CreditAccess Grameen Limited – Q2 FY27 Results
CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770) reported unaudited results for the second quarter and first half of FY2026‑27, highlighting record profitability and strong balance‑sheet metrics.
Quarter‑two performance
Asset‑under‑management (AUM) increased 19.5 % year‑on‑year (YoY) to INR 30,946 crore from INR 25,903 crore. Disbursements rose 19.4 % YoY to INR 6,355 crore, up from INR 5,322 crore. The retail‑finance portfolio share grew to 23.3 % of AUM in September 2026, compared with 20.6 % in June 2026. New borrower additions totaled 2.3 lakh, of which 35 % were new‑to‑credit (NTC); cumulative new borrowers in H1 FY27 reached 4.9 lakh. Asset quality showed PAR 0+ at 2.1 % and PAR 90+ at 1.1 % in Q2, while GNPA/NNPA for loans beyond 60 days past‑due stood at 1.79 % / 0.59 %. The X‑Bucket collection efficiency was 99.71 % in September 2026. The branch network expanded 5.3 % YoY to 2,326 branches, and the employee base grew 4.5 % YoY to 22,677 staff.
Financial highlights
Total income rose 26.2 % YoY to INR 1,904.8 crore. Pre‑provision operating profit (PPOP) increased 39.6 % YoY to INR 970.2 crore. Credit cost declined 43.2 % YoY to INR 299 crore. Profit before tax (PBT) surged 296.6 % YoY to INR 670.9 crore, and profit after tax (PAT) climbed 298.7 % YoY to INR 501.6 crore, the highest quarterly PAT recorded. Return on assets (ROA) for the quarter was 5.8 % and return on equity (ROE) 23.2 %. Liquidity comprised INR 3,501.9 crore in cash, cash equivalents and investments, representing 10.2 % of total assets. The capital adequacy ratio (CRAR) stood at 26.9 %. Credit ratings from CRISIL, ICRA and India Ratings were AA‑/Stable.
Management commentary
Managing Director and CEO Ganesh Narayanan said the company posted its highest quarterly PAT of INR 502 crore, a five‑fold increase over the past five years. He noted H1 FY27 PAT of INR 995 crore versus INR 778 crore in FY26, with H1 ROA of 5.9 % and ROE of 23.8 %. The FY27 ROA guidance was revised upward from 4.0‑4.8 % to 5.2‑5.8 %, and ROE guidance from 16.0‑20.0 % to 21.0‑24.0 %, while maintaining AUM growth target of 20‑25 % and credit‑cost target of 3‑4 %. Loan pricing was reduced by 50 basis points from October onward. The retailer‑finance share now accounts for roughly 23 % of AUM, reflecting a more diversified product mix that includes business loans, affordable‑housing loans and two‑wheeler financing. For the second half of FY27, the company will focus on responsible growth, monitor drought‑affected districts, meet credit needs of seasoned customers, and accelerate new‑customer acquisition.
Outlook
Guidance for FY27 remains: ROA 5.2‑5.8 %, ROE 21‑24 %, AUM growth 20‑25 %, and credit cost 3‑4 %. The firm expects to leverage its strengthened balance sheet and operational momentum into the seasonally stronger second half.