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February 06, 2025

To,

BSE Limited

Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai 400001

National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Scrip Code: 544055

Scrip Code: MUTHOOTMF

Dear Sir/Madam,

Sub: Investor Presentation for the Quarter and Nine Months ended December 31, 2024 – Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Listing Regulations, we hereby submit Investor Presentation on Unaudited Financial Results of the Company for the quarter and nine months ended December 31, 2024.

Kindly take the same on records.

Thanking you,

Yours faithfully, For Muthoot Microfin Ltd

Digitally signed by NEETHU AJAY Date: 2025.02.06 20:08:18 +05'30'

NEETHU AJAY

Neethu Ajay,

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Chief Compliance Officer and Company Secretary

Ernakulam

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Investor Presentation

Q3 FY’25

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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 Muthoot Microfin Ltd 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 the 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 that the Company believes to be reasonable in the 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 regimes, 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 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.

No representation, warranty, guarantee, or undertaking (express or implied) is made as to, and no reliance should be placed on, the accuracy, completeness, or correctness of any information, including any projections, estimates, targets, opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein and, accordingly, none of the Company, its advisors and representative and any of its or their affiliates, officers, directors, employees or agents, and anyone acting on behalf of such persons accepts any responsibility or liability whatsoever, in negligence or otherwise, for any loss or damage, direct, indirect, consequential or otherwise arising directly or indirectly from use of this presentation or its contents or otherwise arising in connection therewith. This presentation is based on information regarding the Company and the economic, regulatory, market, and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither the Company nor its advisors or representatives are under an obligation to update, revise or affirm.

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, 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 Ernakulam , Kerala, and no other courts shall have jurisdiction over the same.

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MPG - Legacy of 138+ years of history

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Other
bussiness
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Thomas Muthoot

Chairman & Non-Executive Director, MML

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Present across microfinance, gold finance, two-wheeler finance, and housing finance
Muthoot Microfin Limited (MML) is the
2nd Largest company by AUM under the
Muthoot Pappachan Group.
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Thomas John Muthoot Thomas John Muthoot Chairman, Muthoot Pappachan Group

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Thomas George Muthoot
Non-Executive Director, MML
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Note:

1. Among the top 10 NBFC MFI in India (Source: CRISIL Report)

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Journey So Far

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2024
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• Raised USD 128Mn via ECB. • Entered Telangana and Andhra Pradesh State 2023 The IPO of Muthoot Microfin was launched in Dec-23, witnessed a big interest from investors and was 2022 subscribed by 11.52 times.

Launched the ‘Mahila Mitra’ app • AUM Crossed ₹50,000 Mn

• Raised ₹1.9 Bn f rom GPC through preferential allotment The IPO of Muthoot Microfin was launched in Dec-23, 2021 witnessed a big interest from investors and was • Raised ₹2,200 Mn in a rights issue f rom existing 2022 subscribed by 11.52 times. investors – MFL: ₹351 Mn, Creation: ₹251 Mn, Individual • Raised ₹1.9 Bn and ₹818 Mn f rom GPC in Promoters: ₹1,567 Mn, Others: ₹31 Mn two separate rounds during the year • Raised an additional ₹300 Mn f rom Creation • CRISIL upgraded the rating to A+ (Stable) • Crossed 2 Mn active customers 2018 • Crossed 1,000 branches 2019 CRISIL upgraded the rating to A (Stable) for bank facilities and debt instruments 2017 RBI granted NBFC-MFI status with effect from Crossed 1Mn clients Raised ₹ 150 Mn and ₹ 350 Mn March 25, 2015 f rom Creation in two separate rounds during the year 2015 2016 Raised ₹500 Mn f rom Creation 2011 Company was acquired by promoters of “Muthoot Pappachan Group” Cumulatively promoters have infused Rs. 3,421 million into MML

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Brand Recall and Synergies with the Muthoot Pappachan Group

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Target Customer
segment of group
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3.42Mn
Client Base
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entry into formal financial institution for BoP clients

