Key Financial Performance - Standalone (H1FY27)

  • Profit After Tax (PAT): ₹292 Crores, representing 209% growth YoY (H1FY26: ₹94 Crores)
  • Return on Assets (ROA): 4.3%, increased by 262 basis points YoY
  • Return on Equity (ROE): 17.8%, increased by 1,122 basis points YoY
  • Assets Under Management (AUM): ₹13,608 Crores, 23% growth YoY
  • Disbursements: ₹6,109 Crores, 36% growth YoY
  • Gross NPA (PAR 90): 1.9% at ₹197 Crores
  • Credit Cost: 2.8%, reduced by 202 basis points YoY
  • X Bucket Collection Efficiency: 99.8%

Key Financial Performance - Consolidated (H1FY27)

  • PAT: ₹299 Crores, 204% growth YoY
  • ROA: 3.9%, up 233 basis points YoY
  • ROE: 19.8%, up 1,214 basis points YoY
  • AUM: ₹16,589 Crores, 31% growth YoY
  • Disbursement: ₹7,192 Crores, 48% growth YoY

Q2FY27 Standalone Performance

  • PAT: ₹172 Crores, 231% growth YoY
  • ROA: 4.9%, up 314 basis points YoY
  • ROE: 20.6%, up 1,339 basis points YoY
  • Disbursement: ₹3,101 Crores, 28% growth YoY
  • Credit Cost: 2.47%, reduced by 236 basis points YoY

Q2FY27 Consolidated Performance

  • PAT: ₹176 Crores, 231% growth YoY
  • ROA: 4.5%, up 282 basis points YoY
  • ROE: 22.8%, up 1,462 basis points YoY
  • Disbursement: ₹3,697 Crores, 41% growth YoY

Management Overlay

  • The company maintained a management overlay of ₹50 Crores created as a buffer for future stress
  • Excluding this overlay, standalone credit cost stood at 2.0% for H1FY27 and 0.99% for Q2FY27
  • ROA excluding overlay stood at 4.8% (H1) and 6.0% (Q2)
  • ROE excluding overlay stood at 20.1% (H1) and 25.0% (Q2)

Funding and Liquidity

  • Raised approximately ₹5,630 Crores in H1FY27 via diversified debt instruments
  • Raised approximately ₹2,630 Crores in Q2FY27
  • Marginal borrowing cost reduced by 65 basis points YoY to 10.28% in Q2FY27
  • Undrawn sanctions: ~₹4,600 Crores
  • Liquidity as of September 30, 2026: ₹2,235 Crores
  • Debt stood at ₹10,033 Crores, registering 38% growth over FY24

Promoter Commitment

  • Promoters committed ₹100 Crores through warrants
  • First tranche of ₹25 Crores already received by the company

Asset Quality Details

  • Stage 3 coverage ratio: 91% as of September 30, 2026 (vs 85% as of June 30, 2026)
  • Stage 2 coverage ratio: 62% as of September 30, 2026 (vs 21% as of June 30, 2026)
  • ECL as of September 30, 2026: ₹181 Crores
  • Recovery against write-offs: ₹16 Crores during H1FY27
  • On-book provisions: ₹263 Crores (2.6% of on-book portfolio)
  • Provision required as per RBI: ₹152 Crores
  • Overall Provision Coverage Ratio: 133%

Business Diversification

The company is evolving into a diversified business group with multiple subsidiaries:

Satin Housing Finance Ltd (WOS)

  • Since February 2018
  • AUM: ₹1,219 Crores
  • Net Worth: ₹370 Crores
  • 59 branches
  • GNPA: 3.3%
  • CRAR: 57.7%

Satin Finserv Ltd (WOS)

  • Since March 2019
  • AUM: ₹1,761 Crores
  • Net Worth: ₹460 Crores
  • 140 branches
  • GNPA: 3.1%
  • CRAR: 26.9%

Satin Technologies Ltd (WOS)

  • Since August 2024
  • Net Worth: ₹20 Crores
  • Holds 68% stake in QTrino, a deep tech cybersecurity company

Satin Growth Alternatives Ltd. (WOS)

  • Since August 2025
  • SEBI Category II AIF for inclusion, sustainability and impact
  • Achieved first close in 4.5 months and made its first investment
  • Scheme I: ₹200 Crores

Portfolio Composition

  • Consolidated AUM: ₹16,589 Crores
  • MFI Lending: ₹13,257 Crores (80%)
  • MSME: ₹2,113 Crores (13%)
  • Housing Finance: ₹1,219 Crores (7%)
  • Business Correspondence: ₹26 Crores
  • Standalone AUM: ₹13,608 Crores
  • On-book portfolio: ₹10,157 Crores
  • Off-book portfolio: ₹3,451 Crores
  • Includes additional MSME portfolio of ₹378 Crores beyond MFI portfolio

Operational Metrics

  • Total branches: 2,075 (21% growth YoY)
  • SCNL: 1,876 branches
  • SHFL: 59 branches
  • SFL: 140 branches
  • Geographic presence: 608 districts across 32 states and UTs
  • Number of centers: 4.1 lakhs
  • Number of villages: 1.14 lakhs
  • Client base: ~34 lakh clients
  • Employees: 47% larger workforce since FY24
  • Lender base: 69 active lenders

FY27 Guidance vs Achievement

| Metrics | FY27 Guidance | Achievement till Sept 30, 2026 | Read-through |

| Consolidated AUM Growth | 20-25% | 19% (annualized) | Approaching |

| Standalone Credit Cost | 3.0-3.5% | 2.8% | Ahead |

| Standalone ROA | 3.5-4.0% | 4.3% | Ahead |

Long-term Target

  • Consolidated AUM targeted to reach ₹32,000 Crores by FY2030
  • 52% of the target achieved as of current reporting

ESG Initiatives

  • S&P Global CSA Score: 59 (first attempt assessment)
  • ~19.4 lakh customers covered under NatCat coverage (~78% of book)
  • CSR commitment: ₹7.97 Crores for FY27
  • 67% independent Board (4 of 6 directors)
  • ISO 27001:2022 certification for information security management

Capital Market Information

  • Face Value: ₹10
  • Market Price: ₹232
  • 52 Week H/L: ₹274/136
  • Market Cap: ₹2,565 Crores
  • Equity Shares Outstanding: 11 Crores
  • Book Value per share: ₹287
  • Number of Equity Shareholders: 34,289