Analysts/Institutional Investor Meet/Con. Call Updates

Ref: SSFL/Stock Exchange/2026-27/083 November 05, 2026 To To BSE Limited, National Stock Exchange of India Limited, Department of Corporate Services Listing Department P. J. Towers, 25th Floor, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code: 542759 and 890221 Symbol: SPANDANA and SSFLPP Dear Sir/Madam, Sub: Transcript of conference call held on Friday, October 30, 2026. Ref: Company letter ref no. Ref: SSFL/Stock Exchange/2026-27/072 dated October 24, 2026 Ref: Company letter ref no. Ref: SSFL/Stock Exchange/2026-27/080 dated October 30, 2026 In furtherance to our above-mentioned letter, please find enclosed herewith a transcript of the conference call held on Friday, October 30, 2026, to discuss the financial and operational performance of the Company for the quarter and half year ended September 30, 2026. The aforesaid information shall also be made available on the website of the Company at www.spandanasphoorty.com. Kindly take the above on record. Thanking you. Yours sincerely, For Spandana Sphoorty Financial Limited Vinay Prakash Tripathi Company Secretary Encl: as above Spandana Sphoorty Financial Limited CIN - L65929TG2003PLC040648 Galaxy, Wing B, 16th Floor, Plot No.1, Sy No 83/1, Hyderabad Knowledge City, TSIIC, Raidurg Panmaktha, Hyderabad – 500081, Telangana Ph: +9140-48126666 | contact@spandanasphoorty.com | www.spandanasphoorty.com “Spandana Sphoorty Financial Limited Q2 and H1 FY27 Earnings Conference Call” October 30, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges on 30th October 2026 will prevail. MANAGEMENT: MR. VENKATESH KRISHNAN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – SPANDANA SPHOORTY FINANCIAL LIMITED MR. ASHISH DAMANI – CHIEF FINANCIAL OFFICER – SPANDANA SPHOORTY FINANCIAL LIMITED Page1 of 16 Spandana Sphoorty Financial Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Spandana Sphoorty Financial Limited Q2 and H1 FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and the expectations of the company as on the date of this call. These statements are not a guarantee of future performance and involve risks and uncertainties that are difficult to predict. 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 this conference, 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. Venkatesh Krishnan, MD and CEO, Spandana Sphoorty Financial Limited, for his opening remarks. Thank you, and over to you, sir. Venkatesh Krishnan: Spandana Namaskar. Thank you all for joining the Q2 FY27 performance update. A good quarter for the third time in a row after a series of turbulent periods. The AUM managed to cross the INR5,000 crores for the first time in recent quarters, showing a 10% growth over the previous quarter. We managed to add about 1.5 lakh new subscribers or consumers, which again showed a 10% increase over the previous quarter. The share of new to Spandana or new to credit customers was roughly 65% during the last quarter, showing a 4% growth over the previous quarter. Monthly opex was around the similar lines of INR50-odd crores. The yield improved to 24.9%. Marginal cost of borrowing was 10.6%. Borrowing mix had about 57% share from banks. We managed to raise INR1,427 crores of debt. Overall GNPA was 2.54%, net was 1.5% (Errata: to be read as 0.5%) with a PAT of INR18 crores. We managed to garner INR995 crores of funds under the CGS scheme, all of which has been utilized as I talked to you. The non-CGS borrowing was at 10.8%. I said 10.6% that included the CGS. A couple of new initiatives. The new LOS that I spoke of in the last quarter has got piloted, and we hope to complete the entire migration of our branches over the next couple of months. CFL merger, which has been initiated, is progressing. We are awaiting the regulator nod, should happen over the next 3, 4 months. We are strengthening our leadership team with a leaner structure in certain geographies to begin with. This is going to be a, sort of, a new structure, which is generally not prevalent in the industry, wherein we are trying to remove too many layers, but at the same time, have some senior people at the top so that the supervision and manageability is much better than what it is generally on the ground. Page 2 of 16 Spandana Sphoorty Financial Limited October 30, 2026 We have managed to raise INR194 crores of second tranche of partly paid shares, thereby 97% of the subscribers participated in the first tranche, participated in the second tranche as well. So all in all, as I said, we are moving in the right direction. And hopefully, we should continue to remain steady. I'm sure there will be a lot of doubts in the minds of people or articles that are floating around about El Nino. Yes, we have identified, as reported in the press, Karnataka and Maharashtra as the 2 states wherein one could experience some stress. Fortunately, our book is about INR600 crores in these 2 states put together, of which about 96% of the portfolio is in current status, 3% is in the GNPA. What we have done is in the state of Maharashtra, we have bifurcated the branches into various risk categories. And we realized that out of the 127-odd branches that we have in Maharashtra, 18 branches are so-called critical branches that is having special focus. So we have worked out certain strategies between policy and risk. What we are looking at is in some of these stressed out branches or top branches, we are, at this point in time, staying away from onboarding new to credit customers and making the norms for new to Spandana customers a little more stringent and ensuring that the existing customers have repaid in time for a repeat loan. With that, let me hand it over to Ashish Damani, our CFO, for further financial details. Thank you. Ashish Damani: Spandana Namaskar. Good evening to everyone, and thanks for joining the call. I'm sure you had some chance to go through the presentation, which we have put up on the exchanges. I would like to just highlight the first page of the presentation. We have made a lot of efforts over the last 2 years focused on the 4 pillars, so to say, to see improvement in the financial performance. I will cover one by one. Portfolio quality. We have strengthened our underwriting principles. We have strengthened our onboarding process of the customer. And resultantly, today, if we see the X-bucket collection efficiency, which at a point in time was as low as 96.2% over last 2 years at a particular point in time, today is at 99.6%. The delinquent bucket between 31 to 90 has also seen a huge improvement. It is at 0.4% compared to 9.8% at a point in time. Accordingly, GNPA has also seen a reduction to 2.6% from the peak of 5%. The other aspect, which we have focused on was on improving the productivity. We have been increasing our customer acquisition quarter after quarter. We were at 1.13, 2 quarters back. Last quarter, we did about 1.35 -- and this quarter, second quarter of this financial year, we have done 1.5 lakh borrowers acquisition. So we have been strengthening this. And resultantly, what we see is borrowers per branch has improved by 8%. Borrowers per loan officer has seen a 15% increase. Now we are at 211 borrowers per loan officer and average MFI Page 3 of 16 Spandana Sphoorty Financial Limited October 30, 2026 outstanding since we have started giving loans in line with the market in terms of ticket sizes. Today, we are at INR45,000 compared to INR22,000 in the past. One other area of focus was to reinforce the [Showing first 8,000 characters — download PDF for full document]