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CreditAccess Grameen

CREDITACC NSE
₹1,073.00 +14.20 (+1.34%)
P/E
10.84
View as Markdown
MCP
Close 4 Nov 2026 ₹1,073.00 −264.50 −19.8% 1Y
Start ₹1,337.50

Key Fundamentals

SmallcapFinanceFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

Debt to Equity
2.82
EPS (TTM)
₹98.99
Book Value
₹555.52
Market Cap
—
P/E (TTM)
10.84
P/B
1.93
ROE
10.50%
Dividend Yield
0.94%
52W High
₹1,634.00
52W Low
₹993.90
Day Range
₹1,053.00 – ₹1,082.30
Volume
2,89,007
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Microfinance › Microfinance Institutions

CreditAccess Grameen peer comparison
CreditAccess Grameen (this company)
₹1,073.0010.84₹17,011 Cr1.930.94%10.50%—₹6,775 Cr₹1,587 Cr
Satin Creditcare
₹256.696.92₹2,743 Cr0.890.00%12.30%—₹3,209 Cr₹410 Cr
Muthoot Microfin
₹153.0710.64₹2,583 Cr0.910.00%6.22%—₹2,480 Cr₹245 Cr
Fusion Finance
₹153.5414.71₹2,454 Cr1.010.00%0.68%—₹1,699 Cr₹168 Cr
Spandana Sphoorty Financial
₹182.49—₹1,659 Cr0.810.00%−29.40%—₹1,007 Cr−₹327 Cr
Median 5 companies₹182.4910.74₹2,583 Cr0.910.00%6.22%—₹2,480 Cr₹245 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 94/100

Category scores

Quality
50
Average
Returns, margins, earnings quality 22% weight
Valuation
58
Good
Cheap vs sector & own history 24% weight
Growth
61
Good
Sales & profit trajectory 9% weight
Financial Health
42
Weak
Solvency, leverage, coverage 9% weight
Momentum
3
Poor
Trend strength, vol-adjusted 12% weight
Ownership
78
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company's median sales growth is 31.0% of last 10 years

Weaknesses

4
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -2.38%
  • Company has a low return on equity of 13.8% over last 3 years.
  • Dividend payout has been low at 3.67% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1054
OscillatorsNeutral252
Moving AveragesStrong Bearish802

Key readings

RSI (14)
35.89
Neutral
MACD (12,26,9)
−75.49
Bullish
SMA (50)
1,277.66
Bearish
SMA (200)
1,332.28
Bearish

As of

Analyst Rating

Based on 14 analysts
BUY100%

14 of 14 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
14
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+29.30%
5Y+24.47%
3Y+20.22%
1Y+5.34%
TTM+17.65%

Net profit

Net profit growth by window
10Y+25.08%
5Y+40.52%
3Y−1.98%
1Y+46.52%
TTMTiny base

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹708 Cr
Mar 2018₹871 Cr
Mar 2019₹1,282 Cr
Mar 2020₹1,683 Cr
Mar 2021₹2,028 Cr
Mar 2022₹2,669 Cr
Mar 2023₹3,487 Cr
Mar 2024₹5,167 Cr
Mar 2025₹5,752 Cr
Mar 2026₹6,059 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹80.00 Cr
Mar 2018₹212 Cr
Mar 2019₹322 Cr
Mar 2020₹328 Cr
Mar 2021₹142 Cr
Mar 2022₹353 Cr
Mar 2023₹826 Cr
Mar 2024₹1,446 Cr
Mar 2025₹531 Cr
Mar 2026₹778 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹119.58 +145.9% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

CreditAccess Grameen Ltd trades at ₹1,038.30 with a market cap of ₹16,756 crore and a P/E of 10.49x as of 2026-11-02. The microfinance lender has delivered strong long-term compounded sales growth of 29% over 10 years but faces near-term profit headwinds with a 3-year compounded profit decline of -2%, while its stock has returned -18% over the past year.

