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PAISALO - Paisalo Digital

📊 NSE: PAISALO 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 10:50

📢 Recent Corporate Announcements

Paisalo Digital Gets 'BWR AA/Stable' Rating for Proposed Rs 1,500 Crore NCDs

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 14 Mar 2026, 01:21 PM

Paisalo Digital Limited has obtained a new credit rating of 'BWR AA' with a 'Stable' outlook from Brickwork Ratings India Private Limited. This rating applies to the company's proposed Non-Convertible Debentures (NCDs) amounting to Rs 1,500 crores. The new rating is an addition to existing ratings from Infomerics Analytics and Research. This high-grade rating suggests strong credit quality and will likely assist the NBFC in raising capital at favorable interest rates for its lending operations.

New credit rating of 'BWR AA / Stable' assigned by Brickwork Ratings.
Rating covers proposed long-term Non-Convertible Debentures (NCDs) worth Rs 1,500 crores.
The rating is incremental to existing ratings provided by Infomerics Analytics and Research.
The 'Stable' outlook reflects the agency's view on the company's consistent credit profile.

💡 The 'AA' rating is a strong endorsement of the company's balance sheet, making it easier to fund growth. Investors should monitor the successful placement of these NCDs and the resulting impact on the company's cost of funds.

Paisalo Digital to Consider NCD Allotment via Private Placement on March 18

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 14 Mar 2026, 01:10 PM

Paisalo Digital Limited has scheduled a meeting of its Operations and Finance Committee for March 18, 2026. The committee will meet to consider and approve the allotment of Non-Convertible Debentures (NCDs) on a private placement basis. This is a standard capital-raising procedure for the NBFC to support its ongoing lending operations and liquidity requirements. Investors should monitor the final quantum and interest rates once the allotment is finalized.

Operations and Finance Committee meeting scheduled for March 18, 2026.
The primary agenda is the allotment of Non-Convertible Debentures (NCDs).
The issuance will be conducted through a private placement basis.
The company currently manages a wide range of active NCDs and Commercial Papers (CPs).

💡 Monitor the subsequent disclosure regarding the total amount raised and the coupon rate of the NCDs. This fundraise is typical for NBFCs to fuel growth, but investors should keep an eye on the overall debt-to-equity levels.

Paisalo Digital to Raise Up to ₹100 Crore via 9.25% Secured NCDs

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 11 Mar 2026, 12:35 PM

Paisalo Digital Limited's Operations and Finance Committee has approved the issuance of secured Non-Convertible Debentures (NCDs) worth up to ₹100 crores. The issue includes a base size of ₹50 crores with an option to retain oversubscription of another ₹50 crores. These NCDs offer a 9.25% annual coupon with monthly interest payments and have a tenure of 30 months. The debt is secured by a 1.10x charge on the company's loan receivables, providing a safety buffer for lenders.

Total fundraise of up to ₹100 crores through private placement of secured NCDs
Fixed coupon rate of 9.25% per annum with a monthly payout schedule
Instrument tenure is 30 months with a tentative allotment date of March 18, 2026
Security cover maintained at 1.10 times the principal outstanding through loan receivables

💡 Investors should view this as a routine but positive liquidity-enhancing move that supports the company's lending growth. Monitor the company's net interest margins to ensure the cost of debt is efficiently managed against lending rates.

Paisalo Digital to Consider Fund Raising via NCDs on March 11, 2026

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 06 Mar 2026, 05:44 PM

Paisalo Digital Limited has scheduled a meeting of its Operations and Finance Committee for March 11, 2026. The primary objective of the meeting is to consider and approve a proposal for raising funds through the issuance of Non-Convertible Debentures (NCDs). The proposed issuance will be conducted on a private placement basis, which is a common capital-raising route for NBFCs to fuel lending growth.

Operations and Finance Committee meeting scheduled for March 11, 2026.
Fund raising proposal involves the issuance of Non-Convertible Debentures (NCDs).
Issuance to be executed on a Private Placement basis.
The announcement complies with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations 29 and 50.

