Satin Creditcare Network Ltd (SATIN)
🎯 Key Takeaways
- Satin Creditcare Network Ltd is in a high-growth phase, transitioning from a period of sector stress to aggressive expansion with improved profitability and capital strength. Management is actively scaling its AUM base, geographic reach, and product offerings while reinforcing balance sheet resilience.
- Revenue declined 17.1% QoQ to ₹762 in Q1FY27.
- ⚠️ Rapid AUM expansion may pressure underwriting standards and asset quality if not managed rigorously.
📖 The Story
Satin Creditcare Network Ltd is in a high-growth phase, transitioning from a period of sector stress to aggressive expansion with improved profitability and capital strength. Management is actively scaling its AUM base, geographic reach, and product offerings while reinforcing balance sheet resilience. The company has demonstrated consistent profitability and is targeting a significant increase in AUM to ₹32,000 crores by FY30, reflecting a strategic shift toward sustainable, scalable growth.
📰 What's Happening
In Q1 FY27, Satin Creditcare reported 22% YoY AUM growth to ₹13,312 crores and 182% YoY PAT growth to ₹120 crores, with consolidated PAT reaching ₹123 crores — a 172% YoY increase and the 20th consecutive profitable quarter. The company expanded into Kerala, added 41 new branches, and launched Satin Growth Alternatives AIF with a ₹200 crore target. Management overlay was increased to ₹36 crores to cushion credit risk, and recovery against write-offs amounted to ₹8 crores. Additionally, promoters committed ₹100 crores at a 17% premium, strengthening equity backing. The board approved NCD issuance and warrant allotment to a promoter group, raising ₹100.1 crores to enhance capital structure flexibility.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 709 | 788 | 740 | 920 | 762 |
| Operating Profit | 53 | 64 | 88 | 209 | 159 |
| OPM % | 7.5% | 8.1% | 11.9% | 22.7% | 20.8% |
| Net Profit | 45 | 53 | 72 | 162 | 123 |
| EPS | ₹4.10 | ₹4.83 | ₹6.54 | ₹14.73 | ₹11.15 |
Revenue showed sequential improvement, with June 2026 collections at ₹762 crores and operating profit margin stabilizing at 20.8%, up from lows in prior quarters. Net profit rose to ₹123 crores in Q1 FY27 from ₹53 crores in September 2025, indicating strong bottom-line recovery. Despite lower revenue in December 2025 (₹740 crores), profitability improved due to operational efficiency and asset quality gains. The consistent rise in ROE (14.3% to 20.4% consolidated) and ROA (3.55% to 4.0%) reflects better capital utilization. Credit cost remains well-managed at 3.06%, and GNPA ratio improved to 2.18% from 3.74%, supporting margin sustainability.
🔮 Management Outlook & What's Next
Management has raised its FY2030 AUM target to ₹32,000 crores from ₹25,000 crores, driven by 27% YoY growth and expansion into new verticals and geographies. Credit cost is guided to remain in the 3-3.5% range for FY27, with continued focus on asset quality and recovery. The company plans to complete UAT for its new platform by September 2026 and maintain strategic investments in technology and secured lending. Capital allocation includes ongoing debt issuance and promoter-led equity infusion to support growth without diluting core equity stability.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 110 | 110 | 110 | 110 |
| Reserves | 2,431 | 2,433 | 2,511 | 2,753 |
| Borrowings | 8,388 | 8,791 | 9,640 | 10,991 |
| Total Liabilities | 11,176 | 11,592 | 12,851 | 14,387 |
| Fixed Assets | 104 | 103 | 103 | 153 |
| Investments | 50 | 55 | 317 | 157 |
| Total Assets | 11,176 | 11,592 | 12,851 | 14,387 |
The balance sheet shows a steady rise in total assets from ₹11,592 crores (March 2025) to ₹14,387 crores (March 2026), fueled by AUM growth and loan book expansion. Equity remains stable at ₹110 crores, but reserves have increased from ₹2,433 to ₹2,753 crores, reflecting retained earnings and capital resilience. Borrowings have risen from ₹8,791 to ₹10,991 crores, indicating active capital deployment, likely for funding expansion. Liquidity remains robust with ₹2,311 crores available and a strong Capital Adequacy Ratio of 26.74%, supporting ongoing debt issuance and strategic investments.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | -974 |
| Investing | -123 |
| Financing | +1,873 |
| Net Cash Flow | +777 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 36.2% | 36.2% | 36.2% | 36.2% |
| FII | 3.9% | 3.5% | 3.5% | 4.9% |
| DII | 5.2% | 5.2% | 5.3% | 6.3% |
| Public | 21.2% | 20.8% | 19.7% | 17.7% |
| # Shareholders | 48,704 | 46,944 | 44,277 | 37,727 |
