Creditaccess Grameen Ltd. · NSE:CREDITACC
Creditaccess Grameen — Q2 FY26 Earnings Presentation
44 slides from Creditaccess Grameen's earnings presentation, Oct 28, 2025
Slide 1: Exchange filing cover letter
Ref: CAGL/EQ/2025-26/111 October 28, 2025 To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Bandra (East), Mumbai - 400001 Mumbai - 400051 Scrip code: 541770 Symbol: CREDITACC Dear Sir/Madam, Sub.: Investo
Slide 2: Q2 & H1 FY26 Investor Presentation
CreditAccess Grameen Limited Q2 & H1 FY26 Investor Presentation October 2025 www.creditaccessgrameen.in
Slide 3: Disclaimer
Disclaimer By accessing this presentation, you agree to be bound by the following terms and conditions. This presentation (which may reflect some price-sensitive information in terms of SEBI regulations and Companies Act, 2013, as amended from time to time) has been prepared by CreditAccess Grameen
Slide 4: Discussion Summary
Discussion Summary ii Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 3 www.creditaccessgrameen.in
Slide 5: Q2 FY26: Key Business Highlights
Q2 FY26: Key Business Highlights Key Operational Metrics Q2 FY26 YoY% QoQ% Strong business momentum GLP (INR Cr) 25,904 3.1%/ 5.8%* -0.6%/ 2.0%* ✓ Robust disbursements despite seasonally weaker Q2 Borrowers (Lakh) 44.40 -10.0%/-6.7%* -2.7%/ 0.9%* ✓ 2.20 Lakh new borrowers added, 39% being new-to-cre
Slide 6: Discussion Summary
Discussion Summary ii Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 5 www.creditaccessgrameen.in
Slide 7: Gradual Stabilization In PAR Accretion Across All States
Gradual Stabilization In PAR Accretion Across All States State Wise – Monthly PAR 15+ Accretion/AUM Rate Increasing Share of Credit Cost Towards Balance Sheet Normalization Credit Cost - Breakup (INR Cr) Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 1.06% 0.91% 0.84% 0.76% 0.72% 0.95% Due to New PAR Accretion (A)
Slide 8: Sustained Reversal In PAR Accretion Rate (1/2)
Sustained Reversal In PAR Accretion Rate (1/2) Karnataka – Monthly PAR 15+ Accretion/AUM Rate Maharashtra – Monthly PAR 15+ Accretion/AUM Rate 1.90% 0.84% 1.48% 0.67% 1.17% 0.72% 0.43% 0.46% 0.67% 0.63% 0.41% 0.39% 0.58% 0.51% 0.37% 0.34% 0.34% 0.42% 0.27% 0.16% Jun-24 Sep-24 Dec-24 Mar-25 Apr-25 Ma
Slide 9: Sustained Reversal In PAR Accretion Rate (2/2)
Sustained Reversal In PAR Accretion Rate (2/2) Madhya Pradesh – Monthly PAR 15+ Accretion/AUM Rate 1.06% 0.70% 0.62% 0.52% 0.56% 0.47% 0.41% 0.39% 0.39% 0.37% Jun-24 Sep-24 Dec-24 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Bihar & UP – Monthly PAR 15+ Accretion/AUM Rate Other States – Monthly
Slide 10: Continued Customer Addition & High Retention Rates
Continued Customer Addition & High Retention Rates Continued Borrower Addition High Borrower Vintage Borrowers (‘000) Q2 FY26 53% 20% 27% 850 587 756 Q1 FY26 55% 20% 26% Q4 FY25 55% 21% 25% 4,933 4,440 Q3 FY25 57% 21% 23% Q2 FY25 58% 21% 21% Q2 FY25 Addition Write-off Attrition Q2 FY26 < 3 years 3-6
Slide 11: Continued Borrower Deleveraging
Continued Borrower Deleveraging GLP % - Sep-25 Borrower Vintage with CA Grameen GLP % - Sep-25 Borrower Vintage with CA Grameen Key Highlights: 0-2 2-4 4-6 >6 Total Unsecured 0-2 2-4 4-6 >6 Sep-25 / Jun-25 / Aug-24 Lender Overlap Total % Total % years years years years Indebtedness (INR) Years years
Slide 12: Delinquencies Due To Tighter Underwriting Largely Crystalized
Delinquencies Due To Tighter Underwriting Largely Crystalized PAR 15+ Sep-25 Borrower Vintage with CA Grameen Key Highlights: Sep-25 / Jun-25 / Sep-24 0-2 2-4 4-6 >6 Lender Overlap Total % years years Years years Unique 1.9% 2.8% 3.3% 3.1% 2.7% CA Grameen + 1 3.1% 4.2% 4.7% 4.9% 4.2% Unique Borrower
