Fedbank Financial Services Ltd. · NSE:FEDFINA
Fedbank Financial Services — Q2 FY26 Earnings Presentation
41 slides from Fedbank Financial Services's earnings presentation, Oct 17, 2025
Slide 1: Cover letter to stock exchanges
Secretarial Department October 17, 2025 Ref. FEDFINA/ CS/98/ 2025-26 The Manager, The Manager, Listing Department Department of Corporate Services, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, Rotunda Building, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers,
Slide 2: Investor Presentation Q2 FY26
FEDBANK FINANCIAL SERVICES INVESTOR PRESENTATION Q2 FY26 EMPOWERING EMERGING INDIA WITH EASY ACCESS TO LOANS
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (‘Presentation”), which have been prepared by Fedbank Financial Services Limited or Fedfina (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subsc
Slide 4: Table Of Content
Table Of Content Who we are Who we are Our Franchise Our Business Financial Performance Technology, Digital, ESG & CSR
Slide 5: Executive Summary: Q2 FY26
Executive Summary : Q2 FY26 Business ➢ AUM Growth: 13.5% YoY increase to ₹16,136 Cr ➢ Gold Loan AUM: 36.4% YoY growth to ₹6,731 Cr, contributing 41.7% to total AUM ➢ Mortgage AUM: 22.6% YoY growth to ₹8,796 Cr ➢ Disbursals: 36.6% YoY growth to ₹5,205 Cr, driven by 70.3% YoY rise in gold loan disburs
Slide 6: Q2FY26 Result Summary
Q2FY26 Result Summary YoY QoQ ₹ 16,136 Cr ₹ 5,205 Cr ₹ 80.2 Cr ₹ 2,710 Cr 72.5 AUM Disbursements Profit After Tax Shareholder’s Funds Book Value/Sh. 13.5% 2.8% 36.6% -12.3% 24.2% 6.9% 12.8 % 2.9 % 12.3% 2.7% 97.7% ₹ 10,230 Cr 21.6% 699 4894 Secured AUM Borrowings1 CRAR Branches Employees3 1127 bps 1
Slide 7: Who we are
Who we are Our Franchise Our Business Financial Performance Technology, Digital, ESG & CSR
Slide 8: About Fedfina
About Fedfina Product Suite ➢ Parentage : Majority-owned by Federal Bank, with strong access to debt & equity. ➢ Vision : “Empowering Emerging India with Easy Access to Loans.” ➢ Target Segment: Catering to MSMEs with tailored loan solutions. ➢ Geographical Presence: Wider footprint across 17 states
Slide 9: Our Board of Directors
Our Board of Directors Shyam Srinivasan K.V.S. Manian Harsh Dugar Non- Executive Chairman & Non-Executive Non-Executive Non-Executive Director Nominee Director Nominee Director Maninder Juneja Sunil Gulati Ramesh Sundararajan Non-Executive Independent Director Independent Director Nominee Director S
Slide 10: Management Team
Management Team Parvez Mulla MD & CEO C.V. Ganesh Anila Rajneesh Vikram Rathi Chief Financial Chief Human Chief Risk Officer Officer Resource Officer K Sureshkumar Jagadeesh Rao Shardul Kadam CBO – Mortgage CBO - Gold Loan & CBO – Mortgage (Medium Ticket) & Chief Marketing (Small Ticket) (Business L
Slide 11: Shareholding Pattern
