Capri Global Q2 PAT Rises 77% YoY

Consolidated AUM reached ₹438,785 mn in H1FY27, a 62% YoY increase from ₹270,400 mn in H1FY26.
Total branch network expanded to 1,609 branches in Q2FY27 from 1,433 branches in Q1FY27.
Gold Loan network increased to 1,154 branches across 17 states and UTs.
Non-Gold Business (MSME, Housing Finance, Construction Finance) operated through 455 branches in 20 States and UTs.
Car Loan distribution locations stood at 821 as of September 2026, consolidated into 19 branches.
Key drivers: Branch expansion, co-lending partnerships, and diversified product offerings across MSME, Gold Loans, Housing Finance, and Construction Finance.

MSME AUM: Includes MSME, Micro LAP and Solar Loans (values inclusive of co-lending and directly assigned AUM).
Gold Loan AUM: Values inclusive of co-lending and directly assigned AUM.
Housing AUM: Values inclusive of co-lending and directly assigned AUM.
Construction Finance: Continued with 3 dedicated branches – Bengaluru, Hyderabad and Ahmedabad.

Revenue (Net Interest Income): ₹15,488 mn for H1FY27 (74% YoY growth from ₹8,920 mn in H1FY26).
EBITDA: Not explicitly stated; Operating Profit was ₹11,683 mn for H1FY27 (78% YoY growth).
PAT: ₹7,717 mn for H1FY27 (88% YoY growth from ₹4,109 mn in H1FY26). Q2FY27 PAT was ₹4,183 mn (77% YoY growth).
EPS: Not specified in the presentation.
Margins: Cost-Income Ratio improved to 42.6% in H1FY27 from 48.1% in H1FY26 (546 bps improvement). Net Interest Margin was 8.5% in Q2FY27.
YoY/QoQ comparison: Q2FY27 Net Interest Income grew 69% YoY to ₹8,125 mn; Operating Profit grew 84% YoY to ₹6,363 mn.
Drivers: Higher AUM growth, improved yields, and operational efficiencies.
Comparison to market estimates: Not provided.
Key Risks: Not explicitly disclosed in the presentation.

Domestic vs Export/Regional Revenue: Not specified.
Regional Breakdown: Gold Loan AUM showed geographical distribution but specific revenue split not provided.

Net Debt/Equity: Not explicitly stated; Total Equity stood at ₹79,576 mn in Q2FY27 vs Borrowings of ₹304,890 mn.
Reserves: Reserves and Surplus were ₹78,614 mn in Q2FY27.
Current Assets/Liabilities: Cash and Bank Balances were ₹28,350 mn; Other Liabilities and Provisions were ₹15,929 mn.
Working Capital/Leverage Metrics: Not specifically provided.
Financial Health Insights: Total current liquidity of ₹60,569 mn in cash, bank balances, investments and undrawn credit lines.

Capital Expenditure: Not explicitly stated.
Free Cash Flow: Not provided.
Operating Cash Flow: Not provided.
Net Debt Movement: Not provided.
Investment Rationale: Focus on branch expansion (750-800 new branches over next 2 years) and technology upgrades.

Investments in Innovation: Implementing Agentic AI tools for efficiency, productivity, and customer experience.
Expected impact: Increase sales productivity across MSME/HL/Gold segments.
Strategic Rationale: Diversify product offerings, geographic expansion, leverage technology for operational excellence, drive fee income through cross-selling, and diversify borrowings.

Macro/Industry Trends: Rising financialization of gold holdings, strong demand from informal sector borrowers, fast collateral-backed lending, expansion of organized players replacing unorganized pawn brokers, digital disbursement improving reach.
Impact on Company: Enabling growth in Gold Loan, MSME, and Housing Finance segments through expanded reach and product offerings.

Strategic Outlook: Target of ₹650 bn AUM by FY28 and ₹1,250 bn+ by FY31 growing at 28-30% CAGR.
FY Guidance: Target to deliver consistent RoAE of 19.0%-21.0% and RoAA of 4.2%-4.7%.
Market Share Targets: Not explicitly stated.
Risks and Opportunities: Not specifically highlighted in the presentation.

Environmental: 23% reduction of e-waste compared to FY2023-24; 500+ kg waste recycled; 500+ solar lights installed; 100+ acres under climate resilient cultivation; 15,300 KL water harvesting capacity created.
Social: 15,519 beneficiaries reached including 13,287 women; 8,500+ students supported; 1,200+ farmers trained; zero fatalities; 100 training sessions benefitting 8,179 individuals; 681 SHGs formed; 10,000+ women impacted.
Governance: 100% DEI training for senior management; 5 out of 6 independent directors; zero cases of discrimination, harassment, money laundering, insider trading, conflict of interest, or cybersecurity breaches.
ESG Scores: SES ESG 75 (B+); NSE Sustainability 73; CRISIL ESG 64 (strong); S&P Global CSA 72 (industry average 29).