CreditAccess Grameen (CREDITACC) Q1 25/26 earnings summary

Executive summary

• Achieved record Q1 FY26 disbursements of INR 5,458 crore, up 21.9% YoY, with 2.16 lakh new borrowers added, 43% new-to-credit.

• Retail finance share increased YoY from 2.9% to 6.8%, reflecting diversification and growth.

• Asset quality stabilized, with GNPA at 4.70% and PAR90 at 3.29%, supported by conservative provisioning and accelerated write-offs.

• Employee base grew to 21,333, with attrition rate declining to 27.1% in Q1 FY26.

• Board and Audit Committee reviewed and approved Q1 FY26 results, with no material misstatements identified.

Financial highlights

• Net interest income for Q1 FY26 was INR 937 crore; portfolio yield at 20.3% and interest spread at 10.6%.

• PAT for Q1 FY26 was INR 60 crore, with ROA at 0.9% and ROE at 3.4%; EPS at ₹3.77.

• NIM steady at 12.8%; cost-to-income ratio at 33.5%; PPOP at INR 653 crore.

• Collection efficiency (excluding arrears) at 93.2% for Q1 FY26.

• Liquidity levels at INR 2,025 crore, representing 7.3% of total assets; LCR at 180.66%.

Outlook and guidance

• FY26 GLP growth guided at 14–18%, with NIM expected at 12.6–12.8%.

• Credit cost guidance at 5%-6% for the year, expected to moderate in H2 as asset quality stabilizes.

• ROA projected at 2.9–3.4% for FY26, with steady-state ROA above 4.5% in H2.

• Confident of achieving 25%-30% foreign borrowings by FY28.

• MFI book expected to grow 13%-15% annually; overall growth (including retail) projected at 20%-25%.