CSL Finance Limited (CSLFINANCE)
₹212.35 -0.68% last close, 23 Oct
Q2 FY27 results
📅 Next results: 02 Nov 2026 (board meeting)CSL Finance Limited's board meets on 2 Nov 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, CSL Finance's net interest income was ₹46.3 Cr (+12.9% year on year, +0.6% on the previous quarter), and net profit ₹22.1 Cr (+5.5% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹46.3 | +12.9% | +0.6% |
| Operating profit | ₹29.7 | — | — |
| Net profit | ₹22.1 | +5.5% | +16.6% |
| EPS (₹) | 9.72 | +3.8% | +14.1% |
CSLFINANCE delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 74.54% of the CSLFINANCE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 58.95%. That is higher than usual for this stock. Turnover was only ₹30 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 25.4% · 67.9% · 78.8% · 59.7% · 74.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
CSL Finance has scheduled its Q2 & H1 FY27 earnings conference call for Tuesday, November 3, 2026, at 4:00 PM IST. The management team, including the Managing Director, CFO, and Credit Head, will discuss the company's financial performance. In the prior quarter (Q1 FY27 / Jun 2026), CSL Finance reported revenue of Rs 70.35 Cr and net profit of Rs 22.15 Cr. The call will offer updates on retail SME expansion and real estate wholesale loan quality.
- Earnings conference call scheduled for Tuesday, November 3, 2026, at 4:00 PM IST
- Call to cover Q2 & H1 FY27 performance
- Management participants include Managing Director Rohit Gupta and CFO Naresh Chandra Varshney
- Prior quarter Jun 2026 delivered revenue of Rs 70.35 Cr and PAT of Rs 22.15 Cr
CSL Finance Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter and half-year ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MAS Services Limited confirms that dematerialisation requests received between July 1, 2026, and September 30, 2026, were processed within the mandated 15-day timeframe. The document confirms that physical certificates were mutilated, cancelled, and member registers updated accordingly. This is a regular administrative disclosure with no financial impact.
- Covers the quarter and half-year period from 01/07/2026 to 30/09/2026
- Confirmation of demat requests processed within the required 15-day window
- Issued by Registrar and Share Transfer Agent MAS Services Limited on October 06, 2026
CSL Finance reported a 24% YoY growth in its on-book portfolio to ₹1,596 crore for the quarter ended September 30, 2026, compared to ₹1,292 crore a year earlier. During the quarter, fresh disbursements reached ₹384 crore against collections of ₹321 crore, supported by ₹285.50 crore in fresh sanctions from 11 lenders. The company also secured a ₹100 crore co-lending sanction from SIDBI for the SME segment. Capital adequacy remained strong at approximately 41% with a liquidity surplus of ₹277 crore.
- On-book loan portfolio expanded ~24% YoY to ₹1,596 crore vs ₹1,292 crore in September 2025
- Disbursements totaled ~₹384 crore against collections of ~₹321 crore during the quarter
- Received ₹285.50 crore in fresh sanctions from 11 lenders, plus ₹100 crore co-lending sanction from SIDBI
- Capital Adequacy Ratio remained robust at ~41% with liquidity surplus of ~₹277 crore
CSL Capital Private Limited, a promoter group entity of CSL Finance Limited, has disclosed an intention to acquire 2,65,686 equity shares (1.17% of total equity) via an inter-se transfer. The shares will be acquired from Rohit Gupta HUF, which is also part of the promoter group. CSL Capital currently holds 68,30,927 shares in the target company. The transaction is proposed to take place on or after October 6, 2026, under Regulation 10(1)(a)(ii) of SEBI SAST Regulations.
- Inter-se promoter transfer involving 2,65,686 equity shares (1.17% of total equity)
- Acquiring entity CSL Capital Private Limited currently holds 68,30,927 equity shares
- Shares are being transferred from Rohit Gupta HUF (promoter group)
- Proposed execution date is on or after October 6, 2026
CSL Finance Limited has informed the exchanges that shareholders at the 34th Annual General Meeting approved the re-appointment of Mr. Rohit Gupta as Managing Director. The new tenure is for a period of five years spanning from August 10, 2027, to August 09, 2032. Mr. Rohit Gupta is the prime driving force behind CSL's structured lending and SME lending foray, and is related to Whole Time Director Ms. Rachita Gupta as father and daughter. The decision ensures continuity in top leadership for the Rs 496 Cr market cap company, which reported TTM net profit of Rs 86 Cr.
