Aavas Financiers Ltd. · NSE:AAVAS
Aavas Financiers — Q4 FY26 Earnings Presentation
39 slides from Aavas Financiers's earnings presentation
Slide 1: Investor Presentation Q4 & FY26
INVESTOR PRESENTATION Q4 & FY26
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Aavas Financiers Ltd. (the “Company”), without any specific objectives and solely for information purposes and do not constitute directly or indirectly any advertisement, advise, offer, recom
Slide 3: Executive Summary – FY26
Executive Summary – FY26 Financial Capital Assets Customers Distribution Performance Structure ₹ 234.5 bn 99.5% ₹ 6,556 mn 435 ₹ 50.5 bn AUM Retail Loans PAT* Branches Net Worth ₹ 67.8 bn 65% | 35% 12.82% | 7.62% 15 44.56% Disbursement HL | NHL Yields | CoB States/UTs CRAR ₹ 67.1 bn | 7.61% 2,70,852
Slide 4: Management Commentary on FY26
Management Commentary on FY26 FY26 was a year of landmarks and milestones. • Change of promoter welcoming CVC Capital Partners a leading global private market manager with > €200 bn of AuM • Balance Sheet crossing Rs. 200 billion • Net Worth crossing Rs. 50 bn mark. • Lifetime disbursements > Rs 400
Slide 5: Key Performance Highlights – Q4FY26 (YoY)
Key Performance Highlights – Q4FY26 (YoY) Disbursement (₹ mn) NIM (₹ Mn) PAT (₹ Mn) +16% +18% +18% 23,481 4,385 1,817 20,238 3,702 1,540 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Net Worth (₹ mn) RoA (%) RoE (%) +16% +13 bps +27 bps 14.67% 50,508 3.50% 43,608 14.40% 3.38% Mar-25 Mar-26 Q4 FY25 Q4 FY
Slide 6: Key Performance Highlights – Q4FY26 (QoQ)
Key Performance Highlights – Q4FY26 (QoQ) Disbursement (₹ mn) 1+ DPD (%) GNPA (%) +36% -63 bps -14 bps 23,481 17,219 3.80% 1.19% 3.17% 1.05% Q3 FY26 Q4 FY26 Dec-25 Mar-26 Dec-25 Mar-26 Branches NIM (%) Spread (%) Impact of 15 bps +31 +44 bps -14 bps reduction in PLR 435 w.e.f. Mar-26 8.45% 5.34% 404
Slide 7: Key Performance Highlights – FY26
Key Performance Highlights – FY26 AUM (₹ mn) Disbursement (₹ Mn) 1+ DPD (%) +15% +11% -22 bps 234,517 67,751 204,202 61,230 3.39% 3.17% Mar-25 Mar-26 FY25 FY26 Mar-25 Mar-26 Spread (%) NIM (%) PAT (₹ mn) +31 bps +29 bps +14% 5.20% 7.93% 6,556 7.64% 5,743 4.89% Mar-25 Mar-26 FY25 FY26 FY25 FY26 7 Aav
Slide 8: Pillars of Strength
Pillars of Strength Strengthening through Diverse Geographical Distribution In-house Execution Model Diversified Customer Base Institutionalization Professional Management IT Transformation Experienced Board of Directors Diversified Shareholding Base Team 8 Aavas | Investor Presentation Q4 & FY26
Slide 9: Aavas 3.0: Building a Lasting Institution
Aavas 3.0: Building a Lasting Institution Aavas 1.0 Aavas 2.0 Aavas 3.0 550.0 2012 2016 2023 Change in Promoter AUM (INR Bn) Investment (2016) by: IPO (October 2018) 204.2 234.5 173.1 113.5 141.7 78.0 94.5 40.7 59.4 0.0 1.8 4.1 8.4 16.8 26.9 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY2
Slide 10: Scaled & Resilient Organization Built On Strong Pillars
Scaled & Resilient Organization Built On Strong Pillars People, Processes & Technology Built For Scale Risk Financial Human Capital Technology Capital In-house seasoned Risk and Strong Equity Capital Base & Organization Structure Built For Technology like Bank and Agility of Collections Team support
