Q2FY27 earnings call transcript: AUM ₹74,008 crore, PAT ₹375 crore, GNPA 1.2%
Transcript of the Q2FY27 earnings conference call held on October 09, 2026 shared with the exchanges.
By ScoutQuest · · 3 min read
- AUM
- ₹74,008 crore
- Profit after tax
- ₹375 crore
- GNPA
- 1.2%
Transcript of the Q2FY27 earnings call shared
The company has shared the transcript of its analysts (earnings) conference call held on October 09, 2026, to discuss the unaudited financial results for the quarter and half year ended September 30, 2026. The call was addressed by Managing Director and CEO Arvind Kapil, Executive Director Sunil Samdani, Chief Credit and Analytics Officer Shriram Iyer, Chief Financial Officer Sanjay Miranka and Head of Artificial Intelligence and CHRO Harsh Kumar.
The headline numbers
- Assets under management stood at ₹74,008 crore at the end of Q2FY27.
- Profit after tax for the quarter was ₹375 crore.
- Return on assets moved up to 2.18%.
- Gross NPA was 1.2% for Q2FY27.
- Credit cost came down to 2.19%.
- Portfolio yield was 14.08%.
- NIM plus fees was 9.26%.
How management described the quarter
Mr. Kapil called it an inflection point in building a self-sustaining earnings engine, through structural improvements across four dimensions — disciplined AUM expansion, NIM and fee income optimisation, better credit quality supported by a stronger collection set-up, and a lift in return on assets helped by a maturing AI and digital platform.
What moved in the quarter
- Margins and scale together: management said top-line expansion is not coming at the cost of profitability — margins expanded alongside balance sheet growth, credit cost fell and return on assets improved in the same quarter.
- Asset quality: the portfolio is described as seasoning well, with broad-based improvement across Stage 1, Stage 2 and Stage 3 assets during the quarter, helped by credit calibration and collections.
- Early indicator: management tracks the early delinquency of its most recent disbursement cohort, excluding gold loans, as a lead indicator, and said it is lower than the previous quarter — which it said keeps a downward bias on credit cost.
- Costs: the quarter's operating expense movement is described as within the range management had guided for, even after it front-loaded spending on collections, AI and new gold loan branches.
Product-wise highlights from the call
- Prime personal loans: the digital prime personal loan product now makes up a larger share of personal loan disbursements than in the previous quarter, which management said gives operating leverage; average monthly disbursements grew over the previous quarter on a growing book.
- Gold loans: quarterly disbursements grew over the previous quarter, driven by a combination of new branch additions and maturing of existing branches, and the gold loan branch network expanded during the quarter.
- Commercial vehicles: average monthly disbursements continued despite uncertainty in global fuel prices, with the channel partner network and the geographical footprint both widened across states.
- Education loans: average monthly disbursements grew; the consultant network was expanded and a large share of sanctions is now processed fully digitally through the instant sanction platform.
- Consumer durables: the dealer network and the number of locations scaled up, quarterly disbursements increased over the previous quarter, and cross-sell to earlier customer cohorts is beginning.
Guidance given on the call
- Management said it remains on track to add approximately 200 new branches in the gold loan business in this financial year.
- On costs, it said the quarter's operating expense movement sits within the guidance range it had set earlier.
What investors may take away
The update is the transcript of the earnings call, not a fresh set of financial results. It sets out management's commentary on growth, margins, asset quality and cost, along with the branch expansion plan for the current financial year. The company also noted on the call that the discussion may contain forward-looking statements based on expectations and assumptions, and that actual results may differ.
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More numbers
- Assets under management at end of Q2FY27₹74,008 crore
- Profit after tax for the quarter₹375 crore
- Portfolio yield14.08%
- NIM plus fees9.26%
- Credit cost for the quarter2.19%
- Gross NPA (Stage 3) for Q2FY271.2%
- Return on assets2.18%
- Gold loan branches planned to be added in FYapproximately 200 new branches
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