Sammaan Capital Limited (formerly known as Indiabulls Housing Finance Limited) has successfully completed the full redemption of its Unsecured Redeemable Non-Convertible Subordinated Debt (NCDs) worth ₹1,650 crore, showcasing the company's robust financial position and commitment to meeting its debt obligations.

Timely Redemption and Interest Payment

The company paid ₹165.00 crore in interest and fully redeemed the principal amount on maturity. The interest payment was made on August 1, with a record date of July 30, against a due date of August 3. The redemption was also completed ahead of schedule on August 1, leaving zero outstanding amount.

Details of the NCD

The redeemed NCDs, with ISIN INE148I08207, were issued on a private placement basis with a yearly interest frequency. This successful redemption demonstrates Sammaan Capital's ability to manage its debt effectively and maintain investor confidence.

Financial Implications

The timely redemption of such a significant amount indicates Sammaan Capital's strong cash flow management and liquidity position. It also reflects positively on the company's credit profile, potentially benefiting future fundraising efforts.

Additional Financial Activities

In addition to the NCD redemption, Sammaan Capital also made timely interest payments on its other debt instruments. The company paid interest on Secured Redeemable Non-Convertible Debentures issued through public offerings, further reinforcing its commitment to meeting financial obligations.

Corporate Developments

Sammaan Capital has also been active in corporate restructuring. The company is currently involved in a scheme of arrangement for the amalgamation of several group companies, including Sammaan Collection Agency Limited, Sammaan Sales Limited, and others, into Sammaan Capital Limited. This move is aimed at streamlining operations and potentially improving overall efficiency.

Conclusion

The successful redemption of the ₹1,650 crore NCDs, along with timely interest payments on other debt instruments, underscores Sammaan Capital's financial stability and commitment to its investors. As the company continues to navigate the dynamic financial services landscape, these actions are likely to bolster investor confidence and support its growth strategies.

Sammaan Capital , a prominent financial services company, has reported an increase in its Non-Performing Assets (NPAs) for the fourth quarter, alongside a mixed set of financial results. The company's latest financial data reveals both challenges and resilience in its operations.

Rising NPAs

The company's Gross Non-Performing Assets (GNPA) rose to 1.83% in the fourth quarter, up from 1.14% in the previous quarter. Similarly, the Net Non-Performing Assets (NNPA) increased to 1.10% from 0.66% quarter-on-quarter. This uptick in NPAs suggests a potential increase in credit risk and may require closer monitoring of the company's loan portfolio quality.

Q4 Financial Performance

Despite the increase in NPAs, Sammaan Capital's fourth-quarter results show some positive trends:

• Revenue: The company reported a revenue of ₹1,905.30 crore for the quarter.
• Net Profit: Net profit stood at ₹281.90 crore, marking a significant increase of 155.11% compared to the previous quarter's ₹110.50 crore.
• Operating Profit: The operating profit for Q4 was ₹1,512.30 crore, up by 17.31% from the previous quarter.
• Operating Profit Margin (OPM): The OPM improved to 79.49%, showing a substantial increase from 62.40% in the previous quarter.

Quarterly Financial Highlights

Annual Performance Overview

For the financial year, Sammaan Capital reported:

• Annual Revenue: ₹8,624.80 crore, a slight decrease of 1.16% from the previous year.
• Net Profit: ₹1,217.00 crore, showing a 7.92% increase year-over-year.
• EBITDA: ₹7,040.10 crore, down by 3.90% compared to the previous year.

The company's annual performance demonstrates its ability to maintain profitability despite challenging market conditions and the increase in NPAs.

Conclusion

While Sammaan Capital faces challenges with rising NPAs, its quarterly financial results show resilience with improved profitability and operating margins. The company's ability to significantly boost its net profit quarter-on-quarter is noteworthy. However, the increase in NPAs will likely be an area of focus for management and investors in the coming quarters as they assess the overall health of the company's loan book and risk management strategies.