Paisalo Digital Ltd. · NSE:PAISALO
Paisalo Digital — Q2 FY2026 Earnings Presentation
48 slides from Paisalo Digital's earnings presentation, Nov 10, 2025
Slide 1: Exchange filing cover letter
Date: 10.11.2025 To, To, The Manager The Asstt. Vice President Department of Corporate Relationship National Stock Exchange of India Limited, BSE Limited Exchange Plaza 25 P. J. Towers, Dalal Street Bandra Kurla Complex Bandra (East) Mumbai -400 001 Mumbai -400 051 Scrip Code: 532900 (Equity) Scrip
Slide 2: Investor Presentation Q2 FY 2026
INVESTOR PRESENTATION Q2 FY 2026 1 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 3: 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 4: Index
INDEX 01 RESULT SNAPSHOT 02 ABOUT PAISALO 03 STRATEGIC PILLARS 04 SHAREHOLDING PATTERN 05 FINANCIAL PERFORMANCE 06 ENVIROMENT SOCIAL GOVERNANCE 3 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 5: Result Snapshot
RESULT SNAPSHOT Q2 FY 2026 4 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 6: Highlights for the Quarter
Highlights for the Quarter Robust Growth Profitability & Asset Quality Record AUM at Rs 54,494 mn (+20% YoY), led by highest ever Net Interest Income was up 15% YoY at Rs 1,262 mn. disbursements of Rs 11,025 mn (+41% YoY) during the quarter. Achieved Q2FY26 Profit Before Tax of Rs 690 mn and a Profi
Slide 7: Q2 FY 26 Performance Summary
AUM Portfolio Yield Borrowing Cost ₹54,494 Mn 17.0% 10.5% +20% YoY Disbursement -128 bps YoY NIM -127 bps YoY Total Income ₹11,025 Mn 6.5% -1 bps YoY ₹2,240 Mn +41% YoY +20% YoY Q2 FY 26 Performance Summary ROA Net Worth CAR Collection PAT 3.56% ₹16,799 Mn 38.2% Effciency ₹515 Mn +18% YoY Tier 1 - 3
Slide 8: Robust Financial & Operational Performance
Robust Financial & Operational Performance AUM (Rs Mn) Disbursement (Rs Mn) Customer Franchise (Mn) 11,025 13 54,494 13,090 52,328 52,302 11 45,352 47,488 9 9,789 8 7 7,799 7,581 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2 FY 25 Q3 FY 25 Q4 FY 25 Q1FY26 Q2FY26 AUM (Rs. M
Slide 9: Robust Financial & Operational Performance
Robust Financial & Operational Performance Yield, Spread, Cost of Borrowing (%) RoE & RoA (%) Collection Efficiency (%) 13.9% 13.0% 18.28% 12.8% 11.9% 100.0% 99.0% 98.8% 99.8% 17.85% 16.94% 17.23% 11.7% 98.4% 17.00% 11.75% 11.26% 10.54% 10.70% 10.48% 6.53% 6.59% 6.40% 6.53% 6.52% 4.3% 4.5% 3.9% 3.7%
Slide 10: About Paisalo
ABOUT PAISALO Q2 FY 2026 9 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 11: About Us
ABOUT US Bridging the Credit Gap: Connecting unbanked and underserved 33 22 populations, including MSMEs, to the formal financial ecosystem. Years of Legacy States and UTs Accessible & Tailored Loan Offerings: Designed to meet the unique needs of diverse borrower segments. ~13 mn Rs. 54,494 mn Custo
Slide 12: 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 Rs. 54,494 22 ~13 Mn 0.81% Rs. 37,688 Mn 17.0% Branches Disbursement Secured Portfolio NNPA Capital Adequac
Slide 13: Proven through Cycles, Scaling with Stability