💡 Investors should monitor the outcome of the March 11 meeting to determine the total size of the fundraise and the coupon rates offered. This information will be crucial in assessing the company's borrowing costs and its capacity for future loan book expansion.

Paisalo Digital to Attend Arihant Capital's 'Rising Stars 2026' Conference on March 10

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 10:02 AM

Paisalo Digital Limited has announced its participation in the Arihant Capital - Bharat Connect Conference 'Rising Stars 2026' scheduled for March 10, 2026. The interaction will be held virtually and is part of the company's regular engagement with institutional investors and analysts. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during this session. This disclosure is made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Investor meeting scheduled for March 10, 2026, via virtual mode.
Participation in the Arihant Capital - Bharat Connect Conference 'Rising Stars 2026'.
Disclosure made under Regulation 30(6) of SEBI (LODR) Regulations, 2015.
Company confirms no unpublished price sensitive information will be disclosed.

💡 Investors should monitor for any investor presentations or transcripts released after the conference for updates on the company's growth outlook. No immediate trading action is necessary based on this routine scheduling announcement.

Paisalo Digital to Conduct Virtual Non-Deal Roadshow with Institutional Investors on March 5, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Mar 2026, 04:17 PM

Paisalo Digital Limited has announced a virtual non-deal roadshow scheduled for March 5, 2026. The company will engage in 1-on-1 interactions with several prominent institutional investors, including Franklin Templeton Alternate Investment and 360 One Wealth. Other participants include FYERS Asset Management and Quantum Asset Management. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during these sessions.

Scheduled virtual non-deal roadshow for March 5, 2026, with four institutional investors.
Key participants include 360 One Wealth, Franklin Templeton, FYERS, and Quantum Asset Management.
The interactions will be conducted in a 1*1 virtual format.
Company confirms that no unpublished price sensitive information is proposed to be shared.

💡 Investors should monitor for any investor presentations or meeting transcripts released after the event for insights into the company's growth outlook. No immediate trading action is required as this is a routine investor relations activity.

Paisalo Digital Allots 600 Commercial Papers to Raise ₹30 Crore via Private Placement

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 27 Feb 2026, 12:08 PM

Paisalo Digital Limited has successfully allotted 600 Commercial Papers (CPs) on February 27, 2026, through its Operations and Finance Committee. The CPs were issued at a price of ₹4,86,064 each, totaling an issue value of approximately ₹29.16 crore. These instruments carry a face value of ₹5,00,000 each, leading to a total redemption value of ₹30 crore upon maturity. The tenure is set for 91 days, with the maturity date fixed for May 29, 2026, indicating a short-term borrowing for liquidity management.

Allotment of 600 Commercial Papers on a private placement basis
Total issue value of ₹29.16 crore against a redemption value of ₹30 crore
Short-term tenure of 91 days with maturity scheduled for May 29, 2026
Face value per CP is ₹5,00,000 with an issue price of ₹4,86,064
The securities will be listed on the stock exchanges

💡 This is a routine short-term debt raise for an NBFC to manage working capital; investors should continue to monitor the company's cost of funds and overall leverage.

Paisalo Digital Redeems Commercial Paper Worth Rs. 15 Crore

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Feb 2026, 03:37 PM

Paisalo Digital Limited has successfully redeemed and repaid its Commercial Paper (CP) amounting to Rs. 15 crore. The redemption was completed on the scheduled maturity date of February 18, 2026, in compliance with SEBI operational circulars. This repayment pertains to the instrument listed under Scrip Code 730058 (ISIN: INE420C14219) on the BSE. The timely fulfillment of this short-term debt obligation demonstrates the company's disciplined liquidity management.

Full redemption and repayment of Commercial Paper worth Rs. 15,00,00,000.
Payment completed on the actual maturity date of February 18, 2026.
Compliance maintained with SEBI/HO/DDHS/P/CIR/2021/613 operational circular.
The redeemed instrument was listed on the BSE under Scrip Code 730058.