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5Mn 0.5Mn 35K
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Customer can progressively graduate to gold loans, vehicle finance and affordable housing

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Synergies
with MPG
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History of MPG in working with target customers helps understand the needs of women in rural households & design lending products as per their requirements

Expansion of customer base and geographical footprint

Leveraging MFL’s branches and expertise in cash management, gold assessment and storage

MPG is in process of developing a single platform to allow access to all the Group’s loan offerings thus maximizing cross-sell opportunities

MPG provides MML with Brand recall and significant marketing and operational benefits; MML leverages cross-selling opportunities to offer diverse products to meet multiple needs of target customers

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Strong Corporate Governance and Support from Promoters & Investors

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Shareholding as of 31st Dec'24
Institutions
Foreign, 3.04%
Institutions
Domestic, 2.45%
Non institutions,
14.55%
ESOP, 1.73%
MFL, 50.21%
Creation, 7.63%
GPC , 15.13%
Individual
Promoters, 5.26%
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Promoters have countinued to retain ownership & Control over the business[1]

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Statutory
Auditor
Internal
Auditor
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Promoter Group Directors

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Thomas Muthoot Thomas George Muthoot Thomas Muthoot John
Chairman & Non-Executive Non Executive Director Executive Director
Director
Exp: 38+ years Exp: 38+ years
Exp: 14+ years
Muthoot Pappachan Group Muthoot Pappachan Group
Muthoot Pappachan Group
HDFC Bank
Non-Independent Directors
Akshaya Prasad John Tyler Day
Non-Executive Director Non Executive Director
Exp: 23+ years Exp: 13+ years
Greater Pacific Capital, Creation Investments
Goldman Sachs
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Independent Directors
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Thai Salas Vijayan
Non-Executive Independent
Director
LIC, IRDAI, Shriram Properties
Alok Prasad
Non-Executive Independent
Director
Exp: 35+ years
RBI, NHB, Citicorp
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Bhama Krishnamurthy Pushpy Babu Muricken Non-Executive Independent Non-Executive Independent Director Director Exp: 41+ years Exp: 17+ years SIDBI, Catholic Syrian Bank Joyalukkas, NASSCOM

Anil Sreedhar Non-Executive Independent Director Exp: 24+ years GBS Plus, Adra Biotechnologies

Note: 1. Among the top 10 NBFC-MFIs in india (Source : CRISIL Report)

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Key Managerial Personnel

Key Management Personnel and Senior Management Personnel

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Field Monitors- Other Departments Regional Office
1,193 272
Employee Mix [1]
Head Office
Field Monitors- Operation Team
314
378
Area Office Managers
436
15,691 Loan Officer
9,197
Branch Management
Staff
3,901
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Awards & Recognition

Quantic Business Media CX Excellence Award for "Best Use of Mobile App to deliver customer service" Awarded 'Microfinance Company of the Year' at the ET Business Awards 2024.

Certified as a 'Great Place to Work' for the fifth time by the Great Place to Work Institute, India. Received Corporate Agency License Awarded Best Cyber Security Initiative Award from Banking Frontiers DNA Awards 2024. Awarded Innovative Customer Service at the CX Excellence Awards 2024. Awarded Annual BFSI Technology Excellence Awards 2024

Note: 1. Employee Data as on Dec 31, 2024 The employee composition displayed in the chart excludes 394 loan officers on the Team Lease payroll.

