Intimation of Analyst/Investor Meet

  • The document is a regulatory submission of the transcript for an Earnings Conference Call held on October 22, 2026, to discuss the company's Q2 FY27 financial results, business strategy, and outlook. The call was hosted by IIFL Capital.
  • The event was scheduled after the earnings announcement, as it specifically discusses the quarterly results for the period ended September 30, 2026 (Q2 FY27).
  • The management participants included:
  • Mr. Sanjay Sharma – Managing Director and Co-Founder
  • Mr. Niraj Kaushik – Deputy Chief Executive Officer
  • Mr. Gaurav Seth – Chief Financial Officer
  • Mr. Sovan Satyaprakash – Chief Strategy and Investor Relations Officer
  • The transcript was made available on the company's website at https://www.ayefin.com/disclosures/analyst-investor-meeting and was submitted to the stock exchanges in compliance with SEBI LODR Regulation 30.
  • The company's financial results, investor presentation, and press release were referenced as being available on the stock exchanges and the company website. The transcript itself contains a detailed summary of the financial performance and management commentary.
  • The document includes standard compliance language, noting that the transcript is edited for factual errors and that in case of discrepancy, the audio recordings uploaded on the stock exchanges on October 22, 2026, will prevail. There is no indication that any unpublished price sensitive information (UPSI) was shared.

Financial Highlights from Transcript

Operational & Financial Metrics (Q2 FY27):

  • Assets Under Management (AUM): INR 7,597 crores (up 26% YoY, 4% QoQ)
  • Disbursements: INR 1,403 crores (up 10% YoY, 15% QoQ)
  • New Borrowers Added: 49,000
  • Active Borrowers: 6.9 lakh across 18 states and 3 union territories
  • Gross NPA (GNPA): 4.20% (down 30 bps QoQ, down 70 bps YoY)
  • PAR > 30 days (PAR X): 6.94% (down 7 bps QoQ, down 109 bps YoY)
  • Credit Cost: 3.82% (down 21 bps QoQ, down 119 bps YoY)
  • Operating Expense Ratio: 8.61% (down 32 bps QoQ)
  • Net Interest Margin (NIM): 15.6%
  • Gross Total Income: INR 527 crores (up 23% YoY, 8% QoQ)
  • Pre-Provision Operating Profit (PPOP): INR 198 crores (up 54% YoY, 11% QoQ)
  • Profit After Tax (PAT): INR 87 crores (up 151% YoY, 16% QoQ)
  • Return on Assets (ROA): 4.0%
  • Return on Equity (ROE): 12.32% (for H1 FY27)
  • Capital Adequacy: 41%
  • Blended Cost of Borrowing: 10.63% (down 15 bps QoQ)
  • Incremental Cost of Borrowing: 10.04% (down 16 bps QoQ)
  • Collection Efficiency (Non-OD): 99.2%
  • Collection Efficiency (Bucket 1): 52.8%
  • Branches: 571 (30+ new branches planned for Q3)
  • AUM per Employee: INR 0.67 crores (up 18% YoY)
  • AUM per Branch: INR 13.3 crores

H1 FY27 Performance:

  • Disbursements: INR 2,622 crores (up 15% YoY)
  • Gross Total Income: INR 1,017 crores (up 23% YoY)
  • PAT: INR 162 crores (up 148% YoY from INR 65 crores)

FY27 Guidance Reiterated:

  • AUM Growth: 25% to 30%
  • Credit Cost: 3.5% to 4.0%
  • Net Interest Margin (NIM): 14.25% to 14.75%
  • Operating Expense Ratio: 8.25% to 8.75%
  • Return on Assets (ROA): 4.0% to 4.5%

Strategic Updates:

  • The company is evaluating launching gold loans and other secured products for its micro-enterprise customers, with plans to update the market later in the year.
  • Management expressed confidence in achieving FY27 guidance, citing a strong first half and expected seasonal strength in the second half (H2 typically contributes 60% of disbursements).
  • The company is mindful of potential headwinds from rising interest rates and draft insurance commission recommendations but has identified operational levers (lower opex, falling credit costs, lower borrowing costs) to mitigate any impact.
  • The portfolio is well-diversified, with 95% originated after June 2024. Droughts declared in parts of Maharashtra, Karnataka, and Madhya Pradesh (18% of AUM) have led to a conscious slowing of disbursements in affected districts, but overall asset quality remains resilient.

Additional Notes Section

  • The document is an official letter of submission to the BSE and NSE, with the transcript of the earnings call attached as an enclosure (Encl.: a/a).
  • The transcript contains extensive financial data and management commentary from the Q2 FY27 earnings conference call, including a full Q&A session with analysts.
  • The submission was digitally signed by Mr. Anuj Jain, Company Secretary & Compliance Officer, on October 29, 2026.