Fusion Finance Ltd · NSE:FUSION
Fusion Finance — Q1 FY27 Earnings Presentation
47 slides from Fusion Finance's earnings presentation, Aug 10, 2026
Slide 1: Stock exchange cover letter
Date: 10.08.2026 Letter No. FFL/SEC/2026-27/SE-57 To, To, The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C/1, G Block, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai - 400 001 Mum
Slide 2: Investor Presentation Q1 FY27
Investor Presentation Q1 FY27 1 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 3: Disclaimer
Disclaimer By attending the meeting where this Presentation is made, or by reading the Presentation materials, you agree to be bound by the limitations contained herein and to maintain absolute confidentiality regarding the information disclosed in this Presentation. Any failure to comply with these
Slide 4: Presentation Path
PRESENTATION PATH 01 02 03 Executive Overview Our Presence Summary 04 Business 05 Key 06 Financial Overview Strengths Performance 3 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 5: Executive Summary
Executive Summary 4 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 6: Executive Summary – Q1 FY27
Executive Summary – Q1 FY27 Sustained Profitability Strong Asset Quality Strong Capital & Liquidity Prudent Disbursement Strategy Rs 62 Cr Profit Before Tax Rs 40 Cr Credit cost 36.95% CRAR Rs 1,783 Cr Disbursements Profit momentum continued ~29% decline in credit cost ~49 bps QoQ growth from ~ 88%
Slide 7: Key Growth Drivers
Key Growth Drivers Focused initiatives to accelerate profitable growth and strengthen our franchise Technology Enablement Geographical Expansion Strengthened Risk Product Expansion Framework o Deploying next generation LOS o Entering new markets while o Leading industry-wide o Received approval unde
Slide 8: Fusion Finance – Q1 FY27 Snapshot
Fusion Finance – Q1 FY27 Snapshot ₹7,702 Cr ₹1,783 Cr ₹458 Cr 11.9% ₹102 Cr ~4% QoQ ~88% YoY ~7% QoQ ~49 Bps QoQ ~10% QoQ AUM Disbursement Total Income NIM PPOP ₹40 Cr ₹62 Cr 3.0% 10.0% 2.51% ~29% QoQ 67% QoQ ~108 Bps* QoQ ~378 Bps* QoQ ~70 Bps QoQ Credit Cost PBT ROA ROE GNPA 36.95% 2,521 Cr 2.3 1,
Slide 9: FY26: A Year of Stabilization; FY27 Onwards: Building a Foundation for Sustainable Growth
FY26: A Year of Stabilization FY27 Onwards: Building a Foundation for Sustainable Growth Build Scale. Foundation for Sustainable MSME FY26 Year of Stabilization Drive Impact. FY27 Growth Portfolio Recalibration Strong Capitalization Tightened underwriting and strengthened credit Robust Capital Base
Slide 10: Fusion Finance Overview
Fusion Finance Overview Building an inclusive financial institution driven by purpose, customer trust, and sustainable growth About Fusion Finance Our Business Verticals Established in 2010 as a registered NBFC-MFI Microfinance MSME Loans Providing financial services to underserved women in rural an
Slide 11: Diversified Geographical Presence
Diversified Geographical Presence 20 Lakh+ 3 Union Territories | 1,512 ~68% Active Customers 22 States | 489 Districts Total No. of Branches Top 5 states concentration Our footprint across India State wise branches AUM/Branch (In Rs. Cr) 4.9 5.1 4.8 4.6 4.5 2 7 41 42 21 5 298 42 Q1FY26 Q2FY26 Q3FY26
Slide 12: MFI Business
MFI Business 11 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 13: Book composition || Borrower deleveraging
