[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Rohit Singhal [@MULTIPLY_RS](/creator/twitter/MULTIPLY_RS) on x XX followers Created: 2025-07-21 14:01:34 UTC A small company that is working on the Early Wage Access (EWA) model in India- Emerald Finance Emerald Finance is an emerging NBFC focused on providing Early Wage Access— a service that lets salaried employees withdraw a part of their already-earned salary before payday. This is already prevalent in the US/EU and is now gaining traction in Asia Pacific region. Instead of waiting till month-end, users can access up to XX% of their salary instantly through Emerald’s platform. It’s not a loan — there’s no interest — just a small fee per withdrawal. This helps users manage cash flow while improving employee satisfaction for partnered corporates. EWA is used as a “customer acquisition tool” to cross-sell higher ticket loans (personal, vehicle, business loans) via subsidiary ShubhBank. In Q1 FY'26, Emerald reported strong performance with: Consolidated revenue up XX% YoY Net profit (PAT) up XX% YoY Key Takeaways from the Management commentary: - The company has already tied up with 90+ corporates; guided to reach XXX by FY'26 end. However, at the current run rate, XXX looks unlikely. They have added around XX in Q1 and might be able to reach 200-220 by year end. This is a slight negative. Though the absolute number does not make much difference in the financials, the fact that the management has guided a number and they might not be able to reach there, can be taken in a negative way by the market. - EWA Disbursements: ₹4+ crore monthly in Q1; expected to scale to ₹15 crore/month by year end- this is on track with the guidance and a big positive. - PAT Guidance: Company expects PAT to grow 8-10x by FY'28, aided by operating leverage and cross-sell income. This translates to doubling the PAT every year and until now, the company is well on track. - First-Time NPAs Reported: The company reported its first-ever NPAs this quarter, though small (₹50,000 in business loans). This marks an early sign of credit stress that will need closer monitoring as scale increases. However the management is confident of recovering the amount in the current quarter. Outlook: The company is growing at a very fast pace with revenue CAGR north of XX% while also getting Operational leverage. The guidance looks strong. The stock is currently trading at a PE of XX and thus has immense scope of PE re-rating, provided they keep executing as per the guidance. Key metrics to track in the next quarter will be EWA disbursement figures, PAT growth and the NPAs settlement. XXX engagements  **Related Topics** [payday](/topic/payday) [finance](/topic/finance) [india](/topic/india) [Post Link](https://x.com/MULTIPLY_RS/status/1947295893491007835)
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Rohit Singhal @MULTIPLY_RS on x XX followers
Created: 2025-07-21 14:01:34 UTC
A small company that is working on the Early Wage Access (EWA) model in India- Emerald Finance
Emerald Finance is an emerging NBFC focused on providing Early Wage Access— a service that lets salaried employees withdraw a part of their already-earned salary before payday. This is already prevalent in the US/EU and is now gaining traction in Asia Pacific region. Instead of waiting till month-end, users can access up to XX% of their salary instantly through Emerald’s platform. It’s not a loan — there’s no interest — just a small fee per withdrawal. This helps users manage cash flow while improving employee satisfaction for partnered corporates.
EWA is used as a “customer acquisition tool” to cross-sell higher ticket loans (personal, vehicle, business loans) via subsidiary ShubhBank.
In Q1 FY'26, Emerald reported strong performance with:
Consolidated revenue up XX% YoY
Net profit (PAT) up XX% YoY
Key Takeaways from the Management commentary:
The company has already tied up with 90+ corporates; guided to reach XXX by FY'26 end. However, at the current run rate, XXX looks unlikely. They have added around XX in Q1 and might be able to reach 200-220 by year end. This is a slight negative. Though the absolute number does not make much difference in the financials, the fact that the management has guided a number and they might not be able to reach there, can be taken in a negative way by the market.
EWA Disbursements: ₹4+ crore monthly in Q1; expected to scale to ₹15 crore/month by year end- this is on track with the guidance and a big positive.
PAT Guidance: Company expects PAT to grow 8-10x by FY'28, aided by operating leverage and cross-sell income. This translates to doubling the PAT every year and until now, the company is well on track.
First-Time NPAs Reported: The company reported its first-ever NPAs this quarter, though small (₹50,000 in business loans). This marks an early sign of credit stress that will need closer monitoring as scale increases. However the management is confident of recovering the amount in the current quarter.
Outlook: The company is growing at a very fast pace with revenue CAGR north of XX% while also getting Operational leverage. The guidance looks strong. The stock is currently trading at a PE of XX and thus has immense scope of PE re-rating, provided they keep executing as per the guidance. Key metrics to track in the next quarter will be EWA disbursement figures, PAT growth and the NPAs settlement.
XXX engagements
