Whalesbook
Toh hua kya hai ki SMFG ne apni pure-owned Indian subsidiary SMFG India Credit mein ek aur ₹1,075 Crore ka paisa dala hai. Yeh investment ek rights issue ke through hua hai, jo dikhata hai ki SMFG ka India market par kitna strong focus hai. Waise, FY25 mein toh ₹4,300 Crore already aa chuke hain, aur yeh YES Bank mein $2.7 billion ka stake bhi isi bada plan ka hissa hai.
SMFG India Credit ke MD & CEO, Ravi Narayanan, ka kehna hai ki yeh funding unke liye next level growth ka key hai. Unki strategy hai 'sustainable, predictable growth', matlab solid execution aur agility ke saath aage badhna. Company ke 1,000 se zyada branches hain 670+ towns mein. Aur haan, recent performance bhi dhamakedar hai: December 31, 2025 tak Assets Under Management (AUM) 21% badh kar ₹64,100 crore ho gaya. Disbursements April-December 2025 mein 29% badh kar ₹39,500 crore tak pahunch gaya. March 31, 2025 ko consolidated AUM ₹56,989 crore tha, jo pichhle saal se 25% upar hai.
Abhi India ka NBFC sector zoron par hai, FY26 mein AUM 15-17% tak grow hone ka estimate hai, bank credit se bhi zyada tez. Lekin yahan challenges bhi kam nahi hain, jaise strict regulations aur asset quality ke issues, especially unsecured loans mein. RBI ne bhi April 1, 2026 se kuch naye rules laaye hain risk manage karne ke liye. Markets mein dekho toh Bajaj Finance aur Cholamandalam Investment jaise top NBFCs 27-34 ke P/E par trade kar rahe hain, jo SMFG ke parent se zyada hai. Iska matlab investors unse zyada growth expect karte hain, toh SMFG India Credit ko bhi apna market share badhane ke liye jabardast performance dikhana hoga.
Lekin bhai, sab kuch itna bhi smooth nahi hai. Company ka almost 52% loan portfolio unsecured hai (March 31, 2025 tak), jo income changes ke liye sensitive hai. Recent data mein rural Loan Against Property aur commercial vehicle loans mein defaults badhte dikh rahe hain. CV portfolio mein gross bad loans 5.3% tak pahunch gaye the FY26 ke pehle 9 mahine mein. Write-offs bhi 7.1% par high hain. Aur haan, parent SMFG ki capital position par bhi nazar rakhi ja rahi hai, kyunki global expansion aur YES Bank deal ke chakkar mein unka CET1 ratio tight ho sakta hai. RBI ke naye rules aur asset quality ko manage karna yahan sabse important hoga.
Overall, SMFG India Credit ke paas naye paison ke saath market share badhane ka achha mauka hai, aur parent company ka support bhi hai. Lekin unhein aggressive expansion ko risk management ke saath balance karna padega. NBFC sector mein growth toh hai, par regulatory compliance aur unsecured loans ko sambhalna bahut zaroori hai. Company ka success iss baat par depend karega ki woh asset quality aur operational challenges ko kitna achha manage kar paate hain, woh bhi badalte regulatory environment mein.