Financial Performance Highlights

FY26 Performance

  • Profit After Tax (PAT): ₹281 Cr, up 75% YoY
  • Assets Under Management (AUM): ₹7,066 Cr, up 73% YoY
  • Return on Average AUM (RoAAUM): 5.05% (+22 bps YoY)
  • Return on Equity (RoAE): 23.97% (+622 bps YoY)
  • Diluted EPS: ₹21.4 (vs ₹12.8 in FY25, +67% YoY)
  • Diluted BVPS: ₹113.1 as of Mar-26
  • Cumulative customers served: 11.76 Mn (+28% YoY)

Q4 FY26 Performance

  • PAT: ₹82 Cr, up 57% YoY and 7% QoQ
  • AUM: ₹7,066 Cr, up 73% YoY and 19% QoQ
  • RoAAUM: 5.05% (annualized)
  • RoAE: 25.31% (+379 bps YoY)
  • Diluted EPS: ₹6.2 (vs ₹4.2 in Q4FY25, +48% YoY)

Portfolio Mix & Operating Metrics

  • AUM Mix by Product: Personal Loans (unsecured) at ₹6,548 Cr (92.7% of AUM); Loan Against Property (secured) at ₹518 Cr (7.3% of AUM)
  • AUM Mix by Model: Off-book AUM at ₹3,510 Cr (~50% of total) across 8 partners
  • Lending Partners: 45+ active lending and co-lending partners
  • Distribution: 100% digital PL sourcing; LAP delivered through 98 branches across 8 states & UTs
  • Collections: >95% in-house Automated Collections System; 99.2% digital collections share

Asset Quality & Provisioning

  • Gross NPA (Stage 3): 2.12% (improved 78 bps QoQ and 77 bps YoY)
  • Net NPA: 0.29% (-9 bps QoQ)
  • Stage 3 Provision Coverage Ratio: 86.15%
  • ECL coverage on Stage 2 assets: 75.6% (vs 62.5% in Q3FY26)
  • Collection Efficiency (DPD 30): 97.15% (+16 bps QoQ)

Capital Position & IPO Proceeds Deployment

  • Net Worth: ₹1,343 Cr (+33% YoY)
  • CRAR: 25.28% with Tier-1 at 24%
  • Debt-to-Equity: 1.78x
  • Credit Rating: CRISIL upgraded to A-/Stable
  • IPO Details: Completed and listed on May 8, 2026; fresh issue of ₹850 Cr; overall subscription of 9.9x (QIB 25.9x); listing premium of 11.7% over upper price band
  • IPO Proceeds Deployment: Approximately 75% of primary issue proceeds (~₹637 Cr) infused as fresh equity into NBFC subsidiary, Si Creva Capital Services Private Limited, on May 16, 2026. Proceeds are being deployed for onward lending and portfolio expansion.

FY27 Guidance & Outlook

  • AUM growth target: 40%+
  • Credit cost expected to reduce 10-15% YoY
  • GNPA targeted to remain below 2.25%
  • RoAAUM expected in 4.5-5.0% range
  • RoAE expected in 19-21% range

Management Commentary

Mr. Ranvir Singh, Founder & CEO, stated: "FY26 marks a defining milestone in Kissht's journey as we present our first quarterly and annual results as a listed company. The year reflected the strength of our governance and risk management framework as the sector continued to navigate the after-effects of overleverage concerns witnessed during FY25. Our continued focus on model-based underwriting, disciplined portfolio management, and calibrated growth has enabled us to navigate the environment with resilience and consistency. With strong capitalisation post the IPO and a measurable improvement in portfolio quality, we are well placed to scale our franchise responsibly in FY27 and beyond."

Company Background

Founded in 2016 and headquartered in Mumbai, Kissht is a technology-first digital lending platform serving India's mass market and mass affluent segments. Through its NBFC-Middle Layer subsidiary, Si Creva Capital Services Private Limited, Kissht offers Personal Loans and Loan Against Property to salaried and self-employed customers. The Company leverages a proprietary AI/ML underwriting framework using 7,000+ variables.