# CreditAccess Grameen share price today (CreditAccess Grameen Ltd, NSE: CREDITACC)

> CreditAccess Grameen share price today: ₹1,058.80 at the NSE close on 3 November 2026, down 25.6% in a year. CreditAccess Grameen (NSE: CREDITACC) is worth ₹16,992 crore, trades at a P/BV of 1.9 and has closed between ₹1,023.60 and ₹1,592.80 over the past 52 weeks. > CreditAccess Grameen Ltd's earnings have grown faster than its share price. Earnings per share grew +45.9% in a year while the price moved −25.6%. CREDITACC · Finance & Investments - Microfinance · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/creditaccess-grameen-ltd

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## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹1,058.80 (−25.6% in a year)
- P/BV: 1.9× (lower than 98% of the last 7.5 years)
- Revenue (Sep 2026): ₹1,904 Cr (+26.3% on a year ago)
- Profit (Sep 2026): ₹502 Cr (+298.4% on a year ago)
- Net margin: 26.4% (+18.0 points on a year ago)
- ROE: 11%, FY26
- Gross NPA (bad loans): 2.18% (−2.52 points on a year ago)

The main question: yearly earnings per share moved +45.9% while the share price moved −25.6%. ## What is the CreditAccess Grameen share price today? CreditAccess Grameen Ltd's share price was ₹1,058.80 at the close on 3 November 2026. It has been falling for 2 weeks. That is 20.6% 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 6% of the way up from that low. 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 +160% 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. ## What changed at CreditAccess Grameen this quarter? 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. ## What are CreditAccess Grameen's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Total income | ₹1,904 crore | ₹1,508 crore | +26.3% |
| Profit | ₹502 crore | ₹126 crore | +298.4% |
| Earnings per share | ₹31.25 | ₹7.87 | +297.1% |
| Net margin | 26.4% | 8.4% | +18.0 points |

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.)

## What is the CreditAccess Grameen share price history? CreditAccess Grameen closed at ₹1,058.80 on 3 November 2026, down 25.6% from ₹1,423.60 a year earlier (31 October 2025) and up 65.7% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,027.40 | +3.1% |
| 1 month ago · 1 Oct 2026 | ₹1,239.00 | −14.5% |
| 6 months ago · 30 Apr 2026 | ₹1,300.10 | −18.6% |
| 1 year ago · 31 Oct 2025 | ₹1,423.60 | −25.6% |
| 3 years ago · 3 Nov 2023 | ₹1,669.05 | −36.6% |
| 5 years ago · 4 Nov 2021 | ₹638.80 | +65.7% |
| Earliest weekly close in our records · 24 Aug 2018 | ₹406.80 | +160.3% |
| Highest weekly close since August 2018 · 5 Jan 2024 | ₹1,729.10 | −38.8% |
| Lowest weekly close since August 2018 · 26 Oct 2018 | ₹247.70 | +327.5% |
| 52-week high (weekly close) · 31 Jul 2026 | ₹1,592.80 | −33.5% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹1,023.60 | +3.4% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (435 weekly closes from 24 August 2018 to 3 November 2026.)

## What is the latest news on CreditAccess Grameen? 3 Nov 2026: CreditAccess Grameen closed at ₹1,058.80, up 3.1% on the week and down 14.5% 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. ## What dividend does CreditAccess Grameen pay? CreditAccess Grameen paid no dividend in the 12 months to 4 November 2026. The last was a dividend of ₹10 a share, ex-date 26 July 2024. ### CreditAccess Grameen dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 26 Jul 2024 | ₹10 | Dividend |

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. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did CreditAccess Grameen management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/6580/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 22 October 2026.)

## What is the future of CreditAccess Grameen? What is changing in the business? 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.)

## What could change the CreditAccess Grameen story? What are the risks? ₹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.)

## What to watch in CreditAccess Grameen's next results? 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. - What to check (from the call)
- Central Maharashtra repayment requests and paused sourcing - check whether stress broadens or collections stabilize beyond the affected pockets. - Group-loan growth and borrower acquisition - verify H2 recovery as write-offs normalize and customer graduation continues. - Q3 credit costs and provisioning - test whether seasonal and drought-related pressure stays within the annual framework. - Mortgage-book delinquencies - assess whether credit performance remains within management's stated underwriting tolerance. ## Which stock lists is CreditAccess Grameen on? CreditAccess Grameen is on 2 of our India lists: 52 week high & low and Small & mid cap stocks. - [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 398](https://www.sectoralpha.in/small-cap-stocks-india)

