Interest expense leaves Moneyboxx with just Rs 0.24 cr pre-tax profit
The standalone quarter included a solar-loan launch, while management outlined targets for a more secured loan book and lower borrowing costs.
Filed 12 Aug 2026, 18:56 IST · after market close · MONEYBOXX (MONEYBOXX)
Key takeaways
- Interest expense of Rs 21.10 cr absorbed most of the Rs 23.79 cr operating profit, leaving pre-tax profit at Rs 0.24 cr.
- Management said it is targeting a secured book of about 80% of AUM by March 2027 after launching solar loans in Q1 FY27.
- Operating margin was 45.74%, but EPS was only Rs 0.03 as interest and depreciation reduced earnings.
Interest absorbed most operating profit
Moneyboxx's standalone operating profit of Rs 23.79 cr was largely consumed by Rs 21.10 cr of interest expense. Depreciation of Rs 2.55 cr and other income of Rs 0.10 cr left profit before tax at only Rs 0.24 cr. The 14.6% tax rate had limited absolute impact because tax was Rs 0.04 cr.
High operating margin did not translate into earnings
The 45.74% operating margin reflects the gap between revenue and operating expenses, but it does not capture the financing burden that followed below operating profit. With interest taking up most of operating profit, net profit was Rs 0.21 cr and EPS was Rs 0.03. Other income was small at Rs 0.10 cr and was not the main reason for the reported profit.
Solar loans and secured-book targets set the direction
The company said it launched renewable-energy solar loans for MSME solarisation in Q1 FY27 and that digital loans are scheduled to commence in Q2 FY27. Management said it is targeting solar loans at 10% of AUM and a secured book of about 80% of AUM by March 2027. It also said borrowing IRR is expected to decline and converge to single digit in the medium term.
Systems and cost discipline remain important
Management said the Moneyboxx One loan-origination system was rolled out in May 2026 to improve efficiency and turnaround time, alongside AI-supported underwriting and digital collection processes. The company said opex remained stable in absolute terms, although opex rose by 50 basis points because of the decline in AUM. The results were filed after market close on 12 August 2026.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹52 cr |
| Other income | ₹0 cr |
| Expenses | ₹28 cr |
| Operating profit | ₹24 cr |
| Operating margin (%) | 45.74% |
| Interest | ₹21 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹0 cr |
| Tax | ₹0 cr |
| Net profit | ₹0 cr |
| EPS (₹) | ₹0.03 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company launched renewable solar loans in Q1 FY27.
- The in-house Moneyboxx One loan origination system was rolled out in May 2026.
Guidance & outlook
- The company targets solar loans at 10% of AUM and solar AUM above INR 10 crore by July 2026.
- The company is targeting a secured book of about 80% of AUM by March 2027.
- Borrowing IRR is expected to decline and converge to single digit in the medium term.
Planned next quarter
- Digital loans are scheduled to commence in Q2 FY27.
New products
- The company launched renewable energy solar loans for MSME solarisation.
- The company is introducing digital loans in Q2 FY27.
New initiatives
- The company has strategic partnerships with leading OEMs and global climate foundations.
- The in-house Moneyboxx One loan origination system was rolled out to improve efficiency and turnaround time.
- The company uses ML- and AI-supported underwriting through Cattle AI.
- The company has introduced digital processes and the MBCollect mobile app for collections.
Problems & risks
- Opex increased by 50 basis points because of AUM decline, while remaining stable in absolute terms.
- The company identifies opex stickiness as an issue expected to reduce with AUM growth.
What to watch
- Whether operating margin remains near 45.74% as the company expands its loan products.
- Interest expense versus Rs 21.10 cr, given its effect on the Rs 23.79 cr operating profit.
- Progress toward the 10% solar-loan AUM target and the scheduled Q2 FY27 digital-loan launch.