India Monetary Policy RBI MPC Decisions — May 20, 2026

20-05-2026

For the quarter ended March 31, 2026, Sammaan Capital reported a net loss of ₹8,101.41 crore (EPS -₹99.10) from a total income of ₹1,361.32 crore, compared to a profit of ₹324.04 crore in the same quarter last year. The massive loss was driven by exceptional items of ₹6,499.17 crore and an impairment charge of ₹2,958.08 crore, reflecting a strategic portfolio repositioning. Full year net loss widened to ₹7,144.56 crore from ₹1,807.46 crore in FY25, while revenue from operations declined to ₹8,166.16 crore from ₹8,623.33 crore. However, the company raised ₹8,850 crore through a preferential issue from IHC, received multiple credit rating upgrades (CRISIL AA+/Stable, CARE AA+/Stable), and the Board approved raising up to ₹10,000 crore via debt instruments.

• · Audit reports issued with unmodified opinion on standalone and consolidated financial statements.
• · No deviation or variation in utilisation of proceeds from issue of equity shares and NCDs during Q4 FY26.
• · Security cover certificate for Q4 FY26 filed under Regulation 54.
• · Joint Statutory Auditors issued unmodified audit reports.
• · Moody's upgraded long-term CFR to B1 with positive outlook.
• · CRISIL upgraded rating to CRISIL AA+/Stable.
• · CARE upgraded long-term debt to CARE AA+/Stable, CP reaffirmed at CARE A1+, perpetual debt upgraded to CARE AA/Stable.
• · Net gain on fair value changes doubled YoY in FY26 (₹969.33 Cr vs ₹535.60 Cr).
• · Impairment on financial instruments in FY26 declined to ₹3,627.94 Cr from ₹5,068.50 Cr YoY, but Q4 FY26 saw a massive spike.
• · Share capital increased from ₹162.70 Cr to ₹228.76 Cr due to preferential allotment.
• · Basic EPS for FY26: -₹87.72 (vs -₹26.70 in FY25); Diluted EPS: -₹87.72 (vs -₹26.70).

20-05-2026

Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and net profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter (₹23,637 million), and EBITDA for the quarter was ₹5,935 million versus ₹5,955 million in Q3 FY2026, indicating a slight sequential decline. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5), approved the re-appointment of Dr. Prathap C Reddy as Executive Chairman for two more years, and approved a transaction to divest stakes in Apollo Specialty Hospitals Private Limited and Apollo Fertility Centre Private Limited to Kids Clinic India Limited for an enterprise value of approximately ₹15,500 million (₹7,650 million cash + 9.9% equity stake).

• · Standalone EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25 (13.9% YoY growth).
• · Standalone total comprehensive income for FY2025-26 was ₹14,810 million, up from ₹12,965 million in FY2024-25.
• · Standalone basic EPS for FY2025-26 was ₹103.81, compared to ₹90.15 in FY2024-25.
• · Standalone borrowings (non-current + current) increased from ₹17,832.2 million at March 31, 2025 to ₹18,222.2 million at March 31, 2026.
• · The Board approved the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company via NCLT route.
• · The company's credit ratings: ICRA AAA and Crisil AA+.
• · No debt securities were issued during the year.
• · The AGM is scheduled for August 25, 2026 via video conferencing; record date for dividend and AGM is August 14, 2026; dividend payment on or before September 10, 2026.

20-05-2026

Sammaan Capital Limited (formerly Indiabulls Housing Finance) reported audited consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The results include a significant exceptional loss of ₹6,499.17 crore and other comprehensive loss of ₹652.78 crore due to a change in business model for a pool of loan exposures and sale to an ARC. The Board also approved an enabling resolution to raise up to ₹10,000 crore through debt instruments or ECBs.

• · Audited standalone and consolidated financial results for quarter and year ended March 31, 2026, with unmodified audit opinion.
• · Board meeting held on May 20, 2026, commenced at 2:00 PM and concluded at 3:30 PM.
• · No deviation or variation in utilization of proceeds from issue of equity shares and non-convertible debentures during the quarter.
• · Certificate of Security Cover for the quarter ended March 31, 2026, filed pursuant to Regulation 54.
• · Management overlay recognized over and above ECL provision, approved by Board on March 30, 2026 and May 15, 2026.

20-05-2026

Apollo Hospitals Enterprise reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and net profit of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter's ₹23,637 million, and EBITDA margin declined sequentially. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5), approved the divestment of Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India for an enterprise value of ₹15,500 million, and approved the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company.

• · EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25.
• · Q4 FY2026 EBITDA was ₹5,935 million, compared to ₹5,955 million in Q3 FY2026 (flat).
• · Total standalone income for FY2025-26 was ₹96,980 million, up from ₹85,498 million.
• · Finance costs for FY2025-26 were ₹2,417 million, down from ₹2,540 million in FY2024-25.
• · The company's credit rating is AAA from ICRA and AA+ from Crisil.
• · Record date for dividend and AGM is August 14, 2026; AGM on August 25, 2026; dividend payment by September 10, 2026.
• · Re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026, subject to shareholder approval.
• · Re-appointment of Ms. Rama Bijapurkar as Independent Director for second term from November 12, 2026 to November 11, 2031, subject to special resolution.
• · Merger of Apollo Hospitals North Ltd into the company subject to NCLT and other approvals.
• · No debt securities issued during the year.

20-05-2026

Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter's ₹23,637 million, indicating a slowdown. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5) and approved the divestment of subsidiaries Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India for an enterprise value of ₹15,500 million, as well as the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company.

• · Standalone EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25.
• · Standalone total income for FY2025-26 was ₹96,980 million, up from ₹85,498 million.
• · Standalone total expenses for FY2025-26 were ₹77,403 million, up from ₹68,613 million.
• · Standalone finance costs for FY2025-26 were ₹2,417 million, down from ₹2,540 million.
• · Standalone other income for FY2025-26 was ₹3,718 million, up from ₹3,477 million.
• · The Board approved re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026.
• · The Board approved re-appointment of Ms. Rama Bijapurkar as Independent Director for a second term of five years from November 12, 2026 to November 11, 2031.
• · Record date for dividend and AGM is August 14, 2026; AGM on August 25, 2026; dividend payment on or before September 10, 2026.
• · Credit rating: AAA by ICRA Ltd and AA+ by Crisil Ltd.
• · No borrowings by way of issuance of debt securities during the year.

20-05-2026

Apollo Hospitals Enterprise Limited reported consolidated revenue of ₹66,055 Mio for Q4 FY26, up 18% YoY, and EBITDA of ₹10,109 Mio (15.3% margin), up 31% YoY. However, the Digital Health segment (Apollo HealthCo) posted a cash loss of ₹16 Cr for the quarter (excluding ESOP charges), and the Online Pharmacy Distribution segment reported an EBITDA loss of ₹391 Mio vs. a loss of ₹1,253 Mio in Q4 FY25. Overall PAT grew 36% YoY to ₹5,292 Mio, but Healthcare Services PAT growth was only 7% due to tax reversals in the prior year.

• · Healthcare Services segment reported 156,728 in-patients in Q4 FY26, up 7% YoY.
• · Average Revenue per In-patient (ARPIP) was ₹187,208, up 9% YoY.
• · Overall occupancy was 68%, with established units at 69%.
• · Apollo 24|7 had 47 Mn+ registered users and ~9 Lacs daily active users.
• · Offline Pharmacy Distribution operated 7,289 stores as of March 31, 2026.
• · Online Pharmacy Distribution EBITDA loss narrowed to ₹391 Mio from ₹1,253 Mio in Q4 FY25.
• · AHLL's Mother & Child and Fertility businesses valued at INR 1,550 Crore in a combination of cash and 9.9% equity stake in the combined entity (subject to CII approval).
• · AHLL operates 316 clinics, 2,501 diagnostics centers, 167 dialysis centers, and 280 dental centers.
• · Consolidated revenue for FY26 was ₹252,285 Mio (up 16% YoY), EBITDA ₹37,693 Mio (up 25% YoY), PAT ₹19,415 Mio (up 34% YoY).
• · Healthcare Services PAT growth of 7% in Q4 FY26 was impacted by tax reversals/adjustments in Q4 FY25.

20-05-2026

The RBI has announced an Overnight Variable Rate Repo (VRR) auction under the Liquidity Adjustment Facility (LAF) on May 21, 2026, to address current liquidity conditions. This is a liquidity management operation, not a policy rate change, and does not alter the repo rate, reverse repo rate, CRR, or SLR. The auction aims to inject short-term liquidity into the banking system, indicating a deficit situation, but no specific auction amount or other macroeconomic projections are disclosed.

• · The auction is scheduled for May 21, 2026, but the amount is NOT_DISCLOSED.
• · No change to repo rate, reverse repo rate, CRR, or SLR is mentioned.
• · No MPC vote split or stance change is disclosed.
• · No inflation or GDP growth projections are provided.

20-05-2026

The filing from the RBI provides a snapshot of money market operations on May 19, 2026, but does not contain any explicit rate changes, monetary policy stance, or regulatory actions. The data is limited to operational metrics such as call money rates, outstanding amounts, and volumes across various instruments. No changes to repo, reverse repo, CRR, or SLR are disclosed, and no MPC stance or banking norms are mentioned. The filing is purely informational with no directional impact on banking operations or sector-wide effects.

• · Weighted average call money rate was 6.5% on May 19, 2026.
• · Weighted average notice money rate was 6.3% on May 19, 2026.
• · Call money market had 25 participants on May 19, 2026.
• · No changes to repo rate, reverse repo rate, CRR, or SLR were disclosed.
• · No MPC stance or regulatory actions were mentioned.