Laxmi India Finance Q3 FY26: A-Rated After the IPO, Yet One DA Pool Turned the NPA Party Sour 1. At a Glance Laxmi India Finance looks like one of those small listed NBFCs that arrived at the shaadi in a well-ironed blazer, touched everyone’s feet, got an IPO done, upgraded its credit rating, and then quietly admitted that one Direct Assignment pool had gone rogue in the background. On the surface, the numbers look tasty: TTM revenue at ₹298.45 crore, TTM PAT at ₹43.81 crore, ROE at 15.66%, ROA at 3.00%, stock P/E at 11.69, and price-to-book at just 1.16. Quarterly momentum is also not asleep: December 2025 quarter revenue was ₹78.83 crore, up 28.83% YoY, while PAT came in at ₹10.06 crore, up 63.58% YoY. That is not bad for a company with a market cap of just ₹510.8 crore. But this is where the finance-thriller music starts. The company is still heavily concentrated in Rajasthan, the gross… Read complete 16 point breakdown on website https://t.co/mnVUZsN9vq