Slide 11: Diverse Geographical Distribution
Diverse Geographical Distribution Data as on 31st Mar 2026 Geographical diversification journey Branch Vintage (No of Branches) Himachal Pradesh 80% 76% 43 Chandigarh 31 <1 yr Punjab 4 74% 53 1 71% 54 1-3 yrs 4 9 Uttarakhand 69% 94 Haryana 67% 104 3-6 yrs 20 Delhi 65% 64% 5 153 6-9 yrs Rajasthan Utt
Slide 12: Right to Win with In-house Model
Right to Win with In-house Model In-house CSC & E-Mitra: Common service centers Focused on Direct: In-house across India Open market, cold calling, Sourcing canopy activity, etc. Building Four-tiered Institutional collection Partnership Mitra: architecture for Lead People in allied1 generation indus
Slide 13: Major Technology Transformation Completed
Major Technology Transformation Completed 1 2 3 Guiding Be like a Bank Enable Sustainable Growth with Create a Superior Customer Principles by Technology Capabilities Significant Operating Leverage Experience Origination Loan Management System ERP / GL System CRM ✓Consolidation of processes into a s
Slide 14: Technology Transformation & AI Adoption Outcomes
Technology Transformation & AI Adoption Outcomes Login to Sanction TAT (days) Digital Led Business (Rs. In Mn) 13 ~52% ~5,400 10 11 9 7 6 ~800 FY21 FY22 FY23 FY24 FY25 FY26 FY25 FY26 Unique Customer login in App Gen AI Bot Conversation ~1,07,000 1,26,000+ 1,03,000+ ~35,000 FY25 FY26 FY25 FY26 Levera
Slide 15: Strong Management depth continues to drive performance
Strong Management depth continues to drive performance Manu Singh Ghanshyam Rawat Ashutosh Atre Ripudaman Bandral MD* & Chief Executive President & Chief President & Chief Risk Chief Business Officer Officer Financial Officer Officer • 25+ years of experience in financial services • 30+ years of exp
Slide 16: New Board bringing in a wealth of experience
New Board bringing in a wealth of experience Kalpana Kaushik Sandeep Tandon Soumya Rajan Mazumdar Chairperson of Board, Independent Director & Independent Director & Independent Director & Chairperson of Nomination Chairperson of Stakeholders Chairperson of Audit & Remuneration Committee Committee R
Slide 17: Diversified Institutional Shareholding Base
Diversified Institutional Shareholding Base Shareholding Pattern as on Top Institutional Shareholders as on 31st Mar 2026 31st Mar 2026 Investor Details % Holding CVC Capital 48.94 ICICI Pru Asset Management^* 3.89 Others, 11.08% HDFC Asset Management^* 3.40 UTI Asset Management^* 2.98 FII, Axis Max
Slide 18: Business Performance
Business Performance Healthy Business Growth Business Mix Spreads, Margins and Yields Cost Efficiency and Return Ratios Key Financial Ratios Asset Quality Liability Franchise ALM and Liquidity Position 18 Aavas | Investor Presentation Q4 & FY26
Slide 19: Healthy Business Growth
Healthy Business Growth Assets under Management (AUM) (₹ mn) 2,34,517 2,34,517 2,04,202 2,13,566 2,22,035 1,73,126 2,04,202 2,07,397 1,41,667 1,13,502 94,543 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 (YoY %) 21% 20% 25% 22% 18% 15 % 18% 16% 16% 15% 15 % Disbursemen
Slide 20: Business Wise Mix