- Re-appointment of Mr. Rohit Gupta as Managing Director approved for a 5-year tenure
- Term is effective well in advance, spanning from August 10, 2027 to August 09, 2032
- Approved by shareholders at the 34th Annual General Meeting of the company
- Disclosure notes related party connection: Mr. Rohit Gupta (MD) is the father of Ms. Rachita Gupta (Whole Time Director)
CSL Finance Limited announced that shareholders approved an amendment to its Articles of Association (AOA) via a special resolution passed at the 34th Annual General Meeting held on September 19, 2026. The amendment inserts Article 107A, enabling debenture trustees to nominate a director to the Board under SEBI regulations upon a default. The nominee director will vacate office once the specified default is resolved. This is a standard regulatory alignment mandated under SEBI Debenture Trustees and NCS regulations.
- Shareholders approved amendment to Articles of Association at the 34th AGM held on September 19, 2026
- Inserted Article 107A providing debenture trustees right to appoint a nominee director upon default
- Complies with Regulation 15(1)(e) of SEBI (Debenture Trustees) Regulations, 1993 and NCS Regulations, 2021
- Nominee director must vacate office immediately once any relevant default is rectified by the company
CSL Finance Limited held its 34th Annual General Meeting on September 19, 2026, with 125 members attending via video conferencing. The meeting covered six key agenda items, including adoption of FY26 financial statements, dividend declaration for FY26, and the re-appointment of Managing Director Rohit Gupta. Shareholders also voted on an AoA alteration regarding Debenture Trustee nominee directors and material related-party transactions with CSL Capital Private Limited. Scrutinizer e-voting results are scheduled to be announced on or before September 22, 2026.
- 34th AGM conducted via video conference with 125 members present
- Shareholder voting conducted on 6 agenda items including FY26 dividend declaration
- Re-appointment of Rohit Gupta as Managing Director tabled for approval
- Material related-party transactions with CSL Capital Private Limited tabled as an ordinary resolution
- Final e-voting results to be declared on or before September 22, 2026
CSL Finance Limited has fixed September 12, 2026, as the record date for determining shareholder entitlement to a final dividend of ₹10.00 per equity share (100% on ₹10 face value) for FY26. At the current share price of ₹228.10, this payout translates to a dividend yield of approximately 4.38%. The 34th Annual General Meeting (AGM) to approve the dividend is scheduled for September 19, 2026. The AGM agenda also includes the re-appointment of Managing Director Rohit Gupta for a 5-year term at ₹84 lakh annual remuneration and approval of material related-party transactions.
- Final dividend of ₹10.00 per share (100% of face value) recommended for FY26
- Record date established as September 12, 2026
- 34th AGM scheduled for Saturday, September 19, 2026
- Proposed 5-year re-appointment of MD Rohit Gupta (Aug 2027 to Aug 2032) at ₹84 lakh per annum
- Special resolution proposed to alter AoA for Debenture Trustee nominee director rights
CSL Finance has issued the notice convening its 34th Annual General Meeting (AGM) on September 19, 2026. The company has fixed September 12, 2026, as the record date for determining eligibility for the recommended final dividend of ₹10 per equity share (100% of ₹10 face value) for FY26. Key special business items at the AGM include the re-appointment of Managing Director Rohit Gupta for a 5-year term from August 2027 to August 2032 at a remuneration of up to ₹84 lakh per annum, approval of material related-party transactions with CSL Capital Private Limited, and an amendment to the Articles of Association allowing debenture trustees to appoint nominee directors.
- Final dividend of ₹10.00 per equity share (100% on face value ₹10) for FY26
- Record date fixed as Saturday, September 12, 2026 for dividend entitlement
- 34th AGM scheduled for Saturday, September 19, 2026 at 12:30 PM IST via VC/OAVM
- Re-appointment of MD Rohit Gupta for 5 years (Aug 10, 2027 to Aug 09, 2032) at up to ₹84 lakh p.a.
