Paisalo Digital Ltd. · NSE:PAISALO
Paisalo Digital — Q2 FY2026 Earnings Presentation
47 slides from Paisalo Digital's earnings presentation, 2025
Slide 1: International Investor Presentation Q2 FY 2026
INTERNATIONAL INVESTOR PRESENTATION Q2 FY 2026 INR to USD conversion rate of 88.79 Used across the deck. 1 Investor Presentation Q2 FY 2026 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 PILLARS 04 SHAREHOLDING PATTERN 05 FINANCIAL PERFORMANCE 06 ENVIROMENT SOCIAL GOVERNANCE 3 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 4: Result Snapshot
RESULT SNAPSHOT Q2 FY 2026 4 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 5: Highlights for the Quarter
Highlights for the Quarter Robust Growth Profitability & Asset Quality Record AUM at $613.72 mn (+20% YoY), led by highest ever Net Interest Income was up 15% YoY at $14.21 mn. disbursements of $124.17 mn (+41% YoY) during the quarter. Achieved Q2FY26 Profit Before Tax of $7.77 mn and a Profit After
Slide 6: Q2 FY 26 Performance Summary
AUM Portfolio Yield Borrowing Cost $613.72 Mn 17.0% 10.5% +20% YoY Disbursement -128 bps YoY NIM -127 bps YoY Total Income $124.17 Mn 6.5% -1 bps YoY $25.23 Mn +41% YoY +20% YoY Q2 FY 26 Performance Summary ROA Net Worth CAR Collection PAT 3.56% $189.19 Mn 38.2% Effciency $5.80 Mn +18% YoY Tier 1 -
Slide 7: Robust Financial & Operational Performance
Robust Financial & Operational Performance AUM ($ Mn) Disbursement ($ Mn) Customer Franchise (Mn) 147.42 13 613.72 589.33 589.04 11 124.17 510.77 534.82 9 110.25 8 7 87.83 85.38 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2 FY 25 Q3 FY 25 Q4 FY 25 Q1FY26 Q2FY26 AUM ($ Mn)
Slide 8: 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% 99.8% 17.85% 17.23% 11.7% 98.8% 98.4% 16.94% 17.00% 11.75% 11.26% 10.54% 10.70% 10.48% 6.53% 6.59% 4.3% 4.5% 3.9% 6.40% 6.53% 3.7% 3.6%
Slide 9: About Paisalo
ABOUT PAISALO Q2 FY 2026 9 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 10: 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 Customer Franchise
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 $613.72 Mn 22 ~13 Mn 0.81% $424.45 Mn 17.0% Branches Disbursement Secured Portfolio NNPA Capital Adequacy N
Slide 12: Proven through Cycles, Scaling with Stability
Proven through Cycles, Scaling with Stability Assets Under Management ($ Mn) Credit Rating States Touch Points IVR A+/Stable 10 100+ $613.72 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 SBI
Slide 13: 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 14: Disruption
3.1 DISRUPTION Revolutionizing and Disrupting Credit Q2 FY 2026 14 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 15: 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 16: MSME Loans: The Opportunity
MSME LOANS: THE OPPORTUNITY THE PROBLEM $1,554.19 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
Slide 17: 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 18: Scaling Loan Book with Sustained Disbursals
Scaling Loan Book with Sustained Disbursals AUM expands by 20% YoY to $613.72 mn in H1FY26, with steady expansion across segments AUM Breakup ($ Mn) Other Income Generation 174.00 168.14 6% Other MSME/SMEs 102.35 Food & Hospitality 58.08 421.19 12% 25% 52.76 342.49 291.02 245.69 Vehicle 208.28 3% FY
Slide 19: 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 20: 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 21: 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 22: 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 23: 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 24: Underwriting & Risk Management
3.3 UNDERWRITING & RISK MANAGEMENT Q2 FY 2026 24 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 25: 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 26: 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 27: 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 28: 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 29: Liability & Co-lending
3.4 LIABILITY & CO-LENDING Q2 FY 2026 29 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 30: 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 31: 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 32: Prudent ALM
Prudent ALM Positive Asset Liability Management across Buckets $ Mn 272.56 Maintaining a consistently positive ALM gap which strengthens the company’s liquidity position and reduces refinancing risk. 171.95 155.59 121.50 80.53 Positions the company to meet all debt obligations 55.13 comfortably thro
Slide 33: Leadership
3.5 LEADERSHIP Q2 FY 2026 33 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 34: 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 35: 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 36: Shareholding Pattern
SHAREHOLDING PATTERN Q2 FY 2026 36 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 37: Shareholding Structure
Shareholding Structure $388.55 Mn 909 Mn ~114k 10% Dividend Market Capitalization Outstanding Shares Shareholders Others, Key Institutional Investors 30.27% Promoter and SBI Life Insurance LIC Life Insurance Promoter Group, 41.16% As of Maybank Securities Eminence Global Fund September 2025 Quadratu
Slide 38: Shareholding Movement
Shareholding Movement Promoters have continuously increased their stake over time Total Shares Outstanding (Mn) 878 898 898 902 910 811 846 846 109 130.0 134.0 123.8 128.9 136.4 188.9 275.3 Others 154.1 211.5 144.6 167.2 216.6 176.0 140.3 Institutions 259.9 268.6 268.6 238.6 GDR* 336.6 336.6 310.0 2
Slide 39: Financial Performance
FINANCIAL PERFORMANCE Q2 FY 2026 39 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 40: Profit & Loss Summary
Profit & Loss Summary Particulars Q2FY26 Q2FY25 Q1FY26 YoY% QoQ% H1FY26 H1FY25 YoY% Interest Income ($ Mn) 23.39 18.86 22.63 24% 3.4% 46.02 37.46 22.8% Total Income ($ Mn) 25.23 21.06 24.63 19.8% 2.4% 49.86 42.08 18.5% Interest Expense ($ Mn) 11.02 8.71 10.62 26.5% 3.7% 21.62 18.06 19.7% Net Interes
Slide 41: Balance Sheet Summary
Balance Sheet Summary Particulars As on 30th September, 2025 As on 31st March, 2025 Assets ($ Mn) Cash and Bank Balances 6.39 11.80 Receivables 3.11 2.39 Loan Assets 591.19 557.98 Investments 10.19 2.29 Other Financial Assets 5.25 3.90 Current & Deferred Tax Assets (Net) 0.95 3.18 Property, Plant an
Slide 42: Financial Performance over the years
Financial Performance over the years Particulars FY2021 FY2022 FY2023 FY2024 FY2025 H1FY2026 Operational Information AUM ($ Mn) 261.04 303.78 393.37 516.49 589.33 613.72 Disbursement ($ Mn) 160.35 184.06 292.71 404.34 418.94 209.55 Number of Touch Points 132 133 1,052 2,455 3,565 4,380 Number of Emp
Slide 43: ESG
ESG Q2 FY 2026 43 Investor Presentation Q2 FY 2026 www.paisalo.in
Slide 44: 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 45: 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 46: 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 47: 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