Sammaan Capital (SAMMAANCAP) Q3 25/26 earnings summary

Executive summary

• Announced and completed the merger of Sammaan Finserve's NBFC business into the parent, consolidating lending and distribution, and enabling expansion into non-lending financial services and fintech, following a preferential allotment to IFC and Avenir Investment RSC Ltd.

• Preferential issue approved by shareholders and CCI; RBI and SEBI approvals pending, with securities to be allotted to IHC post-approval.

• Consolidated revenue for Q3FY26 was ₹2,157.54 crore, with net profit at ₹314.08 crore; nine-month revenue was ₹6,808.50 crore and net profit ₹956.86 crore.

• Significant one-time gain of ₹1,045.66 crore recognized under net gain on derecognition of financial instruments.

• Optimistic about concluding the investment process and transitioning to a full-suite NBFC.

Financial highlights

• Net worth increased to ₹22,423 crore in Q3FY26 from ₹20,331 crore in Q3FY25; total AUM rose to ₹64,200 crore from ₹61,947 crore year-over-year.

• Q3FY26 PAT at ₹314 crore, up from Q3FY25; NIM stable at 5.3%, GNPA at 1.2%, NNPA at 0.7%.

• For 9MFY26, PAT was ₹957 crore, compared to a consolidated loss of ₹2,132 crore in the prior year period.

• Gross NPA ratio at 1.65%, Net NPA at 0.98%, and liquidity coverage ratio at 211% as of December 31, 2025.

• Debt-equity ratio stood at 1.98, with total equity at ₹23,412.46 crore.

Outlook and guidance

• Focus remains on mortgage loans and asset-light strategy, with technology and automation enhancements, including eMortgage for digital loan fulfillment.

• Industry expects retail credit to grow at 14–16% CAGR over FY25–30, with NBFCs projected to outpace banks in MSME lending.

• Co-lending regulations effective January 1, expanding eligible partners and product scope.

• Business volumes expected to recover to original levels by May or June, with 15%-18% OpEx savings anticipated.

• Board approved a scheme of arrangement for demerger of NBFC business from Sammaan Finserve Limited into the company, subject to regulatory approvals.