Risks
4 risks
Risk Intelligence
Elevated opex from collection infrastructure investments
View Risks →Carborundum Universal Limited — Q2 FY26
Carborundum Universal (Northern Arc Capital) reported Q2 FY26 PAT of ₹92 crore, up 13% QoQ, driven by NIM expansion of 40bps QoQ to 9.3% as cost of funds declined 40bps to 8.5%.
bullish
high
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Carborundum Universal (Northern Arc Capital) reported Q2 FY26 PAT of ₹92 crore, up 13% QoQ, driven by NIM expansion of 40bps QoQ to 9.3% as cost of funds declined 40bps to 8.5%. AUM grew 15% YoY to ₹14,166 crore, with direct-to-customer segment up 17% YoY and MSME finance surging 42% YoY. Credit cost improved to 2.7% from 3% in Q1, aided by lower MFI provisions and stronger consumer collections. Management guided for FY26 AUM growth of 20-22% and ROA of 2.8%+, with credit cost in the 2.6-2.8% range. The fee-based business (performing credit funds up 14% YoY) remains a key differentiator. Risk: elevated opex from collection infrastructure investments may pressure near-term profitability if credit costs do not decline as expected.
कार्बोरंडम यूनिवर्सल (नॉर्दर्न आर्क कैपिटल) ने Q2 FY26 में ₹92 करोड़ का मुनाफा कमाया, जो पिछली तिमाही से 13% ज्यादा है। इसकी वजह है कि कंपनी को लोन पर मिलने वाला ब्याज (NIM) 9.3% हो गया, जबकि उसे खुद लोन लेने पर कम ब्याज (8.5%) देना पड़ा। कुल लोन (AUM) ₹14,166 करोड़ हो गया, जो पिछले साल से 15% ज्यादा है। खासकर छोटे कारोबारियों (MSME) को दिए गए लोन में 42% का उछाल आया। लोन न चुकाने का खर्च (credit cost) 2.7% रहा, जो पिछली तिमाही के 3% से कम है। कंपनी को उम्मीद है कि इस साल AUM 20-22% बढ़ेगा और मुनाफा 2.8% से ज्यादा रहेगा। लेकिन सावधानी: वसूली के लिए किए गए निवेश से खर्च बढ़ सकता है, जिससे मुनाफा कम हो सकता है।
Risks4 trackedTranscriptfull text
Research workspace
Focused Modules
Transcript
Full text
Call Transcript
Full transcript text is available on this route.
Read Transcript →Quarter Snapshot
AUM
₹14,166 Cr
+15% YoY
Assets under management grew to ₹14,166 crore, driven by direct-to-customer segment.
MSME Finance Growth
42% YoY
+42% YoY
MSME finance AUM grew 42% year-on-year, reflecting strong momentum in secured lending.
Credit Cost
2.7%
-30bps QoQ
Credit cost improved to 2.7% in Q2 from 3% in Q1, within guided range.
NIM
9.3%
+40bps QoQ
Net interest margin expanded 40bps sequentially to 9.3% due to lower funding costs.
Fast read
Guidance and risk preview
Management expects full-year AUM growth between 20% and 22%, with H2 stronger than H1.
Opex ratio increased to 3.7% due to investments in MSME sales and collection teams; if credit costs do not decline as expected, profitability could...
View Risks →