CreditAccess Grameen Ltd (CREDITACC) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CreditAccess Grameen is a Bengaluru-based microfinance lender providing group loans to women entrepreneurs in rural and semi-urban India, alongside a fast-growing retail finance book of individual business, mortgage and two-wheeler loans. The Q2 print will speak to whether the guided 50 bps MFI price cut compressed NIM from Q1's 14.4%, and how much the flood-driven PAR accretion uptick in September flowed into credit cost.

CreditAccess Grameen Ltd Q2 Results Date and Time

The board is scheduled to meet on October 22, 2026 to approve the unaudited Q2 and H1 FY27 results. The trading window has been closed from October 1 until 48 hours after the declaration of results.

The Q2 FY27 earnings call is scheduled for October 22, 2026 at 7:00 PM IST, hosted by Motilal Oswal. Participants include Ganesh Narayanan (MD & CEO), Gururaj Rao (COO), Nilesh Dalvi (CFO) and Sahib Sharma (DGM – IR & Strategy).

What to expect from CreditAccess Grameen Ltd's Q2 FY27 results

The quarter's central question is the margin-versus-credit-cost trade-off: management guided a 50 bps MFI price cut by end Q2 FY27, with further 50 bps cuts envisaged in Q3 and Q4, against a Q1 NIM of 14.4% that already sits above the 12.8%-13.2% FY27 guided band. Growth momentum is running well ahead of the industry — September 2026 AUM of Rs. 30,946 Cr was up 19.5% YoY versus an MFIN industry GLP that grew just 1.1% QoQ and fell 6.9% YoY, and Q2 disbursements of Rs. 6,355 Cr rose 19.4% YoY. Asset quality improved into the quarter, with PAR 90+ at 1.1% and PAR 0+ at 2.1% in September versus 1.46% and 2.2% in June, though monthly PAR accretion ticked up to 0.26% in September from 0.21% in August on excess rainfall and flooding in Bihar, Uttar Pradesh, Chhattisgarh and Madhya Pradesh. Management has said it will reassess the 3.0%-4.0% FY27 credit cost guidance 'in another quarter', and that write-off-driven credit cost should decline from Q2 FY27 onwards as normative write-offs resume. The West Asia conflict escalated through the quarter — Brent settled over $100 on September 9 and was still around $107 in mid-October — keeping the ECL external-event cushion live, while the October repo hike of 25 bps to 5.5% tilts the marginal funding-cost outlook firmer against the ~9.3% average cost-of-borrowings guide. The call is likely to cover the NIM bridge from the price cut, the credit-cost guidance decision, and funding execution including the up-to-Rs. 2,000 Cr public NCD issue.

Key Things To Watch

FY27 guidance scorecard vs latest tracking: Where the company stands against each FY27 target heading into the print:

• AUM growth 20.0%-25.0% FY27 — Q1 +16.4% YoY; Sep-26 +19.5% YoY
• NIM 12.8%-13.2% FY27 — Q1 at 14.4%, above range; CFO called the range 'low' vs Q4 NIM
• Credit cost 3.0%-4.0% FY27 — Q1 at 0.72% non-annualized; lowering reassessment flagged
• ROA 4.0%-4.8% and ROE 16.0%-20.0% FY27 — Q1 at 5.9% and 24.4% (TTM 4.0% and 16.0%)
• AUM of INR 50,000 Cr by CY2028 — Sep-26 at Rs. 30,946 Cr; Opex/AUM 4.6%-4.7% by end FY27 vs Q1 at 4.8%

MFI price cuts and the NIM path

• Whether the guided 50 bps MFI price cut was implemented by end Q2 FY27, and its effect on Q2 NIM against the 12.8%-13.2% band
• Status of the envisaged further 50 bps cuts in Q3 FY27 and Q4 FY27, contingent on credit cost trends

Credit cost guidance decision and flood impact

• Whether the 3.0%-4.0% FY27 credit cost range is revised — management said it would reassess 'in another quarter'
• Whether the September monthly PAR accretion uptick of 0.26% (vs 0.21% in August) from flooding in Bihar, UP, Chhattisgarh and MP reversed in October
• Quantification of the guided decline in write-off-driven credit cost 'from Q2 FY27 onwards' as normative write-offs resume

Funding execution and borrower growth

• Timing of the public NCD issue of up to Rs. 2,000 Cr; FY27 NCD mobilization at Rs. 940 Cr to date, plus the USD 175 Mn ECB
• Average cost of borrowings vs the ~9.3% FY27 guide after the October repo hike to 5.5%
• Borrower additions vs the ~1 Lakh/month guidance against a base still down 2.4% YoY at 44.51 Lakh in Q1 FY27

Retail finance scale-up and asset quality

• Retail finance trajectory beyond 23% of AUM (Sep-26) and the secured book at Rs. 695 Cr, +18% QoQ
• Behaviour of the new ECL model as the book scales, and continuation of collection efficiency (97.4% excl. arrears in Q1 FY27, up from 94.5% in Q2 FY26)