Creditaccess Grameen Ltd. · NSE:CREDITACC
Creditaccess Grameen — Q3 FY26 Earnings Presentation
43 slides from Creditaccess Grameen's earnings presentation, Jan 20, 2026
Slide 1: Covering letter to stock exchanges
Ref: CAGL/EQ/2025-26/151 January 20, 2026 To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Bandra (East), Mumbai - 400001 Mumbai - 400051 Scrip code: 541770 Symbol: CREDITACC Dear Sir/Madam, Sub.: Investo
Slide 2: CreditAccess Grameen Q3 & 9M FY26 Investor Presentation
CreditAccess Grameen Limited Q3 & 9M FY26 Investor Presentation January 2026 www.creditaccessgrameen.in
Slide 3: 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 4: Discussion Summary
Discussion Summary ii Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 3 www.creditaccessgrameen.in
Slide 5: Q3 FY26: Key Business Highlights
Q3 FY26: Key Business Highlights Key Operational Metrics Q3 FY26 YoY% QoQ% Regained Growth Focus Driven By Asset Quality Normalisation GLP (INR Cr) 26,566 7.1% / 7.8%* 2.6% / 3.3%* Borrowers (Lakh) 44.01 -8.4% / -7.6%* -0.9% / 0.0%* Improved business momentum: Disbursements (INR Cr) 5,767 13.4% 8.4%
Slide 6: Discussion Summary
Discussion Summary ii Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 5 www.creditaccessgrameen.in
Slide 7: Lower New PAR Accretion Trend Indicating Asset Quality Normalisation
Lower New PAR Accretion Trend Indicating Asset Quality Normalisation Overall Monthly Net PAR 15+ Accretion/AUM Rate Strong pull-back in new PAR accretion since Nov-25 0.91% 0.95% 0.84% 0.52% 0.49% 0.47% 0.54% 0.46% 0.37% 0.18% Sep-24 Dec-24 Mar-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Con
Slide 8: PAR 15+ Accretion Trend Improvement Across Operating Geographies (1/2)
PAR 15+ Accretion Trend Improvement Across Operating Geographies (1/2) Karnataka – Monthly PAR 15+ Accretion/AUM Rate Maharashtra – Monthly PAR 15+ Accretion/AUM Rate 1.90% 0.84% 0.67% 0.55% 0.72% 0.46% 0.58% 0.67% 0.63% 0.51% 0.54% 0.41% 0.39% 0.42% 0.39% 0.34% 0.27% 0.34% 0.13% 0.22% Sep-24 Dec-24
Slide 9: PAR 15+ Accretion Trend Improvement Across Operating Geographies (2/2)
PAR 15+ Accretion Trend Improvement Across Operating Geographies (2/2) Madhya Pradesh – Monthly PAR 15+ Accretion/AUM Rate 1.06% 0.77% 0.70% 0.62% 0.56% 0.52% 0.47% 0.39% 0.37% 0.26% Sep-24 Dec-24 Mar-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Bihar & UP – Monthly PAR 15+ Accretion/AUM Rate
Slide 10: Continued Borrower Additions & High Retention Rates
Continued Borrower Additions & High Retention Rates Continued Borrower Addition High Borrower Vintage Borrowers (‘000) 547 Q3 FY26 51% 20% 28% 904 761 Q2 FY26 53% 20% 27% Q1 FY26 55% 20% 25% 4,805 4,401 Q4 FY25 55% 21% 25% Q3 FY25 57% 21% 23% Q3 FY25 Addition Write-off Attrition Q3 FY26 < 3 years 3-
Slide 11: Alignment With MFI guardrails Along With Consistent Deleveraging Trend
Alignment With MFI guardrails Along With Consistent Deleveraging Trend Key Highlights: Dec-25 / Sep-25 / Aug-24 Borrowers with > INR 2 Lakh unsecured Unique Borrowers: Borrowers with > 3 lenders: indebtedness: GLP %: 43.4% / 41.3% / 26.6% GLP %: 4.9% / 6.9% / 25.3% GLP %: 7.8% / 7.2% / 19.1% Borrowe
Slide 12: Reduction In PAR Buckets Led By Lower New PAR Accretion
