Key Financial Figures (₹ Crores, unless otherwise stated)

Revenue from Operations:

  • Interest Income: ₹2,420.63 (Q1 FY27) vs ₹2,493.15 (Q1 FY26)
  • Fees and Commission Income: ₹2,405.54 (Q1 FY27) vs ₹2,191.15 (Q1 FY26)
  • Sale of Services: ₹9.72 (Q1 FY27) vs ₹25.88 (Q1 FY26)
  • Business Development Incentive Income: ₹204.08 (Q1 FY27) vs ₹166.58 (Q1 FY26)
  • Insurance Commission Income: ₹0.58 (Q1 FY27) vs ₹0.05 (Q1 FY26)
  • Total Revenue from Operations: ₹5,040.55 (Q1 FY27) vs ₹4,876.92 (Q1 FY26)

Other Income: ₹164.81 (Q1 FY27) vs ₹158.47 (Q1 FY26)

Total Income: ₹5,205.36 (Q1 FY27) vs ₹5,035.39 (Q1 FY26)

Expenses:

  • Finance Costs: ₹744.53 (Q1 FY27) vs ₹812.82 (Q1 FY26)
  • Fees and Commission Expenses: ₹396.90 (Q1 FY27) vs ₹187.49 (Q1 FY26)
  • Impairment on Financial Instruments: ₹947.68 (Q1 FY27) vs ₹1,351.55 (Q1 FY26)
  • Employee Benefits Expenses: ₹206.77 (Q1 FY27) vs ₹161.42 (Q1 FY26)
  • Depreciation, Amortization and Impairment: ₹30.51 (Q1 FY27) vs ₹35.03 (Q1 FY26)
  • Operating and Other Expenses: ₹1,985.84 (Q1 FY27) vs ₹1,738.72 (Q1 FY26)
  • Total Expenses: ₹4,312.23 (Q1 FY27) vs ₹4,287.03 (Q1 FY26)

Profit Before Tax: ₹893.13 (Q1 FY27) vs ₹748.36 (Q1 FY26)

Tax Expenses:

  • Current Tax Charge: ₹246.49 (Q1 FY27) vs ₹210.35 (Q1 FY26)
  • Deferred Tax Credit: ₹(17.80) (Q1 FY27)
  • Total Tax Expenses: ₹228.69 (Q1 FY27) vs ₹192.40 (Q1 FY26)

Profit After Tax: ₹664.44 (Q1 FY27) vs ₹555.96 (Q1 FY26)

Earnings Per Share (Face value of ₹10 each, not annualized):

  • Basic EPS: ₹6.98 (Q1 FY27) vs ₹5.84 (Q1 FY26)
  • Diluted EPS: ₹6.98 (Q1 FY27) vs ₹5.84 (Q1 FY26)

Capital Structure Impact

During the quarter, the Company allotted 14,257 equity shares of ₹10 each pursuant to exercise of options under the approved employee stock option scheme. The issued, subscribed and paid-up equity capital increased to ₹951.61 Crores as at June 30, 2026 (from ₹951.60 Crores as at March 31, 2026).

Asset Quality and Provisions

  • Gross NPA (Stage 3 balance): 2.04% as of June 30, 2026 (vs 2.41% as of March 31, 2026)
  • Net NPA (Stage 3 balance): 0.83% as of June 30, 2026 (vs 1.04% as of March 31, 2026)
  • Provision for total expected credit loss: ₹1,676.53 Crores as of June 30, 2026 (vs ₹1,641.87 Crores as of March 31, 2026)
  • The impairment allowance under Ind AS 109 exceeds the total provision required under IRACP norms, so no amount is required to be transferred to impairment reserve.

Regulatory Compliance and Accounting Treatments

The financial results were prepared in accordance with Ind AS and RBI guidelines applicable to NBFCs. The Company is categorized as NBFC-Middle Layer but complies with NBFC-Upper Layer requirements as a group entity of State Bank of India.

Key Notes:

1. The Company recognized ₹27 crores under Employee Benefit expenses for past services due to implementation of New Labour Codes (Code on Wages, 2019 and Code on Social Security, 2020).

2. The Company revised its Expected Credit Loss (ECL) model methodology for LGD, CCF, and ECL Discounting, resulting in an estimated increase in impairment provision of ₹180 Crores as of June 30, 2026.

3. Additionally, the Company is carrying ₹70 crores over and above the impairment provision as per the approved ECL model due to uncertain geopolitical situation (reduced from ₹220 Crores as of March 31, 2026).

4. No loans were transferred/acquired during the quarter that were not in default, stressed loans, NPAs, or Special Mention Accounts.

5. The Company has no subsidiaries/associates/joint ventures.

Audit and Review

The financial results were reviewed by the Audit Committee and approved by the Board. The joint statutory auditors (M/s. V.K. Dhingra & Co. and M/s. S.P. Chopra & Co.) issued a limited review report with an emphasis of matter regarding the additional impairment provision of ₹70 crores.

Additional Ratios

  • Net Worth: ₹15,462.68 Crores
  • Capital Adequacy Ratio: 25.64%
  • Provision Coverage Ratio: 59.88%
  • Net Profit Margin: 12.76%
  • Total Debts to Total Assets: Not quantified in disclosure