Dar Credit & Capital Ltd — Q3 FY26
Dar Credit & Capital delivered a strong Q3 FY26 with net profit of ₹2.52 crore and PAT margin expanding to 20%, the highest in five quarters.
bullish
high
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
88%Questions answered1Evaded / deflected12Questions audited
Answered
High priority
Plans for fundraising via LCDs or substantial allotment to meet RBI deadline for MOS.
Asked by Push, P3 Wealth Management LLP
Management directly stated no fundraising plans due to high capital adequacy.
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Question
I just wanted to know if your management is planning further cap uh fund raising via LCDs or by substantial allotment to meet the RBI deadline for the MOS.
Management
our minimum requirement is 15%. Uh but where we are standing at around 43%. So uh it's uh it's we are very capitalized per se so not uh anything planned in the near future for fundraising.
Partial answer
High priority
Growth plans for FY27 and whether growth can occur without equity fund raise.
Asked by Rahul Kotari, Grit Equities
Management gave a balance sheet target but no specific growth rate or PAT guidance.
no specific growth rate givenvague on FY27 projections
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Question
can you please help me further understand about your plan for FI27? What sort of growth can we expect in the in the coming FI27 and also just coming on to the previous question asked by my colleague or your colleague uh would FI growth can occur without any further equity fund raise?
Management
FY27 we are expecting uh uh this year uh this FQ4 we are expecting that our AM will be closed around to 30 to 35... our projected scheme will be that our balance sheet uh asset will cross 300 cr plus... we have fairly capitalized... we had a big headroom for the new borrowings.
Evasive
Medium priority
Confirmation of earlier PAT guidance of 18-19 cr for FY27.
Asked by Rahul Kotari, Grit Equities
Management did not confirm or deny the specific PAT guidance number.
no confirmationvague reference to being on track
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Question
somewhere in earlier presentations I guess I have seen a number of guidance of around 18 181 19 pack 18 18 cr or 19 pack for f27 I I don't want any confirmation but uh is that guidance near to our management expectation
Management
we are already in the length of in the good length because we are in the good track of achieving that in the in the current year and hope we expect to see achieve in the FI27 also
Answered
High priority
Which loan segments contributed most to incremental growth in FY26.
Asked by Jetani, STSC Securities
Management provided specific segment growth numbers and current portfolio values.
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Question
I would like to ask that which known segments were there for example the multiple or unsecured MSN secured MSN that contributed most to this incremental growth in FY26.
Management
the two products will be the uh our our prime focus. First of all the our niche product that is the personal loan to the municipal employee and next one is secured... loan to municipal employees around 76.5 crores which at present now 82.5 cr... secured micro lab which has also got a good growth... in FY25 it was around 30 crores and as now it was around 50 crores.
Answered
Medium priority
What is driving the shift in portfolio mix towards secured MSME loans.
Asked by Jetani, STSC Securities
Management explained the strategic shift with specific operational changes.
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Question
MSN loans have scaled sharply versus FY34 so what is driving this shift in portfolio mix
Management
driver for this secure growth is we uh we already planned our uh we aligned our branches... we hired people with uh the qualities who can sell this product... we isolated or you can say we segregated our employees into secured and unsecured part
Answered
Medium priority
Customer acquisition trend and ticket size evolution across segments.
Asked by Jetani, STSC Securities
Management provided clear trends and ticket size ranges for each segment.
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Question
what is the customer acquisition trend currently and how is ticket size evolving across segment.
Management
customer acquisition trend is uh for unsecured it is not uh that high growth rate but for secured part it's good... for unsecured we had starting it from 10,000 to two lakhs and max next three lakhs... for secured it starts from 50,000 and it uh go up to 5 lakhs
Answered
Medium priority
Steps to reduce average cost of borrowing from ~13%.
Asked by Jetani, STSC Securities
Management explained specific actions (NCD issuances) and their impact on cost.
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Question
What steps are being taken to reduce the average cost of borrowing which are currently approximately 13%.
Management
the reason for the decrease in the overall cost of waring is the is the introduction of the entities... we have come out recently with two entities of around 20 cr up to December which of which the coupon rate was around 12 to 12.5%.
Answered
Medium priority
Effect of geography or borrower segments on asset quality.
Asked by Jetani, STSC Securities
Management directly addressed the question by describing borrower profile and underwriting.
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Question
Are you seeing any kind of effect in respective geography or some borrower segments
Management
the segments we are operating and the borrowers we are catering are not that uh that sort of micro finance per say borrowers who are really really in the in trouble for repaying the loans... our borrower segment is basically the established established small business shop
Answered
Medium priority
Risk profile of secured loan rapid growth.
Asked by Jetani, STSC Securities
Management explained risk mitigation through collateral and co-borrower structure.
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Question
just going back once loans rapid growth loss has a risk profile by any means profile
Management
the risk associated with this sort of followers got mitigated for this type of sentence to their attachment to their property... in secured loans the risk profiling is low very low so that in comparison to the unsecured part.
Answered
High priority
Optimal product mix over next 2-3 years.
Asked by Jetani, STSC Securities
Management provided specific percentage targets for each segment.
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Question
how does the management view give the optimal product mix over upcoming two to three years or four years maybe
Management
optimal product mix will be your secured loan will be the higher say almost 40 to 40 almost 35 to 40% will be the secured and your unsecured will be around 30 and balance remaining will be the personal loan will be 35.
Answered
Medium priority
How lending model accesses customer segments underserved by traditional banks.
Asked by Sedat Shukla, Individual Investor
Management clearly explained the niche customer segment and their approach.
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Question
can you elaborate on how you differentiate landing model helps you access customer segment that remain under traditional banks?
Management
we designed it in such a manner that we will start those segments who are just graduated from micro finance level but not to the bankable level... their income level annual income level has crossed the three lakhs but it's not that much incremental which the banking sector is welcome them
Answered
Medium priority
Proportion of growth from existing customers vs new acquisitions.
Asked by Gautam Mata, Individual Investor
Management provided a clear percentage split between repeat and new customers.
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Question
what proportions of growth is coming from existing customers versus new acquisitions.
Management
we are seeing a dropouts of around uh 40% uh in our cases... So basically you can say the 40% is the repeat and the 60% is the new acquisition.