Sundaram Finance Ltd announced a 6% increase in consolidated net profit, reaching INR 517 crore for the second quarter ending September 30, 2026. In the same quarter last year, the company's net profit was INR 488 crore.
According to the report submitted to regulatory authorities, the company's total consolidated revenue for the quarter under review increased to INR 2,749 crore compared to INR 2,401 crore a year earlier.
The Board of Directors also approved the planned buyback of the 100% stake in Sundaram Alternate Assets Ltd (SAAL). SAAL is a subsidiary of Sundaram Asset Management Company Ltd (SAMCL), which in turn belongs to Sundaram Finance itself. The purpose of this acquisition is to simplify the group's share capital structure to make SAAL a direct subsidiary of Sundaram Finance, rather than an intermediary one.
The proposed buyback of all 390,53,158 equity shares with a face value of INR 10, held by SAMCL in SAAL, will be executed at a cost not exceeding INR 75 crore, excluding taxes, stamp duty, and other charges.
SAAL, established in 2018, serves the investment needs of High Net Worth Individuals (HNIs), Ultra High Net Worth Individuals (UHNIs), family offices, and institutional investors.
Furthermore, Chairman S Viji stepped down from his position as Independent Director and Chairman of the Board. The Board of Directors appointed independent director R Venkatraman as the new Chairman of the company.
During the quarter, interest income rose to INR 2,330 crore compared to INR 2,015 crore in the corresponding period of the previous fiscal year. The company's total expenses, headquartered in Chennai, increased to INR 2,004 crore versus INR 1,751 crore a year ago.
Executive Vice President Harsha Viji noted that the group's entities in asset management, general insurance, and mortgage financing continue to demonstrate strong performance. He emphasized the company's commitment to a time-tested approach towards stable and sustainable growth, top-tier asset quality, and consistent profitability.
