CreditAccess Grameen Limited

Regd. & Corporate Office #49, 46thCross, 8thBlock, Jayanagar, Bengaluru-560070 Phone: 080-22637300 | Fax: 080-26643433 Email: [email protected] Website: www.creditaccessgrameen.com CIN: L51216KA1991PLC053425

May 06, 2021

To BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001 Scrip code: 541770

National Stock Exchange of India Limited The Exchange Plaza Bandra Kurla Complex Bandra (East) Mumbai- 400051 Scrip code: CREDITACC

Dear Sir/ Ma'am,

Sub: Outcome of the Board Meeting held on May 06, 2021:

In accordance with provisions of Regulation 30 (read with Part A of Schedule III) and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we hereby inform that the Board of Directors of the Company has, at its meeting held today i.e. on Thursday, May 06, 2021, inter-alia considered and unanimously approved the Audited Standalone and Consolidated Financial Results of the Company for the Fourth Quarter and Financial year ended March 31, 2021.

We enclose the following documents as prescribed under Regulation 33 and 52 of the Listing Regulations:

1. The audited Financial Results on Standalone and Consolidated basis along with Auditors' Reports thereon;
1. Press Release and Investors' Presentation;
1. A declaration as per Regulation 33 (3)(d) and 52(3)(a) of the Listing Regulations, confirming that the Auditors have submitted their Report with unmodified opinion.

These will also be made available on the Company's website at www.creditaccessgrameen.in

The Meeting commenced at 2.00 PM and concluded at 5.15 PM.

We request you to take the same on record.

Thanking you,

Yours Faithfully For CreditAccess Grameen Limited

M. J. Mahadev Prakash Head – Compliance, Legal & Company Secretary

Encl.: As above

CreditAccess Grameen Limited

May 06, 2021

To BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001 Scrip code: 541770

National Stock Exchange of India Limited The Exchange Plaza Bandra Kurla Complex Bandra (East) Mumbai- 400051 Scrip code: CREDITACC

Dear Sir/ Ma'am,

Sub.: Declaration under Regulation 33 (3)(d) and 52(3)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

As per the requirements of Regulation 33 (3)(d) and 52(3)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare and confirm that Deloitte Haskins & Sells, the Statutory Auditors of the Company has expressed an unmodified opinion on the Auditors' Report (Standalone and Consolidated) of the Company for the financial year ended March 31, 2021.

Kindly take the above on record.

Thanking you,

Yours Faithfully For CreditAccess Grameen Limited

M. J. Mahadev Prakash Head – Compliance, Legal & Company Secretary

	Statement of standalone financial results for the quarter and year ended March 31, 2021
Sr.	Particulars					₹ in crore
			Quarter ended		Year ended
No.		31-Mar-21 (Refer Note 12)	31-Dec-20 (Unaudited)	31-Mar-20 (Refer Note 12)	31-Mar-21 (Audited)	31-Mar-20 (Audited)

	Revenue from operations
(a)	Interest income	510.56	412.98	454.38	1,877.13	1,617.19
(b)	Fees and commission	3.65	4.17	2.00	8.49	4.95
(c) (d)	Net gain on fair value changes Others	83.45	21.05	3.16	130.64	56.15
H.	Total revenue from operations (I)	9.44 607.10	1.48	1.38	11.27	5.20
			439.68	460.92	2,027.53	1,683.49
Ш	Other income	1.81	0.47	0.12	3.61	0.87
		1.81	0.47	0.12	3.61	0.87
Ш	Total income (I+II)	608.91	440.15	461.04	2,031.14	1,684.36

(a)	Expenses Finance costs
(b)	Fee and commission expense	186.02 1.97	179.17 0.22	167.01	740.07	571.03
(c)	Impairment of financial instruments	200.24	242.38	0.43 140.68	3.01 646.90	1.18 238.98
(d)	Employee benefits expenses	76.24	74.19	68.17	299.60	259.64
(e)	Depreciation and amortisation expenses	6.56	5.30	5.07	23.43	19.64
(f)	Other expenses	38.52	34.29	49.84	123.84	143.00
IV	Total expenses (IV)	509.55	535.55	431.20	1,836.85	1.233.47
v	Profit/(loss) before tax (III-IV)	99.36	(95.40)	29.84	194.29
						450.89
	Tax expense
	(1) Current tax	(9.63)	8.72	41.90	93.44	159.32
	(2) Deferred tax	36.72	(32.51)	(34.87)	(41.54)	(35.93)
V١	Total tax expense (VI)	27.09	(23.79)	7.03	51.90	123.39
	VII Profit/(loss) for the period / year (V-VI)
		72.27	(71.61)	22.81	142.39	327.50
VIII	Other comprehensive income
(a)	(1) Items that will not be reclassified to profit or loss
	- Remeasurement gain/ (losses) on defined benefit obligations (net)	1.19	(0.08)	(0.36)	0.22	0.05
	(2) Income tax relating to items that will not be reclassified to profit or loss	(0.30)	0.02	0.09	(0.05)	(0.01)
(b)	Subtotal (a)	0.89	(0.06)	(0.27)	0.17	0.04
	(1) Items that will be reclassified to profit or loss - Net change in fair value of loans measured at fair value through other
	comprehensive income	46.76	0.47	(30.36)	42.93	(34.83)
	(2) Income tax relating to items that will be reclassified to profit or loss	(11.77)	(0.12)	7.64	(10.80)	7.46
	Subtotal (b)	34.99	0.35	(22.72)	32.13	(27.37)
	Other comprehensive income/(loss) (VIII = a+b)	35.88	0.29	(22.99)	32.30	(27.33)
IX	Total comprehensive income/(loss) (VII+VIII) (comprising profit/(loss) and	108.15	(71.32)	(0.18)	174.69	300.17
	other comprehensive income/(loss) for the period / year)

х XI	Paid-up equity share capital (face value of ₹10 each)				155.58	143.99
XII	Other equity Earnings per equity share (EPS) (face value of ₹ 10 each)				3,479.23	2,525.09
	Basic (EPS) *	4.65
	Diluted (DPS) *	4.61	(4.64) (4.64)	1.58 1.57	9.52 9.46	22.78 22.59

Statement of standalone financial results for the quarter and year ended March 31, 2021
2. Statement of standalone cash flows for the year ended March 31, 2021		$\bar{\mathbf{z}}$ in crore
Particulars	For the year ended
	March 31, 2021 (Audited)	March 31, 2020 (Audited)
Cash flow from operating activities:
Profit before tax	194.29	450.89
Adjustments:
Interest income on loans	(1,858.17)	(1,611.05)
Interest on deposits with banks and financial institutions	(18.96)	(6.14)
Depreciation and amortisation expenses Finance costs	23.43	19.64 571.03
Impairment on financial instruments	740.07 646.90	238.98
Gain on derecognition of loans designated at FVTOCI	(112.89)	(41.33)
Net gain on financial instruments at fair value through profit or loss	(17.74)	(14.82)
Share based payments to employees	1.96	2.51
Provision/(Reversal of provision) for other assets	0.20	0.32
	(595.20)	(840.86)
Operational cash flows from interest:
Interest received on loans	1,852.85	1,572.25
Finance costs	(709.74)	(540.41)
Working capital changes:
(Increase) in loans	(1, 143.84)	(2,804.82)
Decrease/ (Increase) in other receivables	0.22	(0.13)
Decrease in other financial assets (Increase) in other non-financial assets	48.63	41.97
Increase/ (decrease) in trade and other payables	(3.37) 90.42	(1.57) (23.89)
Increase in provisions	3.88	4.19
Increase in Other financial liabilities	2.31	0.95
Increase in other non-financial liabilities	0.60	3.17
	(1,001.15)	(2,780.13)
Income tax paid	(105.37)	(163.69)
Net cash flows (used in) Operating activities	(364.32)	(2,301.95)
Cash flow from investing activities
Purchase of property, plant and equipment	(3.29)	(14.21)
Proceeds from sale of property, plant and equipment Purchase of Intangible assets and expenditure on Intangible assets under development	0.46	0.12
(Increase) / Decrease in bank balance other than cash and cash equivalents	(8.50) (55.55)	(7.44) 25.99
Interest on deposits with banks and financial institutions	18.96	6.14
Purchase of investments at fair value through profit and loss	(7, 200.60)	(9, 125.63)
Sale of investments at fair value through profit and loss	7,218.34	9,140.45
Investment in equity shares of subsidiary Net cash flows (used in) investing activities	(1.49)	(661.24)
	(31.67)	(635.82)
Cash flow from financing activities
Debt securities issued / (repaid) (net)	825.84	88.72
Borrowings other than debt securities issued (net) Subordinated liabilities repaid (net)	108.39	3,012.59
Payment of Lease liability (net)	(17.35)	(11.39)
Financial liability towards securitisation (repaid) (net)		(5.93) (158.92)
Proceeds from issuance of equity share capital including securities premium	799.99
Proceeds from the Employee Stock options	2.62	3.59
Expenses incurred towards issuance of equity share capital Net cash flows from financing activities	(13.53)
	1,705.96	2,928.66
Net increase / (decrease) in cash and cash equivalents	1,309.97	(9.11)
Cash and cash equivalents as at the beginning of the year	564.62	573.73
Cash and cash equivalents as at the end of the year	1,874.59	564.62

Chartered Accountants

ASV N Ramana Tower 52, Venkatnarayana Road T. Nagar, Chennai-600 017 Tamil Nadu, India

Tel: 044 6688 5000 Fax: 044 6688 5050

INDEPENDENT AUDITORS' REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF CREDITACCESS GRAMEEN LIMITED

Opinion

We have (a) audited the Standalone Financial Results for the year ended March 31, 2021 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2021 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2021" of CreditAccess Grameen Limited (the "Company"), (the "Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

(a) Opinion on Annual Standalone Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31, 2021:

i. is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2021

With respect to the Standalone Financial Results for the quarter ended March 31, 2021, based on our review conducted as stated in paragraph (b) of Auditors' Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2021, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 (the "Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditors' Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the "ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

We draw attention to Note 5 to the Statement in which the Company describes the continuing uncertainties, particularly on the impairment provisions, arising from the COVID 19 pandemic which are dependent on future developments.

Our opinion/conclusion is not modified in respect of this matter.

Management's Responsibilities for the Statement

This Statement which includes the Standalone Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2021 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditors' Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2021 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 and Regulation 52 of the Listing Regulations.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone

Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the Company to express an opinion on the Annual Standalone Financial Results.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2021

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2021 in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Other Matters

• The comparative financial information of the Company for the quarter and year ended March 31, 2020 included in this Statement have been audited by the predecessor auditor. The report of the predecessor auditor on these comparative financial information dated May 30, 2020 expressed an unmodified opinion. Our opinion/conclusion on the Statement is not modified in respect of this matter.

• The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between audited figures in respect of the full financial year and the audited year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our opinion/conclusion on the Statement is not modified in respect of this matter.

