Spandana Sphoorty Financial Limited · NSE:SPANDANA
Spandana Sphoorty Financial — Q4 FY26 Earnings Presentation
26 slides from Spandana Sphoorty Financial's earnings presentation, May 5, 2026
Slide 1: Stock exchange cover letter
Ref: SSFL/Stock Exchange/2026-27/017 May 5, 2026 To To BSE Limited, National Stock Exchange of India Limited, Department of Corporate Services Listing Department P. J. Towers, 25th Floor, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scr
Slide 2: Q4 FY26 & FY26 Investor Presentation
Invested in Bharat! Spandana Sphoorty Financial Limited Aipan Art Q4 FY26 & FY26 Investor Presentation
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Spandana Sphoorty Financial Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe f
Slide 4: Executive Summary
Pivoting to growth with restored profitability and improving asset quality metrices +12% QoQ growth in AUM to ₹4,420 Cr Portfolio growth resumed Disbursements pick up pace - ₹1,539 Cr disbursed in Q4FY26; +30% QoQ growth after 7 quarters Portfolio originated in FY26 contribute 80% of microfinance AU
Slide 5: Clearly identified growth and profitability enablers for FY27
Clearly identified growth and profitability enablers for FY27 Disbursement Technology • New Customer acquisition • New LOS • Wider product offering • Customer delight • Optimized ticket sizes • Strengthening of Controls Costs optimization Recoveries • Improving productivity • Dedicated recovery asso
Slide 6: Lead parameters continue upward trajectory
Lead parameters continue upward trajectory Pick up in pace of disbursement (₹ Cr) Upward trend in 90+ dpd Recovery (₹ Cr) 65 67 + 30% 1,539 + 27% 1,188 48 + 233% 934 920 41 844 749 280 619 225 55 185 344 Q1FY26 Q2FY26 Q3FY26 Q4FY26 New Customers Existing Customers Q1FY26 Q2FY26 Q3FY26 Q4FY26 Consist
Slide 7: Loans originated under new credit rules are 80% of MFI AUM
1. Loans originated under new credit rules represents is 80% of MFI AUM New portfolio contributes 80% of AUM* 99.7% of New portfolio* is current 0.2% 0.2% 0.2% 0.3% 0.3% 0.3% 20% 99.8% 99.8% 99.8% 99.7% 99.7% 99.7% 80% Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 New portfolio Old portfolio Current Del
Slide 8: X-bucket collection efficiency continues to show improving trend
2. X-bucket collection efficiency continue to show improving trend X-bucket collection efficiency (%) & forward flows X-bucket Collection Efficiency (%) of key States 99.5% 99.7% 2025 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 100.0% 99.2% 99.3% 99.3% 5.0% 98.7% Andhra Pradesh 97.7% 99.1% 98.8% 98.9%
Slide 9: Recovery focused strategy delivering measurable outcomes
3. Recovery focused strategy delivering measurable outcomes ~₹274 Cr recovered in 15 months. Momentum expected to continue Initiatives to improve collections Tapping legal avenues (From Sep’25) Continuing to engage borrowers Digital Collection – ~14% of FY26 collections Demand Notices Legal Notices
Slide 10: Comfortable liquidity & healthy balance sheet to fuel future growth
4. Comfortable liquidity & healthy balance sheet to fuel future growth CRAR* (%) 4,000 Net-worth (₹ Cr) Net-worth (₹ Cr) & & Gearing Gearing(x) (x) 3.3 3,500 47.0% 3,000 2,633 2.8 40.8% 40.3% 2,500 2,289 2,227 2,121 2,130 37.1% 35.9% 2,623 2.3 2,000 2,309 2,279 2,185 2,194 36.3% 36.9% 36.5% 1,500 2.
