Authum Investment & Infrastructure Ltd(AIIL)

NSE: AIILBSE: 539177

₹ 495-4.09%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 42,037 crWebsite: www.authum.comUpdated: 24 Oct 2026

About

Authum Investment & Infrastructure Ltd (AIIL) is a Mumbai-based NBFC that operates across two segments - Lending Activity (50.9% of FY26 revenue) and Investing Activity (48.1%) - building an integrated Credit and Alternative Assets platform spanning an NBFC, an ARC subsidiary (ISARC), an Asset Management Company, and a Servicing & Advisory vertical. The company reported consolidated revenue of Rs. 2,608.8 Cr in FY26, with a consolidated net worth of Rs. 14,727.8 Cr as of March 2026. CRISIL upgraded its credit rating to A/Stable in October 2025.^[1][2][3][4]

Business segments

Lending Activity contributed Rs. 1,349.69 Cr (50.9% of revenue) with EBIT of Rs. 1,127.63 Cr (83.5% margin) in FY26.^[2]
Investing Activity contributed Rs. 1,275.78 Cr (48.1% of revenue) with EBIT of Rs. 985.36 Cr (77.2% margin) in FY26.^[2]

Business verticals

NBFC credit arm originated fresh disbursements exceeding Rs. 3,500 Cr in FY26, growing the fresh credit book from Rs. 1,553.8 Cr (Mar-25) to Rs. 3,928.1 Cr (Mar-26).^[3]
ISARC (India SME ARC), acquired at 88.37% in June 2025 for Rs. 313 Cr, operates as the ARC subsidiary with net worth of Rs. 353.29 Cr as of FY26.^[5][6]
Servicing & Advisory vertical - activated in Q4 FY25 - manages third-party retail loan AUM of Rs. 2,000 Cr+, adding a recurring fee income stream.^[3][4]
An Asset Management Company has been set up; AMC AUM exceeded Rs. 2,000 Cr with fee income of ~Rs. 6 Cr in FY26, with an Alternative Asset Fund planned for near-term launch.^[3]

Key operating numbers

Total loans and credit substitutes book stood at Rs. 4,364.1 Cr as of Mar-26, up from a fresh credit outstanding of Rs. 1,384.2 Cr at Jun-25.^[3][7]
Gross NPA was Rs. 251.4 Cr and Net NPA Rs. 14.9 Cr as of Mar-26, compared with Gross NPA of Rs. 249.0 Cr and Net NPA of Rs. 15.8 Cr at Dec-25.^[3][4]
ISARC AUM built to ~Rs. 693 Cr by Mar-26 (ARC subsidiary), up from ~Rs. 296 Cr at Dec-25, with the full ~Rs. 350 Cr of available cash deployed within 9 months of acquisition.^[3][4]
Written-off off-balance-sheet portfolio under active recovery: retail mortgage Rs. 443.6 Cr, retail other Rs. 2,140.9 Cr, and corporate Rs. 6,225.2 Cr - all 100% provided as of Sep-25.^[8]

Investment portfolio

Flow investments book was Rs. 12,847.4 Cr as of Sep-25 with cumulative unrealized profits of Rs. 4,013 Cr on a MOIC basis; best exit MOIC in 9MFY26 was 5.82x.^[8][4]
Equity AUM grew from Rs. 8,779 Cr in FY24 to Rs. 12,641 Cr in FY25; investment income fell sharply to Rs. 164.1 Cr in FY26 from Rs. 2,663.4 Cr in FY25 as the mix shifted toward credit income.^[5][3]
Interest income rose to Rs. 551.9 Cr in FY26 (vs Rs. 396.0 Cr in FY25), and change in provisions / bad-debt recovery / redemption upside contributed Rs. 1,778.5 Cr in FY26.^[3]

Capital structure and borrowings

Consolidated net worth was Rs. 14,727.8 Cr at Mar-26 (broadly flat vs Rs. 14,689.3 Cr at Mar-25); excludes Rs. 2,050 Cr of Compulsorily Redeemable Preference Shares which form part of Tier 2 capital.^[3]
Total borrowings were Rs. 4,444.9 Cr at Mar-26, up from Rs. 1,398.1 Cr at Mar-25, driven by inter-corporate deposits from promoter Mentor Capital Ltd and subordinated debt; finance costs rose to Rs. 198.8 Cr in FY26.^[3][8]
Board is seeking member approval to borrow up to Rs. 5,000 Cr to fund loan book and investment growth, with security creation on assets.^[6]

Customers and distribution

Permanent workforce stood at 326 employees as of March 31, 2025.^[5]
Promoter shareholding was 68.79% as of Q2 FY26, diluted from 74.95% in Q1 FY26 via equity issuance; capital proposed to be infused back as Preference Shares subject to approvals.^[8]

Expansion and capex

AIIL plans to co-invest with ISARC in stressed asset/NPA pools via security receipts across four new trusts (Trust 11 - 14), with aggregate related-party transaction limit of Rs. 3,200 Cr.^[6]
Proposed lending of up to Rs. 1,000 Cr to ISARC and investment of up to Rs. 1,000 Cr in ISARC securities, with total ISARC-related RPT limit of Rs. 2,010 Cr.^[6]
AMC Alternative Asset Fund to be launched in the near term; Credit Funds (Domestic and Gift City) as well as Mutual Funds/PMS are being actively evaluated.^[3]

Recent developments

CRISIL upgraded Authum's credit rating from A- (Stable) to A (Stable) in October 2025, improving access to institutional capital.^[4][8]
NITCO debt restructuring completed: ~Rs. 1,040 Cr of unsustainable NITCO debt converted to equity at Rs. 93/share; Authum's invested amount was fully repaid and it holds ~46.8% of NITCO on a fully diluted basis.^[3]
Mentor Capital Ltd (promoter CIC) reported FY26 turnover of Rs. 367.58 Cr, PAT of Rs. 304.97 Cr, and net worth of Rs. 2,332.36 Cr; proposed borrowing from Mentor in FY27 is estimated at ~191.67% of AIIL's consolidated FY26 turnover.^[6]

Market Cap

₹42,037 Cr

High / Low

₹802 / 400

Stock P/E

21.1

Price / Book

3.0

Book Value

₹173

EPS

₹22.7

No. of Shares

84.92 Cr

ROE

13.1%

Debt / Equity

0.23

Sales

₹2,609 Cr

Net Profit

₹1,929 Cr

Promoter holding

68.8%

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Authum Investment & Infrastructure Ltd(AIIL)

About

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Capital structure and borrowings

Customers and distribution

Expansion and capex

Recent developments

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