CapitalTrust Q4 FY26: The Quarter That Marked the Pivot

The presentation states CTL has shifted incremental own-book lending toward secured gold loans and is scaling MSME lending through BC and co-lending partnerships with zero-to-capped credit risk.

Q4 FY26 AUM was ₹158 crore, Q4 disbursements were ₹89.4 crore, external borrowings were ₹24.2 crore, capital adequacy was 35%, and GNPA was 2.8% with Net NPA at 0% as per the deck.

The financial highlights note the company was operationally profitable but wrote off about ₹18.3 crore of deferred tax asset that was expiring in the next 2 years, resulting in reported PAT of -₹18.2 crore.

Gold loans were launched in October 2025. The deck states cumulative disbursements of over ₹30 crore within 6 months and 5 branches in Delhi NCR/UP, with 1 live co-lending partner.

The presentation describes a move from unsecured MSME loans held on CTL’s balance sheet to secured gold loans on-book and partner-led MSME originations off-book, with outcomes stated as lower risk, higher velocity, and a cleaner balance sheet.

The deck lists Lighthouse under Equity; Baid Finiserv under co-lending live; Suryoday and Kaleidofin under Business Correspondent; and multiple on-balance sheet funders including IDFC First Bank, Northern Arc, and others.