Overview
Mumbai-based digital lending platform Kissht has delivered a robust financial performance for the final quarter of FY26, reporting a 68% year-on-year surge in operating revenue to Rs 619 crore. This growth comes on the heels of the company’s successful public market debut earlier this month.
Financial Highlights
- Operating Revenue: Rs 619 crore in Q4 FY26, up from Rs 369 crore in Q4 FY25.
- Annual Performance: Full-year FY26 operating revenue reached Rs 2,179 crore, a 63% increase over FY25.
- Profitability: Quarterly profits rose 52% to Rs 82 crore, with full-year profits climbing 75% to Rs 281 crore.
Operational Dynamics
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht has scaled its small-ticket consumer lending business through deep integrations with retail merchants across fashion, electronics, and travel. While top-line growth is aggressive, the company faces significant cost pressures; impairment on financial instruments accounted for over 22% of its cost base, totaling Rs 114 crore in Q4. Total expenditures grew 70% YoY to Rs 515 crore, driven by finance costs and employee benefits.
Market Sentiment
Kissht’s public market performance has been notable. Listing at a 12% premium, the stock has maintained strong momentum, trading 56% above its IPO issue price of Rs 171. The company currently holds a market capitalization of approximately Rs 4,482 crore (~$472M).
Founder Takeaway
Kissht’s journey demonstrates that while scaling a lending business requires significant capital and careful management of loan impairments, a strategy centered on merchant partnerships and high-velocity small-ticket lending can lead to a clear path to both profitability and public market validation.