Bull Case 7
  • Compounded sales growth of 29% over 10 years demonstrates a sustained ability to scale the loan book in the microfinance segment
  • Median sales growth of 31.0% over the last 10 years reflects consistent revenue compounding well above the broader NBFC sector
  • TTM profit growth of 1,087% signals a sharp recovery in earnings from a depressed base, indicating normalisation of credit costs
  • P/E of 10.49x as of 2026-11-02 is modest for a financial services company with a 10-year profit CAGR of 25%, suggesting the stock prices in significant pessimism
  • P/B ratio of 1.87x is relatively undemanding for a lender that has averaged 14% ROE over the last 5 years
  • 5-year compounded profit growth of 40% highlights the earnings power of the franchise over a medium-term horizon despite recent weakness
  • TTM sales growth of 18% shows the company continues to expand its revenue base even in a period of sector-wide stress
Bear Case 8
  • 3-year compounded profit growth of -2% indicates that despite revenue expansion, profitability has deteriorated over the recent cycle
  • ROE has declined from a 5-year average of 14% to 9.92% as of 2026-11-02, pointing to weakening capital efficiency
  • ROCE stands at just 9.35%, reflecting pressure on overall return generation relative to the capital deployed
  • Promoter holding decreased by 2.38% in the last quarter, which may signal reduced promoter confidence or dilution concerns
  • Dividend payout has been just 3.67% of profits over the last 3 years and the current yield is only 0.98%, offering minimal income return to shareholders
  • The stock has delivered a -18% return over the past 1 year and a -10% CAGR over 3 years, reflecting sustained underperformance
  • Last year ROE of 11% is below the 3-year average of 14%, suggesting the downward trend in profitability ratios has not yet reversed
  • 5-year compounded sales growth of 24% has moderated to 18% on a TTM basis, indicating a potential slowdown in the loan book expansion trajectory

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: CreditAccess Grameen delivered a standout Q2 FY27 with record profit of ₹502 crore (up ~300% YoY), sharply improved asset quality (GNPA down to 1.79% from 4.06%), and raised full-year profitability guidance significantly. The company is successfully diversifying into retail finance and maintaining strong international funding access. The profitability turnaround is clearly underway, but the next two quarters will test whether asset quality holds up under drought pressure.

Headwinds 4
  • Drought risk in key state Oct 27

    Drought conditions in CreditAccess Grameen's second-largest state could pressure asset quality over coming quarters, with credit costs expected at 3.8% for FY27 and FY28 versus 3.38% annualized in H1 FY27.

  • Elevated credit costs persist Oct 27

    Credit costs remained at 3.38% annualized in H1 FY27, with 45 bps of macro buffers created and an additional ₹880 million provision buffer (~30 bps of AUM) set aside in Q2 for drought-related risks.

  • Promoter strategic exit overhang Oct 23

    Management indicated the promoter is exploring a strategic exit, with changes expected at the promoter level, adding uncertainty around ownership structure.

Positives 6
  • Q2 profit surges 299% YoY Oct 22

    Net profit jumped to ₹502 crore in Q2 FY27 (highest-ever quarterly PAT), beating estimates by 2-4%, with H1 FY27 PAT of ₹995 crore already exceeding full FY26 PAT of ₹778 crore.

  • Sharp asset quality improvement Oct 22

    Gross NPA fell to 1.79% from 4.06% a year ago, net NPA stood at 0.59%, and credit costs declined 43.2% YoY to ₹299 crore in Q2 FY27 with collection efficiency at 99.71%.

  • FY27 guidance raised substantially Oct 22

    Management raised FY27 ROA guidance to 5.2-5.8% (from 4.0-4.8%) and ROE to 21-24% (from 16-20%), with NIM projected at 14.4-14.7% and Nomura's FY27 net profit estimate raised 14%.

Neutral 2
  • Updated FY27 financial targets Oct 22

    CreditAccess Grameen formalized FY27 guidance with NIM at 14.4-14.7%, ROE at 21-24%, AUM growth at 20-25%, and credit cost guidance retained at 3.0-4.0%.

  • Diversified fundraising activity Oct 12

    Beyond the ECB, the company raised ₹940 crore through NCD placements in FY27, including ₹300 crore in September 2026 and ₹425 crore in June 2026, with foreign borrowings at 24% of liabilities.

Quarterly Results

₹ Cr
CREDITACC quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue
1,247
1,292
1,457
1,512
1,453
1,380
1,407
1,463
1,508
1,490
1,597
1,783
1,904
Expenses
342
365
434
453
700
1,020
864
885
845
678
660
558
664
Financing Profit
481
486
542
549
269
−115
65
96
184
353
459
675
687
Fin. Margin %
39%
38%
37%
36%
18%
−8%
5%
7%
12%
24%
29%
38%
36%
Other Income
1
3
2
1
1
2
1
1
1
1
1
1
1
Interest
424
442
482
510
485
475
478
482
480
459
478
550
553
Depreciation
12
13
14
14
17
16
15
15
16
16
16
16
17
PBT
469
476
529
535
252
−129
51
81
169
338
445
660
671
Tax %
26%
26%
25%
26%
26%
−23%
8%
26%
26%
25%
24%
25%
25%
Net Profit
349
353
397
398
186
−100
47
60
126
252
340
493
502
EPS (₹)
21.95
22.2
24.91
24.95
11.67
−6.24
2.96
3.77
7.87
15.75
21.2
30.79
31.25
Gross NPA %
0.77%
0.97%
1.18%
1.46%
2.44%
3.99%
4.76%
4.7%
3.65%
4.04%
3.17%
2.18%
—
Net NPA %
0.24%
0.29%
0.35%
0.45%
0.76%
1.28%
1.73%
1.78%
1.26%
1.36%
1.12%
0.76%
—

