My Mudra Fincorp Limited (MYMUDRA)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, My Mudra's revenue was ₹59.0 Cr (+25.5% year on year, +1.7% on the previous half-year), and net profit ₹7.0 Cr (+16.7% year on year); the operating margin was 16.9%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹59.0 | +25.5% | +1.7% |
| Operating profit | ₹10.0 | +11.1% | +25.0% |
| Net profit | ₹7.0 | +16.7% | +40.0% |
| EPS (₹) | 5.82 | +8.0% | +23.6% |
| Operating margin | 16.9% | — | — |
MYMUDRA delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 75.0% of the MYMUDRA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 82.06%. That is close to its usual level. Turnover was only ₹19 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal. It closed at a price band (circuit) on 1 session in about the last 20. 1 bulk or block deal was reported in MYMUDRA in the last 60 days: ₹0.82 Cr bought, none sold.
Delivery in the last 5 sessions: 94.7% · 63.5% · 53.3% · 100.0% · 75.0%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 7 Oct | Buy | Roopesh Talwar | ₹0.82 Cr | ₹90.93 | 90,000 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
My Mudra Fincorp Limited announced the resignation of Mr. Madan Sardar from the position of Whole Time Director, effective October 09, 2026, after the close of business hours. Mr. Sardar cited personal reasons for his departure and confirmed there are no other material reasons. The company has a TTM revenue base of Rs 198 Cr and TTM PAT of Rs 21 Cr. Board continuity and operational management will be monitored following this executive exit.
- Resignation of Whole Time Director Mr. Madan Sardar (DIN: 11865424) effective October 09, 2026
- Departure is stated as being solely due to personal reasons with no other material reasons confirmed
- Resignation takes effect after close of business hours on October 09, 2026
My Mudra Fincorp Limited has received required regulatory approvals to integrate with the Bharat Bill Payment System (BBPS) / Bharat Connect, operated under NPCI Bharat BillPay Limited and RBI oversight. This platform integration allows the company to add utility payments, loan EMIs, FASTag, credit card bills, and AutoPay services alongside its core lending and insurance distribution. While no direct financial outlay or near-term revenue potential was disclosed, it aligns with their strategy to expand digital offerings and cross-sell to existing borrowers. Financially, the company has an annualized TTM revenue of ₹198 Cr and TTM PAT of ₹21 Cr.
- Received approvals to integrate with Bharat Bill Payment System (BBPS) / Bharat Connect via NPCI Bharat BillPay Limited framework on October 09, 2026
- Expands service offerings beyond lending and insurance to utility bills, loan EMIs, FASTag, and education fees
- Adds automated features including recurring payments (AutoPay), bill fetching, and digital payment reminders
- Integration is asset-light, complementary to existing TTM revenue of ₹198 Cr with financial details not disclosed
My Mudra Fincorp's Board approved the incorporation of a wholly-owned subsidiary, tentatively named My Mudra Payment Limited. The subsidiary will focus on digital payments, including Payment Gateway and Payment Aggregator services, subject to RBI authorization. The initial paid-up capital is Rs 5,00,000 (Rs 0.05 crore) across 50,000 equity shares of Rs 10 each, with an authorized capital of Rs 1,00,00,000. Compared to TTM revenue of Rs 198 crore and net worth of Rs 65 crore, the immediate capital outlay is nominal, but entry into payments represents a strategic diversification.
- Board approved incorporation of 100% subsidiary 'My Mudra Payment Limited'
- Proposed authorized share capital is Rs 1,00,00,000; paid-up capital is Rs 5,00,000
- To undertake Payment Aggregator and Payment Gateway activities, requiring RBI authorization
- 100% cash consideration via subscription to 50,000 equity shares of Rs 10 each
My Mudra Fincorp announced business sourcing updates under its Business Correspondent (BC) partnership with Unity Small Finance Bank Limited. During the first month of operations, the company sourced loan business amounting to ₹1.254 crore across secured and unsecured products. The partnership model is designed to generate recurring revenues from loans facilitated through its distribution network, compared to its TTM revenue base of ₹198 crore.
- Sourced loan business of ₹1.254 crore during the first month of operations
- Partnership operates under a Business Correspondent (BC) model with Unity Small Finance Bank Limited
- Covers distribution of both secured and unsecured loan products to generate recurring revenue
My Mudra Fincorp Limited announced the results of its 13th Annual General Meeting held on September 18, 2026. All listed resolutions were passed unanimously with 100% of the polled votes cast in favor. Out of 11,391,800 total shares, 6,672,200 votes were polled, representing a 58.57% voter turnout. Key approvals included the adoption of FY26 standalone financial statements, re-appointment of retiring director Ganesh Kumar Mishra, and regularisation/appointment of Madan Sardar as Whole-time Director.