Proven through Cycles, Scaling with Stability Assets Under Management (Rs. Mn) Credit Rating States Touch Points IVR A+/Stable 10 100+ Rs 54,494 Mn AUM IVR AA-/Stable 18 1,000+ and scaling with ~20% CAGR (FY20 - FY25) IVR AA/Stable/A1+ 22 4,300+ First FCCB Issuance of USD 50 Mn BC* partnership with
Slide 14: Strategic Pillars
Strategic Pillars 02 04 Engage and transact Scaling up retail without friction to co-lending as a core deliver a sustainable, growth lever, with a focus multi-channel on deepening existing distribution model with partnerships and expanding 4,380 touchpoints and outreach through co-lender reach in 22
Slide 15: Disruption
3.1 DISRUPTION Revolutionizing and Disrupting Credit Q2 FY 2026 14 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 16: 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 17: MSME Loans: The Opportunity
MSME LOANS: THE OPPORTUNITY THE PROBLEM Rs. 1,38,000 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 M
Slide 18: 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 19: Scaling Loan Book with Sustained Disbursals
Scaling Loan Book with Sustained Disbursals AUM expands by 20% YoY to Rs 54,494 mn in H1FY26, with steady expansion across segments AUM Breakup (Rs. Mn) Other Income Generation 15,450 14,930 6% Other MSME/SMEs 9,088 Food & Hospitality 5,158 37,398 12% 25% 4,684 30,410 25,840 21,815 Vehicle 18,494 3%
Slide 20: High Tech: High Touch
3.2 HIGH TECH : HIGH TOUCH Engage and transact without friction Q2 FY 2026 19 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 21: 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 22: High-Touch: Pan India Network
High-Touch: Pan India Network Others 8.1% Delhi 24.7% Rajasthan 14.0% State Wise Portfolio Breakup H1FY26 (%) Haryana 16.9% Uttar Pradesh Touch Points 4,380 18.5% Branches 402 Wide geographic reach with Business Correspondent Distribution Point 1,393 2,585 4,380 22 Maharashtra Touch Points across St
Slide 23: Operational Expansion to New Geographies
Operational Expansion to New Geographies Touch Points Expansion Customer Franchise (Mn) 4,380 13 3,565 2,455 2,585 9 1,900 1,052 1,203 1,393 4 1,314 400 973 432 2 2 2 132 133 220 279 351 402 FY21 FY22 FY23 FY24 FY25 H1FY26 FY21 FY22 FY23 FY24 FY25 H1FY26 Branches Business Correspondents Distribution
Slide 24: 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 25: Underwriting & Risk Management
3.3 UNDERWRITING & RISK MANAGEMENT Q2 FY 2026 24 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 26: 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 27: 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 28: Robust Collection Efficiency
Robust Collection Efficiency In-House, Debt Management Infrastructure High Collection Efficiency (%) Debt Management Infrastructure 98.7% 98.4% 98.8% 98.4% 97.8% 96.1% Pre-defined collection Back-end Collections Branch Manager and path for Field Staff Support Legal support Automated Collection Regio
Slide 29: 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% 0.86% 0.85% 0.81% 0.81% 0.72% 0.25% 0.21% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 FY21 FY22 FY23 FY24 FY25 H1FY26 NNPA (%) 1.26% 0.84% 0.76% 0.76% 0.65% 0.68% 0.
