Paisalo Digital Ltd. · NSE:PAISALO
Paisalo Digital — Investor Presentation (2026)
58 slides from Paisalo Digital's investor presentation, May 12, 2026
Slide 1: International Investor Presentation Q4 FY2026
INTERNATIONAL INVESTOR PRESENTATION Q4 FY 2026 INR to USD conversion rate of 94.65 Used across the deck. 1 International Investor Presentation Q4 FY2026 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 Q4 FY2026 www.paisalo.in
Slide 4: Result Snapshot
01 RESULT SNAPSHOT Q4 FY2026 4 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 5: Highlights for the Quarter
Highlights for the Quarter Robust Growth Profitability & Asset Quality Highest ever AUM at $644.57 mn (+17% YoY); disbursement for Net Interest Income was up 61% YoY at $18.31 mn, driving a record the quarter came in at $142 mn. quarterly profit of $7.63 mn. Despite expanded network and AUM growth,
Slide 6: Q4 FY26 Performance Summary
AUM Portfolio Yield Borrowing Cost $644.57 Mn 17.04% 10.2% +17% YoY Disbursement +10 bps YoY NIM -33 bps YoY Total Income $142 Mn 6.8% +43 bps YoY $27.57 Mn +3% YoY +35% YoY Q4 FY 26 Performance Summary ROA Net Worth CAR Collection PAT 3.76% $189.44 Mn 35.8% Efficiency $7.63 Mn +16% YoY Tier 1 - 28.
Slide 7: Robust Financial & Operational Performance
Robust Financial & Operational Performance AUM ($ Mn) Disbursement ($ Mn) Customer Franchise (Mn) 142.00 14 16 644.57 138.30 13 575.75 581.95 552.86 552.59 11 116.48 111.72 9 80.10 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Total Income (
Slide 8: Robust Financial & Operational Performance
Robust Financial & Operational Performance Yield, Spread, Cost of Borrowing (%) RoE & RoA (%) Collection Efficiency (%) 16.94% 17.23% 17.00% 17.04% 13.0% 13.2% 99.8% 16.91% 12.6% 98.8% 98.8% 98.5% 11.9% 98.4% 11.7% 10.54% 10.70% 10.48% 10.34% 10.22% 6.83% 3.9% 3.7% 3.6% 3.8% 3.8% 6.40% 6.53% 6.52% 6
Slide 9: About Paisalo
02 ABOUT PAISALO Q4 FY2026 9 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 10: About Us
ABOUT US Bridging the Credit Gap: Connecting unbanked and underserved 34 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. ~16 mn $644.57 mn Small In
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 $644.57 Mn 22 ~16 Mn 0.76% $460.61 Mn 17.0% Branches Disbursement Secured Portfolio NNPA Capital Adequacy N
Slide 12: Proven through Cycles, Scaling with Stability
Proven through Cycles, Scaling with Stability Assets Under Management ($ Mn) Credit Rating States Touch Points A+/Stable 10 100+ $644.57 Mn AUM AA-/Stable 18 1,000+ and scaling with ~21% CAGR (FY21 - FY26) AA/Stable/A1+ 22 5,299 Maiden ECB Issuanceof USD First FCCB Issuance of 15Mn USD 50 Mn BC* par
Slide 13: Q4 FY2026
03 Q4 FY2026 13 International Investor Presentation Q4 FY2026 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 at the Core
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 Basic Digitisation to AI-Led Field Intelligence
From Basic 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 Q4 FY2026 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: Key Initiatives in Q4 FY2026
KEY INITIATIVES in Q4 FY2026 Focus on dedicated strategic initiatives to drive scale Productivity Expansion through Automation Front-End Digitisation Reducing Field & 160k applications processed per quarter via AI-enabled Processing Costs onboarding. 50k facial recognition & face-match through app.
