Investment Overview

Incred Holdings Limited is an unlisted company operating in the Financials sector (Financial Services). InCred Holdings Limited anchors the InCred Group’s lending, wealth and asset management businesses. The platform serves retail, MSME and student segments through InCred Financial Services while offering investment products via InCred Capital and InCred Asset Management. Corporate communications high…

Strengths

• Solid Expansion: Rapid revenue and PAT growth indicate a robust economic trajectory and effective business growth.
• Stable NPAs: Maintaining NPAs at 2.1% ensures substantial risk management and loan book quality.
• Technological Edge: Advanced analytics and digital platforms enhance lending efficiency and customer experience.

Key Risks

• High Borrowings: Liabilities rose from ₹2,816 Cr (2022) to ₹5,017 Cr (2024), increasing economic leverage risks.
• Negative Other Income (2023): A ₹45 Cr loss in 2023 suggests volatility in non-core revenue streams.
• Declining Cash Reserves: Cash balances dropped from ₹393 Cr (2023) to ₹168 Cr (2024), impacting liquidity.

Valuation View

The current unlisted market price is ₹147.51 per share with a market capitalisation of approximately ₹9774 crore. The company is currently unlisted and investors should factor in illiquidity risk and longer holding horizons. Investors are advised to review the full financial data and consult an advisor before investing.