Sulabh Engineers & Services Lt

What Sulabh Engineers & Services Lt does

Sulabh Engineers & Services Limited is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India and listed on the Bombay Stock Exchange (BSE code 508969, CIN L28920MH1983PLC029879). Founded in April 1983, the company operates a micro-scale lending business (1-10 employees) headquartered in Kanpur with a registered office in Mumbai, targeting SMEs, micro enterprises, and corporate houses across India.

The company's product portfolio is organized around two lines: Asset Financing (funding for asset acquisition, bridge financing, promoter funding, structured debt finance, stressed assets funding, and margin financing for corporate clients) and SME Loans (working capital loans, equipment and machinery financing, business/capacity expansion loans, term loans against property, and commercial property loans). Underlying technology is described as traditional NBFC infrastructure with no proprietary platform, no AI/ML capabilities, and no app or API surface; operations rely on manual credit appraisal, risk filters, and asset monitoring supported by a board that includes a Chartered Accountant Independent Director and a Risk Management Committee.

Revenue is generated primarily through interest income on loans and asset finance services, with pricing conducted on a quote-based, monthly-billing basis that varies by customer profile, loan amount, and tenure. Distribution is direct via the company's own sales force and customer engagement, complemented by ongoing partnerships with banks and financial institutions for asset collateral management and securitization. FY26 standalone sales were Rs 3.90 crore (down 21.21% YoY) with net profit of Rs 0.87 crore (down 64.63% YoY), although Q1 FY27 showed revenue up 37.55% YoY to Rs 1.18 crore.

Name

Sulabh Engineers & Services Lt

Legal name

Sulabh Engineers and Services Limited

Website

https://sulabh.org.in

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Sulabh Engineers & Services Limited is a Mumbai-listed, RBI-registered NBFC providing asset financing and SME loans, including working capital, equipment, expansion, and property-backed lending, to small enterprises and corporate houses across India.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services (SME and corporate lending)

NAICS

Finance and Insurance (52)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Loan Operations & Servicing (Consumer/SME/Corporate) (FSABALAD)

Keywords

• SME business loans
• Asset financing services
• Working capital loans
• Equipment machinery financing
• Non-banking finance company

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income on Loans: The company generates revenue primarily through interest income from various loan products including business expansion loans, working capital loans, equipment loans, term loans against property, and commercial property loans.
2. Asset Finance Services: Revenue from asset collateral management and securitization services, including funding for asset acquisition, promoter funding, structured debt finance, stressed assets funding, and margin financing.
3. SME Loan Services: Revenue from providing working capital loans, equipment and machinery loans, business expansion loans, and term loans against property to SMEs.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Sulabh Engineers & Services Limited is an RBI-registered Non-Banking Finance Company (NBFC) that provides business loan products to SMEs, micro enterprises, and corporate houses. Its product range includes loans for business or capacity expansion, working capital loans, loans for purchase of equipment and machinery, term loans against property, and loans for purchase of commercial property, along with asset financing services such as funding for asset acquisition, promoter funding, structured debt finance, stressed assets funding, and margin financing.

Product overview

Sulabh Engineers and Services Limited is an NBFC providing a unified financial services portfolio centered on Asset Financing and SME Loans. The Asset Financing product line offers corporate financing solutions including funding against collateral, promoter funding, structured debt finance, stressed assets funding, and margin financing. The SME Loans product line serves micro, small, and medium enterprises with Working Capital Loans, Equipment and Machinery Loans, Business/Capacity Expansion Loans, and Term Loans Against Property. Both product lines share common infrastructure for loan processing, risk management, and investor relations services.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset Financing Asset financing services for corporate houses using assets as collateral. Includes funding for asset acquisition, bridge financing, promoter funding, structured debt finance, stressed assets funding, and margin financing to meet short-term and long-term financing needs.
• SME Loans Financial solutions for micro, small, and medium enterprises covering working capital loans, equipment and machinery financing, business expansion loans, and term loans against property. Designed for SMEs and emerging business areas.

Quantifiable outcome

• Net profit increased 45.32% year-over-year in Q1 FY26
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Various Banks and Financial InstitutionsminorOthersThe company has partnered with various renowned Banks and Financial Institutions for asset collateral management and securitization. These partnerships enable the company to strengthen its balance sheet offerings and provide comprehensive financing solutions to corporate clients.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Bajaj Finance: India's largest diversified NBFC offering consumer, SME, commercial, and asset financing. While much larger and broader, it competes directly with Sulabh in SME lending, equipment financing, and LAP, and serves as the dominant benchmark for Indian listed NBFCs.
• L&T Finance Holdings: Diversified NBFC with material SME, equipment finance, and rural finance verticals. Overlaps with Sulabh in SME and asset financing but operates at much greater scale and with broader product coverage.

Direct peers

• Sundaram Finance: Chennai-based NBFC with a strong franchise in commercial vehicle, equipment, and hire-purchase financing alongside SME loans. Highly comparable core business mix to Sulabh's asset-finance and SME-loan book.
• Shriram Finance: Large Indian NBFC with a deep focus on commercial vehicle, equipment, and SME finance, including LAP and working capital products. Highly comparable to Sulabh's asset-finance and SME-loan orientation, though at substantially greater scale and with diversified product lines.
• IIFL Finance: Listed NBFC offering gold loans, home loans, LAP/business loans, and SME financing. Comparable to Sulabh in LAP, business expansion, and SME working-capital products, though with a more diversified and larger book.
• Cholamandalam Investment and Finance Company: Listed NBFC focused on vehicle finance, SME loans, home equity/LAP, and equipment financing. Direct overlap with Sulabh's asset-financing, equipment-loan, and LAP products for SMEs and business owners.
• Mahindra & Mahindra Financial Services: Rural- and SME-focused NBFC with deep exposure to tractor, vehicle, equipment financing and SME working-capital loans. Comparable target customer profile (small businesses, asset buyers) and product mix to Sulabh.

Emerging players

• Manappuram Finance: Listed NBFC primarily in gold-backed lending that has expanded into SME, vehicle, and microfinance loans. Adjacent rather than direct overlap with Sulabh, but competes for similar SME and small-business borrowers in India.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sulabh Engineers & Services Lt