Sentinel Capital
Sentinel Capital Services Limited
- CIN
- U65923MH2006PLC164882
- ISIN
- INE0SEN01027
- Incorporated
- 14 Mar 2006
- Registered state
- Maharashtra
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Business overview
Sentinel Capital Services Limited lends to small businesses, used-commercial-vehicle buyers and salaried borrowers through a branch-led network, from 1,240 branches spread across 19 states, weighted towards tier-2 and tier-3 towns, with assets under management of about ₹68,000 crore and 3.1 million live loan accounts. Roughly 70% of disbursement is secured, and the collections function is in-house rather than outsourced, which has kept credit costs below the sector average through the last two stress cycles. The company is currently at the draft-prospectus stage of a proposed public issue, and shares change hands only through negotiated off-market transfers.
Business model
Spread-based lending funded by bank lines, NCDs and securitisation; fee income from insurance distribution.
Key highlights
- Gross NPA of 2.1% against a five-year average of 2.6%
- Capital adequacy of 19.4%, comfortably above the regulatory floor
- DRHP filed in March 2026; offer includes a fresh issue and a partial promoter offer-for-sale
- Borrowing mix rebalanced towards NCDs from bank term loans
Financial snapshot
FY2026 · Audited · Source: Audited annual report
- Revenue FY2026
- ₹9,640.00 Cr
- EBITDA
- ₹6,180.00 Cr
- PAT
- ₹2,140.00 Cr
- Net worth
- ₹18,420.00 Cr
- Total debt
- ₹62,800.00 Cr
- Cash & equivalents
- ₹5,340.00 Cr
- Operating cash flow
- ₹-4,820.00 Cr
- EPS
- ₹26.00
Management & board
- RNSince 2020
Rakesh Nair
Managing Director & CEO
Has led Sentinel Capital since 2020 and previously held senior operating roles in the same sector.
- PSSince 2018
Pallavi Sinha
Chief Financial Officer
- PPSince 2011
Pallavi Pillai
Executive Director — Operations
- RISince 2021
Ritu Iyer
Company Secretary & Compliance Officer
Reported financials · FY2024–FY2026
Figures in ₹ crore unless stated. Every column carries its own source and audit status.
| Particulars | FY2026Audited | FY2025Audited | FY2024Audited | YoY |
|---|---|---|---|---|
| Profit & loss | ||||
| Revenue | ₹9,640 Cr | ₹7,980 Cr | ₹6,410 Cr | +20.8% |
| EBITDA | ₹6,180 Cr | ₹5,020 Cr | ₹3,960 Cr | +23.1% |
| Profit after tax | ₹2,140 Cr | ₹1,712 Cr | ₹1,284 Cr | +25.0% |
| Earnings per share | ₹26.00 | ₹20.80 | ₹15.60 | — |
| Balance sheet | ||||
| Net worth | ₹18,420 Cr | ₹15,180 Cr | ₹12,640 Cr | +21.3% |
| Total debt | ₹62,800 Cr | ₹51,400 Cr | ₹41,200 Cr | — |
| Cash & equivalents | ₹5,340 Cr | ₹4,210 Cr | ₹3,480 Cr | — |
| Total assets | ₹92,600 Cr | ₹76,800 Cr | ₹61,900 Cr | — |
| Book value per share | ₹224 | ₹184 | ₹154 | — |
| Cash flow | ||||
| Operating cash flow | ₹-4,820 Cr | ₹-6,140 Cr | ₹-5,220 Cr | — |
Scroll the table sideways to see all columns
- FY2026 · Audited annual report · period ended 31 Mar 2026 · last updated in the back office 20 Sep 2026
- FY2025 · Audited annual report · period ended 31 Mar 2025
- FY2024 · Audited annual report · period ended 31 Mar 2024
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio on this tab is derived from the reported figures in the Financials tab and the indicative price in the header — nothing here is a stored value. A ratio that cannot be justified is shown as — with the reason, rather than as a negative or a zero. Ratios move when the indicative price moves.
