Satin Creditcare Network Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Satin Creditcare Network Ltd filed with BSE on 03 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Satin Creditcare reported its 20th consecutive profitable quarter with consolidated AUM of Rs 15,935 crores, up 27% year-on-year, and consolidated profit after tax of Rs 123 crores, up 172% year-on-year. Management said the reported credit cost of 3.06% and ROA of 3.55% included a Rs 36 crores management overlay built as a buffer against monsoon and Assam flood-related uncertainty, with adjusted ROA at 4.34%. The company gave FY27 guidance of 20-25% consolidated AUM growth, credit cost of 3-3.5%, and reported ROA of 3.5-4%, and said it would review guidance at the half year after seeing how the monsoon plays out.
Numbers mentioned
Consolidated AUM: INR15,935 crores (Q1 FY27)
p. 4
“Consolidated AUM reached INR15,935 crores, growing 27% year-on-year and 5% sequentially.”
H.P. Singh, page 4 of the filed PDF · View the filing
Stand-alone AUM: INR13,312 crores (Q1 FY27)
p. 4
“Stand-alone AUM stood at INR13,312 crores, up 22% year-on-year.”
H.P. Singh, page 4 of the filed PDF · View the filing
Consolidated profit after tax: INR123 crores, up 172% year-on-year (Q1 FY27)
p. 4
“Consolidated profit after tax was INR123 crores, up 172% year fon-year and stand-alone profit after tax was INR120 crores, up 182% year-on-year.”
H.P. Singh, page 4 of the filed PDF · View the filing
Stand-alone NIM: 14.36% (Q1 FY27)
p. 4
“On margins and efficiency, stand-alone NIM improved to 14.36% from 13.16% on gross yield of 22.44% against a cost of funds of 8.08%.”
H.P. Singh, page 4 of the filed PDF · View the filing
Cost to income ratio: 44.49% (Q1 FY27)
p. 4
“Cost to income improved to 44.49% from 48.91% year-on-year.”
H.P. Singh, page 4 of the filed PDF · View the filing
Stand-alone return on assets: 3.55% (Q1 FY27)
p. 4
“Stand-alone return on assets was 3.55% and return on equity was 15.10%.”
H.P. Singh, page 4 of the filed PDF · View the filing
Stand-alone GNPA: 2.2% (Q1 FY27)
p. 4
“Stand-alone GNPA improved to 2.2% from 3.7% a year ago and 3.1% in March -- sorry, and 3.1% in March.”
H.P. Singh, page 4 of the filed PDF · View the filing
Net NPA: 0.3% (Q1 FY27)
p. 4
“Net NPA stands at 0.3%, down from 0.9% a year ago.”
H.P. Singh, page 4 of the filed PDF · View the filing
Reported credit cost: 3.06% (Q1 FY27)
p. 4
“Our reported credit cost for the quarter was 3.06%, an improvement of over 175 basis points year-on-year and within our guided range of 3% to 3.5%.”
H.P. Singh, page 4 of the filed PDF · View the filing
Credit cost excluding overlay: 1.97% (Q1 FY27)
p. 4
“Excluding the overlay, our credit cost for the quarter was 1.97%.”
H.P. Singh, page 4 of the filed PDF · View the filing
Adjusted ROA: 4.34% (Q1 FY27)
p. 5
“Adjusted for it, ROA for the quarter was 4.34% and ROE 18.46%.”
H.P. Singh, page 5 of the filed PDF · View the filing
Non-MFI portfolio share of consolidated AUM: 19% (Q1 FY27)
p. 5
“On diversification, non-MFI portfolio now stands at 99 -- sorry, 19% of consolidated AUM against 14% a year ago and a target of 30% by 2030.”
H.P. Singh, page 5 of the filed PDF · View the filing
Satin Finserv AUM: INR1,360 crores, up 134% year-on-year (Q1 FY27)
p. 5
“Satin Finserv was a standout with AUM of INR1,360 crores, up 134% year-on-year and 29% sequentially across 121 branches in 14 states.”
H.P. Singh, page 5 of the filed PDF · View the filing
Capital adequacy ratio: 26.74% (Q1 FY27)
p. 6
“We raised approximately INR3,000 crores during the quarter through diversified instruments, including INR285 crores of subordinated debt, which took our subordinated liabilities to INR497 crores and supported a capital adequacy ratio of 26.74%, up from 25.39% in March.”
H.P. Singh, page 6 of the filed PDF · View the filing
Assam portfolio affected by floods: INR149.83 crores outstanding, INR96.95 crores covered by nat cat insurance (Q1 FY27)
p. 5
“Around 44,000 borrowers representing a portfolio outstanding of about INR149.83 crores have been affected, of which INR96.95 crores is covered under nat cat insurance.”
H.P. Singh, page 5 of the filed PDF · View the filing
Gross slippages: INR49 crores (Q1 FY27)
p. 10
“The slippages were INR49 crores for the quarter. Write-off was INR127 crores.”
Aditi Singh, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Consolidated AUM growth — 20% to 25%, implying INR18,200 crores to INR18,900 crores · FY27
stated firmly by H.P. Singh
p. 6
“Guidance for FY27. Our guidance for FY27 is consolidated AUM growth of 20% to 25%, implying INR18,200 crores to INR18,900 crores by March '27.”
H.P. Singh, page 6 of the filed PDF · View the filing
Stand-alone credit cost — 3% to 3.5% · FY27
stated firmly by H.P. Singh
p. 6
“Stand-alone credit cost of 3% to 3.5% on a reported basis.”
H.P. Singh, page 6 of the filed PDF · View the filing
Stand-alone return on assets — 3.5% to 4% · FY27
stated firmly by H.P. Singh
p. 6
“And stand-alone return on assets of 3.5% to 4%, again on a reported basis.”
