Niyogin Fintech Ltd

Business overview

• iServeU payments technology and NFL NBFC lending form core business.
• Strategy centers on embedded/partner-led lending, SaaS monetization, and funding efficiency.

Operational highlights

• Order book ₹546 Cr across 45 contracts.
• Soundbox deployments 539K; 49K added in Q1 FY27.
• Recurring SaaS revenue ₹5.6 Cr; 62% of TSP/SaaS.
• iServeU net revenue ₹15.8 Cr; QoQ down from ₹21.1 Cr.
• NBFC AUM ₹332 Cr; QoQ down 6%.
• CRISIL upgraded NBFC rating to BBB Stable (June 2026).

Financial performance

• Consolidated net revenue ₹22.1 Cr in Q1 FY27.
• Consolidated gross income ₹66.8 Cr; QoQ -11%.
• Consolidated EBITDA ₹0.2 Cr; PBT ₹−6.2 Cr; PAT ₹−5.0 Cr.
• NBFC NII ₹10.2 Cr; NBFC AUM ₹332 Cr.
• iServeU EBITDA (Adjusted) ₹−0.5 Cr.
• Outstanding order book ₹546 Cr across 45 contracts.
• Recurring SaaS revenue ₹5.6 Cr; 62% recurring.

Balance sheet & liquidity

• Borrowings ₹90.0 Cr; down from ₹124.5 Cr QoQ.

Outlook & guidance

• Q2 FY27: iServeU net revenues ₹21-24 Cr; EBITDA 20-25%.
• FY27 iServeU net revenues guidance ₹100-115 Cr.
• FY27 NBFC AUM guidance ₹450-500 Cr.
• FY27 NBFC PBT guidance ₹8-10 Cr.
• AUM growth expected to accelerate from Q2 FY27.

Risks & mitigation

• Q1 underperformed guidance due to lower UPI volumes and device deployments.
• Focus on improving revenue conversion and operating leverage.
• Chip supply normalization expected to restore device availability.

Governance & leadership

• Board comprises independent directors; governance framework implied by listing.
• MD & CEO: Tashwinder Singh; CFO: Abhishek Thakkar.
• CRISIL upgrade cited for governance and financing discipline.

iServeU Highlights

• Q1 FY27 net revenue stood at ₹15.8 Cr.
• Recurring SaaS revenue rose to ₹5.6 Cr in Q1 FY27.
• Order book ~₹546 Cr across 45 contracts.
• Soundbox deployments reached ~539K units.

NBFC Highlights

• NBFC PBT (Ex-ESOP) ₹1.0 Cr in Q1 FY27.
• AUM stood at ₹332 Cr (including off-book exposure).
• Debt-to-equity below 1.0.

Consolidated Highlights

• Consolidated net revenue ₹22.1 Cr, down 8% YoY.
• Consolidated PBT (Ex-ESOP) ₹(6.0) Cr.
• Consolidated EBITDA ₹0.2 Cr.

Demerger status

• NCLT application filed for final demerger approval; SEBI, BSE and RBI approvals received.

iServeU performance and outlook

• Q1 FY27 net revenue stood at ₹15.8 Cr
• Order book ~₹546 Cr across 45 contracts
• Soundbox deployments ~539K units
• Recurring revenues rose to ₹5.6 Cr
• FY27 iServeU revenue target ₹100-115 Cr; EBITDA margin 25-30%

NBFC metrics

• NBFC Q1 FY27: AUM ₹332 Cr; PBT (Ex-ESOP) ₹1.0 Cr.

Consolidated results

• Consolidated net revenue: ₹22.1 Cr
• Consolidated PBT (Ex-ESOP): ₹-6.0 Cr

Auditor

• Approved re-appointment of M/s Pijush Gupta & Co. as Statutory Auditors for five years, subject to member approval.

Executive changes

• Ronak Shah redesignated as Deputy Chief Financial Officer, effective Aug 14, 2026.
• Jayesh Poojari appointed Chief Audit Officer (Internal Auditor), effective Aug 14, 2026.
• Abhishek Thakkar's appointment as Whole-time Director not pursued.

Strategic/disposal actions

• Approved sale of Investdirect Capital Services Private Limited (58% equity and CCPs), subject to shareholders' approval; cease control.
• Post-sale, Investdirect will not be controlled, and Moneymap will cease to be a step-down subsidiary.

Price movement clarification

• No information warrants disclosure under SEBI Listing Regulations as of date.
• Company will not comment on price movements; shares are freely traded.

Meeting Details

• Date: August 13, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve unaudited standalone and consolidated financial results for quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 1, 2026 until 48 hours after results declaration.

Resignation from subsidiary

• Resignation of Mr. Nitin Jaiswal as Independent Director of Investdirect Capital Services Private Limited, a material subsidiary.
• Effective date: close of business hours on July 16, 2026.
• Reason: pre-occupation and other professional commitments.
• Resigning director holds Independent Director and Audit Committee membership at Investdirect.
• Letter of resignation enclosed as Annexure B.
• Annexure A provides the required regulatory disclosures.
• The information is available on the company's website.