Capri Global Capital Limited · NSE:CGCL
Capri Global Capital — Q2 FY2026 Earnings Presentation
65 slides from Capri Global Capital's earnings presentation, Oct 30, 2025
Slide 1: Exchange filing cover letter for Q2FY26 presentation
October 30, 2025 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Pheeroze Jeejeebhoy Towers Exchange Plaza, 5th Floor Dalal Street, Fort Plot No- 'C' Block, G Block Mumbai - 400 001 Bandra-Kurla Complex, Bandra (East) Scrip Code: 531595 Mumbai – 400 051 Scrip Code: C
Slide 2: Q2FY26 Earnings Presentation
Q2FY26 Earnings Presentation 30th October 2025
Slide 3: Table of Content
Table of Content 1 Business Updates 2 Quarterly Financial Performance 3 Strategic Outlook 4 Board and Management 5 ESG 6 Yearly Financial Performance 7 Annexure
Slide 4: Performance Highlights
Performance Highlights (In ₹ mn unless stated otherwise) Q2FY26 Q2FY25 YoY Q1FY26 QoQ AUM 270,401 192,726 40% 247,538 9% Net Interest Income 4,795 3,046 57% 4,156 15% Non Interest Income 2,034 1,033 97% 1,661 22% Operating Expenses 3,377 2,621 29% 2,702 25% Operating Profit 3,453 1,457 137% 3,115 11
Slide 5: Performance Highlights
Performance Highlights (In ₹ mn unless stated otherwise) H1FY26 H1FY25 YoY AUM 270,401 192,726 40% Net Interest Income 8,952 6,055 48% Non Interest Income 3,695 2,122 74% Operating Expenses 6,079 5,267 15% Operating Profit 6,567 2,910 126% PAT 4,109 1,727 138% Cost-Income Ratio (%) 48.1% 64.4% 1,634
Slide 6: Business Updates
1 Business Updates
Slide 7: Business Update: Consolidated AUM Up 40% YoY
Business Update Consolidated AUM Up 40% YoY AUM Break Up (₹ mn) Composition of AUM (%) 270,401 247,538 903 228,602 1.2% 1.2% 0.9% 0.6% 1,600 0.3% 206,726 2,042 49,690 192,726 17.4% 18.1% 18.1% 18.3% 18.4% 45,206 2,553 2,220 41,329 37,423 59,723 22.1% 22.6% 22.5% 22.8% 22.2% 33,462 54,903 52,019 46,4
Slide 8: Retail AUM
Retail AUM Co-Lending AUM showing Steady Growth Co-Lending AUM (₹ mn) MSME AUM (₹ mn) CLM AUM/Cons.AUM 18.3% 17.9% 17.8% 18.9% 21.0% 54,779 56,019 47,601 49,258 52,789 56,772 10,025 10,319 10,923 46,808 9,561 9,710 8,247 36,909 40,795 35,195 7,547 5,963 4,694 5,492 37,601 42,764 44,460 45,096 24,810
Slide 9: Gold Loan Business Update
Gold Loan Business Update Strong Customer Acquisition Momentum Driving Portfolio Growth Average Ticket Size (On Portfolio) (₹ ‘000s) Live Accounts 146 714,459 138 658,030 128 612,349 633,428 629,627 108 112 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Loan to Value (%) (Incr
Slide 10: MSME Business Update
MSME Business Update Well-Diversified Book by Geography Average Ticket Size (Incr. Disbursals) (₹ mn) Live Accounts 2.4 2.2 2.2 2.2 31,065 30,949 31,465 31,100 2.1 30,383 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Loan to Value (%) (Incremental Disbursals) Geographical Dis
Slide 11: Housing Finance Business Update
Housing Finance Business Update Expanding Customer Base with a Diversified and a Self-Employed Led Portfolio Average Ticket Size (Incr. Disbursals) (₹ mn) Live Accounts 2.2 40,188 2.1 36,939 38,244 2.0 33,023 34,591 2.0 2.0 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Loan t
Slide 12: Construction Finance Business Update
