Analysts/Institutional Investor Meet/Con. Call Updates

November 3, 2026 The Manager, The Manager, National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, C-1, Block G, 25th Floor, P. J. Towers, Bandra Kurla Complex, Dalal Street, Bandra East, Mumbai-400051 Mumbai-400001 Symbol: SATIN Scrip Code: 539404 Sub: Transcript of Earnings Call on Financial Results & Future Outlook of M/s Satin Creditcare Network Limited (“the Company”) Dear Sir/Madam, With reference to our earlier intimations dated October 28, 2026 and October 29, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, as amended, please find enclosed Transcript of Q2/H1 FY27 Financial Results Earnings call of the Company held on Thursday, October 29, 2026. The link to access Transcript of Earnings call is Satin-Credit-Care-Q2FY27-Transcript.pdf. This is for your information and record. Thanking you. Yours faithfully, For Satin Creditcare Network Limited (Vikas Gupta) Company Secretary & Chief Compliance Officer Encl: A/a “Satin Creditcare Network Limited Q2 FY27 Earnings Conference Call” October 29, 2026 MANAGEMENT: DR. H.P. SINGH – CHAIRMAN AND MANAGING DIRECTOR – SATIN CREDITCARE NETWORK LIMITED MR. JUGAL KATARIA – GROUP CONTROLLER – SATIN CREDITCARE NETWORK LIMITED MS. ADITI SINGH – CHIEF STRATEGY OFFICER – SATIN CREDITCARE NETWORK LIMITED MODERATOR: MR. PRATIK MATKAR – JM FINANCIAL INSTITUTIONAL SECURITIES Page 1 of 18 Satin Creditcare Network Limited October 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to Satin Creditcare Q2 FY27 Earnings Conference Call. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Pratik Matkar from JM Financial. Thank you, and over to you, sir. Pratik Matkar: Thank you. Good morning everyone and welcome to Q2 FY27 earning conference call of Satin Creditcare. First of all, I would like to thank the management of Satin Creditcare for giving us the opportunity to host this call. From the management team, we have Dr. H.P. Singh, Chairman cum Managing Director, and the senior management team. I would now like to hand over the call to Dr. H.P. Singh for his opening remarks, post which we can open the floor for Q&A. Thank you, and over to you, sir. H.P. Singh: Thank you. Good morning everyone and thank you for joining us for Satin Creditcare Network Limited's H1 FY27 earnings call. When we spoke in May, we said that FY26 had tested the sector and separated the institutions that were structurally sound from those that were not. In July, we said that the test was behind us and that the question that matters now is who is positioned to grow in a way that holds up when the next cycle turns. Q2 is further proof that we were -- we are not just emerging stronger from the last cycle but building the resilience to grow sustainably through the next. H1 FY27 marks a defining milestone for Satin with a standalone PAT of INR292 crores, the highest ever, closing in on our FY26 full-year standalone profit of INR302 crores in just six months, alongside our 21st consecutive profitable quarter. On a consolidated basis, H1 PAT stood at INR299 crores, against INR98 crores in the first half of last year. This performance reflects the philosophy that guides us, dream big, deliver bigger. The first half of FY27 reflects the progress we have made in strengthening our underlying business and positioning Satin to capitalize on the evolving microfinance landscape. Following a challenging period for the sector, improved borrower indebtedness, industry guardrails, and greater credit discipline, they have contributed to a more conducive operating environment. However, we remain conscious that the sustainability of this recovery will depend on prudent underwriting, responsible customer selection, and consistent collection performance. At Satin, we have remained focused on these fundamentals while pursuing our growth opportunities. We want to address two important points which were discussed in earlier quarters. The first is the monsoon. We had earlier indicated that the revised outlook warranted caution on rural cash flows over the subsequent two to three months. That period has now passed and the recovery has now been very encouraging. Assam, where four districts were severely impacted by floods, has almost fully recovered with no discernible impact on our credit cost. 42,394 borrowers were granted a moratorium, and Page 2 of 18 Satin Creditcare Network Limited October 29, 2026 nearly 90% have resumed repayments during the moratorium period itself, reflecting the gradual restoration of livelihoods. This is also a very positive indicator of our robust underwriting, thus resulting in negligible impact on credit cost. As a genuine customer-centric gesture, we have decided to pass on the entire insurance payout that will be received under our NATCAT insurance program to the affected customers. Importantly, we didn't need to utilize any portion of the management overlay for this event, reflecting the resilience of our portfolio and the effectiveness of our risk management framework. The second point is geographical diversification. We want to address concerns around Karnataka and Maharashtra, which have both been viewed as stress states this year, owing to the drought conditions. Our exposure is negligible. Karnataka and Maharashtra account for 1% each of our on-book portfolio. This leaves us well protected from stress in these markets and allays concerns about the possibility of asset quality being impacted. Also, as of now, we have not witnessed any stress in repayment in these states. Consolidated AUM reached INR16,589 crores, growing 31% year- on-year. Standalone AUM stood at INR13,608 crores, up 23% year- on- year. Consolidated disbursement for the quarter stood at INR3,697 crores, up 41% year- on- year, taking first half disbursements to INR7,192 crores, up 48% year- on- year. Consolidated profit after tax for the quarter was INR176 crores, up 231% year- on- year, and 43% sequentially. Standalone profit after tax was INR172 crores, up 231%. Consolidated PPOP grew 53% to INR324 crores in the quarter and 43% to INR590 crores for the half year. Consolidated ROA for the quarter stood at 4.5% and ROE at 22.8%, and on adjusting the buffer, adjusted ROA was 5.5% and ROE at 27.7% respectively. I shall discuss this in detail in a while. Our operating expense ratio was 6.6% against 7.2% a year ago. Cost-to-income improved to 41.6% from 49.8%. Standalone return on assets for the quarter was 4.9% and return on equity 20.6%. For the half-year reported, ROA stood at 4.3%, and ROE at 17.8%. ROA after adjusting the management overlay stood at 6% and ROE at 25% for the quarter. On the asset quality, we delivered a very strong quarter in terms of asset quality. What is remarkable is the phenomenal reduction in slippages. Slippages in H1 FY26 were INR317 crores and it has drastically reduced to INR103 crores during H1 FY27. There is a decline of 68% year- on- year, that is about one-third. Standalone GNPA improved to 1.9% from 2.2% in June and 3.5% a year ago, which in absolute terms is INR197 crores. PAR 1 stands at 2.9%. Ex-pocket collection efficiency was 99.8%. Coverage has strengthened sharply across every bucket. Stage 3 coverage is now 91% against 85% in June. Phase 2 coverage has gone up from 21% in June to 62%. Our on-book provision stands at INR263 crores against gross NPA of INR197 crores and against the provision requirement under ARPI norms of INR152 crores. In other words, our provision Page 3 of 18 Satin Creditcare Network Limited October 29, 2026 exceeds our gross non-performing assets and net NPA on this basis is negative. Our over [Showing first 8,000 characters — download PDF for full document]