SPANDANA SPHOORTY FINANCIAL LIMITED

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Investment Opportunity in Embassy Group Company

Earn up to 13.15% p.a.

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Invest in Gold Loan Backed Bonds from Muthoottu Mini Financiers Ltd.

Earn up to 11.25% p.a

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Investment Opportunity in Embassy Group Company

Earn up to 13.15% p.a.

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Invest in Gold Loan Backed Bonds from Muthoottu Mini Financiers Ltd.

Earn up to 11.25% p.a

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Returns (YTM)

13.08%

Min. Investment

₹ 98,778.69

Remaining Tenure

1Y 11M 9Days

Payment Terms

Monthly

Highlights

Credit Rating

IND BBB+/NEGATIVE

Seniority

SENIOR

Security

Secured

Default History

Zero

Marquee Investor : Private equity investor Kedaara Capital holds 48.2% stake; recent ₹400 Cr capital raise (₹200 Cr received in Q2 FY26) strengthens the balance sheet.

Adequate Capitalisation : CRAR of 36.4% & gearing of 2.1x as of Q2FY26 (vs 36.31% & 2.3x, as of FY25).

Diversified Funding profile : Term loans from Banks, NBFCs , capital market debt via NCDs, direct assignment (DA) & PTCs

Regulatory tailwind:RBI cut qualifying-asset requirement to 60% (from 75%), enabling MFIs to deploy up to 40% into diversified, higher-yield products.

Adequate Liquidity : ₹1,179 Cr on-book liquidity supported by ₹2,700 Cr scheduled collections, sufficient to meet ₹2,856 Cr debt obligations over next 12 months.

Company Financials

Revenue

PAT

Debt

Net Worth

Important disclaimer

Ratio Analysis

0.97

Net NPA

Good

Benchmark: Lower than 3%

36.31

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

2.3

Debt to Equity Ratio

Good

Benchmark: Maximum 12 times

-0.45

Interest Coverage Ratio

Risky

Benchmark: Minimum 2

Important disclaimer

About Issuer

Spandana Sphoorty Financial Limited is a major microfinance institution in India focused on providing small-value loans that help improve the lives of low-income households, especially women entrepreneurs. The company designs its micro-loan products to meet the evolving needs of rural and semi-urban borrowers, delivering financial services directly to their doorstep to reduce the effort and cost of accessing credit.

Spandana’s lending model emphasises group-based support and easy repayment options, helping customers build assets, increase income, and reduce dependence on informal moneylenders. Through this approach, it aims to support economic opportunity and financial inclusion in the communities it serves

Total Annual Revenue

Rs 2245 Cr (FY-2025)

Year of Inception

1998

Industry

NBFC Retail

Head Office

HYDERABAD

Type of Issuer

Corporate

Current MD/CEO

Mr. K. Venkatesh

Credit Rating / Outlook

BBB+ NEGATIVE

IND

Rating Rationale

Rating Date: 14-Oct-2025

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with BBB credit rating are considered to have a moderate to low degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry moderate to high credit risk, hence it is suitable for investors with high risk tolerance.
Negative Outlook indicates a higher likelihood of a rating downgrade, signaling potential weaknesses or adverse events that could weaken the issuer's credit position.

Other Important Details & Disclosures

Issuer Name

SPANDANA SPHOORTY FINANCIAL LIMITED

Security Name

11.25% SPANDANA SPHOORTY FINANCIAL LIMITED Secured Rated Listed NCD Maturity 17-Dec-2027

ISIN

Copy

INE572J07778

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

11.25%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

17-Dec-2027

Clean Price

₹ 98.93

Dirty Price

₹ 98.78

Current Yield

11.3714%

Yield to Maturity

13.0817%

Mode of Issue

Private Placement

Date of Issue

17-Dec-2025

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Catalyst Trusteeship Limited

GDA House,Plot No. 85, Bhusari Colony (Right), Paud Road, Pune - 411038

Registrar Details

KFin Technologies Private Limited

Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakrumguda, Hyderabad 500032

Looking For More Information ?

Download Prospectus

Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: KFin Technologies Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakrumguda, Hyderabad 500032

Unit

Investment Amount

₹ 98,778.69

Total Returns

₹ 12,910.52

Total Receivable

₹ 1,11,689.21

Cashflow Timeline

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FAQs about SPANDANA SPHOORTY FINANCIAL LIMITED bonds

How to buy this SPANDANA SPHOORTY FINANCIAL LIMITED bond online?

You can invest in bonds online in under 5 minutes. To buy SPANDANA SPHOORTY FINANCIAL LIMITED bond online follow the steps below:

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Pay online via payment gateway and receive bond units in your demat account

What is the yield of this SPANDANA SPHOORTY FINANCIAL LIMITED bond?

13.0817% is the current yield of this SPANDANA SPHOORTY FINANCIAL LIMITED bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this SPANDANA SPHOORTY FINANCIAL LIMITED bond is 13.0817%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this SPANDANA SPHOORTY FINANCIAL LIMITED bond?

To redeem this SPANDANA SPHOORTY FINANCIAL LIMITED bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this SPANDANA SPHOORTY FINANCIAL LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this SPANDANA SPHOORTY FINANCIAL LIMITED bond tax-free?

No, this SPANDANA SPHOORTY FINANCIAL LIMITED bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this SPANDANA SPHOORTY FINANCIAL LIMITED bond before the maturity date?

Yes, it is possible to sell this SPANDANA SPHOORTY FINANCIAL LIMITED bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

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Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 58,179.37

₹ 57,361.43

17 Feb	Interest ₹ 955.48	Interest ₹ 859.93
17 Mar (Part Maturity)	Interest ₹ 863.01 + ₹ 12,500 (12.5% of Principal)	Interest ₹ 776.71 + ₹ 12,500 (12.5% of Principal)
17 Apr	Interest ₹ 836.04	Interest ₹ 752.44
17 May	Interest ₹ 809.08	Interest ₹ 728.17
17 Jun (Part Maturity)	Interest ₹ 836.04 + ₹ 12,500 (12.5% of Principal)	Interest ₹ 752.44 + ₹ 12,500 (12.5% of Principal)
17 Jul	Interest ₹ 693.49	Interest ₹ 624.14
17 Aug	Interest ₹ 716.61	Interest ₹ 644.95
17 Sep (Part Maturity)	Interest ₹ 716.61 + ₹ 12,500 (12.5% of Principal)	Interest ₹ 644.95 + ₹ 12,500 (12.5% of Principal)
17 Oct	Interest ₹ 577.91	Interest ₹ 520.12
17 Nov	Interest ₹ 597.17	Interest ₹ 537.46
17 Dec (Part Maturity)	Interest ₹ 577.91 + ₹ 12,500 (12.5% of Principal)	Interest ₹ 520.12 + ₹ 12,500 (12.5% of Principal)

2027

₹ 53,509.85

₹ 53,158.86

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 11.25%. When the bond enters the staggered maturity cycle, it will be calculated based on the outstanding face value.

** The net interest receivable is after 10% TDS for Indian Residents. However for NRI 30% TDS is deducted. The deducted TDS can be claimed while filing ITR.

Highlights

Company Financials

Ratio Analysis

About Issuer