Sammaan Capital Limited has informed the Exchange regarding Outcome of Board Meeting held on May 16, 2025.
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Awaiting price reaction for this filing.
Sammaan Capital (formerly Indiabulls Housing Finance) reported audited consolidated results for FY25 with total income of Rs. 8,683.25 crores, up marginally from Rs. 8,624.77 crores last year. The company swung to a consolidated net loss of Rs. 1,807.46 crores for the year, compared to a profit of Rs. 1,214.39 crores in FY24, driven primarily by a massive jump in impairment on financial instruments to Rs. 5,068.50 crores (from Rs. 768.44 crores). Q4 alone was profitable with a PAT of Rs. 324.04 crores. Joint statutory auditors (Nangia & Co LLP and M Verma & Associates) issued an unmodified (clean) opinion on the results. The loan book shrank to Rs. 44,914.85 crores from Rs. 52,748.86 crores, while borrowings were brought down significantly.
The full-year loss — the first in recent memory — is a major negative for shareholders and likely to pressure the stock, as it stems from sharply higher loan-loss provisions. However, the Q4 profitability, clean audit opinion, and strong operating cash flow of Rs. 8,771.63 crores suggest the worst provisioning may be behind the company, and the deliberate shrinkage of the loan book and reduction in borrowings point to a cleanup phase.