Awarded National Achiver Award at the 25th National Bussines Conclave

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Operational Highlights – Q3FY’25
Active Clients
AUM
3.42 Mn
GNPA
1,24,049 Mn (+4.5% YoY)
(-0.4% QoQ)
3.03%
(+8.3% YoY) Branches
(-0.9% QoQ)
(+74 bps YoY)
(+33 bps QoQ)
1,651 Nos
(+15.9% YoY)
(+3.6% QoQ)
CE²
Disbursement
93%
NNPA¹
20,351 Mn
(-5.8% YoY)
(-21.5% YoY) Employees (-2.6% QoQ) 1.27%
(-23.9% QoQ)
15,691 CE including Pre-Closure (+40 bps YoY)
(+30 bps QoQ)
95%
(+20.1% YoY)
(+5.4% QoQ) (-6.2% YoY)
(-2.8% QoQ)
Note :
1. NNPA % represent Net NPA % (Net of Stage 3 Provision). Net NPA % (Net of Total provision)
is 0.34%, 0.33% & 0.10% for Q3 FY’25, Q3 FY’24 & Q2 FY’25 respectively.
2. CE figures are displayed for Q3 FY’25.
3. Arrow indicators are showing the YoY growth
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Financial Highlights – Q3FY’25
Income
Cost to Income Ratio
INR 6,814 Mn Equity
43.20%
PPOP
(+17.7% YoY)
(-546 bps YoY) INR 30,090 Mn
(+2.8% QoQ)
(-125 bps QoQ)
INR 2,523 Mn
(+12.4% YoY)
(+0.3% QoQ)
(+39.6% YoY)
(+6.7% QoQ)
NIM COF
INR 4,202 Mn PAT 11.07%
CAR
(+23.1% YoY) (-14 bps YoY)
(+5.5% QoQ) INR 38.0 Mn (-1 bps QoQ)
30.51%
(-96.9% YoY) Incr. COF
(+94 bps YoY)
(-93.8% QoQ) 10.31%
(+200 bps QoQ)
• Arrow indicators are showing the YoY growth
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Financial Highlights – 9M FY’25
Income
Cost to Income Ratio
INR 20,082 Mn ROA
43.27%
PPOP
(+24.7% YoY)
(-389 bps YoY) 1.93%
(16,102 Mn)
(47.16%)
INR 7,373 Mn
(-232 bps YoY)
(4.25%)
(+43.1% YoY)
(5,151 Mn)
NIM NIM %
INR 12,301 Mn PAT [1] 13.07%
ROE
(+28.5% YoY) (+44 bps YoY)
(9,575 Mn) INR 1,786 Mn (12.63%)
8.20%
(-45.8% YoY)
(-1613 bps YoY)
(3,298 Mn)
(24.33%)
1. PAT is after providing for management overlay of 31 Cr for Macro economic factors which is over and above ECL provisioning.
2. Arrow indicators are showing the YoY growth
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Key Operational & Financial Highlights

