CreditAccess Grameen Ltd. (CREDITACC) AI Stock Analysis

• Market Cap: ₹184.60B
• Dividend Yield: 0.77%
• Average Volume (3M): 10.87K
• Price to Earnings (P/E): 20.2
• Beta (1Y): 1.11
• Revenue Growth: 0.75%
• EPS Growth: -90.03%
• Country: IN
• Employees: 19,395
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 15.68
• Shares Outstanding: 160,146,730
• 10 Day Avg. Volume: 9,672
• 30 Day Avg. Volume: 10,870
• PEG Ratio: -0.46
• Price to Book (P/B): 2.22
• Price to Sales (P/S): 2.79
• P/FCF Ratio: 14.07
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,600.00
• Price Target Upside: 20.06% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 47.85
• Revenue Forecast (FY): ₹41.43B

• Rating: 56 Neutral
• Price Target: ₹1,204.00 ▼(-9.66% Downside)
• Action: Reiterated Date: 01/23/26
• Date: Action: Reiterated 01/23/26

The score is held back primarily by weak cash flow and high leverage alongside recent revenue decline (financial performance), partially offset by strong technical uptrend signals. Valuation is a notable headwind due to the high P/E and low dividend yield.

Positive Factors

Group-based lending model

The joint-liability/group lending structure promotes higher collection discipline, repeat borrowing and lower customer acquisition costs. Over the medium term this supports portfolio stability, predictable cashflows and durable customer relationships across rural and semi-urban markets.

Strong operating margins

Sustained strong EBIT/EBITDA margins point to operational efficiency and disciplined cost control. Margin resilience provides earnings durability through revenue cycles, funds provisioning needs and reinvestment for branch or field-force productivity improvements.

Improving equity position

An improving equity ratio and moderate ROE indicate a strengthening capital base, which enhances shock absorption and regulatory headroom. This reduces the need for immediate dilutive capital and supports medium-term growth without excessive reliance on new debt.

Negative Factors

High leverage

Elevated debt relative to equity increases interest expense sensitivity and constrains strategic flexibility. In a rising-rate or funding-stress environment, high leverage raises refinancing and covenant risks and could force costly deleveraging or capital raises.

Weak cash generation

Persistent negative free cash flow and weak OCF-to-net-income mean reported profits do not reliably convert to cash. This forces dependence on external funding, heightens liquidity and refinancing risk, and limits capacity to self-fund growth or absorb higher credit costs.

Fluctuating and recently declining revenue

Revenue volatility and recent declines reduce scale benefits and make long-term margin targets harder to sustain. Persistent top-line weakness can increase unit costs, pressure margins and provisioning capacity, slowing growth and stressing return metrics.

CreditAccess Grameen Ltd. Business Overview & Revenue Model

Company Description

CreditAccess Grameen Limited, a non-banking financial company, provides micro finance services for women from poor and low income households in India. The company offers microcredit loans for income generation, home improvement, emergency, family welfare, and Grameen Suraksha, as well as life insurance and national pension scheme. It also provides retail finance loans, such as Grameen Unnati, Grameen Udyog, Grameen Savaari, Grameen Vikas, Grameen Suvidha, and Grameen Swarna. As of March 31, 2022, the company operated 1,635 branches. The company was formerly known as Grameen Koota Financial Services Private Limited and changed its name to CreditAccess Grameen Limited in January 2018. CreditAccess Grameen Limited was incorporated in 1991 and is headquartered in Bengaluru, India. CreditAccess Grameen Limited is a subsidiary of CreditAccess India NV.

How the Company Makes Money

CreditAccess Grameen makes money primarily through interest income and fees earned from lending activities. Its core revenue stream is interest charged on microfinance loans (typically small-ticket, short-to-medium tenure loans) disbursed to customers, often using a joint-liability/group lending structure that supports collections and repeat borrowing. In addition to interest income, the company can earn fee-based income such as processing or service-related charges associated with originating and servicing loans, subject to applicable regulations and disclosures. Like other lenders, profitability depends on the spread between (1) yield earned on its loan portfolio and (2) its cost of funds (borrowings and other funding sources), net of credit costs. Key factors that contribute to earnings include loan growth (new disbursements and customer retention), collection efficiency and asset quality (which affect provisions and write-offs), operating efficiency (branch/field-force productivity and cost-to-income), and the company’s ability to access diversified, lower-cost funding (e.g., bank borrowings, market instruments, or other permitted funding channels). Specific partnerships are not available in the prompt; if required, additional public filings would be needed to identify material alliances or co-lending arrangements.

