Financial Results Overview

Quarter Ended September 30, 2026 (Unaudited):

  • Revenue from operations: ₹50,053 million
  • Profit before tax: ₹10,437 million
  • Net profit: ₹7,802 million
  • Basic EPS: ₹9.39
  • Diluted EPS: ₹9.37

Half Year Ended September 30, 2026 (Unaudited):

  • Revenue from operations: ₹99,432 million
  • Profit before tax: ₹20,988 million
  • Net profit: ₹15,654 million
  • Basic EPS: ₹18.85
  • Diluted EPS: ₹18.81

Comparative Performance (YoY):

  • Q2 Net profit increased 34.2% from ₹5,814 million in Q2 FY26
  • Half year Net profit increased 36.2% from ₹11,493 million in H1 FY26

Revenue Breakdown (Q2 FY27):

  • Interest income: ₹43,508 million
  • Sale of services: ₹2,972 million
  • Other financial charges: ₹3,454 million
  • Net gain on fair value changes: ₹119 million

Expense Breakdown (Q2 FY27):

  • Finance costs: ₹18,171 million
  • Impairment of financial instruments: ₹7,299 million
  • Employee benefits expenses: ₹10,164 million
  • Depreciation, amortisation and impairment: ₹574 million
  • Others expenses: ₹3,408 million

Tax Expense (Q2 FY27):

  • Current tax: ₹3,207 million
  • Deferred tax: (₹572) million
  • Total tax expense: ₹2,635 million

Balance Sheet Position (as of September 30, 2026):

  • Total assets: ₹13,07,770 million
  • Financial assets: ₹12,88,363 million (including loans net of ₹12,03,786 million)
  • Total liabilities: ₹10,86,238 million
  • Equity: ₹2,21,532 million
  • Debt-equity ratio: 4.94 times
  • Net worth: ₹2,11,210 million

Key Ratios (as of September 30, 2026):

  • Capital adequacy ratio: 21.37%
  • Gross Stage 3 ratio: 2.43%
  • Net Stage 3 ratio: 1.09%
  • Liquidity coverage ratio: 164.22%
  • Stage 3 provision coverage ratio: 55.00%
  • Current ratio: 1.03 times
  • Net profit margin: 15.59%

Dividend Declaration

The Board declared an interim dividend of ₹2.00 per equity share (20% on face value) for FY 2026-27. The record date is fixed as October 23, 2026.

Management Changes

Based on the recommendation of the Nomination & Remuneration Committee, the Board approved the appointment of Mr. Vinod Koyande as Company Secretary (Key Managerial Personnel) and Compliance Officer under SEBI regulations, effective October 31, 2026, replacing Ms. Dipti Khandelwal.

Mr. Koyande is a qualified Company Secretary, Law Graduate (LL.B.) and Master of Commerce (M.Com.) with over 15 years of professional experience in corporate governance, regulatory compliance, capital markets, and secretarial functions across leading listed organizations.

Regulatory Compliance Documents Submitted

1. Unaudited Financial Results along with Limited Review Reports issued by Joint Statutory Auditors (GD Apte & Co and Kalyaniwalla & Mistry LLP)

2. Disclosures in compliance with Regulation 52(4) of SEBI Listing Regulations

3. Certificate of Security Cover pursuant to Regulation 54(3) of SEBI Listing Regulations

4. Statement of utilization of issue proceeds and statement of deviation(s) or variation(s) for quarter ended September 30, 2026

5. Statement of deviation(s) or variation(s) in respect of Public Issue for quarter ended September 30, 2026

Security Cover Details

As of September 30, 2026, the security cover available for secured non-convertible debt securities is 1.03x, and the asset cover for unsecured non-convertible debt securities is 2.76x.

IPO Proceeds Utilization

The Company raised ₹25,000 million through fresh issue in its IPO (listed July 2, 2025). As of September 30, 2026, ₹24,566 million has been utilized for augmenting capital base, and ₹434 million for IPO expenses. ₹63 million remains unutilized from estimated IPO expenses parked in escrow accounts.

Segment Reporting

The Company operates in two segments:

1. Lending business: Q2 revenue ₹10,418 million

2. BPO Services: Q2 revenue ₹179 million

Co-lending Arrangements

As of September 30, 2026:

  • Number of CLA partners: 1
  • Number of outstanding cases: 1,80,298
  • Amount of Gross Outstanding: ₹14,204.77 million
  • Weighted average rate of interest: 25.99%
  • Fees charged/paid during period: ₹62.22 million
  • Gross Stage 3: 0.80%, Net Stage 3: 0.06%

Board Meeting Details

The Board meeting commenced at 10:40 a.m. and concluded at 3:45 p.m. on October 14, 2026.

Auditor Review

The Limited Review Report by joint statutory auditors contains an unmodified opinion, confirming the financial results are prepared in accordance with Indian Accounting Standard 34 and comply with SEBI Listing Regulations.