Shalibhadra Finance Ltd — Important, 28-03-2026: Company Update

Shalibhadra Finance Limited has secured an [ICRA]BBB- (Stable) credit rating for its Non-convertible debentures (NCDs) amounting to Rs. 20 crore. ICRA also reaffirmed the [ICRA]BBB- (Stable) rating for its existing long-term fund-based facilities of Rs. 40 crore, bringing the total rated amount to Rs. 60 crore. This rating reflects the company's established track record in two-wheeler financing, comfortable capitalisation with a gearing of 0.3x, and healthy profitability (RoA of 8.9% in FY2025). Challenges include a modest scale of operations, monoline business, and moderate asset quality.