CreditAccess Grameen Ltd. Financial Statement Overview

Summary

Mixed fundamentals: profitability and operating margins are healthy, but revenue has recently declined, leverage is high, and cash generation is weak with negative free cash flow in most years.

Income Statement

CreditAccess Grameen Ltd. has demonstrated fluctuating revenue growth over the years, with recent declines in total revenue from 2024 to 2025. Gross and net profit margins have been positive, reflecting profitability despite revenue drops. The EBIT and EBITDA margins are strong, indicating efficient operational performance. However, the decline in revenue growth is a concern for long-term growth prospects.

Balance Sheet

The company's balance sheet shows a high debt-to-equity ratio, indicating potential leverage risks. However, the equity ratio has shown improvement, suggesting strengthening equity position. Return on equity is moderate, reflecting reasonable returns to shareholders but could be improved. The high level of total debt remains a key risk factor.

Cash Flow

Cash flow analysis reveals significant challenges, with negative free cash flow in most years. The operating cash flow to net income ratio is poor, indicating issues with cash generation relative to net income. The company's ability to maintain positive cash flow from operations is critical for future financial stability and requires attention.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	55.48B	55.39B	49.05B	32.97B	25.47B	22.87B
Gross Profit	33.31B	31.51B	28.03B	17.87B	13.58B	11.69B
EBITDA	9.54B	9.69B	22.08B	13.14B	7.15B	3.75B
Net Income	1.34B	5.31B	14.46B	8.26B	3.53B	1.34B
Balance Sheet
Total Assets	276.79B	278.02B	288.46B	218.58B	173.95B	150.59B
Cash, Cash Equivalents and Short-Term Investments	9.37B	22.92B	26.42B	20.41B	16.80B	24.67B
Total Debt	201.03B	205.53B	218.41B	163.12B	130.06B	110.17B
Total Liabilities	205.15B	208.46B	222.76B	167.51B	133.19B	112.63B
Stockholders Equity	71.64B	69.56B	65.70B	51.07B	41.67B	36.92B
Cash Flow
Free Cash Flow	3.09B	10.99B	-47.54B	-33.07B	-27.42B	-4.69B
Operating Cash Flow	3.16B	11.25B	-47.34B	-32.90B	-27.14B	-4.55B
Investing Cash Flow	-3.00B	7.08B	-9.94B	-3.14B	-329.60M	235.30M
Financing Cash Flow	-5.24B	-16.69B	54.94B	33.65B	19.68B	21.46B

CreditAccess Grameen Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1332.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CREDITACC, the sentiment is Negative. The current price of 1332.7 is above the 20-day moving average (MA) of 1230.44, above the 50-day MA of 1274.55, and above the 200-day MA of 1298.75, indicating a bearish trend. The MACD of -30.81 indicates Positive momentum. The RSI at 42.81 is Neutral, neither overbought nor oversold. The STOCH value of 40.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CREDITACC.

CreditAccess Grameen Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
IIFL	64 Neutral	₹198.82B	13.98	―	―	8.01%	-20.87%
FIVESTAR	59 Neutral	₹104.70B	14.49	―	0.36%	20.44%	13.10%
CREDITACC	56 Neutral	₹184.60B	20.20	―	0.77%	0.75%	-90.03%
CGCL	52 Neutral	₹161.79B	17.22	―	0.11%	43.41%	109.52%
MANAPPURAM	49 Neutral	₹223.63B	27.09	―	0.80%	-3.68%	-80.12%
SPANDANA	48 Neutral	₹18.37B	-5.67	―	―	-45.13%	-1646.01%

CreditAccess Grameen Ltd. Corporate Events

CreditAccess Grameen to Hold One-on-One Investor Meet with WhiteOak Capital

CreditAccess Grameen Limited has informed the stock exchanges that it will hold a one-to-one investor meeting with WhiteOak Capital Management on March 18, 2026, in a physical format. The scheduled interaction underscores the company’s ongoing engagement with institutional investors, which can influence market perceptions, support transparency, and potentially impact its valuation and access to capital over time.

CreditAccess Grameen Secures USD 75 Million Syndicated Social Loan to Bolster Inclusive Growth

CreditAccess Grameen Limited has raised a USD 75 million syndicated social loan, structured as external commercial borrowing under the Reserve Bank of India’s automatic route, with HSBC acting as sole mandated lead arranger and bookrunner and participation from several international banks. The deal extends the company’s record of innovative offshore funding, bringing total foreign commitments in FY 2025-26 to over USD 300 million and lifting the share of foreign borrowing to 24% over five years, while supporting its goal of diversified, lower-cost funding.

