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Ugro Capital Limited
(UGROCAP)
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Rating:53Neutral
Price Target:
₹97.00
▲(4.35% Upside)
Action:Reiterated
Date:08/06/26
The score is held back mainly by higher balance-sheet risk (debt-to-equity ~3.55x) and historically unstable cash flows despite a 2026 improvement, alongside weak long-term price trend/momentum (well below the 200-DMA, negative MACD). These risks are partially offset by strong revenue growth and an inexpensive valuation (P/E 6.82).
Positive Factors
Strong Revenue Growth
UGROCAP has delivered sustained top-line expansion driven by scale-up since 2023 and 2026 revenue growth. Durable revenue growth from expanding MSME loan origination improves diversification of the loan book, supports fee income potential and underpins longer-term earnings capacity.
Negative Factors
Elevated Leverage
High leverage materially increases sensitivity to interest-rate moves and funding disruptions for a lending franchise. With debt-to-equity ~3.6x, financial flexibility is constrained, amplifying downside from credit stress and making sustainable deleveraging or aggressive growth more costly over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
UGROCAP has delivered sustained top-line expansion driven by scale-up since 2023 and 2026 revenue growth. Durable revenue growth from expanding MSME loan origination improves diversification of the loan book, supports fee income potential and underpins longer-term earnings capacity.
Read all positive factors
Ugro Capital Limited (UGROCAP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹14.66B
Dividend YieldN/A
Average Volume (3M)20.96K
Price to Earnings (P/E)6.8
Beta (1Y)1.57
Revenue Growth39.48%
EPS Growth-8.51%
CountryIN
Employees2,095
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)14.00
Shares Outstanding155,288,330
10 Day Avg. Volume15,127
30 Day Avg. Volume20,963
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)0.47
Price to Sales (P/S)0.92
P/FCF Ratio7.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.45
Revenue Forecast (FY)₹11.73B
Ugro Capital Limited Business Overview & Revenue Model
Company Description
UGRO Capital Limited functions as a non-banking financial company primarily engaged in offering various lending services. The firm provides business financing specifically targeting diverse sectors such as healthcare, education, chemicals, food pr...
How the Company Makes Money
UGROCAP primarily makes money by extending loans to MSMEs and earning interest income (and related lending yield) on the outstanding loan book. Its core revenue stream is the net interest income generated from the spread between (a) interest earne...
Ugro Capital Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
44
Neutral
Cash Flow
40
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.74B | 9.64B | 7.07B | 4.88B | 2.68B |
| Gross Profit | 2.23B | 1.29B | 995.24M | 678.77M | 624.11M |
| EBITDA | -140.04M | 2.62B | 2.19B | 1.07B | 348.23M |
| Net Income | 1.75B | 1.44B | 1.19B | 397.76M | 145.51M |
Balance Sheet | |||||
| Total Assets | 140.75B | 91.68B | 62.80B | 43.06B | 28.54B |
| Cash, Cash Equivalents and Short-Term Investments | 18.25B | 5.53B | 883.64M | 2.12B | 1.60B |
| Total Debt | 108.68B | 69.04B | 46.53B | 31.49B | 18.31B |
| Total Liabilities | 111.69B | 71.22B | 48.42B | 33.22B | 18.88B |
| Stockholders Equity | 29.06B | 20.46B | 14.38B | 9.84B | 9.67B |
Cash Flow | |||||
| Free Cash Flow | 1.71B | -25.00B | -15.38B | -12.61B | -11.46B |
| Operating Cash Flow | 2.14B | -24.74B | -15.35B | -12.20B | -11.32B |
| Investing Cash Flow | -19.64B | -799.24M | -2.30B | -845.42M | 413.80M |
| Financing Cash Flow | 27.51B | 26.55B | 18.14B | 12.79B | 10.23B |
Ugro Capital Limited Technical Analysis
Negative
92.96
Price Trends
96.35
Negative
97.87
Negative
128.83
Negative
Market Momentum
-0.21
Negative
48.65
Neutral
37.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UGROCAP, the sentiment is Negative. The current price of 92.96 is below the 20-day moving average (MA) of 96.09, below the 50-day MA of 96.35, and below the 200-day MA of 128.83, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 48.65 is Neutral, neither overbought nor oversold. The STOCH value of 37.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UGROCAP.
Ugro Capital Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹64.72B | 27.18 | ― | 0.29% | 22.32% | 17.78% | |
58 Neutral | ₹58.04B | 14.72 | ― | 0.62% | 23.25% | 21.60% | |
58 Neutral | ₹99.78B | 20.64 | ― | ― | 27.55% | 28.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹41.86B | 41.46 | ― | ― | -3.48% | ― | |
54 Neutral | ₹40.49B | -10.34 | ― | ― | -1.90% | -151.40% | |
53 Neutral | ₹14.66B | 6.82 | ― | ― | 39.48% | -8.51% |
* General Sector Average
IN:UGROCAP
Ugro Capital Limited
96.13
-70.77
-42.40%
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IN:SBFC
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-6.99%
Ugro Capital Limited Corporate Events
Ugro Capital Shuts Trading Window Ahead of June-Quarter Results
Jun 28, 2026
Ugro Capital Limited has announced that its trading window will be closed from June 29, 2026 until 48 hours after the declaration of its unaudited financial results for the quarter ending June 30, 2026, in line with SEBI’s Prohibition of Ins...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.