SPANDANA
Spandana Sphoorty Financial share price & financials
- Price
- ₹254.7
- Market cap
- ₹2.1k Cr
- Sector
- Financial Services
- Calls analysed
- 6
Spandana Sphoorty Financial Limited Q1 FY27
What went well
- AUM grew 11% quarter-on-quarter to ₹4,887 crores.
- PAT was ₹12 crores, a significant improvement from ₹5 crores in the March '26 quarter.
- Net Interest Margin (NIM) improved to 12.5% compared to 9.9% in the previous quarter.
What Spandana Sphoorty Financial Limited does
Spandana Sphoorty Financial is a Hyderabad-based non-banking microfinance institution (NBFC-MFI) that extends small, unsecured Joint Liability Group (JLG) loans to women entrepreneurs in rural and semi-urban India, delivered door-step through a network of branches with weekly or monthly collection cycles. Through its subsidiary Criss Financial Limited, it also underwrites secured and individual credit products — Loan Against Property, Nano Enterprise Loans and Individual Loans — for small self-employed borrowers, diversifying beyond the core JLG microfinance book. It earns by originating and servicing this loan book directly through its own field force and recovery teams rather than via third-party correspondents.
Segments
- Microfinance (JLG)
- Non-MFI / secured lending (Criss Financial Limited)
- Branch network
- 1,457 branches (Mar 2026)
- Active customer base
- ~12 lakh (1.2 million) borrowers (Mar 2026)
- Geographic presence
- 20 states and Union Territories
- Branch mix by collection model
- 948 monthly-collection, 160 weekly-collection and 349 CFL (secured/non-MFI) branches
- Dedicated recovery associates
- 1,129 (Mar 2026)
- Secured-lending subsidiary
- Criss Financial Limited (CFL)
Guidance record · Q1 FY27
what the last two calls moved 36 tracked 8 delivered 7 missed 21 open- X-bucket Collection Efficiency delivered said Q4 FY26 Promised: It has to be 99.5%... So, 99.5% is what we would like to maintain going forward. Q1 FY27: The company reported X-bucket collection efficiency of exactly 99.5% in Q1 FY27, meeting the target.
- Subsidiary Merger went quiet said Q3 FY26 Promised: merge our subsidiary, which is the Criss Financial... might take about 6 to 9 months, but hopefully that should get completed within the coming financial year. Q1 FY27: No update was provided on the merger progress during the Q1 FY27 earnings call.
- NPA Recovery Rate at risk said Q3 FY26 Promised: So, we are aiming for anywhere between Rs. 20 crores to Rs. 25 crores a month. Q1 FY27: Collected ₹51 crores in Q1 (avg. ₹17 cr/month), below the target range. Management acknowledged that achieving ₹20 cr/month 'looks a little tough'.
All 36 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 5.3%, net profit up 103.3% 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 | 682 | 552 | 415 | 300 | 230 −66% | 234 −58% | 260 −37% | 284 −5% |
| Net profit | -216 | -440 | -434 | -360 | -249 −15% | -95 +78% | 5 +101% | 12 +103% |
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 −11.9% 1Y
1Y: ₹267.21 on 10 Sept 2025 → ₹235.37. High ₹310.55 (6 Jul 2026), low ₹184.15 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −10.5%
- 24 Jul
- Q4 FY26
- +11.1%
- 5 May
- Q3 FY26
- −0.4%
- 27 Jan
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 fell 8.8% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.4k Cr | ₹2.4k Cr | ₹2.4k Cr | ₹1.0k Cr |
| Interest | ₹447 Cr | ₹927 Cr | ₹931 Cr | ₹509 Cr |
| Depreciation | ₹11 Cr | ₹21 Cr | ₹22 Cr | ₹16 Cr |
| Net profit | ₹2 Cr | ₹500 Cr | ₹-1.0k Cr | ₹-699 Cr |
| Net margin | 0.1% | 20.6% | -43.8% | -68.3% |
| Cash from operations | ₹-2.2k Cr | ₹-2.7k Cr | ₹3.7k Cr | ₹882 Cr |
| Free cash flow | ₹-2.2k Cr | ₹-2.7k Cr | ₹3.7k Cr | ₹880 Cr |
| ROE | 0.0% | 15.0% | -33.0% | -29.0% |
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 | ₹64 Cr | ₹69 Cr | ₹71 Cr | ₹71 Cr | ₹80 Cr | ₹80 Cr |
| Reserves | ₹2.7k Cr | ₹3.0k Cr | ₹3.0k Cr | ₹3.6k Cr | ₹2.2k Cr | ₹2.0k Cr |
| Borrowings | ₹5.4k Cr | ₹3.8k Cr | ₹6.1k Cr | ₹9.4k Cr | — | ₹3.9k Cr |
| Other liabilities | ₹455 Cr | ₹217 Cr | ₹209 Cr | ₹313 Cr | ₹150 Cr | ₹174 Cr |
| Total liabilities | ₹8.6k Cr | ₹7.1k Cr | ₹9.4k Cr | ₹13.4k Cr | ₹5.5k Cr | ₹6.2k Cr |
| Fixed assets | ₹38 Cr | ₹31 Cr | ₹47 Cr | ₹52 Cr | ₹21 Cr | ₹39 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹2 Cr | ₹189 Cr | ₹112 Cr | ₹353 Cr | ₹114 Cr |
| Other assets | ₹8.5k Cr | ₹7.0k Cr | ₹9.1k Cr | ₹13.2k Cr | ₹5.1k Cr | ₹6.1k Cr |
| Total assets | ₹8.6k Cr | ₹7.1k Cr | ₹9.4k Cr | ₹13.4k Cr | ₹5.5k Cr | ₹6.2k 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.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Spandana Sphoorty Financial Limited
Guides on how to read this kind of business and the numbers that matter.