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Lendingkart posts steep losses as revenue collapses in FY26

What they do

Lendingkart Finance is a digital lending platform for small businesses

The company reported a net loss of ₹333.3 Cr and a 62% drop in revenue for FY26

Disbursals fell sharply from peak levels amid regulatory tightening and management disputes

Lendingkart Finance posted a net loss of ₹333.3 Cr for the fiscal year ending March 2026.
This loss represents a 16% increase compared to the ₹288.3 Cr loss recorded in the previous fiscal year.
Operating revenue plummeted by 62% to ₹327.3 Cr, falling from ₹866.9 Cr in FY25.
Interest income dropped significantly by 73% year-over-year to reach ₹227 Cr.
Fees and commission income also collapsed by 76% to stand at ₹107.6 Cr.
The company faced a loss of ₹19 Cr specifically in fees and commission during the fourth quarter.
Total expenses decreased by approximately 40% to ₹773.1 Cr from ₹1,268.3 Cr in the prior year.
Provisions for bad loans were reduced by 45% to ₹290 Cr from ₹523.4 Cr in FY25.

The Reserve Bank of India tightened risk-weight norms on unsecured lending in late 2023.
These regulatory changes increased capital requirements for non-banking financial companies like Lendingkart.
Founder Harshvardhan Lunia filed a petition alleging mismanagement under Fullerton-led management in November 2025.
Monthly disbursals crashed from a peak of ₹340 Cr to just ₹17 Cr by August 2024.

Lendingkart Finance operates as a wholly owned subsidiary of Lendingkart Technologies.
It functions primarily as a digital platform for providing MSME loans.
The business model relies heavily on interest income from loan disbursements.
Revenue also comes from fees and commissions charged to borrowers.
The company manages credit risk through provisions for bad loans.
Operational costs include significant employee benefits and finance costs.
The firm adjusts accounts with co-lenders and handles direct loan assignments.
Management has undergone changes including new CEO appointment after takeover.
The company faces challenges from stricter regulatory environments for NBFCs.