For Deloitte Haskins & Sells Chartered Accountants (Firm's Registration No. 008072S)

G. K. Subramaniam (Partner) (Membership No. 109839) (UDIN: 21109839AAAAFH7468)

Place: Mumbai Date: 6 May 2021

Sr.	Particulars		Quarter ended		Year ended	₹ in crore
No.		31-Mar-21	31-Dec-20	31-Mar-20	31-Mar-21	31-Mar-20
		(Refer Note 12)	(Unaudited)	(Refer Note 12)	(Audited)	(Audited)
	Revenue from operations
(a)	Interest income	611.95	513.24	470.57	2,290.03	1,633.39
(b)	Fees and commission	3.66	4.17	2.05	8.50	5.00
(c)	Net gain on fair value changes Others	83.74	21.17	3.35	132.90	56.35
(d) J.	Total revenue from operations (I)	24.56 723.91	2.96 541.54	5.74 481.71	29.31 2,460.74	9.57 1.704.31
Ш	Other income	2.29	1.49	0.41	5.33	1.17
		2.29	1.49	0.41	5.33	1.17
Ш	Total income (I+II)	726.20	543.03	482.12	2,466.07	1,705.48
	Expenses
(a)	Finance costs	237.27	224.20	174.31	928.72	578.34
(b)	Fee and commission expense	1.98	0.22	0.43	3.01	1.18
(c) (d)	Impairment of financial instruments Employee benefits expenses	250.43 95.69	275.65 94.97	138.96 70.57	771.36 379.99	237.27 262.05
(e)	Depreciation and amortisation expenses	11.65	10.46	5.80	44.07	20.37
(f)	Other expenses	50.59	42.88	51.53	158.52	144.6'
IV	Total expenses (IV)	647.61	648.38	441.60	2,285.67	1.243.88
v	Profit/(loss) before tax (III-IV)	78.59	(105.35)	40.52	180.40	461.60
	Tax expense
	(1) Current tax	(6.90)	11.16	43.05	106.44	160.47
	(2) Deferred tax	29.21	(37.45)	(33.31)	(57.44)	(34.36)
VI	Total tax expense (VI)	22.31	(26.29)	9.74	49.00	126.1'
	VII Profit/(loss) for the period / year (V-VI)	56.28	(79.06)	30.78	131.40	335.49
VIII	Other comprehensive income
(a)	(1) Items that will not be reclassified to profit or loss
	- Remeasurement (losses) and gains on defined benefit obligations (net)	1.27	(0.15)	(0.39)	0.17	0.02
	(2) Income tax relating to items that will not be reclassified to profit or loss	(0.29)	0.02	0.10	(0.04)	(0.0)
	Subtotal (a)	0.98	(0.13)	(0.29)	0.13	0.0 ₁
(b)	(1) Items that will be reclassified to profit or loss - Net change in fair value of loans measured at fair value through other
	comprehensive income	46.77	0.47	(30.36)	42.93	(34.8)
	(2) Income tax relating to items that will be reclassified to profit or loss Subtotal (b)	(11.77) 35.00	(0.12) 0.35	7.64 (22.72)	(10.80) 32.13	7.46 (27.3)
	Other comprehensive income/(loss) (VIII = a+b)	35.98	0.22	(23.01)	32.26	(27.3)
IX	Total comprehensive income/(loss) (VII+VIII) (comprising profit/(loss) and	92.26	(78.84)	7.77	163.66	308.1
	other comprehensive income/(loss) for the period / year)
	Profit is attributable to:
	Owners of the Company	76.87	(77.29)	28.84	134.02	333.5
	Non-controlling interest	(20.59)	(1.77)	1.94	(2.62)	1.9 ₀
	Other comprehensive Income is attributable to:
	Owners of the Company	35.10	0.23	(23.00)	32.27	(27.3)
	Non-controlling interest	0.88	(0.01)	(0.01)	(0.01)	(0.0)
	Total comprehensive Income is attributable to:
	Owners of the Company	111.97	(77.06)	5.83	166.29	306.1
	Non-controlling interest	(19.71)	(1.78)	1.94	(2.63)	1.9
х	Paid-up equity share capital (face value of ₹10 each)				155.58	143.9
XI	Other equity				3,535.97	2,590.2
XII	Earnings per equity share (EPS) (face value of ₹10 each)
	Basic (EPS) *	3.62	(5.12)	2.00	8.96	23.2
	Diluted (DPS) *	3.59	(5.12)	1.99	8.90	23.0

	Statement of consolidated financial results for the quarter and year ended March 31, 2021
Notes:
	1. Statement of consolidated assets and liabilities as at March 31, 2021
Sr.	Particulars	As at March 31, 2021	₹ in crore As at March 31, 2020
No.		(Audited)	(Audited)
	ASSETS
(1)	Financial assets
(a)	Cash and cash equivalents	2,360.09	644.87
(b)	Bank balance other than cash and cash equivalents	124.29	72.77
(c)	Other receivables		0.22
(d)	Loans	11,720.48	11.098.91
(e)	Investments	0.54	45.56
(f)	Other financial assets	132.05	58.36
(2)	Non-financial assets
(a)	Current tax assets (net)	30.84	22.11
(b)	Deferred tax assets (net)	104.09	57.44
(c)	Property, plant and equipment	24.15	31.69
(d)	Right to use assets	67.50	54.60
(e)	Goodwill on consolidation Intangible assets	317.58	317.58
(f) (g)	Intangible assets under development	163.54 0.62	172.63 2.84
(h)	Other non-financial assets	13.47	10.63
	Total assets	15,059.24	12,590.21

	LIABILITIES AND EQUITY
(1)	Financial liabilities
(a)	Payables
	(I) Trade payables (i) Total outstanding dues of micro enterprises and small enterprises
	(ii) Total outstanding dues of creditors other than micro enterprises and
	small enterprises	62.55	41.19
	(II) Other payables
	(i) Total outstanding dues of micro enterprises and small enterprises
	(ii) Total outstanding dues of creditors other than micro enterprises and
	small enterprises	139.14	67.46
(b)	Borrowings
	- Debt securities	1,674.95	792.58
	- Borrowings (other than debt securities) - Subordinated liabilities	9,163.68 102.70	8,644.06 103.03
(c)	Other financial liabilities	82.94	67.20

(2)	Non-financial liabilities
(a)	Current tax liabilities (net)	۰
(b)	Provisions Other non-financial liabilities	25.53	20.31
(c)		11.37	11.21
(3)	Equity
(a)	Equity share capital	155.58	143.99
(b)	Other equity	3,535.97	2,590.23
(c)	Non-controlling interests	104.83	108.95
	Total liabilities and equity	15,059.24	12,590.21

2. Statement of consolidated cash flows for the year ended March 31, 2021 Particulars
		₹ in crore
	For the year ended
	March 31, 2021 (Audited)	March 31, 2020 (Audited)
Cash flow from operating activities:
Profit before tax	180.40	461.60
Adjustments for:
Interest income on loans	(2, 264.41)	(1,632.85)
Interest on deposits with banks and financial institutions	(25.62)	(6.34)
Depreciation and amortisation expenses	44.07	20.37
Finance costs Impairment on financial instruments	928.72	578.34
Net gain on financial instruments at fair value through profit or loss	771.36 (20.01)	237.27 (15.02)
Gain on derecognition of loans designated at FVTOCI	(112.89)	(41.33)
Other Income	(9.68)	(4.19)
Share based payments to employees	1.96	2.51
Provision for other assets	0.20	0.32
	(686.30)	(860.92)
Operational cash flows from interest:
Interest income on loans	2,235.18	1,587.43
Finance costs	(896.09)	(558.50)
Working capital changes:
(Increase) in loans	(1,311.08)	(2,742.42)
Decrease / (Increase) in other receivables	0.22	(0.13)
Decrease in other financial assets	39.18	38.43
(Increase) in other non-financial assets	(2.98)	(1.57)
Increase / (Decrease) in trade and other payables Increase in other financial liabilities	94.17 2.31	(23.33) 0.88
Increase in provisions	5.39	4.19
Increase in other non-financial liabilities	0.15	4.62
Decrease in derivative financial instruments		1.10
Income tax paid (net of refunds)	(1, 172.64) (115.22)	(2,718.23) (164.02)
Net cash flows (used in) / from Operating activities (A)	(454.67)	(2, 252.64)
Investing activities
Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment	(4.74) 0.46	(14.36) 0.12
Purchase of Intangible assets and expenditure on Intangible assets under development	(9.82)	(7.44)
Interest on deposits with banks and financial institutions	25.62	6.34
Decrease / (increase) in bank balance other than cash and cash equivalents Purchase of investments	(51.52) (8, 206.90)	23.85 (9,240.63)
Sale of investments	8,271.92	9,285.72
Investment in equity shares of subsidiary	(1.49)	(661.24)
Net cash flows (used in) / from investing activities (B)	23.53	(607.64)
Financing activities
Debt securities issued / (repaid) (net)	853.42	88.72
Borrowings other than debt securities issued (net)	522.19	2,839.72
Subordinated liabilities repaid (net)		(11.39)
Payment of Lease liability (net) Proceeds from issuance of equity share capital including securities premium	(18.33) 799.99	(5.93) 3.59
Proceeds from the Employee Stock options	2.62
Expenses incurred towards issuance of equity shares	(13.53)
Net cash flows from Financing activities (C)	2,146.36	2,914.71
Net increase in cash and cash equivalents	1,715.22	54.43
Cash and cash equivalents as at the beginning of the year	644.87	590.44
Cash and cash equivalents as at the end of the year	2,360.09	644.87

Chartered Accountants

ASV N Ramana Tower 52, Venkatnarayana Road T. Nagar, Chennai-600 017 Tamil Nadu, India

Tel: 044 6688 5000 Fax: 044 6688 5050

INDEPENDENT AUDITORS' REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF CREDITACCESS GRAMEEN LIMITED

Opinion and Conclusion

We have (a) audited the Consolidated Financial Results for the year ended March 31, 2021 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2021 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2021" of CreditAccess Grameen Limited (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as the "Group") for the quarter and year ended March 31, 2021, (the "Statement") being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

(a) Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial statements of the subsidiaries referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2021

S.No	Name of the Company	Nature of relationship
1	CreditAccess Grameen Limited	Parent
2	Madura Micro Finance Limited	Subsidiary
3	Madura Micro Education Private Limited	Step-down Subsidiary

(i) includes the results of the following entities:

(ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
(iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the year ended March 31, 2021.

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2021

With respect to the Consolidated Financial Results for the quarter ended March 31, 2021, based on our review conducted and procedures performed as stated in paragraph (b) of Auditors' Responsibilities section below and based on the consideration of the review reports of the other auditors referred to in Other Matters section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2021, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2021

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditors' Responsibilities section below. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

We draw attention to Note 5 to the Statement in which the Group describes the continuing uncertainties, particularly on the impairment provisions, arising from the COVID 19 pandemic which are dependent on future developments.

Our opinion/conclusion is not modified in respect of this matter.

Management's Responsibilities for the Statement

This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent's Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2021, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Parent, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditors' Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2021 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the entities within the Group to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated Financial Results.

We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them

all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Unaudited Consolidated Financial Results for the quarter ended March 31, 2021

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2021 in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Other Matters

The comparative financial information of the Group for the quarter and year ended March 31, 2020 included in this Statement have been audited by the predecessor auditor. The report of the predecessor auditor on these comparative consolidated financial information dated May 30, 2020 expressed an unmodified opinion. Our opinion/conclusion is not modified in respect of this matter
The Statement includes the results for the Quarter ended March 31, 2021 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our opinion/conclusion is not modified in respect of this matter.
We did not audit the financial statements of two subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 2,598.28 crore as at March 31, 2021 and total revenues of Rs.117.93 crore and Rs. 435.29 crore for the quarter and year ended March 31, 2021 respectively, total net loss after tax of Rs. (13.57) crore and Rs. (0.40) crore for the quarter and year ended March 31, 2021 respectively and total comprehensive loss of Rs. (13.52) crore and Rs. (0.44) crore for the quarter and year ended March 31, 2021 respectively and net cash flows of Rs. 405.27 crore for the year ended March 31, 2021 as considered in the Statement. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated under Auditors' Responsibilities section above. Our report on

the Statement is not modified in respect of the matters with respect to our reliance on the work done and the reports of the other auditors.

For Deloitte Haskins & Sells

Chartered Accountants (Firm's Registration No. 008072S)

G. K. Subramaniam (Partner) (Membership No. 109839) (UDIN: 21109839AAAAFI7837)

Place: Mumbai Date: 6 May 2021

CreditAccess Grameen Limited Q4 & FY21 Investor Presentation May 2021

www.creditaccessgrameen.in

Disclaimer

By accessing this presentation, you agree to be bound by the following terms and conditions. This presentation (which may reflect some price sensitive information in terms of SEBI regulations and Companies Act, 2013, as amended from time to time) has been prepared by CreditAccess Grameen Limited (the "Company"). The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any persons of such change or changes.

