DCCL
Dar Credit & Capital financials
- Market cap
- ₹59 Cr
- Sector
- Financial Services
- Calls analysed
- 4
DCCL Q4 FY26
What went well
- Total income for FY26 recorded as Rs. 50.05 crore against Rs. 41.39 crore in FY25, reflecting a growth of 20.9% on year-on-year basis.
- EBITDA for FY26 increased to Rs. 34.69 crores from Rs. 29.26 crores in FY25, registering a growth of 18.6%.
- Profit after tax for FY26 stood at Rs. 10.13 crore as against Rs. 7.04 crores in FY25, reflecting a strong growth of 43.9%.
What Dar Credit & Capital Limited does
Dar Credit & Capital Limited (DCCL) is a non-deposit-taking, base-layer NBFC registered with the RBI, incorporated in 1994. It lends to underbanked customers: personal loans to municipal corporation employees such as cleaners, sweepers and peons, and secured/unsecured MSME loans to small shopkeepers, vendors and women entrepreneurs. The company operates through branch offices in West Bengal, Rajasthan, Bihar and Jharkhand, and camp offices in Madhya Pradesh and Gujarat, funding its book through borrowings from banks and NBFCs and a business-correspondent tie-up with ESAF Small Finance Bank. It also holds a managed loan portfolio alongside its own book, and runs its loan origination and management on in-house ('Vijay') and third-party (RISEMONEY) software platforms.
Segments
- Personal Loans to Municipal Corporation Employees
- Unsecured MSME Loans
- Secured MSME Loans
- Managed Loan Book
- Branches
- 35 branches and camps across 68 districts in 6 states
- States of operation
- 6 (West Bengal, Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Gujarat)
- Active customers
- 22,553
- Employees
- 260+
- Total loan assets (own + managed)
- ₹294.47 Cr as of March 2026
- Own loan portfolio
- ₹229.54 Cr as of March 2026
Guidance record · Q4 FY26
what the last two calls moved 11 tracked 1 delivered 3 missed 7 open- Cost of Funds delivered said Q4 FY25 Promised: at least 1% down from 14-15.5% Q4 FY26: Cost of funds reported at 'around 14%', which is a deterioration from Q3 but still meets the original target of being at least 1% down from the 14-15.5% baseline.
- AUM missed said Q4 FY25 Promised: minimum INR 300 crores by March 2026 Q4 FY26: Achieved INR 229.55 crores, just below the twice-revised target of INR 230-235 crores.
- AUM revised down said Q3 FY26 Promised: cross INR 300 crores plus Q4 FY26: FY27 AUM target revised down to 'around 270-280 crores', a significant reduction from the initial 'cross INR 300 crores plus' guidance.
All 11 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 20.9%, net profit up 0.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10 | 10 | 10 | 11 | 12 +15% | 13 +25% | 14 +42% | 13 +21% |
| Net profit | 2 | 2 | 2 | 2 | 3 +48% | 3 +40% | 3 +67% | 2 +0% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.0% 1Y
1Y: ₹55.5 on 10 Sept 2025 → ₹41.05. High ₹57.5 (6 Nov 2025), low ₹33.7 (19 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −1.8%
- 27 May
- Q3 FY26
- +2.4%
- 17 Feb
- Q2 FY26
- +0.1%
- 14 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 23.9% a year over 1 year, FY25 to FY26.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹40 Cr | ₹50 Cr |
| Interest | ₹20 Cr | ₹21 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr |
| Net profit | ₹7 Cr | ₹10 Cr |
| Net margin | 17.4% | 20.5% |
| Cash from operations | ₹27 Cr | ₹-29 Cr |
| Free cash flow | ₹27 Cr | ₹-30 Cr |
| ROE | 9.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹51 Cr | ₹52 Cr | ₹54 Cr | ₹57 Cr | ₹86 Cr | ₹90 Cr |
| Borrowings | ₹119 Cr | ₹107 Cr | ₹122 Cr | ₹167 Cr | — | ₹184 Cr |
| Other liabilities | ₹2 Cr | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹6 Cr |
| Total liabilities | ₹182 Cr | ₹170 Cr | ₹189 Cr | ₹237 Cr | ₹257 Cr | ₹294 Cr |
| Fixed assets | ₹0 Cr | ₹9 Cr | ₹9 Cr | ₹8 Cr | ₹7 Cr | ₹7 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹9 Cr | ₹17 Cr | ₹6 Cr | ₹7 Cr | ₹1 Cr | ₹0 Cr |
| Other assets | ₹173 Cr | ₹145 Cr | ₹174 Cr | ₹222 Cr | ₹248 Cr | ₹287 Cr |
| Total assets | ₹182 Cr | ₹170 Cr | ₹189 Cr | ₹237 Cr | ₹257 Cr | ₹294 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since May 2025, the public added +4.67 pp while FIIs trimmed −3.71 pp. The shareholder count shrank 47% to 518.
- Promoters
- 69.1%
- DIIs
- 6.7%
- Public
- 24.2%
Since May 2025
- Public +4.67 pp
- FIIs −3.71 pp
- DIIs −1.11 pp
How it drifted, 5 quarters
Over this window the public went from 19.5% to 24.2% — +4.7 pp.
Ownership split by quarter, oldest first. May '25: Promoters 69.0%, FIIs 3.7%, DIIs 7.8%, Public 19.5%.Sep '25: Promoters 69.1%, DIIs 7.7%, Public 23.1%.Dec '25: Promoters 69.1%, DIIs 6.6%, Public 24.3%.Mar '26: Promoters 69.1%, DIIs 6.8%, Public 24.1%.Jun '26: Promoters 69.1%, DIIs 6.7%, Public 24.2%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Dar Credit & Capital Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ramesh Kumar Vijay | 15.91% | unchanged |
| Rakshita Vijay | 7.34% | unchanged |
| Karan Vijay | 6.90% | unchanged |
| Ramesh Kumar Vijay (Rr Family Trust) | 6.54% | unchanged |
| Ramesh Kumar Vijay And Others Huf | 6.17% | unchanged |
| Nikita Vijay | 6.09% | unchanged |
| Tanvee Vijay | 6.08% | unchanged |
| Ramesh Kumar Vijay (Primerose Foundation) | 5.81% | unchanged |
| Smc Global Securities Limited | 3.84% | unchanged |
| Kamla Gandhi | 3.27% | unchanged |
| Nine Alps Trust-Nine Alps Opportunity Fund AIF | 2.61% | unchanged |
| Swyom India Alpha Fund . AIF | 2.48% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse Dar Credit & Capital Limited
Guides on how to read this kind of business and the numbers that matter.