CreditAccess Grameen reported a 19.5% YoY rise in assets under management to ₹30,946 crore for Q2FY27, with disbursements climbing 19.4% YoY to ₹6,355 crore.

The NBFC’s interim business update highlights balanced momentum in a seasonally weaker quarter, supported by strong traction in secured books and two-wheeler financing.

Key financial highlights

The company's latest operational update reflects broad-based growth across portfolio size, disbursement activity, and asset quality. The following table summarises the key metrics reported:

Asset quality and portfolio health

Asset quality showed significant improvement, with the portfolio at risk for loans overdue beyond 90 days (PAR 90+) standing at 1.1%, down from 1.5% in Jun-26. This metric is a key indicator of credit health in the microfinance segment, reflecting the proportion of the loan book with repayments delayed beyond 90 days.

The company noted that PAR buckets have reached their lowest levels over the past 10 quarters. While there was a minor increase in monthly PAR accretion rate due to excess rainfall and flooding in Bihar, Uttar Pradesh, Chhattisgarh, and Madhya Pradesh, as well as seasonal festivities, the H1FY27 performance remains within the guided range. Cross-bucket collection efficiency (X-Bucket CE) remained strong at 99.71% in Sep-26.

Regional asset quality trends

The improvement in asset quality was visible across major operating states, although some regions like Madhya Pradesh saw slight pressure on PAR 0+ metrics due to local disruptions.

What the numbers show

The data reveals a divergence between overall portfolio growth and specific product traction. While total AUM grew 19.5% YoY, the RF (Rural Finance) share surged from 11% in Sep-25 to 23% in Sep-26, indicating a strategic shift or faster growth in this segment compared to the core MFI book. Additionally, the secured book grew 18% QoQ to ₹695 crore, and two-wheeler AUM tripled from ₹20 crore in Q1FY27 to over ₹60 crore in Q2FY27, suggesting successful diversification beyond traditional microfinance lending.

CreditAccess Grameen Limited allotted senior secured non-convertible debentures (NCDs) worth ₹215 crore on October 1, 2026. The allotment was executed on a private placement basis with a fixed coupon rate of 9.15% per annum.

The issue comprises 21,500 debentures with a face value of ₹1,00,000 each. These instruments are rated, listed, redeemable, and transferable. The company’s Executive, Borrowings & Investment Committee approved the allotment during its meeting held on the same date.

Instrument Details and Tenure

The NCDs have a tenure of 24 months from the deemed date of allotment. Interest is payable quarterly, while the principal amount will be redeemed on the final redemption date. The securities are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.

Security and Default Provisions

The debentures are secured by a first ranking exclusive and continuing charge over certain identified book debts and receivables of the company. This security is held by the debenture trustee. The value of these hypothecated assets must remain at least 1.10 times the outstanding principal and accrued interest throughout the tenure.

In the event of payment default, the company agrees to pay penal charges at 2% per annum over the interest rate. This penalty applies to the outstanding principal from the date of default until it is cured or the debentures are fully redeemed.

Subscription Outcome

The initial offer size was ₹275 crore, which included a green shoe option of up to ₹90 crore. The final allotment of ₹215 crore indicates that the green shoe option was not exercised for the remaining portion, or the subscription was capped at the base issue size plus partial exercise. The entire allotted amount was subscribed on a private placement basis.

No special rights or privileges were attached to these instruments beyond those outlined in the transaction documents. The redemption will occur on a pari passu basis.