Construction Finance Business Update Strong Pipeline of New Accounts; AUM Growth of 48% YoY Average Ticket Size (₹ mn) Live Accounts Outstanding Sanction 287 286 282 521.0 280 413.9 379.6 376.2 272 268.3 146.6 161.4 173.0 123.0 130.4 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2F
Slide 13: Insurance Distribution - Asset Light Income Stream
Insurance Distribution - Asset Light Income Stream Strategic Partnerships with 18 Insurance Companies Policies | Key Statistics 9 5 4 Cross Sell 40.0% Gold Housing 30.0% 38.9% MSME 29.6% Direct 60.0% Life Insurance General Insurance Health Insurance Car Loan 1.5% Companies Companies Companies • Life
Slide 14: Car Loan Origination
Car Loan Origination Pan-India Presence 02 Partner Banks & Financial Institutions Pan-India coverage through presence 15 in 821 locations in 31 States & UTs 26 04 23 36 04 04 04 80 09 62 39 02 03 03 27 01 52 05 69 29 05 17 16 57 24 417 01 44 75 Total Locations (Branches + Feet-on-Street) 34 43 Q2FY2
Slide 15: Car Loan Origination
Car Loan Origination 14% YoY Increase in the Value of Loan Originations Consistently Rising Loan Originations (₹ mn)^ Loan Originations (₹ mn) and Volume Full Year Basis (Nos.)^ Originations Volume 105,519 29,693 28,304 97,415 100,744 28,700 94,636 24,783 22,978 56,939 51,384 17,338 14,918 Q2FY25 Q3
Slide 16: Branch Network
Branch Network Widening Reach, Strengthening Presence Nationwide MSME, Housing Finance, Gold Loan Branches 01 Construction Finance and Car Loan Distribution 07 842 Branches in 11 States & UTs 05 06 382 Branches in 20 States & UTs 102 06 25 04 67 167 124 98 43 3 01 131 61 01 01 113 40 ➢ Total branch
Slide 17: Network
Network Expanding Footprint to Accelerate Customer Acquisition Branch Addition Normalizing 1,224 1,111 1,138 997 1,066 • Increased branch network with a net addition of 86 branches during Q2FY26. Total branch network stood at 1,224 branches 821 842 vs. 1,138 branches in Q1FY26. 776 803 758 • Mortgag
Slide 18: Quarterly Financial Performance
2 Quarterly Financial Performance
Slide 19: Segmental Yields
Segmental Yields Robust Yields Sustained Alongside AUM Growth MSME (%)* Housing Finance (%)* 16.4% 13.3% 13.3% 16.1% 12.9% 12.9% 12.9% 15.8% 14.6% 14.7% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Construction Finance (%)* Gold Loans (%)* 19.9% 18.1% 17.7% 19.0% 17.3% 18.2%
Slide 20: Loan Yields and Margins
Loan Yields and Margins Yield on Net Advances (%) Cost of Borrowings (%)1 9.6% 9.7% 9.7% 9.7% 9.6% 16.3% 16.2% 16.5% 16.5% 16.0% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Note: Yield calculated as interest income including INDAS adjustments for processing fee, Note: Calcu
Slide 21: Financial Highlights
Financial Highlights Total Income grew 67% YoY; Momentum Picks in Fee Income Net Interest Income (₹ mn) Non-Interest Income (₹ mn) 2,034 Treasury 4,795 1,813 46 1,661 278 4,156 183 3,812 81 Insurance Fee Income 3,453 239 253 3,046 1,074 653 1,032 595 389 Other Non-interest 119 162 127 137 Income 199
Slide 22: Financial Highlights
