Satin Creditcare Network (SATIN) Q2 25/26 earnings summary

Executive summary

• Achieved 17 consecutive quarters of profitability, with Q2 FY26 marking continued strong performance and robust asset quality.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with a clean review report from auditors.

• Strategic expansion into Mizoram and addition of 162 new branches in H1 FY26, reinforcing presence in Northeast India.

• Board strengthened with two new independent directors, enhancing governance.

• Group includes four wholly owned subsidiaries, with new investments and a new subsidiary incorporated during the quarter.

Financial highlights

• Consolidated AUM reached INR 12,687 Crores, up 8% year-over-year; disbursements at INR 4,868 Crores, up 3% YoY.

• Consolidated revenue from operations for H1 FY26 was ₹1,49,646.87 lakhs, up from ₹1,28,955.95 lakhs in H1 FY25.

• Consolidated PAT for H1 FY26 stood at INR 98 Crores, down 34.5% YoY; PPOP at INR 413 Crores.

• Gross yield increased to 25.18% in Q2 FY26; NIM at 14.25%.

• Cost of borrowing rose to 10.94% in Q2 FY26, attributed to forex rate changes, but forex borrowings are fully hedged.

Outlook and guidance

• Targeting credit cost lower than FY25 levels (4.6%), with continued focus on asset quality and prudent lending.

• Management highlights strong asset cover for non-convertible debentures and continued focus on financing activities.

• New investments and subsidiary incorporation signal ongoing expansion and diversification.