Satin Creditcare Network (SATIN) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 marked the 21st consecutive profitable quarter; standalone PAT was ₹17,161.29 lakh and consolidated PAT ₹17,590.35 lakh, each up 231% YoY.

• H1 FY27 PAT reached ₹29,189.97 lakh standalone and ₹29,854.91 lakh consolidated; standalone H1 PAT neared FY26 full-year PAT of INR 302 crore.

• Growth and improving asset quality supported returns; management prioritized cycle-resilient performance while maintaining the FY30 consolidated AUM target of INR 32,000 crore.

Financial highlights

• Q2 standalone NII was ₹533 crore, up 34% YoY; PPOP was ₹311 crore, up 56%, and PAT was ₹172 crore, up 231%.

• Q2 consolidated NII was ₹594 crore, up 35% YoY; PPOP was ₹267 crore, up 26%, and PAT was ₹176 crore, up 231%.

• H1 standalone NII was ₹998 crore, up 30% YoY, and PPOP was ₹570 crore, up 46%; consolidated PPOP was ₹590 crore, up 43%.

• H1 consolidated PAT was ₹29,854.91 lakh versus ₹9,825.55 lakh; consolidated EPS was ₹27.14 and standalone EPS ₹26.53, not annualized.

• Q2 revenue adjusted for MTM gains and FX movements was ₹816 crore standalone and ₹933 crore consolidated, up 28% and 31% YoY, respectively.

Outlook and guidance

• FY27 consolidated AUM growth guidance remains 20%-25%; management expects to reach the upper band, supported by seasonally stronger H2 disbursements.

• FY27 standalone credit-cost guidance remains 3%-3.5% against H1 of 2.8%; standalone ROA guidance is 3.5%-4% against reported H1 ROA of 4.3%.

• FY30 consolidated AUM target remains INR 32,000 crore, with 30% from non-MFI businesses; non-MFI share reached 20%, versus 15% a year earlier.

• Stable cross-cycle NIM target is ~14.5%; management expects to protect it through repricing and lending-rate adjustments as funding costs change.