Spandana Sphoorty Financial Ltd
We hereby inform that Care Rating Limited has reaffirmed the rating of the Company.
RATING
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 03 Jul 2026, 05:04 PM IST · BSE ID: 8e027953-c018-4d30-967d-6ef9f3feb5fa
View Original BSE Filing (PDF)
💡
In Simple Terms
The company's creditworthiness for its borrowings was reaffirmed by a rating agency, indicating stability in its financial health.
🤖 AI Summary
- Spandana Sphoorty's Rs 1,780 Crore debt facilities reaffirmed at CARE BBB+; Stable by Care Ratings.
- Long-term bank facilities of Rs 800 Crore and NCDs totaling Rs 980 Crore received stable outlook.
- Commercial paper rating maintained at CARE A2, reaffirming short-term creditworthiness.
- Rating reflects adequate capitalisation, experienced management, and diversified lending portfolio.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Long-term bank facilities
800.00 Rs. Crore
Non-convertible debentures
280.00 Rs. Crore
Non-convertible debentures
450.00 Rs. Crore
Non-convertible debentures
150.00 Rs. Crore
Commercial paper
100.00 Rs. Crore
Consolidated capital adequacy ratio
35.9%
Assets Under Management (March 31, 2026)
4,420 Rs. Crore
🏢 How This Affects the Company
Reaffirmation of credit ratings can support the company's ability to access debt markets at favourable terms, potentially reducing borrowing costs.
Stable credit ratings indicate perceived lower financial risk by a credit rating agency, which can enhance lender confidence.
👥 What This Means For Shareholders
✅
Action Required
No action is required by shareholders based on this rating reaffirmation announcement.
👤
Who Is Affected
All shareholders are indirectly affected as stable credit ratings can contribute to the company's financial stability and borrowing capacity.
🔍
Management Signal
Management continues to focus on credit quality and operational recovery to maintain and improve financial standing.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Monitoring AUM growth trajectory in upcoming quarterly results.
Tracking collection efficiency and asset quality indicators.
Reviewing profitability trends post Q4 FY26 marginal net profit.
MEDIUM RISK
Ratings reaffirmed but acknowledge past losses, net worth erosion, and AUM decline.
💡 Investor Takeaway
Spandana Sphoorty's Rs 1,780 Crore debt facilities affirmed at CARE BBB+; Stable. Recent operational improvements and capitalisation support the rating.
⚖️ Strengths & Concerns
✅ Positives
- Consolidated capital adequacy ratio at 35.9% and moderate gearing of 2.8x as of March 31, 2026.
- Gross stage-3 and net stage-3 loans declined to 4.2% and 0.9% respectively as of March 31, 2026.
⚠️ Concerns
- Loss-making operations in FY25 and FY26 led to significant tangible net worth reduction.
- AUM declined from Rs 11,973 crore (March 31, 2024) to Rs 3,940 crore (December 31, 2025) before recovering to Rs 4,420 crore (March 31, 2026).
📅 Company Track Record
In June 2026, ICRA Ratings reaffirmed Spandana Sphoorty's Rs 1,523 Crore debt rating at BBB+ with a Stable outlook.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What credit rating did Care Ratings reaffirm for Spandana Sphoorty Financial?
Care Ratings reaffirmed the rating of CARE BBB+; Stable for Spandana Sphoorty Financial's long-term bank facilities and non-convertible debentures.
What is the total value of debt facilities reaffirmed by Care Ratings for Spandana Sphoorty Financial?
The reaffirmed debt facilities include Rs 800.00 Crore of long-term bank facilities and Rs 980.00 Crore of non-convertible debentures.
What is Spandana Sphoorty Financial's commercial paper rating reaffirmed by Care Ratings?
Care Ratings reaffirmed Spandana Sphoorty Financial's commercial paper rating at CARE A2.
What factors did Care Ratings cite for reaffirming Spandana Sphoorty's ratings?
Ratings factors include adequate capitalisation (35.9% CAR), experienced management, and an improving risk management framework.
Questions based on this BSE filing only. For information purposes.