SAMMAANCAP — earnings call

The transcript as filed. Every paragraph is addressable: its link names the page and the position it sits at in the call.

Prepared remarks

LIMITED · Management

H.E.

DALIA KHORSHID – CHIEF EXECUTIVE OFFICER – AVALORA HOLDINGS

Moderator · Conference Operator

MR. ARYAN SUMRA – MUFG INTIME INDIA PRIVATE

LIMITED · Management

Sammaan Capital Limited August 13, 2026

Moderator · Conference Operator

Ladies and gentlemen, good day, and welcome to Sammaan Capital Limited Q1 and FY27

Thank you.

Raghav, I'll request you to come back for a follow-up.

Next question is from the line of Bhanu Chauhan from Barclays Group.

Please go ahead.

Bhanu Chauhan

Thanks, Gagan, for the update.

Given the expansion plans, how much upfront opex is this required and do we expect the cost to income to worsen before operating leverage kicks in?

What would be the target cost to income at scale for the company going forward?

Moderator · Conference Operator

Thank you.

Bhanu, I'll request you to come back for a follow-up.

Next question is from the line of Abhiram Iyer from Deutsche Bank.

Please go ahead.

Abhiram Iyer

Yes.

Hi, Gagan.

Thank you for your presentation and congrats on going from strength to strength with the dispersals.

I just had one question on the roughly INR3 billion that’s targeted over the next 18 months.

Do you see the breakup of these dispersals in a similar line to what we saw for the first quarter?

Or what’s your targeted breakup of the dispersals between the different asset classes that you have?

Moderator · Conference Operator

Thank you.

Next question is from the line of Vinit Agarwal from Bajaj Alternates.

Please go ahead.

Vinit Agarwal

Yes.

Thank you for the opportunity.

Just one question.

How active is IHC in product strategy, liability management, risk management, or underwriting processes?

Will you be able to quantify any tangible benefits already realized from IHC’s involvement, be in terms of business sourcing or technology partnership products?

Thanks.

Moderator · Conference Operator

Thank you.

Next question is from the line of Sanket from DAM Capital Advisors.

Please go ahead.

Sanket

Yeah.

So just wanted to check with Dalia ma'am that beyond lending, what's the larger India dream here?

Do we want to start other lines of businesses within, say, financial ecosystem, maybe say two, three, four years hence?

So apart from just the lending if we see your career ma'am, pretty illustrious career with great achievements also on the investment side, just wanted to know what's the larger dream for IHC, when it comes to Indian financial ecosystem?

Moderator · Conference Operator

Thank you, Next question is from the line of Niharika from CapGrow Capital.

Please go ahead.

Niharika

Yeah.

So, was just going through the guidance which has been given by the management over the next five years.

Say, for example, ROE moving up from 6.8% to 18.7%.

ROA from 1.8% to 8.1%.

NIM from 3.5% to 8%.

So, I believe that the targets are too ambitious.

How confident are we on achieving this and what are the on ground things currently being done apart from the product launches that you mentioned?

Moderator · Conference Operator

Yes sir, we have ma'am's connection reconnected with us.

Thank you.

Next question is from the line of Nilesh Sharma, from Monomer Capital.

Please go ahead.

Nilesh Sharma

Thank you so much for the opportunity.

Sir my simple question is what is the disbursement target for current and next financial year?

Moderator · Conference Operator

Thank you very much.

On behalf of MUFG Intime, that concludes this conference.

Thank you for joining us and you may now disconnect your lines.

Thank you.

Questions and answers

Moderator · Conference Operator

Thank you very much.

We will now begin the question-and-answer session.

First question is from the line of Raghav Garg from Ambit Capital.

Please go ahead.

Raghav Garg

Hi.

Thanks for the opportunity and congrats on the results, sir.

Am I audible?