Sammaan Capital (SAMMAANCAP) Q1 24/25 earnings summary

Executive summary

• Rebranded as Sammaan Capital Limited after RBI approval, marking 25 years of operations and a shift to NBFC-ICC status.

• Focus remains on retail loan products, especially mortgages and business loans, with a customer-centric approach.

• Net worth as of June 2024: INR 20,269 crore, with capital adequacy at 34.21%.

• Profit after tax for Q1 FY25: INR 327 crore, up from INR 296 crore in Q1 FY24.

• Rights issue to raise INR 2,462 crore, with full payment due by August 22, 2024.

Financial highlights

• Net interest income for Q1 FY25: INR 927 crore, up from INR 562 crore in Q1 FY24.

• Total loan assets at INR 66,566 crore in Q1 FY25, up from INR 65,787 crore YoY.

• Gearing at 1.9x, with a target range of 2-2.5x.

• Return on assets for Q1 FY25: 1.8%, up from 1.7% in Q1 FY24.

• Profit before tax for Q1 FY25: INR 437 crore, up from INR 396 crore YoY.

Outlook and guidance

• Targeting single-digit % of legacy AUM by FY27, with a quarterly collection target of INR 3,000 crore.

• Retail AUM target of INR 1 trillion by FY27, with quarterly disbursements ramping up to INR 5,000 crore by Q4 FY25.

• Aiming for mid-teen to 18% ROE and incremental retail RoA at 3.2% by FY27.

• New corporate structure and fee-based business plans to be unveiled with Q2 FY25 results.

• Average monthly retail disbursal at INR 1,050 crore in Q1 FY25.