Go Digit General vs Central Bank of Q4 FY26

Go Digit reported a strong Q4 FY26 with gross direct premium of 11,300 crore, up 16.2% YoY, and PAT of 1,759 crore (up 49% YoY). The combined ratio improved to 105.7% (down 1.2pp YoY). Growth was driven by two-wheeler (up 52% to 556 crore) and fire segments, while health reinsurance was dropped due to poor profitability. The company transitioned to Indian Accounting Standards (IFRS-aligned) and reported an ROE of 17.7%. Management guided for continued focus on underwriting discipline, new specialty lines, and expects regulatory action on expense management to benefit the industry. Key risk: sustained competitive pressure in motor and health segments could pressure margins.

Guidance read

New specialty lines target 1,000 Cr premium in 3-5 years: Management plans to develop niche commercial lines, aiming for ~1,000 crore premium over 3-5 years. Motor OD loss ratio to stabilize by Q2 FY27: Corrective actions taken in Q4 should stabilize motor OD loss ratio by July-September 2026, then reduce. Crop insurance direct participation in FY27: Company plans to participate directly in crop insurance tenders in FY27, building on capability development.

Risk read

Key risks include Motor TP price hike delay — No TP price hike for fifth consecutive year; industry loss ratios may remain under pressure.; EUM regulatory compliance — Company's EUM is above peers due to business mix; regulatory action on expense management may impact growth.; Fire segment net loss ratio deterioration — Net loss ratio in fire increased due to two large claims; gross ratio stable but net impacted by reinsurance costs..

Promise ledger

Scorecard data is being built as historical quarters are processed.

CE

Central Bank of

Q4 FY26 · Financial Services

Central Bank of India reported a mixed Q4 FY26. Total business grew 15.6% to ₹8.12 lakh crore, with advances up 18.76% and CASA at 47.3%. Net profit fell to ₹724 crore (down 46% YoY) due to a one-time DTA impact of ₹632 crore from tax regime transition. Excluding this, adjusted PAT was ~₹925 crore. NIM improved 30bps QoQ to 3.07%, aided by an income tax refund. Asset quality improved: GNPA down 51bps YoY to 2.67%, slippage ratio improved to 1.16%. Management guided for 14-16% credit growth and NIM above 3% in FY27. Key risk: elevated slippages in Q4 due to audit-driven technical downgrades in MSME/agriculture.

Guidance read

Credit growth of 14-16% in FY27: Management expects advances to grow 14-16% in FY27, supported by strong capital adequacy (CRAR 17.91%) and outreach programs. Deposit growth of 10-12% in FY27: Deposits are guided to grow 10-12% in FY27, with continued focus on CASA mobilization. NIM to remain above 3% in FY27: Net interest margin is expected to stay above 3% in FY27, supported by strong CASA base and RAM focus. Slippage ratio to be less than 1% in FY27: Management targets slippage ratio below 1% in FY27, down from 1.16% in FY26.

Risk read

Key risks include Elevated Q4 slippages due to audit-driven downgrades — Q4 slippages rose to ₹1,310 crore vs ~₹800 crore average, attributed to technical downgrades in MSME and agriculture during audits.; ECL implementation impact on profitability — Transition to ECL norms from April 2027 may require additional provisions of ₹600-650 crore annually, though management expects to offset via tax savings.; NIM pressure from external benchmark-linked advances — 61% of advances are linked to external benchmarks, causing yield compression; deposit repricing lag may pressure margins.; Lumpy airline account recovery uncertainty — Recovery from a large airline NPA is ongoing; only ₹515 crore guarantee received so far, with auction process underway..

Promise ledger

Scorecard data is being built as historical quarters are processed.