Capri Global Capital LimitedQ2 FY27 Results & Financial Update
Capri Global Capital Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,785.60 Cr, PAT ₹418.33 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Capri Global Capital Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Capri Global Capital Limited reported a consolidated Assets under Management (AUM) expansion to ₹438,785 mn (₹43,878.5 crore) for Q2 FY27, reflecting a robust 62% year-on-year growth trajectory driven by broad-based momentum across all lending segments.
Net interest income for the quarter advanced to ₹8,125 mn, marking a 69% increase compared to Q2 FY26 and a 10% sequential rise from ₹7,363 mn in Q1 FY27, supported by a high-yield asset mix and stable yields on net advances.
Profit after tax (PAT) for Q2 FY27 rose to ₹4,183 mn, representing a 77% expansion year-on-year and an 18% quarter-on-quarter increase from ₹3,534 mn, driven by operating leverage, improved cost-to-income efficiency, and robust fee income generation.
Non-interest income grew 34% year-on-year to ₹2,730 mn, bolstered by strong contributions from insurance distribution, treasury operations, net car loan fees, and other operating income streams.
Operating efficiency improved as the cost-to-income ratio reduced by 807 basis points year-on-year to 41.4% in Q2 FY27, compared to 49.4% in Q2 FY26, highlighting productivity gains and leverage from the existing network.
Asset quality parameters remained resilient, with Gross NPA (Stage 3 %) standing at 1.2% and Net NPA (Stage 3 Net NPA) at 0.8% as of September 30, 2026, backed by a conservative provisioning stance and adequate ECL coverage.
The company maintained a comfortable liquidity buffer with total current liquidity of ₹60,569 mn across cash, bank balances, liquid mutual funds, fixed deposits, and undrawn bank lines as of the end of the quarter.
Capri Global Capital Limited reported consolidated revenue from operations of INR 1,785.60 crore for the quarter ended September 30, 2026, marking an increase compared to INR 1,576.48 crore in the preceding quarter.
01 · Business model
What does Capri Global Capital do?
Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) operating in India with a strong retail and institutional focus, providing credit across MSME loans, gold loans, housing finance, and retail construction finance.
The company's operational model combines direct branch lending with capital-efficient co-lending partnerships with over 11 major banks and financial institutions, allowing it to expand its assets under management while conserving capital and diversifying funding sources.
CGCL operates an extensive physical and digital network comprising 1,609 total branches across multiple states and union territories, supported by dedicated tech hubs in Gurgaon, Noida, and Bangalore.
In addition to core lending operations, the company runs asset-light fee-generating business streams including insurance distribution partnerships with 23 insurance companies and pan-India car loan origination services.
02 · Historical context
What shaped the business before this quarter
The company commenced its gold loan business operations in August 2022, which has since scaled rapidly to become a major contributor to its retail AUM mix.
CGCL significantly expanded its physical footprint over prior years, growing its total branch network from 1,224 branches in Q2 FY26 to 1,609 branches by Q2 FY27.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Total income | ₹1,787.93 Cr | ₹1,581.20 Cr |
| Interest income | ₹1,464.59 Cr | ₹1,322.86 Cr |
| Other income | ₹2.33 Cr | ₹4.73 Cr |
| Provisions | ₹31.73 Cr | — |
| Profit before tax | ₹556.97 Cr | ₹469.97 Cr |
| Profit after tax | ₹418.33 Cr | ₹353.38 Cr |
| EPS | ₹4.35 | ₹3.66 |
04 · Earnings & margin drivers
What drove earnings and margins
What drove net interest income and earnings
Driven by a 62% year-on-year increase in AUM to ₹438,785 mn and a stable net interest margin of 9.6% for Q2 FY27.
Fee and other income grew 34% year-on-year to ₹2,730 mn, supported by robust insurance distribution revenue of ₹506 mn and higher treasury gains.
Sustained high yields across segments, including MSME at 16.7%, housing finance at 13.7%, gold loans at 19.1%, and retail construction finance at 18.6%.
Interest income contributed INR 1,464.59 crore to the consolidated total during Q2 FY27, up from INR 1,322.86 crore in Q1 FY27.
Other income stood at INR 2.33 crore for the quarter, compared to INR 4.73 crore in the preceding quarter.
NIM, spread, funding cost and credit cost
Operating expenses grew at a slower pace than income, resulting in a cost-to-income ratio improvement of 807 bps year-on-year to 41.4% in Q2 FY27.
Borrowing costs remained stable at 9.2% in Q2 FY27, supported by diversified liability management through bank borrowings, debt securities, and co-lending partnerships.
Finance costs rose to INR 652.12 crore for the quarter, reflecting the cost of borrowings to support asset growth.
PAT margin improved to 23.43 percent for Q2 FY27 compared to 22.42 percent in Q1 FY27, reflecting operating leverage.
05 · Loan growth, sanctions & disbursements
How the lending book is moving
Total live borrower accounts across retail portfolios expanded steadily, with MSME live accounts reaching 59,205 and housing finance accounts reaching 49,843.