💡 No immediate action is required as this is a routine debt repayment. Investors should view this as a positive sign of the company's ability to meet its short-term financial obligations.

Paisalo Digital Redeems 23 Unlisted NCDs Worth Rs 23 Crore at 12% Interest

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 13 Feb 2026, 04:31 PM

Paisalo Digital Limited has announced the successful redemption of 23 unlisted, unsecured, and unrated Non-Convertible Debentures (NCDs) on February 13, 2026. Each NCD carried a face value of Rs 1 crore, resulting in a total repayment of Rs 23 crore to the debenture holders. These instruments, belonging to the PDL-02-2021 series, carried a high coupon rate of 12% per annum. The redemption was executed at par through full and final payment, demonstrating the company's ability to meet its debt obligations on schedule.

Redemption of 23 Unlisted Unsecured 12% Non-Convertible Debentures (NCDs)
Total repayment value of Rs 23 crore based on a face value of Rs 1 crore per unit
Instruments were part of the PDL-02-2021 series and redeemed at par
Full and final payment completed on February 13, 2026, as per issuance terms

💡 This is a routine debt settlement that reflects positively on the company's liquidity management; investors should maintain their current outlook on the stock.

Paisalo Digital Q3 FY26: Record PAT of ₹663 Million and 16% AUM Growth to ₹55,082 Million

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 05:56 PM

Paisalo Digital reported its highest-ever quarterly Profit After Tax (PAT) of ₹663 million, representing a 29% sequential increase. Assets Under Management (AUM) grew 16% YoY to ₹55,082 million, supported by disbursements of ₹10,574 million during the quarter. The company successfully reduced its cost of borrowing to 10.3%, a 92 bps YoY decline, aided by a recent ₹1,885 million fundraise at a competitive 8.5% rate. Management has outlined a 3-year strategy to double AUM and PAT, driven by an AI-led digital transformation and expansion of its 4,872-touchpoint distribution network.

Reported record quarterly PAT of ₹663 million, up 29% QoQ.
AUM reached ₹55,082 million, marking a 16% YoY growth with ₹10,574 million in disbursements.
Cost of borrowing declined to 10.3% (down 92 bps YoY), with new funding secured at 8.5%.
Expanded distribution network to 4,872 touchpoints across 22 states, adding 1.6 million customers in Q3.
Targeting a 3-year goal to double AUM, income, and PAT while maintaining asset quality below 1%.

💡 Investors should monitor the execution of the AI-led digital transformation and the company's ability to maintain sub-1% asset quality while scaling. The significant reduction in borrowing costs and record profitability suggest strong operational tailwinds.

Paisalo Digital Redeems Unlisted NCD Worth ₹1 Crore at 12% Interest

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Feb 2026, 11:22 AM

Paisalo Digital Limited has announced the successful redemption of one unlisted, unsecured, and unrated Non-Convertible Debenture (NCD) on February 12, 2026. The NCD, belonging to Series PDL 2020-2, had a face value of ₹1,00,00,000 (₹1 Crore). The company completed the full and final payment at par in accordance with the original terms of the issue. This redemption reflects the company's commitment to meeting its debt obligations as per the scheduled timeline.

Redemption of 1 Unlisted Unsecured Unrated NCD with a face value of ₹1 Crore
The instrument carried a high coupon rate of 12% per annum
Full and final payment made at par on the scheduled date of February 12, 2026
The redeemed instrument was part of the Series PDL 2020-2 issuance

💡 This is a routine debt repayment and has no significant impact on the company's valuation. Investors should monitor the company's overall cost of funds and liquidity position in upcoming quarterly results.

Paisalo Digital Releases Audio Recording of Q3 FY26 Earnings Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Feb 2026, 04:54 PM

Paisalo Digital Limited has officially released the audio recording of its earnings conference call for the quarter ended December 31, 2025. The call, held on February 09, 2026, followed the disclosure of the company's Q3 FY26 financial results. This recording allows investors to hear management's detailed commentary and responses to analyst queries regarding operational performance. The link is hosted on the company's website in compliance with SEBI LODR regulations.

