Csl Finance Limited · NSE:CSLFINANCE
Csl Finance — Q4 FY26 Earnings Presentation
46 slides from Csl Finance's earnings presentation, May 26, 2026
Slide 1: Exchange filing cover letter
CIN: L74899DL1992PLC051462 May 26, 2025 National Stock Exchange of India BSE Limited Limited Corporate Relationship Department Exchange Plaza, C-1, Block-G, Bandra Phiroze, Jeejeebhoy Towers, Dalal Street, Kurla Complex, Bandra (E), Mumbai - Mumbai-400001 400051 BSE Scrip Code: 530067 NSE Symbol: CS
Slide 2: Q4 & FY26 Investor Presentation
Q4 & FY26 Investor Presentation May 2026
Slide 3: FY26 Performance Highlights
FY26 2 Performance Highlights CSL Finance at a Glance FY26 - Financial Performance FY26 - Operational Performance
Slide 4: CSL Finance At A Glance
3 CSL Finance At A Glance Scale of Loan Book Liability Asset Distribution Profitability Operations Granularization Profile Quality ₹ 1,395 Crore 44 100% 36 ₹ 168 Crore 1.10% Up 21% in FY26 Branches Secured Loan Active Lender Up 15% in FY26 GNPA Loan Book Book Relationships Net Interest Income ₹ 1,44
Slide 5: FY26 – Financial Performance
4 FY26 – Financial Performance Loan Book & AUM Growth Change in AUM-Mix Robust Asset Quality Comfortable Leverage Ratio: (#) (%) (%) Further Headroom To Grow (₹ crore) 21% 1.10 1.28 1.39 ₹615 Cr 1,395 1,448 YOY Change Net Worth 1,157 1,195 Loan Book 0.81 66 69 0.46 0.34 21% 34 31 ₹270 Book Value YOY
Slide 6: FY26 - Operational Performance
5 FY26 - Operational Performance Branch AUM Per Branch: Loan Accounts: Lending Team Network SME (Excluding MSL) SME (Excluding MSL) Partners Strength (#) (₹ Lakhs) (#) (#) (#) 6% 5% 6 2% YOY YOY Lenders YOY Change Change On-boarded Change 817 3,223 460 469 44 3,063 36 43 773 32 FY25 FY26 FY25 FY26 F
Slide 7: Quarterly Business Update
6 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 8: Business Growth YoY
7 Business Growth YoY Assets Under Disbursement Collection Management Efficiency ₹1,195 Cr 21% ₹1,448 Cr ₹286 Cr 5% ₹301 Cr 98% Consistent 98% Performance Q4’25 Q4’26 Q4’25 Q4’26 Q4’25 Q4’26 NII PAT AUM Mix (SME Retail: Wholesale) 3% Shift ₹37.4 Cr 21% ₹45.4 Cr ₹19.0 Cr 2% ₹19.4 Cr 34:66 in Favour o
Slide 9: Loan Book Size
8 Loan Book Size Disbursements Collections AUM Collection Efficiency (₹ crore) (₹ crore) (₹ crore) (%) 5% -16% 43% 20% 21% -1% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 357 75 53 337 88 50 98 98 98 98 98 305 301 38 1,385 1,395 286 293 282 1,309 1,249 256 236 1,157 229 Q4FY25
Slide 10: Asset Quality
9 Asset Quality Gross NPA Net NPA Provision Coverage Ratio Write-offs & Recoveries (%) (%) (%) (₹ crore) 64 BPS 9 BPS 47 BPS 7 BPS YOY Change QOQ Change YOY Change QOQ Change 1.10 0.81 1.00 0.75 256 2.5 229 201 2.0 1.5 0.56 0.42 0.51 0.39 128 1.3 0.46 122 0.34 1.0 1.0 0.9 0.9 0.5 0.1 Q4FY25 Q1FY26 Q
Slide 11: Asset Quality: Stage Analysis
10 Asset Quality: Stage Analysis Classification of Assets Basis the ECL Computation as Per Ind -AS: (₹ crore) PARTICULARS Q4FY25 Q3FY26 Q4FY26 Gross Stage 3 (GNPA) 5.31 13.89 15.27 % portfolio in Stage 3 0.46% 1.00% 1.10% ECL provision Stage 3 1.33 3.55 3.94 Net Stage 3 3.99 10.33 11.33 ECL Provisio
Slide 12: P&L Highlights
11 P&L Highlights Net Interest Income Total Income Profit After Tax Yields (₹ crore) (₹ crore) (₹ crore) (%) 22% 10% 22% 7% 2% -7% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 18.7 18.7 18.2 18.2 18.3 45.5 69.2 40.3 40.9 41.4 64.4 24.5 63.8 37.4 59.6 16.5 16.5 16.5 16.5 16.5 56.
Slide 13: Treasury Update
12 Treasury Update 1 The Company has good 3 Credit Rating for the liquidity of ₹110.4 crore as Company has been Leverage Liquidity on 31st March 2026. reaffirmed as A- | Stable (Ratio) (₹ crore) from Acuite Ratings & Research as on 31st March, 2026 1.50 The Company The Leverage Ratio is at a 1.38 1.
