Sammaan Capital (SAMMAANCAP) Q4 25/26 earnings summary

Executive summary

• IHC Group completed a $1 billion strategic investment, acquiring a 28.5% stake (to rise to 43.5% post-warrant conversion), becoming the new promoter and marking a transformative chapter recognized in India-UAE bilateral ties.

• The transaction closed on March 31, 2026, with significant board and operational integration, including IHC nominee directors and direct engagement with IHC experts.

• The company is leveraging IHC’s global expertise, digital and AI integration, and enhanced governance to drive sustainable growth in India’s financial sector.

• Reported a significant consolidated net loss of Rs. 8,101.41 crore for FY26, driven by a large exceptional item related to strategic portfolio reclassification and sale of non-core assets.

• Credit ratings were upgraded by Moody's, CRISIL, and CARE, reflecting improved governance, market confidence, and capitalisation.

Financial highlights

• FY26 revenue from operations was ₹8,166.16 Cr, with total income at ₹8,190.23 Cr; total assets increased to ₹74,243.42 Cr in FY26 from ₹70,181.05 Cr in FY25.

• Net loss for FY26 was ₹7,144.56 Cr, impacted by high impairment charges and negative profit before tax; exceptional loss of ₹6,499.17 Cr recognized due to reclassification and sale of non-core exposures.

• Opening AUM stands at INR 53,160 crore, with zero gross and net NPA, and provision buffers capturing terminal credit costs.

• Net worth stood at ₹18,991 Cr, with gearing at 2.7x and liquidity coverage ratio at 139%.

• Basic and diluted EPS for FY26 were both (Rs. 91.50).

Outlook and guidance

• Projected AUM to grow from ₹70,700 Cr in FY27 to ₹1,94,000 Cr by FY30, with PAT rising from ₹1,400 Cr to ₹5,600 Cr; ROA expected to improve from 1.8% in FY27 to 8.1% in FY30.

• Cost-to-income ratio targeted to fall from 50% to 26% by FY 2030, with ROA expected to reach 4.4%.

• Expansion plans include scaling to 1,600 branches and 20,000 employees by FY30, with borrower base expanding tenfold.

• Strategic transformation underway to increase retail asset proportion and reduce ALM risks.

• Management expects continued progress on transformation, supported by strengthened capital base and improved credit ratings.