Slide 13: Sustained PAR Reduction Across All Operating Geographies
Sustained PAR Reduction Across All Operating Geographies Jun-25 Sep-25 PAR Trend 6.8% 6.9% Top 5 States % GLP PAR 0+ PAR 90+ PAR 0+ PAR 90+ 5.9% 30.5% 9.2% 5.1% 6.8% 3.9% Karnataka 4.9% 5.1% 5.5% 4.7% 4.9% Maharashtra 21.9% 2.7% 1.2% 3.0% 1.3% 4.3% 3.8% 4.1% 3.7% 3.3% Tamil Nadu 18.5% 5.8% 3.4% 4.2%
Slide 14: Early Risk Recognition & Conservative Provisioning
Early Risk Recognition & Conservative Provisioning Q2 FY26 (INR Cr) Consolidated Credit Cost (INR Cr) Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Asset Classification (dpd) EAD EAD% ECL% Opening ECL - (A) 868.7 1,244.0 1,308.6 1,188.0 Stage 1 0 – 15 (GL), 0 – 30 (RF) 24,185.6 95.4% 1.1% Additions (B) - Provisio
Slide 15: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 14 www.creditaccessgrameen.in
Slide 16: Q2 FY26: Key Performance Highlights
Q2 FY26: Key Performance Highlights Cost/Income NIM Ratio GLP Disbursements 13.3% PPOP 32.5% INR 25,904 Cr INR 5,322 Cr INR 695 Cr (3.1% YoY) (32.9% YoY) Wgtd. Avg. COB (3.4% YoY) Opex/GLP Ratio 9.6% 5.2% ROA CRAR Total Total Equity GNPA*: 3.65% PAT 1.8% 26.1% INR 7,164 Cr INR 126 Cr NNPA*: 1.26% (-
Slide 17: H1 FY26: Key Performance Highlights
H1 FY26: Key Performance Highlights Cost/Income NIM Ratio GLP Disbursements 13.1% PPOP 33.0% INR 25,904 Cr INR 10,780 Cr INR 1,348 Cr (3.1% YoY) (27.1% YoY) Wgtd. Avg. COB (-2.4% YoY) Opex/GLP Ratio 9.7% 5.1% ROA CRAR Total Total Equity GNPA*: 3.65% PAT 1.3% 26.1% INR 7,164 Cr INR 186 Cr NNPA*: 1.26
Slide 18: Q2 & H1 FY26: P&L Statement
Q2 & H1 FY26: P&L Statement Profit & Loss Statement (INR Cr) Q2 FY26 Q2 FY25 YoY% Q1 FY26 QoQ% H1 FY26 H1 FY25 YoY% FY25 Interest Income 1,414.1 1,417.7 -0.3% 1,388.1 1.9% 2,802.3 2,845.9 -1.8% 5,546.8 - Interest on Loans 1 1,396.6 1,396.0 0.0% 1,368.1 2.1% 2,764.7 2,807.6 -1.5% 5,437.6 - Interest o
Slide 19: Q2 & H1 FY26: Balance Sheet
Q2 & H1 FY26: Balance Sheet Balance Sheet (INR Cr) Q2 FY26 Q2 FY25 YoY% Q1 FY26 QoQ% H1 FY26 H1 FY25 FY25 Cash & Other Bank Balances 937.5 733.2 27.9% 1,195.1 -21.6% 937.5 733.2 1,443.0 Investments 1,238.0 1,302.5 -5.0% 829.4 49.3% 1,238.0 1,302.5 893.0 Loans - (Net of Impairment Loss Allowance) 24,
Slide 20: Continued Business Traction with Rural Focus
Continued Business Traction with Rural Focus Gross Loan Portfolio (INR Cr) Borrowers (‘000) 3.1% -10.0% 25,948 26,055 4,933 25,904 4,805 4,694 4,562 4,440 25,133 24,810 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 19 www.creditaccessgrameen.in
Slide 21: Consistent Growth in Infrastructure
Consistent Growth in Infrastructure Branches 8.8% 2,114 2,209 2,031 2,059 2,063 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Employees Loan Officers 10.9% 8.3% 20,970 21,333 21,701 19,562 19,333 14,117 14,326 14,496 13,379 12,862 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2
Slide 22: Robust Quarterly Performance Trend (1/3)
Robust Quarterly Performance Trend (1/3) Disbursements (INR Cr) Total Income (INR Cr) 32.9% 1,509 1,454 1,464 6,472 5,085 5,458 5,322 1,408 4,004 1,382 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Margin Analysis (%) Operating Efficiency (%) 5.1% 5.2% 21.1% 20.2% 2
Slide 23: Robust Quarterly Performance Trend (2/3)
Robust Quarterly Performance Trend (2/3) Asset Quality (%) NII, PPOP, PAT (INR Cr) 932 862 876 937 976 5.07% 5.07% 4.62% 4.76% 4.70% 4.06% 3.53% 3.99% 672 623 634 653 695 3.65% 2.44% 3.28% 3.29% 2.64% 2.50% 186 126 1.74% 47 60 -99.5 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1
