CreditAccess Grameen Ltd
CREDITACC NSE
CreditAccess Grameen Ltd
Financial ServicesNSE: CREDITACC BSE: 541770 Finance
Key Fundamentals
SmallcapMicrofinanceFinancial ServicesMarket Cap
₹23,637 Cr
Volatility
Moderate
P/E Ratio
19.08
EBITDA
₹2,995 Cr
Return on Equity
9.92%
Debt to Equity
2.98
Book Value
₹488.77
EPS
₹93.77
52W High
₹1,634
52W Low
₹1,113
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view CreditAccess Grameen Ltd insights
52 extracted metrics + investor summaries across FY05–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company's median sales growth is 31.0% of last 10 years
Weaknesses
5- Stock is trading at 2.95 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 13.8% over last 3 years.
- Dividend payout has been low at 3.67% of profits over last 3 years
Growth Rate
Revenue Growth
5.32% ↘
Net Income Growth
46.33% ↗
Cash Flow Change
-346.19% ↘
ROE
29.84% ↘
ROCE
-3.51% ↘
EBITDA Margin (Avg.)
4.62% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 4d agoAI opinion · based on fundamentals
Risk high
CreditAccess Grameen is India's largest NBFC-MFI with a market cap of ~₹24,614 crore, trading at a PE of 20.1x and 3.1x book value. FY25 was severely impacted by an industry-wide asset quality cycle, with net profit declining to ₹531 crore from ₹1,446 crore in FY24 and ROE compressing to 7.7%, though the company's 5-year sales CAGR of 24% and branch network expansion to 2,222 branches signal structural growth capacity.
Bull Case 7
- Median sales growth of 31% over the last 10 years and compounded revenue CAGR of 24% over 5 years demonstrate sustained top-line momentum in a large addressable microfinance market
- Compounded profit CAGR of 40% over 5 years reflects strong earnings power in normalised credit cycles, with TTM profit growth of 524% indicating a sharp recovery from the FY25 trough
- Branch network expanded 7.9% YoY to 2,222 branches with 165 new branches opened in 9M FY26, supporting distribution-led growth in underpenetrated geographies
- Credit costs guided to normalise from 7.8% in FY25 to ~3.5% in H2 FY26, with Q4 FY26 already delivering ROA of 4.4% and ROE of 17.8%, signalling cyclical recovery
- Diversification into retail finance (home loans, secured lending) now at 6.8% of AUM vs 2.9% a year ago, with a target of 24-25% of AUM — reducing concentration risk in unsecured microfinance
- Disbursements recovering strongly with Q3 FY26 up 13.4% YoY to ₹5,767 crore and Q1 FY26 up 21.9% YoY to ₹5,458 crore after deliberate slowdown in FY25
- Management targets becoming a ₹50,000 crore AUM entity by 2028 with an estimated 21% AUM CAGR over FY26-28, backed by AA- credit rating enabling competitive borrowing costs
Bear Case 8
- FY25 net profit collapsed 63% YoY to ₹531 crore from ₹1,446 crore in FY24, driven by credit costs of 7.8% that sharply exceeded the 5.5-6% guidance band
- GNPA increased 97.6% between Q4 FY24 and Q2 FY25, while NNPA more than doubled (up 107.5%), exposing vulnerability to microfinance sector stress
- ROE declined sharply to 7.7% in FY25 from ~17% in H1 FY25, with 3-year average ROE at a low 13.8% — below the cost of equity for a high-risk lending business
- Stock trades at 3.1x book value despite the compressed ROE of 7.7%, implying the market is pricing in a recovery that may take longer than expected
- Dividend payout is minimal at 3.67% of profits over the last 3 years with a current yield of just 0.66%, offering negligible income return to shareholders
- Low interest coverage ratio indicates limited buffer if asset quality deteriorates further or funding costs rise in a tight liquidity environment
- Gross loan portfolio declined 2.9% YoY in FY25 and active borrowers fell from 4.7 million to 4.4 million in FY26 as the company prioritised credit quality over growth
- Microfinance sector faces regulatory and political risks including state-level interference, over-leveraging of borrowers, and RBI tightening on unsecured lending norms
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 10h ago Headwinds 1
- Promoter sells 2.28% stake Aug 7
CreditAccess India B.V. sold 36.57 lakh shares at ₹1,482/share in a block deal on Aug 6, reducing promoter holding from 66.21% to 63.93%. Total transaction value was ₹542.04 crore.
Positives 2
- Q1FY27 profit surges 720% YoY Jul 27
Consolidated net profit jumped 719.7% YoY to ₹493.39 crore with revenue up 25.8% to ₹1,234.4 crore. GNPA improved sharply from 4.70% to 2.18%, NIM expanded to 14.4%, and AUM grew 16.4% to ₹30,319 crore.
- Strong FY27 growth guidance Jul 27
Management guided for 20-25% AUM growth and 3-4% credit cost for FY27, with CRAR at a comfortable 24.9%.
