Capri Global Capital (531595) Q3 24/25 earnings summary

Executive summary

• Achieved AUM of INR 20,663 crore (Rs206,629mn), up 54.6%-55% year-on-year in Q3 FY25, led by gold loans (up 196%) and housing loans (up 31%).

• Retail AUM constitutes over 80% of the portfolio; co-lending AUM at 17.8%-18% of total AUM.

• PAT reached INR 128 crore (Rs1,281mn), up 88% year-on-year, marking the highest-ever quarterly PAT.

• Expanded branch network to 1,066 and employee base to 11,022, focusing on underserved markets and digital transformation.

• Board approved unaudited financial results and key management changes, including new Chief Compliance Officer and Head of Insurance.

Financial highlights

• Net interest income for Q3 FY25 was INR 347 crore (Rs3,466mn), up 41%-42% year-on-year; nine months FY25 at INR 953 crore, up 30%.

• Non-interest income for nine months FY25 was INR 319 crore, up 20% year-on-year, with car loan distribution, co-lending, and insurance as key contributors.

• Consolidated net profit for Q3 FY25 was INR 128 crore (Rs1,280.84mn); nine months FY25 profit at INR 301 crore (Rs3,007.91mn), up 53%.

• Pre-provisioning operating profit for Q3 FY25 was INR 189 crore (Rs1,891mn), up 46% year-on-year.

• Cost-to-income ratio improved to 58.3% in Q3 FY25 from 64.3% in Q2 FY25 and 70.5% in Q4FY24.

Outlook and guidance

• Confident of achieving INR 30,000 crore AUM by FY27, with growth expected from gold loans, MSME, Micro LAP, construction finance, and affordable housing.

• Targeting mid-teen ROE by FY27, with continued focus on asset quality and credit costs.

• Plans to open 100-200 new branches next year, with further expansion in MSME and Micro LAP segments.

• Board approved raising up to Rs10,000mn via NCDs and up to Rs20,000mn via equity/other instruments.

• Continued focus on operational efficiency and digital expansion to sustain growth.