Capri Global Capital (531595) Q1 25/26 earnings summary

Executive summary

• Completed a landmark INR 2,000 crore (₹20 bn) Qualified Institutional Placement, strengthening the balance sheet and enabling business expansion and technology investment.

• Achieved 42% year-on-year AUM growth to INR 24,754 crore (₹247,538 mn), with robust gains in gold loans, housing, MSME, and construction finance.

• Net interest income rose 38% YoY to INR 416 crore (₹4,156 mn), non-interest income up 53% to INR 166 crore (₹1,661 mn), and PAT surged 131% YoY to INR 175 crore (₹1,749 mn).

• Cost-to-income ratio improved to 46.5%-49%, reflecting strong operating leverage and cost control.

• Maintained a diversified and granular loan portfolio, with strong momentum in gold loans, housing finance, MSME, and construction finance.

Financial highlights

• Consolidated AUM reached INR 24,754 crore (₹247,538 mn) as of June 30, 2025, up 42% YoY.

• Net interest margin stood at 8.9%; total income grew 42% YoY to ₹5,817 mn.

• Pre-provision operating profit surged 115% YoY to INR 312 crore (₹3,115 mn); profit after tax rose 131% to INR 175 crore (₹1,749 mn).

• Cost-to-income ratio improved to 46.5%-49% (adjusted for one-time benefit), down from 64.6%-65% YoY.

• Capital adequacy ratio increased to 34%-34.5% following equity infusion.

Outlook and guidance

• Targeting 30% annual AUM growth for FY26 and the next three years, aiming for INR 50,000 crore (₹500 bn) AUM by FY28.

• ROE expected at 13.5%-14% for FY26, improving to 16%-18% by FY27-FY28; ROA to rise from 3.5% to 4.5%.

• Cost-to-income ratio projected to remain around 50% due to branch expansion, with further improvement expected as scale increases.

• Credit cost guidance at 70 basis points for the year.

• Co-lending AUM to be maintained in the 18%-20% range.