Q3 2026 CreditAccess Grameen Ltd Earnings Call Transcript
Key Points
- CreditAccess Grameen Ltd (NSE:CREDITACC) reported a strong improvement in asset quality, with X bucket collection efficiency at 99.71% in December 2025.
- The company achieved a 13.4% year-on-year increase in disbursements for Q3 FY26, reaching INR5,767 crore.
- Borrower acquisition strategy is effective, with 2.1 lakh new borrowers added in Q3 FY26, and 50% of these from outside the top three states.
- Net interest income grew by 13.4% year-on-year to INR977 crore, with a portfolio yield of 21%.
- The company maintains a strong liquidity position with INR2,397 crore, amounting to 8.4% of total assets, and a robust funding pipeline with INR5,781 crore in sanctions.
- Despite improvements, states like Uttar Pradesh, Bihar, and Madhya Pradesh still show higher credit costs compared to core states.
- The company experienced a one-time impact of INR18 crore due to new labor codes affecting employee benefit obligations.
- Credit cost for Q3 FY26 stood at INR343 crore, including INR59 crore from accelerated write-offs and INR37 crore from increased ECL rates.
- The PAR 90 stood at 2.94%, indicating some persistent challenges in asset quality.
- Rejection rates for new borrowers have increased, with current approval rates for new borrowers at 55-60%, down from 65% before the implementation of MFIN guardrails.
Ladies and gentlemen, good day, and welcome to the CreditAccess Grameen Ltd. Q3 FY26 earnings conference call hosted by HDFC Securities. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Deepak Shinde from HDFC Securities. Thank you, and over to you, sir.
Good evening, everyone, and welcome to the Q3 FY26 earnings call of CreditAccess Grameen. Today, we have with us the senior management team of CreditAccess Grameen, represented by Mr. Ganesh Narayanan, Managing Director and Chief Executive Officer; Mr. Gururaj Rao, Chief Operating Officer; Mr. Nilesh Dalvi, Chief Financial Officer; and Mr. Sahib Sharma, DGM, Investor Relations.
On behalf of HDFC Securities, I would like to thank the CreditAccess Grameen management team for giving us this opportunity to host the call.
I will now hand over the call to Mr. Ganesh Narayanan for his opening remarks, and then we will open up the floor for Q&A. Over to you, sir.
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