Ugro Capital Limited (IN:UGROCAP)
:UGROCAP
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Ugro Capital Limited
(UGROCAP)
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Rating:44Neutral
Price Target:
₹96.00
▼(-41.96% Downside)
Action:ReiteratedDate:03/19/26
The score is held down primarily by weak financial performance (notably negative operating/free cash flow, high leverage, and a large revenue decline) and a bearish technical trend (price below key moving averages with negative MACD). Valuation is the main offset, with a moderate P/E, but it is not enough to outweigh the financial and technical risks.
Positive Factors
MSME-focused lending model
Specialization in MSME lending is a durable business advantage: tailored underwriting, sector expertise, and focused product design improve risk assessment and client retention. A niche SME focus supports steady loan demand and scalable origination through branches and partnerships over months.
Negative Factors
High leverage
A debt-to-equity ratio of 3.37 signals significant financial leverage. High leverage amplifies refinancing and interest-rate risks, reduces capital flexibility to absorb credit losses, and can force deleveraging that slows loan-book growth and constrains strategic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
MSME-focused lending model
Specialization in MSME lending is a durable business advantage: tailored underwriting, sector expertise, and focused product design improve risk assessment and client retention. A niche SME focus supports steady loan demand and scalable origination through branches and partnerships over months.
Read all positive factors
Ugro Capital Limited (UGROCAP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.49B
Dividend YieldN/A
Average Volume (3M)20.96K
Price to Earnings (P/E)13.5
Beta (1Y)1.47
Revenue Growth33.99%
EPS Growth11.65%
CountryIN
Employees1,678
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)3.25
Shares Outstanding145,240,770
10 Day Avg. Volume15,127
30 Day Avg. Volume20,963
Financial Highlights & Ratios
PEG Ratio0.67
Price to Book (P/B)0.81
Price to Sales (P/S)1.72
P/FCF Ratio-0.66
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)13.6
Revenue Forecast (FY)₹13.82B
Ugro Capital Limited Business Overview & Revenue Model
Company Description
UGRO Capital Limited, a non-banking financial company, engages in the lending business. It provides business loans to healthcare, education, chemicals, food processing/FMCG, hospitality, electrical equipment and components, auto components, and li...
How the Company Makes Money
Ugro Capital primarily makes money by originating MSME loans and earning interest income on the loan book (the spread between the yield on advances and its cost of borrowings). In addition to net interest income, it earns fee-based income from loa...
Ugro Capital Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.87B | 9.64B | 7.07B | 4.88B | 2.68B | 1.33B |
| Gross Profit | 3.34B | 1.29B | 995.24M | 678.77M | 624.11M | 492.22M |
| EBITDA | 3.83B | 2.62B | 2.19B | 1.07B | 348.23M | 257.76M |
| Net Income | 1.55B | 1.44B | 1.19B | 397.76M | 145.51M | 287.27M |
Balance Sheet | ||||||
| Total Assets | 107.79B | 91.68B | 62.80B | 43.06B | 28.54B | 17.51B |
| Cash, Cash Equivalents and Short-Term Investments | 15.99B | 5.53B | 883.64M | 2.12B | 1.60B | 3.53B |
| Total Debt | 80.88B | 69.04B | 46.53B | 31.49B | 18.31B | 7.88B |
| Total Liabilities | 83.16B | 71.22B | 48.42B | 33.22B | 18.88B | 7.98B |
| Stockholders Equity | 24.63B | 20.46B | 14.38B | 9.84B | 9.67B | 9.52B |
Cash Flow | ||||||
| Free Cash Flow | -669.50M | -25.00B | -15.38B | -12.61B | -11.46B | -3.59B |
| Operating Cash Flow | -556.27M | -24.74B | -15.35B | -12.20B | -11.32B | -3.47B |
| Investing Cash Flow | -3.88B | -799.24M | -2.30B | -845.42M | 413.80M | -459.17M |
| Financing Cash Flow | 15.07B | 26.55B | 18.14B | 12.79B | 10.23B | 5.08B |
Ugro Capital Limited Technical Analysis
Negative
165.40
Price Trends
126.86
Negative
150.41
Negative
162.60
Negative
Market Momentum
-10.90
Negative
35.53
Neutral
32.35
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 165.4 is above the 20-day moving average (MA) of 100.42, above the 50-day MA of 126.86, and above the 200-day MA of 162.60, indicating a bearish trend. The MACD of -10.90 indicates Negative momentum. The RSI at 35.53 is Neutral, neither overbought nor oversold. The STOCH value of 32.35 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 (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹29.57B | 23.71 | ― | 0.92% | 5.73% | 12.29% | |
62 Neutral | ₹13.13B | 4.34 | ― | ― | ― | ― | |
61 Neutral | ₹15.38B | 18.43 | ― | ― | -6.03% | -100.77% | |
51 Neutral | ₹26.41B | 19.28 | ― | ― | -10.17% | -181.71% | |
48 Neutral | ₹17.51B | -5.67 | ― | ― | -45.13% | -1646.01% | |
44 Neutral | ₹12.49B | 13.46 | ― | ― | 33.99% | 11.65% |
* Financial Sector Average
IN:UGROCAP
Ugro Capital Limited
91.35
-77.98
-46.05%
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134.57%
Ugro Capital Limited Corporate Events
UGRO Capital Restructures MyShubhLife Deal to All-Cash Payout as Acquisition Nears Close
Mar 5, 2026
UGRO Capital has moved to close its acquisition of Datasigns Technologies, operator of the MyShubhLife platform, which it has already been using for 15 months to originate MSME and small merchant loans with assets under management of about ₹...
UGRO Capital Secures RBI Nod for Amalgamation of Profectus Capital
Feb 26, 2026
UGRO Capital has received a conditional ‘No Objection’ from the Reserve Bank of India for the proposed amalgamation of its wholly owned subsidiary, Profectus Capital Private Limited, into the parent company. The move is part of a large...
UGRO Capital Raises Rs. 50 Crore via Short-Term Unlisted Commercial Papers
Feb 25, 2026
UGRO Capital Limited has approved and completed the allotment of unlisted commercial papers amounting to Rs. 50 crore, with a face value of Rs. 5 lakh per instrument and an aggregate issue value of approximately Rs. 49.42 crore. The commercial pap...
UGRO Capital Releases Revised Q3 FY26 Investor Presentation on MSME Lending Business
Feb 7, 2026
UGRO Capital Limited has released a revised investor presentation covering the quarter and nine months ended 31 December 2025, in line with its disclosure obligations to stock exchanges. The updated presentation, made available to investors via th...
UGRO Capital Releases Revised Investor Presentation for Q3 and Nine Months FY26
Feb 7, 2026
UGRO Capital Limited has released a revised investor presentation for the quarter and nine months ended 31 December 2025, in line with disclosure requirements under SEBI’s Listing Obligations and Disclosure Requirements Regulations. The upda...
UGRO Capital Realigns MSME Lending Business to Boost Earnings Quality and Cut Costs
Feb 7, 2026
UGRO Capital has announced a strategic realignment of its business model aimed at improving earnings quality, operating efficiency and long-term capital sustainability, by shifting focus toward two core segments: emerging market secured lending th...
UGRO Capital Clears Q3 Results, Board Changes and Insider Trading Code Update
Feb 7, 2026
UGRO Capital’s board, at its meeting on 7 February 2026, approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, along with the statutory auditors’ limited review rep...
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.