Financial Performance
OnEMI Technology Solutions Limited, the listed parent of the digital lending platform Kissht (BSE: 544754 / NSE: KISSHT), announced unaudited consolidated and standalone results for the quarter and half‑year ended 30 September 2026. Assets under management (AUM) reached ₹9,317 crore, representing a 68% increase year‑on‑year (YoY) and a 16% rise quarter‑on‑quarter (QoQ). Profit after tax (PAT) doubled to ₹125 crore, up 100% YoY and 32% from the previous quarter. Return on average AUM (RoAAUM) was 5.78% and return on average equity (RoAE) 21.65% on an annualised basis. Diluted earnings per share rose 51% to ₹7.1 from ₹4.7 in the same quarter last year. The cumulative customer base crossed 12.80 million, a 22% YoY increase.
Portfolio Composition
The loan portfolio remained heavily weighted toward unsecured personal loans, which amounted to ₹8,580 crore or 92.1% of total AUM. Loan‑against‑property (secured) stood at ₹737 crore, representing 7.9% of AUM, delivered through 107 branches across nine states and union territories. Origination continued to be partnership‑led, with off‑book AUM of ₹5,118 crore (54.9% of total) spread across more than eight partners and supported by over 45 active lending and co‑lending partners.
Asset Quality and Collections
Gross non‑performing assets (Stage 3) declined to 2.18%, an improvement of 75 basis points YoY and 7 basis points QoQ. Net NPA was 0.34%, down 2 basis points from the prior quarter and well below the 0.50% threshold. Stage 3 provision coverage stood at 84.55%, while expected credit loss (ECL) coverage on Stage 2 assets rose to 77.6% from 59.6% a year earlier. Collection efficiency for loans past due 30 days (DPD‑30) was 97.12%.
Capital Structure and Ratings
Net worth expanded 103% YoY to ₹2,377 crore, more than four times the level as of March 2023, driven by retained earnings, organic profitability and the initial public offering in May 2026. Capital adequacy ratio (CRAR) was 34.8% with Tier‑1 ratio at 33.7%. The debt‑to‑equity ratio stood at 0.94× and diluted book value per share was ₹130.7 as of September 2026. Credit rating agencies assigned A‑/Stable from CRISIL and India Ratings, while Acuite upgraded its rating to A/Stable from A‑/Stable during the quarter.
Funding and Outlook
After the quarter‑end, the company raised ₹832.2 crore through a preferential issue, having obtained in‑principle approval from BSE and NSE on 19 October 2026. Looking ahead to FY27, Kissht projects AUM growth of more than 60% year‑on‑year and a decline in credit cost of over 15% YoY. The firm continues to guide for gross NPA below 2.25% and expects RoAE of 20% or higher.
Business Overview
Kissht, founded in 2016 and headquartered in Mumbai, operates via its NBFC‑Middle Layer subsidiary Si Creva Capital Services Private Limited. It offers personal loans and loan‑against‑property to salaried and self‑employed customers, leveraging a proprietary AI/ML underwriting framework built on over 7,200 variables and supported by more than 45 lending and co‑lending partners. The company listed on NSE and BSE on 8 May 2026.
Management Commentary
Ranvir Singh, Founder and CEO of Kissht, stated that Q2FY27 was a quarter of strong growth, healthy returns and continued execution against strategic priorities, emphasizing sustainable growth, credit quality, and profitable long‑term returns.