Promoter holding remains stable at 36.17% over the last five quarters, indicating confidence in long-term prospects. FII ownership has declined slightly from 4.88% (Q1FY27) to 3.51% (Q4FY26), while DII increased from 5.18% to 6.32%, suggesting growing institutional interest. The number of shareholders has grown from 44,277 to 48,704, reflecting retail participation. The recent preferential warrant allotment to a promoter group may increase dilution risks but also aligns with capital-raising needs. Overall, shareholder base is broadening without significant promoter erosion.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.63 L Cr | 32.6 | 10.4% | 18.1% | 3.82 |
| BAJAJFINSV | 3.23 L Cr | 31.7 | 11.4% | 26.5% | 5.50 |
| SHRIRAMFIN | 2.57 L Cr | 19.3 | 11.5% | 17.1% | 3.80 |
| CHOLAFIN | 1.59 L Cr | 27.6 | 9.3% | 18.9% | 6.93 |
| JIOFIN | 1.58 L Cr | 74.2 | 2.3% | 1.6% | 0.17 |
| TATACAP | 1.56 L Cr | 28.5 | 8.4% | 12.3% | 5.28 |
| ICICIAMC | 1.52 L Cr | 30.4 | 111.5% | 83.6% | 0.00 |
| BAJAJHLDNG | 1.27 L Cr | 14.3 | 12.4% | 12.3% | 0.00 |
| MUTHOOTFIN | 1.20 L Cr | 10.6 | 14.4% | 29.3% | 3.88 |
| SBIFUNDS | 1.18 L Cr | — | — | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Rapid AUM expansion may pressure underwriting standards and asset quality if not managed rigorously. 2. Rising borrowings to fund growth could increase financial leverage and interest expenses if revenue growth slows. 3. Credit cost remains elevated at 3.06%, and further deterioration in loan quality could impact profitability. 4. Regulatory or operational risks in new geographies like Kerala could affect scalability. While recovery and provisioning efforts are underway, the company operates in a credit-sensitive sector where macroeconomic headwinds could impact disbursement trends.
📋 Recent Filings
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Announcement 26 August 2026Satin Growth Alternatives Limited, a subsidiary of Satin Creditcare Network Limited, announced the first close of its women-led Category II AIF within...
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Announcement 26 August 2026Satin Creditcare Network Limited announced its participation in a conference on September 3, 2026, hosted by Phillip Capital, where it will discuss in...
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🟡 Board Meeting 7 August 2026Satin Creditcare Network Limited held its 36th Annual General Meeting on August 7, 2026 via video conference, approving audited financial statements, ...
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Announcement 6 August 2026Satin Creditcare Network Limited announced a ₹1 crore flood relief initiative for 15,000 Assam families, mobilizing 15 vehicles and 150 employees to d...
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🟡 Board Meeting 3 August 2026Satin Creditcare Network Limited approved the allotment of 38,50,000 fully convertible warrants to Trishashna Holdings & Investments Private Limited a...
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Announcement 3 August 2026Satin Finserv, a subsidiary of Satin Creditcare Network, raised over Rs. 650 crore in YTD FY27 through debt and equity capital, including a Rs. 75 cro...
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Announcement 31 July 2026Satin Creditcare Network Limited announced that the audio recording of its Q1 FY27 earnings call held on July 31, 2026 is now available on its website...
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🔴 Financial Results 30 July 2026Satin Creditcare Network reported strong Q1 FY27 performance with 22% YoY/YOM growth to ₹13, with AUM reaching ₹13, ₹13, ₹13, disbursement growth in A...
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🔴 Financial Results 30 July 2026Satin Creditcare reported consolidated PAT of ₹123 Crores in Q1 FY27, a 172% YoY increase, marking its 20th consecutive profitable quarter. Standalone...
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🟡 Board Meeting 30 July 2026Satin Creditcare Network Limited announced the outcome of its board meeting held on July 30, 2026, approving unaudited standalone and consolidated fin...
🧠 Analyst's Read
Satin Creditcare is executing a clear turnaround and expansion strategy, supported by strong profitability trends, improving asset quality, and proactive capital management. The key next milestone is sustaining AUM growth while maintaining ROE and credit discipline. Investors should monitor quarterly disbursement trends, credit cost trajectory, and progress on technology integration to assess execution momentum.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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