Neutral 2
- Active investor engagement schedule Aug 19
Multiple one-on-one investor meetings scheduled across Aug 11-21 in Chennai, Mumbai, and Bengaluru with funds including Franklin Templeton, Sundaram MF, UTI MF, and India First Life Insurance.
- Conference participation Aug 13-14 Aug 3
CreditAccess Grameen to participate in Equirus and Emkay investor conferences in Mumbai on Aug 13-14, 2026.
TL;DR: CreditAccess Grameen delivered a strong Q1FY27 with profit up 720% YoY and sharp improvement in asset quality (GNPA down to 2.18%). The promoter stake sale of 2.28% is a minor overhang but was positioned to boost free float. Active institutional engagement and robust guidance (20-25% AUM growth) suggest confidence in the microfinance cycle recovery continuing through FY27.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,170 | 1,247 | 1,292 | 1,457 | 1,512 | 1,453 | 1,380 | 1,407 | 1,463 | 1,508 | 1,490 | 1,597 | 1,783 |
| Expenses | 309 | 342 | 365 | 434 | 453 | 700 | 1,020 | 864 | 885 | 845 | 678 | 660 | 558 |
| Financing Profit | 477 | 481 | 486 | 542 | 549 | 269 | -115 | 65 | 96 | 184 | 353 | 459 | 675 |
| Fin. Margin % | 41% | 39% | 38% | 37% | 36% | 18% | -8% | 5% | 7% | 12% | 24% | 29% | 38% |
| Other Income | 1 | 1 | 3 | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 385 | 424 | 442 | 482 | 510 | 485 | 475 | 478 | 482 | 480 | 459 | 478 | 550 |
| Depreciation | 12 | 12 | 13 | 14 | 14 | 17 | 16 | 15 | 15 | 16 | 16 | 16 | 16 |
| PBT | 465 | 469 | 476 | 529 | 535 | 252 | -129 | 51 | 81 | 169 | 338 | 445 | 660 |
| Tax % | 26% | 26% | 26% | 25% | 26% | 26% | -23% | 8% | 26% | 26% | 25% | 24% | 25% |
| Net Profit | 346 | 349 | 353 | 397 | 398 | 186 | -100 | 47 | 60 | 126 | 252 | 340 | 493 |
| EPS in Rs | 22.16 | 21.95 | 22.2 | 24.91 | 24.95 | 11.67 | -6.24 | 2.96 | 3.77 | 7.87 | 15.75 | 21.2 | 30.79 |
| Gross NPA % | 0.89% | 0.77% | 0.97% | 1.18% | 1.46% | 2.44% | 3.99% | 4.76% | 4.7% | 3.65% | 4.04% | 3.17% | 2.18% |
| Net NPA % | 0.27% | 0.24% | 0.29% | 0.35% | 0.45% | 0.76% | 1.28% | 1.73% | 1.78% | 1.26% | 1.36% | 1.12% | 0.76% |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 278 | 464 | 708 | 871 | 1,282 | 1,683 | 2,028 | 2,669 | 3,487 | 5,167 | 5,752 | 6,059 | 6,380 |
| Expenses | 76 | 126 | 264 | 184 | 361 | 639 | 1,069 | 1,235 | 1,179 | 1,444 | 3,030 | 3,061 | 2,740 |
| Financing Profit | 74 | 130 | 128 | 332 | 504 | 470 | 214 | 447 | 1,092 | 1,984 | 767 | 1,093 | 1,672 |
| Fin. Margin % | 26% | 28% | 18% | 38% | 39% | 28% | 11% | 17% | 31% | 38% | 13% | 18% | 26% |
| Other Income | 3 | 2 | 1 | 1 | 1 | 1 | 3 | 81 | 64 | 6 | 4 | 4 | 4 |
| Interest | 129 | 208 | 317 | 354 | 417 | 575 | 745 | 987 | 1,216 | 1,738 | 1,955 | 1,905 | 1,967 |
| Depreciation | 2 | 3 | 4 | 5 | 8 | 20 | 23 | 47 | 50 | 51 | 62 | 63 | 64 |
| PBT | 75 | 130 | 124 | 328 | 498 | 451 | 194 | 481 | 1,105 | 1,939 | 709 | 1,033 | 1,612 |
| Tax % | 35% | 36% | 35% | 35% | 35% | 27% | 27% | 27% | 25% | 25% | 25% | 25% | — |
| Net Profit | 49 | 83 | 80 | 212 | 322 | 328 | 142 | 353 | 826 | 1,446 | 531 | 778 | 1,211 |
| EPS in Rs | 6.68 | 11.41 | 9.37 | 16.54 | 22.41 | 22.75 | 9.15 | 22.65 | 52.87 | 90.72 | 33.27 | 48.54 | 75.61 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 11% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 73 | 73 | 86 | 128 | 144 | 144 | 156 | 156 | 159 | 159 | 160 | 160 |
| Reserves | 303 | 387 | 605 | 1,309 | 2,222 | 2,525 | 3,479 | 4,011 | 4,948 | 6,411 | 6,796 | 7,682 |
| Borrowing | 1,291 | 2,233 | 2,668 | 3,623 | 4,867 | 7,823 | 8,781 | 12,921 | 16,312 | 21,841 | 20,446 | 23,641 |
| Other Liabilities | 60 | 115 | 205 | 53 | 126 | 170 | 281 | 394 | 439 | 460 | 401 | 446 |
| Total Liabilities | 1,727 | 2,808 | 3,564 | 5,114 | 7,357 | 10,662 | 12,697 | 17,482 | 21,858 | 28,871 | 27,802 | 31,930 |
| Fixed Assets | 4 | 11 | 12 | 16 | 25 | 87 | 101 | 629 | 599 | 609 | 604 | 588 |