H.P. Singh, page 6 of the filed PDF · View the filing
Guidance review — half year FY27
stated conditionally by H.P. Singh
p. 7
“We will review guidance at the half year once we have seen how the monsoon plays out.”
H.P. Singh, page 7 of the filed PDF · View the filing
Consolidated AUM — INR32,000 crores with 30% from non-microfinance business · by 2030
stated as an aspiration by H.P. Singh
p. 7
“Our long-term target of INR32,000 crores of consolidated AUM by 2030 with 30% from non fmicrofinance business is unchanged.”
H.P. Singh, page 7 of the filed PDF · View the filing
Non-MFI portfolio mix — 30% by 2030 · by 2030
stated as an aspiration by H.P. Singh
p. 5
“non-MFI portfolio now stands at 99 -- sorry, 19% of consolidated AUM against 14% a year ago and a target of 30% by 2030.”
H.P. Singh, page 5 of the filed PDF · View the filing
Consolidated AUM growth FY28 — 20% to 25% · FY28
stated as an aspiration by H.P. Singh
p. 12
“But I think what we are looking at as a stable state of 20% to 25% is what we are trying to look at across '28 also. But it's not a guidance.”
H.P. Singh, page 12 of the filed PDF · View the filing
Consolidated ROA — coming quarters
stated firmly by H.P. Singh
p. 10
“It will, Shah, it will increase.”
H.P. Singh, page 10 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the buffer size is not committed to a fixed number and will depend on how macroeconomics and field-level factors evolve.
Answered by H.P. Singh
Asked by Deepak Poddar: What is the extent of the management overlay buffer being built annually or quarterly?
p. 8
“we are not actually committing a number to it. It will all depend on how the macroeconomics as well as the field level things pan out to be.”
H.P. Singh, page 8 of the filed PDF · View the filing
Yes, management confirmed the guided ROA range is on a reported basis inclusive of any overlay.
Answered by H.P. Singh
Asked by Deepak Poddar: Does the ROA guidance of 3.5% to 4% include the management overlay?
p. 8
“Absolutely. Absolutely. Absolutely. Because that's why we said, if you exclude that, we are standing at an ROA of about 4.28%.”
H.P. Singh, page 8 of the filed PDF · View the filing
Management said the infusion is meant to support faster growth in the subsidiaries rather than the standalone business, which can grow on internal accruals.
Answered by H.P. Singh
Asked by Deepak Poddar: What is the rationale for the promoter equity infusion of Rs 100 crores?
p. 8
“But the subsidiaries do require some momentum in terms of capital, and that's the reason why we wanted to infuse some amount of capital to probably look at that.”
H.P. Singh, page 8 of the filed PDF · View the filing
Management said DA is maintained at 20-22% of AUM on a yearly basis, with the fourth quarter typically heavier.
Answered by H.P. Singh
Asked by Saumil Shah: What is the sustainable level of DA income going forward?
p. 10
“overall, we maintain close to about 20% -- the range is between 20% to 22% is where we maintain our DA book on the total consolidated AUM.”
H.P. Singh, page 10 of the filed PDF · View the filing
Management said about 5% of the Assam portfolio was affected, with roughly 1% net exposure after insurance coverage.
Answered by H.P. Singh
Asked by Saumil Shah: What percentage of the Assam portfolio was affected by floods?
p. 10
“It's about 5%.”
H.P. Singh, page 10 of the filed PDF · View the filing
Management said it deliberately keeps guidance conservative to be able to overachieve, while targeting 20-25% growth.
Answered by H.P. Singh
Asked by Giriraj Daga: Is the company being conservative with its growth guidance given the favorable industry environment?
p. 12
“We are conservative every time. And you can see it from other things. So we've been able to do 27% and I didn't want to state that, that we give again 25% to 30%.”
H.P. Singh, page 12 of the filed PDF · View the filing
Management explained that ECB exposure is fully hedged and the net impact for the quarter was a negative Rs 3 crores due to accounting timing differences between MTM gains and exchange fluctuations.
Answered by Jugal Kataria
Asked by Vinay: What explains the sharp reversal in the forex component of interest expense this quarter?
p. 14
“So the total impact for this quarter is a negative of INR3 crores, while you can see huge numbers both in servicing income because all the transactions are fully hedged, the corresponding impact is there in the finance cost.”
Jugal Kataria, page 14 of the filed PDF · View the filing
Management explained that even as slippages nearly halved and GNPA fell, the increased management overlay pushed up the overall credit cost figure.
Answered by Aditi Singh
Asked by Vinay: Why have credit costs risen even as asset quality metrics have improved?
p. 15
“Now if you add all of this, while incrementally my portfolio is behaving much better, the credit cost will increase because the GNPA got reduced by 90 bps, the buffer got increased, while my slippages were drastically reduced to half.”
Aditi Singh, page 15 of the filed PDF · View the filing
Risks flagged
Revised monsoon outlook creating uncertainty for rural cash flows
p. 4
“The revised monsoon outlook warrants caution on rural cash flows over the next 2 to 3 months.”
H.P. Singh, page 4 of the filed PDF · View the filing
Assam floods affecting borrowers in three districts
p. 5
“For instance, Assam, one of our key states, where portfolio exposure is currently experiencing severe floods, while 3 districts, Jorhat, Sivasagar, and Charaideo have been impacted.”
H.P. Singh, page 5 of the filed PDF · View the filing
Surplus liquidity creating negative carry on the balance sheet
p. 9
“But we are cognizant to the fact that it does affect our negative carry to a slight extent.”
H.P. Singh, page 9 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.