## Is CreditAccess Grameen profitable? 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. 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. ## How much revenue does CreditAccess Grameen make, and is it growing? 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. 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. ## How much does CreditAccess Grameen keep from what it earns? 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. 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. ## How many of CreditAccess Grameen's loans have gone bad? 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. 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. ## How fast is CreditAccess Grameen's loan book growing? 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. 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. ## What is CreditAccess Grameen's P/BV ratio, and how does it compare with its own history? CreditAccess Grameen Ltd's P/BV is 1.9×, 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. 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 −25.6%. 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 +10.6% a year; about +18.7% a year came from book-value growth and about −8.1 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. ## Is the CreditAccess Grameen business getting better or worse? 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. 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. ## What is the CreditAccess Grameen story, and has it been checked? 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. Our read, 17 May 2026. 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. From the research. Where they disagree. 14th percentile of 10-year range. Trough was 2.2x (Dec 2024). FII stake-building active. What is proven. 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 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. 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. ## Did CreditAccess Grameen management deliver what it promised? 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. ## How much does CreditAccess Grameen earn on its equity and assets? 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. 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. Why ROE moved: profit grew 13.4% a year over 7 years while net worth grew more slowly. When earnings recover faster than net worth builds up, ROE climbs off its low. ## Does CreditAccess Grameen have too much debt? For a bank, borrowing is the raw material of the business, not a warning sign: it borrows money in order to lend it out. Its safety is read through its returns and its loans. Its safety is read from the bad-loan figures and the return on equity instead. For a manufacturer, debt is a claim on its profits. For a lender it is the stock it trades in, so the usual debt-to-equity test would mislead and is not used here. ## What is the CreditAccess Grameen shareholding pattern? Foreign institutions raised their stake in CreditAccess Grameen Ltd by 4.0 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 14.7% of the company. Promoters moved −2.7 points over the same period, to 63.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +4.0 points over 8 quarters, to 14.7%; Promoters: −2.7 points over 8 quarters, to 63.8%; Domestic institutions: −1.1 points over 8 quarters, to 13.8%. Why the owners changed: foreign institutions drove it (+4.0 points), with the other side taken by promoters (−2.7 points). They raised their stake step by step. ## How far is CreditAccess Grameen from balance-sheet trouble? For CreditAccess Grameen Ltd, the Z-score is not used, because it was built for manufacturers, not lenders. For a lender, safety is read from its capital and bad-loan figures instead. Why this happened. The key insight from four concalls: the FY25-FY26 credit cycle was driven by over-leveraged borrowers carrying >3 MFI loans simultaneously. The RBI guardrails mandated deleveraging. That process is now complete, borrowers with >3 lenders fell from 25.3% of AUM to 3.3% in 18 months. GNPA at 60 DPD is 3.17%, PAR 90 2.28%, both at pre-pandemic baseline levels. Credit cost is guided at 3-4% for FY27 vs 6.74% actual FY26. This creates a ~270-370 bps P&L tailwind on the credit line alone. ## How does CreditAccess Grameen rank in its industry? 66.9 out of 100, rank 3 of 7 in Finance & Investments - Microfinance, with 93% of the evidence available. CreditAccess Grameen Ltd scores 66.9 out of 100 against the 7 companies it is compared with in Finance & Investments - Microfinance, ranking 3. Earnings are strong; relative strength in its sector is -10.9% and the one-year return is -28.1%. The four parts add up to the total exactly: 31.9 + 18.1 + 11.6 + 5.3 = 66.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector. ## Which companies is CreditAccess Grameen compared with? CreditAccess Grameen ranks 3 of 7 Finance & Investments - Microfinance companies on the 4-Factor Sector Score, with 66.9 out of 100. 