Analysts/Institutional Investor Meet/Con. Call Updates

Ref: CAGL/EQ/2026-27/122 October 26, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai - 400001 Mumbai - 400051 Scrip code: 541770 Symbol: CREDITACC Dear Sir/Madam, Sub.: Transcript of Conference Call for Q2 FY27 Results Pursuant to provision of Regulation 30 and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Q2 FY27 Results Conference Call, held on October 22, 2026. The same is also available on the Company’s website at: www.creditaccessgrameen.in. This is for your information and records. Thanking you Yours’ Truly For CreditAccess Grameen Limited Deepti Ramani Company Secretary & Compliance Officer Encl.: As above “CreditAccess Grameen Limited Q2 FY27 Earnings Conference Call” October 22, 2026 MANAGEMENT: MR. GANESH NARAYANAN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – CREDITACCESS GRAMEEN LIMITED MR. GURURAJ RAO – CHIEF OPERATING OFFICER – CREDITACCESS GRAMEEN LIMITED MR. NILESH DALVI – CHIEF FINANCIAL OFFICER – CREDITACCESS GRAMEEN LIMITED MR. SAHIB SHARMA – DGM, INVESTOR RELATIONS AND STRATEGY – CREDITACCESS GRAMEEN LIMITED MODERATOR: MR. ABHIJIT TIBREWAL – MOTILAL OSWAL FINANCIAL SERVICES Page 1 of 19 CreditAccess Grameen Limited October 22, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the CreditAccess Grameen Limited Q2 FY27 Earnings Conference Call hosted by Motilal Oswal Financial Services Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijit Tibrewal from Motilal Oswal Financial Services. Thank you, and over to you, sir. Abhijit Tibrewal: Thank you, Dorwin. Good evening, everyone. I am Abhijit Tibrewal from Motilal Oswal, and it is our pleasure to welcome you all to this earnings call. Thank you very much for joining us for the CreditAccess Grameen call to discuss their Q2 FY27 earnings. To discuss the company's earnings, I'm pleased to welcome 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 and Strategy. On behalf of Motilal Oswal, we thank the senior management and the Investor Relations team of CreditAccess Grameen for giving us this opportunity to host you today. I now invite Mr. Narayanan for his opening remarks, post which we will open the floor for a Q&A. With that, over to you, sir. Ganesh Narayanan: Thank you, Abhijit. A very good evening, everyone, and a very warm welcome to discuss our second quarter and first half of FY27 business performance. We reported our highest quarterly profit of INR 502 Crore in this quarter, having grown fivefold over the past 5 years. Current financial year marks a clear turnaround, recording INR 995 Crore PAT in the first half as against INR 778 Crore PAT during the previous financial year. Our H1 ROA stood at 5.9% and ROE stood at 23.8%. We are delivering record profitability while remaining amongst the most competitively priced lenders across our product segments. Our lending franchise today spans across Group Loans, Individual Business Loans, secured business loans, affordable housing loans and 2-wheeler finance, with growth, margins and asset quality all moving in the right direction. Our AUM grew 19.5% YoY and 2.1% QoQ to INR 30,946 Crore. Disbursements stood at INR 6,355 Crore, up 19.4% YoY and 4.1% QoQ, taking H1 disbursements to INR 12,461 Crore. We added 2.3 Lakh new borrowers, of which 35% were new-to-credit, taking our H1 additions to 4.9 Lakh customers. We also opened 60 new branches during the quarter, expanding our network to 2,326 branches across 460 districts. Digital collections rose to 26.3% versus 18.1% a year ago. When we began building our retail franchise, our thesis was very simple. The customers we've served for years would need more than a Group Loan as their economic profile improves and financing needs expand. That thesis continues to play out at scale with regulatory support in place. Of the ~45 Lakh borrower base, 15% or 6.8 Lakh borrowers belong to Retail Finance. Page 2 of 19 CreditAccess Grameen Limited October 22, 2026 Retail Finance AUM grew to INR 7,200 Crore, now 23.3% of the total AUM, up from 20.6% in Q1 FY27. Within this, our secured book comprising of Secured Business Loans, Affordable Housing Loans and 2-Wheeler Loans grew 60.9% YoY to INR 695 Crore. Our mortgage presence now spans across 300 GL and 128 Retail Finance branches with 2-wheeler loans offered through 950-plus Group Loan branches. Our 2-Wheeler Loan book witnessed strong traction, having crossed INR 60 Crore compared to INR 20 Crore in Q1. Further, our ability to meet evolving credit needs of our customers is also deepening their loyalty with borrower retention rates improving from 85% in FY26 to 88% in H1 FY27. Alongside, we are also strengthening our collection ability with a dedicated collection team comprising of 500-plus employees across operating geographies. Our Group Loan portfolio stood at INR 23,746 Crore as of September 2026, a marginal decline of 2% from the start of FY27. This was on account of write-offs and graduation. Most of the INR 614 Crore portfolio written-off in H1 FY27 consisted of Group Loans. With write-offs normalizing and the seasonally stronger second half ahead and increase in customer acquisition during H2, we expect the Group Loan book growth to return to guided levels. Commenting on our asset quality, we saw a temporary increase in monthly PAR accretion rate during August and September, driven by excess rainfall and flooding in certain regions of Bihar, UP, Chhattisgarh and Madhya Pradesh, along with seasonal festivities in a few geographies. However, despite this, our asset quality is back to pre-crisis levels at its best in the last 10 quarters. Gross NPA stood at 1.79%, net NPA at 0.59% and PAR 90 plus at 1.11%, each improving sequentially. collection efficiency, excluding arrears, stood at 97.9% and X-Bucket collection efficiency for September stood at 99.71%. Credit cost for the quarter stood at INR 299 Crore or 0.99% on a non-annualized basis, of which 70 bps was driven by new PAR and 29 bps due to increasing ECL provisioning rates. We further strengthened our ECL provisioning at 3.31% after building a macroprudential buffer of 45 bps or INR 137 Crore. Our annualized H1 FY27 credit cost of 3.43% includes normative credit cost of 2.98% and 0.45% of macroprudential buffer, which is well within our guided range. Commenting on our margins, we saw our NIM expand to 15.1% in Q2 from 14.4% in Q1, driven by lower interest reversals in Group Loan book, higher yielding individual loan book, stable cost of borrowing and higher capital push. Our cost-to-income ratio improved to 28.2% and PPOP grew 39.6% YoY and 11.2% QoQ to INR 970 Crore in Q2 FY27. Our marginal cost of borrowing stood at 9.1% in Q2 FY27, while average cost of borrowing was stable at 9.1%. Our capital position strengthened further with our capital adequacy at 26.9%, Tier 1 at 26.2% and total equity base of INR 8,919 Crore. On the liability side, diversifying our funding mix, coupled with focus on long tenure funds remains our medium-term strategy. We signed USD 175 million ECB loan in October, syndicated by Standard Chartered Bank and DBS Bank. Despite global macroeconomic uncertainty and strong competition in the ECB market from FCNR (B) deposit mobilization by banks, the transaction received a strong response at a competitive pricing with financial institutions participating from acr [Showing first 8,000 characters — download PDF for full document]