Ugro Capital Limited has announced the withdrawal of credit ratings for its Non-Convertible Debentures (NCDs) amounting to ₹156.28 crore. The rating agency, Acuite Ratings & Research Limited, has withdrawn the long-term rating of ‘ACUITE A’ on ₹107.00 crore NCDs and also withdrawn the rating on another ₹49.28 crore NCDs. The withdrawal is based on a request from the issuer, with No Objection Certificates (NOCs) received from the debenture trustee, in accordance with Acuite's withdrawal policy. The removal from Rating Watch is attributed to the completion of Ugro Capital's acquisition of Profectus Capital, which received RBI approval on September 17, 2025. This acquisition is expected to increase the combined entity's Assets Under Management (AUM) to approximately ₹15,400 crore, marking a 29% growth and shifting the asset mix to a 75:25 secured to unsecured ratio. As of March 31, 2025, Ugro Capital's outstanding portfolio grew to ₹12,002.83 crore from ₹9,047.06 crore in the previous year. The company's Net Worth stood at ₹2,046.39 crore, with gearing at 3.37 times. The reported Gross NPA was 2.35% and Net NPA was 1.32% as of March 31, 2025. The company's earnings profile reflects a Return on Average Assets (RoAA) of 1.86% for FY25.
