Press Release April 06, 2026 ENORME CAPITAL PRIVATE LIMITED Rating Assigned

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	10.00	ACUITE B | Stable | Assigned	-
Total Outstanding	10.00	-	-
Total Withdrawn	0.00	-	-

Rating Rationale

Acuite has assigned the long term rating of 'ACUITE B' (read as ACUITE B)' on the Rs 10.00 Cr. bank loan facilities of Enorme Capital Private Limited. The Outlook is "Stable". Rationale for Rating The rating assigned to Enorme Capital Private Limited (ECPL) reflects its small scale of operations, low capitalisation, weak profitability and high geographical concentration in the state of Tamil Nadu. The company’s assets under management remained small at Rs.9.73 crore as on March 31, 2025. The rating also factors in ECPL’s moderate asset quality, with GNPA and NNPA at 8.83 percent and 1.60 percent, respectively, as on March 31, 2025, compared with 11.22 percent and 2.81 percent, respectively, as on March 31, 2024.  The capital structure is marked by a net worth of Rs. 5.92 crore, CAR of 61.46 percent and moderate leverage, with a gearing of 0.58 times as on March 31, 2025. The rating is supported by the experience of the management team and directors. Going forward company’s resource raising ability, improvement in asset quality across different time buckets, improvement in profitability metrics and AUM while maintaining healthy Capitalization levels would be key rating sensitivities.

About the company

Tamil Nadu based, Enorme Capital Private Limited was incorporated in 2018. The company provides financial assistance through small ticket loans to entrepreneurs, businessmen, professionals, salaried class and their families. Mrs. K Vijayalakshmi, Mr. P Kandasamy, Mr. N Pandian, Mr. V P Vishnu Prasad are directors of the company.

Unsupported Rating

Not applicable

Analytical Approach

­Acuité has considered the standalone financial and business risk profile of Enorme Capital Private Limited to arrive at the rating.

Key Rating Drivers

Strength

­Experienced management The company is led by an experienced management, comprising Mrs. K Vijayalakshmi, Mr. V P Vishnu Prasad, Mr. N Pandian and Mr. P Kandasamy, who collectively brings over a decades of experience across lending and banking operations. Acuité believes that ECPL will continue to benefit through the experienced management.

Weakness

­Small scale of operations The company continues to operate at a nascent stage, with AUM of Rs. 11.02 crore as on December 2025. Although the AUM has increased from Rs. 6.06 crore in FY2024 to Rs. 9.73 crore in FY2025, the overall scale of operations remains modest. The growth in the loan portfolio is reflected in disbursements of Rs. 8.60 crore during FY2025 compared to Rs. 4.72 crore in FY2024. ECPL continues to exhibit high geographical concentration, with its operations limited to Tamil Nadu and Andhra Pradesh through a network of two branches in Tamil Nadu as on December 31, 2025. Tamil Nadu accounts for a predominant share of 95.40% of the loan portfolio, while Andhra Pradesh contributes the remaining. Acuité believes that the company’s ability to sustain growth in its loan book, while maintaining sound asset quality levels over the near to medium term, will be a key rating monitorable. Low capitalisation levels ECPL’s capitalization profile remains constrained by its low net worth base. The net worth stood modest at Rs. 5.92 crore as on March 31, 2025 (Rs. 6.70 crore as on December 2025). The company reported an overall CAR of 61.46 percent as on March 31, 2025 (61.94 percent as on December 2025), supported entirely by Tier-I capital.  ECPL’s gearing ratio has increased from 0.58 times in March 2025 to 0.62 times in December 2025. Weak profitability metrics amid elevated credit costs The profitability profile of the company remains weak, impacted by moderation in asset quality and elevated credit costs. ECPL reported GNPA and NNPA at 8.83 percent and 1.60%, respectively, as on FY2025, compared with GNPA of 11.22 percent and NNPA of 2.81 percent as on FY2024, leading to increased provisioning requirements. Provisions increased to Rs. 0.21 crore in FY2025 from Rs. 0.09 crore in FY2024, reflecting higher credit costs. Consequently, despite growth in interest income, profitability indicators moderated in FY2025, with return on average assets (RoAA) and return on average net worth (RoNW) declining to 9.28 percent and 15.57 percent for FY25, respectively, from 11.84 percent and 20.36 percent in FY24. Acuité believes that the company’s ability to control credit costs and stabilise asset quality will be critical to improving its profitability profile over the near to medium term.

Rating Sensitivity

Potential triggers (individual or collective) for an upward rating action:

Sustained improvement in the company’s profitability metrics, reflecting in RoAA above 12.00 percent. Consistent improvement in AUM, while expanding geographical presence.

Potential triggers (individual or collective) for a downward rating action:

­­Weakening capital position and increase in gearing ratio

Liquidity Position

Adequate

ECPL’s funding profile comprises long-term borrowings of Rs 2.01 crore, which include unsecured loans from directors on which there is no interest payment obligation. Short-term borrowings primarily consist of a sanctioned overdraft facility of Rs. 4.00 crore. There are no negative cumulative mis-matches in ALM dated on December 31, 2025.

Outlook:

­Stable

Other Factors affecting Rating

­None

Key Financials - Standalone / Originator

­ Particulars Unit FY25(Actual) FY24(Restated) Total Assets Rs. Cr. 9.96 6.29 Total Income* Rs. Cr. 1.70 1.44 PAT Rs. Cr. 0.75 0.70 Net Worth Rs. Cr. 5.92 3.77 Return on Average Assets (RoAA) (%) 9.28 11.84 Return on Average Net Worth (RoNW) (%) 15.57 20.36 Debt/Equity Times 0.58 0.55 Gross NPA (%) 8.83 11.22 Net NPA (%) 1.60 2.81 *Total income equals to Net Interest Income plus other income

Status of non-cooperation with previous CRA (if applicable):

­None

Any other information

­ None

Applicable Criteria

• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm

Note on complexity levels of the rated instrument

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History :

­Not applicable

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 5.82 Simple ACUITE B | Stable | Assigned City Union Bank Ltd Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 4.00 Simple ACUITE B | Stable | Assigned City Union Bank Ltd Not avl. / Not appl. Term Loan 26 Nov 2025 Not avl. / Not appl. 26 Nov 2030 0.18 Simple ACUITE B | Stable | Assigned

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Contacts

Mohit Jain Chief Analytical Officer - Rating Operations Yash Dharmale Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

­Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.