Financial Highlights Profitable Growth Backed by Improved Cost Ratios and Credit Discipline Operating Expenses (₹ mn) Cost-Income (%) & Cost / AAUM excl. CLO (%)* Cost excl. CLO/AAUM Cost-Income 3,377 3,084 64.3% 2,621 2,636 2,702 58.2% 1,094 54.8% 918 902 842 875 49.4% 5.7% 5.7% 46.5% 5.3% 5.2% 2,1
Slide 23: Profitability and Key Ratios
Profitability and Key Ratios PAT rises 143% YoY PAT (₹ mn) Earnings per Share and Book Value per Share (₹) 2,360 2.1 2.0 2.5 1.5 1.2 69.4 67.0 1,777 1,749 50.0 52.2 1,281 48.6 970 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Return on Avg. Assets (% annualized) Return on Avg
Slide 24: Robust Capital Position
Robust Capital Position Well Capitalized for Medium Term Growth Consolidated Networth (₹ mn) Capital Adequacy (%) 66,370 34.5% 64,380 32.9% 31.9% 29.3% 28.9% 26.9% 26.1% 23.7% 43,041 22.9% 22.8% 41,269 40,125 57,105 55,011 32,848 33,906 31,893 5,250 5,250 5,750 5,750 5,750 2,982 3,171 3,385 3,619 3,
Slide 25: Liability Mix
Liability Mix Increase led by Bank Borrowings Diversified Funding Profile (₹ mn) Consolidated Borrowings Break-up (₹ mn) 167,860 167,860 159,790 159,790 155,768 8,180 155,768 140,921 8,779 330 302 8,785 18,038 140,921 270 128,099 18,180 128,099 42,483 8,112 19,124 9,504 700 6,981 6,870 37,852 39,800
Slide 26: Asset-Liability Position
Asset-Liability Position ₹ crore except stated 9,000 9,000 7,194 7,678 8,000 7,788 8,000 6,800 7,086 7,000 7,000 6,664 6,259 6,208 6,000 6,000 6,070 5,000 5,000 4,000 3,706 4,000 3,222 3,000 3,000 1,942 2,301 1,706 2,131 1,735 1,841 2,000 1,604 2,000 940 969 1,000 1,000 566 - - upto 1 month >1-3 mon
Slide 27: Liquid Funds and Overnight funds
Liquid Funds and Overnight funds Comfortable Liquidity Position Particulars (₹ mn) (30th Sep 2025) CGCL (Standalone) CGHFL Consolidated Cash and Bank Balances 16,640 930 17,570 Investment in fixed deposits 552 552 Investment in Mutual Funds or corporate bonds 6,906 6,906 Undrawn Bank Lines 1,956 5,7
Slide 28: Segmental NPAs
Segmental NPAs Disciplined Underwriting Driving Sustained Improvement in Asset Quality MSME Housing Finance GNPA NNPA GNPA NNPA 4.1% 4.3% 3.9% 3.5% 3.0% 1.7% 1.7% 2.4% 1.4% 1.5% 1.5% 2.2% 2.0% 1.9% 1.1% 1.6% 1.0% 0.9% 0.9% 0.9% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Go
Slide 29: Asset Quality
Asset Quality Adequate Provisioning Coverage ₹ mn except stated ECL Analysis As Per IndAS Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 Stage 1 - Gross 202,607 189,118 1,75,797 156,044 147,388 Stage 1 - ECL Provisions 1,067 1,013 779 674 720 Stage 1 - Net 201,540 188,106 1,75,019 155,370 146,668 Stage 1 - ECL
Slide 30: Consolidated Income Statement
Consolidated Income Statement Quarterly Comparison ₹ mn except stated Particulars Q2FY26 Q2FY25 Y-o-Y (%) Q1FY26 Q-o-Q (%) H1FY26 H1FY25 YoY (%) Interest earned 8,854 6,156 43.8% 8,096 9.4% 16,950 11,880 42.7% Interest expended 4,059 3,110 30.5% 3,940 3.0% 7,998 5,825 37.3% Net interest income 4,795
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet Quarterly Comparison ₹ mn except stated Particulars Q2FY26 Q2FY25 YoY (%) Q1FY25 QoQ (%) Paid-up equity 962 825 16.6% 962 0.0% Reserves and surplus 65,769 39,300 67.4% 63,418 3.7% Total Equity 66,730 40,125 66.3% 64,380 3.7% Bank borrowings 158,356 125,992 25.7% 152,920 3.
