Emerald Finance Understanding Q3 Results.Poor or On track to meet Guidence??

Описание: In this video, we dive deep into the Q3 FY26 results of Emerald Finance Limited, breaking down the numbers behind their "cautious but aggressive" growth strategy. We analyze the massive divergence between their Standalone (NBFC) and Consolidated (Agency) businesses and uncover the real driver behind their surging Fee-Based Income.
Is the Early Wage Access (EWA) product finally scaling? How did the subsidiary disburse ₹105 Crores in Gold Loans in a single month? And most importantly, are they on track to hit their EPS 4+ guidance? Watch to find out!
📊 Key Financial Highlights (Q3 FY26)
• Standalone Revenue: ₹5.30 Cr (+54.5% YoY / +8.4% QoQ)
• Standalone PAT: ₹3.15 Cr (+81.5% YoY) with ~60% Margins!
• Consolidated Revenue: ₹7.80 Cr (+13.0% QoQ)
• Consolidated PAT: ₹4.00 Cr (+11.0% QoQ)
🔍 What We Cover in This Video:
1. Standalone vs. Consolidated Decoded:
• Why the Standalone entity is the "Profit Engine" (79% of total profits) while the Subsidiary is the "Revenue Engine."
• Understanding the "Base Effect" that makes Standalone growth look faster YoY than Consolidated.
2. The "Hidden" Fee Income Story:
• EWA (Early Wage Access): How Fee Income is growing 7x faster than Interest Income in the Standalone book.
• High Velocity Lending: Why borrowings increased by 20% despite the loan book appearing stable—the secret lies in "churn."
3. The Gold Loan Surprise (Subsidiary Powerhouse):
• How the subsidiary (Eclat) disbursed over ₹160 Crores in Gold Loans in Nov & Dec 2025 alone.
• Why this surge spiked revenue but slightly compressed margins due to commission payouts.
4. Guidance Check:
• Management’s target of EPS 4+ for FY26.
• The "8-10x Growth" roadmap via Cross-Selling personal loans to EWA customers.
5. Asset Quality:
• Status on NPAs (virtually zero in Gold Loans, minor write-offs in Business Loans).

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⏱️ Timestamps:
00:00 Introduction
00:31 Standalone vs Consolidated
03:40 Standalone Analysis
04:52 EWA disbursements & Onboarding
06:18 Subsidiary Business
07:50 Other Expanditure and DSA
08:32 Finance Costs & Pat Margins
09:45 Guidence and Performance
10:22 8-10x PAT & Reality
12:58 EPS guidence & Reality
14:04 How should we look overall?
14:58 Expectations from Concall



🔗 Useful Links & Sources: Q2 Concall Analysis
•   • Emerald Finance Q2 and beyond   

📢 Disclaimer: This video is for educational purposes only and does not constitute financial advice. I am not a SEBI registered analyst. Please consult your financial advisor before making any investment decisions.
Tags
#EmeraldFinance #NBFC #StockMarketIndia #SmallCapStocks #EWA #Fintech #Q3Results #Investing #GoldLoans #EclatNetAdvisors