1. [Satin Creditcare Network Ltd](https://www.sectoralpha.in/stocks/satin-creditcare-network-ltd) SATIN · turning · Sector-leading setup · 82% evidence 84.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Income 20.3% · Profit 100% · 86% evidence Capital efficiency 18.0/25 · ROA 3.3% · ROE 12.3% · GNPA n/a · 72% evidence Valuation 16.3/20 · P/BV 0.83× · P/BV÷ROE 0.07 · 70% evidence Relative strength 20.0/20 · Lead over its industry 45.2% · Lead over NIFTY 500 30.5% · 1 year 52.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 29.9 + 18 + 16.3 + 20 = 84.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Northern Arc Capital Ltd](https://www.sectoralpha.in/stocks/northern-arc-capital-ltd) NORTHARC · quiet · Most evidence points up · 70% evidence 71.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.2/35 · Income 21.1% · Profit 54.4% · 55% evidence Capital efficiency 16.2/25 · ROA 2.7% · ROE 11.1% · GNPA n/a · 68% evidence Valuation 14.2/20 · P/BV 1.05× · P/BV÷ROE 0.1 · 70% evidence Relative strength 16.6/20 · Lead over its industry 7.8% · Lead over NIFTY 500 -2% · 1 year -7.1% · 100% evidence · 3 of 12 weeks ahead Exact sum: 24.2 + 16.2 + 14.2 + 16.6 = 71.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. CreditAccess Grameen Ltd this page CREDITACC · quiet · Most evidence points up · 93% evidence 66.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/35 · Income 17.6% · Profit 100% · 100% evidence Capital efficiency 18.1/25 · ROA 4.6% · ROE 10.5% · GNPA n/a · 72% evidence Valuation 11.6/20 · P/BV 1.84× · P/BV÷ROE 0.17 · 100% evidence Relative strength 5.3/20 · Lead over its industry -10.9% · Lead over NIFTY 500 -18.9% · 1 year -28.1% · 100% evidence · 4 of 12 weeks ahead Exact sum: 31.9 + 18.1 + 11.6 + 5.3 = 66.9 · What this means: Earnings are strong; relative strength in its sector is -10.9% and the one-year return is -28.1%. 4. [Muthoot Microfin Ltd](https://www.sectoralpha.in/stocks/muthoot-microfin-ltd) MUTHOOTMF · quiet · Evidence leans down · 89% evidence 44.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.2/35 · Income 0.9% · Profit 100% · 88% evidence Capital efficiency 9.2/25 · ROA 1.3% · ROE 6.2% · GNPA n/a · 72% evidence Valuation 7.3/20 · P/BV 0.81× · P/BV÷ROE 0.13 · 100% evidence Relative strength 1.5/20 · Lead over its industry -15.9% · Lead over NIFTY 500 -23.8% · 1 year -19.9% · 100% evidence · 5 of 12 weeks ahead Exact sum: 26.2 + 9.2 + 7.3 + 1.5 = 44.2 · What this means: Earnings are strong; relative strength in its sector is -15.9% and the one-year return is -19.9%. 5. [Arman Financial Services Ltd](https://www.sectoralpha.in/stocks/arman-financial-services-ltd) ARMANFIN · quiet · Evidence leans down · 86% evidence 40.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.8/35 · Income 0.1% · Profit 100% · 60% evidence Capital efficiency 13.8/25 · ROA 2% · ROE 6.3% · GNPA 2.8% · 100% evidence Valuation 5.0/20 · P/BV 1.6× · P/BV÷ROE 0.26 · 100% evidence Relative strength 9.9/20 · Lead over its industry -1.8% · Lead over NIFTY 500 -10.9% · 1 year -13.1% · 100% evidence · 8 of 12 weeks ahead Exact sum: 11.8 + 13.8 + 5 + 9.9 = 40.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Spandana Sphoorty Financial Ltd](https://www.sectoralpha.in/stocks/spandana-sphoorty-financial-ltd) SPANDANA · basing · Evidence leans down · 61% evidence 36.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.6/35 · Income -26.3% · Profit 96% · 46% evidence Capital efficiency 4.2/25 · ROA -0.9% · ROE -29.4% · GNPA n/a · 68% evidence Valuation 9.2/20 · P/BV 0.72× · P/BV÷ROE n/a · 40% evidence Relative strength 8.2/20 · Lead over its industry -11.1% · Lead over NIFTY 500 -18.9% · 1 year -25.6% · 100% evidence · 1 of 12 weeks ahead Exact sum: 14.6 + 4.2 + 9.2 + 8.2 = 36.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Fusion Finance Ltd](https://www.sectoralpha.in/stocks/fusion-finance-ltd) FUSION · quiet · Evidence leans down · 78% evidence 35.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Income -18.1% · Profit 100% · 40% evidence Capital efficiency 14.6/25 · ROA 3.5% · ROE 0.7% · GNPA 2.5% · 95% evidence Valuation 3.2/20 · P/BV 0.85× · P/BV÷ROE 1.25 · 100% evidence Relative strength 0.6/20 · Lead over its industry -16.8% · Lead over NIFTY 500 -24.6% · 1 year -29% · 100% evidence · 5 of 12 weeks ahead Exact sum: 17 + 14.6 + 3.2 + 0.6 = 35.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Finance & Investments - Microfinance](https://www.sectoralpha.in/sectors/finance-investments-microfinance), all 7 compared on one page. ## Which companies are close to CreditAccess Grameen in size? CreditAccess Grameen is the largest of 7 Finance & Investments - Microfinance companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Northern Arc Capital, Satin Creditcare Network, Muthoot Microfin, Fusion Finance, Spandana Sphoorty Financial and Arman Financial Services. ### Finance & Investments - Microfinance companies close in size