Operation & Financial Performance	Q3FY25	Q3FY24	YoYGrowth	Q2FY25	QoQ Growth
Assets Under Management(in mns)	1,24,048.9	1,14,581.4	8.26%	1,25,185.1	-0.91%
Branches(Count)	1,651	1,424	15.94%	1,593	3.64%
Total number of staff(Count)	15,691	13,067	20.08%	14,884	5.42%
No. of Active members(Count) (in mns)	3.4	3.3	4.47%	3.4	-0.42%
Net worth(in mns)	30,090.1	26,777.1	12.37%	30,005.5	0.28%
CRAR	30.51%	29.57%	+94 bps	28.51%	+200 bps
Cost of Borrowing (COF)	11.07%	11.21%	-14 bps	11.06%	+1 bps
Incremental COF	10.31%	10.41%	-10 bps	10.38%	-7 bps
Debt/Equity	2.77	3.00	-7.67%	2.80	-1.07%
GNPA Ratio	3.03%	2.29%	+74 bps	2.70%	+33 bps
NNPA Ratio(Net of totalprovision)	0.34%	0.33%	+01 bps	0.10%	+24 bps
NNPA Ratio(Net of Stage IIIprovision)	1.27%	0.87%	+40 bps	0.97%	+30 bps
Provision Coverage(Net of totalprovision)	88.96%	85.96%	+300 bps	96.42%	-746 bps
Provision Coverage(Net of Stage IIIprovision	58.72%	62.37%	-365 bps	64.80%	-608 bps
Quarterly Performance	Q3FY25	Q3FY24	YoYGrowth	Q2FY25	QoQ Growth
Total income(in mns)	6,814.5	5,791.0	17.67%	6,630.3	2.78%
NIM(in mns)	4,202.4	3,413.1	23.13%	3,983.4	5.50%
PPOP(in mns)	2,522.9	1,807.3	39.60%	2,364.5	6.70%
PAT(in mns)	38.0	1,245.7	-96.95%	616.1	-93.83%
Revenue from Operation(%)	20.68%	20.23%	+45 bps	20.87%	-19 bps
Net Interest Margin(%)	13.26%	12.48%	+78 bps	13.34%	-8 bps
Opex Ratio(%)	6.13%	5.95%	+18 bps	6.13%	+0 bps
ProvisioningCost(%)	7.89%	1.72%	+617 bps	5.11%	+278 bps
Cost to Income Ratio	43.20%	48.66%	-546 bps	44.45%	-125 bps
PAT/ROA(%)	0.12%	4.47%	-435 bps	2.00%	-188 bps
TCI/ROA(%)	0.24%	4.63%	-439 bps	2.41%	-217 bps
ROE(%)	0.50%	25.97%	-2547 bps	8.30%	-780 bps
YTD Performance	9MFY25	9MFY24	YoYGrowth
Total income(in mns)	20,082.2	16,102.0	24.72%
NIM(in mns)	12,301.0	9,574.8	28.47%
PPOP(in mns)	7,373.4	5,151.0	43.15%
PAT(in mns)	1,786.2	3,298.2	-45.84%
Revenue from Operation(%)	20.56%	20.66%	-10 bps
Net Interest Margin(%)	13.07%	12.63%	+44 bps
Opex Ratio(%)	6.08%	5.94%	+14 bps
ProvisioningCost(%)	5.44%	1.42%	+402 bps
Cost to Income Ratio	43.27%	47.16%	-389 bps
PAT/ROA(%)	1.93%	4.25%	-232 bps
TCI/ROA(%)	2.13%	4.38%	-225 bps
ROE(%)	8.20%	24.33%	-1613 bps

AUM remained flat sequentially at Rs124,049 mn. The company slowed disbursements from Rs26,738 mn in Q2,FY25 to Rs20,351mn in Q3,FY25, as the company continued its structured approach aligned with heightened overleveraging concerns, tightening of guardrails and elevated industry stress.
Reduced lending rates by 25 bps for income-generating loans (IGL) and by 125 bps for third-party product loans (TPP) in Q3FY25; bringing the total reduction in IGL to 115 bps since January 2024. In spite of rate cut, company managed higher NIM at 13.26%, up 78bps YoY driven by steady portfolio yield and lower cost of borrowings.
Cost to Income ratio declined 546bps YoY and 125bps QoQ even as the company expanded scale while continuing to invest more in collections and underwriting teams due to improved NIMs and operating efficiencies. The company had put in place various initiatives including the Credit Vertical, Score Card based lending, dedicated collections team long before any signs of stress emerged, helping it navigating the current challenges better. The company expects Opex to be within the guided range for FY25.
The company had implemented the Guardrails 1.0 w.e.f 07.08.2024 and Guardrails 2.0 w.e.f 01.01.2025 and notes positive impact in its lender mix. Permitted portfolio i.e. Portfolio with Unique/MML+1 and MML +2 borrowers now accounts for 80.9% (up 530bps QoQ).
As of Dec, MML’s share of unique borrowers has increased to 34.8% from 32.9% in Sep’24. Further, Portfolio share of MML+4&above borrowers had registered sharp decline from 10.9% in Sep to 7.1% in Dec positioning it amongst the lowest in the industry. As, the company calibrates its disbursements, it expects to see sustained reduction in MML+3/4 borrower mix. Borrowers with >2L indebtedness now account for 2.2% vs 3.8% in Sep.
Credit costs were elevated as due to increase in delinquencies driven by industry stress. The company continued to showcase strong resilience to the climatic events such as floods and cyclones and has promptly raised NATCAT claims that will help 73.4k customers affected during the quarter.

Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Consistent Growth

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AUM (Mn) 0.9% QoQ
1,25,185
1,24,049
1,21,935 1,22,103
1,14,581
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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The AUM grew by 8% YOY, from Q3 FY24 to Q3 FY25. However, a marginal decline of 0.9% was observed QOQ, primarily attributed to reduced disbursements following the implementation of new MFIN guidelines and other prevailing industry challenges.

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NTM & NTC Client Count (Lks)
NTM (Lks) NTC % on NTM
2.5
2.1
1.5 1.5
1.1
20% 16% 19% 17% 25%
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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The share of existing customers has increased compared to the previous quarter. A more selective customer acquisition strategy has resulted in a higher proportion of disbursed customers with improved lender diversity and better-controlled levels of indebtedness. The share of disbursements with zero lenders (excluding MML) increased from 24% to 28%, while the share with up to two lenders (excluding MML) rose from 66% to 79% between Q1 FY 25 and Q3 FY 25.

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Disbursement (Mn) 23.9% QoQ
28,879
25,921 26,738
22,043
20,351
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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Despite a decline in disbursements both QOQ and YOY (~24% & -21%), MML has achieved a significant increase in market share within its operating states, rising to 11.49% from 7.24% at the close of FY’24. This highlights MML’s strong performance and resilience, outperforming the industry amid prevailing market challenges.

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AUM Split ETM & NTM Clients
NTM Existing
39%
49% Q3 FY'24 51% Q3 FY'25
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Aligned with the recent strategy of balancing growth with customer retention, the overall share of existing customers has increased to 61% in Q3 FY'25, compared to approximately 51% in Q3 FY'24.

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Clients (Mn) 0.6% QoQ
Client (Lks) Avg OS/Client ('000)
3.40 3.44 3.42
3.35
3.28
35 36 36 36 36
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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Client growth has been modest YOY at 4%, with a slight QOQ decline of 0.6%. This reflects a deliberate focus on retaining and sustaining existing customers during the quarter, given market trends indicating higher delinquency risks among lower vintage customers.

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Client Retention
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96% 96% 96% 96%
94%
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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In Q3 FY'25, a strong retention rate of 96% was maintained, consistent with Q1 & Q2. This reflects steady customer loyalty and aligns with the data-driven strategy of fostering a high-quality customer base, supporting a sustainable and low-risk business model.

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Resilient Business Model – Proven over time

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Kerala Floods Karnataka Crisis Covid Wave 1 Covid Wave 2
2019 2020 2020 2021
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TN Floods & PB Karza Mukti Heat wave, Flood & Election TN, BH, WB & OD 2024 2024 Floods & Fengal cyclone 2024

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2024
1,25,185
1,22,103 1,24,049
1,21,935
1,08,671
92,083
74,495
62,550
49,867
48,386 47,894
46,494 44,739
7.55% 7.39% 8.83%
4.59% 4.45% 6.26% 3.03%
3.26% 2.70%
2.97%
2.37% 2.29% 2.10%
H1 FY’20 H2 FY’20 H1 FY’21 H2 FY’21 H1 FY’22 H2 FY’22 H1 FY’23 H2 FY’23 H1 FY’24 H2 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
AUM (Mn) GNPA
Natural calamities – Fengal Cyclone & Flood impacted loans
StateName Impacted Loans # NATCAT Covered NATCAT Cover % NATCAT Settled NATCAT Settled %
TAMILNADU 50,928 50,928 100% 16,816 33.0% Natural Calamities: Recent natural disasters, including the Fengal Cyclone
BIHAR 10,279 10,279 100% 9,869 96.0% and subsequent floods in Q3 FY’25, have impacted a considerable number
of loans. However, 100% of these loans are covered by NATCAT insurance,
WEST BENGAL 3,221 3,221 100% 2,482 77.1% providing strong support for our affected customers. We are actively
ODISHA 805 805 100% 781 97.0% processing claims and aim to settle them promptly. As of today, 45.8% of
Other States 8,120 8,120 100% 6,409 78.9% claims have been settled.
Total 73,353 73,353 100% 36,357 49.6%
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Natural calamities – Fengal Cyclone & Flood impacted loans

Natural Calamities: Recent natural disasters, including the Fengal Cyclone and subsequent floods in Q3 FY’25, have impacted a considerable number of loans. However, 100% of these loans are covered by NATCAT insurance, providing strong support for our affected customers. We are actively processing claims and aim to settle them promptly. As of today, 45.8% of claims have been settled.

