💰 Financial Performance

Revenue Growth by Segment

During FY 2024-25, 100% of revenue was derived from investment activities as lending operations had not yet commenced. Lending operations began in June 2025, which will shift the revenue mix in FY 2025-26.

Geographic Revenue Split

100% of operations and revenue are concentrated in the Indian market.

Profitability Margins

The company reported a profit for FY 2024-25, but specific gross, operating, or net margin percentages were not disclosed in the provided document snippets.

⚙️ Operational Drivers

Raw Materials

Not applicable for a financial services company.

Import Sources

Not applicable for a financial services company.

Key Suppliers

Not applicable for a financial services company.

Capacity Expansion

The company is currently classified in the Base Layer of the RBI Scale-Based Regulatory (SBR) framework with an asset size below INR 1,000 crore. It plans a phased expansion into retail and SME lending to grow its loan book.

Raw Material Costs

Not applicable for a financial services company.

Manufacturing Efficiency

Not applicable for a financial services company.

Logistics & Distribution

Not applicable for a financial services company.

📈 Strategic Growth

Growth Strategy

The company plans to achieve growth by pivoting from an investment-only model to a diversified financial institution. This involves a calibrated entry into retail and SME lending starting June 2025. The strategy focuses on building a high-quality loan book through strong underwriting, robust compliance, and leveraging technology to expand customer reach in underpenetrated segments.

Products & Services

In FY 2024-25, the company provided investment management services (Equity and Debt). From June 2025, it has expanded its service portfolio to include retail and SME lending products.

Brand Portfolio

Team India Guaranty Limited (formerly known as Times Guaranty Limited).

New Products/Services

Retail and SME lending operations commenced in June 2025, which are expected to be the primary drivers of future revenue growth.

Market Expansion

The company is targeting underpenetrated credit segments in India, specifically focusing on retail and SME finance.

🌍 External Factors

Industry Trends

The NBFC sector is growing through financial inclusion and digitization. The RBI's Scale-Based Regulation (SBR) framework, implemented in FY 2024-25, requires enhanced governance and risk management. TIGL is positioning itself as a dynamic and responsible player by aligning with these stricter norms while targeting underserved retail and SME credit markets.

Competitive Landscape

The company competes with other NBFCs in the Indian financial services ecosystem, particularly those focused on retail and SME finance.

Competitive Moat

TIGL's moat is its NBFC-ICC regulatory license and its strategic realignment under new leadership (Team India Managers Limited) to target underpenetrated credit segments. This transition is supported by a clean regulatory record and a shift toward technology-driven lending.

Macro Economic Sensitivity

The company is sensitive to the interest rate regime; high rates in FY 2024-25 elevated funding costs across the NBFC sector.

Consumer Behavior

There is an increasing demand for credit in underserved and semi-urban markets, which the company aims to meet through its new lending operations.

⚖️ Regulatory & Governance

Industry Regulations

The company is governed by the RBI Scale-Based Regulatory (SBR) framework and complied with the RBI Master Direction (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023. It also follows the RBI (Filing of Supervisory Returns) Directions 2024.

Environmental Compliance

Corporate Social Responsibility (CSR) requirements were not applicable to the company for FY 2024-25 based on its financial thresholds.

Legal Contingencies

No pending proceedings under the Insolvency and Bankruptcy Code, 2016 were reported for FY 2024-25. There were no material orders passed by regulators or courts impacting the company's status as a going concern.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the successful execution of the business model transition from investment to lending (Retail/SME) which began in June 2025. Additionally, the company faces risks from interest rate volatility which could impact its cost of funds.

Geographic Concentration Risk

100% of the company's operations are based in India, with its registered office recently shifted to Mumbai in December 2024.

Technology Obsolescence Risk

The company is adopting technology to drive efficiency in its new lending vertical, mitigating the risk of digital obsolescence.

Credit & Counterparty Risk

Not applicable for the period ending March 31, 2025, as the company had no customer interface or lending receivables.