CreditAccess Grameen Ltd logo

CreditAccess Grameen Ltd

CREDITACC NSE

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]

AI Verdict: HOLD Confidence: 5%

CreditAccess Grameen has strong analyst consensus (87.5% buy ratings) and impressive TTM profit growth of 46%, but declining ROE to 11% last year, low interest coverage, and promoter holding reduction of 7.44% over 3 years warrant caution. At a PE of 29.3x and PB of 2.87x, the valuation leaves limited margin of safety for a microfinance lender facing asset quality risks.

Key Fundamentals

SmallcapMicrofinanceFinancial Services
Market Cap
₹23,691 Cr
Volatility
Moderate
P/E Ratio
30.09
EBITDA
₹2,995 Cr
Return on Equity
22.01%
Debt to Equity
2.98
Book Value
₹489.35
EPS
₹93.77
52W High
₹1,568
52W Low
₹1,113

Technical Indicators

Key Insights

Strengths

1
  • Company's median sales growth is 31.0% of last 10 years

Weaknesses

6
  • Stock is trading at 2.98 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
  • Promoter holding has decreased over last 3 years: -7.44%

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 anthropic claude-opus-4.6 3d ago
HOLD
Risk high

CreditAccess Grameen has strong analyst consensus (87.5% buy ratings) and impressive TTM profit growth of 46%, but declining ROE to 11% last year, low interest coverage, and promoter holding reduction of 7.44% over 3 years warrant caution. At a PE of 29.3x and PB of 2.87x, the valuation leaves limited margin of safety for a microfinance lender facing asset quality risks.

Bull Case 8
  • Overwhelming analyst consensus with 87.5% buy ratings (14 out of 16 analysts recommend buy)
  • TTM profit growth of 46% indicates strong earnings recovery and operational leverage
  • Exceptional median sales growth of 31% over last 10 years demonstrates consistent business scaling
  • 5-year compounded sales CAGR of 24% reflects robust loan book expansion in underpenetrated microfinance segment
  • 5-year compounded profit CAGR of 40% significantly outpaces revenue growth showing improving margins
  • Stock price CAGR of 26% over 1 year shows renewed market confidence after consolidation
  • Market cap of Rs 22,733 crore provides reasonable scale and liquidity for institutional investors
  • 10-year compounded sales CAGR of 29% demonstrates long-term structural growth trajectory in rural lending
Bear Case 8
  • ROE has declined from 14% (3-year and 5-year average) to just 11% last year, indicating deteriorating capital efficiency
  • Promoter holding decreased by 7.44% over last 3 years signaling potential lack of promoter confidence
  • Low interest coverage ratio raises concerns about debt servicing ability in a rising rate environment
  • Trading at 2.87x book value is expensive for a microfinance lender with declining return ratios
  • Dividend payout of only 3.67% of profits over last 3 years despite repeated profitability shows poor capital return to shareholders
  • 3-year compounded profit CAGR of -2% reveals earnings volatility likely from COVID-era asset quality stress
  • 3-year stock CAGR of only 2% versus 5-year CAGR of 14% indicates prolonged underperformance and investor fatigue
  • TTM sales growth decelerated sharply to 5% from 3-year CAGR of 20%, suggesting loan book growth is slowing

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 1
  • RBI penalty for compliance lapse May 29

    RBI imposed a ₹3.10 lakh penalty on CreditAccess Grameen for weak software alerts on risky transactions. Order received on May 29, 2026.

Positives 2
  • Active global investor engagement Jun 23

    Company scheduled one-on-one meetings with top institutional investors including Schroders, Invesco, Macquarie Group, and Goldman Sachs across Hong Kong, Singapore, and virtual sessions between June 3-25, 2026.

  • Experienced compliance officer appointed Jun 12

    Devika Praveen appointed as Chief Compliance Officer, bringing nearly 30 years of experience from AU Small Finance Bank and Kotak Mahindra Bank, strengthening regulatory leadership.

Neutral 4
  • ₹325 Cr NCD allotment at 9.25% Jun 24

    Allotted 32,500 senior secured NCDs worth ₹325 crore at 9.25% fixed coupon (quarterly), maturing June 26, 2028, to be listed on BSE Wholesale Debt Market.

  • ₹100 Cr NCD raise at 9.15% Jun 12

    Allotted 10,000 NCDs worth ₹100 crore on June 12, 2026, carrying a coupon rate of 9.15% per annum.

  • FY26 BRSR filing submitted Jun 9

    Filed Business Responsibility and Sustainability Report for FY26 disclosing key ESG metrics and operational data.

