In the Philippines, the use of non-native earthworm species in vermicomposting is popular. Given that the country is a vital geographical resource for earthworm diversity, the study of earthworm species to establish the potential of their vermicasts in agricultural applications is essential. In this study, the bacteria associated with the vermicasts of the recently described indigenous species, Pheretima losbanosensis, were investigated using next-generation sequencing, community-level physiological profiling, and NPK activity screening. The results showed diverse bacterial species belonging to the phyla Proteobacteria, Bacteroidetes, Acidobacteria, Actinobacteria, Chloroflexi, Firmicutes, Gemmatimonadetes, Nitrospirae, Planctomycetes, Spirochaetes, Thermodesulfobacteria, and Verrucomicrobia. Higher diversity and carbon substrate utilization (p < 0.05) of amines and amides, phenolic compounds, polymers, and carboxylic and acetic acids were exhibited by the bacterial communities of P. losbanosensis compared to those of Eudrilus eugeniae. Likewise, bacteria (n = 25) isolated from P. losbanosensis vermicasts had higher nitrogen fixation and phosphate and potassium solubilization activities (p < 0.05) than the bacteria (n = 20) isolated from E. eugeniae vermicasts. Overall, our results indicate that the diverse bacterial communities inhabiting the vermicasts of P. losbanosensis have nutrient mineralization and carbon substrate utilization activities that may have applications in sustainable agriculture as a potential organic input to promote plant growth and improve soil substrate.