Slide 32: Strategic Outlook
3 Strategic Outlook
Slide 33: Way Ahead: Strategic Initiatives to Drive Scale
Way Ahead: Strategic Initiatives to Drive Scale… Key initiatives Leverage Technology and Geographic Expansion and Diversify our Product Offerings Analytics for Operational Deepening our Presence Excellence • Offer customized products to address • Open new branches in existing and newer • Use Generat
Slide 34: … and Deliver Sustainable Returns
… and Deliver Sustainable Returns Levers for RoE expansion Margin High Quality Cost Efficiency Underwriting Cross Sell Expansion + Fee Income + + Efficiency + Opportunity Increase in Operating Leverage share of high Expansion of leverage from Reduction in customer base yield products; Car Loan exist
Slide 35: Board & Management
4 Board & Management
Slide 36: Strong Corporate Governance
Strong Corporate Governance Distinguished and Qualified Board Comprised Majorly of Independent Directors Lingam Venkata Subramanian Rajesh Sharma Ajit Mohan Sharan Desh Raj Dogra Nupur Mukherjee Shishir Priyadarshi Prabhakar Ranganathan Chairman & Managing Independent Independent Independent Indepen
Slide 37: Experienced and Stable Management Team (1/2)
Experienced and Stable Management Team (1/2) Proven Track Record of Scaling Businesses CORPORATE FUNCTIONS Monu Ratra Divya Sutar Kishore Lodha Director — Business Strategy Chief Financial Officer Chief Executive Officer Ex-IIFL Finance Housing GMP (Harvard Business School), Ex-UGRO Finance, Hinduja
Slide 38: Experienced and Stable Management Team (2/2)
Experienced and Stable Management Team (2/2) Proven Track Record of Scaling Businesses RETAIL BUSINESS RETAIL CONSTRUCTION FINANCE FEE BASED BUSINESS Ravish Gupta Vijay Kumar Gattani Rohit Chugh Chief Business Officer — Gold Director – Credit – CF Head - Insurance Ex-IIFL, GE Money, HDFC Bank, BCA E
Slide 39: ESG
5 ESG
Slide 40: Pillars of Our ESG
Pillars of Our ESG • Expanding financial access for • Strong governance foundation with Top • Environment Management System-like underserved communities, women, and Management-level ESG Steering processes for monitoring energy, water, first-time borrowers Committee chaired by the Managing waste, and
Slide 41: ESG Snapshot & Ratings for FY 2024/25
ESG Snapshot & Ratings for FY 2024/25 Environmental (E) Social (S) Governance (G) 23% Reduction of 15,519 Beneficiaries 100% DEI training for E-Waste Compared Reached Including senior management To FY2023-24 13,287 Women Name of the ESG Ratings Rating Provider ~500+Kg of waste 6 out of 7 Independent
Slide 42: Our SDG Compass
Our SDG Compass Partnerships for the Goals No Poverty Collaboration with rating agencies, NGOs, digital partners and Providing accessible credit to underserved communities and first-time government schemes for inclusive finance. borrowers, especially in rural India. Peace, Justice and Strong Institu
Slide 43: S&P Global Corporate Sustainability Assessment (CSA)
S&P Global Corporate Sustainability Assessment (CSA) CGCL achieved an impressive score of 49 in its maiden application, exceeding the industry average of 30 ❖ The S&P Global CSA - respected benchmark for ESG practices, assessing risks and opportunities Why This ❖ Capri Global's performance reflects
