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Raama Finance Ltd (538540)

📊 BSE: 538540 🏢 Non Banking Financial Company (NBFC) 📢 Latest filing: 07 Oct 2026

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Raama Finance's net interest income was ₹9.5 Cr, and net profit ₹2.6 Cr.

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Net interest income	₹9.5	—	+356.0%
Net profit	₹2.6	—	+748.4%
EPS (₹)	0.32	—	+700.0%

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Raama Finance Statutory Auditor Resigns Citing Resource Constraints

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 07 Oct 2026, 04:11 PM

M/s. Goyal Nagpal and Co., Chartered Accountants, has resigned as the statutory auditor of Raama Finance Ltd with effect from October 06, 2026. The auditor was originally appointed on September 01, 2025, with a term running until March 31, 2028. The reason cited is an inability to devote requisite resources, supervision, and professional attention due to internal staffing constraints. The auditor confirmed no other material reasons or lack of information from management.

Auditor Goyal Nagpal and Co. resigned effective October 06, 2026
Term was originally scheduled to expire on March 31, 2028, after being appointed on September 01, 2025
Latest limited review report was submitted on August 14, 2026, for the quarter ended June 30, 2026
Firm cited constraints in the availability of adequate experienced professional staff as the reason

💡 Track the appointment of a new statutory auditor and ensure no delay occurs in reviewing the upcoming quarterly financial results.

Raama Finance Concludes 33rd AGM; 59 Members Attend

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Sep 2026, 05:57 PM

Raama Finance Limited conducted its 33rd Annual General Meeting on September 30, 2026, through video conferencing. A total of 59 members attended the meeting, where ordinary resolutions including adoption of FY26 financial statements and the reappointment of retiring director Mr. Akhil Mittal were tabled. The remote e-voting took place from September 27 to September 29, 2026, alongside an additional voting window during the AGM. Formal scrutinizer results are awaited to confirm the voting outcome.

33rd Annual General Meeting held on September 30, 2026, from 04:08 PM to 04:50 PM IST
Total of 59 members attended the meeting (18 via VC/OAVM and 41 in meeting)
Remote e-voting held between September 27, 2026, and September 29, 2026
Ordinary business included adoption of FY26 financial statements and reappointment of director Mr. Akhil Mittal

💡 Track the upcoming disclosure of the scrutinizer report and formal voting results on BSE to verify the adoption of tabled resolutions.

Raama Finance Discloses Q1 FY27 PAT of ₹4.35 Cr on ₹21.31 Cr Revenue in Investor Deck

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 25 Sep 2026, 06:24 PM

Raama Finance released its investor presentation detailing a pivot into digital salaried lending via its 'FastSalary' app. For Q1 FY27, total income surged 120% quarter-on-quarter to ₹21.31 Cr (₹2,130.75 Lakhs), exceeding the entire FY26 revenue of ₹12.13 Cr. Net profit for Q1 FY27 stood at ₹4.35 Cr (up 66% QoQ from ₹2.63 Cr in Q4 FY26), driven by loan disbursals of over ₹43 Cr. The company highlights an average ticket size of ₹45,000 with 70% repeat monthly usage across 6,700+ pin codes.

Q1 FY27 total income reached ₹21.31 Cr, up 120% QoQ vs ₹9.69 Cr in Q4 FY26
Q1 FY27 PAT rose to ₹4.35 Cr vs ₹2.63 Cr in Q4 FY26 and ₹0.07 Lakhs in Q1 FY26
Total loan disbursals exceeded ₹43 Cr in Q1 FY27 across 10,373 processed loan applications
Average loan ticket size stood at ₹45,000 with tenors of 30–60 days and a 70% repeat usage rate

💡 Track whether this exponential loan disbursal growth is sustained in upcoming quarterly financial filings and watch asset quality/NPA trends in short-tenor unsecured digital lending.

Raama Finance Raises ₹4.61 Cr via 20% NCDs, Allots 97 Lakh Shares on Warrant Conversion

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 22 Sep 2026, 07:19 PM

Raama Finance has allotted 4,610 unlisted, unrated, secured NCDs aggregating to ₹4.61 crore at a steep coupon rate of 20% p.a. for an 18-month tenure. Simultaneously, the company allotted 97,00,000 equity shares upon conversion of warrants at ₹4.80 each, receiving the balance consideration of ₹3.49 crore (total ₹4.66 crore), expanding paid-up capital from 8.12 crore to 9.09 crore shares. Additionally, Managing Director Rajesh Singh Kaira stepped down and has been redesignated as a Non-Executive, Non-Independent Director.

