Csl Finance Limited · NSE:CSLFINANCE
Csl Finance — Q2 FY2026 Earnings Presentation
41 slides from Csl Finance's earnings presentation, Nov 13, 2025
Slide 1: Exchange Filing Cover Letter
CIN: L74899DL1992PLC051462 November 13, 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 Symbo
Slide 2: Q2FY26 Investor Presentation, November 2025
Q2FY26 Investor Presentation November 2025
Slide 3: Quarterly Business Update
2 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 4: Business Growth YoY
3 Business Growth YoY Assets Under Disbursement Collection Management Efficiency ₹1,083 Cr 29% ₹1,397 Cr ₹294 Cr 0% ₹293 Cr 98% Consistent 98% Performance Q2’25 Q2’26 Q2’25 Q2’26 Q2’25 Q2’26 NII PAT AUM Mix (SME Retail: Wholesale) 5% Shift ₹37.0 Cr 10% ₹40.9 Cr ₹17.9 Cr 37% ₹24.5 Cr 39:61 in Favour
Slide 5: Loan Book Size
4 Loan Book Size Disbursements Collections Loan Book Collection Efficiency (₹ crore) (₹ crore) (₹ crore) (%) 0% -4% 10% 12% 29% 8% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 305 256 88 294 286 293 50 98 98 98 98 98 280 236 232 225 229 38 49 1,309 42 1,249 1,157 1,100 1,041 Q2F
Slide 6: Asset Quality
5 Asset Quality Gross NPA Net NPA Provision Coverage Ratio Write-offs & Recoveries (%) (%) (%) (₹ crore) -3 BPS -5 BPS 8 BPS -3 BPS YOY Change QOQ Change YOY Change QOQ Change 0.56 0.42 0.54 0.51 0.39 300 3.4 3.2 0.46 0.34 0.32 256 0.38 224 229 201 0.23 2.0 1.6 1.5 1.3 0.9 1.0 0.9 0.1 Q2FY25 Q3FY25
Slide 7: Asset Quality: Stage Analysis
6 Asset Quality: Stage Analysis Classification of Assets Basis the ECL Computation as Per Ind -AS: (₹ crore) PARTICULARS Q2FY25 Q1FY26 Q2FY26 Gross Stage 3 (GNPA) 5.64 7.03 6.58 % portfolio in Stage 3 0.54% 0.56% 0.51% ECL provision Stage 3 2.37 1.76 1.54 Net Stage 3 3.27 5.27 5.04 ECL Provision % S
Slide 8: P&L Highlights
7 P&L Highlights Net Interest Income Total Income Profit After Tax Yields (₹ crore) (₹ crore) (₹ crore) (%) 10% 2% 18% 7% 37% 15% YOY Change QOQ Change YOY Change QOQ Change YOY Change QOQ Change 18.7 18.7 18.2 18.1 18.1 40.3 40.9 63.8 37.4 59.6 37.0 56.7 24.5 35.3 54.3 53.7 16.9 16.7 16.5 16.5 16.5
Slide 9: Treasury Update
8 Treasury Update 1 The Company has good 3 Credit Rating for the liquidity of ₹111.5 crore as Company has been Leverage Liquidity on 30th September 2025, reaffirmed as A- | Stable (Ratio) (₹ crore) with undrawn credit from Acuite Ratings & facilities of another ₹35.0 Research as on August 7, crore 2
Slide 10: Quarterly Financial Snapshot
9 Quarterly Financial Snapshot (₹ crore) PARTICULARS Q2FY25 Q1FY26 Q2FY26 Disbursements 293.93 304.90 293.40 Revenue 54.31 59.59 63.83 Interest Income 49.10 55.97 59.21 PBT 24.72 27.57 28.85 PAT 17.85 21.32 24.46 Bad debts written off 3.39 1.50 1.30 Bad debts recovered 1.62 0.94 1.98 Loans and Advan
Slide 11: Operational Updates
10 Operational Updates Loan Book • While our AUM mix has shifted • Net NPA (%) stood at 0.39% in Q2FY26 Branch Footprint Expansion • AUM stood at ₹1,397 crore, up 29% YoY and 8% sequentially, while the towards Wholesale over the course of (vs. 0.42% in Q1FY26 and 0.32% in • We have added 2 new branc
Slide 12: Lending Partners
11 Lending Partners Banks & SFBs Newly Added NBFC Kotak Mahindra Investments Limited Newly Added
Slide 13: 5Y Financial Snapshot
12 5Y Financial Snapshot (₹ crore) PARTICULARS FY21 FY22 FY23 FY24 FY25 Disbursements 433.32 491.10 758.72 1,052.04 1,118.74 Revenue 61.67 74.62 117.54 166.58 216.04 Interest Income 59.18 67.66 108.54 153.72 199.11 PBT 39.36 44.98 61.47 85.60 96.88 PAT 27.53 33.68 45.52 63.36 72.09 Bad debts written
Slide 14: About CSL Finance
13 About CSL Finance Introduction CSL’s Business Model Key Differentiators of CSL Business Verticals & Products SME Retail Wholesale
Slide 15: Introduction