Shareholding Pattern Shareholding : 30th September 2025 Top Institutional Shareholders :30th September 2025 Investor Details % Holding Others 18.7% Federal Bank Ltd 60.9 True North Fund VI LLP 8.6 FII 1.2% Nuvama Private Investment 2.8 MFs 2.0% SBI Life Insurance 2.4 Insurance Cos. 3.1% The Fedral B
Slide 12: Our Growth Journey
Our Growth Journey H1 FY26 • AUM: ₹ 161 bn (H1FY26) • Branches: 699 (H1FY26) • Employees: 4,894 (H1FY26) FY20 – FY22 • AUM: ₹62 bn (FY22) Initial Public • Branches: 516 (FY22) Offering of ₹10.9 158 161 FY16 – FY19 • Employees: 2,855 (FY22) Bn Long-term credit rating • AUM: ₹20 bn (FY19) Credit Ratin
Slide 13: Our Vision & Values
Our Vision & Values Vision Empower Emerging India with Easy Access to Loans Values Execution Excellence People Focus Integrity Customer Centric ✓ Clear Objectives ✓ Empowerment ✓ Transparency ✓ Customer Goals ✓ Resource Optimization ✓ Development Opportunities ✓ Accountability ✓ Clear Communication
Slide 14: Market: Long runway for growth
Market Household credit to GDP ratio (%)1 Retail credit growth to continue 2 76 125 69 60 42 82 36 72 34 61 45 51 FY21 FY22 FY23 FY24 FY25 FY28P MSME Credit Addressable Market 3 Household Gold 3 INR 25 Tn Pledged with INR 92 Tn Financiers, 7% Unpledged, credit gap 93% Credit Gap Formal Sector Long r
Slide 15: Our Product Suite
Our Product Suite Secured Against Collateral Category Mortgage Loans Gold Loans Business Loans AUM 8,796 6,731 375 (₹Cr) (54.5%) (41.7%) (2.3%) (% of total) Avg. Ticket Size 30.1 2.0 (₹ Lakh) Disbursement (₹Cr) 760 4,445 & (Origination ( 13.3%) (19.1^%) Yield) Disbursement Discontinued Average Origi
Slide 16: Our Product Suite: Mortgage Loans
Our Product Suite Mortgage Loans Category Small Ticket LAP and HL Medium Ticket LAP AUM 3,706 5,090 (₹Cr) (23.0%) (31.5%) (% of total) Avg. Ticket Size 13.7 61.3 (₹ Lakh) Disbursement (₹Cr) 206 554 & (Origination (15.5%) (12.3%) Yield) Average Origination 51.9% 51.7% LTV Underwriting Assessed Income
Slide 17: Our Customers
Our Customers Category Small Ticket LAP Medium Ticket LAP Gold Loan Customer Food and Tea Stall Retail Trading of Snacks and Savories Tailoring Business Expand his product offering and to Refurbish a few existing outlets and Purchase additional sewing machine & Requirement renovate the store open 2
Slide 18: Our Footprints
Our Footprints Comprehensive Branch Network Branch & AUM Mix 699 17 157 24% Branches States 285 and UTs Branch AUM 43% 13 1 Mix Mix 7 27 48 257 33% 36 25 104 South West North South West North 20 Branch Expansion 1 127 Gold Loan Co-Located MSME Hubs 44 699 More than 70 branches 694 5 621 205 20-70 br
Slide 19: Our Franchise
Who we are Our Franchise Our Business Financial Performance Technology, Digital, ESG & CSR
Slide 20: Disbursements & AUM