Slide 11: Diversified borrowing mix with 44% outstanding loans from banks
4. Diversified borrowing mix with 44% outstanding loans from banks Incremental borrowing (₹ Cr) Cost of borrowing (%) YoY QoQ YoY 169% -24% 30% 13.2% 12.1% 12.3% 12.2% 12.6% 13.2% 11.9% 12.1% 12.0% 4,482 Q4 Q1 Q2 Q3 Q4 FY25 FY26 FY26 FY26 FY26 Cost of Borrowing Marginal Cost of Borrowing 3,116 1,684
Slide 12: Key ongoing initiatives to drive operational efficiency, recovery and growth
5. Key ongoing initiatives to drive operational efficiency, recovery and growth Operating Cost (₹ Cr) 347 branches merged or closed during FY26 250 209 195 189 Branch Impact visible in change of manpower over 4 quarters 200 161 Rationalisation 150 100 50 Manpower aligned with branch consolidat
Slide 13: FY26 & Q4FY26 Results
FY26 & Q4FY26 Results 12
Slide 14: Resumed AUM growth in Q4FY26; PBT of ₹8 Cr
Resumed AUM growth in Q4FY26; PBT of ₹8 Cr Particulars Q4 FY26 Q3 FY26 QoQ (%) Q4 FY25 YoY (%) FY26 FY25 YoY (%) Disbursement (₹ Cr) 1,539 1,188 +30% 365 +322% 3,940 5,605 (30)% AUM (₹ Cr) 4,420 3,948 +12% 6,819 (35)% 4,420 6,819 (35)% Income (₹ Cr) 277 246 +13% 419 (34)% 1066 2,424 (56)% Net Intere
Slide 15: Active customer base at ~12L
Active customer base at ~12L Optimal physical infrastructure to drive future growth No. of Customers (in L) Branch count 1,804 1,720 1,703 1,667 183 179 176 1,457 166 459 433 428 160 24.9 421 349 20.4 15.5 12.9 1,162 1,108 1,099 1,080 11.5 948 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Mar-25 Jun-25 Sep-25
Slide 16: ₹1,539 Cr disbursed in Q4FY26 - up 30% QoQ
₹1,539 Cr disbursed in Q4FY26 - up 30% QoQ AUM (₹ Cr) Disbursement (₹ Cr) 6,819 QoQ YoY QoQ YoY 12% 322% 30% -30% 5,605 4,958 4,420 4,088 3,948 1,539 3,940 1,188 365 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 AUM concentration of top 5 states at 59% Collection Efficiency (%) 1
Slide 17: PCR maintained at ~80%
PCR maintained at ~80% Consolidated Standalone Asset Classification Loans ECL Loans ECL % of Loans % of Loans Outstanding Provision Coverage Outstanding Provision Coverage Outstanding Outstanding (₹ Cr) (₹ Cr) (₹ Cr) (₹ Cr) Stage 1 (Current) 3,860 94.9% 18 0.5% 3,337 95.7% 14 0.4% Stage 1 (1 – 30) 1
Slide 18: Yield continues upward trajectory as portfolio quality strengthens
Yield continues upward trajectory as portfolio quality strengthens Key Ratios Q4 FY26 Q3 FY26 QoQ (%) Q4 FY25 YoY (%) FY26 FY25 YoY (%) Yield (%) 22.8 22.4 +43 bps 20.7 +208 bps 20.5 22.5 (198) bps Cost of borrowing (%) 13.2 12.6 +55 bps 12.1 +106 bps 12.6 12.0 +60 bps NIM (%) 9.9 11.1 (119) bps 10.
Slide 19: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ Cr) Q4 FY26 Q3 FY26 QoQ Q4 FY25 YoY FY26 FY25 YoY Revenue from Operations Interest income on loans 223 216 3% 383 (42)% 916 2,160 (58)% Net gain on fair value changes 28 9 206% 24 16% 59 161 (64)% Other Income 9 9 (3)% 8 11% 49 34 43% Total income from op
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (₹ Cr) Mar 31, 2026 Mar 31, 2025 LIABILITIES & EQUITY (₹ Cr) Mar 31, 2026 Mar 31, 2025 Financial Liabilities Financial Assets Debt Securities 2,175 2,264 Cash and bank balances 1,275 1,844 Borrowings (Other than Debt Securities) 1,767 3,391 Loan Portfolio 3,860 5,70
Slide 21: Credit Rating
Credit Rating Spandana Sphoorty Financial Ltd Rating / Outlook Rating Agency Rating Instrument (Current) CRISIL Bank Facilities BBB+ / Stable Bank Facilities / NCD’s BBB+ / Stable CARE CP’s A2 ICRA Bank Facilities / NCD’s BBB+ / Negative India Ratings Bank Facilities / NCD’s BBB+ / Negative Criss Fi
Slide 22: Annexure
Annexure 21
Slide 23: Positive ALM across maturity buckets
Positive ALM across maturity buckets Positive ALM (₹ Cr)* Maturity profile* (in months) 2,194 10.1 2,099 1,172 9.2 1,127 9.1 1,028 820 846 8.8 627 644 404 347 338 374 245 76 13 upto 1m 1m to 2m 2m to 3m 3m to 6m 6m to 12m 1Y to 3Y 3Y to 5Y Over 5Y Mar-26 Dec-25 Assets Liabilites Avg. residual maturi
Slide 24: Well diversified presence
Well diversified presence AUM concentration* - ~52% from top 4 States District level concentration* Largest 2.3% % of AUM State Mar-26 Mar-25 Mar-24 Top 5 9.4% Madhya Pradesh 15% 13% 13% Top 10 15.5% Bihar 14% 12% 12% Odisha 12% 13% 14% Top 20 24.7% Andhra Pradesh 11% 11% 10% 4% 6% Others 75.3% 14%
Slide 25: Glossary
Glossary Key Ratio Abbreviation Definition 1 Portfolio Yield Yield Interest income divided by average monthly loan outstanding 2 Cost of borrowing COB Interest expenses divided by average monthly borrowing outstanding 3 Marginal COB (XIRR) Multiplication of borrowing availed during the period and co
Slide 26: Thank you!
Thank you! Investor Relations Strategic Growth Advisors Pvt. Ltd Abhishek Shah Spandana Sphoorty Financial Limited +91 99306 51660
Spandana Sphoorty Financial — Q4 FY26 Earnings Presentation on 6ix