Earnings conference call for Q3 FY26 successfully conducted on February 09, 2026.
Audio recording of the session made available to the public via the company's website.
Disclosure follows the release of financial results and investor presentation for the same period.
Filing made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 Investors should listen to the recording to understand management's outlook on AUM growth and asset quality. No immediate trading action is required based on this procedural filing.

Paisalo Digital Q3FY26: Highest Quarterly PAT at Rs 663 Mn, AUM Grows 16% YoY to Rs 55,082 Mn

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 11:14 AM

Paisalo Digital reported a strong Q3FY26 with its highest-ever quarterly Profit After Tax (PAT) of Rs 663 Mn, representing a 6% YoY growth. Assets Under Management (AUM) reached Rs 55,082 Mn, up 16% YoY, driven by steady credit demand in the MSME segment. Asset quality improved significantly with Gross NPA declining to 0.83% from 1.10% a year ago. The company also benefited from a 92 bps reduction in borrowing costs to 10.3%, while maintaining a robust capital adequacy ratio of 38.3%.

AUM grew 16% YoY to Rs 55,082 Mn; Total Income rose 18% YoY to Rs 2,401 Mn.
Achieved highest-ever quarterly PAT of Rs 663 Mn with a steady NIM of 6.6%.
Asset quality improved with GNPA at 0.83% and NNPA at 0.66%, supported by 98.8% collection efficiency.
Cost of borrowing decreased significantly by 92 bps YoY to 10.3%.
Customer franchise expanded to 14 million with 1.6 million new additions in Q3.

💡 Investors should view the improving asset quality and declining borrowing costs as positive indicators of operational efficiency. The company's robust capital adequacy of 38.3% provides a strong cushion for future growth.

Paisalo Digital Q3 FY26: Highest Ever AUM at ₹55,082 Mn, PAT Up 6% YoY to ₹663 Mn

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 11:09 AM

Paisalo Digital reported a strong Q3 FY26 with its highest-ever AUM of ₹55,082 million, representing a 16% YoY growth. Total income surged 18% YoY to ₹2,401 million, while net profit grew 6% to reach a record quarterly high of ₹663 million. Asset quality remains a key strength with GNPA and NNPA at healthy levels of 0.83% and 0.66%, respectively. The company also expanded its reach to 4,872 touchpoints and saw promoters increase their stake to 41.7%.

AUM grew 16% YoY to ₹55,082 million with disbursements of ₹10,574 million in Q3.
Net Interest Income (NII) rose 19% YoY to ₹1,453 million, driving a record PAT of ₹663 million.
Borrowing costs improved significantly, dropping 92 bps YoY to 10.3%.
Customer base expanded to ~14 million, with 1.6 million new customers added during the quarter.
Promoters increased their stake by 0.5% during the quarter, bringing the total holding to 41.7%.

💡 Investors should note the consistent growth in AUM and improving cost of funds, which signal operational efficiency. The stable asset quality and promoter buying provide additional confidence in the company's long-term AI-led growth strategy.

Paisalo Digital Q3FY26: Highest Ever PAT at Rs 663 Mn, AUM Grows 16% YoY to Rs 55,082 Mn

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 10:32 AM

Paisalo Digital reported a strong Q3FY26 with its highest-ever quarterly Profit After Tax (PAT) of Rs 663 million, a 6% YoY and 29% QoQ increase. Assets Under Management (AUM) grew 16% YoY to Rs 55,082 million, supported by an 18% rise in total income to Rs 2,401 million. Asset quality remains healthy with GNPA improving to 0.83% from 1.10% a year ago, while the cost of borrowing significantly decreased by 92 bps to 10.3%. The company expanded its reach to 4,872 touchpoints and added 1.6 million customers during the quarter.