Allotment of 4,610 unlisted, unrated, secured NCDs worth ₹4.61 crore carrying a high coupon of 20% p.a.
Conversion of 97,00,000 warrants at ₹4.80 per share, raising ₹3.49 crore in balance remittance (total ₹4.66 crore)
Paid-up equity share capital increases from 8,11,62,000 shares to 9,08,62,000 shares
Managing Director Rajesh Singh Kaira relinquishes executive role, redesignated as Non-Executive Director
Remaining warrants pending conversion post-allotment stand at 2,83,00,000 warrants

💡 Track the deployment of newly raised funds against the steep 20% borrowing cost, along with the announcement of a new Managing Director and the conversion timeline of the remaining 2.83 crore warrants.

Raama Finance Approves ₹5 Cr NCD Issue at 20% Coupon and Appoints New CEO

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 22 Sep 2026, 03:25 PM

Raama Finance Ltd's Board approved the issuance of unlisted, unrated, secured NCDs worth ₹5.00 crore out of a broader ₹100 crore limit approved by shareholders. The debentures carry a very high coupon rate of 20% p.a. payable monthly, with an 18-month tenure and 125% asset coverage over receivables. In parallel, the company appointed seasoned retail lending professional Jitendar Prasad as Chief Executive Officer.

Approved issue of ₹5.00 crore unlisted, unrated secured NCDs (5,000 NCDs of face value ₹10,000 each)
High coupon rate of 20% p.a. payable monthly over an 18-month tenure
Asset cover of 125% maintained over receivables with Catalyst Trusteeship appointed as trustee
Appointed Jitendar Prasad as CEO, who previously managed ₹18,200 crore mortgage AUM across top lenders

💡 Track the deployment of funds into higher-yielding assets to offset the 20% borrowing cost, along with subsequent tranches under the ₹100 crore borrowing limit.

₹54.72 Cr Fundraise: Raama Finance Reports Zero Deviation in Warrant Proceeds Utilization

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 13 Aug 2026, 07:05 PM

Raama Finance has confirmed zero deviation in the utilization of funds raised through a preferential issue of warrants for the quarter ended June 30, 2026. The company has received and fully utilized ₹13.68 Cr, representing the initial 25% of the total ₹54.72 Cr issue size. This capital infusion is highly significant, representing approximately 188% of the company's net worth (₹29 Cr) and 36% of its market capitalization. The funds are designated for business expansion, intangible assets, and general corporate purposes.

Total preferential issue size of ₹54.72 Cr approved at an issue price of ₹4.80 per warrant.
Initial 25% of the issue size, amounting to ₹13.68 Cr, was received on March 17, 2026.
Audit Committee confirmed 100% utilization of the received ₹13.68 Cr with zero deviation from stated objects.
The total fundraise amount is nearly 4.5x the company's TTM revenue of ₹12.13 Cr.
Objects of the issue include business expansion and capital expenditure towards intangible assets.

💡 Investors should monitor the company's quarterly interest income and AUM growth to see how effectively this new capital is being deployed into the lending book.

Raama Finance Appoints Mr. Manish as CFO and Key Managerial Personnel

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 13 Aug 2026, 06:40 PM

Raama Finance Ltd has appointed Mr. Manish as Chief Financial Officer (CFO) effective August 13, 2026. The appointee brings over 8 years of experience in finance, accounting, and NBFC operations, which is critical as the company scales from a low base. This management addition follows a significant jump in annual revenue from ₹0.38 Cr in FY25 to ₹12.13 Cr in FY26. The new CFO will oversee financial reporting, statutory audits, and regulatory compliance.

Appointment of Mr. Manish as CFO and Key Managerial Personnel effective August 13, 2026
New CFO brings over 8 years of professional experience in finance and NBFC operations
Company reported a significant revenue increase to ₹12.13 Cr in FY26 compared to ₹0.38 Cr in FY25
Promoter holding has stabilized at 54.93% as of March 2026, up from 11.5% in September 2025

💡 Investors should monitor the consistency and quality of quarterly financial disclosures under the new CFO, especially given the company's recent rapid revenue growth and high P/E ratio of 48.7.

₹21.31 Cr Q1 Revenue: Raama Finance PAT Surges 65% QoQ, Surpassing Full Year FY26

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Aug 2026, 06:26 PM

Raama Finance reported a massive scale-up in Q1 FY27, with total revenue reaching ₹21.31 Cr, a 120% increase from ₹9.69 Cr in Q4 FY26. Net profit for the quarter stood at ₹4.35 Cr, which already exceeds the total profit for the entire previous financial year (₹3.24 Cr). The growth is primarily driven by interest income of ₹17.43 Cr, although other expenses remained high at ₹11.89 Cr. This performance represents a significant departure from the company's historical scale, where Q1 FY26 revenue was only ₹0.17 Cr.