Book composition || Borrower deleveraging Timelines Fusion only Fusion+1 Fusion+2 Fusion+ ≥ 3 Jun’26 37.7% 33.9% 21.6% 6.8%(4.37% on POS) Mar’26 37.1% 32.8% 22.4% 7.7% (4.98% on POS) Mar’25 35.5% 26.8% 19.6% 18.1% Mar’24 30.9% 19.7% 17.8% 31.5% Fusion Customers* Fusion Customers having MFI Exposure*
Slide 14: Shifting share of disbursement towards less leveraged customers
Shifting share of disbursement towards less leveraged customers Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 (Avg.) (Avg.) (Avg.) (Avg.) (Avg.) (Avg.) Fusion + 0 42% 43% 41% 44% 46% 51% Fusion + 1 32% 35% 34% 35% 34% 34% Fusion + 2 21% 22% 24% 22% 20% 15% Fusion only onboards customers Fusion + 3
Slide 15: Customer segmentation & Cycle wise ATS
Customer segmentation & Cycle wise ATS Period → FY24 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Customers ↓ New 46% 26% 24% 25% 24% 27% 27% Existing 54% 74% 76% 75% 76% 73% 73% Calculations on Disbursement values Cycle No FY24 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 1 41,299 42,772 40,715 41,
Slide 16: Disbursement || Cycle wise and Lenders association
Disbursement || Cycle wise and Lenders association Q1 FY27 Q4 FY26 Cycle No Fusion Only Fusion+1 Fusion+2 Fusion+>=3 Overall Cycle No Fusion Only Fusion+1 Fusion+2 Fusion+>=3 Overall 1 24% 10% 1% 0% 36% 1 21% 11% 5% 0% 37% 2 14% 12% 6% 0% 32% 2 14% 11% 7% 0% 32% 3+ 12% 12% 7% 0% 32% 3+ 11% 12% 8% 0%
Slide 17: Disbursement trend || Quarterly Avg || State wise
Disbursement trend || Quarterly Avg || State wise All figures in ₹ Cr. Proportion % State Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 QoQ % YoY % (Q1 FY27) Uttar Pradesh 72 108 129 169 151 -11% 110% 27% Bihar 59 73 97 134 109 -19% 85% 19% Odisha 23 35 46 60 46 -23% 100% 8% Madhya Pradesh 28 31 38 52 48
Slide 18: Sustained improvement in current collections
Sustained improvement in current collections % Net flow Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Current to PAR 1.80% 0.57% 0.54% 0.60% 0.25% 0.03% 0.08% Top 5 State Current Dec’24 Mar’25 Jun’25 Sep’25 Dec’25 Mar’26 Jun’26 CE% on POS (EOM) Uttar Pradesh 97.99% 98.93% 98.96% 98.93% 99.
Slide 19: Collections
COLLECTIONS Avg. Monthly Flow Rates and QoQ bucket movement 71.8% 74.6% 73.8% 63.5% 60.7% 65.6% 66.4% 65.9% 43.8% 53.6% 51.7% 39.4% 37.4% 28.3% 30.6% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 PAR 0 - > PAR 30 PAR 30 - > PAR 60 PAR 60 - > PAR 90 average monthly flow rates 18 August 10, 2026 | © Fusion
Slide 20: MSME Business
MSME Business 19 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 21: MSME Business
MSME Business Empowering India’s Entrepreneurs, Driving Sustainable Growth Product Offerings Key Metrics Who we lend to Serving underserved rural & semi-urban entrepreneurs across India SECURED BUSINESS LOAN OPERATIONAL METRICS FINANCIAL METRICS Retail Shop Traders • Lending for established business
Slide 22: Performance Highlights & Credit Cost
Performance Highlights & Credit Cost 21 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 23: Performance Highlights
Performance Highlights All figures in ₹ Cr. Key Metrics Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY AUM 7,702 7,407 4% 7,688 0.2% Disbursement 1,783 2,140 (17%) 950 88% NII 236 222 6% 268 (12%) NIM (%) 11.93% 11.44% 49 Bps 10.29% 164 Bps Total Income 458 430 7% 445 3% OPEX 206 205 1% 210 (2%) PPOP 102 93 10% 87
Slide 24: Credit Cost
Credit Cost All figures in ₹ Cr. Particulars Q1 FY27 Q4 FY26 Q1 FY26 FY 26 Opening ECL [A] 270 353 887 887 - Provisions as per ECL[B] 38 53 178 421 Reversals (on account of write-off) [C] 75 136 486 1,038 Closing ECL [D = A+B-C] 233 270 579 270 Impairment [E]* 38 53 178 421 Credit Cost (Provisions)