Slide 24: Robust Quarterly Performance Trend (3/3)
Robust Quarterly Performance Trend (3/3) GLP / Branch (INR Cr) GLP / Loan Officer (INR Cr) 1.9 1.9 12.4 12.6 12.3 1.8 1.8 1.8 12.0 11.7 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Borrowers / Branch Borrowers / Loan Officer 2,429 369 374 2,334 2,275 332 2,158 318
Slide 25: Product Range To Meet Diverse Customer Needs
Product Range To Meet Diverse Customer Needs GLP - Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Product Mix (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total (INR Cr) % of Total IGL 22,731 90% 22,227 89% 23,237 90% 23,114 89% 22,079 85% Family Welfare 211 1% 141 1% 71 0% 261
Slide 26: Our Network & Presence
Our Network & Presence Our Presence as on Sep-25 Uttar Pradesh 16 States & 1 UT 126 Branch Network Q2 FY26 % Share Q2 FY25 % Share 447 Districts Karnataka 380 17.2% 354 17.4% Bihar Maharashtra 339 15.3% 308 15.2% 2,209 Branches 158 Tamil Nadu 388 17.6% 387 19.1% West Bengal Madhya Pradesh 182 8.2% 1
Slide 27: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 26 www.creditaccessgrameen.in
Slide 28: Progressing Well on Liability Strategy
Progressing Well on Liability Strategy Diversified Liability Mix - Institution / Instrument Wise (%) Focus on dynamic liability management • Focus on long-term funding with strong diversification between domestic NBFCs - TL & foreign sources 1.9% FIs - TL • Target to meet funding requirements throug
Slide 29: Stable Liquidity/ ALM Position/ Credit Ratings / ESG Ratings
Stable Liquidity/ ALM Position/ Credit Ratings / ESG Ratings Static Liquidity / ALM Position For the Month For the Financial Year Debt Diversification (INR Cr) Q2 FY26 FY26 Particulars (INR Cr) Oct-25 Nov-25 Dec-25 FY27 Total Drawdowns 3,519 (Jan-26 to Mar-26) Opening Cash & Equivalents (A) 2,132.3
Slide 30: Discussion Summary
Discussion Summary Key Business Highlights Asset Quality & Business Overview Financial Results Overview Liability Strategy Investment Rationale 29 www.creditaccessgrameen.in
Slide 31: Past Five Years Performance Track Record (1/2)
Past Five Years Performance Track Record (1/2) Gross Loan Portfolio (GLP) (INR Cr) Disbursements (INR Cr) Borrowers (‘000) CAGR CAGR CAGR 5% 18% 16% 23,134 4,918 4,694 26,714 25,948 20,037 4,264 18,539 3,912 3,824 21,031 15,466 16,599 13,587 11,011 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 F
Slide 32: Past Five Years Performance Track Record (2/2)
Past Five Years Performance Track Record (2/2) Note: Refer Annexure for definition of key ratios Margin Analysis (%) Operating Efficiency (%) Asset Quality (%) 20.9% 20.6% 5.01% 5.07% 18.8% 18.3% 18.9% 4.8% 4.9% 4.7% 4.5% 4.5% 3.61% 13.0% 12.9% 1.78% 1.95% 11.6% 4.43% 4.76% 10.7% 10.9% 38.1% 39.0% 3
Slide 33: Past Eight Years Cross Cycle Performance
Past Eight Years Cross Cycle Performance Cross-Cycle ROA (%) Cross-Cycle ROE (%) FY18 FY19 FY21 FY22 FY25 UP Farm Floods, NBFC Covid Covid Multiple Loan Waiver Crisis Wave 1 Wave 2 Headwinds 5.6% 5.1% 24.9% 5.0% 22.2% 4.2% 3.6% Avg: 3.6% 18.0% 16.3% Avg: 14.4% 12.9% 2.2% 1.9% 9.0% 7.7% 0.9% 4.0% FY1
Slide 34: Proven Leadership Team with Demonstrated Track Record
Proven Leadership Team with Demonstrated Track Record & Managing Director (16 years) (6 years) (5 years) (5 years) & Compliance Officer (6 years) (3 years) (3 years) (26 years) (23 years) (20 years) (3 years) (21 years) (23 years) (25 years) (2 years) (6 years) • Highly stable senior management enab