Reduction In PAR Buckets Led By Lower New PAR Accretion PAR Trend Reduction in PAR 0-90 Buckets 1.8% 1.4% 6.8% 6.9% 1.1% 1.3% 5.9% 1.3% 0.7% 1.0% 5.5% 0.5% 4.7% 1.0% 0.8% 0.4% 5.1% 4.9% 4.4% 1.1% 0.6% 0.5% 4.3% 4.1% 0.6% 3.7% 3.8% 3.8% 3.1% 3.4% 3.3% 3.3% 2.9% 3.3% 2.6% 2.5% 3.3% 2.9% 2.6% 2.5% Q3 F
Slide 13: Early Risk Recognition & Conservative Provisioning
Early Risk Recognition & Conservative Provisioning Q3 FY26 (INR Cr) Consolidated Credit Cost (INR Cr) Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Asset Classification (dpd) EAD EAD% ECL% Opening ECL - (A) 1,244.0 1,308.6 1,188.0 1,030.8 Stage 1 0 – 15 (GL), 0 – 30 (RF) 24,935.8 95.3% 1.22% Stage 2 16 – 60 (GL),
Slide 14: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 13 www.creditaccessgrameen.in
Slide 15: Q3 FY26: Key Performance Highlights
Q3 FY26: Key Performance Highlights NIM C/I Ratio PPOP GLP Disbursements 13.9% 34.1% / 32.3% 1 INR 680 Cr INR 26,566 Cr INR 5,767 Cr (9.2% YoY) (7.1% YoY) (13.4% YoY) Wgtd. Avg. COB Opex/GLP Ratio 9.4% 5.4% / 5.1% 1 INR 699 Cr 1 PAT ROA CRAR Total Total Equity GNPA*: 4.04% INR 252 Cr 3.5% / 3.7% 1 2
Slide 16: 9M FY26: Key Performance Highlights
9M FY26: Key Performance Highlights NIM C/I Ratio GLP Disbursements 13.3% 33.3% / 32.7% 1 PPOP INR 26,566 Cr INR 16,547 Cr INR 2,028 Cr (7.1% YoY) (22.0% YoY) Wgtd. Avg. COB Opex/GLP Ratio (1.2% YoY) 9.6% 5.2% / 5.1% 1 ROA CRAR Total Total Equity GNPA*: 4.04% PAT 2.1% 26.4% INR 7,440 Cr INR 438 Cr N
Slide 17: Q3 & 9M FY26: P&L Statement
Q3 & 9M FY26: P&L Statement Profit & Loss Statement (INR Cr) Q3 FY26 Q3 FY25 YoY% Q2 FY26 QoQ% 9M FY26 9M FY25 YoY% FY25 Interest Income 1,435.0 1,337.6 7.3% 1,414.1 1.5% 4,237.2 4,192.5 1.1% 5,546.8 - Interest on Loans 1 1,420.0 1,306.9 8.7% 1,396.6 1.7% 4,184.7 4,114.4 1.7% 5,437.6 - Interest on D
Slide 18: Q3 & 9M FY26: Balance Sheet
Q3 & 9M FY26: Balance Sheet Balance Sheet (INR Cr) Q3 FY26 Q3 FY25 YoY% Q2 FY26 QoQ% 9M FY26 9M FY25 FY25 Cash & Other Bank Balances 1,112.8 1,832.6 -39.3% 937.5 18.7% 1,112.8 1,832.6 1,443.0 Investments 1,284.6 1,389.7 -7.6% 1,238.0 3.8% 1,284.6 1,389.7 893.0 Loans - (Net of Impairment Loss Allowan
Slide 19: Continued Business Traction with Rural Focus
Continued Business Traction with Rural Focus Gross Loan Portfolio (INR Cr) Borrowers (‘000) 7.1% -8.4% 26,566 4,805 4,694 26,055 4,562 25,948 25,904 4,440 4,401 24,810 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 18 www.creditaccessgrameen.in
Slide 20: Consistent Growth in Infrastructure
Consistent Growth in Infrastructure Branches 7.9% 2,114 2,209 2,222 2,059 2,063 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Employees Loan Officers 12.2% 12.4% 20,970 21,333 21,701 21,701 14,496 14,463 19,333 14,117 14,326 12,862 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3
Slide 21: Robust Quarterly Performance Trend (1/3)
Robust Quarterly Performance Trend (1/3) Disbursements (INR Cr) Total Income (INR Cr) 13.4% 1,509 1,491 1,464 6,472 5,458 5,322 5,767 5,085 1,408 1,382 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Margin Analysis (%) Operating Efficiency (%) 20.7% 21.0% 5.1% 5.2% 5
Slide 22: Robust Quarterly Performance Trend (2/3)
