INE916Y07081 | 12.65% | Akme Fintrade (India) Limited

12.65%

YTM

₹9,886.39

Minimum investment

Monthly

Payout

20 Apr 2029

Maturity

11.25%

Coupon Rate

₹10,000

Face Value

Currently subscribed200 Units available

0% Sold

12.65% / +140 bpsYTM vs coupon

yield above stated coupon

98.6173 / 98.8638Clean / dirty price

Excluding / including accrued interest

About the Issuer

RBI-registered NBFC incorporated in 1996, serving rural and semi-urban borrowers through vehicle finance, secured business loans and other disclosed retail lending products.

Debenture trustee: Mitcon Trusteeship Services Limited
Issuance date: 20 Apr 2026

Why this bond?

Fixed 11.50% annual coupon, payable monthly
Senior secured NCDs with 1.10x receivables cover
BBB+ rating and 46.23% FY26 overall CAR
36-month tenor with promoter personal guarantee.

Monthly Interest PayoutPrincipal Paid Across Schedule

₹98,863.88Principal Invested

₹24,374.3Interest earned

₹1,24,374.3Final Payout

Interest Payout Schedule

Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date	Interest (₹)	Principal (₹)
20 Sep 2026	₹955.5	--
20 Oct 2026	₹924.7	--
20 Nov 2026	₹955.5	--
20 Dec 2026	₹924.7	--
20 Jan 2027	₹955.5	--
20 Feb 2027	₹955.5	--
20 Mar 2027	₹863	--
20 Apr 2027	₹955.5	--

Key Strengths

Capital cushion

Overall CAR was 46.23% in FY26, while 9M FY26 leverage was reported at 1.12x.

Profitability

PAT increased from 18.53 Cr in FY24 to 33.23 Cr in FY25 and 42.32 Cr in FY26.

Asset quality

GNPA improved from 4.57% in FY23 to 2.93% in FY26; NNPA improved from 3.44% to 1.41%.

Secured portfolio

The one-pager states the current portfolio is fully secured and over 68% has LTV below 70%.

Operating history

Incorporated in 1996, the issuer reports 30 years of operations and 29 branches across five states.

Key Risks

State concentration

Rajasthan represented 61.30% of FY26 loan assets despite expansion into four other states.

Product concentration

SME/LAP was 43.34%, two/three-wheeler loans 33.82%, and used commercial vehicles 22.63% of FY26 loan assets.

High-LTV tail

FY26 loan assets included 16.48% at 80-90% LTV and 4.43% above 90% LTV.

Funding cost

The March 2026 company profile reports average cost of borrowings at 14.36% for FY26.

Receivables cover

Bond security depends on eligible loan receivables maintaining at least 1.10x cover.

Acuité A- upgradeCARE BBB+ / StableInfomerics BBB+ / Stable

A-/ StableAcuité upgrade

Rating rationale summary

The one-pager records an Acuité upgrade to A- and CARE BBB+/Stable in January 2026; the KID records Infomerics BBB+/Stable dated 8 January 2026.

Summary points

Acuité upgraded the rating from BBB+ to A-
CARE assigned BBB+/Stable in January 2026
Infomerics KID rating: BBB+/Stable

Rating history timeline

CARE bank rating

CARE assigned BB to bank facilities

Infomerics issue

Instrument rating dated 8 January 2026

CARE rating

CARE assigned BBB+/Stable in January 2026

Acuité upgrade

Upgraded from BBB+ to A-

Outlook implications

CARE and Infomerics are recorded as Stable; the company profile also shows A- (Stable), but the full agency rationales were not supplied.

Implications for investors

A one-notch rating downgrade triggers a 50 bps annual coupon step-up for each notch, subject to the KID terms.
The KID states that the lowest rating is used for coupon step-up purposes when multiple agencies rate the issuer or debentures.
The one-pager attributes CARE's view to capitalisation, profitability and improving asset quality.

Watch for: The lowest applicable rating and any further rating action across the three cited agencies.

Rating Drivers

IPO equity supports capitalisation

Healthy and improving earnings

Improving asset-quality metrics

Strengthening financial resilience

How this issuer compares to peers

Benchmark yield, balance-sheet strength, and risk indicators against similar issuers to make the credit case easier to validate.

Where it stands out

Low leverage, high capital adequacy and improving profitability

Rural lending Vehicle Finance Secured Portfolio High CapitalAt 9M FY26, leverage was 1.12x, ROAA 5.9% and CRAR 47.5%, while GNPA was 2.94%.

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