NBFC

InCred Holdings · Standalone and consolidated audited financial statements FY2025, InCred Holdings Limited (formerly KKR Capital Markets India Private Limited)

InCred Holdings Limited (CIN U67190MH2011PLC211738) reported FY25 consolidated revenue of ₹1,874 Cr, up 47% from ₹1,273 Cr the prior year, and consolidated PAT of ₹373 Cr, up 21% from ₹309 Cr. The entity's legal name was formerly KKR Capital Markets India Private Limited; the FY25 audit is filed under the renamed entity. The consolidated group includes the InCred Finance lending business and other group subsidiaries. Total assets grew 43% to ₹12,500 Cr; borrowings expanded ₹3,341 Cr to ₹8,359 Cr (+67%). Operating cash flow at -₹2,816 Cr reflects the loan-book expansion that characterises an Ind AS NBFC group during growth phases. The standalone is the holding entity itself with ₹2,961 Cr of investments in subsidiaries; the operating business lives in the consolidated group.

Stashfin · Standalone audited financial statements FY2025, Akara Capital Advisors Private Limited (operating brand: Stashfin)

Stashfin's FY25 audit records a loan book of ₹1,675 Cr, up 19.5% from ₹1,402 Cr the prior year. Impairment on financial instruments fell to ₹324 Cr from ₹495 Cr, a 35% reduction. Profit after tax grew 27% to ₹84.84 Cr (from ₹66.83 Cr). The revenue picture is mixed: total revenue from operations fell 9.8% as fees and commission income contracted while interest income grew. Total borrowings expanded 17% to ₹1,041 Cr, with debt securities nearly doubling to ₹336 Cr. The filing records each of these as the FY25 outcome; the audit does not disaggregate whether the 35% impairment reduction reflects improved credit performance, ECL model recalibration, or a mix of both.

Navi · MCA audited annual filing FY2025 (consolidated + standalone)

Navi's FY2024 profit of ₹358 Cr included ₹189 Cr from selling Chaitanya Microfin and a ₹614 Cr other income line that carried most of that gain. Continuing-operations PAT in FY2024 was ₹168 Cr once stripped. FY2025 removes the cushion: other income collapsed 79.8% and continuing-operations PAT swings to -₹126 Cr, a ₹295 Cr reversal in twelve months. Revenue grew 17.7% to ₹2,565 Cr. The IPO filed in March 2022 has expired. The promoter still owns 98.36%.