| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| ICL Fincorp Limited |
|
Particulars |
31-03-2026 |
31-03-2025 |
|
Financial Assets |
|
|
|
Cash and cash equivalent |
13.75 |
37.94 |
|
Bank balances other than cash |
40.96 |
11.92 |
|
Loans |
972.70 |
657.33 |
|
Investment |
6.74 |
18.69 |
|
Other financial assets |
82.84 |
42.52 |
|
Non-Financial Assets |
|
|
|
Current tax assets |
3.34 |
2.45 |
|
Deferred tax assets |
7.50 |
6.11 |
|
Plant, property and equipment |
50.68 |
46.88 |
|
Capital work in progress |
- |
- |
|
Right of use assets |
12.68 |
12.42 |
|
Goodwill |
4.48 |
4.48 |
|
Other intangible assets |
0.84 |
0.84 |
|
Other non financial assets |
18.17 |
11.34 |
|
Total assets |
1,214.70 |
852.92 |
|
Equity |
|
|
|
Equity share capital |
75.46 |
58.19 |
|
Other equity |
87.80 |
57.23 |
|
Non controlling interest |
3.39 |
4.60 |
|
Financial Liabilities |
|
|
|
Trade payable – outstanding dues of micro and
small enterprises |
0.05 |
0.35 |
|
Trade payables – outstanding dues other than
above |
1.81 |
4.10 |
|
Debt securities |
663.46 |
461.22 |
|
Borrowing |
149.53 |
87.63 |
|
Subordinated liabilities |
146.77 |
97.37 |
|
Lease liabilities |
13.88 |
13.23 |
|
Other financial liabilities |
60.61 |
59.08 |
|
Non Financial Liabilities |
|
|
|
Provisions |
9.58 |
8.07 |
|
Other non financial liabilities |
2.36 |
1.83 |
|
Total equity and liabilities |
1,214.70 |
852.92 |
|
Particulars |
31-03-2026 |
31-03-2025 |
|
Income |
|
|
|
Revenue from Operations |
243.57 |
190.02 |
|
Other Income |
0.17 |
1.66 |
|
Total Income |
243.74 |
191.69 |
|
Expenses |
|
|
|
Finance cost |
101.24 |
71.75 |
|
Impairment on financial instrument |
1.75 |
-1.65 |
|
Employee benefit expense |
57.92 |
45.30 |
|
Depreciation & amortization expense |
16.17 |
15.07 |
|
Other Expenses |
60.04 |
56.11 |
|
Total Expenses |
237.13 |
186.59 |
|
Profit/(loss) before tax |
6.61 |
5.10 |
|
Current Tax expenses |
4.01 |
3.65 |
|
Provisions for previous years |
-0.44 |
0.15 |
|
Deferred tax expense |
-1.23 |
-1.15 |
|
Profit/ Loss for the period |
4.28 |
2.44 |
|
Other comprehensive income for the year |
|
|
|
Items that will not be classified to profit/loss |
|
|
|
Remeasurement gain/(loss) on defined benefit plan |
-0.58 |
0.05 |
|
Income tax relating to items above |
0.16 |
-0.02 |
|
Total comprehensive income for the year |
3.85 |
2.47 |
|
Earning per share |
|
|
|
Basic |
0.57 |
0.42 |
|
Diluted |
0.57 |
0.42 |
|
Particulars |
31-03-2026 |
31-03-2025 |
|
Cash Flow from Operating Activities |
|
|
|
Net Profit/(loss) Before Tax |
6.61 |
5.10 |
|
Adjustment for -: |
|
|
|
Depreciation and
amortisation expense |
16.17 |
15.07 |
|
Impairment on financial
instrument |
1.75 |
-1.65 |
|
Provision on gratuity |
0.95 |
0.57 |
|
Provision for loss on
account of fraud |
-0.18 |
0.04 |
|
Provision on TDS
default |
0.02 |
- |
|
Current investment due
to market fluctuation |
0.26 |
-0.99 |
|
Finance cost |
2.24 |
1.99 |
|
Interest on fixed
deposits |
-2.42 |
-0.41 |
|
Dividend on investment |
-0.08 |
-0.09 |
|
Lease payment |
7.06 |
6.80 |
|
Sale of PPE |
- |
- |
|
Sale of investment |
0.07 |
-0.09 |
|
Adjustment for change in working capital |
|
|
|
Non financial assets |
-6.83 |
3.81 |
|
Loans |
-317.12 |
-177.41 |
|
Investment |
11.94 |
-12.00 |
|
Current tax assets |
-4.02 |
-0.87 |
|
Other financial assets |
-40.32 |
-2.43 |
|
Trade payables |
-2.60 |
0.28 |
|
Other financial liabilities |
1.52 |
6.84 |
|
Lease liabilities |
0.64 |
-3.98 |
|
Other non financial liabilities |
0.53 |
0.24 |
|
Cashflow generated from operations |
-323.81 |
-159.16 |
|
Direct taxes paid |
- |
- |
|
Net Cash from/(used in) Operating Activities |
-323.81 |
-159.16 |
|
Cash Flow from Investing Activities |
|
|
|
Sale of investment |
-0.07 |
0.09 |
|
Current investment due to market fluctuation |
-0.25 |
0.99 |
|
Purchase of PPE |
-13.86 |
-8.74 |
|
Dividend on investment |
0.08 |
0.09 |
|
Interest on fixed deposits |
2.42 |
0.41 |
|
Purchase of intangible assets |
-0.20 |
-0.63 |
|
Sale of PPE |
- |
- |
|
Bank balances not considered as cash and cash
equivalent |
-29.05 |
-6.90 |
|
Net Cash from / (used in) Investing Activities |
-40.93 |
-14.70 |
|
Cash Flow from Financing Activities |
|
|
|
Proceeds from debt securities |
202.24 |
