Authum Investment & Infrastructure Limited provided an update detailing its transformation from a pure-play investment platform to a diversified credit business. Key financial highlights as of December 31, 2025, show a Net Worth of Rs. 16,028.5 Cr. The company is scaling up its Credit Business, while its Investment Business now features significant ‘Flow Investments’ contributing ~70% of the book size. The presentation also covered the strategic roadmap for platformization and growth.
Authum’s Transformation Journey
Authum Investment & Infrastructure Limited is actively transforming from its roots as a pure-play investment platform into a Diversified Credit Business. Incorporated in 1982, the company is a registered NBFC with promoter shareholding at 68.79% (as of Dec’25). The Market Cap reached approximately Rs. 42,400 Cr as of February 10, 2026, accompanied by a CRISIL rating of ‘A (Stable)’.
Evolution of Net Worth (Rs Cr)
The Net Worth has seen substantial growth over the years:
- FY20: 419.8 Cr
- FY23: 3,416.4 Cr
- FY25: 14,689.3 Cr
- Q3FY26 (Estimated): 16,028.5 Cr (post-internal accruals)
Diversification of Revenue Streams: Authum 3.0
The company’s strategy shows a clear pivot towards the Credit Business, categorized into three phases:
- Authum 1.0 (FY2020 – FY2022): Investments Business dominated, with a book size of Rs. 3,185.7 Cr in March 2022.
- Authum 2.0 (FY2022 – FY2024): Diversification into Credit & Alternative Assets, reaching a book size of Rs. 8,779.0 Cr by March 2024 (84% credit).
- Authum 3.0 (FY2025 onwards): Focused on the Integrated Credit Platform. As of Dec 31, 2025, the total book size is significantly skewed towards credit-related assets:
- Flow Investments: Rs. 12,681.5 Cr (~70%)
- Fresh Credit Portfolio: Rs. 2,275.3 Cr (~12%)
- Strategic Investments: Rs. 2,334.9 Cr (~13%)
Investment Business Performance
The Investment Business demonstrated strong realization performance:
- Exited Investments (FY25): Total Profit Booked was Rs. 1,797.0 Cr, with the top exit showing a MOIC of 5.12x.
- Exited Investments (9MFY26): Total Profit Booked reached Rs. 202.4 Cr, with the top exit achieving a MOIC of 5.82x.
- Existing Investments: Cumulative Unrealized Profits stood at Rs. 2,402 Cr as of Dec 31, 2025.
Credit Business Overview and Growth
The Credit Business has been built post the acquisition of OEDL and RHFL assets starting in FY24.
Loan Book Movement (as of Dec-25, Rs. Cr)
The total Loan Book reached Rs. 2,762.9 Cr, comprising:
- Fresh business o/s: Rs. 2,275.3 Cr
- Acquired Portfolio: Rs. 312.3 Cr
Fresh deployment was aggressive in FY25 at Rs. 2,231.5 Cr, continuing strongly in Q3FY26 with Rs. 1,504.3 Cr deployed.
Credit Roadmap and ISARC Acquisition
The roadmap involves scaling up the NBFC, ARC, AMC, and Servicing & Advisory verticals.
- ARC Scale-Up: Authum acquired 88.37% of ISARC in June 2025. ISARC has Rs. 217 Cr in free cash reserves for debt buyout deployment.
- ISARC Momentum: By December 2025, the AUM/Investment ratio improved from 1.0x to 2.5x, with AUM reaching Rs. 295.7 Cr.
Balance Sheet Strength (as of Dec 31, 2025)
The consolidated Balance Sheet exhibits significant resilience:
- Grand Total (Assets/Liabilities): Rs. 20,226.5 Cr.
- Net Worth: Strong at Rs. 16,028.5 Cr.
- Borrowings & Payables: Totaled Rs. 4,157.3 Cr.
The NPA situation for the loan book is minimal, with Gross NPA at Rs. 249.0 Cr and Net NPA at only Rs. 15.8 Cr, reflecting a 100% provision for the legacy book.
Strategic Way Forward
The strategy focuses on four core pillars to enhance franchise value:
- Diversify revenue streams: Balancing Investments and the expanding Credit Business.
- Allocate Capital: Improving the mix towards Flow Business and Strategic Investments/Credit.
- Platformize & Professionalize: Creating synergistical yet independent platforms supported by specialized management teams focused on long-term value creation.
- Poised for value creation: Building self-sustaining platforms to drive multiple growth engines.
Corporate Governance Structure
The governance structure is supported by:
- Promoters: First-generation entrepreneurs with a commitment to building the integrated credit platform.
- Board: Majority comprising Independent Directors, ensuring diverse backgrounds and skill sets.
- Management: A specialized team with a focus on creating value, supported by Mr. Akash Suri (CEO & Whole Time Director).
Source: BSE
