Summary of Key Information:

Reporting Period: Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Regulatory filing of unaudited financial results under SEBI Listing Regulations

Audit Opinion:

Unmodified opinion issued by joint statutory auditors M/s. KKC & Associates LLP and M/s. V. Sankar Aiyar & Associates

Key Financial Highlights [INR in Lakhs]:

Standalone Results:

Quarter ended September 30, 2026:

  • Revenue from Operations: ₹71,941 (Q2 FY26: ₹53,538, +34% YoY; Q1 FY27: ₹66,993, +7% QoQ)
  • Interest Income: ₹69,201 (Q2 FY26: ₹50,770, +36% YoY; Q1 FY27: ₹64,457, +7% QoQ)
  • Fee and Commission Income: ₹2,312 (Q2 FY26: ₹2,259; Q1 FY27: ₹2,411)
  • Net Gain on fair value changes: ₹428 (Q2 FY26: ₹509; Q1 FY27: ₹125)
  • Total Income: ₹71,979 (Q2 FY26: ₹53,599, +34% YoY; Q1 FY27: ₹67,025, +7% QoQ)
  • Finance Cost: ₹28,834 (Q2 FY26: ₹21,384; Q1 FY27: ₹27,269)
  • Impairment on financial instruments: ₹2,708 (Q2 FY26: ₹3,152; Q1 FY27: ₹3,406)
  • Employee benefit expense: ₹12,654 (Q2 FY26: ₹10,523; Q1 FY27: ₹12,063)
  • Profit before tax: ₹17,800 (Q2 FY26: ₹10,747, +66% YoY; Q1 FY27: ₹15,348, +16% QoQ)
  • Tax expense: ₹4,725 (Q2 FY26: ₹2,732; Q1 FY27: ₹3,910)
  • Current tax: ₹5,256 (Q2 FY26: ₹2,568; Q1 FY27: ₹4,390)
  • Deferred tax: (₹531) (Q2 FY26: ₹164; Q1 FY27: (₹480))
  • Net Profit for the period: ₹13,075 (Q2 FY26: ₹8,015, +63% YoY; Q1 FY27: ₹11,438, +14% QoQ)
  • Other Comprehensive Income: ₹2,662 (Q2 FY26: (₹1,237); Q1 FY27: (₹4,666))
  • Total Comprehensive Income: ₹15,737 (Q2 FY26: ₹6,778; Q1 FY27: ₹6,772)
  • EPS Basic: ₹3.56 (Q2 FY26: ₹2.15; Q1 FY27: ₹3.05)
  • EPS Diluted: ₹3.53 (Q2 FY26: ₹2.13; Q1 FY27: ₹3.03)

Half Year ended September 30, 2026:

  • Revenue from Operations: ₹1,38,934 (H1 FY26: ₹1,05,198, +32% YoY)
  • Total Income: ₹1,39,004 (H1 FY26: ₹1,05,324, +32% YoY)
  • Profit before tax: ₹33,148 (H1 FY26: ₹20,782, +59% YoY)
  • Net Profit for the period: ₹24,513 (H1 FY26: ₹15,516, +58% YoY)
  • Total Comprehensive Income: ₹22,509 (H1 FY26: ₹14,979, +50% YoY)
  • EPS Basic: ₹6.54 (H1 FY26: ₹4.16)
  • EPS Diluted: ₹6.48 (H1 FY26: ₹4.12)

Balance Sheet Position as at September 30, 2026 [INR in Lakhs]:

  • Total Assets: ₹18,54,036 (March 31, 2026: ₹16,87,478)
  • Financial Assets: ₹18,17,256 (March 31, 2026: ₹16,56,352)
  • Loans: ₹16,02,001
  • Investments: ₹79,853
  • Other financial assets: ₹21,734
  • Non-Financial Assets: ₹36,780
  • Total Liabilities: ₹15,37,540 (March 31, 2026: ₹13,94,868)
  • Financial Liabilities: ₹15,29,838 (March 31, 2026: ₹13,90,035)
  • Borrowings (other than debt securities): ₹11,79,798
  • Debt securities: ₹1,89,449
  • Subordinated Liabilities: ₹90,949
  • Equity: ₹3,16,496 (March 31, 2026: ₹2,92,610)
  • Paid-up equity share capital: ₹37,514
  • Reserves: ₹2,78,982