Slide 14: Quarterly Financial Snapshot
13 Quarterly Financial Snapshot (₹ crore) PARTICULARS Q4FY25 Q3FY26 Q4FY26 Disbursements 286.37 356.58 300.51 Revenue 56.68 64.44 69.17 Interest Income 52.85 61.29 65.35 PBT 24.95 25.49 30.18 PAT 18.98 20.92 19.42 Bad debts written off 0.07 1.04 2.51 Bad debts recovered 1.01 0.95 0.53 Loans and Adva
Slide 15: Operational Updates
14 Operational Updates Loan Book • The Board has approved a new ECL policy, • The Company's lender base now stands at adopted in this board meeting, aligned • AUM stood at ₹1,448 crore, up 21% • SME Retail disbursements, which were 36, spanning leading public and private with the Company's current b
Slide 16: Lending Partners
15 Lending Partners Banks & SFBs Newly Added NBFC Kotak Mahindra Investments Limited
Slide 17: 5Y Financial Snapshot
16 5Y Financial Snapshot (₹ crore) PARTICULARS FY22 FY23 FY24 FY25 FY26 Disbursements 491.10 758.72 1,052.04 1,118.74 1255.39 Revenue 74.62 117.54 166.58 216.04 257.02 Interest Income 67.66 108.54 153.72 199.11 241.82 PBT 44.98 61.47 85.60 96.88 112.10 PAT 33.68 45.52 63.36 72.09 86.11 Bad debts wri
Slide 18: ROA Tree
17 ROA Tree ROA Tree FY26 FY25 As a % Average On-book AUM Profitability (PBT / Avg On-book AUM) Total Income 20.15% 20.75% ROA 8.79% Finance Cost 6.55% 6.23% Opex 3.17% 3.85% 14.81% 9.30% Credit Cost 0.54% 0.75% Leverage 14.18% (Avg On-book AUM / Avg Equity) PBT 8.79% 9.30% 1.37 PAT 6.75% 6.92% 1.28
Slide 19: About CSL Finance
18 About CSL Finance Introduction CSL’s Business Model Key Differentiators of CSL Business Verticals & Products SME Retail Wholesale
Slide 20: Introduction
19 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 21: CSL’s Business Model
20 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 22: Key Differentiators of CSL
21 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 23: Business Verticals & Products
22 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 24: SME Retail
23 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 25: SME Retail (1/3)
24 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 26: SME Retail (2/3)
25 SME Retail (2/3) Presence 9 28% Rajasthan 7 27% Gujarat 6 14% Punjab 7 14% Haryana 2 0% New Delhi 3 5% Uttarakhand 10 12% Uttar Pradesh 44 Total Branch Network Branch AUM DISTRIBUTION (in %) 23% Ageing 37% <1 year Clustered 1-3 year Approach to expanding branch network, based on 40% understanding
Slide 27: SME Retail (3/3)
26 SME Retail (3/3) SME Active Accounts Average Loan-to-value Average Ticket Size Average Tenure (#) (%) (₹ Lakh) (Year) 42 13 3,242 45 12 7 7 7 7 7 3,209 3,223 11 11 38 38 10 40 37 37 35 3,040 3,013 30 25 20 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26
Slide 28: Digital-First Operating Model
27 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 29: Digital On-Boarding & Processing
28 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 30: Proprietary Applications
29 Proprietary Applications Collections Mobile Application Sales & Credit Mobility Application
Slide 31: Digital Collections & Servicing
30 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 32: Data Analytics & Other Capabilities
31 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 33: Wholesale
32 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 34: Wholesale (1/2)
33 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 35: Wholesale (2/2)
34 Wholesale (2/2) Active Accounts Average Loan-to-Value Average Ticket Size Average Tenure (#) (%) (₹ crore) (Year) 114 113 111 111 36 36 36 36 16 35 3 3 3 3 3 93 13 13 13 12 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY2
Slide 36: Building for Leadership
35 Building for Leadership Building for Tomorrow Well Managed ALM Conservative Leverage Standards
Slide 37: Building a Robust Lending Franchise
36 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 38: Well Managed ALM
37 Well Managed ALM Cumulative Inflow - Outflow 32 32 33 68 411 547 0 (₹ Crore) 850 707 750 650 622 550 364 450 350 226 250 191 181 97 96 96 106 105 65 75 150 46 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 39: Conservative Leverage Standards
38 Conservative Leverage Standards CONSERVATIVE LEVERAGE THRESHOLD 700 1.5-2X in Wholesale & <4X in SME Retail 90% Total Equity Leverage Ratio Capital Adequacy Ratio Column2 80% 600 73% 79% 615 65% 66% 70% 64% 500 542 60% 473 50% 400 47% 50% ₹54 51% 43% Crore Equity ₹48 40% 320 362 300 Fund raise in
Slide 40: Leadership
39 Leadership Board of Directors Management Team
Slide 41: Board of Directors
4 0 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 inc
Slide 42: Management Team
41 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- Officer Officer Str
Slide 43: Strategy
42 Strategy Strategic Priorities Key Takeaways
Slide 44: Strategic Priorities
43 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 45: Key Takeaways
44 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 46: 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