Csl Finance Limited · NSE:CSLFINANCE
Csl Finance — Q3 FY26 Earnings Presentation
41 slides from Csl Finance's earnings presentation, Feb 13, 2026
Slide 1: Cover letter to stock exchanges
CIN: L74899DL1992PLC051462 February 13, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block-G, Bandra Kurla Corporate Relationship Department Phiroze, Complex, Bandra (E), Mumbai - 400051 Jeejeebhoy Towers, Dalal Street, Mumbai-400001 NSE Symbol: CSLFINANCE BSE Scrip
Slide 2: Q3FY26 Investor Presentation February 2026
Q3FY26 Investor Presentation February 2026
Slide 3: Quarterly Business Update
2 Quarterly Business Business Growth YoY Update Loan Book Size Asset Quality Asset Quality: Stage Analysis P&L Highlights Treasury Update Quarterly Financial Snapshot Operational Updates Lending Partners 5Y Financial Snapshot
Slide 4: Business Growth YoY
3 Business Growth YoY Assets Under Disbursement Collection Management Efficiency ₹1,149 Cr 27% ₹1,460 Cr ₹280 Cr 27% ₹357 Cr 98% Consistent 98% Performance Q3’25 Q3’26 Q3’25 Q3’26 Q3’25 Q3’26 NII PAT AUM Mix (SME Retail: Wholesale) 6% Shift ₹35.3 Cr 18% ₹41.4 Cr ₹16.8 Cr 25% ₹20.9 Cr 37:63 in Favour
Slide 5: Loan Book Size
4 Loan Book Size Disbursements Collections Loan Book Collection Efficiency (₹ crore) (₹ crore) (₹ crore) (%) 27% 22% 25% 10% 27% 5% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 282 75 357 256 88 50 98 98 98 98 98 305 236 229 38 293 225 49 1,385 280 286 1,309 1,249 1,157 1,100 Q3
Slide 6: Asset Quality
5 Asset Quality Gross NPA Net NPA Provision Coverage Ratio Write-offs & Recoveries (%) (%) (%) (₹ crore) 62 BPS 49 BPS 52 BPS 36 BPS YOY Change QOQ Change YOY Change QOQ Change 0.75 3.2 1.00 300 256 229 201 2.0 0.42 0.56 0.39 0.51 0.34 1.5 0.46 128 1.3 0.38 1.0 1.0 0.9 0.23 0.9 0.9 0.1 Q3FY25 Q4FY25
Slide 7: Asset Quality: Stage Analysis
6 Asset Quality: Stage Analysis Classification of Assets Basis the ECL Computation as Per Ind -AS: (₹ crore) PARTICULARS Q3FY25 Q2FY26 Q3FY26 Gross Stage 3 (GNPA) 4.22 6.58 13.89 % portfolio in Stage 3 0.38% 0.51% 1.00% ECL provision Stage 3 1.73 1.54 3.55 Net Stage 3 2.49 5.04 10.33 ECL Provision %
Slide 8: P&L Highlights
7 P&L Highlights Net Interest Income Total Income Profit After Tax Yields (₹ crore) (₹ crore) (₹ crore) (%) 18% 1% 20% 1% 25% -14% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 18.7 18.7 18.2 18.2 18.1 40.3 40.9 41.4 63.8 64.4 37.4 59.6 35.3 56.7 24.5 53.7 16.7 16.5 16.5 16.5 16.