Slide 44: Corporate Social Responsibility
Corporate Social Responsibility • Strategic Vision: Deploying capital to uplift underserved communities through impactful, scalable interventions. • Proven Model: Need-based, multi-stakeholder approach with strong M&E governance, enabling replication and sustainability. • High Impact: Over 1 million
Slide 45: Corporate Governance Framework
Corporate Governance Framework Board of Directors Nomination & Board Credit Risk Remuneration Committee 6 Independent Board of Directors including one woman Director Information Asset Liability Audit Committee Security Committee COMMITTEES Separate Chairman and Managing Director Stakeholder ESG CSR
Slide 46: Shareholding
Shareholding ₹ 178bn ₹ 66.7bn ₹ 961.6mn ₹1 US$ 2.0bn2 Market capitalisation1 Cons. Net worth3 (Q2FY26) Paid-up Equity Face Value NOTES 14.93% 1. Market capitalization NSE on 30th Sep‘25. 2. 1 US$ = ₹ 88.79 Promoter Group 3. Not adjusted for DTAs. Institutional Shareholders 4. AMFI classifies CGCL as
Slide 47: Yearly Financial Performance
6 Yearly Financial Performance
Slide 48: AUM and Loan Growth
AUM and Loan Growth Consolidated AUM Up 51% CAGR FY22-25 AUM Break Up (₹ mn) Gross Loans Break Up (₹ mn) CAGR CAGR 228,602 185,178 51% 42% 2,042 2,039 41,329 48% 40,524 48% 136,744 156,540 3,138 3,152 52,019 38% 44% 25,775 45,181 26,213 96,527 103,205 3,404 38,458 3,412 42,091 17,943 64,415 18,301 8
Slide 49: Co-lending
Co-lending Additional Funding Source & High RoE Accretion CGCL retains 20-30% CGCL earns spread and Additional source of 1 while co-lending partners (CLPs) retain 2 loan servicing fee on the co-lending loans 3 funds while conserving capital and boost RoE 4 Diversification of borrowings the balance C
Slide 50: Financial Highlights
Financial Highlights High share of non-interest income Net Interest Income (₹ mn) Non-Interest Income^ (₹ mn) 13,320 30.0% 27.9% 27.3% 19.5% 5,009 9,857 3,821 48% 2,720 6,361 45% 5,087 1,231 36% 20% 27% 33% 64% 14% 22% 43% 28 % 19% FY22 FY23 FY24 FY25 Total Other Non-interest Income FY22 FY23 FY24 F
Slide 51: Financial Highlights
Financial Highlights Improving Return Metrics Operating Profit (₹ mn) Credit Costs* (₹ mn) 7,341 1,057 1,008 913 4,569 3,783 1.6% 642 3,325 4.1% 0.7% 0.6% 3.5% 3.4% 5.8% 0.7% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Operating Profit as a % of Avg. Total Assets Credit Cost As a % of Avg. Total Assets
Slide 52: Prudent Risk Management
Prudent Risk Management Healthy Asset Quality and Adequate Provisioning NPA (%) PCR (%) 2.4 45.2 41.7 1.9 1.7 1.7 1.5 30.5 30.9 1.2 1.1 0.9 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross Net Healthy Asset Quality (GNPA/NNPA/PCR) 3.9% / 2.0% / 49.1% 1.4% / 0.9% / 36.8% 0.8% / 0.7% / 15.7% 0.2% / 0.1%
Slide 53: Segmental NPAs
Segmental NPAs MSME Loan Housing Finance GNPA NNPA GNPA NNPA 4.0% 3.9% 3.9% 3.4% 1.5% 2.9% 1.3% 1.4% 2.5% 1.1% 1.2% 2.1% 2.0% 0.9% 0.8% 0.8% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gold Loan Construction Finance GNPA NNPA GNPA NNPA 1.0% 0.9% 0.8% 0.8% 0.7% 0.3% 0.2% 0.2% 0.1% 0.1% 0.1% NA NA 0.0% 0.