Reported highest-ever quarterly PAT of Rs 663 Mn, up 29% sequentially from Q2FY26.
AUM reached Rs 55,082 Mn, marking a 16% YoY growth with disbursements of Rs 10,574 Mn.
Asset quality improved significantly with GNPA at 0.83% and NNPA at 0.66% compared to 1.10% and 0.84% YoY.
Cost of borrowing reduced by 92 bps YoY to 10.3%, while NIM remained steady at 6.6%.
Customer franchise expanded to approximately 14 million with 492 new touchpoints added in Q3.

💡 Investors should look favorably at the improving asset quality and declining cost of funds, which are key drivers for NBFC profitability. The steady NIM and robust capital adequacy of 38.3% provide a strong cushion for future growth.

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💰 Financial Performance

Revenue Growth by Segment

Total Income reached a record INR 2,240 million in Q2 FY26, growing 20% YoY. This was driven by a 24% YoY increase in Interest Income to INR 2,077 million. For H1 FY26, Total Income stood at INR 4,427 million, up 18.5% YoY, primarily fueled by the co-lending segment which saw disbursements rise 41% YoY to INR 11,025 million.

Geographic Revenue Split

The company operates across 22 states and Union Territories. While specific revenue % per state is not disclosed, the company is expanding its footprint with 4,380 touchpoints as of Q2 FY26, up from 3,565 in FY25, to mitigate geographic concentration risks in its core northern and central Indian markets.

Profitability Margins

Net Interest Margin (NIM) stood at 6.5% in Q2 FY26, a marginal 1 bps YoY decline. Net Profit Ratio for FY25 was 36.09%. Profit After Tax (PAT) for Q2 FY26 was INR 515 million, up 3.3% YoY, while H1 FY26 PAT reached INR 987 million, an 8% YoY increase. Return on Equity (ROE) was 11.7% and Return on Assets (ROA) was 3.6% for H1 FY26.

EBITDA Margin

Pre-Provision Operating Profit (PPOP) for Q2 FY26 was INR 809 million, up 6.8% YoY. The PPOP margin is impacted by a 33.7% YoY increase in operating expenses (INR 453 million) due to the addition of 815 touchpoints and 51 branches in H1 FY26 to support long-term scaling.

Capital Expenditure

Not disclosed as a traditional CapEx figure; however, the company invested in expanding its physical infrastructure to 402 branches and 4,380 total touchpoints by September 2025. Equity capital increased from INR 90.21 crore to INR 90.95 crore following a USD 4 million FCCB conversion in September 2025.

Credit Rating & Borrowing

The company holds an IVR AA/Stable/A1+ rating from Infomerics. Average borrowing cost significantly improved to 10.5% in Q2 FY26, a reduction of 127 bps YoY, driven by a diverse lender base where Public Sector Banks contribute 74% of the borrowing mix.

⚙️ Operational Drivers

Raw Materials

As a financial services entity, the primary 'raw material' is capital. The borrowing mix consists of Public Sector Banks (74%), Private Banks (23%), and other sources (3%).

Import Sources

Capital is sourced domestically from major Indian banks including SBI, PNB, Bank of Baroda, and UCO Bank, and internationally via FCCB issuances (USD 50 million maiden issuance).

Key Suppliers

Key financial partners providing liquidity include State Bank of India, Punjab National Bank, Bank of Baroda, UCO Bank, Karnataka Bank, and Bank of India.

Capacity Expansion

Current 'capacity' is represented by an AUM of INR 54,494 million as of Q2 FY26. The company added 383 new touchpoints in Q2 FY26 alone, reaching a total of 4,380. The strategic goal is to double the AUM within the next 3 years, implying a target of approximately INR 1,08,000 million.

Raw Material Costs

Interest expense, the cost of capital, was INR 978 million in Q2 FY26, up 26.5% YoY. Despite the absolute increase due to higher borrowing volumes, the cost of borrowing rate decreased to 10.5% from 11.77% YoY.

Manufacturing Efficiency

Operational efficiency is tracked via the 98.4% collection efficiency and a low GNPA of 0.81% as of Q2 FY26, which is significantly better than the industry average for small-ticket lending.