Slide 9: Treasury Update
8 Treasury Update 1 The Company has good 3 Credit Rating for the liquidity of ₹135.2 crore as Company has been Leverage Liquidity on 31st December 2025, reaffirmed as A- | Stable (Ratio) (₹ crore) with undrawn credit from Acuite Ratings & facilities of another ₹30.0 Research as on crore 11th Novembe
Slide 10: Quarterly Financial Snapshot
9 Quarterly Financial Snapshot (₹ crore) PARTICULARS Q3FY25 Q2FY26 Q3FY26 Disbursements 280.11 293.40 356.58 Revenue 53.70 63.83 64.44 Interest Income 50.52 59.21 61.29 PBT 22.55 28.85 25.49 PAT 16.77 24.46 20.92 Bad debts written off 3.13 1.30 1.04 Bad debts recovered 0.94 1.98 0.95 Loans and Advan
Slide 11: Operational Updates
10 Operational Updates Loan Book • The broader SME lending space • Additionally, we are not observing any Branch Footprint Expansion • AUM stood at ₹1,460 crore, up 27% continues to reflect signs of over- major delinquencies in the SME Retail YoY and 5% sequentially, while the • We added 1 new branc
Slide 12: Lending Partners
11 Lending Partners Banks & SFBs Newly Added NBFC Kotak Mahindra Investments Limited
Slide 13: 5Y Financial Snapshot
12 5Y Financial Snapshot (₹ crore) PARTICULARS FY21 FY22 FY23 FY24 FY25 Disbursements 433.32 491.10 758.72 1,052.04 1,118.74 Revenue 61.67 74.62 117.54 166.58 216.04 Interest Income 59.18 67.66 108.54 153.72 199.11 PBT 39.36 44.98 61.47 85.60 96.88 PAT 27.53 33.68 45.52 63.36 72.09 Bad debts written
Slide 14: About CSL Finance
13 About CSL Finance Introduction CSL’s Business Model Key Differentiators of CSL Business Verticals & Products SME Retail Wholesale
Slide 15: Introduction
14 Introduction CSL Finance Limited is a Non-Banking Finance 31% Company registered with the Reserve Bank of SME Retail India and listed on the NSE and BSE. The Company is a one-stop destination for Small and Medium-Sized Enterprises (SMEs) and real estate and non-real estate corporates to avail a v
Slide 16: CSL's Business Model
15 CSL’s Business Model Domain Expertise Focused Strategy Customer-Centric Build deep understanding Operate within circle of Prioritise customer of our markets, products, competence, and expand comfort, tailored products, and customers it over time swift disbursements, etc. 1 2 3 5 4 Healthy Busines
Slide 17: Key Differentiators of CSL
16 Key Differentiators of CSL 1 Target market: serving the unbanked & underserved Using alternative data instead 2 of conventional scorecards for Niche and focused real estate 1 underwriting wholesale book Swift disbursement & ease Focus on projects with decent SME Retail 3 of application 2 capital
Slide 18: Business Verticals & Products
17 Business Verticals & Products SME Retail: Micro/Small Loans to SME Mid-Sized Lap: WS Large: Structured WS Small: WS Other Term Loan: Kirana Stores, Traders, Schools, and Loan against properties for loans for Mid Income/ Construction loan Loan against SORP/SOCP other boutique shops and merchants b
Slide 19: SME Retail
18 SME Retail Business Vertical Using alternative Target market: Swift loans Small & data instead of Unbanked & and ease of flexible ticket conventional underserved application sizes scorecards to underwrite loans Promoting Focused on Quality collateral Achieving efficiency financial inclusion secur
Slide 20: SME Retail (1/3)
19 SME Retail (1/3) Key Product Categories LAP- LAP- LAP- SENP SCHOOL SALARIED ₹7-50 Lakhs ₹7-50 Lakhs ₹2-50 Lakhs Loan Amount Loan Amount Loan Amount ROI between 16% to 22% Self-employed Schools (tier-2/3) Salaried individuals individuals with with collateral with collateral collateral
Slide 21: SME Retail (2/3)
20 SME Retail (2/3) Presence 15 28% Rajasthan 10 28% Gujarat 5 14% Punjab 7 13% Haryana 2 1% New Delhi 3 5% Uttarakhand 4 10% Uttar Pradesh 46 Total Branch Network Branch AUM DISTRIBUTION (in %) 27% Ageing 49% <1 year Clustered 24% 1-3 year Approach to expanding branch network, based on understandin
Slide 22: SME Retail (3/3)
21 SME Retail (3/3) SME Active Accounts Average Loan-to-value Average Ticket Size Average Tenure (#) (%) (₹ Lakh) (Year) 3,242 37 37 38 38 7 7 7 7 7 12 40 3,209 38 36 34 34 11 3,040 32 11 3,013 30 2,951 28 10 10 26 24 22 20 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25
Slide 23: Digital-First Operating Model
22 Digital-First Operating Model End-to-End Digital-First Operating Model Digital Onboarding Digital Collections Key achievements of & Processing and Servicing current Tech Stack 100% paperless 99% collections digitally 24–48 hours average on boarding TAT reduction Servicing via: ~30 mins door-to-lo
Slide 24: Digital On-Boarding & Processing
23 Digital On-Boarding & Processing Fully digital, low touch Modular API first Multi-layered onboarding Architecture Verification End-to-end paperless Enables rapid scaling, ID, bank, geo- journey, drastically easy integration with location, criminal reducing turnaround third-party services, checks