Slide 54: Asset Quality
Asset Quality Maintained Adequate PCR ₹ mn except stated ECL Analysis As Per IndAS FY22 FY23 FY24 FY25 Stage 1 & 2 - Gross 63,627 96,028 135,567 184,917 Stage 1 & 2 - ECL Provisions 1,231 1,268 1,364 1,481 Stage 1 & 2 - Net 62,396 94,760 134,202 183,436 Stage 1 & 2 - ECL Provisions % 1.93% 1.32% 1.0
Slide 55: Consolidated Income Statement
Consolidated Income Statement All figures in ₹ mn except stated otherwise Profit and Loss A/c FY21 FY22 FY23 FY24 FY25 FY21-25 CAGR Interest income 6,735 8,396 11,678 18,229 26,055 Interest expenses 2,887 3,308 5,317 8,372 12,736 Net interest income 3,848 5,087 6,361 9,857 13,320 36.4% Other income
Slide 56: Consolidated Balance Sheet
Consolidated Balance Sheet All figures in ₹ mn except stated otherwise Balance Sheet FY21 FY22 FY23 FY24 FY25 FY21-25 CAGR Liabilities Paid-up equity 351 351 412 825 825 Reserves 16,822 18,873 35,242 37,541 42,216 Networth 17,173 19,225 35,655 38,366 43,041 25.8% Borrowings 37,689 48,084 75,113 104,
Slide 57: Du Pont Analysis
Du Pont Analysis RoAA Tree (%) FY21 FY22 FY23 FY24 FY25 Interest income 13.1 13.0 12.3 13.5 14.5 Interest expenses 5.6 5.1 5.6 6.2 7.1 Net interest income 7.5 7.8 6.7 7.3 7.4 Other Income 1.2 1.9 2.9 2.8 2.8 Net Car Loan Fee - 0.4 1.2 0.8 0.5 Co-lending Income - 0.3 0.6 0.8 0.9 Other income 1.2 1.2
Slide 58: Annexure
7 Annexure
Slide 59: Retail Secured Lending Has Massive Under Penetration
Retail Secured Lending Has Massive Under Penetration Capri Global is a Retail Focused Secured Lender – >80% Retail and 100% Secured Book Retail credit to grow on a faster pace compared to overall credit MSME Loan remains underpenetrated with significant credit gap Retail1 Overall Credit Demand: (% o
Slide 60: NBFCs Well Positioned to Address the Credit Gap and Grow Strongly
NBFCs Well Positioned to Address the Credit Gap and Grow Strongly Unique Proposition to cater to the “Aspiring” and T2/T3 segment Rural Reach – Access to geographies outside Understanding of Micro Markets – Nuances of the ambit of Bank’s customer segment the geography & services business High Touch
Slide 61: Significant Growth Opportunity in the Focus Segments
Significant Growth Opportunity in the Focus Segments Capri Global is focussing on providing loans in high growth segments to underbanked & underserved customers Industry MSME Loan Industry Housing Loan NBFC Share: 24% HFC Share: 20% Capri Market Share: <0.5% Capri Market Share: 0.5% 58 - 60 49.9 35
Slide 62: Building the Brand Capri Loans
Building the Brand Capri Loans #TarrakiKeHaath We launched our latest Brand campaign with Pankaj Tripathi to create strong awareness and recall for the brand and establish its position as a brand that is focused on making a difference on the ground while being inclusive. Campaign is being promoted
Slide 63: Awards
Awards "Best Brands – 2024" award at the ET Now Best "Best BFSI Brands” by the Economic Times in 2021 Most promising Leader of Asia in 2020 - 21 Brands Conclave 2024 Company of the Year (2018) – Zee Business Dare to dream award The Economics Times – Best BFSI Brands 2019 India’s Most Inspirational L
Slide 64: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Capri Global Capital Limited (the “Company”), have been prepared solely for information purposes only and does not constitute any offer or invitation, directly or indirectly, in any manner, or
Slide 65: For Further information, please contact
For Further information, please contact : Hardik Doshi Rajat Gupta hardik.doshi@capriglobal.in rajat@goindiaadvisors.com O: +91 81083 45011 M: +91 99718 97739
Capri Global Capital — Q2 FY2026 Earnings Presentation on 6ix