Total Revenue of ₹21.31 Cr in Q1 FY27, which is 1.76x the total TTM revenue of ₹12.13 Cr
Net Profit of ₹4.35 Cr for the quarter, a 65.7% increase over the ₹2.63 Cr reported in Q4 FY26
Interest income surged to ₹17.43 Cr from ₹8.60 Cr in the previous quarter
Basic EPS for the quarter rose to ₹0.54, compared to ₹0.00 in the year-ago period
Total expenses stood at ₹14.71 Cr, with 'Other Expenses' accounting for ₹11.89 Cr

💡 Monitor the sustainability of these high yields and the quality of the underlying loan book (NPAs), as the company is expanding rapidly from a very small base following a recent change in promoter holding.

Raama Finance Q1 FY27 PAT jumps to ₹4.35 Cr; Revenue exceeds previous full year

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Aug 2026, 05:56 PM

Raama Finance reported a massive surge in its Q1 FY27 results, with total revenue reaching ₹21.31 Cr, a significant jump from just ₹0.17 Cr in the same quarter last year. The quarterly revenue alone is approximately 175% of the total revenue generated in the entire previous financial year (FY26: ₹12.13 Cr). Net profit for the quarter stood at ₹4.35 Cr compared to a negligible ₹0.0008 Cr YoY. The company also strengthened its leadership by appointing Mr. Manish Bhati as the Chief Financial Officer.

Total Revenue from operations surged to ₹21.31 Cr in Q1 FY27 from ₹0.17 Cr in Q1 FY26.
Net Profit for the quarter reached ₹4.35 Cr, surpassing the total FY26 annual profit of ₹3.24 Cr.
Interest Income was the primary driver, contributing ₹17.43 Cr to the total revenue.
Basic Earnings Per Share (EPS) improved significantly to ₹0.54 from ₹0.00 YoY.
Appointment of Mr. Manish Bhati as Chief Financial Officer effective August 13, 2026.

💡 Investors should monitor the sustainability of this sudden revenue spike in upcoming quarters and check for any changes in the loan book or lending segments that triggered this growth.

Raama Finance Board Meeting on Aug 13 to Approve Q1 Results and Appoint CFO

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 10 Aug 2026, 01:38 PM

Raama Finance Ltd has scheduled a board meeting for August 13, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The board will also consider the appointment of a Chief Financial Officer (CFO), a key management role for the company. This meeting follows a year of significant growth, where FY26 revenue surged to ₹12.13 Cr from just ₹0.38 Cr in FY25. Investors will be looking for consistency after the company reported a high revenue of ₹9.69 Cr in the March 2026 quarter alone.

Board meeting scheduled for August 13, 2026, to review Q1 FY27 performance.
Appointment of a Chief Financial Officer (CFO) is on the agenda for board approval.
Company reported a massive revenue jump to ₹12.13 Cr in FY26 compared to ₹0.38 Cr in FY25.
Promoter holding has significantly increased to 54.93% as of March 2026 from 11.5% in September 2025.
The board will also review the statement of deviation and variation for the quarter ended June 30, 2026.

💡 Watch for the Q1 FY27 earnings release on August 13 to verify if the revenue momentum from Q4 FY26 (₹9.69 Cr) is sustainable and to assess the credentials of the new CFO.

Raama Finance CFO Mr. Suman Bhattarai Resigns Effective August 07, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 08 Aug 2026, 04:15 PM

Raama Finance Ltd has announced the resignation of its Chief Financial Officer (CFO), Mr. Suman Bhattarai, effective from the close of business on August 07, 2026. This management change occurs as the company scales significantly, with FY26 revenue reaching ₹12.13 Cr compared to just ₹0.38 Cr in FY25. The company, a small NBFC with a market cap of ₹168 Cr, has also seen a major shift in promoter holding from 11.5% to 54.93% over the past year. Investors should monitor the appointment of a successor to ensure continuity in financial oversight during this high-growth phase.

CFO Mr. Suman Bhattarai resigned effective August 07, 2026.
Company reported a massive revenue jump to ₹12.13 Cr in FY26 from ₹0.38 Cr in FY25.
Promoter holding has significantly increased to 54.93% as of March 2026.
The stock has delivered a 330.5% return over the last 12 months.
Current TTM PAT stands at ₹3 Cr with a high P/E ratio of 54.9.

💡 Monitor the company's announcement regarding the appointment of a new CFO and check for any impact on financial reporting timelines or internal controls in upcoming quarterly results.