- Total voting turnout stood at 58.57% (6,672,200 votes polled out of 11,391,800 outstanding shares)
- 100% of the polled votes (6,672,200 votes) were cast in favor across all resolutions with 0 votes against
- Promoter group polled 5,521,600 shares, representing 100% turnout of promoter holding
- Public Non-Institutions polled 1,150,600 votes out of 5,591,800 shares (20.58% turnout), while institutional turnout was 0%
My Mudra Fincorp Limited held its 13th Annual General Meeting (AGM) on September 18, 2026, through video conferencing. A total of 16 members attended the meeting, which started at 01:00 PM and concluded at 01:31 PM IST. The statutory auditors issued an unqualified audit report for FY 2025-26. This announcement represents standard regulatory compliance and contains no new financial or operational disclosures beyond routine AGM proceedings.
- 13th Annual General Meeting held on September 18, 2026, from 01:00 PM to 01:31 PM IST
- A total of 16 members attended the virtual AGM
- Statutory auditors expressed an unqualified opinion on the FY 2025-26 financial statements
- E-voting remained open for 15 minutes post-proceedings
My Mudra Fincorp Limited has issued letters containing web-links to the FY 2025-26 Annual Report and AGM Notice to members whose email addresses are not registered with the company or depositories. The company's 13th Annual General Meeting is scheduled to be held on Friday, September 18, 2026, at 01:00 PM IST via Video Conferencing. The cut-off date for identifying unregistered shareholders was August 21, 2026. This is a procedural compliance filing under SEBI Listing Regulations with no operational or financial impact.
- 13th Annual General Meeting scheduled for September 18, 2026 at 01:00 PM IST via VC/OAVM
- Dispatched FY 2025-26 Annual Report web-link letters to shareholders without registered emails
- Cut-off date for unregistered member identification was August 21, 2026
My Mudra Fincorp Limited has issued the notice for its 13th Annual General Meeting (AGM) scheduled for Friday, September 18, 2026, to be held via Video Conferencing. Key agenda items include the adoption of audited financial statements for the financial year ended March 31, 2026, and the re-appointment of director Ganesh Kumar Mishra, who retires by rotation. Additionally, the company seeks shareholder approval for appointing Madan Sardar as a Whole-Time Director for a 3-year term effective August 18, 2026. This announcement represents standard statutory and annual governance compliance.
- 13th Annual General Meeting scheduled for September 18, 2026, at 01:00 PM IST via VC/OAVM.
- Proposed appointment of Madan Sardar as Whole-Time Director for a 3-year period effective August 18, 2026.
- Re-appointment of Ganesh Kumar Mishra as Director, retiring by rotation.
- Adoption of standalone audited financial statements for the financial year ended March 31, 2026.
My Mudra Fincorp Limited has announced the appointment of Mr. Madan Sardar as Additional Director (Executive - Whole Time Director) with effect from August 18, 2026. The Board has approved his appointment as Whole-Time Director for a tenure of 3 years, subject to shareholder approval at the ensuing Annual General Meeting. Mr. Sardar brings operational experience to strengthen internal processes and operational efficiency. He is not related to any existing director and is not debarred by SEBI.
- Appointed as Additional Director (Executive) with effect from August 18, 2026
- Proposed tenure of 3 years as Whole-Time Director subject to shareholder approval
- Appointee (DIN: 11865424) has no familial relationship with existing Board members
- Confirmation provided that appointee is not debarred from holding office by SEBI or any authority
My Mudra Fincorp Limited has approved its Draft Directors' Report for FY 2025-26 and scheduled its 13th Annual General Meeting (AGM) for Friday, September 18, 2026, via Video Conferencing. The cut-off date to determine eligibility for remote e-voting has been fixed as Friday, September 11, 2026. The Register of Members and Share Transfer Books will remain closed from September 12, 2026, to September 18, 2026. Additionally, NSDL has been appointed as the e-voting agency and M/s. Neeraj Arora & Associates as the scrutinizer.
- 13th Annual General Meeting scheduled for Friday, September 18, 2026 at 01:00 p.m. IST via VC/OAVM
- Cut-off date for remote e-voting eligibility set as Friday, September 11, 2026
- Share transfer books and Register of Members closed from September 12, 2026 to September 18, 2026
- Board approved Draft Directors' Report and annexures for the financial year 2025-26
Promoters Nisha and Vaibhav Kulshrestha have pledged a combined 10,37,600 shares, representing 9.11% of the company's equity, to LRSD Securities Private Limited. This pledge serves as collateral for a ₹1.50 crore loan recently availed by My Mudra Fincorp Limited. While the loan amount is small relative to the company's TTM revenue of ₹198 crore (approx. 0.76%), the creation of a pledge is a notable event for a company with a ₹65 crore net worth. The promoters currently maintain a 57.9% stake in the company.
- Total of 10,37,600 shares pledged, representing 9.11% of the total equity capital
- Loan amount secured by the pledge is ₹1,50,00,000 (₹1.50 Cr)
- Promoter Nisha Kulshrestha pledged 5,72,200 shares (5.02%)
- Promoter Vaibhav Kulshrestha pledged 4,65,400 shares (4.09%)
- Pledge was created on August 03, 2026, with LRSD Securities Private Limited
Financial Performance
Revenue Growth by Segment
Total revenue grew 13.07% YoY in FY25 to INR 80.36 Cr. H1 FY26 revenue grew 73.24% YoY to INR 58.45 Cr. Specific segment-wise percentage growth for loans, insurance, and credit cards was not disclosed, though credit cards are noted as a unit-based revenue model.
