CreditAccess Grameen share price today

CreditAccess Grameen Ltd's share price was ₹1,100.80 at the close on 5 November 2026. It has been falling for 2 weeks. That is 16.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,024 and ₹1,593, and at that close it sat 14% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today CreditAccess Grameen Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 9 weeks running.

Over the last 8.2 years the share price moved +171% while the NIFTY 500 moved +120%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 4 September 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Promoters cut their stake for 5 quarters in a row

   From 66.4% to 63.8% of the company by the September 2026 quarter.

3. Foreign funds (FIIs) raised their stake for 3 quarters in a row

   From 11.7% to 14.7% of the company by the September 2026 quarter.

For July to September 2026 (the quarter ended 30 September 2026), CreditAccess Grameen reported total income of ₹1,904 crore, up 26.3% from ₹1,508 crore a year earlier, and a profit of ₹502 crore, up 298.4% from ₹126 crore.

CreditAccess Grameen results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

CreditAccess Grameen's management discussed these results on a call held on 22 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Income and profit in ₹ crore.

CreditAccess Grameen closed at ₹1,100.80 on 5 November 2026, down 18.3% from ₹1,346.90 a year earlier (7 November 2025) and up 72.3% over five years. Its highest weekly close since August 2018 was ₹1,729.10 on 5 January 2024.

CreditAccess Grameen share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

435 weekly closes from 24 August 2018 to 5 November 2026.

5 Nov 2026: CreditAccess Grameen closed at ₹1,100.80, up 7.5% on the week and down 13.2% on the month. 22 Oct 2026: CreditAccess Grameen held its results call for July to September 2026. Management guided: FY27 ROA 5.2-5.8%, ROE 21-24%, NIM 14.4-14.7% and cost-to-income 29-30%.

Earlier

• Results for July to September 2026: Total income up 26.3% and profit up 298.4% on a year earlier.

CreditAccess Grameen paid no dividend in the 12 months to 5 November 2026. The last was a dividend of ₹10 a share, ex-date 26 July 2024.

CreditAccess Grameen dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Not in its latest year. CreditAccess Grameen Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 8 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 22 October 2026, CreditAccess Grameen's management guided: FY27 ROA 5.2-5.8%, ROE 21-24%, NIM 14.4-14.7% and cost-to-income 29-30%.

“Based on our strong H1 FY27 financial performance, we raised our profitability guidance for FY27: ROA of 5.2-5.8% versus 4-4.8% earlier, and ROE of 21-24% versus 16-20% earlier.”Ganesh Narayanan, on the call for July to September 2026

What management guided

• FY27 AUM growth 20-25% and credit cost 3-4%.
• FY28 loan growth 20-25%, with retail faster and microfinance at 10-12%.
• Average borrowing cost expected at 9.2-9.3% through March FY27.
• A further 50-bp lending-rate cut next quarter, conditional on credit cost remaining around 3%.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 22 October 2026.

What is changing at CreditAccess Grameen, from the latest results and calls: credit cycle normalization, npa trough passed, retail finance mix expansion (mfi-to-individual graduation) and tam expansion, 23.5 crore household addressable market.

• Credit Cycle Normalization, NPA Trough Passed. Multi-lender AUM concentration collapsed from 25.3% (Aug 2024) to 3.3% (Mar 2026); GNPA at 3.17% vs 4.76% peak, the structural cause of FY25-FY26 credit losses is eliminated. ⚠ estimate
• Retail Finance Mix Expansion (MFI-to-individual graduation). Retail AUM share: 2.9% (FY25) → 6.8% (April to June 2025) → 11.1% (July to September 2025) → 14.1% (October to December 2025) → 18.1% (FY26 exit), guided 24-25% by FY27 end; 2-3x leverage per customer vs base MFI loan. ⚠ estimate
• TAM Expansion, 23.5 Crore Household Addressable Market. 7% MFI market share by customer count, aiming for 23.5 Cr low-to-middle income households by 2030; 38-43% of new additions are new-to-credit, expanding formal credit access. ⚠ estimate
• Digital Platform Operating Leverage. 11.2 lakh active app users (25% of borrower base); digital collections 22% vs 14% on a year earlier; 30 lakh daily transactions, cost-to-income guided 33-35% FY27 (vs 34.1% October to December 2025 adjusted). ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

₹39 crore provision taken in January to March 2026; management cautioned prolonged fuel/gas disruption could cascade into rural income; ~segment of borrowers with remittance income exposed.