Cash Flow Statement for Half Year ended September 30, 2026 [INR in Lakhs]:

  • Net cash used in operating activities: (₹71,888) (H1 FY26: ₹27,275)
  • Net cash used in investing activities: (₹39,203) (H1 FY26: (₹1,912))
  • Net cash generated from financing activities: ₹54,486 (H1 FY26: (₹48,001))
  • Net decrease in cash and cash equivalents: (₹56,605) (H1 FY26: (₹22,638))
  • Cash and cash equivalents at end of period: ₹77,368 (H1 FY26: ₹49,822)

Key Ratios and Metrics:

  • Debt-Equity Ratio: 4.61x (June 30, 2026: 4.89x; March 31, 2026: 4.61x; September 30, 2025: 3.78x)
  • Current Liability Ratio: 0.41 (June 30, 2026: 0.37; March 31, 2026: 0.37; September 30, 2025: 0.36)
  • Total debts to total assets: 0.79 (June 30, 2026: 0.81; March 31, 2026: 0.80; September 30, 2025: 0.77)
  • Net Worth: ₹3,16,496 (June 30, 2026: ₹3,00,276; March 31, 2026: ₹2,92,610; September 30, 2025: ₹2,70,977)
  • CRAR: 20.96% (June 30, 2026: 20.71%; March 31, 2026: 22.40%; September 30, 2025: 21.64%)
  • Gross NPA: 1.82% (June 30, 2026: 1.55%; March 31, 2026: 1.87%; September 30, 2025: 1.90%)
  • Net NPA: 1.18% (June 30, 2026: 0.96%; March 31, 2026: 1.28%; September 30, 2025: 1.30%)
  • Liquidity Coverage Ratio: 156.85% (June 30, 2026: 157.00%; March 31, 2026: 152.00%; September 30, 2025: 140.04%)
  • Provision Coverage Ratio: 35.37% (June 30, 2026: 38.36%; March 31, 2026: 32.29%; September 30, 2025: 31.99%)
  • Net Profit Margin: 18.17% (Q2 FY26: 14.95%; Q1 FY27: 17.07%)

Corporate Actions:

  • During the quarter, the company allotted 2,35,701 equity shares of ₹10 each fully paid up on exercise of options by employees under Employee Stock Option Schemes
  • No dividend declared in this quarter
  • No share split, bonus issue, or buyback announced

Other Significant Information:

  • The company transferred non-performing assets with aggregate principal outstanding of ₹48 lakhs during the quarter
  • Through assignment, the company transferred loans not in default worth ₹87,689 lakhs with weighted average residual maturity of 23 months
  • The company did not acquire any loans through assignment or stressed loans during the quarter
  • Previous period figures have been regrouped/reclassified for comparability

Related Party Transactions for Half Year ended September 30, 2026:

  • Interest received from The Federal Bank Limited (Promoter): ₹9.40 lakhs
  • Interest paid to The Federal Bank Limited: ₹5,032 lakhs (Term Loan: ₹3,699 lakhs, WCDL: ₹169 lakhs, NCDs: ₹1,165 lakhs)
  • MTM Gain on Derivative instrument with The Federal Bank Limited: ₹698 lakhs
  • Brand usage charges paid to The Federal Bank Limited: ₹185 lakhs
  • Remuneration to Key Managerial Personnel:
  • MD & CEO: ₹308 lakhs
  • CFO: ₹158 lakhs
  • Company Secretary: ₹40 lakhs
  • Director Sitting Fees: ₹46 lakhs across various directors
  • ESOP exercise by CFO: ₹111 lakhs