SG Finserve LimitedQ2 FY27 Results & Financial Update
SG Finserve Limited: Q2 FY27 consolidated results and company financials – revenue ₹160.94 Cr, PAT ₹58.53 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 SG Finserve 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
For the quarter ended September 30, 2026, SG Finserve reported total consolidated revenue from operations and total income of INR 160.94 crore, driven primarily by interest income of INR 152.93 crore and fee/commission income of INR 8.00 crore.
Profit before tax for Q2 FY27 stood at INR 79.11 crore after accounting for finance costs of INR 68.22 crore and other operational expenses.
The company posted a net profit (PAT) of INR 58.53 crore for the quarter, reflecting a PAT margin of approximately 36.37%, with basic and diluted earnings per share coming in at INR 8.93.
Tax expense for the period totalled INR 20.58 crore, comprising current tax of INR 20.58 crore and a minor deferred tax credit.
Total provisions and impairment allowances for financial instruments stood at INR 1.42 crore for the quarter.
The company noted that consolidated results include interim financial information of two wholly owned subsidiaries which have not been reviewed by statutory auditors, though management noted these are not material to the group, showing INR nil revenue and a total comprehensive loss of INR 27.26 lakhs for the quarter.
01 · Business model
What does SG Finserve do?
SG Finserve Limited operates as a non-deposit taking non-banking financial company (NBFC-ND) classified in the middle layer, registered with the Reserve Bank of India.
The company is primarily engaged in providing loans to small and medium enterprises (SMEs) and other enterprises, alongside carrying out factoring business under the Factoring Regulation Act, 2011.
During the quarter ended September 30, 2026, the company presented consolidated financial results incorporating newly incorporated subsidiaries, namely SG Insurance Brokers Limited and SG Alternative Investment Fund Limited.
02 · Historical context
What shaped the business before this quarter
Previously, SG Finserve was registered with the RBI as an NBFC-ICC and subsequently obtained registration to carry out factoring business in January 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Total income | ₹160.94 Cr |
| Interest income | ₹152.93 Cr |
| Other income | ₹0.00 Cr |
| Provisions | ₹1.42 Cr |
| Profit before tax | ₹79.11 Cr |
| Profit after tax | ₹58.53 Cr |
| EPS | ₹8.93 |
04 · Earnings & margin drivers
What drove earnings and margins
What drove net interest income and earnings
Interest income contributed INR 152.93 crore to the total revenue of INR 160.94 crore during Q2 FY27.
Fees and commission income added INR 8.00 crore to the top-line during the quarter.
NIM, spread, funding cost and credit cost
Finance costs formed a significant outgo at INR 68.22 crore for the quarter, reflecting the cost of borrowings and debt securities.
Provisions and loan impairment charges stood at INR 1.42 crore for the quarter.
05 · Portfolio mix & lending exposure
Where the loan book is concentrated
Segments and products
The company is primarily engaged in providing loans to small and medium enterprises and other enterprises with no overseas operations; hence, segment reporting under Ind AS 108 is not required.
06 · Strategy & portfolio evolution
How the lending mix and strategic agenda are changing
The Board approved the acquisition of 24.50% equity shares of SG Enterprise Solutions Private Limited from related party SG Green Buildings Private Limited for an aggregate cash consideration of INR 1,22,500, making it an associate company to act as a Group Shared Services Company.
The Board approved the acquisition of a 15.50% stake in Succesship Technologies Private Limited for an aggregate cash consideration of INR 4.65 crore, aiming to build in-house AI and digital capabilities for supply chain financing and digital lending.
The Board approved an investment plan of up to USD 5 million (approximately INR 48 crore) to set up a finance company in GIFT City as a wholly owned subsidiary, subject to statutory approvals.
07 · Reported developments
What changed operationally
The company transferred INR 2.01 crore to an Impairment Reserve during Q2 FY27 in compliance with RBI notifications, bringing the reserve balance to INR 10.64 crore as of September 30, 2026.
08 · Funding & balance sheet
How funding, liquidity and capital support the loan book
Capital allocation & funding
The company fully repaid Secured Redeemable Non-Convertible Debentures amounting to INR 50.00 crore and Commercial Papers of INR 30.00 crore during the quarter.
The company subsequently issued Commercial Papers amounting to INR 30.00 crore on October 1, 2026.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Internal Auditor Transition
Mr. Saurabh Mishra stepped down as Head of Internal Auditor effective October 16, 2026, and Mr. Alok Bhushan was appointed as the new Internal Auditor effective October 17, 2026.
10 · Key Q&A
The quarter, answered directly
What does SG Finserve do?
SG Finserve Limited operates as a non-deposit taking non-banking financial company (NBFC-ND) classified in the middle layer, registered with the Reserve Bank of India.
What is the clearest takeaway from Q2 FY27?
For the quarter ended September 30, 2026, SG Finserve reported total consolidated revenue from operations and total income of INR 160.94 crore, driven primarily by interest income of INR 152.93 crore and fee/commission income of INR 8.00 crore.
What drove earnings or loan-book movement?
Interest income contributed INR 152.93 crore to the total revenue of INR 160.94 crore during Q2 FY27.
What mattered most for margins, funding or credit cost?
Finance costs formed a significant outgo at INR 68.22 crore for the quarter, reflecting the cost of borrowings and debt securities.
What changed operationally beyond the headline numbers?
The Board approved the acquisition of 24.50% equity shares of SG Enterprise Solutions Private Limited from related party SG Green Buildings Private Limited for an aggregate cash consideration of INR 1,22,500, making it an associate company to act as a Group Shared Services Company.
What should the next disclosure help confirm?
Monitor the regulatory approvals and final incorporation of the proposed finance company subsidiary in GIFT City.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
GIFT City Subsidiary Incorporation: Monitor the regulatory approvals and final incorporation of the proposed finance company subsidiary in GIFT City.
- 02
Completion of Strategic Acquisitions: Track the completion of the acquisitions of SG Enterprise Solutions Private Limited (targeted by December 31, 2026) and Succesship Technologies Private Limited (targeted by March 31, 2027).
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