Board Meeting Details

The Board of Directors meeting was held on Thursday, August 6, 2026. It commenced at 11:00 AM and concluded at 1:00 PM.

Key Approvals

1. Approval of Financial Results: The Board approved the unaudited Financial Results (both Consolidated and Standalone) for the quarter ended June 30, 2026 (Q1 FY27). The Statutory Auditors, M/s. Nangia & Co. LLP, have reviewed the results and issued an unmodified opinion.

2. Fundraising Approval: The Board approved raising funds by way of a public issue of Non-Convertible Debentures (NCDs) for an amount not exceeding ₹1,000 crores, in one or more tranches.

Enclosures Submitted

In accordance with SEBI Listing Regulations, the following documents were enclosed with the submission:

  • Statement of utilisation of proceeds of Non-convertible Debentures for the quarter ended June 30, 2026.
  • Security Cover Certificate as on June 30, 2026.

Detailed Financial and Operational Highlights (Consolidated)

Q1 FY27 Consolidated Performance (vs. YoY)

  • Revenue: ₹2,419 Cr
  • PAT (Pre-MI): ₹134 Cr (Up 31% YoY)
  • PAT (Post-MI): ₹122 Cr (Up 83% YoY)
  • Total Comprehensive Income: ₹288 Cr
  • Earnings Per Share (Basic): ₹1.42
  • Earnings Per Share (Diluted): ₹1.40

Balance Sheet Strength (Consolidated as of June 30, 2026)

  • Net Worth: ₹5,959 Cr
  • Consolidated Net Debt: ₹11,160 Cr
  • Corporate Net Debt: ₹5,725 Cr (Declined 10% YoY)
  • Consolidated Liquidity: ₹6,100 Cr
  • Capital Adequacy: Over 27% across credit entities

Business Segment Performance (Q1 FY27)

1. Alternative Asset Management

  • Fee Paying AUM: ₹48,623 Cr (Up 27% YoY)
  • PAT: ₹81 Cr (Up 45% YoY)
  • Annualized ROE: 29% (Up 700 bps YoY)

2. Mutual Fund

  • Equity AUM: ₹96,000 Cr (Up 32% YoY); Crossed ₹1 Tn in July 2026.
  • Total AUM: ₹1,76,200 Cr (Up 16% YoY)
  • Net Equity Inflows: ₹6,400 Cr (Up 2.5x YoY)
  • SIP Book: ₹696 Cr (Up 63% YoY)
  • Retail Folios: 40 Lakhs (Up 49% YoY)
  • SIF AUM: Crossed ₹6,000 Cr; Launched 2nd SIF fund.

3. Asset Reconstruction

  • Recoveries: ₹304 Cr in the quarter.
  • Retail Assets Acquisition: ₹300 Cr in the quarter.
  • Share of Retail Assets in Capital Employed: 26%
  • Annualized RoE: 13% (Up ~200 bps YoY)

4. NBFC

  • MSME Disbursements: ₹353 Cr (Up 3x YoY)
  • Gross Loan Book: ₹2,127 Cr (Up 90% YoY)
  • GNPA: 2.19% (Improved 100 bps YoY)
  • NNPA: 1.23% (Improved 60 bps YoY)
  • Wholesale Book: Reduced to ₹600 Cr (from peak of ₹18,000 Cr in Mar'19)

5. Housing Finance (Nido)

  • AUM: ₹4,900 Cr (Up 14% YoY)
  • Disbursements: ₹218 Cr
  • GNPA: 2.91%
  • NNPA: 2.37%

6. General Insurance

  • Gross Written Premium (GWP): ₹415 Cr (Up 58% YoY)
  • Gross Direct Premium Income (GDPI): Up 62% YoY (vs. industry growth of 11%)
  • Motor GDPI: Up 71% YoY (vs. industry growth of 14%)
  • Policies Issued: 2,41,236 (Up 68% YoY)

7. Life Insurance

  • Gross Premium: ₹287 Cr
  • Policies Issued: 9,363
  • Total AUM: ₹10,933 Cr (Up 13% YoY)
  • Embedded Value: ₹2,306 Cr
  • Par & Non-Par products constituted 77% of new business premium.

Customer & Asset Growth

  • Customer Reach: Over 14 Million (Up 30% YoY)
  • Customer Assets: ₹2.8 Tn (Up 23% YoY)

Key Strategic Focus Areas for FY27

  • Listing of EAAA: IPO planned in Q3 FY27.
  • Carlyle Investment in Nido Home Finance: Closure expected in September 2026, pending regulatory approvals.
  • Scaling profitability in Asset Management businesses.
  • Achieving breakeven in Insurance businesses.
  • Calibrated scale-up in Credit businesses.

Standalone Financial Results (Q1 FY27)

  • Net Profit After Tax: ₹69.88 Cr
  • Earnings Per Share (Basic): ₹0.74
  • Earnings Per Share (Diluted): ₹0.73
  • Net Worth: ₹6,140.99 Cr

Regulatory & Compliance Disclosures

NCD Proceeds Utilization

The company confirmed that the proceeds from NCDs issued and outstanding as of June 30, 2026, have been utilized as per the objects stated in the offer document, with no deviations.

Security Cover Certificate

A certificate from the statutory auditors, Nangia & Co. LLP, confirms that all secured debt securities outstanding as of June 30, 2026, are fully secured. The security cover ratio is reported at 1.40x on a book value basis for exclusive charge assets. The company is in compliance with all covenants specified in the various Debenture Trust Deeds.

Statement of Deviation

A formal statement confirms there was no deviation or variation in the use of funds raised through NCDs during the quarter.

Auditor's Review

The limited review of the consolidated and standalone results was performed by M/s. Nangia & Co. LLP. Their conclusion states that based on their review, nothing has come to their attention that causes them to believe that the accompanying financial results statements contain any material misstatement. The review report includes specific reliance on the reports of auditors for 20 subsidiaries.

Capital Structure Impact

The approval to raise up to ₹1,000 Cr via NCDs will increase the company's debt obligations upon issuance. The disclosure notes the completion of the sale of the company's remaining 5% stake in Edelweiss Asset Management Limited (EAML) and Edelweiss Trusteeship Company Limited (ETCL) during the quarter, as per a Share Purchase Agreement, though this transaction did not have any impact on the Q1 FY27 consolidated results.