Proceeds will be deployed under the firm’s Social Loan Framework, aligned with the 2023 Social Loan Principles and validated by Sustainalytics, to back eligible social projects that advance inclusive and resilient community development. Management highlighted that the 3–5 year foreign currency borrowings improve asset-liability management and liquidity, enabling more affordable microfinance offerings and underscoring lender confidence in both CreditAccess Grameen’s asset quality and the resilience of India’s NBFC-MFI sector.

CreditAccess Grameen Schedules March 2026 Investor Meetings With Key Institutions

CreditAccess Grameen Limited has announced a schedule of investor meetings in March 2026 with several prominent institutional investors and intermediaries. The company will participate in the Investec India Promoter & Founder Conference 2026 and hold a series of one-to-one physical meetings with firms including Ashmore Investments, ICICI Securities, Yes Securities, and HSBC Securities & Capital Markets, underscoring its efforts to maintain active engagement with the investment community and enhance market visibility.

These interactions are likely aimed at providing updates on business performance, strategy, and outlook to key stakeholders, which can influence investor perception and liquidity in the company’s stock. By engaging diverse global and domestic institutions in a concentrated time frame, CreditAccess Grameen reinforces its capital markets profile and supports transparent communication with current and potential shareholders.

CreditAccess Grameen Promoter Weighs New Investors to Enable Exit for Long-Term Backers

CreditAccess Grameen Ltd. disclosed that its promoter, CreditAccess India B.V., is exploring the possibility of bringing in new investors to offer an exit opportunity to its long-term backers, as reported in a recent Economic Times article. While no transaction has been finalized, the company indicated it will issue further disclosures to stock exchanges if any material developments arise, signaling a potential shift in its promoter shareholding structure that could be closely watched by investors and regulators.

The planned exploration of new investors by the promoter may influence the company’s ownership profile and market perception, though operational control and strategy remain unchanged for now. Stakeholders are advised that any significant changes will be communicated in line with regulatory disclosure requirements, underscoring the firm’s commitment to compliance and transparency amid possible promoter-level stake realignments.

CreditAccess Grameen Allots 10,925 ESOP Shares to Employees

CreditAccess Grameen Limited has allotted 10,925 equity shares of Rs 10 each to nine employees who exercised their stock options under the company’s 2011 Employee Stock Option Plan, following approval by a committee of the board on 5 February 2026. The newly issued ESOP shares will rank pari passu with the existing equity shares in all respects, slightly increasing the company’s equity base and further aligning employee interests with shareholder value over the long term.

CreditAccess Grameen Rejects Speculation Over Promoter Stake Sale to Axis Bank

CreditAccess Grameen Limited has denied media speculation that Axis Bank is in the lead to buy out the company, stating that while its promoters periodically evaluate liquidity options, no decisions have been taken regarding any sale of promoter shares or any investment by the bank named in the report. The company added that it is unaware of any undisclosed information that could explain movements in its share price, views the referenced news article as baseless and speculative with no impact on its business, reports no related regulatory or legal proceedings, and reaffirms its commitment to regulatory compliance and timely disclosure of any material developments to the stock exchanges.

CreditAccess Grameen Posts Q3 FY26 Earnings Call Audio on Website

CreditAccess Grameen Limited has announced that the audio recording of its Q3 FY26 results conference call, held on January 20, 2026, has been made available on the company’s website for investors and stakeholders. The disclosure, made in compliance with SEBI’s listing and disclosure regulations, underscores the company’s ongoing efforts to enhance transparency and access to financial information for market participants.

CreditAccess Grameen Issues Provisional Interim Business Update for December 2025

CreditAccess Grameen Limited has issued an interim business update for December 2025, in line with regulatory disclosure requirements under SEBI listing norms, and shared this information with the stock exchanges for investor awareness and record-keeping. The update contains provisional operational figures that remain subject to limited review by joint statutory auditors and subsequent approval by the company’s Audit Committee and Board, underscoring that key performance data for the period are preliminary and may be refined before final reporting to stakeholders.

CreditAccess Grameen Wins Appeal; ₹46 Crore Tax Demand Scrapped

CreditAccess Grameen Limited has announced that the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, has ruled in its favour in relation to an income tax demand of ₹46.03 crore for the assessment year 2022–23, resulting in the complete deletion of the demand order dated March 18, 2024. The favourable order removes a sizeable contingent liability from the company’s books, easing a potential financial overhang for shareholders and signaling regulatory clarity on its tax position, which may support investor confidence and the company’s ongoing growth plans in the microfinance sector.