Creditaccess Grameen Ltd. · NSE:CREDITACC
Creditaccess Grameen — Q3 FY2022 Earnings Presentation
56 slides from Creditaccess Grameen's earnings presentation, February 2022
Slide 1: CreditAccess Grameen Limited Q3 & 9M FY22 Investor Presentation
CreditAccess Grameen Limited Q3 & 9M FY22 Investor Presentation February 2022 www.creditaccessgrameen.in
Slide 2: Disclaimer
Disclaimer By accessing this presentation, you agree to be bound by the following terms and conditions. This presentation (which may reflect some price sensitive information in terms of SEBI regulations and Companies Act, 2013, as amended from time to time) has been prepared by CreditAccess Grameen
Slide 3: Discussion Summary
Discussion Summary Key Business Updates Consolidated Overview CA Grameen: Financial Metrics MMFL: Financial Metrics Investment Rationale Annexure Note: The presentation includes certain provisional figures for January 2022 which are yet to be approved by the Audit Committee, Statutory Auditors and t
Slide 4: Recent Awards & Recognitions
Recent Awards & Recognitions ‘Great Place to Work’ Certification www.creditaccessgrameen.in 4
Slide 5: Key Consolidated Business Highlights – Q3 FY22
Key Consolidated Business Highlights – Q3 FY22 Business Growth Momentum Maintained in Q3 FY22 Improving Asset Quality, Adequate Provisioning, Focus on Recoveries GLP grew by 18.4% YoY and 9.4% QoQ to INR 14,587 Cr CA Grameen: • CA Grameen: INR 12,180 Cr (+19.4% YoY, +8.9% QoQ) • MMFL: INR 2,406 Cr (
Slide 6: Key Consolidated Business Highlights – January 2022
Key Consolidated Business Highlights – January 2022 CA Grameen MMFL GLP INR 12,688 Cr INR 2,572 Cr INR 15,260 Cr (+19.5% YoY) (+19.9% YoY) Disbursements INR 1,422 Cr INR 367 Cr INR 1,789 Cr (+7.7% YoY) (+110.6% YoY ) New Borrower Additions 75,242 9,384 84,626 95.6% / 99%1 excl. arrears 90% / 92%1 ex
Slide 7: Navigating the Impact of COVID 2.0 (CA Grameen) (1/2)
Navigating the Impact of COVID 2.0 (CA Grameen) (1/2) Consistent MoM Improvement in Collections Disbursements Back in Growth Trajectory INR Cr 99% 98% 97% 98% 97% 98% 3,866 95.0% 94.5% 95.6% 92.3% 94.3% 94.3% 2,722 1,237 1,485 1,422 1,144 Q2 FY22 Oct21 Nov-21 Dec-21 Q3 FY22 Jan-22 Q2 FY22 Oct-21 Nov
Slide 8: Navigating the Impact of COVID 2.0 (CA Grameen) (2/2)
Navigating the Impact of COVID 2.0 (CA Grameen) (2/2) Consistent Decline in PAR backed by Improvement in Collections during Jun-21 to Jan-22 PAR 0 PAR 30 PAR 60 PAR 90 30.6% 11.5% 13.8% 9.9% 9.1% 6.8% 6.4% 7.8% 8.5% 8.0% 7.4% 6.6% 6.5% 6.4% 5.6% 5.4% 4.8% 4.8% 5.4% 5.5% 5.6% 3.8% 4.2% 4.2% Jun-21 Se
Slide 9: Focus on Increasing Borrower Retention (CA Grameen)
Focus on Increasing Borrower Retention (CA Grameen) Supporting the Retained / Higher Vintage Borrowers, whilst consciously Adding New Borrowers with Deep Rural Focus 1 Share of Borrowers with 3+ Years Vintage Increased to 48% in Dec-21 Avg. GLP Per Borrower will Gradually Stabilize with 3 Higher Bor
Slide 10: Early Risk Recognition & Conservative Provisioning (CA Grameen)
Early Risk Recognition & Conservative Provisioning (CA Grameen) CA Grameen adopts Conservative Approach leading to Early Recognition of Risk backed by Adequate Provisioning Coverage INR Cr CA Grameen Policy (IND-AS) NBFC Industry Norms (IND-AS) Q3 FY22 Asset Additional EAD Asset EAD% ECL% Classifica
