Capri Global Capital Limited (CGCL) AI Stock Analysis

• Market Cap: ₹165.49B
• Dividend Yield: 0.11%
• Average Volume (3M): 136.90K
• Price to Earnings (P/E): 17.2
• Beta (1Y): 0.64
• Revenue Growth: 43.41%
• EPS Growth: 109.52%
• Country: IN
• Employees: 6,820
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 2.65
• Shares Outstanding: 962,154,000
• 10 Day Avg. Volume: 118,509
• 30 Day Avg. Volume: 136,895
• PEG Ratio: 0.42
• Price to Book (P/B): 3.30
• Price to Sales (P/S): 4.90
• P/FCF Ratio: -3.25
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 9.43
• Revenue Forecast (FY): ₹32.09B

• Rating: 52 Neutral
• Price Target: ₹171.00 ▼(-7.04% Downside)
• Action: Reiterated Date: 11/26/25
• Date: Action: Reiterated 11/26/25

Capri Global Capital Limited's overall stock score is primarily influenced by its financial performance and technical analysis. The company shows strong revenue growth but faces challenges with profitability and cash flow management. The technical indicators suggest bearish momentum, which could impact short-term stock performance. The valuation is fair, but the low dividend yield might not attract income-focused investors.

Positive Factors

Revenue Growth

Sustained high revenue growth indicates expanding loan originations and product traction in retail/MSME segments. Over a multi-quarter horizon, this supports scale benefits, fee income diversification and capacity to invest in distribution and underwriting, provided credit quality is maintained.

Secured Lending Focus

A focus on collateral-backed loans and a branch-led origination model supports lower loss severity and stable customer access. This structural business model generates more predictable recoveries and sticky relationships, aiding long-term portfolio resilience and repeat origination potential.

Improving ROE

Rising ROE signals more effective deployment of shareholder capital and improved profitability dynamics. If sustained, it enhances the firm’s ability to attract funding and internal capital generation, supporting growth without excessive dilution—contingent on controlling credit costs and leverage.

Negative Factors

High Leverage

A materially high debt/equity ratio raises refinancing and interest-rate sensitivity for an NBFC. Over several quarters this constrains balance sheet flexibility, heightens funding risk at tighter market conditions, and amplifies earnings volatility if funding costs rise or credit spreads widen.

Weak Cash Flow

Persistent negative operating cash flows erode liquidity and increase dependence on external borrowing to fund operations and loan growth. This structural cash generation shortfall can force frequent refinancing or capital raises, raising costs and limiting the firm's ability to self-fund expansion.

Margin Volatility

Large swings and a meaningful decline in net margins point to unstable profitability driven by credit costs or pricing pressure. Over the medium term this reduces retained earnings and weakens capital accumulation, making returns fragile despite top-line growth unless margins stabilize.

Capri Global Capital Limited Business Overview & Revenue Model

Company Description

Capri Global Capital Limited, a non-banking finance company, provides financial services in India. It offers home loans; micro, small, and medium enterprises (MSME) loans; housing loans; construction finance, including project funding and structured debt financing; indirect lending; business loans; working capital loans; and term loans against property. The company was formerly known as Money Matters Financial Services Limited and changed its name to Capri Global Capital Limited in July 2013. Capri Global Capital Limited was incorporated in 1994 and is based in Mumbai, India.

How the Company Makes Money

CGCL primarily makes money by lending and earning interest income on its loan portfolio. Its core revenue model is the net interest spread between (a) the yield it earns on loans extended to customers (e.g., secured retail and MSME credit) and (b) the cost it pays to fund those loans through borrowings and other funding sources. In addition to interest income, the company earns fee and other income associated with lending activities, such as processing/servicing charges, documentation and other loan-related fees, and may also earn income from loan origination and distribution arrangements where applicable. Like most NBFCs, CGCL’s profitability is significantly influenced by credit costs (provisions and write-offs from borrower defaults), operating expenses (branch and staff costs, collections, technology, and compliance), and funding conditions (interest rates and access to bank/market borrowings). Information on any specific named partnerships or the exact mix of revenue by stream is null.

Capri Global Capital Limited Financial Statement Overview

Summary

Capri Global Capital Limited shows strong revenue growth and operational efficiency, but faces challenges with profitability margins and cash flow management. The high leverage on the balance sheet poses potential risks, although returns on equity have improved. The company needs to address cash flow issues to ensure sustainable financial health.

Income Statement

Capri Global Capital Limited has shown a solid revenue growth rate of 15.59% in the most recent year, indicating strong top-line expansion. However, the gross profit margin has fluctuated significantly, with a negative margin in 2024, impacting overall profitability. The net profit margin has decreased from 20.92% in 2024 to 14.72% in 2025, suggesting pressure on net earnings. Despite these challenges, the company maintains a reasonable EBIT margin of 22.58%, reflecting operational efficiency.