Slide 21: 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 5,299 touchpoints and with institutions. reach in 22 states/UTs. High
Slide 22: Disruption
3.1 DISRUPTION Revolutionizing and Disrupting Credit Q4 FY 2026 22 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 23: 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 24: MSME Loans: The Opportunity
MSME LOANS: THE OPPORTUNITY THE PROBLEM $1,458 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 co
Slide 25: 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 26: Broadening Product Suite
Broadening Product Suite Broadening MSME & Micro-Credit Product Suite via Asset Light Expansion of Institutional Partnerships Key Institutional / Dealer Partnerships Medical Equipment Industrial Equipment Alternative Fuel Philips Kirloskar Adani Mindray Mahindra Tata Horiba Greaves Cotton Waaree Sam
Slide 27: Scaling Loan Book with Sustained Disbursals
Scaling Loan Book with Sustained Disbursals AUM expands by 17% YoY to $644.57 mn in FY26, with steady expansion across segments AUM Breakup ($ Mn) Other Income Generation 157.74 186.93 6% 163.23 Other MSME/SMEs Food & Hospitality 96.02 395.12 457.64 11% 24% 54.80 321.29 273.01 Vehicle 230.48 3% FY22
Slide 28: High Tech: High Touch
3.2 HIGH TECH : HIGH TOUCH Engage and transact without friction Q4 FY 2026 28 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 29: 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 30: 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 28.0% Uttar Pradesh 14.1% Maharashtra 21.7% Haryana 14.9% Rajasthan 13.1% Others 8.1% Customer Franchise (Mn) 16 9 Touch Points
Slide 31: Scalable and Successful Platform
Scalable and Successful Platform ...through a mix of branch led and asset light touchpoints expansion Branches Distribution touchpoints Business Correspondents 422 3,381 1,496 1,314 351 279 973 1,900 220 1,203 432 400 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Critical on-ground pre
Slide 32: 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 33: Underwriting & Risk Management
3.3 UNDERWRITING & RISK MANAGEMENT Q4 FY 2026 33 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 34: 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 35: 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 36: Robust Collection Efficiency
Robust Collection Efficiency In-House, Debt Management Infrastructure High Collection Efficiency (%) Debt Management Infrastructure 98.7% 98.4% 98.8% 98.5% 97.8% Pre-defined collection Back-end Collections Branch Manager and path for Field Staff Support Legal support Automated Collection Regional &
Slide 37: Asset Quality
Asset Quality Strong Debt Management Infrastructure and Risk Mitigation measures ensuring robust Asset Quality GNPA (%) 1.52% 0.99% 0.85% 0.99% 0.81% 0.83% 0.76% 0.76% 0.25% 0.21% Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY22 FY23 FY24 FY25 FY26 NNPA (%) 1.26% 0.76% 0.76% 0.68% 0.66% 0.65% 0.61% 0.61% 0.0
Slide 38: Liability
3.4 LIABILITY Q4 FY2026 38 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 39: Diversifying Leverage to Drive Cost Efficiency
Diversifying Leverage to Drive Cost Efficiency Borrowing Mix and Cost of Borrowing Diverse Lender Base 12.6% 11.2% 10.9% Public Sector Banks Private Banks 10.5% 10.2% 1% 0% 3% 3% 9% 28% 23% 12% 24% 18% 16% 72% 77% 74% 69% 72% FY22 FY23 FY24 FY25 FY26 Banks and FIs NCDs FCCBs Commercial Paper Cost of
Slide 40: 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 41: Prudent ALM
Prudent ALM Positive Asset Liability Management across Buckets 251.03 207.61 179.97 Maintaining a consistently positive ALM gap which strengthens the company’s 149.38 liquidity position and reduces refinancing risk. 73.84 64.50 Positions the company to meet all debt obligations < 6 Months < 1 Year <
Slide 42: Leadership
