Spandana Sphoorty Financial Limited
Spandana Sphoorty Financial Limited is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 12.25%.
Data as of 26 Oct 2026
How this yield compares
About this bond
Spandana Sphoorty Financial Limited is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 12.25%. It pays a coupon of 12.25% and matures on 31 Mar 2028, a remaining tenure of about 1.4 yr. It is rated BBB+, a moderate credit-safety grade. Jiraaf lists this bond with a minimum investment of ₹1.0L.
Its 12.25% yield is well above the market average, placing it 44th of the 315 Corporate bonds on RightBonds - firmly in the top tier. That is 1.85 percentage points above the Corporate median of 10.40% - a clear yield premium over the typical peer. Against a tenure-matched SBI fixed deposit (6.50%), it pays roughly 5.75 points more - a large gap that only makes sense once you are comfortable with the issuer's credit. Its short 1.4 yr horizon locks the rate for only a few years, limiting reinvestment risk. Paired with its moderate safety (BBB+) rating, that is a higher-yield, higher-risk profile. Compare it against similar bonds on RightBonds before investing.
Investors comparing this bond often also look at Spandana Sphoorty Financial (INE572J07786) at 12%, Spandana Sphoorty Financial (INE572J07810) at 11% and Spandana Sphoorty Financial (INE572J07802) at 11%.
About Spandana Sphoorty Financial
Spandana Sphoorty Financial Limited is a microfinance lender that is currently contracting sharply, and any investor should weigh that before the yield. Consolidated assets under management fell to Rs 4,958 crore by June 2025 from Rs 11,973 crore in March 2024, a decline of roughly 27% in the June quarter alone. The cause is sector-wide as well as company-specific: borrower over-indebtedness, weakened credit discipline and high field-staff attrition hit collections through FY25. Consolidated gross stage 3 assets rose to 5.25% by December 2024 from 1.68% in March 2024, and 0-plus and 30-plus day delinquencies stood at 16.5% and 13.4% respectively in June 2025. ICRA downgraded the company on weaker-than-expected profitability and asset quality. Capitalisation is the offsetting strength, with a capital adequacy ratio of 40.8% and gearing of 2.6 times as of June 2025.
Bond details
What you keep after tax
Interest on a listed corporate bond is added to your income and taxed at your slab, so the 12.25% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 1.4 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 12.25% | ₹1,17,955 |
| 5% slab | 11.64% | ₹1,17,036 |
| 20% slab | 9.80% | ₹1,14,293 |
| 30% slab | 8.57% | ₹1,12,475 |
At a 12.25% coupon, ₹1,00,000 of face value pays about ₹12,250 of interest a year. That is over the ₹10,000 Section 193 threshold, so roughly ₹1,225 a year is withheld as TDS - adjustable against your final liability, not an extra tax.
Slab rates only - surcharge and cess are not included, and the figures assume you hold to maturity. Sold on the exchange after 12 months instead, the gain is taxed as long-term capital gains at 12.5%. Not tax advice.
Against a fixed deposit, in rupees
Same ₹1,00,000, same 1.4 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.50%.
Bond figure compounds the yield annually; the FD compounds quarterly, as a cumulative bank FD does. Both are pre-tax and assume the bond is held to maturity and the issuer pays in full - the BBB+ credit risk is the reason for the gap.
