Sammaan Capital
Sammaan Capital
Financial ServicesKey Fundamentals
SmallcapHousing FinanceFinancial ServicesPrice-based figures as of 9 Oct 2026, 3:59 pm IST · EPS basis: Consolidated · TTM
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.81 times its book value
Weaknesses
4- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -3.96% over past five years.
- Company has a low return on equity of -2.07% over last 3 years.
- Working capital days have increased from 88.4 days to 153 days
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-09 close, Sammaan Capital Ltd (formerly Indiabulls Housing Finance) traded at Rs 126.44, giving a market cap of Rs 14,686.55 crore. That price is 0.82x book value and just above the 52-week low of Rs 125.66. The company has a TTM EPS of Rs -60.32 and a reported ROE of -37.62%, and TTM sales fell 17%. Abu Dhabi-based IHC became the controlling shareholder after investing an initial Rs 5,652 crore on March 31, 2026. Since then, Q4 FY26 swung to a loss on higher impairments, and Q1 FY27 consolidated profit fell 27.2% year-on-year.
- IHC brought in Rs 5,652 crore as the first tranche of its investment on March 31, 2026. This is a large capital injection against a market cap of Rs 14,686.55 crore, and it strengthens the balance sheet and loss-absorbing capacity.
- IHC is now the classified promoter and controlling shareholder, holding a 28.5% equity stake that rises to 43.5% when its warrants convert. The warrant conversion is a further source of capital, and the new parent offers potential funding and franchise support.
- As of 2026-10-09 the stock traded at 0.82x book value. A price below book can leave room for a re-rating if asset quality stabilizes and the post-impairment book value holds.
- The stock closed at Rs 126.44 on 2026-10-09, only about 0.6% above its 52-week low of Rs 125.66 and about 34.5% below its 52-week high of Rs 192.95. Much of the recent negative news may already be reflected in the price.
- Despite the losses, the stock showed a dividend yield of 1.56% as of 2026-10-09, which offers some cash return while holders wait.
- The data shows TTM compounded profit growth of 59%, which could point to some recovery on a low or distorted base. This needs to be weighed against the negative TTM EPS of Rs -60.32.
- Recognizing large impairments in Q4 FY26 could clean up legacy problem assets. That would lower the risk of future provisions and help the planned shift to a diversified NBFC under IHC.
- TTM EPS is Rs -60.32 and the reported ROE is -37.62%, so the company is currently destroying shareholder value. The P/E is not meaningful because earnings are negative.
- TTM sales fell 17%, and compounded sales growth was -2% over 3 years, -4% over 5 years and -1% over 10 years. The loan book and revenue base have been shrinking over the long term.
- Q4 FY26 swung to a loss because impairments surged, and Q1 FY27 consolidated net profit fell 27.2% year-on-year. Asset quality and provisioning pressure have continued after the IHC deal.
- Average ROE has been weak: -2% over 3 years, 1% over 5 years and -3% last year, with ROCE at -4.73%. Profitability has stayed poor for a long time, not just in one bad year.
- Shareholder returns have been negative across every period: stock CAGR of -17% over 1 year, -5% over 3 years, -9% over 5 years and -16% over 10 years.
- The company has a low interest coverage ratio, and working capital days have risen from 88.4 to 153. Both point to pressure on earnings and liquidity for a leveraged lender.
- Issuing equity and warrants to IHC dilutes existing shareholders. IHC's stake goes from 28.5% to 43.5% on conversion, and the low 0.82x price-to-book may reflect market doubts about book value quality after the impairments.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Funding costs remain above 9% Sep 25
Sammaan raised ₹1,525 crore through NCDs: ₹775 crore on Sep 11 at 9.05%–9.10% and ₹750 crore on Sep 25 at 9.05%–9.75%, with tenors up to 2031. It can still raise money, but at over 9% its borrowing costs stay high and could squeeze lending margins (NIMs).
- EGM failed initial quorum Sep 10
The Sep 10, 2026 EGM was adjourned after missing the 75% quorum requirement. It reconvened 30 minutes later to approve the NBFC demerger scheme, but the miss suggests weak shareholder turnout.
- Q2FY27 disbursements surge 55% Oct 5
Q2FY27 disbursements rose to ₹6,000 crore from ₹3,875 crore in Q1, about 55% higher quarter on quarter. AUM crossed ₹59,000 crore, and the company added 30,700 new customers.
- Debt servicing consistently ahead of schedule Oct 8
Sammaan made every principal and interest payment due between Sep 8 and Oct 9, 2026 on time or early. These included ₹502.30 lakh paid on Sep 8, principal plus interest due Sep 25, ₹55.31 lakh across nine series due Sep 27, ₹4.68 lakh across two ISINs, and seven series paid on Oct 8, a day before the due date. No delays or defaults were reported, which supports its credit standing.