14 Introduction CSL Finance Limited is a Non-Banking Finance 34% 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 16: CSL's Business Model
15 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 17: Key Differentiators of CSL
16 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 18: Business Verticals & Products
17 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 19: SME Retail
18 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 20: SME Retail (1/3)
19 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 21: SME Retail (2/3)
20 SME Retail (2/3) Presence 15 28% Rajasthan 10 28% Gujarat 4 14% Punjab 7 13% Haryana 2 1% New Delhi 3 6% Uttarakhand 4 10% Uttar Pradesh 45 Total Branch Network Branch AUM DISTRIBUTION (in %) 27% Ageing 49% <1 year Clustered 24% 1-3 year Approach to expanding branch network, based on understandin
Slide 22: SME Retail (3/3)
21 SME Retail (3/3) SME Active Accounts Average Loan-to-value Average Ticket Size Average Tenure (#) (%) (₹ Lakh) (Year) 3,242 38 14 7 7 7 7 7 37 37 40 38 34 34 11 11 10 10 36 3,013 3,040 34 32 2,951 2,902 30 28 26 24 22 20 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25
Slide 23: Digital-First Operating Model
22 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 24: Digital On-Boarding & Processing
23 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 25: Proprietary Applications
24 Proprietary Applications Collections Mobile Application Sales & Credit Mobility Application
Slide 26: Digital Collections & Servicing
25 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 27: Data Analytics & Other Capabilities
26 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 28: Wholesale
27 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 29: Wholesale (1/2): Robust Risk Management Framework
28 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 30: Wholesale (2/2)
29 Wholesale (2/2) Active Accounts Average Loan-to-Value Average Ticket Size Average Tenure (#) (%) (₹ crore) (Year) 114 111 36 36 36 36 36 3 3 3 3 3 13 13 93 13 12 87 11 79 Q2FY25 Q3FY25 Q4FY25 Q1FY25 Q2FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25
Slide 31: Building for Leadership
30 Building for Leadership Building for Tomorrow Well Managed ALM Conservative Leverage Standards
Slide 32: Building a Robust Lending Franchise
31 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 33: Well Managed ALM
32 Well Managed ALM Cumulative Inflow - Outflow 16 4 9 23 370 447 0 (₹ Crore) 850 750 683 650 579 550 450 335 350 250 194 181 132 150 99 82 89 101 102 97 88 50 12 -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 34: Conservative Leverage Standards
33 Conservative Leverage Standards CONSERVATIVE LEVERAGE THRESHOLD 600 1.5-2X in Wholesale & <4X in SME Retail 90% Total Equity Leverage Ratio Capital Adequacy Ratio 80% 73% 542 500 79% 65% 66% 70% 64% 473 400 60% 50% 51% 47% 50% ₹54 362 Crore 320 300 Equity ₹48 40% Fund raise Crore in FY18 259 ₹30
Slide 35: Leadership
34 Leadership Board of Directors Management Team
Slide 36: Board of Directors
35 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 ince
Slide 37: Management Team
36 Management Team Work Experience Years at CSL Rohit Gupta Rachita Gupta Naresh Varshney Amit Kaul Chandan Kumar Atul Agrawal Ayussh Mittal Deepak Sood Managing Director Whole-time Director Chief Financial Chief Technology Head – President – President- Audit President – SME Officer Officer Strategy
Slide 38: Strategy
37 Strategy Strategic Priorities Key Takeaways
Slide 39: Strategic Priorities
38 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 40: Key Takeaways
39 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 41: 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