Slide 25: Tech Capabilities & ESG
Tech Capabilities & ESG 24 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 26: Building AI-Enabled Microfinance Leader
Building AI-Enabled Microfinance Leader AI is transforming Fusion Finance from excellence in execution to a technology-driven, customer-centric leader. AI Across Value Chain Key Strategic Highlights Current Scale Long Term Roadmap Customer Onboarding Superior Customer 6 Mn+ FY27 FY30 AI enabled onbo
Slide 27: Tech Interventions
Tech Interventions || Strengthening compliance, reducing fraud, and enabling seamless digital onboarding Aadhaar-Based Face AI/ML-Driven Credit Omni-Channel Paperless Digital Signing Geo-Fencing & Location Operations Real-Time Voter ID Authentication Collections Enablement ✓ OTP based secure virtual
Slide 28: ESG: Aspiring to become a responsible Financial Institution
ESG : Aspiring to become a responsible Financial Institution Environmental Social Governance Reducing Environmental Impact Empowering Community & Employees through various Responsible business practices through transparency, Initiatives integrity & accountability • Continued adherence to the IFC Exc
Slide 29: CSR Footprint: Driving Impact Across Communities
CSR Footprint : Driving Impact Across Communities 6 2 1,590+ 68+ 85+ SDG’s Covered Lives Touched Govt. / Key Employees CSR Programs officials Volunteering 2 3 6 12 16 Aspirational Partnership Branding & States Districts with NGO’s Visibility Districts Glimpses of our CSR Programs Program : Health Ca
Slide 30: Risk Governance & Internal Audit Structure
Risk Governance & Internal Audit Structure Risk Governance Framework Internal Audit Structure Board of Directors MD & CEO Board of Directors Board Risk Management Committee Board Audit Committee Management Risk Committee Chief Internal Auditor Line Management Risk Management Dept. Internal Audit (fi
Slide 31: Key Strengths & Liability Management
Key Strengths & Liability Management 30 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 32: Key Strengths || Agility across business cycles
Key Strengths || Agility across business cycles All figures in ₹ Cr. AUM Disbursement 7,688 7,702 2,140 7,407 1,783 1,594 1,298 7,038 950 QoQ 6,876 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 AUM Disbursement 11,476 10,294 8,596 9,296 8,980 7,702 6,971 7,407 5,983
Slide 33: Key Strengths || Agility across business cycles
Key Strengths || Agility across business cycles For MFI Vertical only AUM/ RO (₹ in Cr) AUM/Branch (₹ in Cr) Borrower/ Branch 4.9 1.1 4.8 1.0 0.8 0.8 0.9 4.6 1,932 1,759 1,602 1,487 1,406 4.4 QoQ 4.3 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 F
Slide 34: Key Strengths || Operational Prudence
Key Strengths || Operational Prudence For MFI Vertical only Avg. Ticket Size (₹ in K) Borrowers (in Lacs) Avg. OS / Borrower (₹ in K) 60.8 61.1 28.3 59.6 25.6 34.6 23.2 30.9 21.5 20.0 24.8 24.8 26.5 54.2 QoQ 53.3 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26
Slide 35: Key Strengths || Liability Management
Key Strengths || Liability Management Average & Marginal Cost of Borrowing* Average & Marginal Cost of Borrowing* 11.2% 12.6% 12.2% 11.2% 10.6% 10.6% 10.3% 10.4% 10.3% 10.3% 10.3% 10.1% 10.4% 10.4% 10.3%10.2% 10.3% 10.3% 10.0% 10.1% 9.9% 9.6% YoY QoQ FY22 FY23 FY24 FY25 FY26 Q1 FY27 Q1 FY26 Q2 FY26
Slide 36: Key Strengths || Liability Management
