Paisalo Digital Ltd. · NSE:PAISALO
Paisalo Digital — Q3 FY2026 Earnings Presentation
57 slides from Paisalo Digital's earnings presentation, 2026
Slide 1: International Investor Presentation Q3 FY 2026
INTERNATIONAL INVESTOR PRESENTATION Q3 FY 2026 INR to USD conversion rate of 89.92 Used across the deck. 1 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 2: Safe Harbor
NSE: Paisalo BSE: Paisalo SAFE Bloomberg: Paisalo:in HARBOR This document contains certain forward – looking statements based on current expectations of Paisalo Digital Limited’s management. Actual Results may vary significantly from the forward - looking statements in this document due to various r
Slide 3: Index
INDEX 01 RESULT SNAPSHOT 02 ABOUT PAISALO 03 STRATEGIC ROADMAP 04 SHAREHOLDING PATTERN 05 FINANCIAL PERFORMANCE 06 ENVIRONMENT SOCIAL GOVERNANCE (ESG) 3 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 4: Result Snapshot
01 RESULT SNAPSHOT Q3 FY 2026 4 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 5: Highlights for the Quarter
Highlights for the Quarter Robust Growth Profitability & Asset Quality Highest ever AUM at $612.57 mn (+16% YoY); disbursement for Net Interest Income was up 19% YoY at $16.16 mn, driving Q3FY26 the quarter came in at $117.59 mn (+7% YoY). PBT of $9.88 mn and a record quarterly profit of $7.37 mn, h
Slide 6: Q3 FY 26 Performance Summary
AUM Portfolio Yield Borrowing Cost $612.57 Mn 16.9% 10.3% +16% YoY Disbursement -94 bps YoY NIM -92 bps YoY Total Income $117.59 Mn 6.6% -2 bps YoY $26.70 Mn +7% YoY +18% YoY Q3 FY 26 Performance Summary ROA Net Worth CAR Collection PAT 3.84% $193.55 Mn 38.3% Effeciency $7.37 Mn +18% YoY Tier 1 - 30
Slide 7: Robust Financial & Operational Performance
Robust Financial & Operational Performance AUM ($ Mn) Disbursement ($ Mn) Customer Franchise (Mn) 14 612.57 145.57 13 606.03 581.94 581.65 122.61 117.59 11 109.61 528.12 9 84.31 8 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3 FY 25 Q4 FY 25 Q1FY26 Q2FY26 Q3FY26 Total Incom
Slide 8: Robust Financial & Operational Performance
Robust Financial & Operational Performance Yield, Spread, Cost of Borrowing (%) RoE & RoA (%) Collection Efficiency (%) 13.9% 13.0% 11.9% 12.6% 99.8% 17.85% 17.23% 11.7% 99.0% 98.8% 98.4% 98.8% 16.94% 17.00% 16.91% 11.26% 10.54% 10.70% 10.48% 10.34% 4.5% 3.9% 6.59% 6.40% 6.53% 6.52% 6.57% 3.7% 3.6%
Slide 9: About Paisalo
02 ABOUT PAISALO Q3 FY 2026 9 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 10: About Us
ABOUT US Bridging the Credit Gap: Connecting unbanked and underserved populations, including MSMEs, to the formal financial ecosystem. 33 22 Accessible & Tailored Loan Offerings: Designed to meet the unique Years of Legacy States and UTs needs of diverse borrower segments. Small Income Generation Lo
Slide 11: At a Glance
At a Glance Focused on Income Generation and MSME/SME loans Scale Distribution Granularity Asset Quality Liability Profitability AUM States & UTs Customer Franchise GNPA Total Borrowings Yield $612.57 Mn 22 ~14 Mn 0.83% $429.04 Mn 16.9% Branches Disbursement Secured Portfolio NNPA Capital Adequacy N
Slide 12: Proven through Cycles, Scaling with Stability
Proven through Cycles, Scaling with Stability Assets Under Management ($ Mn) Credit Rating States Touch Points A+/Stable 10 100+ $612.57 Mn AUM AA-/Stable 18 1,000+ and scaling with ~20% CAGR (FY20 - FY25) AA/Stable/A1+ 22 4,300+ First FCCB Issuance of USD 50 Mn BC* partnership with Raised SBI & Ban
Slide 13: Q3 FY 2026
03 Q3 FY 2026 13 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 14: AI Remains Core to Paisalo Strategy
AI REMAINS CORE TO P AI SALO STRATEGY Transitioning to an AI-Led Franchise Customer Portfolio Underwriting Acquisition Management Building an Intelligent, efficient & Scalable Lending Engine Lead Generation • Proprietary + AA enabled data • AI models detect stress • AI-powered sourcing build borrowe
Slide 15: Building a Scalable Phygital Acquisition Engine with AI
Building a Scalable Phygital Acquisition Engine with AI at the Core AI Based Lead Generation Customer App (Upcoming) (Upcoming) Distribution Partners Branch Business Correspondents Phygital Sourcing Website AI Calling Mobile Application AI That Finds the Right Borrower, From Days to Minutes – AI Mak