1. CreditAccess Grameen Ltd ₹16,434 crore
2. [Northern Arc Capital Ltd](https://www.sectoralpha.in/stocks/northern-arc-capital-ltd) ₹4,091 crore
3. [Satin Creditcare Network Ltd](https://www.sectoralpha.in/stocks/satin-creditcare-network-ltd) ₹2,639 crore
4. [Muthoot Microfin Ltd](https://www.sectoralpha.in/stocks/muthoot-microfin-ltd) ₹2,300 crore
5. [Fusion Finance Ltd](https://www.sectoralpha.in/stocks/fusion-finance-ltd) ₹2,093 crore
6. [Spandana Sphoorty Financial Ltd](https://www.sectoralpha.in/stocks/spandana-sphoorty-financial-ltd) ₹1,993 crore
7. [Arman Financial Services Ltd](https://www.sectoralpha.in/stocks/arman-financial-services-ltd) ₹1,495 crore

[All 7 Finance & Investments - Microfinance companies, largest first](https://www.sectoralpha.in/sectors/finance-investments-microfinance#all-companies)

### Companies close in size in other industries

1. [CESC Ltd](https://www.sectoralpha.in/stocks/cesc-ltd) ₹16,521 crore · Power - Generation/Distribution
2. [Happy Forgings Ltd](https://www.sectoralpha.in/stocks/happy-forgings-ltd) ₹16,503 crore · Castings, Forgings & Fastners
3. CreditAccess Grameen Ltd ₹16,434 crore
4. [Nazara Technologies Ltd](https://www.sectoralpha.in/stocks/nazara-technologies-ltd) ₹16,294 crore · Entertainment & Media
5. [Ratnamani Metals & Tubes Ltd](https://www.sectoralpha.in/stocks/ratnamani-metals-tubes-ltd) ₹16,256 crore · Stainless Steel

## What else do people ask about CreditAccess Grameen? ### What is CreditAccess Grameen's share price today? CreditAccess Grameen Ltd's share price is ₹1,058.80, −25.6% over the past year. The whole company is worth ₹16,992 Cr on the market. In the last 52 weeks it traded between ₹1,024 to ₹1,593; today it is 6% of the way up from the low, 20.6% below its 200-day average (as of 3 November 2026). ### What were CreditAccess Grameen's latest quarterly results? CreditAccess Grameen Ltd reported total income of ₹1,904 Cr and net profit of ₹502 Cr for the Sep 2026 quarter. Income rose 26.3% and profit rose 298.4% compared with a year earlier. Earnings per share were ₹31.25. The net margin was 26.4%, 18.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is CreditAccess Grameen's market cap? CreditAccess Grameen Ltd's market capitalisation is ₹16,992 Cr at a share price of ₹1,058.80. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is CreditAccess Grameen performing? CreditAccess Grameen Ltd's share price has been falling for 2 weeks. In its latest quarter, income rose 26.3% and profit rose 298.4% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will CreditAccess Grameen's share price go up? This page does not forecast CreditAccess Grameen Ltd's share price. What it shows instead: the share price is ₹1,058.80, and it has been falling for 2 weeks. Its P/BV of 1.9× is higher than 2% of its own last 8 years (as of 3 November 2026). ### Who owns CreditAccess Grameen? Promoters own 63.8% of CreditAccess Grameen Ltd, foreign institutions 14.7%, domestic institutions 13.8% and the public 7.7% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 4.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is CreditAccess Grameen in its business cycle? CreditAccess Grameen Ltd's FY26 net margin was 12.8%, against a 8-year range of 5.3% to 28.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 26.4%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the CreditAccess Grameen story? The main question: yearly earnings per share moved +45.9% while the share price moved −25.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is CreditAccess Grameen a stock worth studying right now? What the numbers show: CreditAccess Grameen Ltd's earnings have grown faster than its share price. Earnings per share grew +45.9% in a year while the price moved −25.6%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a CreditAccess Grameen share price forecast for 2026? What management itself guided: FY27 ROA 5.2-5.8%, ROE 21-24%, NIM 14.4-14.7% and cost-to-income 29-30%. 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. What would change the story: ₹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. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

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