Updates

AI summary - Q1 FY27 standalone revenue from operations INR274 Cr +128% y-y; PAT INR143 Cr +107% y-y - AUM at INR19,574 Cr, up 16% y-y; dues outstanding INR1.40 lakh Cr +20% y-y - Recoveries rose 151% to INR1,066 Cr; cumulative SR redemption ratio 52.5% - Acquisition INR353 Cr in Q1, seasonally light; pipeline strong for rest of FY27 - Debt-equity ratio 0.34x; CRAR 72.5%; standalone results best reflect shareholder value - IRR target for acquisitions ~20-22%; investment in AUM ~22% of total - Retail and SME share rising due to asset availability; retail provides steady cash flows - Collection-as-a-Service business in POC stage; expected to be significant revenue contributor - Write-offs expected to be minimal (<INR100 Cr next 3 years); recoveries from written-off assets recurring - Pricing disciplined; acquisitions at ~26% of dues; focus on returns and risk management