Capri Global Capital Ltd

- Capri Global Capital plans international bond issuance to diversify borrowing sources; expected to be an annual avenue once macro conditions like West Asia crisis stabilize in 2-4 months. - Cost-conscious approach on bond issuance with international ratings completed, but market access pending due to high hedging costs. - Potential for Tier 2 capital raise within 18-24 months timeframe to strengthen capital base alongside increased direct assignment/co-lending. - No explicit mention of equity fundraising in the transcript. - Current fundraising focus remains on debt instruments including bonds and direct assignment routes to support loan growth and capital requirements.

- Capri Global Capital is actively expanding its branch network, aiming to add approximately 700 to 800 branches over the next two years, with about 350 gold loan branches planned for the current financial year. - The company is investing in technology, particularly in AI and platform development, positioning itself as an AI-first financial institution with proprietary small language models for financial services use cases. - They have been focusing on building a scalable technology and AI-driven lending ecosystem that enhances operational efficiency and customer engagement. - Strategic investment plans include international bond issuance to diversify borrowing sources, though timing depends on macroeconomic conditions and hedging costs. - Capri is also enhancing its insurance distribution business with digital platforms (e.g., Capri Care), integrating health and wellness solutions into its offerings. - There are plans to expand the car loan business by adding used car loans and other financial products over the next 3–4 years, leveraging their existing workforce.

- AUM growth target: INR46,000 crores by FY '27 and INR57,000 crores by FY '28, revised upwards by INR2,000 crores. - Gold loan AUM expected to grow 25% to 30%, potentially reaching 50% of total AUM, driven by branch expansion (~700-800 branches in 2 years). - MSME segment growth projected at 20% to 25%. - Construction finance and housing finance segments expected to grow 25% to 30%. - Car loan origination growth forecasted at 12% to 15% year-on-year, with focus on margin improvement. - Insurance income expected to grow in line with AUM growth (~25% to 30%). - Fee income from car loan segment projected to grow 12% to 15%; co-lending income expected to remain stable. - PAT guidance for FY '27 is approximately INR1,300 crores. - Overall blended yields on gold loans to stabilize after recent decline due to co-lending strategies. - Expansion in fee income from capital markets and insurance distribution expected, with digital platforms enhancing scale.

- Capri Global targets an AUM of INR 55,000 crores by FY '28, up from current INR 36,623 crores (Q4 FY26). - Return on Average Equity (ROE) expected at 16% to 18% and Return on Average Assets (ROA) around 4% to 4.5% by FY '28. - Insurance income projected to grow 25% to 30% in FY '27, in line with AUM growth. - Car loan income expected growth is about 12% to 15% in FY '27. - Co-lending income anticipated to remain flat with compensations by Direct Assignment (DA). - Cost-to-income ratio is improving due to operating scale and technology, leading to margin enhancement. - Car loan entity aims profit target of INR 20 crores this year, with plans to scale significantly over next 4-5 years. - Fee income and non-interest income streams are growing strongly, supporting diversified earnings. - Gold loan and other verticals forecasted to grow 25% to 30%, supporting profitability and scale.

The transcript does not explicitly mention the current or expected order book or pending orders for Capri Global Capital Limited. The discussion primarily focuses on: - AUM growth projections and branch expansions. - Growth in various loan segments: gold loans, MSME, housing finance, construction finance, and car loans. - Strategic plans for international bond issuance, fee-based income growth, and capital adequacy. - Technology and AI integration in lending and collection processes. - Asset quality, provisioning, and borrowing cost outlook. No specific details on order book or pending orders are provided in the Q4 FY26 concall transcript.