Balance Sheet

The company exhibits a high debt-to-equity ratio of 3.62, indicating significant leverage which could pose financial risks. The return on equity has improved to 11.12% in 2025, showing better utilization of shareholder funds. However, the equity ratio remains low, suggesting a reliance on debt financing. Overall, the balance sheet reflects a leveraged position with moderate returns.

Cash Flow

Capri Global Capital Limited faces challenges in cash flow management, with negative operating and free cash flows in recent years. The free cash flow to net income ratio is slightly above 1, indicating that free cash flow covers net income, but the negative growth in free cash flow is concerning. The operating cash flow to net income ratio is negative, highlighting cash flow issues relative to earnings.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	35.94B	29.04B	20.82B	13.26B	8.86B	6.70B
Gross Profit	14.73B	8.57B	6.02B	4.25B	3.82B	2.94B
EBITDA	11.70B	7.68B	4.88B	3.28B	2.86B	2.49B
Net Income	7.17B	4.79B	2.79B	2.05B	2.05B	1.77B
Balance Sheet
Total Assets	244.13B	208.31B	151.50B	117.95B	71.53B	58.13B
Cash, Cash Equivalents and Short-Term Investments	18.44B	15.31B	8.66B	15.10B	5.72B	8.26B
Total Debt	167.86B	155.77B	104.07B	75.11B	48.57B	37.69B
Total Liabilities	177.40B	165.27B	113.13B	82.29B	52.30B	40.96B
Stockholders Equity	66.73B	43.04B	38.37B	35.65B	19.22B	17.17B
Cash Flow
Free Cash Flow	-22.73B	-43.77B	-37.68B	-31.25B	-13.53B	-3.57B
Operating Cash Flow	-22.53B	-43.12B	-37.00B	-29.94B	-13.41B	-3.53B
Investing Cash Flow	-39.12M	600.48M	-70.51M	520.93M	4.67B	-4.64B
Financing Cash Flow	25.68B	51.18B	28.70B	40.96B	11.76B	8.92B

Capri Global Capital Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 183.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CGCL, the sentiment is Negative. The current price of 183.95 is above the 20-day moving average (MA) of 167.23, above the 50-day MA of 173.35, and above the 200-day MA of 181.07, indicating a neutral trend. The MACD of -1.73 indicates Negative momentum. The RSI at 53.99 is Neutral, neither overbought nor oversold. The STOCH value of 92.38 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CGCL.

Capri Global Capital Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
IIFL	64 Neutral	₹201.71B	13.98	―	―	8.01%	-20.87%
FIVESTAR	59 Neutral	₹105.62B	14.49	―	0.36%	20.44%	13.10%
CREDITACC	56 Neutral	₹188.32B	20.20	―	0.77%	0.75%	-90.03%
IFCI	55 Neutral	₹150.18B	-220.42	―	―	-12.62%	175.71%
CGCL	52 Neutral	₹165.49B	17.22	―	0.11%	43.41%	109.52%
MANAPPURAM	49 Neutral	₹212.41B	27.09	―	0.80%	-3.68%	-80.12%

Capri Global Capital Limited Corporate Events

Capri Global Board Clears Up to ₹2,000 Crore NCD Fundraise

Capri Global Capital’s board has approved raising up to ₹2,000 crore through a public issue of redeemable, rated, secured, listed non-convertible debentures, to be issued in one or more tranches and listed on BSE. The structure, tenure, coupon, and security terms are yet to be finalised, but the move underscores the company’s strategy of tapping bond markets to support lending growth and diversify its funding mix, with implications for its leverage profile and investor base.

The approved shelf limit of ₹2,000 crore allows flexibility in timing and sizing of individual tranches as market conditions evolve. For stakeholders, the NCD programme signals continued expansion of the lending book financed through capital market instruments, potentially enhancing yield opportunities for fixed-income investors while increasing Capri Global’s dependence on debt markets for growth capital.

Capri Global to Raise Up to ₹2,000 Crore via Listed NCD Issue

Capri Global Capital Limited’s board has approved a plan to raise up to ₹2,000 crore through a public issue of secured, rated, listed, redeemable non-convertible debentures, to be issued in one or more tranches and listed on BSE. While key terms such as tenure, coupon structure and security details are yet to be finalised, the sizeable NCD programme signals an effort to diversify funding sources and bolster long-term resources for its lending business, with implications for its capital structure and future growth capacity.