- Proposed AoA alteration (Article 107A) for Debenture Trustee nominee director appointment
CSL Finance reported a 16% YoY growth in Assets Under Management (AUM) to ₹1,505 Cr for Q1 FY27, primarily driven by the Wholesale segment. While SME Retail disbursements remained muted due to internal credit policy tightening, overall PAT grew 14% sequentially to ₹22.1 Cr. Asset quality improved with Gross NPA declining 15 bps QoQ to 0.95%, supported by a consistent 98% collection efficiency. The company maintains a conservative leverage of 1.39x and has ₹179.5 Cr in available liquidity (including undrawn facilities).
- Total AUM reached ₹1,505 Cr, a 16% YoY increase from ₹1,299 Cr in Q1FY26.
- Gross NPA improved to 0.95% from 1.10% in the previous quarter (Q4FY26).
- Net Interest Income (NII) grew 12% YoY to ₹45.0 Cr, though it dipped 1% sequentially.
- Collection efficiency remained robust and consistent at 98% for the fifth consecutive quarter.
- Wholesale segment now dominates the AUM mix at 70%, up from 69% a year ago.
CSL Finance reported a 17.7% YoY increase in total revenue to ₹69.97 Cr for Q1 FY27, driven by higher interest income. However, Net Profit grew more modestly by 3.9% YoY to ₹22.15 Cr, primarily due to a 29.9% surge in finance costs to ₹23.69 Cr. The Board also approved the re-appointment of Managing Director Rohit Gupta for a five-year term starting August 2027 and amended the Articles of Association to allow Debenture Trustees to appoint a nominee director in case of default, per SEBI norms.
- Total Revenue from operations rose to ₹69.97 Cr in Q1 FY27 from ₹59.45 Cr in Q1 FY26.
- Net Profit for the quarter stood at ₹22.15 Cr, a marginal increase from ₹21.32 Cr in the previous year's corresponding quarter.
- Finance costs increased significantly to ₹23.69 Cr from ₹18.24 Cr YoY, reflecting higher borrowing expenses.
- Basic EPS for the quarter improved to ₹9.72 from ₹9.36 in Q1 FY26.
- MD Rohit Gupta re-appointed for a 5-year term effective from August 10, 2027, to August 09, 2032.
CSL Finance reported a total income of ₹70.35 Cr for Q1 FY27, an 18% increase compared to ₹59.59 Cr in Q1 FY26. However, Profit After Tax (PAT) grew more modestly by 3.9% YoY to ₹22.15 Cr, primarily due to a 29.9% surge in finance costs which reached ₹23.69 Cr. The Board has approved the re-appointment of Mr. Rohit Gupta as Managing Director for a five-year term effective from August 2027. Additionally, the company amended its Articles of Association to allow Debenture Trustees to appoint a nominee director in case of default, aligning with SEBI regulations.
- Total Income grew 18% YoY to ₹70.35 Cr for the quarter ended June 30, 2026.
- Net Profit (PAT) increased by 3.9% YoY to ₹22.15 Cr from ₹21.32 Cr.
- Finance costs rose significantly by 29.9% YoY to ₹23.69 Cr, impacting bottom-line margins.
- Managing Director Rohit Gupta re-appointed for a 5-year term from August 10, 2027, to August 09, 2032.
- Impairment on financial instruments (provisions) increased to ₹2.83 Cr from ₹2.43 Cr YoY.
CSL Finance reported a steady Q1 FY27 with total income rising 18% YoY to ₹70.35 Cr. Net profit grew more modestly by 3.9% YoY to ₹22.15 Cr, as profitability was tempered by a 29.9% surge in finance costs (₹23.69 Cr). The board has approved the re-appointment of Mr. Rohit Gupta as Managing Director for a five-year term starting August 2027, ensuring leadership continuity. Additionally, the company amended its Articles of Association to allow for nominee directors by debenture trustees in case of default, aligning with SEBI regulations.
- Total Income increased 18% YoY to ₹70.35 Cr for the quarter ended June 30, 2026.
