Paisalo Digital Ltd(PAISALO)

NSE: PAISALOBSE: 532900

₹ 76.31-0.64%refreshed 26 Oct, 01:58 pm ISTMarket cap: ₹ 6,976 crWebsite: www.paisalo.inUpdated: 23 Oct 2026

About

Paisalo Digital Ltd is a listed NBFC focused on last-mile credit for income-generation and MSME/SME borrowers, operating through a branch, distribution-point and business-correspondent network. As of Q1 FY27 (June 2026) its AUM stood at ₹67,074 mn, up 28% YoY, with quarterly disbursements of ₹17,309 mn - the highest ever. Its strategy is built around co-lending partnerships with public and private sector banks and business correspondent agreements; FY26 revenue was 943.7 crore.^[1][2][3]

Loan book and asset quality

AUM reached ₹67,074 mn in Q1 FY27, up 28% YoY, expanding from ₹61,009 mn (+17% YoY) in Q4 FY26 and ₹55,082 mn (+16% YoY) in Q3 FY26.^[1]
GNPA improved to 0.70% in Q1 FY27 (−14 bps YoY); NNPA improved to 0.49% (−19 bps YoY), from 0.76%/0.61% in Q4 FY26 and 0.83%/0.66% in Q3 FY26.^[1]
Collection efficiency was 97.5% in Q1 FY27 and 98.5% in Q4 FY26, with 90% cashless collections as of Q4 FY26.^[1]
Credit cost stood at 0.9% in Q1 FY27; management targets below 1% near-term and below 2% through credit cycles.^[1]

Products and co-lending

Single reported segment, financing activities, with revenue from operations of ₹734.83 crore in FY25.^[4]
Core lending covers income-generation loans and MSME/SME credit; products per customer grew from ~1.25 (four quarters before Q2 FY26) to ~3 by Q2 FY26.^[5]
Under co-lending with SBI, BoB, UCO, PNB and Karnataka Bank (FY25), Paisalo funds 20% of each loan and partner banks the remaining 80%.^[4]
Six new product verticals - mobility, industrial equipment, medical equipment, agri equipment, alternative fuel, and others - were launched in Q1 FY27 via OEM/institutional partnerships.^[1]
~18 - 20 OEM/institutional partnerships were signed in Q4 FY26 across medical equipment, industrial equipment, alternative fuel, two-wheelers, agri equipment, and small commercial vehicles.^[6]

Distribution network

Network totalled 5,299 touchpoints across 22 states as of Q4 FY26: 422 branches, 3,381 distribution points and 1,496 business correspondents; 427 touchpoints added in Q4 FY26.^[6]
Q3 FY26 network was 4,872 touchpoints (402 branches, 3,041 distribution points, 1,429 BCs); Q2 FY26 was 4,380 touchpoints across 22 states.^[7]
Business correspondent franchise crossed USD 1 billion in gross transaction value in Q1 FY27.^[1]
Total customer franchise surpassed 13 million as of Q2 FY26, with approximately 1.8 million customers added in Q2 FY26 alone.^[5]

Key operating metrics

Disbursements hit ₹17,309 mn in Q1 FY27, up 128% YoY - the highest-ever quarterly level, after ₹11,025 mn (+41% YoY) in Q2 FY26 and ₹10,574 mn (+7% YoY) in Q3 FY26.^[1]
NIM was 6.6% in Q1 FY27 and 6.83% in Q4 FY26 (up 43 bps YoY).^[1]
Cost of borrowing declined to 10.1% in Q1 FY27 (−64 bps YoY), from 10.22% in Q4 FY26 and 10.3% in Q3 FY26; versus 13% in FY21.^[1]
CRAR stood at 33.1% and debt-to-equity at 2.61x as of Q1 FY27.^[1]
ROA was 3.6% and ROE was 13.4% in Q1 FY27.^[1]

Geographic concentration

Top five states - Delhi (27.1%), Maharashtra (19.4%), UP (14.9%), Haryana (13.0%), Rajasthan (12.6%) - accounted for ~87% of AUM as of Q1 FY27.^[1]
Management targets each state contributing less than 20% of the overall book over the next three years (stated Q3 FY26).^[7]

Technology and AI

A Gen-AI multilingual calling system on NVIDIA chips automated approximately 350,000 calls per day in Q2 FY26 for EMI reminders and collections.^[5]
Headcount fell 2% YoY to 3,018 in Q1 FY27, and 3% YoY to 3,076 in FY26, alongside network expansion.^[1]
Committed approximately INR 133.93 million to an on-premises data centre in India (FY25).^[4]

Funding and capital actions

Raised ₹294.9 crore via a public NCD issue and ₹124.47 crore through a private placement NCD as of October 2026, plus ₹177 crore in commercial paper in H1 FY27.^[8]
A public NCD shelf of ₹900 crore (Tranche 1 of ₹300 crore) opened August 7, 2026.^[1]
FY26 annual report seeks shareholder approval to raise the borrowing limit, and the limit on charges over assets, to ₹9,000 crore.^[2]
Maiden ECB of USD 15 mn completed in Q4 FY26, with AA/Stable/A1+ ratings from IVR and BWR.^[6]
USD 50 million FCCB issued (hedged); USD 48m outstanding convertible at Rs 45.74 per FY25 annual report; ~$44 mn conversion was expected as of Q1 FY27.^[4][1]

Strategic targets and governance

Management reaffirmed a 3-year ambition (to FY29) to approximately double AUM, income and PAT, targeting AUM CAGR of ~25 - 30%.^[1]
Three new product launches and AI-driven new-customer acquisition calling planned to go live towards end of Q3 FY27 (December 2026).^[1]
SBI MSME/SME co-lending under new RBI guidelines is treated as optionality, not in the base case, as of Q1 FY27.^[1]
Deputy MD Santanu Agarwal proposed for re-appointment for 5 years from May 6, 2027 at ₹15 lakh monthly fixed pay (FY26 annual report).^[2]
Final dividend of ₹0.10 per ₹1 share (10%) recommended for FY26.^[2]

Market Cap

₹6,976 Cr

High / Low

₹95 / 30

Stock P/E

28.6

Price / Book

4.0

Book Value

₹20

EPS

₹2.6

No. of Shares

90.95 Cr

ROE

14.3%

Debt / Equity

2.43

Sales

₹944 Cr

Net Profit

₹237 Cr

Promoter holding

46.5%

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