CREDITACCESS GRAMEEN LIMITED (CREDITACC)
🎯 Key Takeaways
- CreditAccess Grameen Limited is in a strong growth and profitability phase, transitioning from early-stage microfinance to a mature, asset-quality-driven financial services business with expanding retail finance contribution. Management is focused on sustaining momentum through operational efficiency and capital-light growth, supported by robust capital buffers and improving asset quality metrics.
- Revenue declined 5% QoQ to ₹1,380 in Q3FY25.
- ⚠️ Concentration in MFI segment: Despite retail finance growth, MFI share decline could pressure margins if not offset by higher-yielding products.
📖 The Story
CreditAccess Grameen Limited is in a strong growth and profitability phase, transitioning from early-stage microfinance to a mature, asset-quality-driven financial services business with expanding retail finance contribution. Management is focused on sustaining momentum through operational efficiency and capital-light growth, supported by robust capital buffers and improving asset quality metrics.
📰 What's Happening
In Q1 FY27 (July 29, 2026 filing), the company reported 16.4% YoY AUM growth to INR 30,319 Crore, driven by 2.5 Lakh new borrowers and a 250 bps sequential increase in retail finance AUM to 20.6%. Disbursements rose 11.9% to INR 6,107 Crore, with digital collections at 24.2% of total. PAT surged 720% YoY to INR 493 Crore, reflecting ROA of 5.9% and ROE of 24.4%, while asset quality improved with PAR 90 at 1.46% and net NPA at 0.76%. Management highlighted stable profitability despite MFI share decline and confirmed unchanged guidance, citing no El Nino impact and strong liquidity (INR 3,536 Crore cash, 10.4% of assets). Earlier board meetings (July 24, 2026) approved a ₹2,000 Crore public NCD issue and ₹1,000 Crore private placement to fund growth, while employee stock option allotments were completed on July 6, 2026.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,065 | 1,170 | 1,247 | 1,292 | 1,457 | 1,512 | 1,453 | 1,380 |
| Operating Profit | 756 | 864 | 903 | 930 | 1,025 | 1,059 | 754 | 361 |
| OPM % | 70.8% | 73.8% | 72.4% | 71.8% | 70.2% | 70.0% | 51.8% | 26.1% |
| Net Profit | 297 | 348 | 347 | 353 | 397 | 398 | 186 | -100 |
| EPS | ₹18.67 | ₹21.93 | ₹21.82 | ₹22.20 | ₹24.93 | ₹24.95 | ₹11.67 | ₹-6.24 |
The company has shown a clear inflection in profitability, with PAT turning sharply positive after years of volatility — Q1 FY27 PAT of INR 493 Crore marks a 719.7% YoY jump, reversing prior losses seen in earlier quarters like Q3FY25’s NP of -INR 100 Crore. This turnaround aligns with management’s focus on retail finance, which now contributes to stable ROEs and improved asset quality (PAR 90 at 1.46%, net NPA at 0.76%). Revenue trends show stabilization after earlier growth phases, with operating margins holding firm around 50-70% in recent quarters before settling near 51.8% in Q2FY27, indicating disciplined cost management. The shift from high-margin but volatile early-stage operations to consistent profitability underscores a maturing business model.
