Shares of Sammaan Capital Ltd shares rallied 12 per cent in Thursday's trade, despite reporting Rs 8,101.41 crore in March quarter net loss, after the company gave updates on dividend payout policy, FY27 guidance and margin & return trajectory. The Q4FY26 earnings call painted a highly optimistic outlook for Sammaan Capital, marking a definitive pivot from a period of consolidation to a renewed growth phase, said Arihant Capital Markets, which attended the conference call (concall). 

Arihant said  the successful completion of a $1 billion strategic investment by IHC has fundamentally transformed Sammaan Capital's balance sheet, resulting in immediate AA+ rating upgrades across all domestic rating agencies. 

"The focus now shifts toward aggressive but risk-calibrated asset growth, leveraging an asset-light distribution model, a significantly reduced cost of funds, and aggressive AI-driven technological integration to drive operational leverage and scale," it said.

Sammaan Capital shares rallied 11.84 per cent to hit a high of Rs 158.60 on BSE. 

Sammaan Capital FY27 guidance

Among the forward-looking statements, Arihant said the company is looking at Rs 30,000 crore disbursals in FY27, targeting a Profit After Tax (PAT) of Rs 1,400 crore for the fiscal year. In the case of margin and return trajectory, starting with a NIM of 3.5 per cent, Sammaan Capital set a longer-term trajectory target of 8 per cent. 

"ROA is guided to double year-over-year to 1.8 per cent in FY27, reaching a steady-state best-in-class 4.4 per cent by FY30, Arihant noted.

Sammaan Capital dividend payout policy

As far as shareholder value is concerned, Arihant Capital Markets noted that Sammaan Capital said dividend payouts will resume with a base policy of 25 per cent, targeting a 40 per cent distribution rate. Book value per share is guided to expand past Rs 200 from the current Rs 160 level, Arihant said.

What CEO & MD Gagan Banga says
Banga said Sammaan Capital has entered a defining new chapter. With IHC Group as the company's promoter, he said Sammaan Capital is no longer just a well-capitalised lender. "We are an institution built for scale," he said.

"Our growth story will now be accelerated by the rapid adoption of technology and AI, using them as the cornerstone of our customer acquisition strategy across multiple product offerings, making us a full-suite NBFC underpinned by robust governance and risk management," he said.