Geographic Revenue Split
The company is expanding into Tier 2 and Tier 3 markets such as Basti (near Ayodhya) and Muzaffarnagar to leverage lower rental and commission costs. Specific percentage contribution by region is not disclosed.
Profitability Margins
PAT margin improved from 6.5% in H1 FY24 to 8.5% in H1 FY25. For the full year FY25, PAT grew 40.22% to INR 9.01 Cr from INR 6.42 Cr in FY24. H1 FY26 PAT grew 87.39% YoY.
EBITDA Margin
EBITDA margin stood at 14.4% in H1 FY25, an improvement of 434 bps from 10.1% in H1 FY24. H1 FY26 EBITDA grew 74.74% YoY.
Capital Expenditure
Not explicitly disclosed in absolute INR Cr, but IPO proceeds are being utilized for technology adoption, business scale expansion, and strengthening the balance sheet.
Credit Rating & Borrowing
Debt-Equity ratio improved significantly by 88.79% to 0.07x in FY25 (from 0.59x in FY24) due to IPO proceeds and debt reduction. Finance costs for H1 FY25 were INR 0.63 Cr.
Operational Drivers
Raw Materials
Lead generation costs and technology platform maintenance represent the primary operational costs, with Employee Benefit Expenses at INR 3.36 Cr in H1 FY25.
Import Sources
Domestic (India) operations only.
Key Suppliers
Strategic partnerships with over 75 Banks and NBFCs who provide the financial products distributed by the company.
Capacity Expansion
Current employee strength is 206 as of March 31, 2025. Expansion includes opening new branches in Basti and three additional upcoming locations to drive volume.
Raw Material Costs
Not applicable for a service-based fintech; however, 'Other Expenses' (including lead generation) were INR 25.51 Cr in H1 FY25.
Manufacturing Efficiency
Not applicable; company uses an asset-light distribution model to maintain high returns on capital.
Logistics & Distribution
Distribution is handled through a network of DSAs and franchisees; focus is on lower-cost Tier 2/3 cities to improve unit economics.
Strategic Growth
Expected Growth Rate
73.24%
Growth Strategy
Achieving growth through product line extension into Mutual Funds and Gold Loans, geographic expansion into underserved Tier 2/3 markets, and leveraging a database of existing customers for cross-selling high-margin products like credit cards and insurance.
Products & Services
Secured and unsecured loans (ticket sizes INR 2.5-5 lakhs), insurance policies, credit cards (free and super premium), and mutual funds.
Brand Portfolio
My Mudra
New Products/Services
Launched credit card and insurance bundling; starting Gold Loan and Mutual Fund distribution to diversify revenue streams.
Market Expansion
Targeting expansion in Bihar and Uttar Pradesh, specifically moving beyond prime markets like Patna to lower-cost areas like Muzaffarnagar.
Strategic Alliances
Partnerships with 75+ Banks and NBFCs for financial product distribution.
External Factors
Industry Trends
The fintech distribution industry is growing at a rapid pace due to digital disbursement mechanisms. My Mudra is positioning itself as a trusted intermediary with an asset-light model that avoids direct credit risk.
Competitive Landscape
Faces competition from established NBFCs, commercial banks, and agile fintech players which exerts pressure on commission margins.
Competitive Moat
Moat is built on a robust distribution network of 75+ bank partners and a capital-efficient model. Sustainability is driven by low operating costs and the ability to scale in Tier 2/3 cities where competition is lower.
Macro Economic Sensitivity
Highly sensitive to RBI monetary policy and interest rate cycles which influence the demand for retail and corporate loans.
Consumer Behavior
Increasing consumer preference for digital-first financial services and bundled products (e.g., credit cards with insurance).
Geopolitical Risks
Low; primary risks are domestic regulatory shifts and macroeconomic fluctuations in India.
Regulatory & Governance
Industry Regulations
Subject to RBI guidelines for banking partners and SEBI (LODR) regulations for listed entities.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 26.3% (INR 3.18 Cr tax on INR 12.11 Cr PBT).
Legal Contingencies
INR 0; the company reported no pending litigations that would impact its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
Regulatory changes by RBI regarding unsecured lending could impact loan volumes by 15-20% if risk weights are increased.
Geographic Concentration Risk
High concentration in North India, particularly UP and Bihar markets.
Third Party Dependencies
100% dependency on third-party Banks and NBFCs for the supply of financial products.
Technology Obsolescence Risk
Risk of digital-only platforms bypassing traditional DSA networks; mitigated by technology adoption.
Credit & Counterparty Risk
Low risk; the company does not carry credit risk on its own balance sheet as it acts only as a distributor.
