business grows. - Equity raises were referenced historically but no clear future equity fundraising plan was disclosed. - The company emphasizes growth driven by leveraging (debt) rather than equity dilution, aiming for balanced bank, financial institution borrowings, and NCDs with a target mix of approximately one-third NCDs and two-thirds bank/FI borrowings. - Overall, future debt raising is implied as part of growth strategy, but no formal fundraising announcement is currently indicated.

- Finkurve plans steady growth aligned with its annual operating plan. - Branch expansion is a key focus—26 branches added YTD last year; target to continue similar or higher expansion. - Growth approach will be profitable and risk-adjusted, avoiding aggressive or unchecked expansion. - Technology stack is fully in-house and largely built out; incremental tech costs due to branch expansion are minimal. - Continuous investments will be made in risk control, operating efficiency, and customer experience enhancements. - Exact quantification of incremental tech investment is not ready but may be shared in the future. - Strategic investments prioritize scalable, technology-enabled infrastructure to support rapid growth without compromising control.

- Finkurve expects AUM (assets under management) growth of 40% to 50% over the next 1 to 1.5 years, driven by branch expansion and new customer acquisition. - Branch network is planned to grow by 40% to 50%, targeting 50 to 60 new branches in the current year as per the annual operating plan. - Revenue growth has been strong with a 31% year-on-year increase; the company focuses on disciplined, risk-adjusted expansion without aggressive pricing or relaxed underwriting. - Interest income growth is prioritized with a shift from short-term high-churn products to longer tenure loans, aiming to stabilize and spread fees over time. - Management's guidance is directional rather than specific numerical targets, intending to provide more detailed guidance as business matures. - The company aims to maintain a healthy yield (~19.5%) and leverage ratio (targeting 3x to 4x) to support scalable and sustainable revenue growth.

- Finkurve expects near-term AUM expansion in the range of 40% to 50% annually. - Branch expansion target is also around 40% to 50%, with 50 to 60 new branches planned this year. - Operating leverage is anticipated as branches mature and scale increase, improving expense ratios over time. - The company aims for steady and profitable growth, avoiding aggressive pricing or relaxed underwriting. - ROE currently at 8%-9% and ROA at about 3.5%-4% are expected to improve as leverage increases towards an industry range of 3-4x. - NIM is currently high due to low leverage but expected to normalize with increased borrowing and operational scale. - No precise earnings/profit/EPS guidance was provided, but growth and profitability are expected to improve steadily with scale and operating efficiencies.

The transcript does not specifically mention the current or expected order book or pending orders for Finkurve Financial Services Limited. The discussion primarily covers: - AUM (Assets Under Management) growth, which was 118% year-on-year reaching Rs. 833 crores as of Q3 FY26. - Branch expansion plans targeting 40%-50% growth in branches, aiming to open 50-60 new branches in the current year. - Targets on balance sheet leverage increasing from 1.67x toward 3-4x to support growth. - Co-lending expected to form 10%-15% of overall AUM. - No explicit commentary on order books or pending orders as the company operates in the financial services sector focused on gold loans and lending portfolios. If you require details on loan pipelines or booked/refinance orders, that information was not discussed on the call.