- Demerger advances at NCLT Sep 25
The NCLT admitted the second motion petition for the demerger of Sammaan Finserve, after shareholders approved the scheme at the Sep 10 EGM. The next hearing is on Nov 16, 2026.
- LIC nominee director changed Sep 30
P.S. Negi was appointed LIC nominee director effective Sep 30, 2026, replacing Rajiv Gupta.
- Investor meetings at BofA conference Sep 16
Sammaan scheduled one-on-one and group investor meetings for Sep 21, 2026 at the BofA Securities 2026 Asia Pacific Conference.
TL;DR: Sammaan Capital's business is speeding up again: Q2FY27 disbursements rose about 55% quarter on quarter to ₹6,000 crore, AUM crossed ₹59,000 crore, and it has paid every debt obligation on time or early. The main risk is costly funding, with ₹1,525 crore of fresh NCDs priced at 9.05%–9.75%, which could hold back profitability. Weak shareholder turnout at the EGM is a smaller concern. The trend is improving, and the next things to watch are the Nov 16 NCLT demerger hearing and whether the company can keep growing without its margins shrinking.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,900 | 2,227 | 2,143 | 2,205 | 2,207 | 2,422 | 2,017 | 2,107 | 2,400 | 2,251 | 2,158 | 1,358 | 1,652 |
| Expenses | 147 | 448 | 478 | 511 | 471 | 4,852 | 389 | 603 | 724 | 528 | 260 | 3,255 | 1 |
| Financing Profit | 400 | 429 | 353 | 402 | 426 | -3,668 | 434 | 455 | 480 | 436 | 440 | -3,576 | 315 |
| Fin. Margin % | 21% | 19% | 16% | 18% | 19% | -151% | 22% | 22% | 20% | 19% | 20% | -263% | 19% |
| Other Income | 13 | 15 | 69 | 50 | 30 | 3 | 3 | 25 | 9 | 10 | 0 | -6,496 | 31 |
| Interest | 1,354 | 1,350 | 1,312 | 1,291 | 1,309 | 1,238 | 1,194 | 1,050 | 1,196 | 1,286 | 1,458 | 1,679 | 1,335 |
| Depreciation | 19 | 23 | 23 | 21 | 19 | 20 | 20 | 25 | 21 | 21 | 21 | 25 | 20 |
| PBT | 394 | 422 | 399 | 431 | 437 | -3,685 | 417 | 455 | 468 | 425 | 419 | -10,097 | 326 |
| Tax % | 25% | 29% | 24% | 26% | 25% | -25% | 28% | 29% | 29% | 27% | 25% | -20% | 25% |
| Net Profit | 294 | 298 | 303 | 319 | 327 | -2,761 | 302 | 324 | 334 | 308 | 314 | -8,101 | 243 |
| EPS in Rs | 4.16 | 4.14 | 4.1 | 4.32 | 4.42 | -38.12 | 4.08 | 3.91 | 4.04 | 3.72 | 3.79 | -69.92 | 2.09 |
| Gross NPA % | 2.87% | 2.88% | 2.85% | 2.69% | 2.68% | 2.37% | — | 1.3% | 1.5% | 1.4% | — | — | — |
| Net NPA % | 1.69% | 1.66% | 1.71% | 1.52% | 1.52% | 1.4% | — | 0.8% | 0.8% | 0.8% | — | — | 0.15% |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7,243 | 9,221 | 11,628 | 14,952 | 17,020 | 13,219 | 9,998 | 8,988 | 8,719 | 8,579 | 8,676 | 8,171 | 7,418 |
| Expenses | 816 | 1,105 | 1,485 | 2,033 | 1,654 | 2,040 | 1,429 | 1,119 | 1,400 | 1,582 | 6,179 | 4,769 | 4,045 |
| Financing Profit | 2,482 | 3,145 | 3,733 | 4,909 | 5,640 | 2,667 | 1,630 | 1,628 | 1,683 | 1,690 | -2,295 | -2,216 | -2,385 |
| Fin. Margin % | 34% | 34% | 32% | 33% | 33% | 20% | 16% | 18% | 19% | 20% | -26% | -27% | -32% |
| Other Income | 9 | 4 | 62 | 6 | 6 | 2 | 29 | 6 | 8 | 41 | 2 | -6,480 | -6,454 |
| Interest | 3,944 | 4,971 | 6,411 | 8,010 | 9,726 | 8,512 | 6,939 | 6,242 | 5,636 | 5,307 | 4,791 | 5,618 | 5,757 |
| Depreciation | 19 | 20 | 23 | 37 | 43 | 108 | 97 | 77 | 86 | 85 | 83 | 88 | 88 |
| PBT | 2,473 | 3,129 | 3,772 | 4,878 | 5,604 | 2,561 | 1,562 | 1,556 | 1,606 | 1,646 | -2,376 | -8,784 | -8,927 |
