Mangal Credit and Fincorp reported a 36.1% surge in net profit to Rs 4.07 crore for the quarter ended September 30, 2026. Revenue from operations climbed 34.3% to Rs 21.25 crore, supported by growth in its lending business. The company also confirmed it maintains 105%-125% security cover for its Rs 145 crore outstanding non-convertible debentures.
Mangal Credit and Fincorp Q2 Profit Grows 36% YoY
Revenue from operations reached Rs 21.25 crore with a net profit of Rs 4.07 crore.
Reader Takeaway: Strong double-digit revenue growth powers earnings, though NCD reliance requires ongoing monitoring of debt-to-equity and security ratios.
What just happened
Mangal Credit and Fincorp Limited released its financial results for the quarter ended September 30, 2026. The company reported a net profit of Rs 4.07 crore, marking a 36.1% increase compared to Rs 2.99 crore in the same quarter last year. Revenue from operations also showed significant momentum, rising 34.3% to Rs 21.25 crore.
Why this matters
The growth figures indicate improved operational efficiency and lending demand. The company also provided an update on its non-convertible debenture (NCD) profile. As of September 30, 2026, total outstanding NCDs stood at Rs 145 crore. The company clarified that all NCDs are fully secured with an exclusive charge over receivables, maintaining a security cover between 105% and 125%, which provides a layer of stability for debenture holders.
What changes now
The board of directors has confirmed full compliance regarding the utilization of issue proceeds from its recent debt issuances. Management has filed the necessary certificates confirming compliance with financial covenants and security cover requirements to regulatory authorities. This transparency is intended to reassure investors regarding the company's debt management practices.
Risks to watch
As an NBFC, Mangal Credit and Fincorp remains exposed to interest rate volatility and credit risk within its lending portfolio. While current security cover levels are reported as compliant, any potential deterioration in the quality of the underlying receivables could necessitate increased provisioning in future quarters.
Context metrics
For the half-year ended September 30, 2026, the company recorded a total revenue of Rs 43.41 crore and a net profit of Rs 9.76 crore. Basic Earnings Per Share (EPS) for the September quarter was reported at Rs 1.93.