{"product_id":"spandanasphoorty-pestle-analysis","title":"Spandana Sphoorty Financial PESTLE Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePlan Smarter. Present Sharper. Compete Stronger.\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eNavigate the external forces shaping Spandana Sphoorty Financial with our concise PESTLE snapshot—identify regulatory, economic, and technological risks and opportunities fast; purchase the full analysis to unlock detailed, actionable insights and ready-to-use charts for investment or strategy decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eolitical factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment focus on financial inclusion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Indian government’s continued push for financial inclusion—PMJDY reaching over 480 million accounts by 2024—creates a policy tailwind for Spandana Sphoorty Financial to expand microcredit in under-penetrated rural areas; this supportive environment, coupled with government poverty-alleviation missions (e.g., 2024 rural employment and livelihoods programs), increases reliance on MFIs’ distribution networks to deliver credit, boosting addressable market and portfolio growth potential.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeopolitical stability and rural policy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePolitical stability at federal and state levels affects Spandana Sphoorty Financial's microfinance operations across 18 states; state election cycles in 2024–25 saw five major agrarian-focused governments introduce or promise loan relief, raising regional operational risk. Changes in state leadership can shift rural development spending—India’s rural credit growth slowed to 6.2% YoY in FY2024 in some states—altering demand for MFI loans. Populist measures like farm loan waivers can weaken credit discipline; areas with recent waivers recorded up to a 7–10 percentage-point rise in NPA incidence among small borrowers, affecting Spandana’s core portfolio performance.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory oversight by the RBI\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe Reserve Bank of India is the primary regulator for NBFC-MFIs, and recent 2024 guidance revising interest rate caps to 24% and tightening qualifying assets to 50% high‑priority microloans affects Spandana Sphoorty; household income thresholds (now ₹1.25 lakh rural\/₹2.5 lakh urban) are periodically reviewed, and Spandana must adapt underwriting, pricing, and portfolio mix to remain compliant while protecting margins—net interest margin was 11.2% in FY2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Benefit Transfer (DBT) integration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eGovernment DBT rollout has raised financial literacy and digital footprints among rural women; as of 2024 over 280 million DBT beneficiaries receive payments via Aadhaar-linked accounts, expanding Spandana Sphoorty Financial’s target base.\u003c\/p\u003e\n\u003cp\u003eDBT integration streamlines loan disbursement and collections by using Aadhaar-linked transfers, lowering transaction costs and reducing defaults tied to cash handling.\u003c\/p\u003e\n\u003cp\u003eGreater digital payments reduce cash dependence and boost transaction transparency—India’s digital payments volume reached 111 billion in FY2024, supporting scalable microfinance operations.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~280M DBT beneficiaries (2024)\u003c\/li\u003e\n\u003cli\u003e111B digital payments FY2024\u003c\/li\u003e\n\u003cli\u003eLower cash handling costs and higher collection transparency\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eState-level microfinance legislation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIndividual state governments in India have enacted local MFI rules; Maharashtra and Andhra Pradesh recently reviewed recovery guidelines after high-profile incidents; Andhra’s interventions in 2024 affected ~8% of regional MFI collections.\u003c\/p\u003e\n\u003cp\u003eRBI remains the central regulator, but state political pressure on aggressive recovery practices creates localized operational risk and occasional moratoria or enhanced oversight.\u003c\/p\u003e\n\u003cp\u003eSpandana engages proactively with state authorities and reports a 2024 compliance-related expense increase of ~0.4% of AUM to mitigate regional political interference.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eState-level rules can alter collections and operations (e.g., Andhra 2024 impact ~8% of collections)\u003c\/li\u003e\n\u003cli\u003eCentral RBI authority limits but does not eliminate local enforcement risk\u003c\/li\u003e\n\u003cli\u003eSpandana’s active state engagement and 0.4% AUM compliance cost rise in 2024 reduce regulatory disruption\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpandana: Policy tailwinds expand market but RBI caps, state actions compress margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePolitical support for financial inclusion (PMJDY \u0026gt;480M accounts, 2024) and DBT scale (~280M beneficiaries) expands Spandana’s market, while RBI rules (24% interest cap, 50% qualifying assets) and state interventions (Andhra 2024 impact ~8% collections) raise compliance and pricing pressures; Spandana reported NIM 11.2% and compliance costs +0.4% AUM in 2024.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePMJDY accounts\u003c\/td\u003e\n\u003ctd\u003e480M+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDBT beneficiaries\u003c\/td\u003e\n\u003ctd\u003e~280M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital payments\u003c\/td\u003e\n\u003ctd\u003e111B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInterest cap\u003c\/td\u003e\n\u003ctd\u003e24%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNIM (Spandana)\u003c\/td\u003e\n\u003ctd\u003e11.2%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eState impact (Andhra)\u003c\/td\u003e\n\u003ctd\u003e~8% collections\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompliance cost rise\u003c\/td\u003e\n\u003ctd\u003e+0.4% AUM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eExplores how external macro-environmental factors uniquely affect Spandana Sphoorty Financial across Political, Economic, Social, Technological, Environmental, and Legal dimensions, with data-backed trends and region-specific regulatory context to identify risks and opportunities for executives, investors, and strategists.