Slide 16: From Digitisation to AI-Led Field Intelligence
From Digitisation to AI-Led Field Intelligence Scaling Growth Through End-to-End AI Integration in Customer Sourcing and Onboarding BC Application with AI Integration (Upcoming) Branch Application with AI Integration (Upcoming) 16 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 17: Credit Underwriting
Credit Underwriting Disciplined Credit Underwriting powered by Data and AI Machine generates multiple data features from an applicant’s bureau record and bank statement GST BUREAU BANKING Turnover and History of high-cost transaction intensity debt/credit card usage The system generates a unified cu
Slide 18: Portfolio Management
Portfolio Management Driving Scalability through Integrated Technology Solutions Tech Infra Integrated Services Data Analytics GenAI based Migration to MeitY: Seamless API Integrations: AutoML pipelines: Calling Planning in progress for migration to Real-time connectivity with thirdparty End-to-end
Slide 19: Paisalo's Three-Year Strategic Roadmap
PAISALO’s Three-Year Strategic Roadmap Last-Mile Scale Broadening Expand Optimizing Cost Product Suite Geographically of Capital Scaling of MSME & Accelerating Structural Transitioning from diversification of small income presence in existing High Touch – High balance-sheet generation loans states a
Slide 20: Our Core Pillars
Our Core Pillars 02 04 Engage and transact Structural diversification without friction to of balance sheet deliver a sustainable, leverage to reduce cost multi-channel of capital, and distribution model with deepening partnerships 4,872 touchpoints and with institutions. reach in 22 states/UTs. High
Slide 21: Disruption
3.1 DISRUPTION Revolutionizing and Disrupting Credit Q3 FY 2026 21 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 22: Small Income Generation Loans: The Opportunity
Small Income Generation Loans: The Opportunity THE PROBLEM India Target Market Population Low availability of small loans from Income Tax Population Financial Institutions. Pan Holders (Having PAN High operational cost of banks, inhibits but no credit lending volumes on small loans. history) High bo
Slide 23: MSME Loans: The Opportunity
MSME LOANS: THE OPPORTUNITY THE PROBLEM $1,534.69 Bn India’s GDP to reach USD 5 trillion; MSME to grow USD ~2 trillion by FY2028 Overall MSME Credit Addressable Market MSME sector is the key to India’s ‘Employment Generation’, making it one of the Central themes of Government in the last decade MSME
Slide 24: Our Tailored Loan Offerings
Our Tailored Loan Offerings Loan Offerings Small Income Generation SME/MSME Vikas Loan Pragati Loan Gati Loan Raftaar Loan Udaan Loan Umeed Loan Do ka Dum Loan Ready Steady SME/MSME Go Loan 2nd Time Borrowers Two-Wheelers for Vehicles for Small Business Loans (Existing To Credit) Small Businesses &
Slide 25: Broadening Product Suite
Broadening Product Suite Broadening MSME & Income Generation Product Suite via Asset Light Expansion of Institutional Partnerships Product Suite Small Income SCV Industrial Generation Equipment LAP Agri Equipment 3-Wheeler Alternative Fuel Medical based Mobility Business Loans Solar Equipment Equipm
Slide 26: Scaling Loan Book with Sustained Disbursals
Scaling Loan Book with Sustained Disbursals AUM expands by 16% YoY to $612.57 mn in 9MFY26, with steady expansion across segments AUM Breakup ($ Mn) Other Income Generation 171.82 166.04 7% Other MSME/SMEs 101.07 Food & Hospitality 57.36 415.90 12% 24% 52.09 338.19 287.37 242.60 Vehicle 205.67 3% FY
Slide 27: High Tech: High Touch
3.2 HIGH TECH : HIGH TOUCH Engage and transact without friction Q3 FY 2026 27 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 28: High Tech: From Onboarding to Collection
High Tech: From Onboarding to Collection Operational capabilities backed by robust tech infrastructure Digital Onboarding Loan Origination (LOS) Loan Servicing Collection Management Digitizing loan life cycle management Analytics-based Business Rule Engine Disbursal and repayment schedule Enabling r