This presentation may contain certain "forward looking statements". These statements include descriptions regarding the intent, belief or current expectations of the Company or its management and information currently available with its management, including with respect to the results of operations and financial condition of the company. By their nature, such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. Many factors could cause the actual results, performances, or achievements of the Company to be materially different from those contemplated by the relevant forward looking statement. Significant factors that could make a difference to the Company's operations include domestic and international economic conditions, changes in government regulations, tax regime and other statutes. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. Against the background of these uncertainties, readers should not rely on these forward-looking statements. Neither the Company nor any of its advisors or representatives, on the behalf of the Company, assumes any responsibility to update or revise any forward-looking statement that may be made from time to time by or on behalf of the Company or to adapt such forward-looking statement to future events or developments.

This presentation contains certain supplemental measures of performance and liquidity that are not required by or presented in accordance with Ind AS, and should not be considered an alternative to profit, operating revenue or any other performance measures derived in accordance with Ind AS or an alternative to cash flow from operations as a measure of liquidity of the Company.

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You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Any opinions expressed in this presentation are subject to change without notice and past performance is not indicative of future results. By attending this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business.

This presentation and its contents are not and should not be construed as a prospectus or an offer document, including (as defined under the Companies Act, 2013, to the extent notified and in force) or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. The information contained herein does not constitute or form part of an offer, or solicitation or invitation of an offer to purchase or subscribe, for securities nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto.

By accessing this presentation, you accept that this disclaimer and any claims arising out of the use of the information from this presentation shall be governed by the laws of India and only the courts in Bangalore, and no other courts, shall have jurisdiction over the same.

Discussion Summary

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Investment Rationale

Annexure

Microfinance Organisation of the Year

The award conferred at the 12th Inclusive Finance India Awards 2020

India's 30 Best Workplaces in BFSI – 2021

Great Place to Work Institute India

Balancing Robust Business Growth and Early Risk Recognition

Business Growth Momentum Maintained in Q4 FY21

GLP grew by 13% YoY and 10% QoQ to INR 13,587 Cr

New Disbursals (Jun-Mar): ~69% of GLP
CAGL: INR 11,341 Cr (+15% YoY, +11% QoQ)
MMFL: INR 2,246 Cr (+7% YoY, +6% QoQ)

Borrowers declined by 3.5% YoY to 39.12¹ Lakh

CAGL: 28.71 Lakh (2,12,688 new added in Q4 FY21, 3,96,573 in FY21)
MMFL: 10.98 Lakh (79,471 new added in Q4 FY21, 1,59,385 in FY21)

Disbursements grew by 42% YoY and 3% QoQ to INR 4,726 Cr

CAGL: INR 4,143 Cr (+42% YoY, +3% QoQ)
MMFL: INR 583 Cr (+41% YoY, +4% QoQ)

Gradual pick-up in monthly collections (excl. arrears/ incl. arrears)

• CAGL: 94%/ 97% in Mar-21, MMFL: 90%/ 91% in Mar-21

Early Risk Recognition and Conservative Provisioning

CAGL: Continued focus on early risk recognition & provisioning

ECL of 5.00% against GNPA of 4.38% (predominantly @ 60+ dpd)
Additional COVID buffer of INR 103.4 Cr (1.0% ECL) created for FY22
0.73% restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets
Write-off of INR 278.7 Cr (incl. accelerated write-off of INR 273.4 Cr) in Q4 FY21
INR 16.0 Cr interest income (on Stage 3 portfolio) de-recognized in Q4 FY21

MMFL: Gradual Alignment of Provisioning Policy with CAGL

ECL of 5.07% against GNPA of 4.70%, Write-off of INR 39.2 Cr in Q4 FY21
Additional COVID buffer of INR 8.8 Cr (0.4% ECL) created for FY22
INR 3.9 Cr interest income (on Stage 3 portfolio) de-recognized in Q4 FY21

Strong profitability in Q4 FY21 was utilized to absorb accelerated write-offs and build additional provisioning buffer ahead of FY22

Strong Balance Sheet Position to Enable Consistent Growth in Future

Adequate Liquidity & continued support from lenders

INR 2,484.4 Cr C&CE (16.5% of total assets) as on 31st March 2021
INR 2,614 Cr undrawn sanctions as on 31st March 2021
INR 3,951 Cr sanctions in pipeline as on 31st March 2021

Healthy Capital Position even after early risk recognition and provisioning

CRAR: CAGL 31.8% (Tier 1: 30.5%)
CRAR: MMFL 20.9% (Tier 1: 17.7%)
CRAR: Consolidated 26.8% (Tier 1: 25.5%)

1) Excluding 57,737 common borrowers

www.creditaccessgrameen.in 5

CE % (excl. arrears)	Dec-20	Jan-21	Feb-21	Mar-21
Karnataka	93%	95%	95%	96%
Tamil Nadu	94%	94%	95%	95%
Madhya Pradesh	92%	93%	94%	94%
Others	94%	95%	96%
Total (Excl. Maharashtra)	93%	94%	95%	96%
Maharashtra	86%	88%	89%	90%
Total	91%	93%	93%	94%

NOTE: Restructured Book amounts to INR 75.5 Cr (0.73% of GLP) (99.5% < 30 dpd) as on Mar-21

CE % (incl. arrears)	Dec-20	Jan-21	Feb-21	Mar-21
Karnataka	97%	97%	97%	98%
Tamil Nadu	97%	96%	97%	97%
Madhya Pradesh	96%	96%	96%	97%
Others	97%	98%	98%	99%
Total (Excl. Maharashtra)	97%	97%	97%	98%
Maharashtra	95%	94%	94%	96%
Total	96%	96%	96%	97%

MoM Improvement in Collection Efficiency

Significant Containment of Asset Quality Stress (CAGL)

PAR 0	Dec-20	Jan-21	Feb-21	Mar-21
Karnataka	8.6%	7.4%	6.4%	3.6%
Tamil Nadu	10.1%	9.8%	8.4%	6.1%
Madhya Pradesh	9.8%	8.7%	7.7%	4.3%
Others	8.3%	6.3%	4.9%	2.8%
Total (Excl. Maharashtra)	9.0%	7.9%	6.7%	4.0%
Maharashtra	19.1%	16.9%	14.9%	8.7%
Total	11.8%	10.3%	8.9%	5.2%

NOTE: Restructured Book amounts to INR 75.5 Cr (0.73% of GLP) (99.5% < 30 dpd) as on Mar-21

Mar-21	PAR 60	PAR 90
Karnataka	2.6%	2.2%
Tamil Nadu	3.6%	2.8%
Madhya Pradesh	2.9%	2.4%
Others	1.8%	1.5%
Total (Excl. Maharashtra)	2.7%	2.3%
Maharashtra	5.7%	4.8%
Total	3.5%	2.9%

			Q4 FY21			Q3 FY21
	Asset Classification (dpd)	EAD (INR Cr)	EAD%	ECL%	EAD (INR Cr)	EAD%	ECL%
Stage 1	0-15 (GL), 0-30 (RF)	9,748.0	94.5%	1.8%2	9,007.1	90.2%	0.7%
Stage 2	16-60 (GL), 31-90 (RF)	114.8	1.1%	24.2%	298.8	3.0%	16.8%
Stage 3	60+ (GL), 90+ (RF)	451.41	4.4%	69.5%	683.0	6.8%	70.1%
Total		10,314.2	100%	5.0%	9,988.8	100%	5.9%

1) 0.73% (INR 75.5 Cr) restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets

2) Includes additional COVID buffer of INR 103.4 Cr (1.0% of ECL)

CAGL adopts conservative approach leading to early recognition of risk backed by accelerated provisioning coverage

Contribution of Customers as on Mar-21	Stage 1 EAD%	Stage 2 EAD%	Stage 3 EAD%	Total EAD%
Full Payment	93.7%	0.0%	0.7%	94.4%
Partial Payment	0.8%	0.9%	2.0%	3.7%
No Payment	0.0%	0.2%	1.7%	1.9%
Total	94.5%	1.1%	4.4%	100%

Continued efforts to encourage customers to maintain/ improve the repayment trend
Additional financing support to customers displaying improving repayment behaviour
Focus on roll-back of partially paying customers and activation of non-paying customers
Accelerated Write-off of INR 273.4 Cr in Q4 FY21

EAD: Exposure at default includes principal and accrued interest

…Driven by Growth From Both Mature & New Branches						…While Displaying Stable Asset Quality
Disbursements (INR Cr)	No. of Branches	Q4 FY20	Q4 FY21	% YoY Growth	New Disbursals (Jun-20 to Mar-21)	INR Cr	PAR% as on
					Regular	9,468.5	99.0%
Branches opened before FY20	670	2,473.7	3,430.2	38.7%	PAR 0	97.9
					PAR 30	39.7
Branches opened during FY20	259	442.7	713.0	61.1%	PAR 60	22.8
					PAR 90	12.3
Total	929	2,916.4	4,143.2	42.1%	Total Disbursals	9,641.3	72% of GLP

New Disbursals (Jun-20 to Mar-21)	INR Cr	PAR% as on Mar-21
Regular	9,468.5	99.0%
PAR 0	97.9	1.0%
PAR 30	39.7	0.4%
PAR 60	22.8	0.2%
PAR 90	12.3	0.1%
Total Disbursals	9,641.3	72% of GLP

Update on Collections & Provisioning at MMFL

	Building Adequate Provisioning
Asset	Q4 FY21 Q3 FY21
	Classification (dpd)	EAD (INR Cr)	EAD%	ECL%	EAD (INR Cr)	EAD%	ECL%
Stage 1	0-30	1,901.9	90.2%	1.1%	1,890.6	90.8%	2.0%
Stage 2	31-90	108.6	5.1%	18.7%	132.9	6.4%	15.6%
Stage 3	90+	99.1	4.7%	67.1%	58.1	2.8%	64.0%
Total		2,109.5	100.0%	5.1%	2,081.6	100.0%	4.6%

Contribution of Groups as on Mar-21	Stage 1 EAD%	Stage 2 EAD%	Stage 3 EAD%	Total EAD%
Full Payment	85.8%	0.7%	0.7%	87.1%
Partial Payment	4.3%	4.4%	3.4%	12.0%
No Payment	0.1%	0.1%	0.7%	0.9%
Total	90.2%	5.1%	4.7%	100.0%

Gradual alignment of ECL with CAGL
Maintained healthy provisioning % for Stage 2 & 3 Assets despite healthy proportion of partially paying groups

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Business Overview

Annexure

Q4 FY21: Consolidated Performance Highlights

1) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer of INR 112.2 Cr created for FY22

2) 0.61% (INR 75.5 Cr) restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets

FY21: Consolidated Performance Highlights

1) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer of INR 112.2 Cr created for FY22

2) 0.61% (INR 75.5 Cr) restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets

Q4 & FY21: Consolidated P&L Statement

Profit & Loss Statement (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%	FY21	FY20	YoY%
Interest income	612.0	466.5	31.2%	513.2	19.2%	2,290.0	1,629.3	40.6%
- Interest on Loans	602.1	462.5	30.2%	502.2	19.9%	2,251.5	1,595.4	41.1%
- Income from Securitisation	1.0	1.4	-29.1%	3.2	-68.8%	13.0	27.6	-53.0%
- Interest on Deposits with Banks and FIs	8.8	2.6	242.6%	7.8	12.5%	25.6	6.3	304.3%
Income from Direct Assignment	89.0	0.0	-	15.1	-	122.6	41.3	196.5%
Finance Cost on Borrowings	236.9	174.0	36.2%	223.3	6.1%	924.5	578.0	59.9%
Cost on Financial Liability towards Securitisation	0.3	0.3	7.1%	0.9	-62.7%	4.2	0.3	-
Net Interest Income	463.7	292.2	58.7%	304.1	52.5%	1,483.9	1,092.3	35.8%
Non-interest Income & Other Income	25.3	15.7	61.3%	14.7	71.6%	53.5	34.8	53.5%
Total Net Income	488.9	307.8	58.8%	318.8	53.4%	1,537.4	1,127.1	36.4%
Employee Expenses	95.7	70.6	35.6%	95.0	0.8%	380.0	262.0	45.0%
Other Expenses	52.6	36.7	43.1%	43.1	21.9%	161.5	130.6	23.7%
CAGL-MMFL Merger - Transaction Costs	0.0	15.2	-	0.0	-	0.0	15.2	-
Depreciation, Amortisation & Impairment	11.6	5.8	100.8%	10.5	11.4%	44.1	20.4	116.3%
Pre-Provision Operating Profit	329.1	179.5	83.3%	170.3	93.2%	951.8	698.9	36.2%
Impairment of Financial Instruments	138.2	56.1	146.4%	275.7	-49.9%	659.1	154.4	326.9%
Additional COVID-19 Provisions for next FY	112.2	82.9	35.4%	0.0	-	112.2	82.9	35.4%
Profit Before Tax	78.6	40.5	93.9%	-105.3	174.6%	180.4	461.6	-60.9%
Total Tax Expense	22.3	9.7	129.1%	-26.3	184.9%	49.0	126.1	-61.1%
Profit After Tax	56.3	30.8	82.8%	-79.1	171.2%	131.4	335.5	-60.8%
Adj. Profit After Tax	182.7	93.8	94.9%	-79.1	331.1%	260.0	395.7	-34.3%

1) Interest income (on Stage 3 portfolio) de-recognized was INR 19.9 Cr in Q4 FY21 and INR 98.8 Cr in FY21

2) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer created for next financial year (Q4 FY21: INR 112.2 Cr, Q4 FY20: INR 82.9 Cr)

Q4 & FY21: Consolidated Balance Sheet

Balance Sheet (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%
Cash & Other Bank Balances	2,484.4	717.6	246.2%	1,586.9	56.6%
Loans
- Balance sheet assets (Net of Impairment Loss Allowance)	11,707.4	11,004.3	6.4%	11,221.0	4.3%
- Securitised assets	13.1	94.6	-86.1%	32.6	-59.7%
Property, plant and equipment	24.2	31.7	-23.8%	24.9	-2.9%
Intangible assets	164.2	175.5	-6.4%	167.1	-1.7%
Right to use assets	67.5	54.6	23.6%	59.1	14.1%
Other Financial & Non-Financial Assets	281.0	194.3	44.6%	242.0	16.1%
Goodwill	317.6	317.6	0.0%	317.6	0.0%
Total Assets	15,059.2	12,590.2	19.6%	13,651.0	10.3%

Debt Securities	1,675.0	792.6	111.3%	1,502.4	11.5%
Borrowings (other than debt securities)	9,154.5	8,563.1	6.9%	8,045.7	13.8%
Subordinated Liabilities	102.7	103.0	-0.3%	108.5	-5.3%
Financial liability towards Portfolio securitised	9.2	81.0	-88.7%	23.6	-61.1%
Lease liabilities	75.3	61.9	21.7%	65.9	14.4%
Other Financial & Non-financial Liabilities	246.2	145.5	69.2%	203.2	21.1%
Total Equity	3,691.6	2,734.2	35.0%	3,593.1	2.7%
Minority Interest	104.8	109.0	-3.8%	108.6	-3.5%
Total Liabilities and Equity	15,059.2	12,590.2	19.6%	13,651.0	10.3%

---- - ---	Grameen

CAGL	Q4 FY21	FY21	MMFL	Q4 FY21	FY21
Opening ECL - (A)	594.3	265.7	Opening ECL - (A)	95.9	46.6
Additions (B)	135.9	554.2	Additions (B)	36.1	101.3
- Provisions as per ECL	32.5	450.8	- Provisions as per ECL	27.3	92.6
- COVID Buffer for FY22	103.4	103.4	- COVID Buffer for FY22	8.8	8.8
Reversals (on account of write-off) (C)	214.4	304.1	Reversals (on account of write-off) (C)	25.1	41.1
Closing ECL (D = A+B-C)	515.8	515.8	Closing ECL (D = A+B-C)	106.9	106.9
Write-off (E)	278.7	396.91	Write-off (E)	39.2	64.21

P&L Charge (F = B-C+E)	200.2	646.9	P&L Charge (F = B-C+E)	50.2	124.5
1) Includes pre-COVID write-off of INR 118 Cr			1) Includes pre-COVID write-off of INR 24 Cr

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Investment Rationale

Annexure

Q4 FY21: CAGL Standalone Performance Highlights

GLP: INR 11,341 Cr (+14.6% YoY) Proforma GLP5 : INR 11,637 (+17.6% YoY)	NIM 11.3%/ 11.9%1/ 12.5%2 Weighted Avg. COB 8.9%	Cost/Income Ratio 29.2% Opex/GLP Ratio 4.6%	PPOP INR 300 Cr (+75.7% YoY)
PAT: INR 72 Cr (+217.0% YoY) Adj. PAT: INR 194 Cr3 (+125.5% YoY)	ROA/ Adj. ROA3 2.2%/ 6.0% ROE/ Adj. ROE3 8.1%/ 21.7%	Capital Adequacy Ratio 31.8% Tier 1 Ratio 30.5%	Total Equity INR 3,635 Cr D/E Ratio 2.4x
GNPA (GL: 60+ dpd, RF: 90+ dpd) 4.38%4	Provisioning 5.00% (incl. 1% additional COVID buffer) Accelerated Write-off INR 273 Cr	Branches 964 (+3.8% YoY) Employees 10,625 (-1.8% YoY)	Active Borrowers 28.71 Lakh (-1.2% YoY) Proforma Borrowers5 29.63 Lakh (+2.8% YoY)

1) Figures adjusted excluding impact of interest income (on Stage 3 portfolio) de-recognition of INR 16.0 Cr in Q4 FY21

2) Figures adjusted excluding impact of interest income de-recognition and impact of maintaining higher liquidity on balance sheet
3) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer of INR 103.4 Cr created for FY22
4) 0.73% (INR 75.5 Cr) restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets
5) Figures adjusted excluding the impact of accelerated write-offs

FY21: CAGL Standalone Performance Highlights

GLP: INR 11,341 Cr (+14.6% YoY) Proforma GLP5 : INR 11,637 (+17.6% YoY)	NIM 10.8%/ 11.7%1/ 12.1%2 Weighted Avg. COB 9.3%	Cost/Income Ratio 34.8% Opex/GLP Ratio 4.5%	PPOP INR 841 Cr (+21.9% YoY)
PAT: INR 142 Cr (-56.5% YoY) Adj. PAT: INR 265 Cr3 (-31.6% YoY)	ROA/ Adj. ROA3 1.2%/ 2.2% ROE/ Adj. ROE3 4.6%/ 8.6%	Capital Adequacy Ratio 31.8% Tier 1 Ratio 30.5%	Total Equity INR 3,635 Cr D/E Ratio 2.4x
GNPA (GL: 60+ dpd, RF: 90+ dpd) 4.38%4	Provisioning 5.00% (incl. 1% additional COVID buffer) Accelerated Write-off INR 273 Cr	Branches 964 (+3.8% YoY) Employees 10,625 (-1.8% YoY)	Active Borrowers 28.71 Lakh (-1.2% YoY) Proforma Borrowers5 29.63 Lakh (+2.8% YoY)

1) Figures adjusted excluding impact of interest income (on Stage 3 portfolio) de-recognition of INR 86.4 Cr in FY21

2) Figures adjusted excluding impact of interest income de-recognition and impact of maintaining higher liquidity on balance sheet
3) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer of INR 103.4 Cr created for FY22
4) 0.73% (INR 75.5 Cr) restructured assets (99.5% < 30 dpd), continue to be accounted under Stage 3 Assets
5) Figures adjusted excluding the impact of accelerated write-offs

Q4 & FY21: CAGL Standalone P&L Statement

Profit & Loss Statement (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%	FY21	FY20	YoY%
Interest income	510.6	454.4	12.4%	413.0	23.6%	1,877.1	1,617.2	16.1%
Interest on Loans 1 -	504.3	452.0	11.6%	406.8	23.9%	1,858.2	1,611.1	15.3%
- Income from Securitisation	0.0	0.0	-	0.0	-	0.0	0.0	-
- Interest on Deposits with Banks and FIs	6.3	2.4	164.0%	6.1	2.6%	19.0	6.1	208.6%
Income from Direct Assignment	79.3	0.0	-	15.1	426.3%	112.9	41.3	173.1%
Finance Cost on Borrowings	186.0	167.0	11.4%	179.2	3.8%	740.1	571.0	29.6%
Cost on Financial Liability towards Securitisation	0.0	0.0	-	0.0	-	0.0	0.0	-
Net Interest Income	403.8	287.4	40.5%	248.9	62.3%	1,249.9	1,087.5	14.9%
Non-interest Income & Other Income	19.0	6.7	185.9%	12.1	57.3%	41.1	25.8	59.2%
Total Net Income	422.9	294.0	43.7%	261.0	62.0%	1,291.1	1,113.4	16.0%
Employee Expenses	76.2	68.2	11.8%	74.2	2.8%	299.6	259.6	15.4%
Other Expenses	40.5	35.1	15.5%	34.5	17.3%	126.8	129.0	-1.6%
CAGL-MMFL Merger - Transaction Costs	0.0	15.2	-	0.0	-	0.0	15.2	-
Depreciation, Amortisation & Impairment	6.6	5.1	29.4%	5.3	23.8%	23.4	19.6	19.3%
Pre-Provision Operating Profit	299.6	170.5	75.7%	147.0	103.8%	841.2	689.9	21.9%
Impairment of Financial Instruments	96.8	57.8	67.4%	242.4	-60.1%	543.5	156.1	248.1%
Additional COVID Provisions for next FY	103.4	82.9	24.8%	0.0	-	103.4	82.9	24.8%
Profit Before Tax	99.4	29.8	233.1%	-95.4	204.1%	194.3	450.9	-56.9%
Total Tax Expense	27.1	7.0	285.4%	-23.8	213.9%	51.9	123.4	-57.9%
Profit After Tax	72.3	22.8	217.0%	-71.6	200.9%	142.4	327.5	-56.5%
Adjusted Profit After Tax 2	194.3	86.1	125.5%	-71.6	306.0%	265.3	387.7	-31.6%
Key Ratios	Q4 FY21	Q4 FY20		Q3 FY21		FY21	FY20
Portfolio Yield	18.6%	19.6%		16.3%		18.6%	19.4%
Cost of Borrowings	8.9%	9.6%		9.3%		9.3%	10.0%
NIM	11.3%	12.1%		8.7%		10.8%	12.2%
Cost/Income Ratio	29.2%	36.8%		43.7%		34.8%	36.7%
Opex/GLP Ratio	4.6%	4.6%		4.7%		4.5%	4.9%

1) Interest income (on Stage 3 portfolio) de-recognized was INR 16.0 Cr in Q4 FY21 and INR 86.4 Cr in FY21

2) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer (Q4 FY21: INR 103.4 Cr, Q4 FY20: INR 82.9 Cr) created for next financial year