Logistics & Distribution

Distribution is managed through 2,585 Distribution Points and 1,393 Business Correspondents (BCs). Operating expenses as a % of Total Income stood at approximately 20.2% in Q2 FY26.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

The company plans to achieve a 20% CAGR by doubling its AUM in 3 years through geographic expansion (adding 815 touchpoints in H1 FY26) and product diversification. It is transitioning from a focus on Small Income Generation Loans to higher-ticket segments like Loan Against Property (LAP), Tractor finance, and Medical Equipment finance.

Products & Services

Small Income Generation Loans (IGL), SME & MSME Loans, Vehicle Finance, Entrepreneurial Loans, and Priority Sector Lending.

Brand Portfolio

PAISALO

New Products/Services

New rollouts include Loan Against Property (LAP), Tractor Finance, and Medical Equipment Finance, which are currently moving from pilot to full rollout across Agri hubs like Pune and Chandigarh.

Market Expansion

Expansion is focused on core Agri hubs and states like MP, UP, Haryana, Rajasthan, and Delhi NCR, utilizing a network of 4,380 touchpoints.

Market Share & Ranking

Not disclosed in absolute ranking, but identified as a 'Middle Layer NBFC' by RBI with a significant co-lending partnership with SBI.

Strategic Alliances

Key co-lending partnerships with State Bank of India, Punjab National Bank, Bank of Baroda, and Karnataka Bank allow for capital-efficient growth.

🌍 External Factors

Industry Trends

The industry is shifting toward regulated co-lending models. New RBI co-lending guidelines effective January 1, 2026, are viewed as a 'positive development' that will allow Paisalo to partner with a wider range of Fintechs and regulated entities.

Competitive Landscape

Faces intense competition from other NBFCs, Microfinance Institutions (MFIs), and small finance banks targeting the MSME and rural sectors.

Competitive Moat

The primary moat is the deep-rooted co-lending tie-up with SBI and other PSU banks, which provides a low-cost funding pipeline (10.5% cost) and a massive distribution reach that is difficult for new NBFCs to replicate.

Macro Economic Sensitivity

Highly sensitive to the rural Indian economy and inflation, as its primary borrowers are at the 'bottom of the economic pyramid.' Slowdowns in rural demand directly impact the 98.4% collection efficiency.

Consumer Behavior

Increasing digital adoption among rural borrowers is allowing Paisalo to scale its customer franchise to 13 million, though it increases the risk of system downtime and data breaches.

Geopolitical Risks

Minimal direct impact as operations are 100% domestic, though global interest rate shifts affect the pricing of FCCB instruments.

⚖️ Regulatory & Governance

Industry Regulations

Classified as a 'Non-Deposit Taking Middle Layer NBFC' under RBI's scale-based regulation. Must maintain a Capital Adequacy Ratio (CAR) above 15%; Paisalo currently maintains a robust 38.2%.

Environmental Compliance

The company focuses on Social and Governance (ESG) pillars, specifically financial inclusion for the underserved, though specific compliance costs are not disclosed.

Taxation Policy Impact

Effective tax rate is approximately 25.3% based on Q2 FY26 PBT of INR 690 million and Tax of INR 175 million.

⚠️ Risk Analysis

Key Uncertainties

Potential for increased credit costs (which rose 37.6% YoY to INR 119 million in Q2) if asset quality normalizes from current low levels of 0.81% GNPA.

Geographic Concentration Risk

The company notes portfolio and geographic concentration as a risk, particularly with emerging 'state-level stress' in Bihar and Eastern UP due to political cycles.

Third Party Dependencies

High dependency on Public Sector Banks, which provide 74% of total borrowings.

Technology Obsolescence Risk

The company is mitigating this through its digital footprint expansion, though it acknowledges that greater digital adoption increases exposure to data breaches and frauds.

Credit & Counterparty Risk

Receivables quality is currently high with a Net NPA of 0.65%, but the company is entering 'riskier' segments like LAP and equipment finance to drive the 20% growth target.