EarlySalary Services Private Limited receives ‘A/Stable’ ratings from India Ratings and CRISIL
Pune : EarlySalary Services Private Limited, a wholly owned subsidiary of Social Worth Technologies Limited (“SWTL”) and the NBFC arm of Fibe, has received improved credit rating assessments from India Ratings and Research (Ind-Ra) and CRISIL Ratings. India Ratings has upgraded the rating on the company’s non-convertible debentures to ‘IND A’/Stable from ‘IND A-Positive’. CRISIL Ratings has assigned a ‘CRISIL A/Stable’ rating to the company’s long-term bank loan facilities of Rs. 700 crore and NCDs of Rs. 800 crore, while reaffirming its existing ‘CRISIL A1’ rating Rs. 100 crore on commercial paper.
The rating actions reflect improvements in the group’s business scale, profitability and asset quality, along with its capitalisation metrics. India Ratings has noted that asset quality improved with tighter underwriting and stronger collection efficiency. CRISIL Ratings has cited the group’s track record of raising equity, technology-enabled operations and diversified resource profile as rating strengths.
According to the rating rationales, the group’s consolidated assets under management (AUM) stood at ₹8,602.74 crore as of March 31, 2026 compared with ₹5,267.86 crore as of March 31, 2025. Consolidated profit after tax increased to ₹257.47 crore in FY26 from ₹113.73 crore in FY25.
Ashish Goyal, Chairperson, Executive Director and Group Chief Financial Officer, Fibe said, “These rating actions reflect the progress we are making in building a financially resilient lending business. Our focus remains on maintaining a strong capital base, diversifying our funding sources and strengthening underwriting and collections as we scale. We will continue to combine technology with disciplined lending to meet customers’ evolving credit needs and support sustainable growth. Our healthy capitalisation and track record of raising equity provide support as we scale our lending operations. We remain focused on sustaining the improvement in earnings while maintaining asset quality and managing the risks associated with unsecured personal lending.”
EarlySalary Services Private Limited is a non-banking financial company (NBFC) and a wholly owned subsidiary of Social Worth Technologies Limited (SWTL). SWTL operates the group’s technology platform under the Fibe brand. The group provides unsecured personal loans and purpose-driven financing for education, healthcare, insurance premiums and rooftop solar.