Slide 35: Committed to Basics Through Classical JLG Lending Model
Committed to Basics Through Classical JLG Lending Model Microfinance loans are unsecured. JLG mechanism acts as security/ loan collateral Fully aligned with new harmonized guidelines in terms of - JLG Benefits: ✓ Formulation of Board approved policies ✓ Strong group bonding ✓ Process modifications ✓
Slide 36: Focus on Customer Centricity, Loyalty & Retention
Focus on Customer Centricity, Loyalty & Retention “One of the Lowest Cost Organised Financer” - One Stop Shop providing Support to Various Lifecycle Needs of the Customer One of the lowest lending rates in MFI industry Loan Customer Centric Ticket Size Tenure Purpose Type Products (INR) (months) Div
Slide 37: Calibrated Expansion Through Contiguous District-Based Approach
Calibrated Expansion Through Contiguous District-Based Approach Systematic geography selection based on the availability of infrastructure, competition, historical performance trend, social/ economic/ political/ climate risk, growth potential Ensures consistent replication of processes/ controls Fam
Slide 38: Unique Human Capital, Internal Audit & Risk Management
Unique Human Capital, Internal Audit & Risk Management Well-Established Operational Structure Multi-Pronged Approach For Risk Management Sound Understanding of Rural Market Internal Audit (IA): 437 – team members Business Heads • IA frequency – minimum 8 times in a year at branches, 4 times at RO, •
Slide 39: Strong Internal Control Structure: Three Lines Of Defence
Strong Internal Control Structure: Three Lines Of Defence 3rd line of defence: Internal Audit team 2nd line of defence: Risk team 1st line of defence: Field & Quality Control teams Zonal Manager / State Head Zonal Manager handles 100 – 120 branches Regional / Divisional Regional Manager handles 40-5
Slide 40: Continuous Technology Enhancement to Drive Operational Efficiency
Continuous Technology Enhancement to Drive Operational Efficiency Ensures Quick And Seamless Delivery of Need Based Financial Products and Services backed by Robust Technology Infrastructure High touch-high tech delivery model: Future Upgrades & Investments • Digitised all customer touchpoints • Inv
Slide 41: Integrating Risk Management in Every Operating Process
Integrating Risk Management in Every Operating Process Microfinance is a Collection Business, hence Risk Management is Integral to Core Strategy and Operating Processes Contiguous Customer Employee Target Customer Customer Lending Employee District-based Engagement Incentive Segment Due-Diligence Mo
Slide 42: Strong Parentage & Shareholder Base
Strong Parentage & Shareholder Base Shareholding Pattern (%) – September 2025 Others, MF, AIF, 8.02 Insurance, 12.29 Promoter Group, 66.37 FPI, 13.33 Committed to Strong Financial Support Micro Finance Business via Patient Capital • Invested through multiple rounds of • CreditAccess India B.V. (CAI)
Slide 43: Key Ratios: Definitions
Key Ratios: Definitions 1. Portfolio Yield = (Interest on loans – processing fees + Income from securitisation)/ Avg. quarterly on-book loans 2. Weighted Avg. COB = (Borrowing cost – finance lease charges) / Daily average borrowings (excl. Financial Liability towards Portfolio Securitized) 3. Margin
Slide 44: Thank You!
For Further Queries: Thank You! Nilesh Dalvi Chief Financial Officer Contact No – 9819289131 Email Id – nilesh.dalvi@cagrameen.in Sahib Sharma DGM – Investor Relations Contact No – 7066559383 Email Id – sahib.sharma@cagrameen.in 43 www.creditaccessgrameen.in www.creditaccessgrameen.in 43