Q3 2025 Sammaan Capital Ltd Earnings Call Transcript
Key Points
- Sammaan Capital Ltd (BOM:535789) successfully raised $150 million through a qualified institutional placement, stabilizing its cap table with top institutional investors owning 25% of the company.
- The company has demonstrated strong access to equity markets, maintaining high capital ratios and moderate to low NPA levels.
- There is significant traction in the growth of Assets Under Management (AUM), with a growth AUM of approximately 35,000 crores, forming 56% of the total AUM.
- Sammaan Capital Ltd has managed to maintain steady profitability and improving asset quality during its business model transition.
- The company has a strong credit profile, with gross and net non-performing assets at their lowest levels in six years, standing at 1.19% and 0.69% respectively.
- The reduction in the legacy book is still outpacing the growth in the growth AUM, which may continue for another quarter.
- Sammaan Capital Ltd does not have a deposit-taking license, which is a shortcoming in its business model.
- The company is facing a legal challenge regarding the usage of the brand 'Sammaan', which could potentially be a distraction.
- There are concerns about the valuation of the company, as expressed by a retail investor, who noted that the company's stock has not gained much in the last 5 to 6 years.
- The company's operating expenses have shown volatility, with fluctuations in employee and other expenses noted in the recent quarter.
Ladies and gentlemen, good day and welcome to Saan Capital Limited Q3 FY25 warnings conference call.
As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during the conference call, please signal an operator by pressing 100 on your touchtone phone.
Please note that this conference is being recorded.
I now hand the conference over to Mr. Kamal Muchandani from Investec Capital.
Thank you and over to you, sir.
Good evening. Welcome to the earnings conference call of Saman Capital Limited. We have with us on the call today Mr. Gagan Banga, Vice Chairman, managing director.
Joined by other senior management of Saman Capital and Saman Finserve Limited, I would now like to hand over the call to Gogano for his opening comments, after which we will take the question and answer out, over to you, sir.
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