Capri Global Capital (531595) Q4 24/25 earnings summary

Executive summary

• Delivered record financial performance in FY2025, with consolidated revenue up 40.2% year-over-year to ₹32,475 million and net profit up 71.3% to ₹4,785 million, driven by robust growth across MSME, affordable housing, gold loans, and construction finance segments.

• Assets under management (AUM) grew 46% year-over-year to ₹228,602 million in Q4FY25, with significant contributions from gold loans (AUM up 130.4%), housing finance (AUM up 23.6%), and construction finance (AUM up 57.7%).

• Non-interest income streams, led by insurance distribution and car loan origination, contributed over 27% of net income, with insurance distribution generating ₹727 million net fee income in FY25.

• Technology and data science adoption enhanced operational efficiency, risk management, and customer experience, with cost-to-income ratio dropping to 54.8% in Q4FY25.

• ESG initiatives recognized with high global sustainability and financial inclusion scores.

Financial highlights

• Consolidated AUM reached ₹228,602 million, up 46% year-over-year; gold loan AUM grew 130.4% to ₹80,422 million; housing finance AUM up 23.6% to ₹52,019 million; construction finance AUM up 57.7% to ₹41,329 million.

• Net interest income for FY25 was ₹13,320 million, up 35% YoY; Q4 FY25 net interest income was ₹3,812 million (+49% YoY).

• Q4 FY25 consolidated net profit was ₹1,777 million (+115% YoY, +39% QoQ); FY25 net profit was ₹4,785 million (+71% YoY).

• Cost-to-income ratio improved to 54.8% in Q4 FY25 from 70.5% in Q4 FY24.

• Capital adequacy ratio at 26.9% for Q4 FY25, with total equity at ₹43,041 million.

Outlook and guidance

• Targeting ₹500 billion AUM by FY28, with 27%-30% CAGR, focusing on gold loans, MSME, Micro LAP, housing, and construction finance.

• Sustainable ROE expected at 16%+ by FY28, with 1.5-2% ROE from fee income.

• Continued branch expansion, especially in southern India and underserved markets, with plans to add over 200 branches in the next fiscal year.

• Ongoing investment in technology, branch expansion, and co-lending partnerships to drive mid-teen ROE and maintain robust asset quality.

• Board approved raising up to ₹10,000 million via NCDs and up to ₹20,000 million via equity/other instruments to support future growth.