Pune, October 21, 2026: EarlySalary Services Private Limited, the NBFC arm of Fibe and a wholly owned subsidiary of Social Worth Technologies Limited (SWTL), has received upgraded credit ratings from India Ratings and Research (Ind-Ra) and CRISIL Ratings.
India Ratings has raised the rating on EarlySalary Services’ non-convertible debentures to ‘IND A/Stable’ from ‘IND A-Positive’. CRISIL Ratings 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 ‘CRISIL A1’ rating on Rs. 100 crore of commercial paper.
Improved asset quality and profitability
The rating agencies cited improvements in the group’s business scale, profitability, and asset quality, as well as its capitalisation metrics. India Ratings noted that asset quality strengthened due to tighter underwriting and better collection efficiency. CRISIL highlighted the group’s track record of raising equity, technology-enabled operations, and diversified resource profile as key strengths.
Growth in AUM and profits
As of March 31, 2026, the group’s consolidated assets under management stood at ₹8,602.74 crore, up from ₹5,267.86 crore a year earlier. Consolidated profit after tax rose to ₹257.47 crore in FY26 from ₹113.73 crore in FY25, according to the rating rationales.
Focus on capital base and risk management
Ashish Goyal, Chairperson, Executive Director and Group Chief Financial Officer of Fibe, said the rating actions reflect the company’s progress in building a financially resilient lending business. He added that the group remains focused on maintaining a strong capital base, diversifying funding sources, and strengthening underwriting and collections as it scales operations.
About EarlySalary and Fibe
EarlySalary Services Private Limited is a non-banking financial company providing unsecured personal loans and purpose-driven financing for education, healthcare, insurance premiums, and rooftop solar. SWTL operates the group’s technology platform under the Fibe brand, which offers digital lending solutions and financial products including digital FDs, loans against mutual funds, and long-term personal loans.
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