Satin Creditcare Q1 FY27: consol PAT triples YoY to ₹122.6 Cr, beats Street view

Satin Creditcare's consolidated PAT came in at ₹122.65 Cr for Q1 FY27, up 171.9% YoY from ₹45.10 Cr a year ago, and well above a Street estimate (Uniresearch) of roughly ₹22 Cr PAT (which had actually pencilled in a further YoY decline) — a sharp beat. Consolidated revenue from operations was ₹762.14 Cr, up 7.6% YoY but down 17.1% QoQ from ₹919.50 Cr in Q4 FY26, and running about 4% below the Street's ~₹794 Cr revenue estimate. Net profit margin improved to 16.04% from just 6.32% a year ago, though it eased from Q4 FY26's 17.56% — margin is expanding YoY but softer sequentially. Standalone PAT was ₹120.29 Cr, up 182.4% YoY, running about 10 points hotter than the consolidated growth rate as the non-lending subsidiaries (Housing Finance, Finserv, Technologies, Growth Alternatives, QTrino Labs) added a small net drag at the group level.

The YoY jump is largely a base effect off a weak Q1 FY26, when elevated MFI-sector credit costs held NPM to 6.32%. Core interest income grew a healthy 16.0% YoY to ₹713.96 Cr on AUM growth, while consolidated impairment/credit-cost provisioning fell 25.7% YoY to ₹106.12 Cr from ₹142.88 Cr — the main driver of the profit surge. Sequentially, though, provisioning rose 36% from ₹78.04 Cr in Q4, and the revenue/PAT dip QoQ is mostly explained by the ₹188 Cr swing in the fair-value change line (a ₹56.73 Cr loss this quarter versus a ₹131.70 Cr gain in Q4) rather than a deterioration in the core lending business.

The stock went into the print at ₹260, up 3.3% over the past month of trading.

On management's own FY27 guidance from the Q4 FY26 call — consolidated AUM growth of 25-30%, standalone credit costs improving to 3-3.5%, and better ROA — this quarter is on track: consolidated AUM reached ₹16,000 Cr, up 27% YoY, squarely inside the guided band, with disbursements up 54% YoY to ₹3,453 Cr. Standalone asset quality improved to GNPA 2.18% (versus roughly 3.7% a year ago per preview estimates), NNPA 0.33%, provision coverage 84.66% and CRAR a comfortable 26.74%. No management press release was available in the context to corroborate framing beyond the prior concall commentary. Alongside the results, the company raised capital through the quarter via ₹84.46 Cr of subordinated NCDs, a ~₹190.5 Cr USD bond tranche, further domestic NCDs, and a board-approved ₹100.1 Cr preferential warrant issue to promoter entity Trishashna Holdings (exchange in-principle approval received July 27, 2026) — funding lined up ahead of the FY27 growth plan.