- Net Profit (PAT) stood at ₹22.15 Cr, representing a 3.9% growth over the ₹21.32 Cr reported in Q1 FY26.
- Finance costs rose significantly to ₹23.69 Cr from ₹18.24 Cr in the previous year's corresponding quarter.
- Earnings Per Share (EPS) for the quarter was ₹9.72, up from ₹9.36 YoY.
- MD Rohit Gupta re-appointed for a 5-year term effective from August 10, 2027, to August 09, 2032.
Mr. Atul Kumar Agrawal, President - Finance & Treasury, has withdrawn his resignation originally submitted on July 03, 2026. He was previously scheduled to leave the company on August 31, 2026, but will now continue in his current role. This provides stability to the finance and treasury functions for the NBFC, which manages an AUM of Rs 1,397 Cr. Continuity is particularly relevant as the company aims to grow its SME retail loan book to a target of Rs 800 Cr - Rs 850 Cr.
- Withdrawal of resignation confirmed via letter dated August 11, 2026
- Original resignation was submitted on July 03, 2026, with an effective date of August 31, 2026
- Mr. Agrawal will continue as President - Finance & Treasury without interruption
- Company reported a TTM PAT of Rs 85 Cr and maintains a net worth of Rs 621 Cr
CSL Finance Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by its Registrar and Share Transfer Agent (RTA), MAS Services Limited, confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed within the mandatory 15-day timeline. This is a standard administrative filing required for all listed entities to verify the integrity of shareholding records. It has no impact on the company's financial performance or business operations.
- Compliance certificate covers the period from April 1, 2026, to June 30, 2026
- Confirmation that dematerialization requests were accepted or rejected within 15 days of receipt
- Registrar and Share Transfer Agent (RTA) identified as M/s. MAS Services Limited
- Confirmation that security certificates were mutilated and cancelled after due verification
Financial Performance
Revenue Growth by Segment
Total income from operations grew 16.8% YoY to INR 123.42 Cr for the half-year ended September 30, 2025, compared to INR 105.67 Cr in the previous year. In Q2 FY26, SME retail disbursements showed a notable upturn, growing by 93% YoY and 61% sequentially, while the Wholesale vertical continued steady growth, maintaining a 65% share of the total AUM as of March 31, 2025.
Geographic Revenue Split
The company's operations are highly concentrated in the Delhi-NCR region, which accounts for the vast majority of the loan book. This concentration exposes the company to regional economic fluctuations and local regulatory changes in the National Capital Region.
Profitability Margins
Return on Assets (ROA) stood at 6.46% in FY25, a decrease from 7.18% in FY24. Return on Equity (ROE) was 13.31% in FY25, marginally lower than 13.33% in FY24. The decline in ROA is attributed to increased slippages in the SME Retail segment and higher operational expenses from branch expansions.
EBITDA Margin
Pre-Provision Operating Profit (PPoP) increased 18.6% from INR 88.41 Cr in FY24 to INR 104.88 Cr in FY25. Net Profit (PAT) for FY25 was INR 72.09 Cr, up 13.8% from INR 63.36 Cr in FY24, driven by a 21.1% increase in total income net of interest expense.
Capital Expenditure
While specific INR figures for future capex are not disclosed, the company opened 14 new branches in FY25 and is investing in a SOC2-compliant AWS Cloud tech stack to power the entire loan lifecycle from onboarding to analytics.
Credit Rating & Borrowing
The company's credit rating was recently upgraded to A- Stable. The average cost of funds ranges between 11% and 12%. The company has a diverse lender profile of 32 partners, including public and private banks, having onboarded 9 new partners in FY25.
Operational Drivers
Raw Materials
Not applicable as CSL Finance is a Non-Banking Financial Company (NBFC); its primary 'raw material' is capital/debt for lending.
Key Suppliers
The company sources capital from 32 lending partners, including public and private sector banks and financial institutions. Key lenders provide term loans, with INR 372.41 Cr disbursed to CSL in FY24.
Capacity Expansion
The company expanded its physical footprint by opening 14 new branches in FY25. It aims to increase productivity per branch to drive the SME retail loan book toward a target of INR 800 Cr to INR 850 Cr.