Q4 & FY21: CAGL Standalone Balance Sheet

Balance Sheet (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%	FY21	FY20
Cash & Other Bank Balances	1,946.0	580.4	235.3%	1,322.6	47.1%	1,946.0	580.4
Loans
- Balance sheet assets (Net of Impairment Loss Allowance)	9,717.8	9,172.6	5.9%	9,273.7	4.8%	9,717.8	9,172.6
- Securitised assets	0.0	0.0	-	0.0	-	0.0	0.0
Property, plant and equipment	18.4	24.2	-24.0%	19.2	-4.5%	18.4	24.2
Intangible assets	16.4	12.3	32.6%	16.1	1.5%	16.4	12.3
Right to use assets	66.7	52.9	25.9%	58.1	14.7%	66.7	52.9
Other Financial & Non-Financial Assets	268.9	157.9	70.3%	238.2	12.8%	268.9	157.9
Investment in MMFL	662.7	661.2	-	662.9	0.0%	662.7	661.2
Total Assets	12,696.8	10,661.7	19.1%	11,590.9	9.5%	12,696.8	10,661.7

Debt Securities	1,506.0	638.2	136.0%	1,336.7	12.7%	1,506.0	638.2
Borrowings (other than debt securities)	7,249.7	7,159.4	1.3%	6,464.4	12.1%	7,249.7	7,159.4
Subordinated Liabilities	25.0	25.0	0.0%	25.0	0.0%	25.0	25.0
Financial liability towards Portfolio securitised	0.0	0.0	-	0.0	-	0.0	0.0
Lease liabilities	74.4	60.1	23.7%	64.7	15.0%	74.4	60.1
Other Financial & Non-financial Liabilities	206.9	109.9	88.2%	175.8	17.7%	206.9	109.9
Total Equity	3,634.8	2,669.1	36.2%	3,524.3	3.1%	3,634.8	2,669.1
Total Liabilities and Equity	12,696.8	10,661.7	19.1%	11,590.9	9.5%	12,696.8	10,661.7
Key Ratios	Q4 FY21	Q4 FY20		Q3 FY21		FY21	FY20
ROA / Adj. ROA 1	2.2%/ 6.0%	0.9%/ 3.3%		-2.5%		1.2%/ 2.2%	3.6%/ 4.2%
D/E	2.4	2.9		2.2		2.4	2.9
ROE / Adj. ROE 1	8.1%/ 21.7%	3.4%/ 12.9%		-9.0%		4.6%/ 8.6%	12.9%/ 15.2%
GNPA (GL: 60+ dpd, RF: 90+ dpd)	4.38%	1.49%		6.84%		4.38%	1.49%
Provisioning 2	5.00%	2.78%		5.94%		5.00%	2.78%

1) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer (Q4 FY21: INR 103.4 Cr, Q4 FY20: INR 82.9 Cr) created for next financial year

2) Provisioning including management overlay

Note: O/S Direct Assignment (Sold Portion) - INR 1,118.9 Cr

Focus on dynamic liability management

Focus on long-term funding with a mix of domestic & foreign sources
Target to meet funding requirement through foreign/longer term sources over medium term
Diverse lenders' base:
36 Commercial Banks, 3 Financial Institutions, 9 Foreign Institutional Investors, 2 NBFCs
Strong parentage of CreditAccess India providing access to diverse global lender base

www.creditaccessgrameen.in 22

Q4 FY21: Stable Liquidity / ALM Position Backed by Continued Support from Lenders

Static Liquidity / ALM Position		For the month		For Financial Year
Particulars (INR Cr)	Apr-21	May-21	Jun-21	FY22	FY23
Opening Cash & Equivalents (A)	1,937.8	2,103.6	2,308.9	2,367.1	3,253.0
Loan recovery [Principal] (B)	614.8	585.3	600.1	6,509.4	3,405.1
Total Inflow (C=A+B)	2,552.6	2,688.9	2,909.0	8,876.5	6,658.1

Borrowing Repayment [Principal]
Term loans and Others (D)	363.6	283.7	409.0	4,154.7	2,130.8
NCDs ( E )	0.0	0.0	44.6	491.0	593.0
Securitisation and DA (F)	85.4	96.3	88.3	977.8	394.0
Total Outflow G=(D+E+F)	449.0	380.0	541.8	5,623.5	3,117.8
Closing Cash & equivalents (H= C-G)	2,103.6	2,308.9	2,367.1	3,253.0	3,540.3

Static Liquidity (B-G)	165.8	205.3	58.2	885.9	287.3

Debt Drawdowns (INR Cr)	Q4 FY21
FIs	220.0
Banks – TL	1,869.0
Banks – DA	1,003.8
NCD	195.0
Total	3,287.8

Undrawn Sanctions as on 31st March 2021

INR 2,384 Cr

Sanctions in pipeline as on 31st March 2021

INR 3,785 Cr

		Q4 FY20	Q4 FY21
Rating Instrument	Rating Agency	Rating/Grading	Rating/Grading
	CRISIL	-	A+ (Stable)
Bank facilities	ICRA	A+ (Stable)	A+ (Stable)
	Ind-Ra	-	A+ (Stable)
	CRISIL	-	A+ (Stable)
	ICRA	A+ (Stable)	A+ (Stable)
Non-convertible debentures	Ind-Ra	-	A+ (Stable)
	BWR	-	A+ (Positive)
Subordinated debt	ICRA	A+ (Stable)	A+ (Stable)
Commercial Paper	ICRA	A1+	A1+
Comprehensive Microfinance Grading(Institutional Grading/Code of Conduct Assessment (COCA))	CRISIL/SMERA	M1C1	M1C1
Social Rating	M-CRIL	∑α	∑α
Social Bond Framework	Sustainalytics	Certified	Certified

1) As per SIDBI guidelines, comprehensive Microfinance grading should be done by the same organization (CRISIL is our rating agency)

M1 - Microfinance Institutional Grading – Reflects CRISIL's opinion on the ability of an MFI to conduct its operations in a scalable and sustainable manner

C1 - Social Rating – Expert opinion in the social performance of a financial institution , and likelihood that it meets social goals in line with accepted social values

2) CAGL has developed the Social Bond Framework under which it intends to issue social bonds to global investors. CAGL had engaged Sustainalytics to review the Social Bond Framework, dated November 2019 and provide a second-party opinion on the Framework's social credentials and its alignment with the Social Bond Principles 2018 (SBP). Sustainalytics is of the opinion that the CAGL's Social Bond Framework is credible and impactful and aligns with the four core components of the SBP

Q4 FY21: Robust Quarterly Performance Trend (1/2)

Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21

Cost/Income Ratio Opex/GLP Ratio

Q4 FY21: Robust Quarterly Performance Trend (2/2)

31.4% 31.8%

8.1%

2.2%

-72

-9.0%

-2.5%

Q4 FY21: Strong Business Traction With Rural Focus...

9,397 9,188 8,778 9,810 10,928 ⁴⁹⁹ ⁴⁹² ⁴²⁹ 393 413 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Group Lending Retail Finance 14.6% 10,203 9,896 9,680 9,207

Gross Loan Portfolio (GLP) (INR Cr)

Strong focus on non-urban geographies with 84% borrowers
Group Lending (GL) 96.4%, Retail Finance (RF) 3.6%
GL Loan Usage Animal Husbandry 45.7%, Trading 26.6%, Partly Agri related 15.0%, Production 7.9%, Housing 1.6%, Others 3.2%

10.9 Lakh GL borrowers have completed 3 years, with strong client retention
Collection frequency: GL (57.6% weekly, 39.6% bi-weekly, 2.7% monthly), RF (100% monthly)

Q4 FY21: ...Backed by Consistent Growth In Infrastructure

Branches Kendras (Group Lending) ('000) Employees 858 858 858 858 893 71 71 71 71 71 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Group Lending Retail Finance 929 9,654 9,423 9,579 9,865 9,584 1,170 1,153 1,119 1,047 1,041 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Group Lending Retail Finance -1.8% 10,824 929 10,576 7,505 929 929 964

196 195 195 200 206 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 5.0%

www.creditaccessgrameen.in 29

Q4 FY21: …Along With Sustainable Productivity

www.creditaccessgrameen.in 30

GLP -		Q4 FY20		Q1 FY21		Q2 FY21		Q3 FY21		Q4 FY21
Product Mix	(INR Cr)	% of Total	(INR Cr)	% of Total	(INR Cr)	% of Total	(INR Cr)	% of Total	(INR Cr)	% of Total
IGL	8,447	85%	8,278	86%	8,096	88%	9,381	92%	10,593	93%
Family Welfare	168	2%	146	2%	67	1%	35	0%	23	0%
Home Improvement	770	8%	753	8%	608	7%	388	4%	311	3%
Emergency	13	0%	11	0%	7	0%	5	0%	2	0%
Retail Finance	499	5%	492	5%	429	5%	393	4%	413	4%
Total	9,896	100%	9,680	100%	9,207	100%	10,203	100%	10,203	100%

GLP – Avg. O/S Per Loan (INR '000)	Q4 FY20	Q1 FY21	Q2 FY21	Q3 FY21	Q4 FY21
IGL	22.2	21.9	21.7	25.7	28.9
Family Welfare	3.0	2.7	2.2	2.6	2.6
Home Improvement	8.8	8.8	8.2	8.0	8.6
Emergency	0.6	0.6	0.6	0.5	0.6
Retail Finance	66.5	65.8	59.0	54.3	59.5
Total	17.9	17.8	18.6	23.0	26.9

GLP – Avg. O/S Per Borrower (INR '000)	Q4 FY20	Q1 FY21	Q2 FY21	Q3 FY21	Q4 FY21
Group Lending	33.2	32.8	32.2	35.4	38.9
Retail Finance	67.0	66.3	59.7	56.8	62.3

Portfolio	Q4 FY20			Q1 FY21		Q2 FY21		Q3 FY21	Q4 FY21
Exposure of Districts	No. of	% of Total	No. of	% of Total	No. of	% of Total	No. of	% of Total	No. of	% of Total
(% of Portfolio)	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts
< 0.5%	179	78%	179	78%	179	78%	181	78%	195	84%
0.5% - 1%	19	8%	19	8%	19	8%	17	7%	22	10%
1% - 2%	22	10%	22	10%	23	10%	24	10%	21	9%
2% - 4%	9	4%	9	4%	8	3%	8	3%	9	4%
> 4%	1	0%	1	0%	1	0%	1	0%	0	0%
Total	230	100%	230	100%	230	100%	231	100%	247	107%

Borrowers		Q4 FY20		Q1 FY21		Q2 FY21		Q3 FY21	Q4 FY21
Exposure of Districts	No. of	% of Total	No. of	% of Total	No. of	% of Total	No. of	% of Total	No. of	% of Total
(% of Borrowers)	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts	Districts
< 0.5%	175	76%	175	76%	177	77%	177	77%	192	83%
0.5% - 1%	22	10%	22	10%	20	9%	21	9%	24	10%
1% - 2%	26	11%	26	11%	26	11%	27	12%	25	11%
2% - 4%	7	3%	7	3%	7	3%	6	3%	6	3%
> 4%	-	0%	-	0%	-	0%	-	0%	-	0%
Total	230	100%	230	100%	230	100%	231	100%	247	107%

		Q4 FY20		Q1 FY21		Q2 FY21		Q3 FY21		Q4 FY21
District in terms of GLP	% of Total GLP	Contribution to QoQ Growth %	% of Total GLP	Contribution to QoQ Growth %	% of Total GLP	Contribution to QoQ Growth %	% of Total GLP	Contribution to QoQ Growth %	% of Total GLP	Contribution to QoQ Growth %
Top 1	4%	2%	4%	-5%	4%	-8%	4%	3%	4%	3%
Top 3	12%	7%	11%	-13%	11%	-17%	11%	9%	11%	9%
Top 5	17%	11%	17%	-19%	17%	-19%	17%	14%	16%	14%
Top 10	29%	20%	29%	-29%	29%	-31%	28%	23%	27%	20%
Other	71%	80%	71%	-71%	71%	-69%	72%	77%	73%	80%

