Niyogin Fintech reported a net profit of ₹5.1 crore for FY26, turning around from a loss. CRISIL Ratings revised its outlook to 'Stable' from 'Negative'.

Niyogin Fintech Reports Profitability, CRISIL Revises Outlook to Stable

Niyogin Fintech has reported a net profit of ₹5.1 crore for the fiscal year 2026. This marks a significant turnaround from a net loss of ₹9.8 crore in fiscal 2025.

Reader Takeaway: Profitability turnaround and stable credit outlook, but asset quality needs monitoring.

What just happened

Niyogin Fintech Limited has achieved a net profit of ₹5.1 crore for fiscal 2026. This is a significant improvement from the net losses of ₹9.8 crore in fiscal 2025 and ₹7.6 crore in fiscal 2024.

The company's total income increased to ₹118 crore in fiscal 2026, up from ₹78 crore in the previous year. Operating expenses as a percentage of average managed assets reduced to 14.9% from 16.5%.

CRISIL Ratings has reaffirmed Niyogin Fintech's long-term rating at 'CRISIL BBB-' and short-term rating at 'CRISIL A3'. Crucially, the rating agency revised the outlook on the long-term rating to 'Stable' from 'Negative'.

A new Non-Convertible Debenture (NCD) issuance of ₹50 crore has been assigned a 'CRISIL BBB-/Stable' rating.

Why this matters

The turnaround to profitability and the positive outlook revision by CRISIL are key indicators of improved financial health and reduced risk perception for Niyogin Fintech. This can potentially make it easier and cheaper for the company to raise funds in the future.

The backstory

Niyogin Fintech has been working to improve its financial performance. In fiscal years 2024 and 2025, the company reported net losses. The company is managing a legacy portfolio that is being written off.

What changes now

The 'Stable' outlook from CRISIL suggests that the rating agency believes the company's financial risk profile is likely to remain steady in the near to medium term. The reaffirmation of ratings provides comfort to the company's existing and potential creditors.

Risks to watch

Asset quality remains a key concern, with Gross Non-Performing Assets (GNPA) standing at 7.9% as of March 31, 2026. While this is a slight improvement from 8.4% in the previous year, elevated GNPA levels can impact credit costs.

The operational scale of the company is modest, which can lead to higher earnings volatility.

Peer comparison

While specific peer data is not provided in the filing, companies in the fintech lending space typically face scrutiny on asset quality and scalability. Niyogin's reported GNPA of 7.9% needs to be viewed against industry benchmarks.

Context metrics (time-bound)

• Net Profit/Loss: ₹5.1 crore (FY26) vs. (₹9.8 crore) (FY25)
• Total Income: ₹118 crore (FY26) vs. ₹78 crore (FY25)
• Total AUM: ₹336 crore (FY26) vs. ₹278.8 crore (FY25)
• Gross NPA: 7.9% (Mar-26) vs. 8.4% (Mar-25)
• Net Worth: ₹361 crore (Mar-26)
• Capital Adequacy Ratio: 60.1% (Mar-26)
• Gearing: 0.3 times (Mar-26 & Mar-25)

What to track next

Investors will be watching for sustained improvement in asset quality (reduction in GNPA) and the company's ability to scale its operations effectively while maintaining profitability.