CreditAccess Grameen Ltd(CREDITACC)

NSE: CREDITACCBSE: 541770

₹ 1,029.75-5.50%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 16,529 crWebsite: www.creditaccessgrameen.inUpdated: 23 Oct 2026

About

CreditAccess Grameen Ltd is an India-focused microfinance institution that lends to low-income women borrowers through joint-liability group loans and is expanding into individual retail finance products for graduating customers. It describes itself as India's largest NBFC-MFI, with a 17.6% share of NBFC-MFI GLP and 6.9% of the overall microfinance industry as of March 31, 2025. As of Q1 FY27, its AUM stood at INR 30,319 Crore, with a network of 2,276 branches across 457 districts. It reported FY26 revenue of INR 6,058.92 Crore.^[1][2][3]

Business and loan book mix

The group reports a single segment: microfinance in India (FY25).^[2]
Retail Finance AUM reached INR 6,258 Crore (20.6% of total AUM) in Q1 FY27, up from 18.1% in Q4 FY26 and 5.9% a year earlier, driven by individual business loans (91% of the retail finance book).^[1]
Individual business loan and other lifecycle loan AUM within retail finance reached INR 4,816 Crore as of Q4 FY26; retail finance customers average 7.7-year vintage and a 732 credit score.^[4]
Group loans range from ₹1,000 emergency loans to ₹1,75,000 income-generation loans (FY25); three-year loans rose to 42% of the group loan book from 29% two years earlier.^[2]
Grameen Unnati, its higher-ticket unsecured business loan line, crossed ₹1,000 crore of AUM (FY25).^[2]

Market position

As of March 31, 2025, it held a 6.9% share of the overall microfinance industry and a 17.6% share of NBFC-MFI GLP.^[2]
Market share in its top four states as of FY25: 23.0% in Karnataka, 19.3% in Maharashtra, 10.5% in Tamil Nadu and 9.8% in Madhya Pradesh.^[2]

Branch network and reach

The branch network totalled 2,276 branches across 457 districts as of Q1 FY27, up 7.7% YoY after 42 new branches were opened in the quarter.^[1]
Employee headcount grew 3% YoY to 21,981 in Q1 FY27; attrition moderated to 20.6% from 25.8% in Q1 FY26.^[1]
It operates within a 30-kilometre radius of each branch under a contiguous district-based expansion strategy; all operations are in India (FY25).^[2]

Customers

99.97% of borrowers are women from low-income households, and 86% of the borrower base was rural at end-March 2025.^[2]
It added 2.5 lakh new borrowers in Q1 FY27, of which 35% were new-to-credit; total borrower growth was 6.6% YoY as of Q2 FY27.^[1]
Grameen Mahi customer app reached 15.3 lakh active users (34.5% of borrowers) in Q1 FY27, adding 4 lakh users in the quarter.^[1]
Digital collections rose to 24.2% of total collections in Q1 FY27, up from 16.3% in FY26 and 14% in Q4 FY25.^[1]

Key operating numbers

AUM grew 16.4% YoY and 2.5% QoQ to INR 30,319 Crore in Q1 FY27; disbursements of INR 6,107 Crore were up 11.9% YoY.^[1]
AUM reached INR 30,946 Crore in Q2 FY27, up 19.5% YoY, with 2.3 lakh new borrowers added in the quarter.^[5]
NIM was 14.4% in Q1 FY27 vs 12.8% in Q1 FY26; weighted average cost of borrowings was 9.2% vs 9.7%.^[1]
CRAR was 24.9% (Tier 1: 24.2%) in Q1 FY27.^[1]
FY26 disbursements were INR 24,859 Crore, up 24.1% YoY from INR 20,037 Crore in FY25.^[4]
Net worth grew from INR 2,734 Crore in FY20 to INR 8,347 Crore in Q1 FY27 at a 20% CAGR; 86% of the increase came from internal accruals.^[1]

Asset quality

GNPA improved to 2.18% in Q1 FY27 from 3.17% in Q4 FY26 and 4.70% in Q1 FY26; NNPA was 0.76% and PAR 90+ 1.46%.^[1]
PAR 90+ improved to 1.1% by end of Q2 FY27, with PAR 0+ at 2.1% and PAR 30+ at 1.6%.^[5]
Credit cost (non-annualised) was 0.72% in Q1 FY27, INR 212.5 Crore, down from a peak of 2.07% in Q2 FY26.^[1]
AUM share of group-loan borrowers with more than three lenders fell from 25.3% in August 2024 to 3.3% in March 2026; unique-borrower share rose from 26.6% to 46.1%.^[4]

Expansion plans

FY27 AUM growth guidance is 20 - 25%; the company targets INR 50,000 Crore AUM by calendar year 2028 without raising equity capital.^[1]
Mortgage sourcing is targeted at 60% internal and 40% open market; the mortgage book reaches breakeven at about INR 1,000 Crore AUM.^[1]
New customer disbursements are targeted at 30 - 40% of total disbursements in FY27, up from about 20% in FY26.^[4]
Project Shakti sets a 10-year target of 20 - 25% AUM CAGR with target ROA of 4.0 - 4.5% and ROE of 18 - 20% by FY36.^[4]

Recent developments

On 12 Oct 2026 it announced raising USD 175 million through a syndicated social loan, its fifth ECB transaction in five years, taking total ECB mobilised to USD 640 million.^[6]

Market Cap

₹16,529 Cr

High / Low

₹1,634 / 1,017

Stock P/E

14.5

Price / Book

2.2

Book Value

₹490

EPS

₹48.5

No. of Shares

16.02 Cr

ROE

10.5%

Debt / Equity

3.01

Sales

₹6,059 Cr

Net Profit

₹778 Cr

Promoter holding

66.2%

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