Shalibhadra Finance reports strong growth, leadership changes

Shalibhadra Finance Limited, an NBFC serving rural and semi-urban areas of western India, released its annual report for the fiscal year ended March 31, 2025, showing substantial growth. Total income reached INR 36.49 crores, an 11.32% increase from the previous year's INR 32.78 crores. Net profit after tax also saw a significant jump of 33.67% to INR 16.00 crores, up from INR 11.97 crores in FY24. The company’s assets under management grew to INR 176 crores, and total assets reached INR 195 crores. The dividend per share is INR 0.40, following a bonus issue.

The company's board will see several changes. Minesh Doshi will step down as managing director to become a non-executive director. Vatsal Doshi is proposed to be appointed as the new managing director for a five-year term, with an annual remuneration of INR 26,00,000. Dhruvil Doshi is proposed to be appointed as whole-time director cum chief financial officer for five years, with an annual remuneration of INR 13,00,000.

The company plans to raise INR 40 crores from banks and financial institutions in FY26 to support business expansion. Furthermore, borrowing limits are set to increase to INR 190 crores to meet budgeted disbursements. With 53 branches and 1.09 lakh live customers, Shalibhadra Finance is considering expansion into Goa and Karnataka.