Slide 29: High-Touch: Pan India Network
High-Touch: Pan India Network Accelerating presence in existing high-potential states while expanding into new, contiguous markets….. State wise portfolio breakup (%) Delhi 28.8% Uttar Pradesh 12.9% Maharashtra 17.4% Haryana 18.3% Rajasthan 14.5% Others 8.2% Customer Franchise (Mn) 14 9 Touch Points
Slide 30: Scalable and Successful Platform
Scalable and Successful Platform …..through a mix of branch led and asset light touchpoints expansion Branches Distribution touchpoints Business Correspondents 402 3,041 1,429 1,314 351 279 973 1,900 220 1,203 432 400 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 Critical on-grou
Slide 31: Business Correspondent
Business Correspondent Strategic collaboration with local communities to enhance customer reach and gain market share Business Correspondent (BC) By leveraging trusted local Services offered as Business Correspondent channel is central to Paisalo’s partnerships, the BC network strategy to drive fina
Slide 32: Underwriting & Risk Management
3.3 UNDERWRITING & RISK MANAGEMENT Q3 FY 2026 32 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 33: Paisalo's CCC Model to Underwriting
Paisalo’s CCC Model to Underwriting Paisalo’s CCC Geo-Spatial mapping Field Investigation Moral integrity Discipline towards repayment Use of AI/ML models to assess Behavioural pattern digital footprints Character Pre-mapped Income to Account Aggregator KPI check business activity as per borrower ty
Slide 34: Underwriting and Risk Management
Underwriting and Risk Management Target market evaluation challenges call for a nuanced, proprietary underwriting approach Lack of Traditional Absence of Formal Credit History (Bureau Data) Income Proof (No ITR) Build detailed understanding of customer via field visits by RM & mapped to On-ground ve
Slide 35: Robust Collection Efficiency
Robust Collection Efficiency In-House, Debt Management Infrastructure High Collection Efficiency (%) Debt Management Infrastructure 98.7% 98.4% 98.8% 98.8% 97.8% 96.1% Pre-defined collection Back-end Collections Branch Manager and path for Field Staff Support Legal support Automated Collection Regio
Slide 36: Asset Quality
Asset Quality Strong Debt Management Infrastructure and Risk Mitigation measures ensuring robust Asset Quality GNPA (%) 1.52% 1.10% 0.99% 0.99% 0.85% 0.83% 0.81% 0.83% 0.72% 0.25% 0.21% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 FY21 FY22 FY23 FY24 FY25 9MFY26 NNPA (%) 1.26% 0.84% 0.76% 0.76% 0.66% 0.68% 0.
Slide 37: Liability
3.4 LIABILITY Q3 FY 2026 37 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 38: Diversifying Leverage to Drive Cost Efficiency
Diversifying Leverage to Drive Cost Efficiency Borrowing Mix and Cost of Borrowing Diverse Lender Base 13.0% 12.6% 11.2% 10.9% Public Sector Banks Private Banks 10.5% 10.3% 1.4% 3% 3% 10% 28% 28% 23% 12% 24% 22% 16% 72% 72% 77% 74% 69% 67% FY21 FY22 FY23 FY24 FY25 9MFY26 Banks and FIs NCDs FCCBs Com
Slide 39: Co-lending Partnerships to Support Expansion
Co-lending Partnerships to Support Expansion Operational Arrangements Collaboration with banks for sourcing, servicing and recovery. Benefits to Paisalo Benefits to Partner Institution Risk and Rewards Sharing Higher ROA & ROE on account of better leverage Lower Cost of Capital with Co-lending invol
Slide 40: Prudent ALM
Prudent ALM Positive Asset Liability Management across Buckets 261.88 Maintaining a consistently positive ALM gap which strengthens the company’s 180.23 liquidity position and reduces refinancing risk. 164.48 129.06 82.44 57.95 Positions the company to meet all debt obligations < 6 Months < 1 Year <
Slide 41: Leadership
3.5 LEADERSHIP Q3 FY 2026 41 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 42: Backed by Experienced Board
Backed by Experienced Board SUNIL AGARWAL SANTANU AGARWAL VINOD KUMAR HARISH SINGH ANOOP KRISHNA Managing Director Deputy Managing Director Executive Director Executive Director Executive Director 33 years of experience, B.Com LLB, played a pivotal A seasoned banking professional MBA, Chartered Acco
Slide 43: Experienced & Professional Management