Slide 11: Update on Collections & Delinquencies at MMFL
Update on Collections & Delinquencies at MMFL MoM Improvement in Collection Efficiency Disbursements Back in Growth Trajectory INR Cr % GLP of Non-Paying Groups 854 CE% (excl. arrears) CE% (incl. arrears) 91% 92% 90% 89% 90% 90% No Payment 3.6% 4.1% 87% 87% 89% 88% 12.9% 11.6% 477 Partial 360 367 Pa
Slide 12: Building Adequate Provisioning at MMFL
Building Adequate Provisioning at MMFL Provisioning policy at MMFL has now been aligned with CA Grameen, recognizing GNPA at 60+ dpd INR Cr CA Grameen Policy (IND-AS) NBFC Industry Norms (IND-AS) Q3 FY22 Asset Additional EAD Asset EAD% ECL% Classification EAD EAD% ECL% ECL vs. (INR Cr) Classificatio
Slide 13: FY22 Business Guidance: Key Indicators
FY22 Business Guidance: Key Indicators Key Indicators – FY22 Q3 FY22 9M FY22 Consolidated Guidance Performance Performance GLP – Growth % 17% - 19% 18.4% 18.4% Credit Cost (Provisions + 0.9% 3.6% Write-offs) - % of Avg. On- 4.7% - 4.9% (non annualized) (non annualized) Book Loan Portfolio Return on
Slide 14: Discussion Summary
Discussion Summary Key Business Updates Consolidated Results Overview CA Grameen: Financial Metrics MMFL: Financial Metrics Investment Rationale Annexure www.creditaccessgrameen.in 14
Slide 15: Q3 FY22: Consolidated Performance Highlights
Q3 FY22: Consolidated Performance Highlights NIM Cost/Income Ratio 11.4%/ 12.1%1/ 12.3%2 39.3% PPOP GLP: INR 14,587 Cr INR 274 Cr (+18.4% YoY) Weighted Avg. COB Opex/GLP Ratio (+60.6% YoY) 9.4% 5.1% ROA Capital Adequacy Ratio Total Equity 3.0% 24.8% INR 3,991 Cr PAT: INR 117 Cr (+247.9% YoY) ROE Tie
Slide 16: Q3 & 9M FY22: Consolidated P&L Statement
Q3 & 9M FY22: Consolidated P&L Statement Profit & Loss Statement (INR Cr) Q3 FY22 Q3 FY21 YoY% Q2 FY22 QoQ% 9M FY22 9M FY21 YoY% FY21 Interest income 654.1 513.2 27.4% 597.4 9.5% 1,838.9 1,678.1 9.6% 2,290.0 - Interest on Loans 1 647.6 502.2 29.0% 588.1 10.1% 1,811.3 1,649.3 9.8% 2,251.5 - Income fr
Slide 17: Q3 & 9M FY22: Consolidated Balance Sheet
Q3 & 9M FY22: Consolidated Balance Sheet Balance Sheet (INR Cr) Q3 FY22 Q3 FY21 YoY% Q2 FY22 QoQ% 9M FY22 9M FY21 FY21 Cash & Other Bank Balances 1,625.3 1,586.9 2.4% 1,515.9 7.2% 1,625.3 1,586.9 2,484.4 Investment in Mutual Funds 0.0 0.0 - 107.0 - 0.0 0.0 0.0 Loans - Balance sheet assets (Net of Im
Slide 18: Q3 & 9M FY22: Understanding the Credit Cost Impact
Q3 & 9M FY22: Understanding the Credit Cost Impact Consolidated (INR Cr) Q3 FY22 9M FY22 Opening ECL - (A) 742.9 622.6 Additions (B) - Provisions as per ECL 50.6 319.2 Reversals (on account of write-off) (C) 122.5 271.7 Closing ECL (D = A+B-C) 671.0 671.0 Write-off (E) 189.9 398.3 Credit Cost (F = B
Slide 19: Q3 FY22: Continued Business Traction With Rural Focus
Q3 FY22: Continued Business Traction With Rural Focus Gross Loan Portfolio (GLP) (INR Cr) Borrowers (‘000) 18.4% -4.3% 14,587 13,587 13,333 12,664 2,406 3,906* 3,912* 12,321 3,785* 3,751* 3,739* 2,246 2,148 2,038 2,118 1,131 1,098 1,050 1,045 963 12,180 11,341 11,185 10,203 10,625 2,837 2,871 2,788
Slide 20: Q3 FY22: Consistent Growth In Infrastructure