9.62% Promoter Stake Pledged to Secure Term Loan from Mufin Green Finance

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 04 Aug 2026, 10:39 AM

Promoters Akhil Mittal and Pratika Sharma have pledged a combined 78,12,500 shares of Raama Finance Ltd, representing 9.62% of the total share capital. The pledge was created on July 31, 2026, in favor of Mufin Green Finance Limited to secure a term loan taken by the company itself. This indicates the company is leveraging promoter equity to raise debt capital, a significant move for a firm with a TTM revenue of just Rs 12 Cr. Investors should note that while the funds are for the company, the increased encumbrance adds a layer of risk to the promoter holding.

Total of 78,12,500 shares (9.62% of total capital) pledged by two promoters on July 31, 2026
Pledge created specifically to secure a term loan taken by Raama Finance Ltd from Mufin Green Finance Limited
Individual promoters Akhil Mittal and Pratika Sharma each pledged 39,06,250 shares (4.81% each)
Post-event, the encumbered shares represent approximately 17.5% of the total promoter holding of 54.93%
The company recently saw a massive revenue jump to Rs 9.69 Cr in Mar 2026 from negligible levels in previous quarters

💡 Monitor the company's upcoming quarterly results to see how the new debt capital is being deployed and if it translates into higher interest costs or improved lending book growth.

9.62% Promoter Stake Pledged to Secure Term Loan from Mufin Green Finance

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 03 Aug 2026, 06:33 PM

Promoters Akhil Mittal and Pratika Sharma have pledged a combined 78,12,500 shares of Raama Finance Ltd, representing 9.62% of the company's total share capital. The pledge was created on July 31, 2026, in favor of Mufin Green Finance Limited to secure a term loan taken by the company itself. With a total promoter holding of 54.93%, this transaction encumbers approximately 17.5% of the promoters' total stake. This move provides the NBFC with capital for operations but introduces the risk associated with share encumbrance.

Total of 78,12,500 shares pledged by two promoters on July 31, 2026
Pledged shares represent 9.62% of the company's total share capital
Pledge created in favor of Mufin Green Finance Limited for a term loan taken by the company
Promoter Akhil Mittal pledged 39,06,250 shares (4.81% of total capital)
Promoter Pratika Sharma pledged 39,06,250 shares (4.81% of total capital)

💡 Investors should monitor the company's upcoming quarterly results to see how the new debt capital is being deployed into the loan book and track any further disclosures regarding the specific loan amount or interest terms.

Raama Finance crosses ₹25 Cr Net Worth; triggers mandatory SEBI Corporate Governance compliance

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 27 Jul 2026, 04:47 PM

Raama Finance Ltd has announced that its net worth exceeded the ₹25 crore threshold as of March 31, 2026, reaching approximately ₹29 crore. Under SEBI (LODR) Regulation 15(2), the company is no longer exempt from stricter corporate governance standards, including board composition and committee requirements. The company has until September 30, 2026, to ensure full compliance with Regulations 17 to 27. This transition follows a period of rapid growth, with TTM revenue reaching ₹12 crore and a 358% stock price increase over the last year.

Net worth crossed the ₹25 crore threshold as of March 31, 2026
Paid-up share capital stood at ₹8,11,62,000 as of the same date
Compliance with Regulations 17 to 27 must be ensured by September 30, 2026
Reporting on compliance will begin from the quarter ending September 30, 2026
TTM revenue has scaled to ₹12 crore from just ₹0.38 crore in FY25

💡 Monitor the company's upcoming appointments of independent directors and the formation of mandatory committees (Audit, NRC) by the September 30 deadline to ensure governance standards are met.

₹5 Cr Term Loan Secured from Mufin Green Finance for Onward Lending

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 23 Jul 2026, 01:25 PM

Raama Finance Ltd has entered into a term loan agreement for ₹5.00 crore with Mufin Green Finance Limited to support its onward lending business. The loan is significant for the company, representing approximately 42% of its TTM revenue of ₹12 crore. To secure the facility, promoters Akhil Mittal and Pratika Sharma have agreed to a share pledge equivalent to 2.5 times the loan value. The agreement includes restrictive covenants requiring lender approval for any major structural or management changes.

Secured a ₹5.00 crore term loan specifically for onward lending purposes.
Promoters to provide a share pledge equivalent to 2.5 times the loan value (approx. ₹12.5 crore).
Exclusive charge on present and future receivables maintained at 120% of the loan principal.
Loan amount represents ~41.7% of the company's TTM revenue of ₹12 crore.
Restrictive covenants require lender consent for mergers, acquisitions, or material management changes.

💡 Investors should monitor the company's quarterly interest income growth to see how effectively this ₹5 crore is deployed into the loan book. Additionally, track the promoter pledge levels as the 2.5x requirement is substantial relative to the loan size.

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