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Strategic re-alignment through Diversification

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Portfolio Concentration (Region-wise Trend)
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12% 12% 12% 12% 13%
14% 15% 15% 14% 14%
23% 23% 23% 24% 24%
51% 50% 50% 50% 49%
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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Disbursement Spread (Region-wise Trend)

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11% 11% 12% 13% 14%
16% 17% 13% 13% 14%
23% 24% 24% 23% 25%
50% 48% 51% 51%
47%
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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The portfolio and disbursement share of our key markets has been intact; in-spite of recent challenges leading to balanced growth with South still holding 49% of the portfolio and disbursement share providing stability to growth and portfolio quality

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Consistent Rural Penetration (AUM)
Number of Branches Per State
97.2%
96.7% 96.4% 96.4%
96.3%
Q3 Q4 Q1 Q2 Q3
FY’24 FY’24 FY’25 FY’25 FY’25
Top 1 3%
Top 3 7%
Top 5 12%
Top 10 19%
Other 81%
Exposure of Districts (% of GLP)
5, 1.32%
10, 2.64%
0, 0%
46, 12.14%
379 Districts
1,651 Branches
318, 83.90%
<0.5% 0.5% - 1% 1% - 2% 2% - 3% >3%
No of Districts, % of Total Districts Note : We are operating from 379 districts and serving clients in
~642 districts across pan India.
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Top 5 States Performance
DISBURSEMENT (Mn) AUM (Mn)
Q4 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25 Q4 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
TN KL BH KA UP ROI TN KL BH KA UP ROI
CE% GNPA
Q4 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25 Q4 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
TN KL BH KA UP ROI
TN KL BH KA UP ROI
8,828
7,960 38,869
37,945
6,915 6,921 36,935 36,811
5,710 6,666 6,058 31,151 31,453 32,304 31,470
4,697
4,416
4,246
3,443 3,440 19,117 18,632 18,632 17,921
3,140
2,474 2,705 2,156 2,546 2,097 2,680 2,734 2,262 2,480 2,025 12,842 13,005 13,261 13,164 11,299 11,333 11,754 11,205 10,592 10,869 11,289 11,420
1,412
4.4%
4.1% 4.1%
98.4% 96.9% 96.4% 95.5% 99.8% 97.8% 98.1% 99.1% 98.8% 97.1% 94.3% 99.8% 98.7% 97.6% 93.3% 97.8% 95.7% 92.8% 94.5% 92.7% 93.2% 3.6%
88.4% 89.3% 89.2% 3.5%
3.0%
2.9%
2.7%
2.5%
2.3%
2.1% 2.1%
2.0% 2.0% 2.0%
1.6% 1.7% 1.8% 1.6% 1.8% 1.7% 1.8%
1.1%
0.8%
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CE Performance- Overall & X Bucket Collection

