About UGRO Capital Limited

UGRO Capital Limited is a Mumbai-headquartered non-banking financial company (NBFC), incorporated in 1993, specializing in financing India’s micro, small and medium enterprises (MSMEs) through a data-tech lending model blending advanced analytics with on-ground distribution. The company’s registered office is at Equinox Business Park, Kurla (West), Mumbai, and its equity shares are listed on BSE and NSE. UGRO’s lending platform uses proprietary underwriting (GRO Score 3.0) that analyzes banking, credit bureau, and GST data to enhance cashflow assessment and expedite credit decisions for MSMEs.

The company offers a diversified product suite tailored for working capital and growth needs, including Business Loans (secured and unsecured), Loan Against Property, Machinery & Equipment Financing, Supply Chain Finance, Doctor’s Loan, Educational Institutes (EDI) Loan, Retailer Finance, Green Asset Supply Chain Financing, Rooftop Solar Finance, and Electric Vehicle Financing. Its distribution channels include Emerging Market branches in smaller cities and towns, a Prime Intermediated Business channel, an Ecosystem and Green Asset channel with OEM and solar partners, and Direct & Digital Alliances including an embedded finance platform.

UGRO expanded its presence by adding 85 new branches in Tier-2 and Tier-3 locations in FY25, growing its non-metro footprint to 235 branches by March 2025. It has co-lending partnerships with 17 financial institutions and a lender base of 59, indicative of diversified liabilities and strong institutional relationships. As of March 31, 2025, UGRO employed 2,149 people. The company currently has no subsidiaries, although the Board and shareholders approved acquiring Datasigns Technologies Private Limited, a fintech embedded finance platform, which will become a subsidiary post regulatory approvals and conditions.

Key Milestones of UGRO Capital Limited

• Crossed Rs 12,000 crore in Assets Under Management (AUM) in FY25.
• Strengthened the technology-led underwriting framework with GRO Score patent granted on December 11, 2024.
• Accelerated expansion into non-metro markets via branch additions and co-lending scale-up.

UGRO Capital Limited Business Segment

UGRO operates principally as a data-driven NBFC offering working capital and growth credit solutions to MSMEs, deploying proprietary credit scoring and a diversified product portfolio including green and EV financing through multiple distribution channels.

The company focuses exclusively on MSME financing products across India, emphasizing penetration in Tier-2 and Tier-3 cities. Its geographic coverage encompasses a pan-India footprint with strong emphasis on emerging markets supported by a broad branch network and institutional partnerships.

UGRO Capital Limited Key Management

• Satyananda Mishra – Non-Executive Chairman and Independent Director
• Shachindra Nath – Vice Chairman & Managing Director
• Anuj Pandey – Chief Executive Officer
• Kishore Kumar Lodha – Chief Financial Officer
• Sunil Lotke – Chief Legal and Compliance Officer
• Amit Mande – Chief Revenue Officer
• Rajni Khurana – Chief People Officer
• Sharad Agarwal – Chief Operating Officer

Latest Updates on UGRO Capital Limited

• Expanded branch network to 235 non-metro locations, adding 85 new branches in FY25.
• Granted patent for GRO Score credit-scoring system, improving MSME underwriting timelines.
• AUM crossed Rs 12,000 crore, with 44% from Lending-as-a-Service and 42% from co-lending; broad lender base maintained.
• India Ratings upgraded instruments to IND A+ (Stable) and IND A1+ in July 2024; CRISIL reaffirmed rating of CRISIL A/Stable in March 2025.
• Completed Rs 1,265 crore equity raise via CCDs and warrants in FY25.
• Board and shareholders approved acquisition of Datasigns Technologies Private Limited, pending regulatory approvals.
• Raised over Rs 4,200 crore borrowings in FY25 with an average interest cost of 10.6% and maintained strong liability management.