| CWIP | 2 | 0 | 3 | 1 | 2 | 3 | 1 | 3 | 4 | 5 | 4 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 661 | 663 | 1 | 455 | 1,439 | 893 | 1,075 |
| Other Assets | 1,720 | 2,796 | 3,549 | 5,096 | 7,330 | 9,911 | 11,932 | 16,849 | 20,801 | 26,818 | 26,302 | 30,267 |
| Total Assets | 1,727 | 2,808 | 3,564 | 5,114 | 7,357 | 10,662 | 12,697 | 17,482 | 21,858 | 28,871 | 27,802 | 31,930 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | -931 | -425 | -1,726 | -1,378 | -2,302 | -364 | -1,969 | -3,290 | -4,734 | 1,125 | -2,770 |
| Investing | — | -4 | -5 | 54 | -7 | -636 | -32 | -189 | -314 | -994 | 708 | -101 |
| Financing | — | 934 | 579 | 1,470 | 1,829 | 2,929 | 1,706 | 1,684 | 3,365 | 5,494 | -1,669 | 2,751 |
| Net Cash Flow | — | -1 | 149 | -202 | 444 | -9 | 1,310 | -473 | -239 | -234 | 164 | -120 |
| Free Cash Flow | — | -939 | -433 | -1,731 | -1,396 | -2,323 | -376 | -1,992 | -3,307 | -4,754 | 1,092 | -2,788 |
| CFO/OP | — | -262 | -79 | -241 | -130 | -205 | -27 | -129 | -132 | -112 | 54 | -86 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 17% | 20% | 14% | 20% | 17% | 13% | 5% | 9% | 18% | 25% | 8% | 11% |
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper Advertisement for Q4FY26 Financial Results 2d - Newspaper Advertisement for Q4FY26 Financial Results
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - CreditAccess Grameen schedules investor meetings in Europe from 11-15 May 2026. 2d - CreditAccess Grameen schedules investor meetings in Europe from 11-15 May 2026.
3
Board Meeting Outcome for Outcome Of The Board Meeting Held On May 08, 2026
9h - Board approved audited standalone and consolidated results for quarter and year ended March 31, 2026. 9h - Board approved audited standalone and consolidated results for quarter and year ended March 31, 2026.
4
Announcement under Regulation 30 (LODR)-Press Release / Media Release
8 May - CreditAccess Grameen reported Q4 FY26 PAT of Rs 340 crore; FY26 PAT rose 46.3% to Rs 777.6 crore. 8 May - CreditAccess Grameen reported Q4 FY26 PAT of Rs 340 crore; FY26 PAT rose 46.3% to Rs 777.6 crore.
Frequently Asked Questions about CreditAccess Grameen Ltd
What does CreditAccess Grameen Ltd do?
CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certa...
Where is CreditAccess Grameen Ltd (CREDITACC) listed?
CreditAccess Grameen Ltd is listed on the Indian stock exchanges. It is listed on NSE: CREDITACC and BSE: 541770. You can view its live share price, financials, and ratios on Tapetide.
Which sector does CreditAccess Grameen Ltd belong to?
CreditAccess Grameen Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of CreditAccess Grameen Ltd?
CreditAccess Grameen Ltd has a market capitalisation of approximately ₹23636.56 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of CreditAccess Grameen Ltd?
The Price-to-Earnings (PE) ratio of CreditAccess Grameen Ltd is 19.08. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of CreditAccess Grameen Ltd?
Over the past 52 weeks, CreditAccess Grameen Ltd has traded between a low of ₹1,113 and a high of ₹1,634. This range helps investors understand the stock's price volatility and recent trading levels.
Does CreditAccess Grameen Ltd pay dividends?
Yes, CreditAccess Grameen Ltd has a dividend yield of 0.67%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of CreditAccess Grameen Ltd?
CreditAccess Grameen Ltd has a Return on Equity (ROE) of 9.92%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research CreditAccess Grameen Ltd on Tapetide?
On Tapetide, you can view CreditAccess Grameen Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certain other financial products and services to the members. [1]
Website creditaccessgrameen.in
CEO Mr. Ganesh Narayanan
Employees 20,970
Listed 2018-08-23
Face Value ₹ 10
Issued Size 16,00,80,005