TATACAP / language trends

Read confidence between the lines.

Tata Capital · tone and specificity signals across the available quarters.

Research layer active

Language signals

What changed in management language.

Q1-FY27 · Raj Sabwal

What we have tried to show here is that our disbursements are growing at a good pace. Like for example in quarter 1 of this year compared to quarter 1 of last year our disbursements have grown by 38%. And our book has grown by about 10%. What we are also seeing is that as our disbursement growth continues to increase, our book growth will catch up with the disbursement growth which will mean that our proportion of unsecured book in the total portfolio will increase helping us get to better NIMs and better margins.

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Q1-FY27 · Raj Sabwal

We do believe that the addition of gold loans is the right product which will help us in both on the growth side as well as on the margin side. Our advantage lies on few aspects. One obviously our brand which signifies trust. Second we do believe that our cost of funds gives us an advantage. Third we have been very strong on technology and operational excellence and that is what is very important in this business.

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Q1-FY27 · Rakhesh Bhya

The incremental ROA delta will come one-third from opex leverage and two-thirds from margins from here on till FY28. We see the benefits occurring every quarter and going forward you'll see this cost-to-income ratio coming down. We've guided that by FY28 we'll be at 33 to 34% on cost income ratio.

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