Ugro Capital Limited (IN:UGROCAP)
:UGROCAP
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Ugro Capital Limited
(UGROCAP)
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Rating:49Neutral
Price Target:
₹98.00
▼(-40.75% Downside)
Action:Reiterated
Date:04/22/26
The score is primarily weighed down by high leverage and historically unstable cash generation, with additional caution from mixed operating profitability signals. Technicals offer some near-term support (positive MACD, RSI ~61), but the longer-term trend remains weak (below 100/200 DMA). Valuation cannot be strongly assessed due to missing/zeroed P/E and absent dividend yield.
Positive Factors
Sustained revenue growth
Consistent top-line expansion and a step-change in scale since 2023 indicate durable demand for UGRO's MSME lending. A growing loan book supports interest income and fee generation, providing a foundation for margin recovery and future profitability if credit costs remain controlled.
Negative Factors
Elevated leverage (debt-to-equity ~3.55x)
Very high leverage increases sensitivity to rising funding costs and credit shocks for an NBFC reliant on wholesale borrowings. Elevated debt limits financial flexibility, raises refinancing risk during stress, and magnifies earnings volatility if loan losses increase.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Consistent top-line expansion and a step-change in scale since 2023 indicate durable demand for UGRO's MSME lending. A growing loan book supports interest income and fee generation, providing a foundation for margin recovery and future profitability if credit costs remain controlled.
Read all positive factors
Ugro Capital Limited (UGROCAP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.08B
Dividend YieldN/A
Average Volume (3M)20.96K
Price to Earnings (P/E)6.6
Beta (1Y)1.48
Revenue Growth39.48%
EPS Growth-8.51%
CountryIN
Employees1,678
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)15.67
Shares Outstanding155,196,440
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)14.05
Revenue Forecast (FY)₹11.39B
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
62
Positive
Balance Sheet
44
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.87B | 14.74B | 9.64B | 7.07B | 4.88B | 2.68B |
| Gross Profit | 3.34B | 2.23B | 1.29B | 995.24M | 678.77M | 624.11M |
| EBITDA | 3.83B | -140.04M | 2.62B | 2.19B | 1.07B | 348.23M |
| Net Income | 1.55B | 1.75B | 1.44B | 1.19B | 397.76M | 145.51M |
Balance Sheet | ||||||
| Total Assets | 107.79B | 140.75B | 91.68B | 62.80B | 43.06B | 28.54B |
| Cash, Cash Equivalents and Short-Term Investments | 15.99B | 18.25B | 5.53B | 883.64M | 2.12B | 1.60B |
| Total Debt | 80.88B | 108.68B | 69.04B | 46.53B | 31.49B | 18.31B |
| Total Liabilities | 83.16B | 111.69B | 71.22B | 48.42B | 33.22B | 18.88B |
| Stockholders Equity | 24.63B | 29.06B | 20.46B | 14.38B | 9.84B | 9.67B |
Cash Flow | ||||||
| Free Cash Flow | -669.50M | 1.71B | -25.00B | -15.38B | -12.61B | -11.46B |
| Operating Cash Flow | -556.27M | 2.14B | -24.74B | -15.35B | -12.20B | -11.32B |
| Investing Cash Flow | -3.88B | -19.64B | -799.24M | -2.30B | -845.42M | 413.80M |
| Financing Cash Flow | 15.07B | 27.51B | 26.55B | 18.14B | 12.79B | 10.23B |
Ugro Capital Limited Technical Analysis
Negative
165.40
Price Trends
99.66
Negative
124.07
Negative
149.07
Negative
Market Momentum
-1.56
Positive
41.10
Neutral
10.79
Positive
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 104.67, above the 50-day MA of 99.66, and above the 200-day MA of 149.07, indicating a bearish trend. The MACD of -1.56 indicates Positive momentum. The RSI at 41.10 is Neutral, neither overbought nor oversold. The STOCH value of 10.79 is Positive, 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 | ₹34.04B | 23.82 | ― | 0.92% | 6.45% | 18.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | ₹14.83B | 4.34 | ― | ― | 34.93% | -65.44% | |
61 Neutral | ₹18.07B | 18.43 | ― | ― | -6.16% | -68.64% | |
59 Neutral | ₹30.61B | 24.60 | ― | ― | -3.48% | ― | |
49 Neutral | ₹15.08B | 6.63 | ― | ― | 39.48% | -8.51% | |
47 Neutral | ₹22.59B | -2.02 | ― | ― | -56.02% | 33.35% |
* Financial Sector Average
IN:UGROCAP
Ugro Capital Limited
98.15
-86.96
-46.98%
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78.30%
Ugro Capital Limited Corporate Events
UGRO Capital Reshapes Senior Operations Leadership After COO-CTO Exit
May 5, 2026
UGRO Capital has announced a change in its senior management, with Chief Operations Technology Officer Sharad Agarwal resigning and serving his notice period to ensure a smooth transition. The company has elevated existing Head of Operations and ...
Ugro Capital Explains Absence of Prior-Year Consolidated Figures in FY26 Results
May 4, 2026
Ugro Capital has clarified why its audited consolidated financial results for the quarter and year ended 31 March 2026 do not include comparative figures for the previous year’s consolidated balance sheet and cash flow statement. The company...
Ugro Capital files FY26 investor presentation on MSME lending performance
Apr 20, 2026
Ugro Capital Limited has submitted an investor presentation to the stock exchanges covering its results for the quarter and full financial year ended 31 March 2026. The presentation, which highlights the company’s data-tech led MSME lending ...
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...
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.