06 · Portfolio mix & lending exposure
Where the loan book is concentrated
Segments and products
Gold AUM reached ₹210,038 mn (inclusive of ₹63,051 mn in co-lending/DA), accounting for 47.9% of total AUM with 9.83 lakh live accounts.
MSME AUM (including micro-LAP and solar) stood at ₹70,155 mn (inclusive of ₹14,951 mn in co-lending/DA), representing 16.0% of total AUM.
Housing AUM reached ₹83,253 mn (inclusive of ₹12,831 mn in co-lending/DA), accounting for 19.0% of total AUM across 49,843 live accounts.
Construction Finance AUM expanded to ₹75,028 mn, representing 17.1% of total AUM with 304 live accounts.
Geography and market mix
Total branch network reached 1,609 branches across 30 States and UTs as of September 30, 2026, comprising 1,154 gold loan branches and 455 non-gold business branches.
07 · Strategy & portfolio evolution
How the lending mix and strategic agenda are changing
Co-lending and Direct Assignment (DA) AUM stood at ₹90,834 mn, representing 20.7% of overall AUM, partnering with 11 banks to support capital-efficient growth.
Maintained strategic partnerships with 9 life insurance, 10 general insurance, and 4 health insurance companies, generating total premiums of ₹1,434 mn in H1 FY27.
08 · Reported developments
What changed operationally
Consolidated profit after tax surged 77% year-on-year to ₹4,183 mn for Q2 FY27, driven by strong operational leverage and income growth.
The company recorded an 18.38% increase in consolidated net profit after tax, moving from INR 353.38 crore in Q1 FY27 to INR 418.33 crore in Q2 FY27.
09 · Items worth noticing
The line items that can distort a quick read
Total provisions for Q2 FY27 stood at ₹793 mn, comprising ECL provisions of ₹212 mn and write-offs of ₹582 mn.
Provisions for the current quarter were reported at INR 31.73 crore.
10 · Funding & balance sheet
How funding, liquidity and capital support the loan book
Capital allocation & funding
Consolidated borrowings stood at ₹304,890 mn as of Q2 FY27, comprising bank borrowings of ₹254,955 mn and debt securities of ₹49,935 mn.
New credit facilities sanctioned for Q2 FY27 reached ₹44,276 mn, backed by a lender base of over 40 financial institutions and ₹3,621 mn in undrawn bank lines.
11 · Management guidance & targets
What management is targeting from here
Management has targeted ₹650 bn in AUM by FY28 and ₹1,250 bn+ by FY31 growing at a 28%-30% CAGR, alongside a consistent RoAE target of 19.0%-21.0% and RoAA of 4.2%-4.7%.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Brand and Marketing Campaigns
Executed major brand campaigns in South India starring brand ambassadors Nayanthara and Pankaj Tripathi, achieving over 141 mn campaign reach and a 173% increase in gold loan search growth.
13 · Previous-quarter changes
What changed since the previous quarter
Total branch network increased sequentially from 1,433 branches in Q1 FY27 to 1,609 branches in Q2 FY27.
Revenue from operations increased by 13.27% sequentially to INR 1,785.60 crore in Q2 FY27 from INR 1,576.48 crore in Q1 FY27.
14 · Key Q&A
The quarter, answered directly
What does Capri Global Capital do?
Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) operating in India with a strong retail and institutional focus, providing credit across MSME loans, gold loans, housing finance, and retail construction finance.
What is the clearest takeaway from Q2 FY27?
Capri Global Capital Limited reported a consolidated Assets under Management (AUM) expansion to ₹438,785 mn (₹43,878.5 crore) for Q2 FY27, reflecting a robust 62% year-on-year growth trajectory driven by broad-based momentum across all lending segments.
What drove earnings or loan-book movement?
Driven by a 62% year-on-year increase in AUM to ₹438,785 mn and a stable net interest margin of 9.6% for Q2 FY27.
What mattered most for margins, funding or credit cost?
Operating expenses grew at a slower pace than income, resulting in a cost-to-income ratio improvement of 807 bps year-on-year to 41.4% in Q2 FY27.
What changed operationally beyond the headline numbers?
Co-lending and Direct Assignment (DA) AUM stood at ₹90,834 mn, representing 20.7% of overall AUM, partnering with 11 banks to support capital-efficient growth.
What is management guiding or targeting from here?
Management has targeted ₹650 bn in AUM by FY28 and ₹1,250 bn+ by FY31 growing at a 28%-30% CAGR, alongside a consistent RoAE target of 19.0%-21.0% and RoAA of 4.2%-4.7%.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
AUM Growth Trajectory: Monitor the pace of AUM expansion toward the ₹650 bn FY28 target across gold, MSME, and housing segments.
- 02
Asset Quality Metrics: Track Stage 3 Gross NPA and Net NPA trends to ensure credit discipline is maintained amidst portfolio scaling.
- 03
Subsequent Financial Disclosures: Monitor upcoming quarterly financial filings to evaluate sustained growth in interest income and profit margins.
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