Q3 FY22: Consistent Growth In Infrastructure Branches 204 Branches Opened: Jan-21 to Dec-21 States Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Bihar 5 - 15 20 1,545 1,593 Chhattisgarh - - 5 - 1,389 1,424 1,424 Gujarat 5 - 10 12 464 467 Jharkhand 5 - 10 - 460 460 460 Madhya Pradesh 5 - 10 - Kerala - - 5 - 1,081
Slide 21: Q3 FY22: Sustainable Operational Efficiency
Q3 FY22: Sustainable Operational Efficiency GLP / Branch (INR Cr) GLP / Loan Officer (INR Cr) 4.9 5.2 4.6 4.4 4.6 1.1 1.0 1.0 0.9 0.8 11.0 11.8 11.0 10.3 10.8 1.3 1.5 1.4 1.4 1.5 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 CA Grameen MMFL CA Grameen MMFL Borrowers
Slide 22: Q3 FY22: Product Range To Meet Diverse Customer Needs
Q3 FY22: Product Range To Meet Diverse Customer Needs GLP - Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Product Mix (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total IGL (Incl. MMFL) 11,499 93% 12,838 94% 11,962 94% 12,613 95% 13,894 95% Family Welfare 3
Slide 23: Q3 FY22: Well-Diversified Presence Across India
Q3 FY22: Well-Diversified Presence Across India Our Presence as on Dec-21 14 States / 1 UT Diversification Trend Mar-18 Mar-20 Dec-21 312 Districts 1,593 Branches Uttar Pradesh Branches - % Share 55 Top 3 States 80% 69% 61% Rajasthan Bihar 55 Others 20% 31% 39% 60 + 36 (MMFL) Total 100% 100% 100% Gu
Slide 24: Q3 FY22: District Wise Exposure Trend
Q3 FY22: District Wise Exposure Trend Consolidated Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Exposure of Districts No. of % of Total No. of % of Total No. of % of Total No. of % of Total No. of % of Total (% of GLP) Districts Districts Districts Districts Districts Districts Districts Districts Distri
Slide 25: Discussion Summary
Discussion Summary Key Business Updates Consolidated Results Overview CA Grameen: Financial Metrics MMFL: Financial Metrics Investment Rationale Annexure www.creditaccessgrameen.in 25
Slide 26: Q3 FY22: CA Grameen Standalone Performance Highlights
Q3 FY22: CA Grameen Standalone Performance Highlights NIM Cost/Income Ratio 11.7%/ 12.3%1/ 12.4%2 36.1% PPOP GLP: INR 12,180 Cr INR 247 Cr (+19.4% YoY) Weighted Avg. COB Opex/GLP Ratio (+67.1% YoY) 9.2% 4.7% ROA Capital Adequacy Ratio Total Equity 3.8% 29.4% INR 3,863 Cr PAT: INR 129 Cr (+280.4% YoY
Slide 27: Q3 FY22: CA Grameen Standalone P&L Statement
Q3 FY22: CA Grameen Standalone P&L Statement Profit & Loss Statement (INR Cr) Q3 FY22 Q3 FY21 YoY% Q2 FY22 QoQ% 9M FY22 9M FY21 YoY% FY21 Interest income 544.9 413.0 31.9% 492.0 10.7% 1,520.5 1,366.6 11.3% 1,877.1 - Interest on Loans 1 539.6 406.8 32.6% 485.2 11.2% 1,500.1 1,353,9 10.8% 1,858.2 - In
Slide 28: Q3 FY22: CA Grameen Standalone Balance Sheet
Q3 FY22: CA Grameen Standalone Balance Sheet Balance Sheet (INR Cr) Q3 FY22 Q3 FY21 YoY% Q2 FY22 QoQ% 9M FY22 9M FY21 FY21 Cash & Other Bank Balances 1,367.8 1,322.6 3.4% 1,260.0 8.6% 1,367.8 1,322.6 1,946.0 Investment in Mutual Funds 0.0 0.0 - 107.0 - 0.0 0.0 0.0 Loans- Balance sheet assets (Net of
Slide 29: Q3 FY22: Well-Diversified Liability Mix
Q3 FY22: Well-Diversified Liability Mix Liability Mix - Institution / Instrument Wise (%) Focus on dynamic liability management • Focus on long-term funding with strong diversification between Bank - NCD domestic & foreign sources 8.2% NBFCs - TL Banks - TL 1.9% • Target to meet funding requirement
