Sammaan Capital Raises Pre-Tax Profit 30% to 425 Crore in Second Quarter
Key Facts
Sammaan Capital's board approved the unaudited results for the second quarter and first half of fiscal 2027, ended September 30, on November 14, 2026. Pre-tax profit was 425 crore rupees for the quarter, up 30% from 326 crore in the first quarter. The results came as the company reported improved asset quality metrics alongside an increase in assets under management from the end of the previous quarter. Chief Executive Gagan Banga said the company had achieved "sustained momentum in disbursements and profitability, with further improvement in our asset quality." The quarterly figures reflect sequential progress in the operating and profitability metrics reported by the company, while the pre-tax profit comparison is between two consecutive quarters.
Assets under management stood at 59,188 crore rupees on September 30, compared with 56,239 crore at the end of the first quarter of fiscal 2027. The gross non-performing loan ratio improved to 0.15% from 0.21%, while net non-performing loans fell to 0.11% from 0.15%. The company said cumulative collection efficiency stood at 99.6%. Gross provisions represented 10.2% of the loan book. These indicators put the size of the company's portfolio, collection quality and provisions in the context of its expansion during the quarter, without in themselves constituting a forecast for future results.
For fiscal 2027, the company is targeting assets under management of 70,700 crore rupees, a loan book of 53,000 crore, disbursements of 30,100 crore and profit after tax of 1,400 crore. It also announced plans for a pilot launch of gold loans in the third quarter of the fiscal year, followed by a commercial launch in the fourth quarter, subject to market conditions. These figures and plans are stated targets for the fiscal year, not results already achieved. This conversion is a development subsequent to quarter-end and therefore is not included in the reported net worth as of September 30.
The company said conversion of the remaining 21.98 crore warrants is proposed by September 2027, subject to applicable terms and conditions, against an additional investment of 2,291 crore rupees. A strategic announcement in May cited a total investment of $1 billion, or 8,850 crore rupees, from IHC, comprising an initial tranche of 5,652 crore and a balance of 3,198 crore expected over 18 months upon conversion of the warrants. In its August presentation of first-quarter results, the company reported assets under management of 56,239 crore rupees, disbursements of 3,875 crore and profit after tax of 243 crore. Its May strategic plan also included fiscal 2027 targets of more than 70,000 crore in assets under management and 30,000 crore in annual disbursements, with a targeted network of about 270 branches, compared with 217 branches at the time. In the same announcement, the company said CRISIL, CARE and ICRA had upgraded its long-term rating to AA+/Stable following the IHC investment.