Financial Performance Highlights (Q2 FY27)

Profit & Loss (₹ Crore):

  • Total Income: ₹740 crore, up 9.4% QoQ and 43.1% YoY
  • Finance Cost: ₹72 crore, down 11.6% QoQ and up 1.2% YoY
  • Net Total Income: ₹668 crore, up 12.3% QoQ and 49.8% YoY
  • Operating Expenses: ₹381 crore, up 12.3% QoQ and 58.2% YoY
  • Pre-Provision Operating Profit: ₹287 crore, up 12.3% QoQ and 39.9% YoY
  • Impairment Cost: ₹133 crore, up 3.9% QoQ and 8.7% YoY
  • Profit Before Tax: ₹154 crore, up 20.8% QoQ and 85.8% YoY
  • Tax: ₹29 crore, down 10.7% QoQ and up 41.7% YoY
  • Profit After Tax: ₹125 crore, up 31.6% QoQ and 100.4% YoY
  • Earnings Per Share (Basic): ₹7.3 (not annualized)
  • Earnings Per Share (Diluted): ₹7.1 (not annualized)

Assets Under Management:

  • Total AUM: ₹9,317 crore as of September 30, 2026
  • YoY Growth: 68% increase from Q2 FY26
  • QoQ Growth: 16% increase from Q1 FY27
  • On-book AUM: ₹4,199 crore (subsidiary NBFC portfolio)
  • Off-book AUM: ₹5,118 crore (asset light model)

Return Metrics:

  • Return on Average AUM (RoAAUM): 5.8% in Q2 FY27
  • Return on Equity (RoAE): 21.7% in Q2 FY27

Asset Quality Performance

Portfolio Metrics:

  • Gross NPA: 2.18% as of September 2026 (75 bps YoY improvement, 7 bps QoQ improvement)
  • Collection Efficiency Ratio (DPD 1-30): 97.7%
  • Digital Collection Share: 99.2%
  • NACH and UPI Mandate Availability: 100%

Stage-wise Asset Mix (On-book AUM):

  • Stage 1 Assets: 95.4% (Sep-26) vs 94.6% (Jun-26) vs 93.0% (Sep-25)
  • Stage 2 Assets: 2.4% (Sep-26) vs 3.1% (Jun-26) vs 4.1% (Sep-25)
  • Stage 3 Assets: 2.2% (Sep-26) vs 2.2% (Jun-26) vs 2.9% (Sep-25)

ECL Coverage:

  • Stage 1 ECL: 3.9% (Sep-26) vs 3.4% (Jun-26) vs 3.4% (Sep-25)
  • Stage 2 ECL: 77.6% (Sep-26) vs 80.4% (Jun-26) vs 59.6% (Sep-25)
  • Stage 3 ECL: 84.6% (Sep-26) vs 84.1% (Jun-26) vs 89.0% (Sep-25)
  • Management Overlay Amount: ₹136 crore (unchanged from Jun-26 and Mar-26)
  • Provision Coverage & MO for Stage 2 & Stage 3: 152% (Sep-26) vs 150% (Jun-26) vs 134% (Sep-25)

Liability and Capital Structure

Debt Profile (On-book):

  • Total Debt: ₹2,227 crore
  • Debt-to-Equity Ratio: 0.94x
  • Average Cost of Borrowings: 13.76%
  • Lender Diversity: 45+ lending partners

Funding Sources Breakdown:

  • Banks: 47%
  • Capital Markets: 19%
  • Financial Institutions: 16%
  • Others: 18%

Off-book Partnership Model:

  • 8+ off-book partners
  • Three arrangement types: 100-0 (100% on partner books), Co-lending (5-20% retained), Direct Assignment (post-disbursement)

Capital Adequacy:

  • CRAR: 31.7% as of September 30, 2026 (well above regulatory requirements)

Equity Capital Raise

Preferential Issue Details:

  • Total Issue Size: ₹832.2 crore
  • Shares Allotted: 2.65 crore equity shares
  • Number of Investors: 34 allottees
  • Instrument: Equity shares
  • Route: Preferential issue on private placement basis under Chapter V, SEBI ICDR Regulations
  • In-principle approval from exchanges: October 19, 2026
  • Allotment Date: October 23, 2026

Select Investors: Bace Fund, FIL Limited, HDFC Life Insurance Company Limited, ICICI Prudential Life Insurance Company Limited, ICICI Prudential Mutual Fund, Kotak Mahindra Life Insurance Company Limited, Mirae Asset Mutual Fund, SBI Life Insurance Company Limited, SBI Mutual Fund, Tata AIA Life Insurance Company Limited

Business Operations Update

Customer Base:

  • Customers Served: 12.80 million
  • Registered User Base: 79.54 million

Product Mix:

  • Personal Loans: ₹8,580 crore AUM (92.1% of total)
  • Loan Against Property: ₹737 crore AUM (7.9% of total)
  • LAP Growth: Increased from 4.1% of AUM in Sep-25 to 7.9% in Sep-26
  • LAP Branches: 107 locations
  • LAP LTV: 50%

Geographic Distribution:

  • 78% of customers from Top 100 cities
  • 45% salaried customers

Technology & AI Implementation:

  • Proprietary AI/ML underwriting using 7,200+ variables
  • AI-powered collections achieving 85% of human recovery rate in early delinquency
  • 80%+ of code written with AI assistance
  • AI-powered document recognition improving first-time right by 30%

Credit Ratings:

  • Subsidiary NBFC (Si Creva Capital Services Private Limited) ratings: A-/Stable by CRISIL, A-/Stable by India Ratings, A/Stable by Acuité Ratings

Balance Sheet Position (as of September 30, 2026)

Assets (₹ Crore):

  • Cash & Cash Equivalents: ₹454
  • Bank Balances: ₹7
  • Loans: ₹3,754
  • Other Financial Assets: ₹512
  • Non-Financial Assets: ₹238
  • Total Assets: ₹4,965

Liabilities & Equity (₹ Crore):

  • Trade Payables: ₹116
  • Debt Securities: ₹1,189
  • Other Borrowings: ₹1,038
  • Other Financial Liabilities: ₹168
  • Non-Financial Liabilities: ₹77
  • Total Equity: ₹2,377

Per Share Data:

  • Book Value Per Share (Basic): ₹133.5
  • Book Value Per Share (Diluted): ₹130.7

Corporate Governance

Board of Directors:

  • Ranvir Singh - Chairman, Director & CEO
  • Krishnan Vishwanathan - Director & CFO
  • Alok Bansal - Independent Director
  • Sangeeta Tanwani - Independent Director
  • Yogesh Chadha - Independent Director

Key Management:

  • Neha Shivran - Chief Data & Analytics Officer (Si Creva)
  • Sandeep Kadam - Chief Technology Officer
  • Shraddha Rajkumar Patangia - Company Secretary and Compliance Officer

Shareholding Pattern (as of September 30, 2026):

  • Promoters & Promoter Group: 26.4%
  • Domestic Institutional Investors: 21.8%
  • Foreign Institutional Investors: 17.8%
  • Public: 34.0%

Forward-Looking Statements

The presentation contains forward-looking statements about the company's anticipated financial and operational performance, business plans, growth strategies, market opportunities, and future developments, subject to various risks and uncertainties.