CreditAccess Grameen Reports Strong Q2 Performance

Revenue from operations reached Rs 1,903.74 crore; Profit after tax stood at Rs 501.57 crore.

Reader Takeaway: Robust year-over-year profit expansion driven by core operations, while the long-term audit transition ensures governance stability.

What just happened

CreditAccess Grameen Limited has released its unaudited financial results for the quarter ended September 30, 2026. The firm recorded a significant jump in profitability, with profit after tax (PAT) surging to Rs 501.57 crore compared to Rs 125.81 crore in the corresponding quarter of the previous year. Revenue also showed healthy growth, moving from Rs 1,508.35 crore in Q2 FY25 to Rs 1,903.74 crore in Q2 FY26.

Governance Update

The Board of Directors has formally initiated a change in its statutory auditing team. M/s Sharp & Tannan, Chartered Accountants, has been appointed as a new Joint Statutory Auditor for a three-year term beginning in FY 2027-28. This move follows the scheduled end of the current engagement with M/s Walker Chandiok & Co LLP, which concludes at the 2027 Annual General Meeting.

Operational Highlights

Operational activity remained consistent with previous periods, specifically regarding employee incentivization and debt security. The company issued 2,58,646 equity shares under its Employee Stock Option Schemes during the quarter. Furthermore, the company maintains a security cover of 1.11 times for its outstanding listed Non-Convertible Debentures, indicating stable collateral health. As of the end of September, resolution plans for 73,313 accounts, representing an exposure of Rs 178.60 crore, have been implemented.

What to track next

Investors should monitor the company's asset quality metrics in coming quarters and the transition process regarding the new audit firm as the FY27-28 start date approaches.