Key Strengths || Liability Management All figures in ₹ Cr. Positive ALM (Months) Stable Liquidity Position 24.2 24.9 24.1 OCT26 - 22.2 23.1 Particulars (₹ Cr) Jul26(P) Aug 26(P) Sep26(P) 20.4 Dec26(P) 19.2 17.6 17.5 17.5 17.9 Opening Cash & Equivalents (A) 1,880* 1,844 1,732 1,600 14.5 Loan Recovery
Slide 37: Financial Performance
Financial Performance 36 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 38: Profit and Loss Statement
Profit and Loss Statement All figures in ₹ Cr. Profit & Loss Statement Q1 FY27 Q4 FY26 QoQ% Q1 FY26 YoY% FY26 - Interest Income on portfolio 386.08 354.44 9% 416.85 (7%) 1,513.13 - Finance Cost 149.84 132.1 13% 148.89 1% 538.72 Net Interest Income 236.24 222.34 6% 267.96 (12%) 974.41 - Treasury Inco
Slide 39: Balance Sheet
Balance Sheet All figures in ₹ Cr. Financial Position (₹ Cr) Q1 FY27 Q4 FY26 QoQ % Q1 FY26 YoY % Financial and Non-financial assets - Cash & Other Bank Balances 1,880.18 1,874.84 0% 561.78 235% - Bank balances other than cash and cash equivalents 113.22 130.6 (13%) 225.2 (50%) - Loans (Net of Impair
Slide 40: Key Ratios
Key Ratios Margin Analysis Cost to Income Opex to Avg. AUM 70.8% 11.9% 21.6% 21.7% 22.5% 70.2% 20.6% 21.2% 11.4% 11.5% 68.9% 68.8% 10.9% 10.9% 11.3% 11.4% 11.9% 10.3% 66.9% 10.1% QoQ 10.3% 10.3% 10.3% 10.3% 10.6% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26
Slide 41: Key ratios
Key ratios GNPA CRAR NNPA 5.43% 0.63% 38.80% 36.46% 36.95% 4.61% 4.38% 0.51% 31.31% 29.52% 0.47% 3.21% 0.38% 2.51% 0.19% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 40 August 10, 2026 | © Fusion Finance Limited | www.fusionf
Slide 42: Stakeholder Management
Stakeholder Management Category Top Share Holders 54.5% 54.0% HDFC TRUSTEE COMPANY LTD. A/C HDFC BALANCED ADVANTAGE Mutual Fund FUND Mutual Fund INDIA CAPITAL FUND LIMITED Mutual Fund NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA VALUE FUND Mutual Fund ICICI PRUDENTIAL BANKING AND FINANCIAL SERVICE
Slide 43: Highly Experienced Board with Strong Governance
Highly Experienced Board with Strong Governance Sanjay Garyali, MD and CEO Hemant Mundra, Non-Executive Director • 28+ years of expertise in retail financial markets and a deep • Hemant Mundra is a Managing Director at Warburg Pincus. Mr. understanding of the key drivers in the sector. Prior to join
Slide 44: The Management Team
The Management Team Krishan Gopal Sunil Mundra Jitender Sharma Sushil Menon CFO COO-MFI Deputy COO– CIO MSME Nishant Monga Anurag Srivastava Gautam Munjal Sanjay V Choudhary Chief Compliance CCO Head – Internal CRO Officer Audit Pooja Mehta Priyanka Seth CHRO Wadhera CSO 43 August 10, 2026 | © Fusio
Slide 45: Abbreviations
Abbreviations AUM Asset Under Management Cr Crore PAT Profit After Tax L Lac NIM Net Interest Margin Mn Million ECL Expected Credit Loss K Thousand CRAR Capital Risk Adequacy Ratio FY Financial Year GNPA Gross Non-Performing Assets Bps Basis points NNPA Net Non-Performing Assets H Half Yearly NII Ne
Slide 46: Definitions
Definitions • AUM represents the aggregate of principal outstanding for all loans including the assigned portfolio as of the last day of the relevant period/year • Net Interest Income represents interest income on loan portfolio for the relevant period/year reduced by finance costs for such period/y
Slide 47: Thank You
THANK YOU For Investor queries contact Prashant Kumar investor.relations@fusionfin.com Adfactors PR Hanishi Shah Hanishi.shah@adfactorspr.com 46 August 10, 2026 | © Fusion Finance Limited | www.fusionfin.com