Slide 25: Proprietary Applications
24 Proprietary Applications Collections Mobile Application Sales & Credit Mobility Application
Slide 26: Digital Collections & Servicing
25 Digital Collections & Servicing Real-Time EMI Collection & Settlement Digital Welcome Kit Digital Signing for the Loan Kits Cloud Telephony Enabled Call Centre SMS + UPI-based One-Click Repayment Links Digital Payment Collections, ~90% via: Auto Communication Engine via: Email, SMS | WhatsApp
Slide 27: Data Analytics & Other Capabilities
26 Data Analytics & Other Capabilities Real-time dashboard at multiple levels Constantly upgrading analytical BI Tool for more features Automating accounting entries from LMS Automating incentive solutions RegTech for RBI compliance and reporting (RBI mandates push for real-time monitoring, stress t
Slide 28: Wholesale
27 Wholesale Niche, focused, real estate wholesale book Robust Focused on collection secured lending framework Business Vertical book (100% of via escrow the book) accounts Strength in Built on in-depth affordable expertise of NCR housing and all its micro- segment markets
Slide 29: Wholesale (1/2): Robust Risk Management Framework
28 Wholesale (1/2) Robust Risk Management Framework Better Credit Customer Appraisal & Constant Selection: Excellent Monitoring Strong Screening Sourcing Presence in strategically selected Robust due diligence Dedicated, on-ground resourced micro-markets of NCR for asset monitoring Extensive credibi
Slide 30: Wholesale (2/2)
29 Wholesale (2/2) Active Accounts Average Loan-to-Value Average Ticket Size Average Tenure (#) (%) (₹ crore) (Year) 114 111 111 36 36 36 36 36 16 3 3 3 3 3 93 87 13 13 13 12 Q3FY25 Q4FY25 Q1FY25 Q2FY25 Q3FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26
Slide 31: Building for Leadership
30 Building for Leadership Building for Tomorrow Well Managed ALM Conservative Leverage Standards
Slide 32: Building a Robust Lending Franchise
31 Building a Robust Lending Franchise Professionals Governance Risk-management DNA Poised For Growth Professional Independent BOD Never grow at cost Multiple growth levers aligning: leadership & CXOs of risk-management 9 years of uninterrupted Self-sufficiency & growth of SME vertical Deep domain e
Slide 33: Well Managed ALM
32 Well Managed ALM Cumulative Inflow - Outflow 77 79 85 90 438 474 0 (₹ Crore) 850 702 750 602 650 550 450 354 350 245 241 250 120 110 108 131 124 128 71 150 43 34 50 -50 >1 month >2-3 month >3-6 month >6-12 months 1-3 Years 3-5 Years Over 5 Years Inflow (₹ Crore) Outflow (₹ Crore)
Slide 34: Conservative Leverage Standards
33 Conservative Leverage Standards CONSERVATIVE LEVERAGE THRESHOLD 600 1.5-2X in Wholesale & <4X in SME Retail 90% Total Equity Leverage Ratio Capital Adequacy Ratio 80% 73% 542 500 79% 65% 66% 70% 64% 473 400 60% 50% 51% 47% 50% ₹54 362 Crore 320 300 Equity ₹48 40% Fund raise Crore in FY18 259 ₹30
Slide 35: Leadership
34 Leadership Board of Directors Management Team
Slide 36: Board of Directors
35 Board of Directors Rachita Gupta Ashok Kathuria Parmod Bindal Whole-time Director Director Independent Director Ms Rachita is a commerce graduate and has Mr Kathuria has been associated with the Mr Parmod Bindal has been a Chartered done her Masters of Business Finance from Company since its ince
Slide 37: Management Team
36 Management Team Work Experience Years at CSL Rohit Gupta Rachita Gupta Naresh Varshney Amit Kaul Chandan Kumar Prince Bhardwaj Atul Agrawal Ayussh Mittal Managing Director Whole-time Director Chief Financial Chief Technology Head – Chief Business Officer President – President- Audit Officer Offic
Slide 38: Strategy
37 Strategy Strategic Priorities Key Takeaways
Slide 39: Strategic Priorities
38 Strategic Priorities Rationalisation of Optimising Branch Leveraging Technology Focusing on Core Leveraging Credit Portfolio Profitability to Strengthen Operations Competencies Rating Upgrade The Company is rationalising The Company is expanding The Company is enhancing The Company remains The Co
Slide 40: Key Takeaways
39 Key Takeaways Well Capitalised Geared for Growth Strong Risk Management DNA CSL is a well-capitalised With a significant headroom to The Company puts risk lender with a superior grow leverage ratio, and a management at the foremost. It also Capital Adequacy Ratio. conducive external follows conse
Slide 41: Safe Harbour
Safe Harbour This presentation may contain certain words or phrases that are forward - looking statements, which are tentative, based on current expectations and on certain assumptions of the management of CSL Finance Limited (“CSL”). Actual results may vary from the forward-looking statements conta