Board Meeting Details

The Board of Directors meeting was held on October 19, 2026, commencing at 3:45 PM and concluding at 6:40 PM. The meeting approved the audited financial results (standalone and consolidated) and audited financial statements (standalone and consolidated) for the quarter and half year ended September 30, 2026.

Key Financial Results (Standalone)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Total Income: ₹2,344.75 crore (vs ₹2,057.45 crore in Q2 FY26)
  • Profit Before Tax: ₹706.57 crore (vs ₹696.07 crore in Q2 FY26)
  • Net Profit: ₹554.26 crore (vs ₹549.00 crore in Q2 FY26)
  • Basic & Diluted EPS: ₹1.97 (vs ₹1.97 in Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Total Income: ₹4,594.29 crore (vs ₹4,016.98 crore in H1 FY26)
  • Profit Before Tax: ₹1,119.28 crore (vs ₹1,000.70 crore in H1 FY26)
  • Net Profit: ₹891.75 crore (vs ₹795.68 crore in H1 FY26)
  • Basic & Diluted EPS: ₹3.17 (vs ₹2.88 in H1 FY26)

Revenue Breakdown (H1 FY27):

  • Interest Income: ₹4,514.77 crore
  • Fees and Commission Income: ₹48.79 crore
  • Net gain on Fair Value Changes: ₹8.14 crore
  • Other Operating Income: ₹20.39 crore
  • Other Income: ₹2.20 crore

Expense Breakdown (H1 FY27):

  • Finance Cost: ₹2,717.52 crore
  • Net Translation/Transaction Exchange Loss: ₹13.10 crore
  • Impairment on Financial Instruments: ₹605.35 crore
  • Employee Benefits Expenses: ₹62.46 crore
  • Depreciation, Amortization and Impairment: ₹20.20 crore
  • Other Expenses: ₹35.95 crore
  • Corporate Social Responsibility Expense: ₹20.43 crore

Assets and Liabilities Position (Standalone as of September 30, 2026)

Assets:

  • Total Assets: ₹97,985.76 crore
  • Financial Assets: ₹96,791.22 crore
  • Cash and Cash Equivalents: ₹120.43 crore
  • Bank Balance other than cash: ₹875.44 crore
  • Derivative Financial Instruments: ₹796.08 crore
  • Trade Receivables: ₹2.60 crore
  • Loans: ₹93,961.30 crore
  • Investments: ₹1,001.58 crore
  • Other Financial Assets: ₹33.79 crore
  • Non-financial Assets: ₹1,194.54 crore
  • Current Tax Assets: ₹158.12 crore
  • Deferred Tax Assets: ₹624.38 crore
  • Property, Plant and Equipment: ₹166.64 crore
  • Right of use Assets: ₹135.33 crore
  • Intangible Assets: ₹3.53 crore
  • Other Non-Financial Assets: ₹106.52 crore

Liabilities and Equity:

  • Total Liabilities and Equity: ₹97,985.76 crore
  • Financial Liabilities: ₹83,288.45 crore
  • Derivative Financial Instruments: ₹100.86 crore
  • Trade Payables: ₹2.10 crore
  • Debt Securities: ₹29,922.03 crore
  • Borrowings: ₹47,702.86 crore
  • Subordinated Liabilities: ₹3,257.48 crore
  • Other Financial Liabilities: ₹2,303.12 crore
  • Non-financial Liabilities: ₹359.91 crore
  • Provisions: ₹191.75 crore
  • Other Non-Financial Liabilities: ₹168.16 crore
  • Equity: ₹14,337.40 crore
  • Equity Share Capital: ₹2,809.23 crore
  • Other Equity: ₹11,528.17 crore

Cash Flow Statement (Standalone H1 FY27)

  • Net Cash Flow from Operating Activities: (₹2,732.22) crore
  • Net Cash Flow from Investing Activities: (₹77.88) crore
  • Net Cash Flow from Financing Activities: ₹2,915.89 crore
  • Net Increase in Cash and Cash Equivalents: ₹105.79 crore
  • Cash and Cash Equivalents at End: ₹120.43 crore

Key Ratios and Metrics (Standalone)

  • Debt Equity Ratio: 5.64 times
  • Net Worth: ₹14,337.40 crore
  • CRAR: 19.83%
  • Gross NPA Ratio: 3.57%
  • Net NPA Ratio: 1.08%
  • Operating Margin: 24.33%
  • Net Profit Margin: 19.41%

Consolidated Financial Highlights

  • Total Income (H1 FY27): ₹4,597.48 crore
  • Net Profit (H1 FY27): ₹890.67 crore
  • Total Assets: ₹98,046.80 crore
  • Net Worth: ₹14,340.44 crore

Important Notes and Disclosures

Impairment and Provisioning:

  • Cumulative impairment allowance stands at ₹3,293.28 crore as of September 30, 2026
  • Provisioning coverage: Stage I & II: 0.89%, Stage III: 70.44%, Total: 3.38%
  • Provisioning required under RBI IRACP norms: ₹3,277.05 crore

Fraud Cases:

  • Three fraud cases amounting to ₹672.74 crore reported to RBI during H1 FY27
  • One case pertains to Arjuna Biofuels (₹Nil crore) and two cases pertain to Gensel Group (₹672.74 crore)
  • 100% ECL provision has already been made for these exposures

Debt and Security:

  • Security cover of 3.97 times maintained for outstanding debt securities
  • Total financial indebtedness: ₹80,882.37 crore
  • No defaults in repayment of debt securities, borrowings, or subordinated liabilities
  • No funds raised through non-convertible securities during the quarter

Related Party Transactions:

  • Detailed disclosures provided in Annexure-E
  • Transactions include loans, investments, and other financial arrangements with related parties

Additional Information

  • Company's primary business is providing finance for Renewable Energy & related projects
  • All activities carried out in India with no reportable segments as per Ind AS 108
  • Previous period figures have been re-arranged/re-grouped for comparability