Size
Balance-sheet items as at FY2026
- Market cap
- ₹85,757 Cr
- Enterprise value
- ₹1.43 L Cr
- Indicative price
- ₹1,042
- Shares outstanding
- 82,30,00,000
Indicative price × shares outstanding
Market cap + debt − cash
Valuation multiples
- P/E
- 40.1x
- P/B
- 4.7x
- EV / EBITDA
- 23.2x
- EPS
- ₹26.00
- Book value / share
- ₹224
- Debt / equity
- 3.4x
On FY2026 PAT
Returns & margins
- ROE
- 11.6%
- ROCE (EBITDA basis)
- 7.6%
- EBITDA margin
- 64.1%
- PAT margin
- 22.2%
- Revenue growth
- 20.8%
- Cash / market cap
- 6.2%
EBITDA ÷ (net worth + debt)
Indicative price snapshots
Each point is a dated dealer-quote average. There is no continuous trading behind these numbers, so no daily series is drawn.
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Snapshot log
| Date | Indicative price | Change | Source |
|---|---|---|---|
| 20 Sep 2026 | ₹1,042 | -3.07% | Dealer desk average, 6 quotes |
| 20 Aug 2026 | ₹1,075 | +2.14% | Dealer desk average |
| 20 Jul 2026 | ₹1,052 | +2.90% | Dealer desk average |
| 20 Jun 2026 | ₹1,023 | +3.76% | Dealer desk average |
| 20 May 2026 | ₹986 | +2.79% | Dealer desk average |
| 20 Apr 2026 | ₹959 | -0.16% | Dealer desk average |
| 20 Mar 2026 | ₹961 | +2.64% | Dealer desk average |
| 20 Feb 2026 | ₹936 | +1.22% | Dealer desk average |
| 20 Jan 2026 | ₹924 | +0.74% | Dealer desk average |
| 20 Dec 2025 | ₹918 | +2.85% | Dealer desk average |
| 20 Nov 2025 | ₹892 | +0.71% | Dealer desk average |
| 20 Oct 2025 | ₹886 | -0.27% | Dealer desk average |
| 20 Sep 2025 | ₹888 | — | Dealer desk average |
Scroll the table sideways to see all columns
Change is measured against the previous snapshot, not against a calendar period, because snapshots are not collected on a fixed schedule. The header percentages use fixed windows and may not tie exactly to this column.
Corporate actions & events
Dated events sourced from company filings and registrar records.
- Board27 Jun 2026
Appointment of an independent director
Board strengthened with an additional independent director following a nomination-committee review.
Company filing / RoC
- Buyback12 Nov 2025
Buyback of equity shares from employees
Liquidity window offered to option holders at a board-determined price.
Company filing / RoC
- Bonus20 Nov 2024
Bonus issue in the ratio 1:2
Board approved a bonus issue; record date notified to shareholders on file.
Company filing / RoC
- Rights18 Feb 2024
Rights issue to existing shareholders
Rights entitlement offered to shareholders on record in the stated ratio.
Company filing / RoC
IPO / listing status
- Current stage
- DRHP filed
- DRHP filed
- 18 Mar 2026
- RHP filed
- —
- Expected window
- Q4 FY2027 (indicative)
- Registrar
- Cygnet Registry Services
- Book-running managers
- Northpoint Capital Advisors, Sterling Securities
Listing timelines are indicative and subject to regulatory approval and market conditions. A filing is not a guarantee of listing.
Lock-in applies after listing
Shares acquired before a public issue are typically subject to a statutory lock-in of six months from the date of listing. Confirm the applicable period before transacting.
Read the lock-in explainerResearch
1 published on this company
Documents
Public documents open directly. Private documents are released to verified clients on request.
| Document | Type | FY / date | Source | Access |
|---|---|---|---|---|
| Draft Red Herring Prospectus18.4 MB | DRHP | 2026 | Regulator filing | Download |
| Annual Report FY20264.2 MB | Annual report | FY2026 | Company | Download |
| Annual Report FY20253.8 MB | Annual report | FY2025 | Company | Download |
| Audited financial statements — three-year summary620 KB | Financials | FY2024–FY2026 | Statutory filings | Download |
| Investor presentation9.1 MB | Presentation | 2026-07-15 | Company | On request |
Scroll the table sideways to see all columns
Risk assessment
Our own reading of the disclosed information. Treat the levels as judgement, not as fact.
Asset quality cycle
HighA rural income shock would hit the unsecured book first.
Funding cost
MediumRate increases compress spread with a two-quarter lag.
Promoter pledge
MediumPart of the promoter holding is pledged against group borrowings.
Risks common to every unlisted holding. You may not find a buyer when you want one, at any price. A listing may be delayed indefinitely or may never happen, and shares can list below the price at which they changed hands in the unlisted market. Disclosure by unlisted companies is thinner than by listed ones, and the indicative price is based on infrequent dealer quotes rather than continuous trading.