Experienced & Professional Management Harish Singh Anurag Sinha Gaurav Chaubey Samresh Agarwal Manendra Singh Chief Financial Officer & ED COO & CISO Chief Risk Officer Chief Recovery Officer Chief Compliance Officer 21 15 35+ 40 19 28 26 18 8 Ex-ICICI, Kotak Rajeev Seth BVSKT Bhaskar Anuj Bhatnagar
Slide 44: Shareholding Pattern
04 SHAREHOLDING PATTERN Q3 FY 2026 44 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 45: Shareholding Structure
Shareholding Structure $365.88 Mn ~910 Mn ~112k 10% Dividend Market Capitalization Outstanding Shares Shareholders Others, Key Institutional Investors 30.48% Promoter and SBI Life Insurance LIC Life Insurance Promoter Group, 41.75% As of Maybank Securities Sparrow Asia Fund December 2025 Quadrature
Slide 46: Shareholding Movement
Shareholding Movement Promoters have continuously increased their stake over time Total Shares Outstanding (Mn) 898 898 902 910 846 846 878 811 123.8 128.9 136.4 130.0 134.0 188.9 275.3 Others 109.3 216.6 211.5 176.0 154.1 144.6 167.2 140.3 Institutions 259.9 268.6 238.6 GDR* 336.6 268.6 268.6 336.6
Slide 47: Financial Performance
05 FINANCIAL PERFORMANCE Q3 FY 2026 47 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 48: Profit & Loss Summary
Profit & Loss Summary Particulars Q3FY26 Q3FY25 Q2FY26 YoY% QoQ% 9MFY26 9MFY25 YoY% Interest Income ($ Mn) 27.09 20.21 23.10 34% 17% 72.52 57.20 27% Total Income ($ Mn) 26.70 22.66 24.91 18% 7% 75.93 64.20 18% Interest Expense ($ Mn) 10.53 9.13 10.88 15% (3%) 31.90 26.97 18% Net Interest Income ($ M
Slide 49: RoE Tree
RoE Tree On Total Assets (%) Q3FY26 Q3FY25 Q2FY26 FY25 Interest Income 15.2% 14.6% 14.7% 13.3% Non-Interest income 0.7% 1.8% 1.2% 1.4% Total Income 15.9% 16.4% 15.9% 14.7% Interest Expense 6.7% 6.9% 6.9% 6.2% Net Interest Income 8.5% 7.7% 7.8% 7.0% Net Total Income 9.2% 9.5% 9.0% 8.4% Operating Expe
Slide 50: Balance Sheet Summary
Balance Sheet Summary Particulars As on 31st December, 2025 As on 30th September, 2025 Assets ($ Mn) Cash and Bank Balances 12.18 6.31 Receivables 2.87 3.08 Loan Assets 594.74 583.77 Investments 2.24 10.06 Other Financial Assets 14.40 5.18 Current & Deferred Tax Assets (Net) - 0.95 Property, Plant a
Slide 51: Financial Performance over the years
Financial Performance over the years Particulars FY2021 FY2022 FY2023 FY2024 FY2025 9MFY2026 Operational Information AUM ($ Mn) 257.77 299.96 388.43 510.01 581.94 612.57 Disbu$ement ($ Mn) 158.34 181.76 289.10 399.27 413.68 324.51 Number of Touch Points 132 133 1,052 2,455 3,565 4,872 Number of Empl
Slide 52: ESG
06 ESG Q3 FY 2026 52 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 53: Stepping up on Measurement, Disclosures & Transparency
Stepping up on Measurement, Disclosures & Transparency Sustainability Reporting FY’24 - Inaugural Sustainability Report. - Reported in reference to GRI framework. - Captured Impact on the “3P Framework” – “Purpose, Partnerships & Prosperity”. - Introduced Impact Strategy through “Theory of Change”.
Slide 54: Our Triple A Strategy
Our Triple A Strategy At Paisalo, we offer a range of lending solutions—from income generation and mobility loans to entrepreneurial and enterprise finance-that empower individuals and businesses across India. Our work is guided by the Triple A strategy of Accessibility, Affordability, and Awareness
Slide 55: Our Progress on Triple A Strategy
“Our Progress on Triple A Strategy” Number of Electric Vehicles financed Number of small and medium Lives Impacted (in Mn) enterprises supported 2,141 2,433 14 13 11 1,132 934 678 678 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 55 International Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 56: Our Progress on Triple A Strategy
Our Progress on Triple A Strategy Accessibility Q1 FY26 Q2 FY26 Q3 FY26 Number of Pin codes served 9,968 10,299 10,334 Number of states served 22 22 22 Touchpoints 3,997 4,380 4,872 Customers served by BC Channel 1.48 Mn 1.74 Mn 1.61 Mn Women customers served 89% 90% 90% Affordability Cashless Colle
Slide 57: Thank You
T H A N K Y O U For further information, please contact: Investor Relations Team ir@paisalo.in 57 International Investor Presentation Q3 FY 2026 www.paisalo.in