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Investment Rationale

Annexure

Q4 FY21: MMFL Performance Highlights

GLP INR 2,246 Cr (+7.0% YoY)	NIM 8.3%/ 9.0%1/ 10.1%2 Weighted Avg. COB 10.7%	Cost/Income Ratio 50.4% Opex/GLP Ratio 6.1%	PPOP INR 33 Cr (-28.3%)
PAT: INR -14 Cr (-154.1% YoY) Adj. PAT: INR -7 Cr3 (-119.0% YoY)	ROA/ Adj. ROA3 -2.1%/ -1.1% ROE/ Adj. ROE3 -13.3%/ -6.7%	Capital Adequacy Ratio 20.9% Tier 1 Ratio 17.7%	Total Equity INR 401 Cr D/E Ratio 5.3x
GNPA (90+ dpd) 4.70%	Provisioning 5.07% (incl. 0.4% additional COVID buffer)	Branches 460 (-0.9% YoY) Employees 3,774 (+2.8% YoY)	Active Borrowers 10.98 Lakh (-9.7%)

1) Figures adjusted excluding impact of interest income (on Stage 3 portfolio) de-recognition of INR 3.9 Cr in Q4 FY21

2) Figures adjusted excluding impact of interest income de-recognition and impact of maintaining higher liquidity on balance sheet

3) Figures adjusted excluding the impact of additional COVID provisioning buffer of INR 8.8 Cr created for FY22

FY21: MMFL Performance Highlights

GLP INR 2,246 Cr (+7.0% YoY)	NIM 10.2%/ 10.8%1/ 11.3%2 Weighted Avg. COB 10.9%	Cost/Income Ratio 49.0% Opex/GLP Ratio 5.7%	PPOP INR 125 Cr (-23.6%)
PAT: INR -0.2 Cr (-100.2% YoY) Adj. PAT: INR 6 Cr3 (-92.7% YoY)	ROA/ Adj. ROA3 -0.01%/ 0.3% ROE/ Adj. ROE3 -0.05%/ 1.6%	Capital Adequacy Ratio 20.9% Tier 1 Ratio 17.7%	Total Equity INR 401 Cr D/E Ratio 5.3x
GNPA (90+ dpd) 4.70%	Provisioning 5.07% (incl. 0.4% additional COVID buffer)	Branches 460 (-0.9% YoY) Employees 3,774 (+2.8% YoY)	Active Borrowers 10.98 Lakh4 (-9.7%)

1) Figures adjusted excluding impact of interest income (on Stage 3 portfolio) de-recognition of INR 12.4 Cr in Q4 FY21

2) Figures adjusted excluding impact of interest income de-recognition and impact of maintaining higher liquidity on balance sheet

3) Figures adjusted excluding the impact of additional COVID provisioning buffer of INR 8.8 Cr created for FY22
4) 1,00,093 customers were written-off in FY21

Q4 & FY21: MMFL P&L Statement

Profit & Loss Statement (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%	FY21	FY20	YoY%
Interest income	101.4	118.0	-14.1%	100.3	1.1%	412.6	454.9	-9.3%
Interest on Loans 1 -	97.9	108.0	-9.4%	96.4	1.6%	393.0	422.3	-6.9%
- Income from Securitisation	1.0	8.8	-88.7%	2.2	-54.8%	13.0	27.6	-53.0%
- Interest on Deposits with Banks and FIs	2.5	1.2	106.1%	1.7	49.2%	6.7	5.0	32.9%
Income from Direct Assignment	9.7	6.2	57.1%	0.0	-	9.7	10.4	-6.6%
Cost on Borrowings	51.8	48.2	7.4%	44.1	17.4%	185.9	185.5	0.2%
Cost on Financial Liability towards Securitisation	0.4	1.9	-78.2%	0.9	-54.8%	4.4	10.0	-55.9%
Net Interest Income	58.9	74.1	-20.5%	55.2	6.6%	232.0	269.8	-14.0%
Non-interest Income & Other Income	6.8	2.7	156.0%	2.6	158.5%	13.0	10.6	22.5%
Total Net Income	65.7	76.8	-14.4%	57.9	13.5%	245.0	280.4	-12.6%
Employee Expenses	19.4	19.3	0.7%	20.8	-6.4%	80.4	67.4	19.3%
Other Expenses	12.7	10.5	21.1%	8.6	47.9%	35.3	38.3	-7.7%
CAGL-MMFL Merger - Transaction Costs	0.0	0.2	-	0.0	-	0.0	6.1	-
Depreciation, Amortisation & Impairment	1.0	1.3	-25.9%	1.1	-6.6%	4.3	5.1	-16.5%
Pre-Provision Operating Profit	32.6	45.5	-28.3%	27.5	18.7%	125.0	163.6	-23.6%
Impairment of Financial Instruments	41.4	12.6	298.5%	33.3	50.9%	124.5	47.3	112.0%
Additional COVID-19 Provisions for next FY	8.8	9.9	-	0.0	-	0.0	9.9	-
Profit Before Tax	-17.6	23.0	-176.7%	-5.8	-202.4%	0.5	106.4	-99.5%
Total Tax Expense	-4.0	-2.1	88.2%	-1.5	-177.2%	0.7	26.7	-97.3%
Profit After Tax	-13.6	25.1	-154.1%	-4.4	-210.8%	-0.2	79.7	-100.2%
Adj. Profit After Tax 2	-6.8	35.9	-119.0%	-4.4	-55.8%	6.4	87.1	-92.7%
Key Ratios	Q4 FY21	Q4 FY20		Q3 FY21		FY21	FY20
Portfolio Yield	18.4%	22.3%		19.4%		19.8%	21.9%
Cost of Borrowings	10.7%	11.7%		10.8%		10.9%	11.6%
NIM	8.3%	12.4%		10.2%		10.2%	11.9%
Cost/Income Ratio	50.4%	40.6%		52.6%		49.0%	39.5%
Opex/GLP Ratio	6.1%	5.9%		5.9%		5.7%	5.5%

1) Interest income (on Stage 3 portfolio) de-recognized was INR 3.9 Cr in Q4 FY21 and INR 12.4 Cr in FY21

2) Figures adjusted excluding the impact of additional COVID provisioning buffer (Q4 FY21: INR 8.8 Cr, Q4 FY20: INR 9.9 Cr) created for next financial year

Q4 & FY21: MMFL Balance Sheet

Balance Sheet (INR Cr)	Q4 FY21	Q4 FY20	YoY%	Q3 FY21	QoQ%	FY21	FY20
Cash & Other Bank Balances	538.4	137.2	292.5%	264.3	103.7%	538.4	137.2
Investment in Mutual Funds	0.0	45.0	-	0.0	-	0.0	45.0
Loans
- Balance sheet assets (Net of Impairment Loss Allowance)	1,989.5	1,832.0	8.6%	1,947.7	2.2%	1,989.5	1,832.0
- Securitised assets	13.1	94.6	-86.1%	32.2	-59.2%	13.1	94.6
Property, plant and equipment	5.8	7.5	-22.9%	5.6	2.7%	5.8	7.5
Intangible assets	1.9	0.9	117.8%	1.0	102.4%	1.9	0.9
Right to use assets	0.8	1.7	-49.8%	1.0	-18.8%	0.8	1.7
Other Financial & Non-Financial Assets	48.6	30.5	59.7%	39.8	22.2%	48.6	30.5
Total Assets	2,598.3	2,149.3	20.9%	2,291.5	13.4%	2,598.3	2,149.3

Debt Securities	168.9	137.3	23.0%	165.5	2.0%	168.9	137.3
Borrowings (other than debt securities)	1,902.9	1,417.6	34.2%	1,578.8	20.5%	1,902.9	1,417.6
Subordinated Liabilities	74.9	74.9	0.0%	80.5	-7.0%	74.9	74.9
Financial liability towards Portfolio securitised	9.2	80.8	-88.7%	23.5	-61.0%	9.2	80.8
Lease liabilities	1.0	1.8	-45.6%	1.2	-17.2%	1.0	1.8
Other Financial & Non-financial Liabilities	40.1	35.3	13.8%	27.2	47.8%	40.1	35.3
Total Equity	401.4	401.6	-0.1%	414.9	-3.3%	401.4	401.6
Total Liabilities and Equity	2,598.3	2,149.3	20.9%	2,291.5	13.4%	2,598.3	2,149.3
Key Ratios	Q4 FY21	Q4 FY20		Q4 FY21		FY21	FY20
ROA/ Adj. ROA1	-2.1%/ -1.1%	4.5%/ 6.4%		-0.8%		-0.01%/ 0.3%	3.6%/ 4.0%
D/E	5.3	4.1		4.4		5.3	4.1
ROE/ Adj. ROE1	-13.3%/ -6.7%	25.6%/ 36.6%		-4.2%		-0.05%/ 1.6%	21.9%/ 23.9%
GNPA (90+ dpd)	4.70%	1.60%		2.79%		4.70%	1.60%
Provisioning2	5.07%	2.35%		4.60%		5.07%	2.35%

1) Figures adjusted excluding the impact of additional COVID provisioning buffer (Q4 FY21: INR 8.8 Cr, Q4 FY20: INR 9.9 Cr) created for next financial year

2) Provisioning including management overlay

Q4 FY21: Quarterly Performance Trend (1/4)

Gross Loan Portfolio (GLP) (INR Cr) Disbursements (INR Cr) 2,100 2,044 1,975 2,118 2,246 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 7.0% PAT (INR Cr) 25 14 4 -4 -14 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 PAT is lower due to additional provisions taken to gradually align MMFL's provisioning with CAGL

Q4 FY21: Quarterly Performance Trend (2/4)

Q4 FY21: Quarterly Performance Trend (3/4)

www.creditaccessgrameen.in 40

Q4 FY21: Quarterly Performance Trend (4/4)

1.1 1.0 1.0 1.0 1.1 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21

Portfolio	Q4 FY20		Q4 FY21
Exposure of Districts	No. of Districts	% of Total	No. of Districts	% of Total
(% of Portfolio)		Districts		Districts
< 0.5%	31	33%	29	30%
0.5% - 1%	23	24%	27	28%
1% - 2%	27	28%	28	29%
2% - 4%	12	13%	11	11%
> 4%	2	2%	1	1%
Total	95	100%	96	100%

Borrowers	Q4 FY20		Q4 FY21
Exposure of Districts (% of Borrowers)	No. of Districts	% of Total Districts	No. of Districts	% of Total Districts
< 0.5%	38	40%	32	33%
0.5% - 1%	20	21%	20	21%
1% - 2%	23	24%	31	32%
2% - 4%	12	13%	11	11%
> 4%	2	2%	2	2%
Total	95	100%	96	100%

	Q4 FY20	Q4 FY21
District in terms of GLP	% of Total GLP	% of Total GLP
Top 1	5%	5%
Top 3	13%	11%
Top 5	19%	17%
Top 10	32%	30%
Others	68%	70%

www.creditaccessgrameen.in 42

Q4 FY21: Diversified Liability, Stable Liquidity, Positive ALM

Liability Mix – Institution / Instrument Wise	Q4 FY21
Banks – Term Loan	49.5%
FIs – Term Loan	14.8%
NBFCs – Term Loan	18.1%
Domestic – NCD	3.9%
Foreign – NCD	3.2%
Sub-Debt	3.3%
Securitisation 1	0.4%
Direct Assignment 1	6.9%

Liability Mix – Tenure Wise	Q4 FY21
<= 2 Years	61%
< 2 & <= 3 Years	10%
< 3 & <=6 Years	29%

Credit Rating	Rating Agency	Rating / Grading
Bank facilities & NCDs	ICRA CARE	A- (OWP) BBB+ (OWP)
Sub- Debt	ICRA	A- (OWP)
MFI	ICRA	M2+

OWP – On watch with positive implication Total 795.5

1) Securitisation Book: INR 9.2 Cr, Direct Assignment (Sold Portion): INR 158.0 Cr

Static Liquidity / ALM Position		For the month
Particulars (INR Cr)	Apr-21	May-21	Jun-21
Opening Cash & Equivalents (A)	538.4	571.0	618.6
Loan recovery [Principal] (B)	179.0	184.6	190.2
Total Inflow (C=A+B)	717.4	755.6	808.8

