Sammaan Capital swings to Rs 8101.41 cr loss as costs and other income hit
Revenue fell 35.58% YoY while expenses rose 440.22%; the stock nevertheless gained 8.79% on the first trading day after the results.
Filed 20 May 2026, 20:56 IST · after market close · Sammaan Capital Ltd (SAMMAANCAP)
Key takeaways
- Sammaan Capital’s consolidated net loss of Rs 8101.41 cr followed a 35.58% YoY revenue decline, a 440.22% rise in expenses and negative other income of Rs 6495.51 cr.
- Operating margin fell 211.17 percentage points YoY to -139.76% as costs grew much faster than revenue, while interest expense rose 59.83%.
- The stock gained 8.79% on the results day, far above its 2.09% median absolute move after the past eight results.
Price around the results
A sharp reversal from last year’s profit
Sammaan Capital’s consolidated revenue fell 35.58% YoY, while expenses rose 440.22%, turning operating profit into a loss of Rs 1897.51 cr. Pre-tax loss reached Rs 10096.62 cr, with net loss at Rs 8101.41 cr versus net profit of Rs 324.04 cr a year earlier. The deterioration was also sequential: revenue declined 37.07% and expenses increased 1151.94% from Q3FY26.
Negative other income dominated the loss
Other income was negative at Rs 6495.51 cr and accounted for 64.33% of pre-tax profit on the reported measure, making it the largest non-operating factor in the quarter. Interest expense rose 59.83% YoY and 15.15% QoQ, adding to the pressure. The 19.76% tax rate was 9.02 percentage points lower YoY, and the negative tax line provided a tax credit that partly cushioned the reported loss.
Margin collapse leaves the company near the sector’s bottom
Operating margin declined 211.17 percentage points YoY and 227.71 percentage points QoQ to -139.76%, reversing the improvement seen from Q2FY26 through Q3FY26. Among 52 Financial Services companies that had reported, the sector median operating margin was 59.41%; Sammaan Capital was 199.17 percentage points below that level and ranked second from the bottom.
The market reaction was unusually positive
The stock rose 8.79% on the first trading day after the results and was up 24.83% five sessions later. That first-day move was much larger than the 2.09% median absolute reaction across the past eight results, where four moves were positive and four negative.
Q4FY26 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q4FY26 | Q3FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹1,358 cr | ₹2,158 cr | -37.07% | -35.58% |
| Other income | ₹-6,496 cr | ₹0 cr | — | — |
| Expenses | ₹3,255 cr | ₹260 cr | +1151.94% | +440.22% |
| Operating profit | ₹-1,898 cr | ₹1,898 cr | — | — |
| Operating margin (%) | -139.76% | 87.95% | — | — |
| Interest | ₹1,679 cr | ₹1,458 cr | +15.15% | +59.83% |
| Depreciation | ₹25 cr | ₹21 cr | +18.56% | +1.38% |
| Profit before tax | ₹-10,097 cr | ₹419 cr | — | — |
| Tax | ₹-1,995 cr | ₹105 cr | — | — |
| Net profit | ₹-8,101 cr | ₹314 cr | — | — |
| EPS (₹) | ₹-99.10 | ₹3.86 | — | — |
Operating margin of -139.76% compares with a Financial Services sector median of 59.41% across 52 peers that have reported Q4FY26.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +8.79% | +8.81% |
| Next session | +13.86% | — |
| 5 sessions | +24.83% | +25.30% |
| 15 sessions | +23.00% | — |
| 30 sessions | +24.57% | — |
Volume on the results session was 7.41× its 20-day average.
What to watch
- Whether operating margin recovers from -139.76% in the next reported quarter.
- Whether expenses moderate from the 1151.94% QoQ increase recorded in Q4FY26.
- Whether other income moves back from negative Rs 6495.51 cr.