Profit & Loss

₹ Cr
CREDITACC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
278
464
708
871
1,282
1,683
2,028
2,669
3,487
5,167
5,752
6,059
6,775
Expenses
76
126
264
184
361
639
1,069
1,235
1,179
1,444
3,030
3,061
2,560
Financing Profit
74
130
128
332
504
470
214
447
1,092
1,984
767
1,093
2,175
Fin. Margin %
26%
28%
18%
38%
39%
28%
11%
17%
31%
38%
13%
18%
32%
Other Income
3
2
1
1
1
1
3
81
64
6
4
4
4
Interest
129
208
317
354
417
575
745
987
1,216
1,738
1,955
1,905
2,040
Depreciation
2
3
4
5
8
20
23
47
50
51
62
63
65
PBT
75
130
124
328
498
451
194
481
1,105
1,939
709
1,033
2,114
Tax %
35%
36%
35%
35%
35%
27%
27%
27%
25%
25%
25%
25%
—
Net Profit
49
83
80
212
322
328
142
353
826
1,446
531
778
1,587
EPS (₹)
6.68
11.41
9.37
16.54
22.41
22.75
9.15
22.65
52.87
90.72
33.27
48.54
98.99
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
11%
0%
0%
—

Balance Sheet

₹ Cr
CREDITACC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
73
73
86
128
144
144
156
156
159
159
160
160
161
Reserves
303
387
605
1,309
2,222
2,525
3,479
4,011
4,948
6,411
6,796
7,682
8,758
Borrowing
1,291
2,233
2,668
3,623
4,867
7,823
8,781
12,921
16,312
21,841
20,446
23,641
25,128
Other Liabilities
60
115
205
53
126
170
281
394
439
460
401
446
402
Total Liabilities
1,727
2,808
3,564
5,114
7,357
10,662
12,697
17,482
21,858
28,871
27,802
31,930
34,450
Fixed Assets
4
11
12
16
25
87
101
629
599
609
604
588
578
CWIP
2
0
3
1
2
3
1
3
4
5
4
0
0
Investments
0
0
0
0
0
661
663
1
455
1,439
893
1,075
1,926
Other Assets
1,720
2,796
3,549
5,096
7,330
9,911
11,932
16,849
20,801
26,818
26,302
30,267
31,946
Total Assets
1,727
2,808
3,564
5,114
7,357
10,662
12,697
17,482
21,858
28,871
27,802
31,930
34,450

Cash Flow

₹ Cr
CREDITACC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
−931
−425
−1,726
−1,378
−2,302
−364
−1,969
−3,290
−4,734
1,125
−2,770
Investing
—
−4
−5
54
−7
−636
−32
−189
−314
−994
708
−101
Financing
—
934
579
1,470
1,829
2,929
1,706
1,684
3,365
5,494
−1,669
2,751
Net Cash Flow
—
−1
149
−202
444
−9
1,310
−473
−239
−234
164
−120
Free Cash Flow
—
−939
−433
−1,731
−1,396
−2,323
−376
−1,992
−3,307
−4,754
1,092
−2,788

Ratios

CREDITACC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
17%
20%
14%
20%
17%
13%
5%
9%
18%
25%
8%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view CreditAccess Grameen insights

57 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 63.83%
  • FIIs 14.73%
  • DIIs 13.77%
  • Public 6.09%
  • Others 1.59%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about CreditAccess Grameen

What does CreditAccess Grameen Ltd do?
CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups.
Where is CreditAccess Grameen Ltd (CREDITACC) listed?
CreditAccess Grameen Ltd trades as CREDITACC on the NSE and under code 541770 on the BSE.
Which sector does CreditAccess Grameen Ltd belong to?
CreditAccess Grameen Ltd is classified under the Financial Services sector, in the Microfinance industry.
What is the PE ratio of CreditAccess Grameen Ltd?
CreditAccess Grameen Ltd trades at a PE ratio of 10.84 as of 4 Nov 2026, on earnings per share of ₹98.99, against a book value of ₹555.52 per share.
What is the 52-week high and low of CreditAccess Grameen Ltd?
Over the last 52 weeks CreditAccess Grameen Ltd has traded between ₹993.9 and ₹1,634 as of 4 Nov 2026.
Does CreditAccess Grameen Ltd pay dividends?
CreditAccess Grameen Ltd has a dividend yield of 0.94%.
What is the Return on Equity (ROE) of CreditAccess Grameen Ltd?
CreditAccess Grameen Ltd reported a return on equity of 10.50%. Its debt-to-equity ratio is 2.82.

Company Information

CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certain other financial products and services to the members.

Website creditaccessgrameen.in
CEO Mr. Ganesh Narayanan
Employees 20,970
Listed 23 Aug 2018
Face Value ₹10

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