3.5 LEADERSHIP Q4 FY2026 42 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 43: 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 44: Experienced & Professional Management
Experienced & Professional Management Harish Singh Anurag Sinha Gaurav Chaubey Samresh Agarwal Manendra Singh Chief Financial Officer & ED COO & CISO Chief Business Officer Chief Recovery Officer Chief Compliance Officer 21 15 35+ 40 19 28 26 18 8 Ex-ICICI, Kotak BVSKT Bhaskar Rajeev Seth Snigdha Ag
Slide 45: Shareholding Pattern
04 SHAREHOLDING PATTERN Q4 FY2026 45 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 46: Shareholding Structure
Shareholding Structure $324.35 mn ~910 Mn ~104k 10% Dividend Market Capitalization Outstanding Shares Shareholders Key Institutional Investors Promoter and Promoter Group, 41.75% FY26-End DII, 6.84% SBI Life Insurance Grammont Management Shareholding (Mar 2026) FII, 17.54% Maybank Securities Spear F
Slide 47: Shareholding Movement
Shareholding Movement Promoters have continuously increased their stake over time Total Shares Outstanding (Mn) 910 878 898 898 902 846 846 811 123.8 128.9 136.4 308.1 130.0 134.0 188.9 Others 109.3 216.6 211.5 176.0 154.1 144.6 167.2 140.3 Institutions 221.7 268.6 238.6 GDR* 336.6 268.6 268.6 0.0 3
Slide 48: Financial Performance
05 FINANCIAL PERFORMANCE Q4 FY2026 48 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 49: Profit & Loss Summary
Profit & Loss Summary Particulars Q4FY26 Q4FY25 Q3FY26 YoY% QoQ% FY26 FY25 YoY% Interest Income ($ Mn) 26.69 19.24 25.74 39% 4% 95.58 73.58 30% Total Income ($ Mn) 27.56 20.48 25.37 35% 9% 99.70 81.47 22% Interest Expense ($ Mn) 9.26 9.06 10.01 2% (8%) 39.55 34.69 14% Net Interest Income ($ Mn) 18.3
Slide 50: RoE Tree
RoE Tree On Total Assets (%) Q4FY26 Q4FY25 Q3FY26 FY26 FY25 Interest Income 14.4% 13.3% 15.2% 14.4% 13.3% Non-Interest income 0.6% 1.4% 0.7% 0.6% 1.4% Total Income 15.0% 14.7% 15.9% 15.0% 14.7% Interest Expense 5.9% 6.3% 6.7% 5.9% 6.3% Net Interest Income 8.4% 7.0% 8.5% 8.4% 7.0% Net Total Income 9.
Slide 51: Balance Sheet Summary
Balance Sheet Summary Particulars As on 31st March, 2026 As on 31st December, 2025 As on 31st March, 2025 Assets ($ Mn) Cash and Bank Balances 15.85 11.57 11.07 Receivables 1.87 2.73 2.24 Loan Assets 626.47 565.02 523.44 Investments 2.09 2.12 2.14 Other Financial Assets 3.57 13.69 3.66 Current & Def
Slide 52: Financial Performance over the years
Financial Performance over the years Particulars FY2022 FY2023 FY2024 FY2025 FY2026 Operational Information AUM ($ Mn) 284.98 369.02 484.52 522.85 644.57 Disbursement ($ Mn) 172.67 274.59 379.31 393.02 450.29 Number of Touch Points 133 1,052 2,455 3,565 5,299 Number of Employees 958 1,650 2,409 3,17
Slide 53: ESG
06 ESG Q4 FY 2026 53 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 54: Paisalo's ESG Rating Update
Paisalo's - ESG Rating Update 61 61 CRISIL ESG SCORE CRISIL ESG SCORE 2025 2025 57 CRISIL ESG SCORE 54 International Investor Presentation Q4 FY2026 www.paisalo.in
Slide 55: 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 Awarene
Slide 56: Our Progress on Triple A Strategy
“Our Progress on Triple A Strategy” Cashless Collection Number of small and medium Lives Impacted (in Mn) Customer served by enterprises supported BC Channel (in Mn) 90% 2,976 16 89% 1.74 88% 88% 1.70 14 2,683 13 11 1.61 1,132 1.48 678 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 56 International
Slide 57: Our Progress on Triple A Strategy
Our Progress on Triple A Strategy Accessibility Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Number of Pin codes served 9,968 10,299 10,334 10,354 Number of states served 22 22 22 22 Touchpoints 3,997 4,380 4,872 5,299 Customers served by BC Channel 1.48 Mn 1.74 Mn 1.61 Mn 1.70 Mn Women customers served 89% 90%
Slide 58: Thank You
T H A N K Y O U For further information, please contact: Investor Relations Team ir@paisalo.in 58 International Investor Presentation Q4 FY2026 www.paisalo.in