Capri Global Board Clears Q3 FY26 Results, $1 Billion GMTN Plan and Rs 200 Crore Housing Finance Infusion

Capri Global Capital Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, along with an unmodified limited review report from the joint statutory auditors, a statement on the utilisation of proceeds from non-convertible securities, and the required security cover certificate, in line with SEBI listing regulations. In a significant funding move, the board cleared the establishment of a Global Medium Term Note programme of up to USD 1 billion for issuance of foreign currency bonds or other debt securities to overseas investors, and also approved a further equity infusion of Rs 200 crore into its wholly owned subsidiary Capri Global Housing Finance Limited via a rights issue, while noting a change in internal reporting structure under which Hardik Doshi will no longer be classified as senior management personnel.

Capri Global Clears $1 Billion GMTN Plan and Rs 200 Crore Infusion into Housing Finance Arm

Capri Global Capital Limited’s board has approved a series of measures including the establishment of a Global Medium Term Note (GMTN) programme of up to USD 1 billion to raise funds via foreign currency bonds or other debt securities, which will be issued overseas and not offered to investors in India, subject to market conditions and regulatory approvals. The board also cleared the unaudited standalone and consolidated financial results for the quarter ended 31 December 2025, along with an unmodified limited review report, approved statutory disclosures on the use of proceeds from non-convertible securities and security cover, sanctioned a further Rs 200 crore equity investment in its housing finance subsidiary CGHFL via a rights issue to support its capital base, and noted a change in senior management classification following an internal reporting restructure, underscoring the company’s efforts to strengthen funding, governance, and subsidiary growth.

Capri Global Unveils $1 Billion GMTN Plan, Injects ₹200 Crore into Housing Finance Arm

Capri Global Capital’s board has approved the unaudited standalone and consolidated financial results for the quarter ended 31 December 2025, along with an unmodified limited review report, and disclosed the utilisation of proceeds from non-convertible securities and the requisite security cover, in line with SEBI listing regulations. In a key funding move, the board cleared the establishment of a Global Medium Term Note programme of up to USD 1 billion for issuing foreign currency-denominated debt to offshore investors, and sanctioned a further investment of Rs 200 crore in equity of its housing finance subsidiary via a rights issue, underscoring its intent to strengthen capital and diversify funding sources; additionally, it announced that Hardik Doshi will no longer be classified as senior management personnel following changes in the internal reporting structure.

Capri Global Releases Q3 FY26 Earnings Investor Presentation

Capri Global Capital Limited has announced that it has made available its Q3 FY26 earnings investor presentation to the stock exchanges and on its website, in line with regulatory disclosure requirements under SEBI’s listing regulations. The company has also linked this disclosure to its previously announced earnings conference call scheduled for 2 February 2026, signalling continued engagement and information-sharing with investors and other stakeholders through formal quarterly updates on its financial performance.

Capri Global Profit Nearly Doubles as AUM Jumps 47% in Q3 FY26

Capri Global Capital Limited reported a sharp expansion in its lending franchise in the third quarter of FY26, with consolidated assets under management rising 47.1% year-on-year to ₹30,406 crore, led by strong growth in gold loans (up 80.2%), affordable housing and construction finance. Disbursements surged 87% year-on-year to ₹10,879 crore, while consolidated profit after tax nearly doubled to ₹255 crore, supported by a 65.8% jump in net total income and improved asset quality, as the gross Stage 3 ratio declined to 1.2% and provisioning coverage increased. Key profitability metrics strengthened, with spreads, RoAA and RoAE all improving versus the prior year, although the cost-to-income ratio edged higher sequentially, underscoring continued investment in scaling operations; the robust growth and strong capital position reinforce the company’s position as an aggressive but relatively prudent lender in its core segments.

Capri Global Says Statutory Auditor Converts to LLP Without Affecting Audit Mandate

Capri Global Capital Limited has announced that its statutory auditor, MSKA & Associates, Chartered Accountants, has been converted from a partnership firm into a Limited Liability Partnership under the Limited Liability Partnership Act, 2008, and will now operate as MSKA & Associates LLP with an updated ICAI firm registration number. The company clarified that this structural change for the audit firm does not alter the scope or continuity of its audit engagement, does not amount to a resignation or fresh appointment of auditors, and therefore has no impact on Capri Global’s ongoing statutory audit arrangements or financial reporting processes.

Capri Global’s CRISIL A1+ Rating Reaffirmed as Commercial Paper Limit Raised to Rs 1,500 Crore

Capri Global Capital Limited has had its short-term credit rating of ‘CRISIL A1+’ reaffirmed by CRISIL Ratings Limited and simultaneously secured an enhancement in the limit of its commercial paper programme from Rs 700 crore to Rs 1,500 crore. The strengthened rating position and expanded commercial paper capacity are expected to support the company’s funding flexibility and liquidity profile, potentially enabling it to tap short-term debt markets more efficiently and underpin its competitive standing among Indian non-banking financial companies.