83.92 |
|
Proceeds from borrowing |
61.90 |
41.32 |
|
Proceed from subordinated liabilities |
49.40 |
60.70 |
|
Finance cost |
-2.24 |
-1.99 |
|
Proceeds from issue of equity shares |
43.20 |
20.98 |
|
Payment on preference dividend |
-0.71 |
-0.42 |
|
Lease payment |
-7.06 |
-6.80 |
|
Right to use assets |
-6.18 |
-1.01 |
|
Net Cash from/(used in) Financing Activities |
340.55 |
196.70 |
|
Net Increase/decrease in Cash & cash
equivalents |
-24.19 |
22.84 |
|
Cash and cash equivalents at the beginning of the
year |
37.94 |
15.10 |
|
Cash and cash equivalents at the end of the year |
13.75 |
37.94 |
Summary of the Cash Flow Statement for the years 2026 and 2025:
Cash Flow from Operating Activities
The company reported a Profit Before Tax (PBT)
of ₹6.61 crore in FY2025-26 compared to ₹5.10 crore in
FY2024-25, reflecting improved profitability. However, despite positive
earnings, operating cash flow remained significantly negative at ₹323.81
crore, compared to a negative ₹159.16 crore in the previous
year. Non-cash adjustments such as depreciation and amortization (₹16.17
crore), finance costs (₹2.24 crore), impairment provisions (₹1.75 crore), and
lease-related expenses supported cash generation. The major reason for the
negative operating cash flow was the substantial increase in lending activity,
as loans expanded by ₹317.12 crore during
the year compared to ₹177.41 crore in FY2024-25. Additionally, increases in
non-financial assets (₹6.83 crore), other financial assets (₹40.32 crore), and
current tax assets (₹4.02 crore) further consumed cash. Although investments
reduced by ₹11.94 crore, partially offsetting the outflow, the aggressive
growth in the loan book led to a significant cash drain from operations. This
pattern is common for rapidly expanding NBFCs where loan disbursements exceed
collections and earnings.
Cash Flow from Investing Activities
Net cash used in investing activities increased sharply
to ₹40.93 crore from ₹14.70 crore in the previous
year. The major contributors were the placement of ₹29.05
crore in bank balances not considered cash equivalents and
capital expenditure of ₹13.86 crore towards property, plant, and
equipment (PPE), compared to ₹8.74 crore in FY2024-25. The
company also invested ₹0.20 crore in intangible assets. These outflows were
partially offset by interest income from fixed deposits (₹2.42 crore) and
dividend income (₹0.08 crore). The higher investment-related cash outflow
indicates ongoing expansion of infrastructure and treasury deployment,
reflecting management’s focus on strengthening operational capacity and
maintaining liquidity reserves.
Cash Flow from Financing Activities
Financing activities remained the primary source of
liquidity, generating ₹340.55 crore during
FY2025-26 compared to ₹196.70 crore in FY2024-25. The company significantly
increased fund raising through debt securities (₹202.24 crore),
borrowings (₹61.90 crore), and subordinated liabilities (₹49.40 crore).
Additionally, equity issuance contributed ₹43.20 crore,
more than double the ₹20.98 crore raised in the previous year. These inflows
were partially offset by finance costs (₹2.24 crore), lease payments (₹7.06
crore), right-to-use asset obligations (₹6.18 crore), and preference dividend
payments (₹0.71 crore). The strong financing inflows demonstrate the company 's
ability to access multiple funding sources to support its expanding loan
portfolio and business growth.
Net Increase/Decrease in Cash & Cash Equivalents
Despite substantial financing inflows, cash and cash
equivalents declined by ₹24.19 crore during
FY2025-26, compared to an increase of ₹22.84 crore in FY2024-25. The decline
occurred because cash consumed by operating activities and investing activities
exceeded the funds raised through financing. Consequently, cash and cash
equivalents reduced from ₹37.94 crore at the beginning of the year to
₹13.75 crore at year-end. While the reduction in cash balance
reflects aggressive business expansion and investment activities, the company 's
ability to secure significant external funding suggests that liquidity
requirements are currently being supported through capital market borrowings,
debt instruments, and equity infusions rather than internal cash generation.