The main risks

• West Asia Geopolitical Disruption, Income Shock to Borrowers: ₹39 crore provision taken in January to March 2026; management cautioned prolonged fuel/gas disruption could cascade into rural income; ~segment of borrowers with remittance income exposed. ✓ fact
• NIM Compression Below 12.8% Floor, Borrowing Cost Reversal: Management reversed borrowing cost trajectory from '10 basis points/qtr decline' (Jan 2026) to 'bottomed at 9.2%, may rise' (May 2026), if borrowing costs rise 30+ basis points, NIM compresses below guided 12.8-13% floor. ✓ fact
• Management Guidance Credibility, Pattern of Contradictions: 3 material guidance contradictions across 4 calls (NIM, borrowing cost trajectory, retail mix goal) with understated characterization of magnitude in each case, systemic pattern, not one-off. ✓ fact
• Retail Mix Goal Over-Ambitious, Execution Risk at 24-25% FY27: Goal raised from 15% FY28 to 24-25% FY27-end, 60% above the prior ceiling, one year earlier, without commensurate explanation; requires ~₹4,000 crore incremental retail AUM in FY27. ✓ fact

Our read after the latest results, written 17 May 2026.

When CreditAccess Grameen reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Central Maharashtra repayment requests and paused sourcing - check whether stress broadens or collections stabilize beyond the affected pockets.

CreditAccess Grameen is on 2 of our India lists: 52 week high & low and Small & mid cap stocks.

CreditAccess Grameen Ltd earned ₹502 Cr of net profit in the Sep 2026 quarter, +298.4% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹778 Cr. Over 7 years profit has grown 13.4% a year on average. That is 26.4% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹126 Cr. 1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹778 Cr (+46.5% on the year before).

Why profit moved: revenue changed +26.3% on a year earlier and the margin moved +18.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +547.8% and revenue +17.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q3. PAT recovery accelerates, accelerated write-offs contradict prior guidance

FY26-Q4. Credit cycle over, clean inflection quarter with ROE 17.8%, guidance credibility tested

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

CreditAccess Grameen Ltd reported ₹1,904 Cr of income in the Sep 2026 quarter, +26.3% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 7 years it has grown 24.8% a year on average. The last full year, FY26, came in at ₹6,059 Cr.

For a bank, revenue is everything it earns: interest on its loans plus fees and other income.

Why this happened. India's microfinance sector serves an estimated 60-70 million households with significant underpenetration in non-southern states. CreditAccess has 44 lakh borrowers, 2,236 branches, and systematic geographic expansion. 38-43% of quarterly additions are new-to-credit, expanding the credit formal economy, not just churning existing borrowers. Long-term structural tailwind with limited near-term catalytic punch.

The last four reported quarters add to ₹6,774 Cr.

FY26 revenue was ₹6,059 Cr, +5.3% on the year before.

Recent pace: the last four quarters grew +17.4% on average, against 24.8% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +17.6%, against +8.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +1,093.2%, against +9.1% a year (accelerating).

FY26-Q3. PAT recovery accelerates, accelerated write-offs contradict prior guidance

FY26-Q4. Credit cycle over, clean inflection quarter with ROE 17.8%, guidance credibility tested

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

CreditAccess Grameen Ltd's net margin was 26.4% in the Sep 2026 quarter, 18.0 percentage points higher than the same quarter a year ago. Across 8 years it has been between 5.3% and 28.0%. The latest quarter is within that range.

Net margin is what the bank keeps from every ₹100 of revenue after every cost, provision for bad loans and tax. It is the clearest single margin we can read for a lender.

Why this happened. Individual loans carry 2-3x higher ticket (Rs 1.7 lakh Unnati vs Rs 25k-35k base MFI), same borrower base, same branch infrastructure. As 6-8% of MFI customers graduate annually to retail products, the revenue-per-customer expands without proportionate cost increase. This is the single most value-creating lever in the business model and is now scaling faster than management's own prior guidance (15% FY28 goal already breached in FY26). The FY27 goal of 24-25% implies adding ~Rs 4,000+ Cr in retail AUM on top of current ~Rs 5,000 Cr.

Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

FY26-Q3. PAT recovery accelerates, accelerated write-offs contradict prior guidance

FY26-Q4. Credit cycle over, clean inflection quarter with ROE 17.8%, guidance credibility tested

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

CreditAccess Grameen Ltd's gross NPA, the share of loans that have stopped being repaid, is 2.18% in Jun 2026, down from 4.70% a year ago. After the money already set aside for bad loans, 0.76% is left (net NPA). That is the 2nd quarter in a row of improvement.

Gross NPA is the share of the loan book where repayments have stopped. Net NPA is what is left after the money the lender has already set aside for those loans. Falling is good; rising is a warning.

Across the 11 quarters on file it has been between 0.97% and 4.76%. Falling bad loans mean the loan book is healing; rising ones mean new damage.

In Jun 2026, gross NPA was 2.18% and net NPA 0.76%, against 4.70% and 1.78% a year ago.

The bad-loan figures stop at Jun 2026, and our data does not yet carry gross and net NPA for the quarters after it, although results up to Sep 2026 are in. They are shown as filed, not estimated.

In short: a lender's profit growth is only as good as its loans, and this loan book is healing, several quarters running. Quarterly detail on money set aside for bad loans is not in our data yet, so this shows the levels and the trend, not the cost of the clean-up.

Why bad loans moved: recoveries, write-offs and new bad loans all play a part. That split is not in our data, so the page shows the trend without the breakdown.

CreditAccess Grameen Ltd's revenue was ₹6,059 Cr in FY26, +5.3% on the year before, so the loan book is growing. The latest quarter was +26.3% on a year earlier. The net margin on that income is 26.4%, +18.0 percentage points on a year ago.

We read the loan book through revenue: when the book grows, revenue grows with it. It is only a rough guide, because interest-rate changes and fee swings can move it a few points in any year.

Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year.

In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses.

CreditAccess Grameen Ltd's P/BV is 2.0×, about the lowest it has ever been. Its usual P/BV (the middle reading) is 3.2×, over 7.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

For a bank or lender we compare the price with book value, the net worth on its balance sheet. P/BV is how many rupees the market pays for each ₹1 of that net worth. Below 1× means the market values it at less than its net worth.

Why the multiple is low: this lender earns about 11% a year on its equity. A lender that earns less on its net worth is valued lower for each rupee of it, and that gap usually closes only if returns improve.

Why the multiple is where it is: over the past year book value grew while the price moved −18.3%. Price and book value moved together, so the multiple stayed in its range.

Where the price move came from: over 5 years the price moved +11.5% a year; about +17.5% a year came from book-value growth and about −6.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus book-value growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the book value trend underneath matters more than the multiple.

CreditAccess Grameen Ltd's business is turning around. Profit growth has swung from −87.1% at its low to +1093.2%, improving for 4 quarters in a row, with ROE rising at 17.8%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

CreditAccess Grameen Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: EARLY EXPANSION. Still open: Rs 39 Cr provision taken in Q4 FY26; management cautioned prolonged fuel/gas disruption could cascade into rural income; ~segment of borrowers with remittance income exposed.

NOT YET CHECKED

From the numbers. 14th percentile of 10-year range. Trough was 2.2x (Dec 2024).

From the price. Price stage 4, week 2, below its 200-day line, relative strength falling.

Where they disagree. 14th percentile of 10-year range. Trough was 2.2x (Dec 2024). FII stake-building active.

What is not proven yet. Rs 39 Cr provision taken in Q4 FY26; management cautioned prolonged fuel/gas disruption could cascade into rural income; ~segment of borrowers with remittance income exposed.

The test written in advance. West Asia Geopolitical Disruption, Income Shock to Borrowers. Measured by: West Asia Geopolitical Disruption, Income Shock to Borrowers Q1 FY27 credit cost print vs 3-4% guided; West Asia conflict escalation news by the next result.

The test written in advance. Retail Mix Goal Over-Ambitious, Execution Risk at 24-25% FY27. Measured by: Retail Mix Goal Over-Ambitious, Execution Risk at 24-25% FY27 Q1 FY27 retail AUM absolute amount and share %; goal is ~19-20% if evenly ramped by the next result.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

The dot is where the company is now; the dashed line is the level that would settle the question; a tinted band is where management says it is heading.