Borrowing Repayment [Principal]
Term loans and Others (D)	130.6	120.7	99.6
Securitisation and DA (E)	15.8	16.2	14.4
Total Outflow G=(D+E)	146.4	136.9	114.0
Closing Cash & equivalents (H= C-G)	571.0	618.6	694.8

Static Liquidity (B-G)	32.6	47.7	76.2

Debt Drawdowns (INR Cr)	Q4 FY21	Undrawn Sanctions as on 31st March	Sanctions in Pipeline as on 31st March
NBFCs – TL	235.0
Banks – TL	335.0
Banks – DA	125.5	INR 230 Cr	INR 166 Cr
FIs – TL	100.0

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Investment Rationale

Annexure

Investment Rationale

Uniquely positioned to capitalize on the highly underpenetrated credit in rural areas with one of the lowest lending rate & one of the best operating cost efficiency

Leading MFI with Expanded Scale & Footprint (1/2)

2,905 2,871 1,215 1,098 FY17 FY18 FY19 FY20 FY21 2,470 4,055* CAGL MMFL Borrowers ('000) Strengthened Leadership Position with ~ INR 13,587 Cr Portfolio Augmented Borrower Base of ~ 3.9 Mn 1,450 1,851 CAGR 28.2% -3.5% * Excluding Common Borrowers 9,896 11,341 2,100 2,246 FY17 FY18 FY19 FY20 FY21 11,996 GLP (INR Cr) 3,075 4,975 7,159 CAGR 45.0% 13.3% 13,587 3,912*

Consistent Organic (Standalone) Growth Trend (1/3)

Note: Refer Annexure for definition of key ratios

Consistent Organic (Standalone) Growth Trend (2/3)

Note: Refer Annexure for definition of key ratios

* Based on I-GAAP

Consistent Organic (Standalone) Growth Trend (3/3)

www.creditaccessgrameen.in 50

Committed to Micro Finance Business Strong Financial Support

CreditAccess India N.V. (CAI) specialises in Micro and Small Enterprises financing
Widely held shareholding base: 257 shareholders
Olympus ACF Pte Ltd. 15.1%, Asian Development Bank 8.6%, individuals/HNIs/Family Offices 76.3%
Headquartered in Amsterdam, The Netherlands
Invested through multiple rounds of capital funding along with secondary purchase during 2009 to 2017
Displayed trust in our business model post demonetisation by infusing INR 550 Cr in FY17
Provides access to global fundraising opportunities leveraging CAI's network and relationships
Holds 73.99% in CAGL, committed to hold up to the regulatory requirement in future

Customer Centric Business Model (1/2)

Strong focus on client protection in collection, awareness building and grievance resolution

High customer satisfaction 87% Borrower retention rate Portfolio stability with lower loan run-off

Significant growth from existing customer Lower customer acquisition cost

Loan Type	Customer Centric Products	Purpose	Ticket Size (INR)	Tenure (months)
Group	Income Generation Loan(IGL)	Business Investments and Income Enhancement activities	5,000 - 80,000	12-24
Group	Home Improvement Loans	Water Connections, Sanitation and Home Improvement & Extensions	5,000 - 50,000	12-48
Group	Family Welfare Loans	Festival, Medical, Education and Livelihood Improvement	1,000 - 15,000	3-12
Group	Special Situation Loans	Emergencies	2,000	6
Group	Emergency Loans	Emergencies	1,000	3
Individual	Retail Finance Loans	Purchase of inventory, machine, assets or for making capital investment in business or business expansion	Up to 5,00,000	6-60

Cashless shift based on customer's preference

Small loans: Cash/Cashless Larger Loans: Cashless
100% of branches enabled for cashless disbursements
Currently, 90%+ disbursements are on cashless mode
100% cashless in retail finance business

Retail Finance

• Retail Finance was launched in 2016 to support the enhanced credit needs of our graduated customers, making CAGL 'One stop shop' for various customer requirements

Lower exposure to a particular district (98% of districts <=2% of GLP, No single district has > 4% of total GLP)

…Leading To Geographic Diversification

Branch Network	Q4 FY21 CAGL + MMFL	Q4 FY21 % Share
Karnataka	298	20.9%
Maharashtra	279	19.6%
Tamil Nadu	381	26.8%
Madhya Pradesh	120	8.4%
Other States & UTs	346	24.3%
Total	1,424	100.0%

Borrowers ('000)	Q4 FY21 CAGL + MMFL	Q4 FY21 % Share
Karnataka	1,165	29.8%
Maharashtra	841	21.5%
Tamil Nadu	997	25.5%
Madhya Pradesh	325	8.3%
Other States & UTs	583	14.9%
Total	3,912*	100.0%

GLP (INR Cr)	Q4 FY21 CAGL + MMFL	Q4 FY21 % Share
Karnataka	5,194	38.2%
Maharashtra	3,186	23.4%
Tamil Nadu	2,562	18.9%
Madhya Pradesh	1,113	8.2%
Other States & UTs	1,532	11.3%
Total	13,587	100.0%

* Excluding 57,737 (2.0%) Common Borrowers

…And Deeper Presence with Rural Focus

GLP	Q4 FY21 (CAGL + MMFL)			Q4 FY21 (CAGL + MMFL)
Exposure of Districts (% of GLP)	No. of Districts	% of Total Districts	District in terms of GLP	% of Total GLP
< 0.5%	205	77%	Top 1	3%
0.5% - 1%	28	11%
1% - 2%	27	10%	Top 3	9%
2% - 4%	5	2%	Top 5	14%
> 4%	0	0%	Top 10	23%
Total	265	100%	Other	77%

Classical JLG Lending Model

Group Formation Data Entry & CB Check Group Confirmation Kendra Meetings Loan Repayment Loan Disbursal Loan Sanction Loan Evaluation Loan Applications • Group: 5-10 members • Kendra: 2-6 groups • KYC Docs collection • Basic intro about CAGL and processes • Data entry into CBS at RPCs • Credit Bureau check • CGT by LO for 5 days • Re-interviews by BM followed by compulsory house visits • GRT by AM, ad-hoc verifications and group approval • Weekly / Fortnightly meetings • Duration: 30-45 mins • Predominantly weekly collections • Collection updated online on Tab • SL given to customer post group's reconfirmation • Funds transferred to bank account and passbook with repayment schedule • Approval by BM/sanctioning authority • Centralized CB check by HO (typically within 2 days) • Compulsory visit by LO to customer's house • Assessment of repayment capacity • Prepare CFS based on loan type • LAs submitted at Kendra • Subject to Group's approval, LA accepted by LO for further processing • Spot Bureau Check & entry in CBS ✓ First loan for income generation activity only ✓ Mandatory credit bureau checks for every loans ✓ Compulsory home visits prior to acquiring a new customer ✓ Disbursement predominantly to borrower's bank account ✓ Loan utilization check post disbursement

Note: CB: Credit Bureau, CBS: Core Banking System, RPC: Regional Processing Center, CGT: Compulsory Group Training, LO: Loan Officer, BM: Branch Manager, CFS: Cash Flow Statement, AM: Area Manager, LA: Loan Application, HO: Head Office, SL: Sanction Letter, KM: Kendra Meeting

Key Business Updates

Consolidated Results Overview

CAGL: Financial & Operational Metrics

MMFL: Financial & Operational Metrics

Investment Rationale

Annexure

1. Portfolio Yield = (Interest on loans processing fees + Income from securitisation)/ Avg. quarterly on-book loans
1. Cost of Borrowings / Weighted Avg. COB = (Borrowing cost finance lease charges) / Monthly average borrowings
1. Marginal COB = (Borrowings availed during the period * interest rate + processing fees and other charges) / Borrowings availed during the period
1. NIM = (NII processing fees, interest on deposits, income from direct assignment + finance lease charges) / Avg. quarterly on-book loans
1. Cost/Income Ratio = Operating cost / Total Net Income
1. Opex/GLP Ratio = Operating cost / Avg. quarterly GLP
1. ROA = PAT/Avg. Quarterly Total Assets (including direct assignment) (Annualized), ROE = PAT/Avg. Quarterly Total Equity (Annualized)
1. Debt = Debt Securities + Borrowings (other than debt securities) + Subordinated Liabilities
1. GNPA = Stage III (ECL) exposure at default / (Sum of exposure at default of Stage I + Stage II + Stage III)

In the backdrop of COVID-19 pandemic situation in India, CAGL has decided to focus its CSR activities in towards following activities –

Preventive and precautionary activities
Support communities in dealing with COVID-19 issues
Support communities in recovering from COVID-19 infection

The following activities were selected and executed in the COVID-19 affected areas in all CAGL operating states and districts

Distribution of PPE kits N95 mask, sanitizers, hand gloves, shoe rapper, spectacle, gown, cotton and spirit
Distribution of medical kits 50 masks, 50 sanitizers -100ml and 50 pair of hand gloves
Distribution of groceries
Distribution of thermal scanners

Type Of Activity	Target Beneficiaries	Number of Institutions / Locations	Number of Beneficiaries	Number of Kits
Grocery Kits		237	8,919	8,919
Health Kits	Flood affected members, Covid-19 affected customers, CAGL staff and branches, GK Members, Police Stations, Gram Panchayat Staff, Asha	6,272	3,70,522	9,431
PPE Kits/ Quarantine Center Items	Workers, Anganwadi Teachers, Health Centers, Media Offices, General Public, Quarantine Centers, Municipal Office, Tahsildar Office, General Community, Govt. Hospital	8	615	195
Thermal Scanners & Other Items		350	52,294	350
Total		6,867	4,32,350	18,895

State	Estimated Expenditures	Total Amount (INR) (As on 31st Mar, 2021)
Karnataka	76,57,000	87,47,918
Maharashtra	44,20,000	46,49,178
Tamil Nadu	26,20,000	23,38,157
Madhya Pradesh	12,65,000	11,87,841
Chhattisgarh	4,51,000	5,04,775
Odisha	3,85,000	5,41,586
Jharkhand	2,75,000	4,42,025
Bihar	2,20,000	13,03,714
Rajasthan	4,00,000	2,39,021
Gujarat	3,60,000	96,200
Kerala	3,00,000	2,48,150
Uttar Pradesh	1,65,000	1,26,805
Goa	22,000	24,000
Puducherry	20,000	19,471
Grand Total	1,85,60,000	2,04,68,841

*INR 14,69,327 used from Special Fund aside..

Type Of Activity	Target Beneficiaries	Number of Institutions / Locations	Number of Beneficiaries	Number of Kits	State	Total Amount (INR) (As on 31st March, 2021)
Grocery Kits Flood affected members, Covid-19	460	1,707	1,644	Karnataka	50,58,096
				Maharashtra	6,53,783
affected customers, CAGL staff and branches, GK Members, Police Stations, Gram Panchayat Staff, Asha Health Kits Workers, Anganwadi Teachers, Health Centers, Media Offices, General Public, Quarantine Centers,	3,765	1,24,269		Tamil Nadu	1,05,615
			5,219	Madhya Pradesh	7,36,781
				Odisha	1,50,775
	Municipal Office, Tahsildar Office, Thermal General Community, Govt. Hospital 2 Other Items					Bihar	2,02,360
Scanners &			-	-	Kerala	46,000
				Uttar Pradesh	61,800
Total		4,227	1,25,976	6,863	Grand Total	70,15,210

*Additional logistics expenses: INR 58,008 **Hence, Total Navya Disha Expenditure: INR 70,73,218

For Further Queries:

Nilesh Dalvi Head – Investor Relations Contact No – 9819289131 Email ID – [email protected]

CreditAccess Grameen Limited – Fourth Quarter & Full Year FY20-21 Results

Sustained Business Growth Momentum, Improved Asset Quality and Robust Collections Trend

Bengaluru, 6th May 2021: CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, 'CAGL'), country's leading microfinance institution, today announced its audited financial performance for the fourth quarter and financial year ending March 31,2021.

