Spandana Sphoorty Financial Limited — Credit Ratings, 19-12-2025: Credit Rating

CARE Ratings reaffirmed and assigned Spandana Sphoorty's long-term instruments at CARE BBB+ (Stable) and reaffirmed Commercial Paper at CARE A2. Strengths include adequate capitalisation and liquidity. However, ratings are constrained by weak profitability, a ₹609 Cr net loss in H1FY26, deteriorated asset quality, and declining business scale.