Slide 30: Q3 FY22: Stable Liquidity/ALM Position
Q3 FY22: Stable Liquidity/ALM Position Static Liquidity / ALM Position For the Month For the Financial Year Debt Drawdowns (INR Cr) Q3 FY22 Particulars (INR Cr) Jan-22 Feb-22 Mar-22 FY22 FY23 Banks – TL 2,131.0 Opening Cash & Equivalents (A) 1,445.4 1,319.6 1,416.8 1,535,5 1,625.7 FIs – TL 140.0 Loa
Slide 31: Q3 FY22: Stable Credit Ratings
Q3 FY22: Stable Credit Ratings Q3 FY21 Q3 FY22 Rating Instrument Rating Agency Rating/Grading Rating/Grading CRISIL A+ (Stable) A+ (Stable) Bank facilities ICRA A+ (Stable) A+ (Stable) Ind-Ra A+ (Stable) A+ (Stable) CRISIL A+ (Stable) A+ (Stable) ICRA A+ (Stable) A+ (Stable) Non-convertible debentur
Slide 32: Q3 FY22: Robust Quarterly Performance Trend (1/2)
Q3 FY22: Robust Quarterly Performance Trend (1/2) Gross Loan Portfolio (GLP) (INR Cr) Disbursements (INR Cr) 19.4% 4,032 4,143 3,866 11,341 12,180 3,412 10,625 11,184 10,203 907 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Margin Analysis (%) Operating Efficiency (
Slide 33: Q2 FY22: Robust Quarterly Performance Trend (2/2)
Q2 FY22: Robust Quarterly Performance Trend (2/2) Asset Quality (%) Total Income, NII, PPOP (INR Cr) 609 577 8.12% 511 510 6.84% 7.18% 440 404 5.50% 349 5.95% 5.00% 5.51% 302 309 6.40% 4.40% 249 5.16% 4.38% 5.06% 3.85% 4.23% 300 2.91% 246 197 188 147 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q
Slide 34: Discussion Summary
Discussion Summary Key Business Updates Consolidated Results Overview CA Grameen: Financial Metrics MMFL: Financial Metrics Investment Rationale Annexure www.creditaccessgrameen.in 34
Slide 35: Q3 FY22: MMFL Performance Highlights
Q3 FY22: MMFL Performance Highlights NIM Cost/Income Ratio GLP 10.2%/ 11.1%1/ 11.4%2 51.6% PPOP INR 2,406 Cr INR 32 Cr (+13.6% YoY) Weighted Avg. COB Opex/GLP Ratio (+17.4%) 10.1% 6.0% ROA Capital Adequacy Ratio Total Equity PAT -1.5% 17.7% INR 372.6 Cr INR -9.0 Cr (-106.3% YoY) ROE Tier 1 Ratio D/E
Slide 36: Q3 & 9M FY22: MMFL P&L Statement
Q3 & 9M FY22: MMFL P&L Statement Profit & Loss Statement (INR Cr) Q3 FY22 Q3 FY21 YoY% Q2 FY22 QoQ % 9M FY22 9M FY21 YoY% FY21 Interest income 109.2 100.3 8.9% 105.4 3.6% 318.3 311.2 2.3% 412.6 - Interest on Loans 108.0 96.4 12.1% 102.9 4.9% 311.2 295.1 5.4% 393.0 - Income from Securitisation -0.1 2
Slide 37: Q3 & 9M FY22: MMFL Balance Sheet
Q3 & 9M FY22: MMFL Balance Sheet Balance Sheet (INR Cr) Q3 FY22 Q3 FY21 YOY% Q2 FY22 QoQ % 9M FY22 9M FY21 FY21 Cash & Other Bank Balances 253.9 264.3 -3.9% 251.9 0.8% 253.9 264.3 538.4 Investment in Mutual Funds 0.0 0.0 - 0.0 - 0.0 0.0 0.0 Loans - Balance sheet assets (Net of Impairment Loss Allowa
Slide 38: Q3 FY22: Quarterly Performance Trend (1/2)
Q3 FY22: Quarterly Performance Trend (1/2) Gross Loan Portfolio (GLP) (INR Cr) Disbursements (INR Cr) 13.6% 854 2,246 2,406 2,118 2,038 2,148 558 583 477 158 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Total Income, NII, PPOP (INR Cr) Total Equity (INR Cr) & Debt/
Slide 39: Q3 FY22: Quarterly Performance Trend (2/2)
Q3 FY22: Quarterly Performance Trend (2/2) Margin Analysis (%) Operating Efficiency (%) 20.0% 5.9% 6.1% 5.7% 6.1% 6.0% 19.4% 18.4% 19.5% 18.7% 52.6% 50.4% 56.4% 51.8% 51.6% 10.7% 10.7% 10.6% 10.6% 10.2% 10.2% 10.6% 10.1% 8.3% 8.9% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY
Slide 40: Q3 FY22: Diversified Liability, Stable Liquidity, Positive ALM
Q3 FY22: Diversified Liability, Stable Liquidity, Positive ALM Liability Mix – Static Liquidity / ALM Position For the month Q3 FY22 Institution / Instrument Wise Particulars (INR Cr) Jan-22 Feb-22 Mar-22 Opening Cash & Equivalents (A) 202.6 230.1 210.8 Banks – Term Loan 62.6% Loan recovery [Princip
Slide 41: Discussion Summary
Discussion Summary Key Business Updates Consolidated Results Overview CA Grameen: Financial Metrics MMFL: Financial Metrics Investment Rationale Annexure www.creditaccessgrameen.in 41
Slide 42: Business Model: Sustainable, Resilient and Socially Relevant
Business Model: Sustainable, Resilient and Socially Relevant External Environment Inputs Strategic priorities Outputs SDG Outcomes • Most trusted financial partner of low-income rural under-banked Financial households lacking access to formal credit Financial • Diversified lenders’ base • Socio-econ
Slide 43: Committed To Basics Through Classical JLG Lending Model
Committed To Basics Through Classical JLG Lending Model Microfinance loans are unsecured. JLG mechanism acts as security/ loan collateral JLG Benefits: ✓ Strong group bonding ✓ Mutual support – both financial & emotional ✓ Guidance & grievance resolution ✓ Building awareness – Jagruti initiative ✓ H
Slide 44: Focus On Customer Centricity, Loyalty & Retention
Focus On Customer Centricity, Loyalty & Retention “Lowest Cost Organised Financer” - One Stop Shop providing Support to Various Lifecycle Needs of the Customer Lowest lending rates among all players: 19.05% Loan Customer Centric Ticket Size Tenure per annum starting from Q4 FY22 Purpose Type Product
Slide 45: Calibrated Expansion Through Contiguous District-Based Approach
Calibrated Expansion Through Contiguous District-Based Approach Systematic geography selection based on availability of infrastructure, CA Grameen’s contiguous competition, historical performance trend, social/ economic/ political/ district-based expansion over climate risk, growth potential last 6
Slide 46: Unique Human Capital, Internal Audit & Risk Controls
Unique Human Capital, Internal Audit & Risk Controls Well-Established Operational Structure Multi-Pronged Approach For Risk Management Business Heads Sound Understanding of Rural Market Internal Audit (IA): • ~90% of employees are hired fresh from • IA frequency – 6 times in a year at branches, 4 ti
Slide 47: Continuous Technology Enhancements to Drive Operational Efficiency
Continuous Technology Enhancements to Drive Operational Efficiency Ensures Quick And Seamless Delivery of Need Based Financial Products and Services backed by Robust Technology Infrastructure High touch-high tech delivery model: Future Upgrades & Investments • Digitized all customer touchpoints • Up
Slide 48: Integrating Risk Management In Every Operating Process
Integrating Risk Management In Every Operating Process Microfinance is a Collection Business, hence Risk Management is Integral to Core Strategy and Operating Processes Contiguous Customer Employee Target Customer Customer Employee District-based Lending Model Engagement Incentive Segment Due-Dilige
Slide 49: Strong Parentage of CreditAccess India N.V.
