Please find enclosed Outcome of Board meeting held today i.e. on May 20, 2026.
SAMMAANCAP · price
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Sammaan Capital (formerly Indiabulls Housing Finance) reported a consolidated net loss of Rs 7,144.56 crore for FY26, heavily impacted by exceptional items. The company recorded an exceptional loss of Rs 6,499.17 crore related to sale of non-core loan exposures to an Asset Reconstruction Company (ARC) and change in business model for Rs 14,953 crore of identified exposures. Additionally, the company recognized Rs 1,850 crore as Management Overlay provision for credit risk amid macroeconomic uncertainties. Revenue from operations declined to Rs 8,190 crore from Rs 8,683 crore in FY25. The company has achieved Zero NPA status through write-offs. On a positive note, International Holding Company PJSC (Abu Dhabi) became the promoter following Rs 8,850 crore investment, and multiple credit rating agencies upgraded the company's ratings (Moody's to B1, CRISIL and CARE to AA+/Stable). The Board also authorized raising up to Rs 10,000 crore through various debt instruments.
While the company reported massive losses due to one-time exceptional items and provisioning, the strong promoter backing from IHC (Abu Dhabi), multiple credit rating upgrades, and zero NPA achievement signal improving fundamentals. The large loss figure is largely due to accounting treatment of legacy assets being resolved, which could be viewed positively for future performance.