🔮 Management Outlook & What's Next
Management has maintained its forward guidance without revision, citing no El Nino impact and confidence in sustaining the current growth trajectory through FY27. Key priorities include expanding retail finance contribution, preserving asset quality, and leveraging strong liquidity (INR 3,536 Crore cash) to support operations without capital raises. They emphasized that retail finance is central to stable ROEs and that profitability can be sustained even during up cycles, with no cap on ROA performance. No specific forward-looking guidance on disbursements or AUM growth was provided, but confidence in operational resilience remains high.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Bajaj Finance Limited | 5.67 L Cr | 30.9 | 22.4% | 18.6% | 1.37 |
| Bajaj Finserv Limited | 2.77 L Cr | 14.4 | — | 13.4% | — |
| Shriram Finance Limited | 2.21 L Cr | 23.3 | — | — | — |
| Jio Financial Services Limited | 1.54 L Cr | 92.1 | — | — | — |
| Power Finance Corporation Limited | 1.47 L Cr | 5.0 | — | — | — |
| Muthoot Finance Limited | 1.33 L Cr | 26.6 | — | — | — |
| Cholamandalam Investment and Finance Company Limited | 1.32 L Cr | 31.9 | — | — | — |
| Tata Capital Limited | 1.31 L Cr | — | — | — | — |
| Indian Railway Finance Corporation Limited | 1.29 L Cr | 18.4 | — | — | — |
| Bajaj Holdings & Investment Limited | 1.15 L Cr | 15.3 | — | — | — |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Concentration in MFI segment: Despite retail finance growth, MFI share decline could pressure margins if not offset by higher-yielding products. 2. Regulatory sensitivity: As an NBFC in microfinance, the company is exposed to potential policy shifts in interest rates or lending caps. 3. Seasonal headwinds: Management acknowledged typical seasonal pressures, which could impact near-term disbursements. 4. Funding dependency: While liquidity is strong, long-term growth may require continued access to capital markets, especially if disbursements outpace cash generation.
📋 Recent Filings
-
🔴 Financial Results 29 July 2026CreditAccess Grameen Limited reported robust Q1 FY27 performance with AUM growing 16.4% YoY to INR 30,319 Crore and disbursements rising 11.9% to INR ...
-
Announcement 24 July 2026CreditAccess Grameen Limited announced that the audio recording of its Q1 FY27 results conference call held on July 24, 2026 is now available on its i...
-
🟡 Board Meeting 24 July 2026The board approved unaudited standalone and consolidated Q1 FY27 results (ended June 30, 2026) showing revenue of **₹1,784 crores**, profit of **₹493 ...
-
Announcement 24 July 2026CreditAccess Grameen Limited reported strong Q1 FY27 performance with AUM growing 16.4% YoY to ₹30,319 crores, driven by robust profitability and asse...
-
🔴 Financial Results 24 July 2026CreditAccess Grameen Limited reported robust Q1 FY27 growth with AUM rising 16.4% YoY to **₹30,319 crores**, PPOP up 33.6% YoY to **₹873 crores**, and...
-
Announcement 22 July 2026CreditAccess Grameen Limited announced its investor meeting schedule for July 27-29, 2026, featuring one-on-one sessions with mutual funds including E...
-
share transfer 8 July 2026CreditAccess Grameen Limited received SEBI-mandated dematerialization certificates for the quarter ended June 30, 2026, confirming securities transfer...
-
🟡 Board Meeting 6 July 2026CreditAccess Grameen Limited announced the allotment of 26,102 equity shares of ₹10 each under its Employees Stock Option Plan to 11 employees who exe...
-
🟡 Board Meeting 3 July 2026CreditAccess Grameen held its 35th Annual General Meeting on July 3, 2026, via video conference, approving the annual financial statements and appoint...
-
🟡 Board Meeting 3 July 2026CreditAccess Grameen Limited reported record Q1 FY27 disbursements of INR 30.31 crores, a 16.4% YoY increase, driven by 17.5% borrower additions and 7...
🧠 Analyst's Read
CreditAccess Grameen is executing a disciplined growth strategy with improving asset quality and profitability, supported by strong retail finance momentum and a solid liquidity position. The key watchpoint is sustaining this trajectory amid sector-specific risks and seasonal volatility, but current fundamentals and management’s conservative guidance suggest operational resilience. Investors should monitor quarterly disbursement trends and retail finance contribution as leading indicators of momentum.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts when CREDITACC files new disclosures
Track CREDITACC filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track CREDITACC — FreeFree account · 2 AI queries/day
© 2026 StockFin.ai — AI-powered Indian stock research