| Tax % | 23% | 25% | 23% | 21% | 28% | 15% | 23% | 24% | 30% | 26% | -24% | -19% | — |
| Net Profit | 1,901 | 2,345 | 2,906 | 3,895 | 4,091 | 2,200 | 1,202 | 1,178 | 1,130 | 1,214 | -1,807 | -7,145 | -7,236 |
| EPS in Rs | 35.65 | 37.11 | 45.71 | 60.88 | 63.8 | 34.3 | 17.33 | 16.76 | 15.97 | 16.44 | -21.82 | -61.66 | -60.32 |
| Div. Payout % | 50% | 81% | 39% | 45% | 42% | 59% | 33% | 0% | 5% | 9% | -9% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 71 | 84 | 85 | 85 | 85 | 84 | 89 | 89 | 90 | 113 | 163 | 229 |
| Reserves | 6,561 | 10,610 | 12,038 | 14,273 | 16,397 | 15,454 | 16,045 | 16,585 | 17,272 | 19,679 | 21,660 | 18,763 |
| Borrowing | 47,487 | 61,085 | 85,301 | 1,11,056 | 1,05,756 | 79,674 | 68,805 | 61,359 | 52,403 | 48,493 | 42,726 | 51,853 |
| Other Liabilities | 3,110 | 3,935 | 6,274 | 7,188 | 7,866 | 7,660 | 8,299 | 3,940 | 5,180 | 4,774 | 5,633 | 3,399 |
| Total Liabilities | 57,229 | 75,714 | 1,03,697 | 1,32,603 | 1,30,104 | 1,02,872 | 93,238 | 81,973 | 74,945 | 73,060 | 70,181 | 74,243 |
| Fixed Assets | 123 | 136 | 169 | 169 | 214 | 450 | 295 | 327 | 433 | 325 | 391 | 341 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 6,164 | 10,693 | 13,617 | 14,792 | 19,717 | 12,277 | 6,146 | 5,546 | 5,370 | 7,456 | 14,219 | 17,518 |
| Other Assets | 50,942 | 64,886 | 89,912 | 1,17,642 | 1,10,173 | 90,145 | 86,796 | 76,100 | 69,142 | 65,278 | 55,571 | 56,385 |
| Total Assets | 57,229 | 75,714 | 1,03,697 | 1,32,603 | 1,30,104 | 1,02,872 | 93,238 | 81,973 | 74,945 | 73,060 | 70,181 | 74,243 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -8,892 | -11,643 | -17,845 | -25,024 | 21,206 | 19,331 | 7,088 | 657 | 4,001 | 140 | 8,772 | -7,466 |
| Investing | -2,093 | -4,997 | -2,107 | 368 | -4,220 | 8,265 | 3,103 | 1,649 | 884 | 1,042 | -5,578 | -1,540 |
| Financing | 10,699 | 15,330 | 22,591 | 23,775 | -7,335 | -27,934 | -10,632 | -7,444 | -9,142 | -2,383 | -2,373 | 14,684 |
| Net Cash Flow | -286 | -1,310 | 2,638 | -881 | 9,650 | -338 | -440 | -5,138 | -4,257 | -1,201 | 821 | 5,678 |
| Free Cash Flow | -8,924 | -11,574 | -17,970 | -25,004 | 21,117 | 19,297 | 7,060 | 638 | 3,957 | 85 | 8,727 | -7,505 |
| CFO/OP | -127 | -133 | -167 | -185 | 147 | 177 | 83 | 16 | 63 | 2 | 351 | -212 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 31% | 27% | 25% | 29% | 27% | 14% | 8% | 7% | 7% | 7% | -9% | -3% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sammaan Capital insights
61 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Sammaan Capital
What does Sammaan Capital Ltd do?
Where is Sammaan Capital Ltd (SAMMAANCAP) listed?
Which sector does Sammaan Capital Ltd belong to?
What is the market capitalisation of Sammaan Capital Ltd?
What is the 52-week high and low of Sammaan Capital Ltd?
Does Sammaan Capital Ltd pay dividends?
What is the Return on Equity (ROE) of Sammaan Capital Ltd?
Company Information
Sammaan Capital Ltd, incorporated in 2005, is registered with and regulated by National Housing Bank (NHB) and is engaged in the business of providing home loans and loan against property. It also provides corporate mortgage loan - lease rental discounting and residential construction finance.[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/SAMMAANCAP.md for Sammaan Capital Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.