Business Wise Mix Average ticket size AUM (Segment wise) AUM (Occupation wise) ₹ 0.74 mn 13% 13% ₹ 0.79 mn ₹ 0.98 mn ₹ 1.01 mn 40% 39% ₹ 0.84 mn 19% 22% ₹ 0.94 mn ₹ 1.07 mn 68% 65% ₹ 1.11 mn ₹ 0.96 mn 60% 61% ₹ 1.03 mn Mar-25 Mar-26 Mar-25 Mar-26 HL MSME LAP Self employed Salaried Disbursement (Segm
Slide 21: Well Diversified Portfolio Mix
Well Diversified Portfolio Mix AUM by Geography AUM by Ticket size (No of Loans) Karnataka, 4% Others, 4% 1% Haryana, 5% 5% Rajasthan, 33% Upto ₹ 1.5 Mn Uttar Pradesh, 6% 11% Delhi, 5% ₹ 1.5 to ₹ 2.5 Mn ATS: ₹1.02mn ₹ 2.5 to ₹ 5.0 Mn Madhya Pradesh, 12% 83% Above ₹ 5.0 Mn Maharashtra, Gujarat, 12% 1
Slide 22: Spreads, Margins and Yields
Spreads, Margins and Yields Yield and Cost of Borrowings (%) 14.5% 13.16% 13.12% 13.13% 13.13% 9.5% 12.66% 12.82% 14.0% 13.13% 13.13% 13.08% 13.02% 12.82%* 13.5% 9.0% 13.0% 8.5% 12.5% 8.24% 12.0% 8.0% 8.24% 8.02% 8.07% 7.85% 11.5% 7.40% 7.61% 7.62% 7.68% 7.5% 6.88% 11.0% 7.62% 10.5% 7.0% FY21 FY22 F
Slide 23: Cost Efficiency & Return Ratio
Cost Efficiency & Return Ratio Opex to Asset and Cost to Income (%) 45.2% 45.7% 46.3% 45.9% 4.5% 41.9% 44.5% 43.4% 44.7% 50.0% 4.5% 39.1% 45.0% 43.7% 42.9% 46.0% 4.0% 40.0% 4.0% 3.88% 3.69% 3.71% 42.0% 3.58% 35.0% 3.45% 3.54% 30.0% 3.46% 3.51% 3.44% 3.5% 3.32% 25.0% 3.5% 38.0% 3.01% 20.0% 15.0% 3.0%
Slide 24: Key Financial Ratios
Key Financial Ratios Profit after tax (PAT) Net Worth Without raising Capital (₹ mn) (₹ mn) 7,00 0 6,556 50,508 6,50 0 5,743 6,00 0 43,608 5,50 0 4,908 37,733 4,283 5,00 0 32,697 3,575 4,50 0 4,00 0 28,086 2,903 24,014 2,491 3,50 0 3,00 0 2,50 0 20,979 2,00 0 1,50 0 1,00 0 FY20 FY21 FY22 FY23 FY24 F
Slide 25: Pristine Asset Quality
Pristine Asset Quality Gross Stage 3 (%) Net Stage 3 (%) 1.22% 1.24% 1.19% 0.84% 0.85% 0.79% 1.08% 0.77% 0.73% 1.05% 1.08% 0.68% 1.05% 0.73% 0.98% 0.99% 0.71% 0.92% 0.94% 0.68% 0.67% 0.68% FY21 FY22 FY23 FY24 FY25 FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY21 FY22 FY23 FY24 FY25 FY26 Q4FY25 Q1FY26 Q2
Slide 26: Robust Liability Management
Robust Liability Management AUM – Fixed/ Floating Mix (%) 120 % 204.2 207.4 213.6 222.0 234.5 120 % 100 % (₹ bn) 94.5 113.5 141.7 173.1 204.2 234.5 90% 100 % 100 % 80% 80% 70% 80% 60% 56% 60% 66% 60% 70% 70% 70% 70% 71% 60% 70% 71% 50% 60% 40% 40% 40% 30% 40% 44% 40% 20% 34% 30% 30% 30% 30% 20% 30%
Slide 27: Diversified Funding Profile & Credit Rating
Diversified Funding Profile & Credit Rating Borrowings Mix (%) (₹ bn) Term Loans Direct Assignment NHB refinance NCDs CP & CC 120% 186.9 193.0 204.3 120% 102.6 125.2 155.6 179.5 204.3 179.5 182.9 20 0.0 1% 10% 1% 1% 0.0 9% 9% 100% 12% 9% 9% 9% 11% 10% 100% 10 0.0 18% 11% 20% 14% 11% 14% 14% 14% 12%
Slide 28: Disciplined ALM & Comfortable Liquidity Position
Disciplined ALM & Comfortable Liquidity Position Surplus Management ALM Position As on Mar – 26 (₹ bn) Surplus: 13.62 18.93 18.64 23.14 21.55 37.08 52.25 211.86 Assets 190.64 Liabilities 155.66 153.56 159.61 134.11 108.93 85.79 51.38 35.94 32.74 23.19 17.01 9.57 <3 months <6 months <1 year <3 years
Slide 29: Financial Statements
Financial Statements Profit and Loss Statement Balance Sheet ECL Provisioning PAT Reconciliation Net Worth Reconciliation 5 Year Financials & ROE Tree ESG 29 Aavas | Investor Presentation Q4 & FY26
Slide 30: Profit & Loss Statement
