Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 11:45 AM and concluding at 1:40 PM. The board approved the unaudited financial results for the quarter and half year ended September 30, 2026.

Financial Results Overview

Income Statement (₹ in lakhs):

  • Revenue from Operations: Q2 FY27: ₹9,818.63; H1 FY27: ₹19,168.32
  • Interest Income: Q2: ₹9,192.61; H1: ₹17,736.53
  • Fees and Commission Income: Q2: ₹582.10; H1: ₹1,149.49
  • Net Gain/(Loss) on Fair Value Changes: Q2: ₹43.92; H1: ₹282.30
  • Other Income: Q2: ₹30.03; H1: ₹72.63
  • Total Income: Q2: ₹9,848.66; H1: ₹19,240.95

Expenses (₹ in lakhs):

  • Finance Costs: Q2: ₹4,215.71; H1: ₹8,053.43
  • Impairment on financial instruments: Q2: ₹413.09; H1: ₹782.44
  • Employee Benefits Expense: Q2: ₹2,335.42; H1: ₹4,547.20
  • Depreciation & Amortization: Q2: ₹72.04; H1: ₹131.99
  • Other Expenses: Q2: ₹768.79; H1: ₹1,491.33
  • Total Expenses: Q2: ₹7,805.05; H1: ₹15,006.39

Profitability:

  • Profit Before Tax: Q2: ₹2,043.61; H1: ₹4,234.56
  • Tax Expense: Q2: ₹503.05; H1: ₹1,036.74
  • Current Tax: Q2: ₹665.81; H1: ₹1,411.00
  • Deferred Tax: Q2: (₹162.74); H1: (₹374.24)
  • Income Tax for Earlier Year: Q2: (₹0.02); H1: (₹0.02)
  • Profit for Period: Q2: ₹1,540.56; H1: ₹3,197.82
  • Other Comprehensive Income: Q2: (₹12.96); H1: (₹27.14)
  • Total Comprehensive Income: Q2: ₹1,527.60; H1: ₹3,170.68

Earnings Per Share (₹):

  • Basic EPS: Q2: ₹2.94; H1: ₹6.11
  • Diluted EPS: Q2: ₹2.94; H1: ₹6.09

Balance Sheet Position (as of September 30, 2026, ₹ in lakhs)

Assets:

  • Total Assets: ₹216,428.80
  • Financial Assets: ₹213,563.22
  • Cash and Cash Equivalents: ₹6,636.43
  • Bank balance other than cash: ₹8,397.54
  • Receivables: ₹5.42
  • Loans: ₹171,373.28
  • Investments: ₹25,838.71
  • Other Financial Assets: ₹1,311.84
  • Non-Financial Assets: ₹2,865.58

Liabilities and Equity:

  • Total Liabilities: ₹166,572.59
  • Financial Liabilities: ₹165,922.97
  • Debt Securities: ₹14,825.54
  • Borrowings (other than debt securities): ₹149,203.39
  • Subordinated Liabilities: ₹796.59
  • Non-Financial Liabilities: ₹649.61
  • Total Equity: ₹49,856.21
  • Equity Share Capital: ₹2,619.65
  • Other Equity: ₹47,236.56

Cash Flow Statement (H1 FY27, ₹ in lakhs)

  • Cash from Operating Activities: (₹18,570.21)
  • Cash from Investing Activities: (₹10,138.31)
  • Cash from Financing Activities: ₹31,109.31
  • Net Increase in Cash: ₹2,400.79
  • Cash at Beginning: ₹4,235.64
  • Cash at Close: ₹6,636.43

Key Regulatory Disclosures

SEBI Regulation 52(4) Compliance:

  • Debt Equity Ratio: 3.31
  • Net Worth: ₹497,895,000
  • Net Profit After Tax: ₹317,068,000
  • EPS Basic: ₹6.11; Diluted: ₹6.09
  • Total Debts to Total Assets: 76.16%
  • Net Profit Margin: 16.48%
  • Sector Ratios:
  • Gross Stage-3 Assets: 1.75%
  • Net Stage-3 Assets: 0.50%
  • CRAR: 22.95%

NCD Proceeds Utilization (Regulation 52(7) & 52(7A)):

  • No deviation/variation in use of funds raised through NCDs
  • Funds raised through private placement of NCDs totaling ₹100 crore (ISINs: INEQ6WU07098 ₹70 crore, INEQ6WU07080 ₹30 crore)
  • All funds utilized for stated purposes without material deviation

Security Cover Certification (Regulation 54(2) & 54(3)):

  • Outstanding secured NCDs: ₹148.26 crore (including accrued interest and EIR impact)
  • Asset cover maintained at 1.23x against required 1.10x
  • All covenants/terms of NCD issues complied with
  • Security provided by first and exclusive charge on receivables

Other Disclosures:

  • Company categorized as NBFC-Middle Layer under RBI Master Directions 2025
  • No co-lending arrangements during the quarter
  • No transfer/acquisition of loans in default or stressed loans
  • ESOP Scheme 2023: Second tranche of 135,683 stock options vested during the period
  • Allotted 125,203 equity shares (face value ₹5 each) upon exercise of stock options, increasing paid-up capital from ₹2,613.39 lakh to ₹2,619.65 lakh
  • Trading window closure: 48 hours after results declaration

Auditor Review

  • Limited review conducted by S.C. Bapna & Associates, Chartered Accountants
  • Unmodified opinion issued on the financial results
  • Financial results prepared in accordance with Ind AS 34, RBI guidelines, and SEBI regulations