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What the record says.
Capital Small Finance Bank delivered a steady Q4 FY26 with PAT of 40 cr (+17% YoY) and NIM improving to 4.06% (+5bps QoQ). Advances grew 20.9% YoY to ₹8,687 cr, driven by MSME (+46% YoY) and LAP segments, while deposits crossed ₹10,000 cr (+20% YoY). Asset quality remained stable with GNPA at 2.54% and NNPA at 1.24%. Management guided for 22%+ loan growth in FY27, NIM expansion from deposit repricing (53% of term deposits due for repricing in H1), and ROA of 1.35-1.4% for FY27. Key risk: agriculture NPA stickiness (2.76%) could persist if monsoon disappoints, though management cites strong collateral and diversified cropping.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects organic secured loan book growth of 22%+ in FY27, with a target of ₹16,000 cr advances by FY29.
- Return on assets expected to improve to 1.35-1.4% in FY27, driven by NIM expansion and cost optimization.
- Bank plans to add 24 branches in FY27, reaching 235 branches, with a target of 300+ by FY29.
- Management expects credit cost to remain in the 0.15-0.25% range for FY27, with a downward bias.
Risks flagged
- Agriculture GNPA remained at 2.76% QoQ, and management expects it to remain rangebound with lower bias, not a sharp decline.
- Analyst raised concerns about geopolitical tensions and potential weak monsoon impacting agriculture portfolio; management downplayed citing collateral and irrigation.
- New ECL guidelines are still being evaluated; management expects P&L neutral to positive impact but uncertainty remains.
Key quotes
- We are targeting ROA of 1.35 to 1.4 in FY27 and we are targeting ROA of 1.6% plus in FY29.
- We intend to organically grow our secured loan book at the rate of 22% plus for FY27 and further accelerating the growth to achieve an advanced book of over 16,000 cr by FY29.
- We are not in a co-lending but we are in a business correspondent lending model... the credit risk is going to be with the originator.
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