Profit & Loss Statement Particulars (₹ mn ) Q4 FY26 Q4 FY25 Y-o-Y Q3 FY26 Q-o-Q FY26 FY25 Y-o-Y Interest Income on Loans (incl. Processing Fee) 6,120.6 5,419.1 12.9% 5,917.4 3.4% 23,409.4 20,410.3 14.7% Interest Income on Fixed Deposits 283.1 358.4 285.8 1,201.0 1,376.9 Upfronting Income on Fresh As
Slide 31: Balance Sheet
Balance Sheet Particulars (₹ Mn ) 31-Mar-26 31-Mar-25 Sources of Funds Share Capital 792.8 791.5 Reserves & Surplus 49,715.6 42,816.8 Borrowings 1,56,855.7 1,39,184.8 Deferred Tax Liability (Net) 1,003.9 755.7 Other Liabilities & Provisions 3,757.0 2,635.9 Total 2,12,125.0 1,86,184.7 Application of
Slide 32: ECL Provisions
ECL Provisions Particulars (₹ mn ) Stage 1 Stage 2 Stage 3* Total For the period ended Mar’26 Gross Loan Principal Outstanding 1,80,717 2,369 1,938 1,85,023 % of Portfolio 97.67% 1.28% 1.05% 100% ECL Provision Amt. 364 235 697 1,296 ECL Provision % 0.20% 9.94% 35.95% 0.70% For the period ended Dec’2
Slide 33: PAT Reconciliation
PAT Reconciliation Particulars (₹ mn ) Q4 FY26 Q4 FY25 Y-o-Y Q3 FY26 Q-o-Q FY26 FY25 Y-o-Y Net Profit as per IGAAP 1,573.1 1,424.1 10.5% 1,511.7 4.1% 5,927.8 5,291.0 12.0% Add / (Less) : Adjustments as per IndAS on account of: Adoption of effective interest rate (EIR) for amortisation of Income and
Slide 34: Net Worth Reconciliation
Net Worth Reconciliation Particulars (₹ mn ) 31-Mar-26 31-Mar-25 Net Worth as per previous GAAP 45,950.0 39,927.1 Adjustments increasing/(decreasing) net worth as reported under previous GAAP: Adoption of EIR for amortisation of Income and expenses - financial assets at (136.5) (230.7) amortised cos
Slide 35: Historical Financial Snapshot
Historical Financial Snapshot CAGR Particulars (₹ bn) FY21 FY22 FY23 FY24 FY25 FY26 (5 Years) AUM 94.5 113.5 141.7 173.1 204.2 234.5 20% Disbursement 26.6 36.0 50.2 55.8 61.2 67.8 21% Total Assets 89.6 110.2 134.1 165.2 186.2 212.1 19% Borrowings 63.5 79.7 98.4 123.4 139.2 156.9 20% Net Worth 24.0 2
Slide 36: ROE Tree - Trend
ROE Tree - Trend Particulars FY21 FY22 FY23 FY24 FY25 FY26 Interest Income 12.57% 12.10% 12.27% 12.51% 12.40% 12.36% Less: Interest Expense (incl. Finance Charges) (5.59%) (4.84%) (4.90%) (5.59%) (5.78%) (5.55%) Net Interest Income (NII) 6.98% 7.27% 7.38% 6.92% 6.62% 6.81% Add: Fees and Other income
Slide 37: Environmental, Social & Governance
Environmental, Social & Governance Extra Mile of Corporate Governance Robust Corporate Governance The Board of Directors helps improve corporate credibility and governance 3 women Directors of the Board. standards and manage risk and independent oversight in the Company. The company has also impleme
Slide 38: Annexure - Glossary
Annexure - Glossary Ratios Formula Used Ratios Formula Used NIM (%) Net Total Income / Average Total Assets A/E (x) Average Total Asset / Average Equity Opex to Asset (%) Operating cost / Average Total Assets ROCI (%) PAT / Capital Invested Cost to Income (%) (C/I) Operating cost / Net Total Income
Slide 39: Thank You
Thank You Microsoft Excel SVG Vector icon PNG Free Download | UXWing Click here for Factsheet Aavas Financiers Limited CIN: L65922RJ2011PLC034297 Mr. Rakesh Shinde – Head of Investor Relations rakesh.shinde@aavas.in / investorrelations@aavas.in Visit us -