Incred Holdings Limited

Incred Holdings Limited

Finance - NBFC Unlisted Active
INE732W01014 Est. 2016 Website
Current Price 24 Aug 2026
₹156.00

Min lot: 250 shares

Market Cap ₹10,012 Cr
P/E Ratio 26.8x
EPS ₹5.81
Face Value ₹10.00
Book Value ₹59.26
P/B Ratio 2.63x
Min Lot 250 sh.
Total Debt ₹0 Cr

Price Trend

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Period High
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Prices shown are indicative unlisted-market bid prices, updated periodically.

About Incred Holdings Limited

Bhupinder Singh left Deutsche Bank and started InCred in 2016. That is the short version.

The longer one is that InCred Holdings, based in Mumbai, now covers a lot of ground. Consumer lending, education loans, MSME credit, asset and wealth management, investment banking and digital investment distribution. More than 3,500 people work there across over 150 locations in India.

The lending itself is conventional enough. What sits behind it is not, the company leans hard on technology and data analytics to decide who gets money and credits that for letting it grow without the book falling apart.

A few markers along the way. NBFC operations started in 2016. Qbera, a fintech platform, was bought in 2020. Partnerships with Amazon and Flipkart followed. Unicorn status arrived after the merger with KKR India Financial Services and a ₹500 crore Series D round.

Then the FY24 numbers. AUM of roughly ₹9,000 crore, profit after tax of ₹309 crore, collection efficiency holding near 98%. Gross and net NPAs both around 2.1%, capital adequacy close to 33%, which is comfortable. Having KKR on the cap table does not hurt either.

Financial Highlights

All figures are in Crores (₹)

FY21FY22FY23FY24FY25 YOY %CAGR %
Net Sales397.5488.0865.71,2731,874+47.2%+47.3%
Other Income5.0236.215.123.420.1-14.1%+41.5%
Total Income402.5524.3880.71,2961,894+46.1%+47.3%
Operating Profit250.60.00560.3871.51,153+32.3%+46.5%
Interest228.9219.5356.0453.3627.2+38.4%+28.7%
Depreciation3.8212.313.318.718.3-2.1%+47.9%
Total Expenditure384.7482.4629.4876.51,386+58.2%+37.8%
Exceptional Income0.000.000.000.000.00
PBT17.941.9191.0399.5507.4+27.0%+130.9%
TAX176.211.081.990.5134.3+48.4%-6.6%
PAT-158.430.8109.1309.0373.1+20.7%+23.9%
EPS (₹)₹-2.47₹0.48₹1.70₹4.81₹5.81+20.7%+23.9%
FY21FY22FY23FY24FY25 YOY %CAGR %
Shareholder Funds2,9291,1152,5483,3873,803+12.3%+6.8%
Total Debt0.000.000.000.000.00
Current Liabilities1,4502,9004,0835,3568,674+61.9%+56.4%
Non Current Liabilities3.2919.748.324.523.2-5.3%+63.0%
Total Liabilities2,9294,0356,6798,76812,501+42.6%+43.7%
Current Assets2,1553,9395,9628,15611,991+47.0%+53.6%
Non Current Assets774.095.8717.1612.0509.7-16.7%-9.9%
Total Assets2,9294,0356,6798,76812,501+42.6%+43.7%
FY21FY22FY23FY24FY25 YOY %CAGR %
Cash Flow From Operating Activities2,214-1,122-726.0-1,373-2,816-105.1%-6.2%
Cash Flow From Investing Activities-0.3913.2393.6-539.723.1+104.3%+177.4%
Cash Flow From Financing Activities-2,1261,150634.21,5973,447+115.8%+12.9%
Free Cash Flow2,214-513.6-750.1-1,391-2,837-103.9%-6.4%
FY21FY22FY23FY24FY25YOY %
ROE(%)-5.402.804.309.109.80+7.7%
ROCE(%)8.600.008.409.909.20-7.1%
ROA(%)-5.400.801.603.503.00-14.3%
Current Ratio(x)1.501.401.501.501.40-6.7%
Debt / Equity(x)0.000.000.000.000.00

No documents available yet.

Net Sales (in Cr.)

Total Income (in Cr.)

Net Profit (in Cr.)

Operating Profit (in Cr.)

Shareholder Funds (in Cr.)

Total Assets (in Cr.)

Operating Cash Flow (in Cr.)

Investing Cash Flow (in Cr.)

Financing Cash Flow (in Cr.)

Free Cash Flow (in Cr.)

Company Information

ISIN INE732W01014
Industry Finance - NBFC
Category Pre IPO
Incorporated 2016
Min Lot Size 250 shares
Demat Required Yes
ROFR Applicable No

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