Robust Quarterly Performance Trend (2/3) Asset Quality (%) NII, PPOP, PAT (INR Cr) 862 876 937 976 977 5.07% 5.07% 4.70% 4.06% 4.26% 4.76% 623 634 653 695 680 3.99% 4.62% 3.65% 4.04% 3.28% 3.29% 2.64% 2.94% 2.50% 252 47 60 126 -99.5 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2
Slide 23: Robust Quarterly Performance Trend (3/3)
Robust Quarterly Performance Trend (3/3) GLP / Branch (INR Cr) GLP / Loan Officer (INR Cr) 1.9 12.6 12.3 1.8 1.8 1.8 1.8 12.0 11.7 12.0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Borrowers / Branch Borrowers / Loan Officer 2,334 2,275 374 2,158 2,010 1,981 332 31
Slide 24: Product Range To Meet Diverse Customer Needs
Product Range To Meet Diverse Customer Needs GLP - Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Product Mix (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total IGL 22,227 89% 23,237 90% 23,114 89% 22,079 85% 21,837 82% Family Welfare 141 1% 71 0% 261 1% 238
Slide 25: Our Network & Presence
Our Network & Presence Our Presence as on Dec-25 Uttar Pradesh 16 States & 1 UT 126 Branch Network Q3 FY26 % Share Q3 FY25 % Share 450 Districts Karnataka 380 17.1% 362 17.6% Bihar Maharashtra 342 15.4% 312 15.2% 2,222 Branches 158 Tamil Nadu 388 17.5% 386 18.7% West Bengal Madhya Pradesh 184 8.3% 1
Slide 26: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 25 www.creditaccessgrameen.in
Slide 27: Progressing Well on Liability Strategy
Progressing Well on Liability Strategy Diversified Liability Mix - Institution / Instrument Wise (%) Focus on dynamic liability management • Focus on long-term funding with strong diversification between domestic NBFCs - TL & foreign sources 2.4% FIs - TL 5.9% Public NCD • Target to meet funding req
Slide 28: Stable Liquidity/ ALM Position/ Credit Ratings / ESG Ratings
Stable Liquidity/ ALM Position/ Credit Ratings / ESG Ratings Static Liquidity / ALM Position For the Month For the Financial Year Debt Diversification (INR Cr) Q3 FY26 FY26 Particulars (INR Cr) Jan-26 Feb-26 Mar-26 FY27 Total Drawdowns 3,917 (Jan-26 to Mar-26) Opening Cash & Equivalents (A) 2,329.4
Slide 29: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 28 www.creditaccessgrameen.in
Slide 30: Past Five Years Performance Track Record (1/2)
Past Five Years Performance Track Record (1/2) Gross Loan Portfolio (GLP) (INR Cr) Disbursements (INR Cr) Borrowers (‘000) CAGR CAGR CAGR 5% 18% 16% 23,134 4,918 4,694 26,714 25,948 20,037 4,264 18,539 3,912 3,824 21,031 15,466 16,599 13,587 11,011 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 F
Slide 31: Past Five Years Performance Track Record (2/2)
Past Five Years Performance Track Record (2/2) Note: Refer Annexure for definition of key ratios Margin Analysis (%) Operating Efficiency (%) Asset Quality (%) 20.9% 20.6% 5.01% 5.07% 18.8% 18.3% 18.9% 4.8% 4.9% 4.7% 4.5% 4.5% 3.61% 13.0% 12.9% 1.78% 1.95% 11.6% 4.43% 4.76% 10.7% 10.9% 38.1% 39.0% 3
Slide 32: Past Eight Years Cross Cycle Performance
Past Eight Years Cross Cycle Performance Cross-Cycle ROA (%) Cross-Cycle ROE (%) FY18 FY19 FY21 FY22 FY25 UP Farm Floods, NBFC Covid Covid Multiple Loan Waiver Crisis Wave 1 Wave 2 Headwinds 5.6% 5.1% 24.9% 5.0% 22.2% 4.2% 3.6% Avg: 3.6% 18.0% 16.3% Avg: 14.4% 12.9% 2.2% 1.9% 9.0% 7.7% 0.9% 4.0% FY1
Slide 33: Proven Leadership Team with Demonstrated Track Record
