Whalesbook
Mortgage lender Sammaan Capital Ltd. announced a consolidated net loss of ₹8,101.4 crore for the fourth quarter ending March 31, 2026. This compares sharply to a loss of ₹324.04 crore recorded in the same period last year. The company's net interest income (NII) also saw a dramatic year-on-year decline of 92%, falling to ₹84.3 crore from ₹1,057.2 crore.
Impairment and Exceptional Charges
The significant net loss was primarily driven by ₹2,958.1 crore in impairment charges on financial instruments and ₹6,499.1 crore in exceptional items recorded during the quarter. These charges substantially impacted the company's profitability.
Assets Under Management (AUM) and NPAs
Sammaan Capital reported a unified opening Assets Under Management (AUM) of ₹53,160 crore. The company stated it has achieved zero gross and net Non-Performing Assets (NPAs) on this opening AUM, asserting that no further incremental net provisions are anticipated. The company detailed that its provision buffers adequately cover terminal credit costs, corresponding to an annualized credit cost of approximately 1.9% on total disbursals of ₹3.60 lakh crore. This has since reduced to the opening AUM figure with zero NPAs.
Deleveraging Program
The company emphasized that its opening AUM has undergone cashflow testing and has successfully serviced borrowings totaling around ₹1.35 lakh crore as of September 2018. Since then, approximately ₹1.3 lakh crore has been net serviced. Sammaan Capital described this as the largest deleveraging program undertaken in corporate India. The company has sold down approximately ₹1.05 lakh crore ($11 billion) across 24 banking and non-banking financial institution relationships, with its co-lending and distribution (DA) playbook fully operational.
Share Performance
Shares of Sammaan Capital Ltd. concluded trading on the BSE at ₹141.75 on Wednesday, marking a gain of ₹3.40, or 2.46%.