Q3 2026 Spandana Sphoorty Financial Ltd Earnings Call Transcript
Key Points
- Spandana Sphoorty Financial Ltd (BOM:542759) reported a significant improvement in collection efficiency, reaching 99.8% for the new book sourced during the financial year.
- The company successfully raised INR 1,700 crores in Q3, reflecting renewed lender confidence.
- The introduction of a new Chief Transformation Officer aims to optimize business operations and implement minor strategic tweaks.
- Spandana Sphoorty Financial Ltd (BOM:542759) achieved a positive PPOP for the first time in several quarters, indicating a turnaround in financial performance.
- The company plans to merge its subsidiary, Cris Financial, with the parent company to streamline operations and reduce costs.
- The company reported a net loss of INR 95 crore for the quarter, primarily due to write-offs and the impact of a new labor code.
- High rejection rates of around 60% for new loan applications indicate challenges in expanding the customer base.
- Frequent changes in senior and mid-level management have been highlighted as a concern by credit rating agencies.
- The subsidiary, Cris Financial, has a high gross NPA of 10%, indicating stress in its loan portfolio.
- The company's cost of borrowings increased by 40 basis points, impacting overall financial performance.
Ladies and gentlemen, Good day and welcome to Spandana Sphoorty Financial Limited Q3 FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Venkatesh Krishnan, MD and CEO, Spandana Sphoorty Financial Limited, for his opening remarks. Thank you and over to you, sir.
Good evening all. Thank you for taking time out to attend this call. This is my first earnings call, at Spandana. So we'll take just a couple of minutes to introduce myself. My name is Venkatesh. People call me Venky. I've been working for about 35 years. 31 out of those 35 years have been in the financial services across banks, both foreign as well as Indian bank, NBFC, insurance, stock broking and now, of course, NBFC MFI. I joined the company exactly two months ago, November 27, from HDFC Bank, where I spent about close to 7.5 years handling both microfinance at the retail as well as the wholesale piece.
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