  • 35th AGM held on Jun 8 Jun 8

    CreditAccess Grameen held its 35th Annual General Meeting on June 8, 2026, with newspaper publication submitted to BSE and NSE.

TL;DR: CreditAccess Grameen is actively raising debt capital (₹425 crore via NCDs in June) and aggressively engaging global institutional investors including Goldman Sachs, Macquarie, Schroders, and Invesco. The RBI penalty of ₹3.10 lakh is negligible financially but flags a compliance gap now being addressed with a seasoned new CCO appointment. The trend is constructive with strong fundraising momentum and investor interest, though the microfinance sector's regulatory scrutiny remains a background risk to monitor.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
1,065
1,170
1,247
1,292
1,457
1,512
1,453
1,380
1,407
1,463
1,508
1,490
1,597
Expenses
311
309
342
365
434
453
700
1,020
864
885
845
678
660
Financing Profit
409
477
481
486
542
549
269
-115
65
96
184
353
459
Fin. Margin %
38%
41%
39%
38%
37%
36%
18%
-8%
5%
7%
12%
24%
29%
Other Income
1
1
1
3
2
1
1
2
1
1
1
1
1
Interest
346
385
424
442
482
510
485
475
478
482
480
459
478
Depreciation
12
12
12
13
14
14
17
16
15
15
16
16
16
PBT
398
465
469
476
529
535
252
-129
51
81
169
338
445
Tax %
25%
26%
26%
26%
25%
26%
26%
-23%
8%
26%
26%
25%
24%
Net Profit
297
346
349
353
397
398
186
-100
47
60
126
252
340
EPS in Rs
18.98
22.16
21.95
22.2
24.91
24.95
11.67
-6.24
2.96
3.77
7.87
15.75
21.2
Gross NPA %
1.21%
0.89%
0.77%
0.97%
1.18%
1.46%
2.44%
3.99%
4.76%
4.7%
3.65%
4.04%
3.17%
Net NPA %
0.35%
0.27%
0.24%
0.29%
0.35%
0.45%
0.76%
1.28%
1.73%
1.78%
1.26%
1.36%
1.12%
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
278
464
708
871
1,282
1,683
2,028
2,669
3,487
5,167
5,752
6,059
Expenses
76
126
264
184
361
639
1,069
1,235
1,179
1,444
3,030
3,061
Financing Profit
74
130
128
332
504
470
214
447
1,092
1,984
767
1,093
Fin. Margin %
26%
28%
18%
38%
39%
28%
11%
17%
31%
38%
13%
18%
Other Income
3
2
1
1
1
1
3
81
64
6
4
4
Interest
129
208
317
354
417
575
745
987
1,216
1,738
1,955
1,905
Depreciation
2
3
4
5
8
20
23
47
50
51
62
63
PBT
75
130
124
328
498
451
194
481
1,105
1,939
709
1,033
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
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
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
11%
0%
0%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
17%
20%
14%
20%
17%
13%
5%
9%
18%
25%
8%
11%

Shareholding Pattern

As of Mar 2026
Promoters 66.24%
FIIs 12.94%
DIIs 12.59%
Public 6.72%
Others 1.52%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
73.99%
73.97%
73.91%
73.89%
73.85%
73.82%
73.74%
73.71%
73.68%
66.77%
66.69%
66.66%
66.58%
66.56%
66.54%
66.50%
66.43%
66.43%
66.37%
66.29%
66.24%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
11.65%
10.88%
10.76%
9.76%
11.38%
12.13%
12.29%
11.68%
12.94%
DIIs
6.53%
7.11%
8.62%
10.01%
10.88%
10.67%
12.54%
12.55%
12.28%
11.78%
15.77%
15.58%
15.76%
16.25%
14.86%
14.18%
12.68%
12.76%
13.33%
13.23%
12.59%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.09%
2.97%
3.36%
3.59%
3.37%
3.57%
3.58%
3.51%
3.72%
4.56%
5.06%
4.78%
5.20%
5.41%
6.71%
8.28%
8.12%
7.14%
6.57%
7.11%
6.72%
Others
16.40%
15.95%
14.11%
12.51%
11.90%
11.94%
10.14%
10.24%
10.33%
16.89%
12.48%
12.97%
0.81%
0.90%
1.12%
1.29%
1.39%
1.54%
1.45%
1.69%
1.52%
No. of Shareholders
0
38,456
38,300
40,033
39,559
34,568
34,142
39,645
41,979
40,622
51,172
57,989
69,824
83,603
1,03,928
1,25,004
1,19,819
1,01,902
83,943
85,666
83,884

Documents

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 ₹23690.51 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 30.09. 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 ₹1,568. 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 0.68%. 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 22.01%. 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

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