• 1 · Operating leveragequiet
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalbuilding
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersbuilding
• 12 · New product launchbuilding
• 13 · Mandatory normsquiet
• 14 · A bigger market to servebuilding
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 5 · Regulatory approval: building. Multi-lender AUM concentration collapsed from 25.3% (Aug 2024) to 3.3% (Mar 2026); GNPA at 3.17% vs 4.76% peak, the structural cause of FY25-FY26 credit losses is eliminated. What proves it keeps working: Credit Cycle Normalization, NPA Trough Passed. It stops working if Q1 FY27 credit cost print vs 3-4% guided; West Asia conflict escalation news.

Lever 2 · Value-added mix: building. Retail AUM share: 2.9% (FY25) → 6.8% (Q1 FY26) → 11.1% (Q2 FY26) → 14.1% (Q3 FY26) → 18.1% (FY26 exit), guided 24-25% by FY27 end; 2-3x leverage per customer vs base MFI loan. What proves it keeps working: Retail Finance Mix Expansion (MFI-to-individual graduation). It stops working if Q1 FY27 credit cost print vs 3-4% guided; West Asia conflict escalation news.

Lever 14 · A bigger market to serve: building. 7% MFI market share by customer count, aiming for 23.5 Cr low-to-middle income households by 2030; 38-43% of new additions are new-to-credit, expanding formal credit access. What proves it keeps working: TAM Expansion, 23.5 Crore Household Addressable Market. It stops working if Q1 FY27 credit cost print vs 3-4% guided; West Asia conflict escalation news.

Lever 11 · More business from existing customers: building. 11.2 lakh active app users (25% of borrower base); digital collections 22% vs 14% YoY; 30 lakh daily transactions, cost-to-income guided 33-35% FY27 (vs 34.1% Q3 FY26 adjusted). What proves it keeps working: Digital Platform Operating Leverage. It stops working if Q1 FY27 credit cost print vs 3-4% guided; West Asia conflict escalation news.

Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What CreditAccess Grameen Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

MFI and borrower-growth cadence has slipped · 22 October 2026. In July 2026, management expected borrower additions to average nearly 1 lakh per month and called this the primary driver of MFI growth; May 2026 also said MFI would still grow 10-12% despite 6-8% graduation into retail. In October 2026, management reported an 80,000-per-month run rate and a 2% decline in group-loan AUM from the start of FY27, with recovery deferred to Q3/Q4. Management attributed the gap to write-offs and graduation, but the shortfall versus the earlier cadence is material and merits clarification on whether full-year MFI and AUM growth still depends on an unusually strong second half.

Mortgage Profitability Reclassified · 24 July 2026. Management's May 2026 statement identified mortgage as the only retail product that was not profitable at the product level. In Jul 2026, management instead said that only two-wheeler loans were unprofitable as a product line, while also saying mortgage still needed approximately 1,000 crores for full break-even including HO costs. This is a material change in the stated profitability of mortgage and makes the treatment of shared costs unclear.

Borrowing Cost Trajectory Reversed from Continued Decline to Bottom Reached · 8 May 2026. The Oct 2025 call quantified an explicit 50 basis point FY27 borrowing cost benefit, and the Jan 2026 call reiterated projected declines of approximately 10 basis points per quarter for two to three more quarters. Just four months later in the May 2026 call, management declared borrowing costs have reached their bottom at 9.2% and may move slightly higher in FY27, directly reversing the trajectory communicated across both prior calls without a proportionate explanation beyond general global uncertainty.

Retail Finance Mix Goal Radically Raised and Accelerated Beyond Prior Guidance · 8 May 2026. The May 2026 call now goals 24% to 25% of AUM by FY27-end, approximately 60% above the prior FY28 ceiling and one full year ahead of schedule, with no explanation commensurate with the scale of this revision.

Every quote above is taken word for word from the company’s own earnings calls.

CreditAccess Grameen Ltd earned a return on equity of 11% in FY26. Its lowest yearly reading on file was 4% in FY21. On its assets, every ₹100 earned about ₹5.11, before the effect of borrowing. For a lender the balance sheet is the business, so the return on equity and on assets have to be read together.

Two numbers rate a bank: ROE, what it earns on shareholders’ money, and ROA, what it earns on all its assets. An ROE above about 13 to 15% is healthy; below that, net worth grows slowly.

That return is below the level a bank needs to grow its net worth quickly, which helps explain why its multiple is where it is.