Satin Creditcare Network Ltd(SATIN)

NSE: SATINBSE: 539404

₹ 221+1.59%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 2,441 crNext results: 28 Oct 2026Website: www.satincreditcare.comUpdated: 24 Oct 2026

About

Satin Creditcare Network Limited is an Indian NBFC-MFI that provides microfinance loans primarily to women in rural and semi-urban India through joint-liability group lending, with subsidiaries in affordable housing finance (SHFL) and MSME lending (SFL). The group is diversifying beyond microfinance, with non-MFI subsidiaries now at 19% of consolidated AUM in Q1 FY27, targeting 30% by 2030 and a consolidated AUM of ₹32,000 crore.^[1][2][3][4]

Business segments

Satin Housing Finance (SHFL) contributed ₹1,263 crore AUM (+31% YoY) in Q1 FY27 across 57 branches in 22 states; CRAR at 59.8%.^[3]
Satin Finserv (SFL), the MSME subsidiary, contributed ₹1,360 crore AUM (+134% YoY, +29% QoQ) in Q1 FY27 across 121 branches in 14 states; CRAR at 27.1%.^[3]
Non-MFI portfolio (SHFL + SFL) reached 19% of consolidated AUM in Q1 FY27, up from 14% a year earlier, targeting 30% by 2030.^[3]

Loan book and asset quality

Consolidated AUM reached ₹16,600 crore as of Sep 30, 2026 (+31% YoY); standalone AUM ₹13,600 crore (+23% YoY).^[1]
Standalone GNPA improved to 2.2% in Q1 FY27 from 3.7% a year earlier and 3.1% in March 2026; net NPA fell to 0.3%.^[3]
Stage 3 coverage rose to 85% in Q1 FY27 from 73% in March 2026; overall provision coverage ratio stands at 115%, with on-book provisions of ₹250 crore against an RBI requirement of ₹152 crore.^[3]
X-bucket collection efficiency was 99.9% in Q1 FY27, with every top state at 99.6% or better.^[3]
Standalone credit cost improved to 3.06% in Q1 FY27, down 177 bps YoY, compared with 3.8% for full-year FY26 and 4.6% in FY25.^[3][4]

Key operating metrics

Consolidated disbursements for H1 FY27 were ₹7,192 crore, up 48% YoY from ₹4,868 crore in H1 FY26.^[1]
Standalone NIM improved to 14.36% in Q1 FY27 from 13.16% YoY, on a gross yield of 22.44% and cost of funds of 8.08%.^[3]
Cost-to-income improved to 44.49% in Q1 FY27 from 48.91% YoY; operating expense ratio improved to 6.33% from 6.98% in Q4 FY26.^[3]
AUM per loan officer rose 29% YoY in Q1 FY27 as 392 branches added in FY26 began to season.^[3]
Standalone CRAR improved to 26.74% in Q1 FY27 from 25.39% in March 2026.^[3]

Branch network and reach

On a consolidated basis, branch count reached 1,987 covering 558 districts across 26 states and 5 UTs as of Q3 FY26, up 29.4% YoY.^[5]
SFL operated 121 branches in 14 states in Q1 FY27; SHFL operated 57 branches in 22 states.^[3]

Funding and capital

Satin raised approximately ₹3,000 crore in Q1 FY27, including ₹285 crore of subordinated debt; undrawn sanctions of ₹2,600 crore in hand.^[3]
Marginal cost of borrowing fell 37 bps YoY to 10.52% in Q1 FY27; 77 active lenders with top 10 accounting for 52% of borrowings.^[3]
Overseas funding constituted approximately 15% of borrowing mix as of Q3 FY26, with DFIs adding ~7%, totalling ~22% foreign money; all forex borrowings fully hedged with average maturity ~3.5 years.^[5]
Received BWR A1+ credit rating for a proposed Commercial Paper issue of ₹200 crore, as of October 2026.^[6]

Subsidiaries and new ventures

SFL's green finance book reached ₹624 crore in Q1 FY27, with ₹294 crore disbursed in the quarter across 50 loans; ~45% of the sustainable and emerging businesses portfolio is aligned to clean mobility and renewable energy.^[3]
Satin Growth Alternatives Limited (SGAL) received a SEBI Category II AIF license for a ₹200 crore gender-lens impact fund focused on rural MSMEs, and signed a co-investment MOU with State Bank of India.^[4]
SGAL is targeting first close and first deployment in Q2 FY27 (July - September 2026) with institutional LPs being onboarded.^[3]
Satin Technologies (wholly owned subsidiary) acquired a 51% stake in QTrino Labs, an IIT-incubated post-quantum cryptography firm, in January 2026.^[5]

Expansion plans

Consolidated AUM growth guidance of 20 - 25% for FY27, implying ₹18,200 - 18,900 crore by March 2027; long-term target is ₹32,000 crore by 2030.^[3][4]
Core banking platform scheduled to go live in Q2 FY27 after completing UAT, with subsequent expansion into loan management and loan origination for NBFCs.^[3]
FY27 AUM guidance to be reviewed at H1 once monsoon outcome is clear, with potential upward revision if conditions hold.^[3]

Industry context

Banks' share of outstanding microfinance loans fell to 26.4% from 32.6% YoY, while NBFC-MFIs rose to 43.7% from 38.9%, as of Q1 FY27 data cited on the earnings call.^[3]
Sector gross loan portfolio stabilised at ₹3.31 lakh crore in March 2026 after 8 consecutive quarters of decline; 95% of industry exposure is now with borrowers having ≤3 active lenders.^[3]

Market Cap

₹2,441 Cr

High / Low

₹274 / 136

Stock P/E

5.9

Price / Book

0.8

Book Value

₹259

EPS

₹30.1

No. of Shares

11.05 Cr

ROE

12.3%

Debt / Equity

3.84

Sales

₹3,143 Cr

Net Profit

₹332 Cr

Promoter holding

36.2%

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