Slide 30: Liability & Co-lending
3.4 LIABILITY & CO-LENDING Q2 FY 2026 29 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 31: Focus on Scaling up Asset-Light Co-lending Business Model
Focus on Scaling up Asset-Light Co-lending Business Model Value Accretive Model to Scale Lending with Reduced Risk Exposure Operational Arrangements Collaboration with banks for sourcing, servicing and recovery. Benefits to Paisalo Benefits to Partner Institution Higher ROA & ROE on Risk and Rewards
Slide 32: Diversified Liability Mix
Diversified Liability Mix Borrowing Mix and Cost of Borrowing Diverse Lender Base 13.01% 12.6% 11.2% 10.9% 10.5% 10.5% Public Sector Banks Private Banks 0.4% 3% 3% 10% 28% 28% 23% 12% 24% 18% 16% 72% 72% 77% 74% 69% 71% Credit Rating FY21 FY22 FY23 FY24 FY25 H1FY26 AA/Stable/A1+ Banks and FIs NCDs F
Slide 33: Prudent ALM
Prudent ALM Positive Asset Liability Management across Buckets Rs. Mn 24,201 Maintaining a consistently positive ALM gap which strengthens the company’s liquidity position and reduces refinancing risk. 15,268 13,815 10,788 7,150 Positions the company to meet all debt obligations 4,895 comfortably th
Slide 34: Leadership
3.5 LEADERSHIP Q2 FY 2026 33 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 35: 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 30 years of experience, B.Com LLB, played a pivotal A seasoned banking professional MBA, Chartered Acco
Slide 36: Experienced & Professional Management
Experienced & Professional Management Harish Singh Anoop Krishna Vinod Kumar Anurag Sinha Gaurav Chaubey Samresh Agarwal Chief Financial Officer & ED ED, Strategy & Planning ED COO & CISO Chief Risk Officer Chief Recovery Officer 40 8 35 1 21 15 35+ 40 19 28 26 Ex-SBI Ex-SBI Ex-ICICI, Kotak Manendra
Slide 37: Shareholding Pattern
SHAREHOLDING PATTERN Q2 FY 2026 36 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 38: Shareholding Structure
Shareholding Structure Rs 34.5 Bn 909 Mn ~114k 10% Dividend Market Capitalization Outstanding Shares Shareholders Others, Key Institutional Investors 30.27% Promoter and SBI Life Insurance LIC Life Insurance Promoter Group, 41.16% As of Maybank Securities Eminence Global Fund September 2025 Quadratu
Slide 39: Shareholding Movement
Shareholding Movement Promoters have continuously increased their stake over time Total Shares Outstanding (Mn) 878 898 898 902 910 811 846 846 109 130.0 134.0 123.8 128.9 136.4 188.9 275.3 Others 154.1 211.5 144.6 167.2 216.6 176.0 140.3 Institutions 259.9 268.6 268.6 238.6 GDR* 336.6 336.6 310.0 2
Slide 40: Financial Performance
FINANCIAL PERFORMANCE Q2 FY 2026 39 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 41: Profit & Loss Summary
Profit & Loss Summary Particulars Q2FY26 Q2FY25 Q1FY26 YoY% QoQ% H1FY26 H1FY25 YoY% Interest Income (Rs Mn) 2,077 1,675 2,009 24% 3.4% 4,086 3,326 22.8% Total Income (Rs Mn) 2,240 1,870 2,187 19.8% 2.4% 4,427 3,736 18.5% Interest Expense (Rs Mn) 978 773 943 26.5% 3.7% 1,920 1,604 19.7% Net Interest
Slide 42: Balance Sheet Summary
Balance Sheet Summary Particulars As on 30th September, 2025 As on 31st March, 2025 Assets (Rs Mn) Cash and Bank Balances 567 1,048 Receivables 277 212 Loan Assets 52,493 49,544 Investments 905 203 Other Financial Assets 466 347 Current & Deferred Tax Assets (Net) 85 282 Property, Plant and Equipmen
Slide 43: Financial Performance over the years
Financial Performance over the years Particulars FY2021 FY2022 FY2023 FY2024 FY2025 H1FY2026 Operational Information AUM (Rs. Mn) 23,178 26,973 34,928 45,860 52,328 54,494 Disbursement (Rs Mn) 14,238 16,343 25,990 35,902 37,199 18,606 Number of Touch Points 132 133 1,052 2,455 3,565 4,380 Number of
Slide 44: ESG
ESG Q2 FY 2026 43 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 45: Our Value Creation Framework based on 3Ps
Our Value Creation Framework based on 3Ps 02 04 In FY25, we began calculating Updated the ESMS four key categories of Scope Manual to incorporate 3 emissions-business travel, impact considerations as energy, waste, and purchased well as climate-related goods & services-as part of governance and risk
Slide 46: 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 47: Our Progress on Triple A Strategy
Our Progress on Triple A Strategy Accessibility Q1FY26 Q2FY26 Number of Pin codes served 9,968 10,299 Number of states served 22 22 Touchpoints 3,997 4,380 Customers served by BC Channel 1.48 Mn 1.74 Mn Women customers served 89% 90% Active Customer Base 199,641 1,72,151 Affordability Cashless Colle
Slide 48: Thank You
T H A N K Y O U For further information, please contact: Investor Relations Team ir@paisalo.in 47 Investor Presentation Q2 FY 2026 www.paisalo.in