Profectus Capital Private Limited is an RBI-registered, systemically important non-deposit taking NBFC focused on secured MSME lending to enterprises with limited access to formal finance.
Debenture trustee
Beacon Trusteeship Limited
Issuance date
17 Oct 2025
Key terms
IND A+/Positive issue rating from India Ratings.
9.00% fixed monthly coupon for 24 months.
1.10x cover over identified loan receivables.
UGRO parent linkage supports the credit view.
Returns & Cashflow
Units
1
Monthly Interest PayoutPrincipal Paid at Maturity
₹1,00,014.89Principal Invested
₹9,749.94Interest earned
₹1,09,749.94Final Payout
Interest Payout Schedule
Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date
Interest (₹)
Principal (₹)
17 Nov 2026
₹828.08
--
17 Dec 2026
₹801.36
--
17 Jan 2027
₹828.08
--
17 Feb 2027
₹828.08
--
17 Mar 2027
₹747.94
--
17 Apr 2027
₹828.08
--
17 May 2027
₹801.36
--
17 Jun 2027
₹828.08
--
Sign up to view detailed payout schedule
Financial Trend
YoY +4.2% ↑
Sign up to view Issuer at a glance
Issuer and structure highlights
UGRO Parentage
UGRO acquired 100% of PCPL, and Ind-Ra factors full consolidation with UGRO into the rating.
Capital Buffer
CARE reported CAR of 37.44% and Tier-1 CAR of 37.09% as on Sep 30, 2025.
Diversified AUM
Portfolio spans MSME LAP, school funding, equipment funding, supply chain and other lending.
Funding Access
CARE cites about 40 lending institutions across banks, NBFCs, SFBs, NCDs and PTCs.
Adequate Liquidity
CARE reports no negative cumulative mismatch up to 5 years even after 90% collection stress.
Key Risks
Book Seasoning
Longer-tenor loans mean asset quality across a full economic cycle remains to be established.
Asset Quality
GNPA increased to 2.01% and NNPA to 1.24% as on Sep 30, 2025.
Profitability
ROTA moderated to 0.61% annualised in H1FY26 from 0.78% in FY25.
Integration Risk
Integration of underwriting, collections and funding strategy with UGRO remains critical.
MSME Sensitivity
Borrower cash flows are vulnerable to economic shocks, which can raise credit costs.
Sign up to view Strengths & Risk
Summarised from the issuer's disclosures and the rating rationale. Read the full offer document and rating rationale before investing.
IND A+/PositiveCARE A+ | StableAUM 3226.56 CrCAR 37.44%
A+/ StableIND A+/Positive
Rating rationale summary
Ind-Ra rates the issue IND A+/Positive, reflecting UGRO linkage, secured MSME franchise, capital buffers and diversified funding, offset by seasoning and profitability risks.
Summary points
Issue rating: IND A+/Positive from India Ratings.
CARE upgraded PCPL NCDs to CARE A+ | Stable.
UGRO acquired 100% of PCPL on Dec 8, 2025.
AUM was 3226.56 Cr at Sep 30, 2025.
Rating history timeline
CARE A- | Stable
CARE rating history shows CARE A- | Stable in FY23.
CARE A | Stable
CARE rating history shows upgrade to CARE A | Stable in FY24.
CARE A| RWD
CARE placed ratings on Watch with Developing Implications in 2025.
IND A+/Positive
India Ratings assigned issue and bank loan ratings on Dec 17, 2025.
Outlook implications
Positive issue outlook follows UGRO's outlook under Ind-Ra; CARE's Stable outlook expects parent support, healthy capitalisation and improving asset quality/profitability.
Implications for investors
The rating supports investment-grade credit quality, but investors should monitor integration with UGRO, asset quality seasoning, profitability and leverage over the 24-month tenor.
Rating Drivers
Parent Linkage
positive
UGRO acquired 100% of PCPL and Ind-R fully consolidates PCPL with UGRO
Capital Buffers
positive
CAR 37.44% and Tier-1 CAR 37.09% at 09/30/25 are above regulatory nor
Asset Quality
negative
GNPA increased to 2.01% and NNPA to 1.24% at Sep 30, 2025.
Profitability
negative
ROTA moderated to 0.61% annualised in H1FY26 from 0.78% in FY25.
Sign up to view Credit Rating Intelligence
Invest
Selected investment units: 1
Trade & Settlement
Settlement date
16 Oct 2026
Orders placed after 4 PM will be executed on the next business day. Weekends and exchange holidays are skipped.
Totals (For Selected Units)
Price per Unit
₹1,00,014.89
Investment amount
₹1,00,014.89
Total Interest
₹9,749.94
Total Receivable
₹1,09,749.94
Regulatory Assurance Panel
Credit Rating
Sign up to view Regulatory Assurance Panel
Blogs
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Senior Secured Bond
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