Strong Parentage of CreditAccess India N.V. Committed to Micro Finance Business Strong Financial Support • Invested through multiple rounds of capital funding along with • CreditAccess India N.V. (CAI) specialises in Micro and Small secondary purchase during 2009 to 2017 Enterprises financing • Disp
Slide 50: Past Five Years Performance Track Record (1/3)
Past Five Years Performance Track Record (1/3) Gross Loan Portfolio (GLP) (INR Cr) Active Borrowers (‘000) CAGR 45.0% CAGR 28.2% 4,055 * 13,587 3,912 * 11,996 2,246 1,215 1,098 2,100 2,470 7,159 1,851 1,450 4,975 11,341 9,896 2,905 2,871 2,470 3,075 7,159 1,851 4,975 1,450 3,075 FY17 FY18 FY19 FY20
Slide 51: Past Five Years Performance Track Record (2/3)
Past Five Years Performance Track Record (2/3) Branch Network Loan Officers Employees CAGR 38.0% CAGR 27.1% CAGR 30.6% 1,393 1,424 14,496 14,399 9,688 9,559 460 3,672 3,774 464 1,972 2,108 5,768 8,064 670 4,544 6,306 516 3,668 4,952 7,716 7,451 10,824 10,625 393 929 964 5,768 8,064 670 4,544 6,306 5
Slide 52: Past Five Years Performance Track Record (3/3)
Past Five Years Performance Track Record (3/3) Note: Refer Annexure for definition of key ratios Margin Analysis (%) Operating Efficiency (%) Asset Quality (%) 22.5% 20.4% 20.0% 5.4% 5.01% 19.4% 18.8% 5.1% 5.0% 4.9% 4.8% 2.78% 12.9% 12.7% 12.2% 41.5% 1.26% 1.14% 4.43% 11.5% 10.7% 39.2% 36.7% 38.1% 3
Slide 53: Discussion Summary
Discussion Summary Key Business Updates Consolidated Results Overview CA Grameen: Financial & Operational Metrics MMFL: Financial & Operational Metrics Investment Rationale Annexure www.creditaccessgrameen.in 53
Slide 54: Shareholding Structure
Shareholding Structure Shareholding Pattern – December 2021 Top 10 Institutional Investors – December 2021 Government Pension Fund Global ICICI Prudential Life Insurance Company Others, 3.95 QIB, 3.28 ICICI Prudential MF MF & AIF, Nippon MF 10.04 SBI MF T Rowe Price FPI, 8.84 Taiyo Pacific Partners
Slide 55: Key Ratios: Definitions
Key Ratios: Definitions 1. Portfolio Yield = (Interest on loans – processing fees + Income from securitisation)/ Avg. quarterly on-book loans 2. Cost of Borrowings / Weighted Avg. COB = (Borrowing cost – finance lease charges) / Monthly average borrowings 3. Marginal COB = (Borrowings availed during
Slide 56: For Further Queries:
For Further Queries: Nilesh Dalvi Head – Investor Relations Contact No – 9819289131 Email Id – nilesh.dalvi@cagrameen.in Sahib Sharma AGM – Investor Relations Contact No – 7066559383 Email Id – sahib.sharma@cagrameen.in www.creditaccessgrameen.in 56
CreditAccess Grameen — Q3 FY2022 Earnings Presentation on 6ix