Viji Finance Reports Strong FY26 Profit Growth, Auditor Raises Loan Repayment Question

Viji Finance's net profit for FY26 reached ₹197.46 lakh (₹1.97 crore), a significant increase from ₹16.87 lakh (₹0.17 crore) in FY25. Revenue from operations rose to ₹508.17 lakh (₹5.08 crore) from ₹232.51 lakh (₹2.33 crore) in the previous year.

What Just Happened

Viji Finance Limited announced its audited financial results for the fiscal year and quarter ending March 31, 2026. The company posted a net profit of ₹197.46 lakh for FY26, a tenfold increase compared to ₹16.87 lakh in FY25.

Total revenue from operations for FY26 stood at ₹508.17 lakh, nearly doubling from ₹232.51 lakh in the previous fiscal year. Profit Before Tax (PBT) also rose substantially to ₹264.11 lakh from ₹21.66 lakh.

The company's statutory auditors, Dharmendra K Agarwal & Co., issued a clean report, confirming that the financial statements present a true and fair view.

Key Developments and Risks to Watch

The substantial profit growth and doubled revenue indicate a strong operational performance for Viji Finance in FY26. However, a note from the auditors highlights a key concern requiring investor attention.

The auditors flagged a ₹1.45 crore loan repayment made by a director acting as a guarantor. The concern stems from the unverified source of these funds, which could point to potential issues like evergreening or underlying financial stress for the borrower. The company will need to address this point with clarity.

Company Background and Recent Moves

Viji Finance Ltd, established in 1994, operates as a Non-Banking Financial Company (NBFC) in India. It formerly operated under the name Panjon Finance Ltd.

Recently, on April 23, 2026, shareholders approved plans to issue 12.75 crore warrants worth approximately ₹35.70 crore to non-promoter investors. This capital-raising effort aims to strengthen the company's financial base and support future growth.

What Investors Should Monitor

Shareholders should expect Viji Finance to report significantly improved profitability for FY26.
The company faces the task of providing clear clarifications regarding the auditor's note on the director's loan repayment.
The planned capital infusion through warrants, if completed, could strengthen the company's financial standing and support growth initiatives.

Peer Comparison

While Viji Finance achieved impressive percentage growth, its absolute profit figures remain substantially smaller than larger NBFC peers. For FY26, Viji Finance reported ₹1.97 crore in net profit. In contrast, major NBFCs like Bajaj Finance reported ₹11,958 crore and Shriram Finance ₹10,004 crore in FY25 net profit. Muthoot Finance reported ₹8,653 crore in FY25. This comparison highlights Viji Finance's position as a smaller entity in the NBFC sector.

Key Financial Metrics

• Viji Finance's Net Profit increased by 1068.5% year-over-year from ₹0.17 crore in FY25 to ₹1.97 crore in FY26 (Standalone).
• Revenue from Operations grew by 118.5% year-over-year from ₹2.33 crore in FY25 to ₹5.08 crore in FY26 (Standalone).

What to Watch Next

• Management's detailed explanation and planned actions regarding the auditor's concern on the ₹1.45 crore loan repayment.
• Future guidance and growth outlook for FY27.
• Progress on the recently approved warrant issuance for capital infusion.