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Ugro Capital Rating Reaffirmed at 'A'; Profectus Acquisition to Boost AUM to ₹15,400 Cr
Acuité Ratings has reaffirmed and withdrawn the 'ACUITE A' rating for ₹156.28 Cr of NCDs following redemption and issuer request. More importantly, the rating has been removed from 'Rating Watch' as Ugro Capital successfully completed the acquisition of Profectus Capital, which brings an AUM of ~₹3,400 Cr. The combined entity is expected to reach an AUM of ₹15,400 Cr, representing a 29% growth with a more robust 75% secured asset mix. While asset quality has improved with GNPA at 2.35%, the company's return on average assets (RoAA) remains moderate at 1.86%.
Key Highlights
Acquisition of Profectus Capital completed, projected to increase total AUM by 29% to ₹15,400 Cr.
On-book GNPA improved to 2.35% as of March 31, 2025, compared to 3.09% in the previous year.
Combined entity asset mix to shift towards 75% secured and 25% unsecured loans for better diversification.
Planned equity raise of ₹1,315 Cr for FY2026 via rights issue and Compulsorily Convertible Debentures (CCDs).
FY2025 PAT reported at ₹143.93 Cr with a moderate RoAA of 1.86% and gearing at 3.37 times.
💼 Action for Investors
The completion of the Profectus acquisition is a major milestone that improves the company's scale and asset quality profile. Investors should monitor the integration process and look for improvements in the RoAA as the combined entity scales.