1. At a Glance
Unifinz Capital India Ltd is what happens when a sleepy NBFC wakes up one fine morning, downloads a fintech app template, names it Lendingplate, and decides to sprint instead of jog. The stock trades at ₹98, market cap around ₹434 crore, after a sharp –26% one-year return, even as profits are doing bhangra.
Latest Q3 FY26 numbers look spicy: ₹148 crore revenue, ₹27.1 crore PAT, and a YoY profit growth that reads like a typo (+341%). Full-year TTM PAT stands at ₹75.3 crore, EPS at ₹17, and the valuation multiple is a jaw-dropping P/E of 5.76x.
ROE? 49.4%.
ROCE? 47.1%.
Debt? ₹133 crore, climbing faster than a Mumbai local at peak hour.
This is a micro-cap NBFC with macro-level confidence. But is it sustainable lending genius, or a leverage-powered sugar rush? Let’s investigate like a detective who has seen too many NBFC balance sheets lie under oath.
2. Introduction
Unifinz Capital has been around longer than most investors think. Incorporated ages ago, it spent most of its life doing… well… nothing memorable. Then fintech arrived, credit hunger exploded, and Unifinz decided to reinvent itself as a digital personal loan machine.
Enter Lendingplate — instant loans, salaried customers, ₹10,000 to ₹2.5 lakh ticket sizes, short tenures, fast approvals, and algorithmic credit scoring. Basically, the “salary aa gaya, EMI bhi aa jayega” business model.
From FY22 to FY25, revenue jumped from ₹2 crore to ₹405 crore. PAT went from losses to ₹75 crore. That’s not growth; that’s teleportation.
But remember: NBFC stories are never just about growth. They’re about credit discipline, funding stability, governance, and whether tomorrow’s NPAs are hiding under today’s EBITDA margins.
So let’s open the files.
3. Business Model – WTF Do They Even Do?
Unifinz is a Non-Systemically Important, Non-Deposit Taking NBFC, which means:
- No public deposits
- Borrow money
- Lend
- money
- Pray collections behave
Core Business
- Short-tenure personal loans to salaried customers
- Fully digital onboarding
- Algorithm-based underwriting
- Revenue primarily from interest income + processing fees
Loan tenures range from 3 to 15 months, which means fast churn, fast collections, and theoretically lower duration risk — provided credit assessment isn’t drunk on growth.
Geographic Reach
- Present in 224 cities
- Combination of branches + online platform
FY23 Snapshot
- Loan disbursements: ₹10.49 crore, up ~120% YoY
(That number has since exploded, judging by FY25 revenue)
In simple words:
Unifinz is a high-velocity, small-ticket, short-duration digital lender. The model works brilliantly in good times. In bad times? That’s when auditors earn their fees.
4. Financials Overview
Quarterly Performance (Q3 FY26 – Quarterly Results)
| Metric | Latest Qtr (Q3 FY26) | YoY Qtr | Prev Qtr | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue (₹ Cr) | 148 | 37 | 129 | 296% | 14.7% |
| EBITDA / Financing Profit (₹ Cr) | 38 | 9 | 33 | 322% | 15.2% |
| PAT (₹ Cr) | 27.1 | 6 | 24 | 341% | 12.8% |
| EPS (₹) | 6.11 | 1.88 | 5.43 | 225% | 12.5% |
Yes, growth is explosive. But remember: EPS is quarterly, not annualised yet.
Annualised EPS (Q3 rule):
Average of Q1, Q2, Q3 EPS × 4
→ Already reflected in TTM EPS of ₹17
Commentary:
- Revenue scaling faster than your Zomato bill
- Margins holding despite growth — rare for NBFCs
- PAT consistency improving quarter by quarter
Question for you: How many NBFCs do you know growing this fast without margin collapse?
5. Valuation Discussion – Fair Value Range
Method 1:
