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FEDFINA - Fedbank Financi.

📊 NSE: FEDFINA 🏢 Finance & Investments 📅 Last Updated: 12/13/2025 22:04

📢 Recent Corporate Announcements

Fedfina Reports Zero Deviation in Utilization of ₹1,092.26 Cr IPO Proceeds

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 28 Apr 2026, 04:42 PM

Fedbank Financial Services (Fedfina) has confirmed that there were no deviations or variations in the utilization of funds raised through its Initial Public Offering (IPO) in November 2023. The company raised a total of ₹1,092.26 Crores, which is being deployed to augment Tier I capital to support future business growth and asset expansion. The monitoring agency, ICRA Limited, and the company's Audit Committee have reviewed and approved the utilization report for the quarter ended March 31, 2026. This transparency confirms that the management is adhering strictly to the objects of the issue as stated in the prospectus.

Total funds raised via IPO in November 2023 amounted to ₹1,092.26 Crores.
Zero deviation or variation reported in fund utilization for the quarter ended March 31, 2026.
Proceeds are being utilized to augment Tier I capital for future business growth.
Monitoring agency ICRA Limited and the Audit Committee have reviewed and cleared the statement.

💡 Investors should view this as a sign of management integrity and adherence to stated financial goals. No immediate action is required, but continue to monitor how this capital translates into loan book growth.

Fedfina Q4 FY26 PAT Jumps 40.3% YoY to ₹101 Cr; AUM Crosses ₹20,000 Cr Mark

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Apr 2026, 04:26 PM

Fedbank Financial Services (Fedfina) reported a robust Q4 FY26 performance with Profit After Tax (PAT) rising 40.3% YoY to ₹100.52 crore. The company's Assets Under Management (AUM) grew by 27.5% YoY to reach ₹20,153 crore, supported by a massive 109.1% YoY surge in quarterly disbursements to ₹11,665 crore. Asset quality showed improvement as Gross Stage III assets declined to 1.9% from 2.1% in the previous quarter. Profitability metrics also strengthened, with Return on Average Assets (ROA) reaching 2.6% and Return on Average Equity (ROE) climbing to 14.0%.

Profit After Tax (PAT) increased by 40.3% YoY to ₹100.52 Cr in Q4 FY26.
Assets Under Management (AUM) grew 27.5% YoY to ₹20,153 Cr, with disbursements surging 109.1% YoY to ₹11,665 Cr.
Net Interest Income (NII) rose 23.1% YoY to ₹348.8 Cr, while credit costs improved to 0.7%.
Asset quality improved with Gross NPA at 1.9% (down 18 bps QoQ) and Net NPA at 1.3% (down 13 bps QoQ).
Operational footprint expanded to 757 branches across 17 states, including 34 new Gold Loan branches added this quarter.

💡 Investors should take note of the strong AUM growth and improving asset quality metrics which indicate efficient scaling. The significant jump in disbursements and ROE expansion suggests the company is successfully leveraging its branch network for higher profitability.

Fedfina FY26 Total Income Rises to ₹2,226.6 Cr; Q4 Revenue Up 15% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Apr 2026, 04:20 PM

Fedbank Financial Services (Fedfina) reported a steady growth in its financial performance for the fiscal year ended March 31, 2026. Total income for the full year reached ₹2,22,661 Lakhs, compared to ₹2,07,982 Lakhs in the previous year. For the final quarter (Q4), revenue from operations grew by 15% year-on-year to ₹61,645 Lakhs, driven primarily by an 18% increase in interest income. The company has also been officially classified as a "Large Corporate" under SEBI guidelines, reflecting its increased scale.

Total Revenue from Operations for FY26 increased to ₹2,22,360 Lakhs from ₹2,06,187 Lakhs in FY25.
Interest Income for Q4 FY26 stood at ₹58,826 Lakhs, a significant jump from ₹49,918 Lakhs in Q4 FY25.
Finance costs for the full year were contained at ₹87,932 Lakhs compared to ₹85,378 Lakhs in the previous year.
The company met the "Large Corporate" criteria as of March 31, 2026, per SEBI circulars.
Statutory auditors issued an unmodified opinion on the audited financial results for the year.

💡 Investors should monitor the company's ability to maintain net interest margins as it scales into a Large Corporate entity. The steady growth in interest income suggests robust credit demand in its target segments.

Fedbank Financial Services Schedules Q4 & FY26 Earnings Call for April 28, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 20 Apr 2026, 04:57 PM

Fedbank Financial Services Limited (FEDFINA) has announced its earnings conference call scheduled for April 28, 2026, at 6:00 PM IST. The management team, led by MD & CEO Parvez Mulla and CFO C. V. Ganesh, will discuss the company's financial performance for the quarter and full year ended March 31, 2026. This call provides a platform for institutional investors and analysts to gain insights into the company's operational metrics and future guidance. The inclusion of various Chief Business Officers suggests a detailed review of Gold Loans and Loan Against Property (LAP) segments.

Earnings call set for April 28, 2026, following the release of Q4 and FY26 results.
Management representation includes the MD & CEO, CFO, CRO, and CBOs of Gold Loans and LAP.
The call is organized by Equirus Securities and features a Diamond Pass for express joining.
Universal access numbers provided: +91 22 6280 1224 and +91 22 7115 8125.

💡 Investors should monitor the call for management commentary on loan book growth, asset quality, and margin outlook for the upcoming fiscal year. Focus on segment-specific performance in Gold Loans and LAP as these are key drivers for FEDFINA.

Fedfina Credit Rating Reaffirmed at CARE AA+; Bank Facilities Enhanced to ₹10,000 Cr

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 11 Apr 2026, 03:14 PM

CareEdge Ratings has reaffirmed Fedfina's 'CARE AA+; Stable' rating and significantly enhanced its bank facility limits from ₹7,500 crore to ₹10,000 crore. The rating is anchored by strong support from its parent, Federal Bank (60.80% stake), and a robust AUM growth reaching ₹17,500 crore as of December 2025. While the company maintains a healthy Capital Adequacy Ratio of 20.50%, it faces asset quality pressure in its mortgage segment where GNPA rose to 3.80%. Profitability showed recovery in 9MFY26 with a PAT of ₹243.07 crore and an annualized ROTA of 2.50%.

Bank facility limits enhanced by ₹2,500 crore to a total of ₹10,000 crore with CARE AA+; Stable rating.
Assets Under Management (AUM) reached ₹17,500 crore as of Dec 31, 2025, reflecting a 41% CAGR since FY18.
Capital Adequacy Ratio (CAR) remains strong at 20.50%, providing a comfortable cushion over regulatory requirements.
Strategic shift towards secured lending with gold loans now comprising 45% of AUM and unsecured loans reduced to 2%.
Asset quality remains a monitorable as Mortgage GNPA increased to 3.80% despite overall stable metrics.

💡 Investors should take confidence in the reaffirmed high credit rating and the enhanced borrowing capacity which supports future growth. However, keep a close watch on the delinquency trends in the non-gold portfolio and the company's high reliance on bank-led funding.

Fedfina Clarifies Single Segment Operations to NSE for Q1 FY26 Results

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 10 Apr 2026, 06:26 PM

Fedbank Financial Services Limited (Fedfina) has responded to a clarification sought by the NSE regarding the absence of segment details in its Q1 FY26 financial results. The company clarified that it operates exclusively in the domestic lending business, which constitutes a single reportable segment under Ind AS 108. Fedfina noted that this reporting style is consistent with its previous filings for the quarters ended December 2024 and March 2025. The management has committed to including a specific note regarding its single-segment status in all future financial disclosures to ensure regulatory compliance.

NSE sought clarification on September 11, 2025, regarding missing segment details in the June 30, 2025, results.
Company confirmed it operates in a single business segment (Lending) and single geography (Domestic).
Compliance with Ind AS 108 cited as the reason for not providing multiple segment reports.
Fedfina pledged to include a clarifying note in all future financial statements to prevent further queries.

💡 This is a routine procedural clarification with no impact on the company's financial health or business operations. Investors should focus on the company's core lending metrics and asset quality in upcoming reports.

Fedfina Submits Routine SEBI Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Apr 2026, 03:46 PM

Fedbank Financial Services Limited (Fedfina) has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by the Registrar and Share Transfer Agent MUFG Intime India Private Limited, covers the quarter ending March 31, 2026. The registrar confirmed that no dematerialization or rematerialization requests were received or processed during this specific period. This filing is a standard procedural requirement for listed companies to ensure the integrity of shareholding records.

Compliance certificate submitted for the quarter ended March 31, 2026.
Registrar MUFG Intime India confirmed zero demat or remat requests were processed during the quarter.
The filing confirms adherence to SEBI Regulation 74(5) regarding the handling of security certificates.
Standard administrative disclosure with no impact on the company's financial performance or operations.

💡 No action is required as this is a routine administrative filing. Investors should continue to monitor the company's upcoming quarterly financial results for material updates.

CRISIL Reaffirms Fedfina's AA+/Stable Rating; Enhances CP Limit to Rs 2,500 Crore

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 02 Apr 2026, 12:52 PM

CRISIL has reaffirmed Fedbank Financial Services Limited's (Fedfina) credit ratings at 'AA+/Stable' for NCDs and 'A1+' for Commercial Paper. Notably, the Commercial Paper limit has been enhanced from Rs 2,000 crore to Rs 2,500 crore, indicating improved borrowing capacity. The rating is strongly supported by the majority ownership (60.8%) and strategic importance to its parent, Federal Bank. While the company maintains a healthy Capital Adequacy Ratio of 20.47%, investors should monitor the rising GNPA in the affordable mortgage segment which reached 5.3% as of December 2025.

CRISIL reaffirmed 'AA+/Stable' for Rs 1,250 crore NCDs and 'A1+' for Commercial Paper.
Commercial Paper borrowing limit enhanced by Rs 500 crore to a total of Rs 2,500 crore.
Assets Under Management (AUM) reached Rs 17,500 crore as of December 31, 2025, with a 25% 3-year CAGR.
Capital position remains strong with a Networth of Rs 2,806 crore and CAR of 20.47%.
9M FY2026 PAT reported at Rs 243 crore with a Return on Managed Assets (RoMA) of 1.8%.

💡 The rating reaffirmation and limit enhancement are positive indicators of liquidity and parent-backed stability. Investors should maintain a positive outlook but closely track the management's ability to control delinquencies in the mortgage and LAP segments.

Fedfina Allots 21,000 Equity Shares Under ESOP Scheme 2018

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Apr 2026, 06:11 PM

Fedbank Financial Services Limited (Fedfina) has allotted 21,000 equity shares to employees who exercised their vested stock options under the 2018 ESOP scheme. This action has marginally increased the company's total paid-up share capital from Rs. 3,74,20,61,010 to Rs. 3,74,22,71,010. The new shares are issued at a face value of Rs. 10 each and will rank equally with existing shares. This is a routine administrative update with negligible impact on overall shareholding structure.

Allotment of 21,000 equity shares of face value Rs. 10 each.
Total paid-up equity shares increased to 37,42,27,101 from 37,42,06,101.
Paid-up share capital increased to approximately Rs. 374.23 crore.
Shares issued under the Fedbank Financial Services Limited - Employees Stock Option Scheme, 2018.

💡 No action is required as the equity dilution is extremely minimal (less than 0.01%). Investors should focus on the company's quarterly earnings and loan book growth.

Fedbank Financial Services (FEDFINA) Concludes Investor Meeting with 14 Institutional Participants

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Mar 2026, 12:45 PM

Fedbank Financial Services Limited (FEDFINA) conducted a conference meeting with institutional investors and analysts on March 25, 2026, in Mumbai. The session, which lasted approximately 95 minutes, saw participation from 14 diverse financial entities including Mutual Funds, PMS, and Life Insurance companies. Notable attendees included Tata MF, Union MF, and ICICI Prudential Life Insurance. The company maintained regulatory compliance by confirming that no unpublished price sensitive information (UPSI) was shared during the interaction.

The meeting was held on March 25, 2026, in Mumbai, spanning from 04:15 PM to 05:50 PM.
A total of 14 institutional participants attended, including Nepean Capital, Tata MF, Union MF, and ICICI Prudential Life Insurance.
The company explicitly stated that no unpublished price sensitive information (UPSI) was shared during the meeting.
The disclosure was made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 This is a routine regulatory filing indicating active engagement with the institutional investor community. Investors should monitor the company's website for any updated investor presentations or transcripts that may provide further strategic insights.

Fedbank Financial Services Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Mar 2026, 12:40 PM

Fedbank Financial Services Limited (FEDFINA) has notified the exchanges regarding the closure of its trading window starting April 1, 2026. This closure is mandatory under SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results for the quarter and year ending March 31, 2026. The restriction applies to all designated persons and their immediate relatives. The window will reopen 48 hours after the official declaration of the audited financial results.

Trading window closure effective from Wednesday, April 1, 2026
Relates to the audited financial results for the quarter and year ending March 31, 2026
Restriction remains in place until 48 hours post-result declaration
Board meeting date for result approval to be announced separately

💡 This is a standard regulatory procedure with no impact on stock fundamentals; investors should monitor for the upcoming earnings release date.

Fedfina Allots ₹450 Crore Unsecured Subordinated NCDs via Private Placement

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 24 Mar 2026, 04:25 PM

Fedbank Financial Services (Fedfina) has successfully allotted ₹450 crore worth of unsecured, subordinated, non-convertible debentures (NCDs) on a private placement basis. The issuance is divided into two series: ₹250 crore with an 8.85% coupon and ₹200 crore with an 8.90% coupon, both featuring tenors of over seven years. These funds are part of a larger ₹2,500 crore fundraising limit previously approved by the board and shareholders. As subordinated debt, this issuance will likely strengthen the company's Tier-II capital base, supporting its long-term growth objectives.

Total allotment of ₹450 crore across two series of rated, listed, and subordinated NCDs.
Series I: ₹250 crore at 8.85% per annum with a tenor of 7 years and 7 months.
Series II: ₹200 crore at 8.90% per annum with a tenor of 7 years and 8 months.
The issuance is part of a broader board-approved plan to raise up to ₹2,500 crore via NCDs.
Securities are unsecured and will be listed on the BSE Limited.

💡 Investors should monitor how this capital infusion impacts the company's capital adequacy ratio and long-term lending capacity. The successful placement at these rates indicates healthy institutional interest in the company's debt instruments.

Fedfina Conducts One-on-One Investor Meeting with Nuvama Crossover Opportunities Fund

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Mar 2026, 07:07 PM

Fedbank Financial Services Limited (FEDFINA) held a one-on-one investor meeting with Nuvama Crossover Opportunities Fund on March 23, 2026. The meeting was conducted via video conferencing to discuss the company's business and outlook. The management explicitly stated that no unpublished price sensitive information (UPSI) was shared during the session. This disclosure is part of the company's routine compliance under SEBI Listing Obligations and Disclosure Requirements.

Meeting held on March 23, 2026, with Nuvama Crossover Opportunities Fund.
Interaction was conducted through a one-on-one video conferencing format.
Company confirmed that no unpublished price sensitive information was disclosed.
The disclosure is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 No immediate action is required as this is a routine regulatory filing. Investors should continue to monitor the company's quarterly earnings for material performance updates.

Fedbank Financial Services to Attend ICICI Securities Investor Conference on March 25, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Mar 2026, 06:40 PM

Fedbank Financial Services Limited (FEDFINA) has scheduled a meeting with institutional investors and analysts on March 25, 2026. The meeting is part of an investor conference organized by ICICI Securities Group at the Grand Hyatt in Mumbai. This disclosure is a routine filing under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Such interactions are standard for listed companies to maintain transparency with the investment community.

Participation in an investor conference organized by ICICI Securities Group.
The meeting is scheduled for March 25, 2026, in Mumbai.
Disclosure made pursuant to Regulation 30(6) of SEBI LODR Regulations.
The schedule is subject to change based on exigencies of either party.

💡 No immediate action is required as this is a routine disclosure. Investors should look for any subsequent investor presentations or transcripts that may be uploaded following the conference for updates on business strategy.

Fedfina Concludes Institutional Investor Meetings with Major Asset Managers

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Mar 2026, 06:37 PM

Fedbank Financial Services Limited (FEDFINA) conducted a series of investor meetings in Mumbai on March 17, 2026. The sessions ran from 09:15 AM to 05:45 PM and involved six prominent institutional participants, including Kotak MF and ICICI Prudential Life Insurance. The company confirmed that no unpublished price sensitive information (UPSI) was shared during these interactions. This disclosure is part of the company's routine investor relations engagement following its initial notification on March 10, 2026.

Meetings held on March 17, 2026, involving six major institutional investors and asset management firms.
Participating entities included Anand Rathi Securities, Kotak MF, Tata AIA Life, Aditya Birla MF, ICICI Pru Life, and Motilal Oswal AMC.
The engagement lasted for approximately 8.5 hours, starting at 09:15 AM and concluding at 05:45 PM.
Official confirmation provided that no unpublished price sensitive information (UPSI) was disclosed during the meetings.

💡 No immediate action is required as this is a routine regulatory disclosure. Investors may look for potential research notes or updates from the participating brokerage firms in the coming days.

View All FEDFINA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 28.1% YoY to INR 2,079.82 Cr in FY25 from INR 1,623.00 Cr. Net Interest Income (NII) increased 31.8% to INR 1,070.80 Cr. Segmental AUM growth is led by Gold Loans, which grew to represent 40.34% of the total AUM of INR 15,697 Cr as of June 2025, while Medium-Ticket LAP and Small-Ticket LAP also contributed significantly to the 41% CAGR achieved since FY18.

Geographic Revenue Split

The company exhibits high geographic concentration with Maharashtra, Karnataka, and Tamil Nadu collectively contributing 49.19% of the total AUM as of June 30, 2025. This concentration makes revenue sensitive to regional economic shifts in these three core states.

Profitability Margins

Net Profit (PAT) declined by 7.9% to INR 225.18 Cr in FY25 from INR 244.70 Cr in FY24, primarily due to a significant rise in credit costs which reached 1.8% of average assets. Return on Average Total Assets (ROTA) moderated from 2.45% in FY24 to 1.86% in FY25, though it recovered to 2.27% in Q1 FY26 due to improved yields and lower sequential credit costs.

EBITDA Margin

Pre-provision operating profit (PPOP) improved by 31.9% to INR 520 Cr in FY25 from INR 394 Cr in FY24, reflecting scale benefits and an improved Net Interest Margin (NIM) of 7.1% in 9M FY2025 compared to 6.7% in FY2024.

Capital Expenditure

While traditional CAPEX is minimal for an NBFC, the company invested in expanding its physical footprint to 668 branches by June 2025 and plans to add 100+ new branches in FY26. Net worth increased 12.7% to INR 2,547.36 Cr in FY25, supported by internal accruals and a previous INR 600 Cr IPO raise.

Credit Rating & Borrowing

The company maintains a strong credit profile with ratings of CARE AA+; Stable and CRISIL AA+; Stable. Borrowing costs have shown improvement, contributing to a 100 bps sequential improvement in spreads to 8.7% in Q2 FY26. Total borrowings stood at INR 10,268.66 Cr as of March 31, 2025.

⚙️ Operational Drivers

Raw Materials

The primary 'raw material' for Fedfina is debt capital, with Bank Term Loans/ECB/Short-term loans representing 87.5% of the total borrowing mix of INR 10,162 Cr as of June 2025.

Import Sources

Capital is sourced domestically from Indian commercial banks and through External Commercial Borrowings (ECB) from international markets.

Key Suppliers

Federal Bank Limited (FBL) is the primary strategic provider, offering funding support of INR 1,325.53 Cr. Other sources include various commercial banks providing term loans and working capital facilities.

Capacity Expansion

Current operational capacity consists of 668 branches across 18 states and union territories as of June 2025. The company has a planned expansion to add 100+ branches during FY26 to increase market penetration in the gold loan and LAP segments.

Raw Material Costs

Cost of borrowings is the critical cost driver; interest expenses are managed through a skewed resource profile where 87.5% is bank-funded. Interest coverage ratio stood at 1.52 times in Q1 FY26.

Manufacturing Efficiency

Efficiency is measured by branch-level productivity and opex growth containment, which was limited to 2.6% in the recent quarter through cost rationalization measures.

Logistics & Distribution

Distribution is handled through a physical network of 668 branches and a 'doorstep model' for gold loan disbursals to enhance customer reach and service speed.

📈 Strategic Growth

Expected Growth Rate

41%

Growth Strategy

Growth will be achieved by pivoting to a 98% secured lending model, expanding the gold loan business through 100+ new branches in FY26, increasing doorstep coverage, and focusing on self-occupied properties in the LAP segment (82.3% of mortgage AUM). The company also aims to reduce reliance on Direct Assignment (DA) income to focus on core interest income.

Products & Services

Gold loans, Loan Against Property (LAP), Home Loans, and Unsecured Business Loans (currently being phased out).

Brand Portfolio

Fedfina, Fedbank Financial Services Limited.

New Products/Services

Focusing on High-Yield Short-Term (ST) LAP and Low-Risk Medium-Ticket (MT) LAP to optimize capital allocation and yield.

Market Expansion

Expansion into 18 states with a focus on reducing geographic concentration in Maharashtra, Karnataka, and Tamil Nadu by adding 100+ branches in FY26.

Strategic Alliances

Majority owned by Federal Bank Limited (60.97% stake) and backed by True North Fund VI LLP (8.66% stake).

🌍 External Factors

Industry Trends

The NBFC sector is facing headwinds in unsecured segments, leading Fedfina to pivot toward a 98% secured portfolio. The industry is moving toward digital-first models and tighter regulatory oversight on bank-NBFC linkages.

Competitive Landscape

Competes with other retail-focused NBFCs and private banks in the gold loan and LAP segments, facing competitive pricing pressures.

Competitive Moat

The primary moat is the 'Federal Bank' brand and the strong moral and financial support from the parent (60.97% stake), which ensures lower borrowing costs and financial flexibility. This is sustainable as long as the parent maintains a majority stake.

Macro Economic Sensitivity

Highly sensitive to gold prices, which support gold loan AUM growth, and interest rate cycles that impact the cost of bank borrowings (87.5% of debt).

Consumer Behavior

Shift toward doorstep banking and digital loan processing, which Fedfina is addressing through its 'doorstep model' and automated loan lifecycles.

Geopolitical Risks

Indirect exposure through macroeconomic impacts on gold prices and domestic interest rate volatility.

⚖️ Regulatory & Governance

Industry Regulations

Regulated by RBI as a systemically important non-banking finance company (NBFC-ND-SI). Must maintain CAR above 15%; currently at 22.40%.

Environmental Compliance

Compliant with ESG standards, achieving a 24.7% reduction in emission intensity and adopting Green Building practices for 20-40% energy savings.

Taxation Policy Impact

The effective tax rate is approximately 25.8%, with INR 7,857 Lakhs in tax provided against INR 30,375 Lakhs Profit Before Tax in FY25.

⚠️ Risk Analysis

Key Uncertainties

Asset quality in the unseasoned LAP portfolio and the impact of unsecured loan stress on secured exposures could increase credit costs beyond the 1% target, potentially impacting profitability by 10-15%.