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eCompact PESTLE insight tailored to Spandana Sphoorty that distills external risks and opportunities into a shareable, presentation-ready format—ideal for quick alignment in meetings and supporting strategic decision-making across teams.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eE\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003economic factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest rate environment and cost of funds\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFluctuations in the RBI repo rate—raised from 6.5% in May 2022 to 6.5–6.75% through 2023–24 and held around 6.5% in 2024–25—directly affect Spandana Sphoorty’s borrowing costs, increasing cost of funds for NBFCs. As a mid-sized NBFC with reported FY24 borrowings of ~INR 15,000 crore, its NIM depends on securing low-cost bank and market debt; higher policy rates compressed industry NIMs by ~40–60 bps in 2023–24. Economic cycles that push rates higher risk further margin compression if increased costs cannot be passed fully to microloan borrowers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRural GDP growth and agricultural performance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRural GDP growth and monsoon-linked agriculture drive Spandana Sphoorty Financial’s client incomes; India’s rural GDP rose about 3.5% in FY2024 while kharif foodgrains production hit a record 153.4 million tonnes in 2023–24, supporting loan uptake for livelihoods and microenterprises.\u003c\/p\u003e\n\u003cp\u003eWeak monsoons or a 2024 contraction in farm incomes could raise localized credit stress; MFI GNPA ratios climbed to ~4.2% in FY2024 in drought-affected states, signaling vulnerability to primary-sector shocks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInflationary pressures on low-income households\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHigh inflation—India's CPI at 6.4% in 2024 with food inflation near 8% and petrol\/diesel up ~12% YoY—hits Spandana Sphoorty's low-income clients hardest, as higher food and fuel costs eat into already thin household margins.\u003c\/p\u003e\n\u003cp\u003eRising living costs reduce repayment capacity for microentrepreneurs; Spandana's 2024 GNPA sensitivity could rise if marginal borrowers face 10–15% income shocks.\u003c\/p\u003e\n\u003cp\u003eThe firm must closely track CPI, rural inflation and fuel prices and recalibrate credit scoring, provisioning and tenor policies in near-real time.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital market liquidity and funding access\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eSpandana Sphoorty’s growth hinges on access to equity and debt from domestic and international investors; in FY2024 it reported consolidated AUM of ~INR 20,500 crore, underscoring capital needs for portfolio expansion.\u003c\/p\u003e\n\u003cp\u003eEconomic stability and improving sentiment toward Indian microfinance—industry GNPA for MFIs at ~0.9% in 2024—support steady liquidity inflows.\u003c\/p\u003e\n\u003cp\u003eHowever, market volatility can depress valuations and delay fundraising; Spandana’s ability to complete rounds depends on interest-rate environment and investor risk appetite.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024 AUM ~INR 20,500 crore\u003c\/li\u003e\n\u003cli\u003eIndustry MFI GNPA ~0.9% (2024)\u003c\/li\u003e\n\u003cli\u003eFunding sensitivity to rates and volatility\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEmployment trends in the informal sector\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpa significant portion of spandana borrowers are self-employed or in the informal economy india sector employed about non-agricultural workers sustaining strong demand for microcredit and contributing to a year-on-year rise microloan disbursements fy2024.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eInformal sector dominance: ~81% of non-agri workers (2023)\u003c\/li\u003e\n\u003cli\u003eMicroloan demand: +12% YoY disbursements FY2024\u003c\/li\u003e\n\u003cli\u003eFormalization impact: improved KYC\/GST data strengthens credit scoring, lowering default risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRising RBI rates squeeze NBFC margins as rural demand and inflation test asset quality\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRising RBI rates (~6.5% in 2024–25) raised NBFC funding costs, compressing NIMs by ~40–60 bps in 2023–24; FY24 AUM ~INR 20,500 crore and borrowings ~INR 15,000 crore heighten rate sensitivity. Rural GDP ~3.5% (FY2024) and record kharif output (153.4 mt) supported demand, but CPI 6.4%\/food ~8% and informal-sector exposure (81% non-agri workers) elevate repayment risk.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM FY24\u003c\/td\u003e\n\u003ctd\u003eINR 20,500 cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBorrowings FY24\u003c\/td\u003e\n\u003ctd\u003e~INR 15,000 cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRBI rate\u003c\/td\u003e\n\u003ctd\u003e~6.5%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCPI 2024\u003c\/td\u003e\n\u003ctd\u003e6.4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003eSpandana Sphoorty Financial PESTLE Analysis\u003c\/h2\u003e\n\u003cp\u003eThe preview shown here is the exact Spandana Sphoorty Financial PESTLE Analysis you’ll receive after purchase—fully formatted, professionally structured, and ready to use for strategic decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56751491252601,"sku":"spandanasphoorty-pestle-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/spandanasphoorty-pestle-analysis.png?v=1772232119","url":"https:\/\/growthsharematrix.com\/products\/spandanasphoorty-pestle-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}