Raw Material Costs
Interest expense is the primary cost. Total Income (net of interest expense) rose from INR 90.35 Cr in FY23 to INR 123.65 Cr in FY24, reflecting efficient management of the 11-12% cost of funds.
Manufacturing Efficiency
Operational efficiency is measured by the operating expense to earning assets ratio, which improved to 3.62% in FY24. Collection efficiency remained robust at 98% in Q2 FY26.
Logistics & Distribution
Distribution is driven by the branch network and a team of 460 professionals. Employee expenses have increased due to targeted hiring at the mid-management level to strengthen credit and operations.
Strategic Growth
Expected Growth Rate
29%
Growth Strategy
The company is shifting its product mix toward a 55:45 or 60:40 ratio between SME Retail and Wholesale within 12-18 months. Growth is driven by refining credit policies, simplifying SOPs to reduce disbursement time, and expanding the branch network to reach underbanked small businesses.
Products & Services
SME Retail loans (secured), Wholesale loans for real estate corporations, and loans for non-real estate corporations.
Brand Portfolio
CSL Finance Limited.
New Products/Services
The company is focusing on 'micro-lab' style business and has recently realigned its SME Retail segment to target larger ticket sizes and a broader customer profile to improve yield.
Market Expansion
Expansion is focused on increasing the density of branches in the North India region, specifically targeting the SME sector that lacks access to traditional banking.
Market Share & Ranking
Not disclosed in available documents, though management notes they are better placed than peers due to a 100% secured portfolio.
Strategic Alliances
The company has established partnerships with 32 lenders to ensure a steady flow of capital for disbursements, which totaled INR 293 Cr in Q2 FY26.
External Factors
Industry Trends
The NBFC industry is seeing a shift toward secured lending following stress in unsecured and MFI portfolios. CSL is positioned as a 100% secured lender, which management believes provides a competitive edge during market volatility.
Competitive Landscape
Competes with other NBFCs and banks in the SME and real estate lending space. Competition is primarily based on service delivery speed and the ability to underwrite underbanked customers using alternative data.
Competitive Moat
The moat is built on a 100% secured loan book, deep expertise in the Delhi-NCR real estate market, and a conservative risk DNA (1% provisioning). This is sustainable as long as asset quality (GNPA 0.46%) remains controlled.
Macro Economic Sensitivity
Highly sensitive to Indian economic growth and geopolitical tensions which could trigger a slowdown. A 1% increase in interest rates would directly impact the cost of the company's floating-rate borrowings.
Consumer Behavior
Small businesses are increasingly seeking faster turnaround times for credit, prompting CSL to focus on reducing disbursement times through technology.
Geopolitical Risks
Heightened geopolitical tensions are identified as a potential trigger for a domestic economic slowdown, which would reduce demand for SME and Wholesale credit.
Regulatory & Governance
Industry Regulations
Subject to RBI regulations for NBFCs, including Capital Adequacy Ratios and provisioning norms. CSL maintains a 1% provision, exceeding the 0.4% regulatory requirement.
Environmental Compliance
Not a primary factor for NBFC operations; focus is more on SOC2 compliance for data security.
Taxation Policy Impact
The company's PBT for the half-year ended Sept 30, 2025, was INR 56.43 Cr. Effective tax rates follow standard Indian corporate tax laws for NBFCs.
Risk Analysis
Key Uncertainties
Execution risk in the newer SME Retail segment and potential asset quality deterioration in the Wholesale book due to real estate sector cyclicality. GNPA rose slightly to 0.46% in FY25 from 0.44% in FY24.
Geographic Concentration Risk
Heavy concentration in the Delhi-NCR region, making the company vulnerable to local economic downturns.
Third Party Dependencies
Dependency on 32 lending partners for debt capital; any credit rating downgrade would increase the 11-12% borrowing cost.
Technology Obsolescence Risk
The company is mitigating this by hosting all core applications on AWS Cloud and implementing a future-ready tech stack for the entire loan lifecycle.
Credit & Counterparty Risk
Concentration risk is high, with 41% of AUM tied to the top 20 borrowers. Slippages in these large accounts would significantly impact the NNPA, which stood at 0.34% in FY25.