Proven Leadership Team with Demonstrated Track Record & Managing Director (16 years) (6 years) (5 years) (5 years) & Compliance Officer (6 years) (3 years) (3 years) (26 years) (23 years) (20 years) (3 years) (21 years) (23 years) (25 years) (2 years) (6 years) • Highly stable senior management enab
Slide 34: 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 Fully aligned with new harmonized guidelines in terms of - JLG Benefits: ✓ Formulation of Board approved policies ✓ Strong group bonding ✓ Process modifications ✓
Slide 35: Focus on Customer Centricity, Loyalty & Retention
Focus on Customer Centricity, Loyalty & Retention “One of the Lowest Cost Organised Financer” - One Stop Shop providing Support to Various Lifecycle Needs of the Customer One of the lowest lending rates in MFI industry Loan Customer Centric Ticket Size Tenure Purpose Type Products (INR) (months) Div
Slide 36: Calibrated Expansion Through Contiguous District-Based Approach
Calibrated Expansion Through Contiguous District-Based Approach Systematic geography selection based on the availability of infrastructure, competition, historical performance trend, social/ economic/ political/ climate risk, growth potential Ensures consistent replication of processes/ controls Fam
Slide 37: Unique Human Capital, Internal Audit & Risk Management
Unique Human Capital, Internal Audit & Risk Management Well-Established Operational Structure Multi-Pronged Approach For Risk Management Sound Understanding of Rural Market Internal Audit (IA): 443 – team members Business Heads • IA frequency – minimum 8 times in a year at branches, 4 times at RO, •
Slide 38: Strong Internal Control Structure: Three Lines Of Defence
Strong Internal Control Structure: Three Lines Of Defence 3rd line of defence: Internal Audit team 2nd line of defence: Risk team 1st line of defence: Field & Quality Control teams Zonal Manager / State Head Zonal Manager handles 100 – 120 branches Regional / Divisional Regional Manager handles 40-5
Slide 39: Continuous Technology Enhancement to Drive Operational Efficiency
Continuous Technology Enhancement 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 • Digitised all customer touchpoints • Inv
Slide 40: 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 Lending Employee District-based Engagement Incentive Segment Due-Diligence Mo
Slide 41: Strong Parentage & Shareholder Base
Strong Parentage & Shareholder Base Shareholding Pattern (%) – December 2025 Others, 8.81 MF, AIF, Insurance, Promoter 13.23 Group, 66.28 FPI, 11.68 Committed to Strong Financial Support Micro Finance Business via Patient Capital • Invested through multiple rounds of • CreditAccess India B.V. (CAI)
Slide 42: Key Ratios: Definitions
Key Ratios: Definitions 1. Portfolio Yield = (Interest on loans – processing fees + Income from securitisation)/ Avg. quarterly on-book loans 2. Weighted Avg. COB = (Borrowing cost – finance lease charges) / Daily average borrowings (excl. Financial Liability towards Portfolio Securitized) 3. Margin
Slide 43: Thank You!
For Further Queries: Thank You! Nilesh Dalvi Chief Financial Officer Contact No – 9819289131 Email Id – nilesh.dalvi@cagrameen.in Sahib Sharma DGM – Investor Relations Contact No – 7066559383 Email Id – sahib.sharma@cagrameen.in 42 www.creditaccessgrameen.in www.creditaccessgrameen.in 42