Lends primarily to low-income women borrowers through joint-liability groups under its microfinance business, which formed 86.63% of turnover per the FY26 BRSR filing. Operations run through 2,015 branches and 18,265 employees covering 32 states and Union Territories, serving 33.7 lakh clients at a consolidated level. Beyond core microfinance, the group has built adjacent lending subsidiaries: housing finance arm SHFL held ₹1,267 cr AUM (3-year CAGR 36%), and MSME-focused Satin Finserv held ₹1,054 cr AUM (92.5% YoY growth). Consolidated AUM stood at ₹15,174 cr at end of FY26 (up 19% YoY), with standalone microfinance AUM at ₹12,853 cr. Asset quality strengthened during the year—standalone GNPA was 3.1%, X-bucket collection efficiency held at 99.9%, and credit cost improved 77 bps to 3.8% for FY26. The dominant cost is people: employee expenses made up 21.8% of FY26 revenue, reflecting the labour-intensive branch-and-field collection model. Funding comes from NCDs, bank borrowings and USD bonds; cost of borrowing was 10.82% and standalone CRAR was 25.4% at year-end. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Microfinance lending, Housing finance (SHFL subsidiary), MSME / SME lending (SFL subsidiary). Microfinance-led NBFC group diversifying into housing and MSME lending; capital-light balance sheet but labour-intensive operations.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,377 | 1,557 | 2,233 | 2,595 | 3,143 |
| EBITDA (ex other income) | 672 | 639 | 1,499 | 1,304 | 1,756 |
| margin % | 48.8 | 41.0 | 67.1 | 50.3 | 55.9 |
| Owners' profit | 21 | 5 | 436 | 186 | 332 |
| EPS, as reported (₹) | 2.96 | 0.62 | 44.34 | 16.92 | 30.20 |
| ROE % · ROCE % | 1.3 · — | 0.3 · — | 18.2 · — | 7.3 · — | 11.6 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 336 | (956) | (2,069) | (563) | (974) |
| Capex | (6) | (10) | (13) | (20) | (25) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 657 | 684 | 621 | 709 | 788 | 747 | 920 | 762 |
| Profit before tax | 62 | 15 | 18 | 58 | 69 | 93 | 212 | 161 |
| Net profit | 45 | 14 | 22 | 45 | 53 | 72 | 162 | 123 |
| EPS (₹) | 4.06 | 1.30 | 1.99 | 4.10 | 4.83 | 6.54 | 14.73 | 11.15 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CREDITACCESS GRAMEEN LTD | 22,781 | 18.8 | 2.90 | 7.2 | 9.9 | — | 19.7 | 68.8 |
| MUTHOOT MICROFIN LIMITED | 3,275 | 13.3 | 1.15 | — | 6.0 | — | — | 54.5 |
| FUSION FINANCE LIMITED | 3,090 | 18.6 | 1.26 | — | 0.6 | — | — | 46.7 |
| SATIN CREDIT NET LTD ◆ | 2,386 | 5.8 | 0.83 | 0.5 | 11.6 | — | 18.0 | 55.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 26 Aug 2026 · Satin Creditcare to attend Phillip Capital investor meet on Sept 3 in Delhi | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Satin Creditcare to attend Elara Capital investor conference on Sept 2 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Satin Creditcare subsidiary SGAL announces first close of women-led AIF fund | business updates | medium | — | — |
| 7 Aug 2026 · Satin Creditcare 36th AGM: All 4 Resolutions Passed, Including NCD Issuance | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · 36th AGM held; NCD issuance and CMD pay revision proposed | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Satin Creditcare appoints Paramjit Nayyar as CHRO | management changes | medium | — | — |
| 6 Aug 2026 · SCNL launches Rs 1 crore flood relief drive for 15000 families in Assam | business updates | low | — | — |
| 4 Aug 2026 · Promoter group allotted 38.5 lakh convertible warrants via preferential issue | ownership changes | medium | — | — |
| 3 Aug 2026 · Satin Creditcare Q1 FY27: PAT up 172% YoY, AUM grows 27% | investor communications | medium | — | — |
| 3 Aug 2026 · Allotment of 3.85M Convertible Warrants to Promoter Group at Rs 260 | fund raising | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| SPANDANA SPHOORTY FIN LTD |
| 1,886 |
| — |
| 0.89 |
| — |
| (32.8) |
| — |
| (7.1) |
| 53.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.8 | 17.6 | 66 of 403 | 84% |
| P/B | 0.8 | 1.1 | 177 of 448 | 60% |
| ROE | 11.6 | 2.7 | 86 of 495 | 83% |
| Debt / Equity | 0.0 | 0.0 | 11 of 495 | 18% |
| EBITDA margin | 55.1 | 46.7 | 206 of 447 | 54% |
| Revenue growth | 7.6 | 10.5 | 217 of 418 | 48% |
| Profit growth | 171.9 | 10.2 | 74 of 474 | 85% |
| Market cap | 2386 | 58 | 69 of 483 | 86% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