Disbursements & AUM ₹ Cr Gold Loan Non- Gold Loan CAGR: 33.8% Disbursements 18,788 5,933 5,578 5,205 4,186 649 13,579 4,395 998 760 10,748 3,810 4,202 954 7,470 3,312 1,200 5,893 14,602 5,284 4,379 1,955 4,580 4,445 760 9,377 3,441 1,732 7,436 2,610 5,133 5,515 2,647 FY20 FY21 FY22 FY23 FY24 FY25 Q2
Slide 21: Disbursements
Disbursements ₹ Cr Small Ticket LAP & HL Medium Ticket LAP Business Loan 1,475 2,303 1,367 1,102 1,119 1,004 1,359 878 765 1,091 671 370 597 518 328 287 210 246 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 270 725 359 230 611 200 206 562
Slide 22: Gold Loan: Key Metrics
Gold Loan : Key Metrics AUM Per Branch (₹Cr) Gold Tonnage Branch Count 463 484 484 486 543 11.3 11.2 11.1 13.0 12.4 12.1 10.7 10.7 10.7 10.7 Q2 FY25 Q3 FY25 Q4FY25 Q1FY26 Q2FY26 Q2 FY25 Q3 FY25 Q4FY25 Q1FY26 Q2FY26 Active Customer Base (# Lakh) LTV : AUM 2.5 2.5 2.6 2.6 2.6 69.5% 69.5% 65.7% 63.7% 6
Slide 23: Geographical AUM Mix
Geographical AUM Mix Mortgage Loan Gold Loan 5% 6% 3% 9% 9% 14% 13% 17% 17% 19% 19% 20% 24% 20% 28% 28% 27% 29% 28% 29% 32% 30% 38% 25% 43% 23% 44% 43% 77% 67% 66% 63% 62% 56% 55% 52% 50% 49% 45% 40% 37% 37% FY20 FY21 FY22 FY23 FY24 FY25 Q2 FY26 FY20 FY21 FY22 FY23 FY24 FY25 Q2FY26 South West North
Slide 24: Yields, CoB and Spreads
Yields, CoB and Spreads Spreads Yields Cost of Borrowings Spreads Yields Cost of Borrowings 17.4% 17.3% 17.1% 17.0% 16.8% 15.8% 16.2% 16.2% 15.5% 15.6% 14.5% 8.8% 9.2% 9.0% 9.0% 8.4% 8.3% 8.6% 8.5% 8.4% 7.4% 7.8% 8.2% 8.0% 8.1% 8.3% 8.1% 8.2% 8.7% 7.2% 7.4% 7.7% 6.1% FY 20 FY 21 FY 22 FY 23 FY 24 FY
Slide 25: Off-book
Off-book ₹ Cr AUM AUF Off Book % Product Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Mortgage 7,176 8,539 8,796 5,439 5,995 5,968 24.2% 29.8% 32.1% Gold Loan 4,934 6,332 6,731 4,361 5,184 5,436 11.6% 18.1% 19.2% Business Loan 1,932 618 375 1,290 270 104 33.2% 56.4% 72.2%
Slide 26: Quality of the Book
Quality of the Book ~75% AUM from customers with CIBIL >7001 Medium Ticket LAP Small Ticket LAP & HL Business Loan 3% 1% 4% 9% 4% 12% 8% 16% 67% 80% 95% >700 650-700 <650 0/-1 >700 650-700 <650 0/-1 >700 <=700 0/-1 Granular loan book with high quality collateral 97.7% 82.1% ₹ 30.1 Lakh AUM secured c
Slide 27: Portfolio Quality Indicators (1/2)
Portfolio Quality Indicators (1/2) Gross Stage III Net Stage III PCR – Stage III 38.3% 32.0% 1.9% 2.0% 1.9% 1.5% 21.9% 1.2% 1.3% Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 1+ DPD 30+ DPD ECL Provisions 8.0% 5.1% 7.3% 7.5% 4.6% 2.2% 2.0% 4.0% 1.3% Q2 FY25 Q1 FY26 Q2 FY26
Slide 28: Portfolio Quality Indicators (2/2)
Portfolio Quality Indicators (2/2) ₹ Cr Q2FY26 Gross Stage III % Net Stage III % Particulars Gross Stage Net AUF PCR (%) Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 III Stage III Mortgage 5,968 191.5 116.9 38.9% 3.2% 3.4% 3.2% 2.5% 1.9% 2.0% Gold Loan 5,436 19.4 15.3 21.1% 0.6% 0.3% 0.4% 0.5% 0.
