Submission of Earning Call Transcript
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Emerald Finance's FY26 total income rose to INR31.2 crores with net profit of INR15.15 crores and EPS of INR4.36. Q4 FY26 income was INR9.76 crores (up from INR6.49 crores in Q4 FY25) with net profit of INR4.36 crores. CRISIL upgraded the company's rating from BB+ to BBB-. The EWA (Early Wage Access) business covers 214 corporates with 30,000+ employees; only 15% actively use EWA while cross-sell comes from the balance 85%. Gold loan syndication disbursals were INR375 crores in Q4 via partners like ICICI, HDFC, RBL and Muthoot. Management guided FY27 EPS to cross INR7 (up from 4.36) and expects cost of funds to fall post rating upgrade. Plans to expand into distribution of insurance, small-ticket mutual funds and digital gold/silver products.
Positive near-term outlook with management guiding a meaningful jump in EPS (from 4.36 to ~7) and cost of funds reduction expected after the CRISIL rating upgrade. However, EWA disbursement run-rate has slowed due to a 60% corporate rejection rate and weak macro conditions, which may temper growth despite the optimistic guidance.