CreditAccess Grameen (CREDITACC) Q4 25/26 earnings summary

Executive summary

• Achieved a decisive inflection in Q4 FY26 with 14% AUM growth year-over-year and 11.4% quarter-over-quarter, despite 7.6% write-offs in FY26.

• PAT surged 619.4% YoY in Q4 and 46.3% YoY for FY26, with ROA and ROE improving significantly.

• Asset quality normalized, with GNPA at 3.17% and collection efficiency above 95%.

• Added 9.8 lakh borrowers in FY26, with 38% new to credit; digital adoption accelerated, with 25.4% of borrowers active on the Grameen Mahi app.

• Opened 183 new branches, closing FY26 with 2,236 branches and a 4.6% increase in employee base.

Financial highlights

• Q4 FY26 AUM: ₹29,590 Cr (+14.0% YoY); Disbursements: ₹8,313 Cr (+28.4% YoY); full-year disbursements up 24.1% to ₹24,859 Cr.

• NIMs expanded by 35 bps quarter-over-quarter to 14.2% in Q4; cost of borrowing declined to 9.2%.

• PPOP grew 23.1% YoY and 14.7% QoQ to ₹780 Cr in Q4; full-year PPOP at ₹2,809 Cr (+6.5% YoY).

• PAT grew over 6x YoY and 34.7% QoQ to ₹340 Cr in Q4; full-year PAT at ₹778 Cr (+46.3% YoY).

• Standalone revenue from operations for FY26 was ₹5,762.64 Cr; total assets as of March 31, 2026 stood at ₹31,929.84 Cr.

Outlook and guidance

• FY27 guidance: AUM growth of 20%-25%, NIM of 12.8%-13.2%, cost-to-income ratio of 33%-35%, credit cost of 3%-4%, ROA of 4%-4.8%, and ROE of 16%-20%.

• Long-term CAGR target of 20%-25% over the next decade under Project Shakti.

• Microfinance portfolio expected to grow at 10%-12%, with retail finance share projected to reach 24%-25% by FY27.

• Focus on organic and inorganic growth, digital enablement, and expanding secured lending.

• The company continues to focus on its core lending business, with no indication of a change in business model or segment.