Capri Global Capital Q2 FY27 Results Analysis: PAT Jumps 77%, GNPA Rises to 1.26% (CGCL)
Capri Global Capital Ltd's Q2 FY27 numbers came in strong, with revenue of Rs. 1,787.93 Cr (+59.08% YoY) and PAT growth of +77.26% YoY. Here's a quick read of what worked, what to watch, and what management said.
| Results date | October 27, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Revenue (Q2) | Rs. 1,787.93 Cr (+59.08% YoY) |
| PAT (Q2) | Rs. 418.33 Cr (+77.26% YoY) |
| EPS (Q2) | Rs. 4.35 (+77.55% YoY) |
| Market cap | Rs. 22,562.87 Cr |
| CMP | Rs. 234.25 |
Quarter Snapshot
CGCL delivered 59.08% YoY total income growth and 77.26% PAT growth with PPOP margin up 487 bps YoY, and FY27 PAT guidance of Rs.1,300 crore remains on track with H1 PAT at Rs.771.71 crore. The offset is a credit-quality reversal: GNPA rose to 1.26%, the credit-cost proxy hit 1.13% against management's ≤1% commitment, and CAR fell to 22.72% while leverage rose to 3.83x. Fee income rebounded 36.36% QoQ confirming the guided co-lending resumption.
Key Investment Insights
Key Positives
- Total income grew 59.08% YoY to Rs.1,787.93 crore; interest income up 65.42% YoY
- PAT grew 77.26% YoY to Rs.418.33 crore; EPS Rs.4.35 vs Rs.2.45 YoY
- PPOP grew 84.29% YoY to Rs.636.28 crore; PPOP margin up 487 bps YoY to 35.59%
- NII grew 69.43% YoY to Rs.812.48 crore
- Fee & commission income rebounded 36.36% QoQ after the Q1 co-lending disruption, consistent with guided resumption by September 2026
- Derived cost ratio fell to 27.94% from 33.17% YoY; employee costs up only 2.69% QoQ vs revenue +13.07% QoQ
- Loans grew 21.07% in H1 to Rs.34,079.29 crore; FY27 PAT guidance of Rs.1,300 crore on track (H1 PAT Rs.771.71 crore)
- RoAE proxy 20.36% within the guided 19-21% band; RoAA proxy 4.24% within the ~4.2-4.7% band
Risk Factors
- Standalone GNPA rose to 1.26% from 1.02% and NNPA to 0.85% from 0.56% QoQ — first sequential asset-quality reversal in the disclosed series
- Credit-cost proxy rose to 1.13% from 0.88% in Q1, above management's stated ceiling that credit cost will not go above 1%
- Standalone CAR fell to 22.72% from 24.66% at Q1; consolidated D/E rose from 3.35x to 3.83x in H1
- Impairment on financial instruments up 154.55% YoY to Rs.79.31 crore
- Net gain on derecognition (assignment gains) declined 10.66% YoY
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Disclaimer: This results analysis is published for educational and informational purposes only. It is not investment advice, not a recommendation to buy, sell or hold any security.