Consolidated Business Highlights:

GLP grew by 13% YoY (from INR 11,996 crore) and 10% QoQ (from INR 12,321 crore) to INR 13,587 crore.
Disbursements grew by 42% YoY (from INR 3,331 crore) and 3% QoQ (from INR 4,590 crore) to INR 4,726 crore. New Disbursals forms 69% of GLP and have been displaying stable asset quality.
Active borrowers declined by 3.5% YoY from 40.55 lakh to 39.12 lakh.
March-21 Collection Efficiency improved to 94% (excl. arrears) / 97% (incl. arrears) for CAGL and 90% (excl. arrears) / 91% (incl. arrears) for MMFL.

Consolidated Financial Highlights: Q4 FY21

Total income grew by 51% YoY from INR 482.1 crore to INR 726.2 crore. NII grew by 59% YoY from INR 292.2 crore to INR 463.7 crore, despite de-recognition of INR 19.9 crore interest income on stage 3 portfolio.
Pre-provision operating profit grew by 83% YoY from INR 179.5 crore to INR 329.1 crore.
Impairment of financial instruments increased from INR 139.0 crore to INR 250.4 crore.
o Strong profitability in Q4 FY21 was utilized to absorb accelerated write-offs and build additional provisioning buffer ahead of FY22.
o Write-offs were INR 317.9 crore (incl. accelerated write-offs of INR 273.4 crore).
o Additional provisioning buffer of INR 112.2 crore on account of COVID-19 pandemic impact.
o Total ECL provisions were INR 622.6 crore (5.01% of loan portfolio) against GNPA of 4.43%.
Despite conservative provisioning and write-offs, Profit After Tax grew by 83% YoY from INR 30.8 crore to INR 56.3 crore.
Adjusted Profit After Tax, excluding the impact of accelerated write-offs and additional COVID buffer, grew by 94.9% YoY from INR 93.8 crore to INR 182.7 crore
Liquidity position remained robust with INR 2,484.4 crore cash & cash equivalents as on 31st March 2021, amounting to 16.5% of total assets.
Healthy capital position with standalone CRAR of 31.8% and consolidated CRAR of 26.8%.
A+ (Stable) Credit Rating affirmed by leading rating agencies in India.

Consolidated Financial Highlights: FY21

Total income grew by 45% YoY from INR 1,705.5 crore to INR 2,466.1 crore. NII grew by 36% YoY from INR 1,092.3 crore to INR 1,483.9 crore, although there is de-recognition of INR 98.8 crore interest income on stage 3 portfolio during the period
Pre-provision operating profit grew by 36% YoY from INR 698.9 crore to INR 951.8 crore.
Impairment of financial instruments increased from INR 237.3 crore to INR 771.3 crore
o Write-offs were INR 461.1 crore (incl. accelerated write-offs of INR 273.4 crore and pre-COVID GNPA of INR 142 crore).
o Additional provisioning buffer of INR 112.2 crore on account of COVID-19 pandemic impact.
Conservative provisioning/ write-offs led to Profit After Tax decline from INR 335.5 crore to INR 131.4 crore.

• Adjusted Profit After Tax, excluding the impact of accelerated write-offs and additional COVID buffer, declined from INR 395.7 crore to INR 260.0 crore.

Key Metrics: FY21
Particulars	CAGL	MMFL
Gross Loan Portfolio (INR Cr)	11,341	2,246
Borrowers (Lakh) *	28.71	10.98
Branches	964	460
Loan Officers	7,451	2,108
Employees	10,625	3,774
* only 57,737 common borrowers
Particulars (INR Cr)	CAGL	MMFL
Net Interest Income (NII)	1,249.9	232.0
Pre-Provision Operating Profit (PPOP)	841.2	125.0
Profit Before Tax (PBT)	194.3	0.5
Profit After Tax (PAT)	142.4	-0.2
Adjusted PAT2	265.3	6.4
Key Ratios	CAGL	MMFL
Net Interest Margin (NIM)	10.8/12.1%1	10.2%/ 11.3%1
Cost/Income Ratio	34.8%	49.0%
Opex/GLP Ratio	4.5%	5.7%
Gross NPA	4.38%	4.70%
Provisioning	5.00%	5.07%
Return on Assets (ROA)	1.2%/ 2.2%2	-0.01%/ 0.3%2
Return on equity (ROE)	4.6%/ 8.6%2	-0.05%/ 1.6%2

1) NIM adjusted excl. impact of interest income de-recognition and maintaining higher liquidity on balance sheet 2) Figures adjusted excluding the impact of accelerated write-offs and additional COVID provisioning buffer created for FY22

Support Measures to help Employees with COVID:

Reimbursement of the vaccination cost for all employees and one immediate family member.
Any employee who is tested positive for COVID, and if not covered under ESIC or Insurance, will receive reimbursement of INR 50,000.
In case of hospitalisation due to COVID, current month salary will be paid in advance. Further, 14 days of quarantine leaves and 28 days of COVID leaves will be granted over and above the sick leaves.
All employees are covered with adequate Mediclaim and life cover.
In case of unfortunate demise of any employee, company will check if any immediate family member can be offered an employment at CAGL, else a monthly contribution for a period of twelve months, equivalent to the last drawn salary, shall be made to the family of the deceased employee.

Commenting on the performance, Mr. Udaya Kumar Hebbar, Managing Director and CEO of CreditAccess Grameen, said, "We recorded 15% YoY and 11% QoQ growth in standalone loan portfolio to INR 11,341 crore with an active borrower base to 28.7 lakh. On consolidated basis including MMFL, loan portfolio grew by 13% YoY and 10% QoQ to INR 13,587 crore with an active borrower base of 39.1 lakh. Our disbursements grew by 42% YoY to INR 4,143 crore at CAGL and 41% YoY to INR 583 crore at MMFL. The new disbursements made during FY21 are displaying stable asset quality which forms 69% of loan portfolio on consolidated basis. Our resilient business model and strong customer connect helped us to increase collection efficiency from 91% in Dec-20 to 94% in Mar-21. Overall collections (including arrears) reached 97% in Mar-21. Even in case of MMFL, collection efficiency improved from 86% in Dec-20 to 90% in Mar-21, and overall collections (including arrears) reached 91% in Mar-21. We continue to

maintain solid liquidity position with INR 2,484.4 Cr cash and cash equivalents amounting to 16.5% of total assets as on 31st March 2021.

While we ended FY21 on a very strong footing with robust business growth and significant improvement in asset quality, the sudden spread of second wave of COVID-19 pandemic has again created a challenging operating environment. We are anticipating the collections to witness a temporary decline in Q1 FY22 on account of several intermittent lockdowns/restrictions being imposed across various states. As a precautionary measure, we have already taken accelerated write-offs and built additional COVID provisioning buffer in FY21. Our focus in these testing times will be on safeguarding the health of our employees and customers. We shall closely evaluate the business impact of the on-going disruptions and use our experience of FY21 to stabilise our business. We will evaluate and support our borrowers using various measures announced by RBI on 5th May 2021. Our strong balance sheet, adequate liquidity and capital position, stable credit rating, and strong relationship with our lenders should enable us to receive continued funding access over coming months. Further our demonstrated capability of managing asset quality stress, witnessed multiple times in the past, backed by our resilient business model coupled with highly experienced stable management team, should give comfort and confidence to our lenders, investors and various stakeholders."

About CreditAccess Grameen Limited

CreditAccess Grameen limited is a leading Indian microfinance institution headquartered in Bengaluru, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company, on consolidated basis, is now operating in 265 districts in the 14 states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand and West Bengal) and one union territory (Puducherry) in India through 1,424 branches. The Company's Promoter is CreditAccess India N.V., a multinational company specializing in MSE financing (micro and small enterprise financing), which is backed by institutional investors and has a micro-lending experience in India over more than a decade.

For more information, please contact:

Nilesh Dalvi Vice President – Investor Relations CreditAccess Grameen Ltd [email protected]

Girish Dikey PR Consultant Ketchum Sampark [email protected]

AI assistant

CreditAccess Grameen Ltd. — Interim / Quarterly Report 2021

62126_rns_2021-05-06_026d71fb-e930-41f2-8c79-f9fe4be64e44.pdf

Sub: Outcome of the Board Meeting held on May 06, 2021:

Sub.: Declaration under Regulation 33 (3)(d) and 52(3)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Chartered Accountants

INDEPENDENT AUDITORS' REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF CREDITACCESS GRAMEEN LIMITED

Opinion

(a) Opinion on Annual Standalone Financial Results

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2021

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021

Emphasis of Matter

Management's Responsibilities for the Statement

Auditors' Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2021

Other Matters

Chartered Accountants

INDEPENDENT AUDITORS' REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF CREDITACCESS GRAMEEN LIMITED

Opinion and Conclusion

(a) Opinion on Annual Consolidated Financial Results

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2021

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2021

Emphasis of Matter

Management's Responsibilities for the Statement

Auditors' Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2021

(b) Review of the Unaudited Consolidated Financial Results for the quarter ended March 31, 2021

Other Matters

For Deloitte Haskins & Sells

CreditAccess Grameen Limited Q4 & FY21 Investor Presentation May 2021

Disclaimer

Discussion Summary

Key Business Updates

Microfinance Organisation of the Year

India's 30 Best Workplaces in BFSI – 2021

Balancing Robust Business Growth and Early Risk Recognition

Business Growth Momentum Maintained in Q4 FY21

GLP grew by 13% YoY and 10% QoQ to INR 13,587 Cr

Borrowers declined by 3.5% YoY to 39.121 Lakh

Disbursements grew by 42% YoY and 3% QoQ to INR 4,726 Cr

Gradual pick-up in monthly collections (excl. arrears/ incl. arrears)

Early Risk Recognition and Conservative Provisioning

CAGL: Continued focus on early risk recognition & provisioning

MMFL: Gradual Alignment of Provisioning Policy with CAGL

Strong profitability in Q4 FY21 was utilized to absorb accelerated write-offs and build additional provisioning buffer ahead of FY22

Strong Balance Sheet Position to Enable Consistent Growth in Future

Adequate Liquidity & continued support from lenders

Healthy Capital Position even after early risk recognition and provisioning

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MoM Improvement in Collection Efficiency

Significant Containment of Asset Quality Stress (CAGL)

CAGL adopts conservative approach leading to early recognition of risk backed by accelerated provisioning coverage

Update on Collections & Provisioning at MMFL

Consolidated Results Overview

Q4 FY21: Consolidated Performance Highlights

FY21: Consolidated Performance Highlights

Q4 & FY21: Consolidated P&L Statement

Q4 & FY21: Consolidated Balance Sheet

Q4 FY21: CAGL Standalone Performance Highlights

FY21: CAGL Standalone Performance Highlights

Q4 & FY21: CAGL Standalone P&L Statement

Q4 & FY21: CAGL Standalone Balance Sheet

Focus on dynamic liability management

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Q4 FY21: Stable Liquidity / ALM Position Backed by Continued Support from Lenders

Q4 FY21: Robust Quarterly Performance Trend (1/2)

Q4 FY21: Robust Quarterly Performance Trend (2/2)

Q4 FY21: Strong Business Traction With Rural Focus...

Q4 FY21: ...Backed by Consistent Growth In Infrastructure

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Q4 FY21: …Along With Sustainable Productivity

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Q4 FY21: MMFL Performance Highlights

FY21: MMFL Performance Highlights

Q4 & FY21: MMFL P&L Statement

Q4 & FY21: MMFL Balance Sheet

Q4 FY21: Quarterly Performance Trend (1/4)

CreditAccess Grameen Ltd. Interim / Quarterly Report 2021

Borrowers declined by 3.5% YoY to 39.12¹ Lakh