Sammaan Capital Limited Earnings Summary — Q4 FY2026
Sammaan Capital Reports Massive Q4 Loss Amidst Strategic Restructuring and Provisioning
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 21.7% sequentially in Q1 FY2027.
- Revenue of ₹1,652 Cr is 31.2% lower year-on-year.
- Revenue has compounded at -12.0% annualised over the last 10 quarters.
- Net profit of ₹243 Cr is 27.2% below the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at -14.4% annualised across the period.
- Operating margin stands at 99.9% in Q1 FY2027.
- Operating margin expanded by 3008 bps year-on-year.
- Over the last two years operating margin has expanded by 2126 bps.
- PBT margin is 19.7%.
- Expense growth of -99.8% remained below revenue growth of -31.2%.
- Operating profit of ₹1,651 Cr is 1.5% lower year-on-year.
- Operating leverage continues to improve.
- 2 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 59/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 1,652 | 1,358 | 2,158 | 2,251 | 2,400 | 2,107 | 2,017 | 2,422 | 2,207 | 2,205 |
| Expenses | Volatile | 1 | 3,255 | 260 | 528 | 724 | 603 | 389 | 4,852 | 471 | 511 |
| Operating Profit | Volatile | 1,651 | -1,898 | 1,898 | 1,722 | 1,676 | 1,505 | 1,628 | -2,429 | 1,736 | 1,693 |
| Operating Margin | Volatile | 99.9% | -139.8% | 88.0% | 76.5% | 69.8% | 71.4% | 80.7% | -100.3% | 78.7% | 76.8% |
| Other Income | Volatile | 31 | -6,496 | 0 | 10 | 9 | 25 | 3 | 3 | 30 | 50 |
| Interest | Stable | 1,335 | 1,679 | 1,458 | 1,286 | 1,196 | 1,050 | 1,194 | 1,238 | 1,309 | 1,291 |
| Depreciation | Stable | 20 | 25 | 21 | 21 | 21 | 25 | 20 | 20 | 19 | 21 |
| Profit Before Tax | Volatile | 326 | -10,097 | 419 | 425 | 468 | 455 | 417 | -3,685 | 437 | 431 |
| Tax | Volatile | 83 | -1,995 | 105 | 117 | 134 | 131 | 115 | -924 | 110 | 112 |
| Net Profit | Volatile | 243 | -8,101 | 314 | 308 | 334 | 324 | 302 | -2,761 | 327 | 319 |
| Net Margin | Volatile | 14.7% | -596.7% | 14.6% | 13.7% | 13.9% | 15.4% | 15.0% | -114.0% | 14.8% | 14.5% |
Key Takeaways
- Sammaan Capital (formerly Indiabulls Housing Finance) recorded a catastrophic net loss of ₹8,101 Cr in Q4 FY26.
- Quarterly revenue saw a sharp sequential decline of 37%, dropping to ₹1,358 Cr.
- The massive loss was driven by ₹3,255 Cr in expenses and an extraordinary other income loss of ₹6,496 Cr.
- Financing Profit turned deeply negative at -₹3,576 Cr for the quarter compared to ₹440 Cr in Q3.
- Equity capital expanded to ₹229 Cr due to fresh capital infusion, but reserves were depleted by historical losses.
- The company is undergoing a total business reset following a $1 billion investment from IHC Group.
- Asset quality data (NPA) for the latest quarter was not explicitly detailed in the quarterly table.
- Management has rebranded the entity to distance it from legacy promoter issues and aggressive lending histories.
Management Guidance
Management is pivoting toward a 'survival and reset' strategy with a new corporate identity, focusing on rebuilding a sustainable book post-provisioning.
Sentiment Shift
Deteriorating
While the capital infusion from IHC provides a floor, the scale of recent losses and revenue contraction indicates a severe near-term impairment of the business model.
Outlook
The outlook remains highly uncertain as the company moves away from its housing finance roots. While IHC's investment provides liquidity, the ability to generate a profitable loan book under the new Sammaan brand in a competitive landscape is unproven.
From the Annual Report (Key Quotes)
“The business is currently in a 'survival and pivot' phase, moving away from its legacy housing finance roots.”
“Strategic entry of IHC Group via a USD 1 Bn investment marks a total reset of the business model.”
“Historical erosion of book value and high credit costs have severely impaired shareholder returns.”
Official Quarterly Documents
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This summary is AI-generated from Sammaan Capital Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.