Slide 29: Expected Credit Loss
Expected Credit Loss ₹ Cr Particulars Q2 FY25 Q1 FY26 Q2 FY26 FY 25 Gross Stage 1 Assets 10,636 10,985 11,132 11,107 % of total loan assets 94.4% 94.0% 94.8% 93.8% ECL provision 56.0 60.7 59.3 69.6 ECL provision % of assets 0.2% 0.3% 0.4% 0.3% Gross Stage 2 Assets 420 472 387 493 % of total loan ass
Slide 30: Funding Profile
Funding PortfolioProfile Quality Indicators Funding Profile ALM Position as on 30th September 2025 Daily Average Cost of (Cumulative) ₹ Cr Borrowing* 5% 2% 8.73% 8.69% 8.72% 8.56% 3,203 8.19% 1,688 < 3 months 17% 1,516 4,725 < 6 months 2,290 56% 2,436 19% 9,809 < 1 year 5,655 4,144 Term Loans Direct
Slide 31: Financial Performance
Who we are Our Franchise Our Business Financial Performance Technology, Digital, ESG & CSR
Slide 32: Financials
Financials ₹ Cr Particulars Q2 FY25 Q1 FY26 Q2 FY26 QoQ YoY FY 25 Operational Information Branches (#) 665 668 699 4.6% 5.1% 694 Disbursements 3,810 5,933 5,205 -12.3% 36.6% 18,788 AUM 14,218 15,697 16,136 2.8% 13.5% 15,812 Employees (#) 4,743 4,797 4,894 2.0% 3.2% 4,568 Financial Information Total
Slide 33: Balance Sheet
Balance Sheet ₹ Cr Balance Sheet Q2 FY25 Q1 FY26 Q2 FY26 QoQ YoY FY 25 Assets Cash & Cash Equivalents & Other bank Balance 422 830 499 835 Loans 11,156 11,504 11,571 11,646 Investments 687 485 546 404 Other Financial Assets & Receivables 128 177 477 107 Non-Financial Assets 242 261 270 258 Total Ass
Slide 34: Profit & Loss Statement
Profit & Loss Statement ₹ Cr Profit & Loss Statement Q2 FY25 Q1 FY26 Q2 FY26 QoQ YoY FY 25 Interest Income 457.7 491.6 501.1 1858.6 Interest Expenses 214.2 218.0 213.8 853.8 Net Interest Income (Core) 243.4 273.6 287.2 5.0% 18.0% 1004.9 Net Gain on Direct Assignment 21.4 -5.5 6.6 65.9 Net Interest I
Slide 35: RoA Tree
RoA Tree RoA Tree Q2 FY25 Q1 FY26 Q2 FY26 FY 25 Interest Income / Average total assets 14.9% 14.8% 15.1% 15.2% Interest Expenses / Average total assets 7.0% 6.6% 6.4% 7.0% Net Interest Income (Core) / Average total assets 7.9% 8.3% 8.6% 8.2% Net Gain on DA / Average total Assets 0.7% -0.2% 0.2% 0.5%
Slide 36: Technology, Digital, ESG & CSR
Who we are Our Franchise Our Business Financial Performance Technology, Digital, ESG & CSR
Slide 37: Technology Landscape
Technology Landscape Origination Underwriting Loan Operations Customer Service • Seamless API integration between core system & 3rd party partners –multi • Ubiquitous presence in digital universe - • Fully Integrated API stack : OCR, KYC • Cloud based Loan Origination System bureau, E-nach , penny d
Slide 38: Digital Landscape
Digital Landscape Fedfina Loans Fedfina Lite Fedfina Collect 12 Lakh+ Downloads 80%+ Digital Registrations 67%+ Digital Payments Customer Acquisition & Employee Productivity Collection Management Servicing Well established digital presence 37
Slide 39: ESG
ESG ESG : Framework ESG : Purpose Create substantial and profound impact by actively promoting and nurturing a Key Performance Indicators sustainable culture within the workplace, fostering a sense of care and support ESG Policy for employees and undertake initiatives to develop sustainable communit
Slide 40: Making a Change
Making a Change Nation Skill Building As part of our Corporate Social Responsibility (CSR) commitment, FEDFINA is proud to launch a transformative initiative focused on skilling the next generation of finance professionals. This program is designed to equip apprentices with industry-relevant skills
Slide 41: Thank You
THANK YOU investor@fedfina.com www.fedfina.com
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