Financial Performance Summary

Capital Trust Limited announced its financial results for the quarter ended June 30, 2026, demonstrating a successful transition from turnaround to scalable growth following business transformation in FY26.

Profitability:

  • Reported Profit After Tax (PAT) of ₹0.20 crore for Q1FY27
  • This represents consecutive quarters of profitability following return to operational profitability in Q4FY26

Assets Under Management (AUM):

  • Total AUM increased 52% quarter-on-quarter (QoQ) to ₹239.6 crore
  • AUM composition: ₹29 crore owned balance sheet, ₹211 crore managed through partnerships
  • Secured/Gold Lending AUM: ₹34.7 crore (68% QoQ growth)
  • Secured/Zero-Credit Risk AUM: ₹173.4 crore (72% of total portfolio)

Disbursements:

  • Total quarterly disbursements: ₹111.6 crore (24% QoQ growth)
  • Gold loan monthly disbursement run-rate: approximately ₹5 crore
  • MSME lending monthly disbursement run-rate: approximately ₹30 crore

Asset Quality:

  • Gross NPA: 2.7% (contained)
  • Net NPA: 0%
  • Portfolio quality improved with 72% of AUM now secured or carrying zero credit risk (up from 56% at FY26-end)

Capital Structure & Leverage:

  • External borrowings: ₹15.3 crore (reduced from ₹93.2 crore in March 2025)
  • Debt to Tangible Net Worth (TNW) ratio: 0.6x
  • Capital Adequacy Ratio (CRAR): 40% (strengthened)

Business Model Transformation

The company completed its business transformation in FY26, moving away from unsecured MSME lending on its own balance sheet to two distinct growth engines:

1. Secured Gold Loans (Own Balance Sheet):

  • Moved beyond pilot stage with six operational branches
  • Cumulative disbursements crossed ₹40 crore
  • Onboarded two co-lending partners and three lenders

2. Partner-Led MSME Lending:

  • Utilizes existing 250-branch MSME network through BC and co-lending arrangements
  • Generates fee income with lower balance-sheet and credit-risk intensity
  • Originates, services, and collects MSME loans through partner balance sheets

Management Commentary

Mr. Yogen Khosla, Managing Director, stated that Q1FY27 demonstrates the scalability of the new business model. The strategy focuses on:

  • Gold loans as primary area for incremental balance sheet deployment
  • Term borrowings for secured lending
  • Monetizing MSME network through partner balance sheets
  • Maintaining disciplined risk controls while scaling

FY27 Outlook

The company will continue to:

  • Expand gold loan branch network
  • Raise term borrowings for deployment against secured collateral
  • Deepen BC and co-lending partnerships
  • Maintain disciplined risk controls during scaling

Key Performance Indicators Table

| Metric | Q1FY27 Performance |

| PAT | ₹0.20 Cr |

| Total AUM | ₹239.6 Cr |

| Own Balance Sheet AUM | ₹29 Cr |

| Managed AUM | ₹211 Cr |

| Secured/Gold Lending AUM | ₹34.7 Cr (+68% QoQ) |

| Secured/Zero-Credit Risk AUM | ₹173.4 Cr (72% of portfolio) |

| Quarterly Disbursements | ₹111.6 Cr (+24% QoQ) |

| Gross NPA | 2.7% |

| Net NPA | 0% |

| External Borrowings | ₹15.3 Cr |

| Debt/TNW Ratio | 0.6x |

| Capital Adequacy Ratio | 40% |