Please find enclosed statement of deviation or variation in the utilization of proceeds from the issue of equity shares and NCDs during the quarter ended March 31, 2026, confirming that ....
SAMMAANCAP · price
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Sammaan Capital (formerly Indiabulls Housing Finance) reported a consolidated net loss of Rs 8,101.41 crore for Q4 FY26 and Rs 7,144.56 crore for full year FY26. The massive loss was primarily due to an exceptional item of Rs 6,499.17 crore related to sale of identified non-core exposures worth Rs 14,953 crore to an Asset Reconstruction Company (ARC), along with a Rs 1,850 crore additional ECL management overlay provision. Total revenue from operations declined to Rs 1,357.66 crore in Q4 from Rs 2,107.43 crore in Q4 FY25. The company completed its strategic transition with UAE-based International Holding Company PJSC (IHC) becoming the promoter with Rs 8,850 crore committed investment. Credit ratings were upgraded by Moody's to B1, CRISIL to AA+, and CARE to AA+. The Board also approved authorization to raise up to Rs 10,000 crore through various debt instruments.
The large exceptional losses signal a major cleanup of legacy non-performing exposures, which could be viewed positively for long-term health despite severe near-term losses. The new promoter backing from IHC provides capital support and stability. However, the substantial losses and reduction in loan book size may keep the stock under pressure in the near term until profitability recovers.