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Overall CE%
TAMILNADU KERALA BIHAR UTTAR PRADESH KARNATAKA ROI
Q1'25 Q2'25 Q3'25
Regular CE%
TAMILNADU KERALA BIHAR UTTAR PRADESH KARNATAKA ROI
Q1'25 Q2'25 Q3'25
99.1%
98.7%
97.8% 98.1% 97.6%
96.9% 97.1%
96.4%
95.5% 95.7%
94.3%
93.3% 93.2%
92.8% 92.7%
89.3% 89.2%
88.4%
101.2% 102.2% 102.2% 100.9% 100.8%
99.6% 99.8% 99.2% 99.6% 99.0% 97.5% 99.9% 98.6% 97.9% 98.7% 99.3% 99.8% 98.2%
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Overall CE% - Q3 Monthwise
TAMILNADU KERALA BIHAR UTTAR PRADESH KARNATAKA ROI
Oct'24 Nov'24 Dec'24
December 2024 shows
strong growth in CE,
reflecting a positive
Regular CE% Q3 Month wise upward trend and
aligning with broader
industry patterns.
TAMILNADU KERALA BIHAR UTTAR PRADESH KARNATAKA ROI
Oct'24 Nov'24 Dec'24
97.2% 93.9% 95.4% 99.8% 98.8% 98.8% 93.2% 88.1% 96.5% 88.6% 97.8% 90.5% 91.4% 93.5% 89.3%
84.1% 82.9% 84.9%
102.1% 102.5% 102.2%
99.6% 98.7% 99.4% 97.5% 96.2% 99.0% 98.4% 97.0% 98.4% 99.7% 98.0% 98.3% 96.9% 98.5% 99.2%
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Note: The increase in Oct-24 CE is due to advance collections taken for the Nov-24 Diwali holidays. Normalizing the CE, Oct-24 would be 93.8%, and Nov-24 CE would rise to 91.7%.

et Quality 1/6 Slab Loan Assets (Gross) ECL Loan Assets (Gross) (%) ECL (%) Stage 1 90,343.04 538.52 92.95% 0.60% Stage 2 3,907.78 352.20 4.02% 9.01% Stage 3 2,945.82 1,729.80 3.03% 58.72% Total 97,196.65 2,620.53 100.00% 2.70% GNPA 3.03% NNPA 1.27% (in mns) Provision as ECL Model 2,308.1 Management Overlay 312.4 Total Provision as per IND AS 2,620.5 IRAAC Provision 1,349.3 Difference in ECL vs IRAAC 1,271.3	et Quality 1/6 Slab Loan Assets (Gross) ECL Loan Assets (Gross) (%) ECL (%) Stage 1 90,343.04 538.52 92.95% 0.60% Stage 2 3,907.78 352.20 4.02% 9.01% Stage 3 2,945.82 1,729.80 3.03% 58.72% Total 97,196.65 2,620.53 100.00% 2.70% GNPA 3.03% NNPA 1.27% (in mns) Provision as ECL Model 2,308.1 Management Overlay 312.4 Total Provision as per IND AS 2,620.5 IRAAC Provision 1,349.3 Difference in ECL vs IRAAC 1,271.3	Particulars Q3FY25 9MFY25 Opening ECL (A) 2,617.29 1,878.55 Additions (B) - Provisions as per ECL 1,459.70 2,687.67 - Additional Management - 312.42 Reversals (on account of write-offs and ARC) (C) 1,456.46 2,258.11 Closing ECL (D = A+B-C) 2,620.53 2,620.53 Writeoff including waivers (D) 211.49 954.68 Provision for impairment on loan assets (E) 1,459.27 3,033.14 Baddebts Recovered (F) 28.50 84.67 Net Credit Cost (G = D+E-F) 1,642.27 3,903.15 Net Loss on derecognition of financial instrument (ARC transaction) (H) 830.01 1,142.17 Total Impairment Cost, including Loss on Derecognition of Financial Asset (ARC Transaction) (I = G+H) 2,472.28 5,045.31	Particulars Q3FY25 9MFY25 Opening ECL (A) 2,617.29 1,878.55 Additions (B) - Provisions as per ECL 1,459.70 2,687.67 - Additional Management - 312.42 Reversals (on account of write-offs and ARC) (C) 1,456.46 2,258.11 Closing ECL (D = A+B-C) 2,620.53 2,620.53 Writeoff including waivers (D) 211.49 954.68 Provision for impairment on loan assets (E) 1,459.27 3,033.14 Baddebts Recovered (F) 28.50 84.67 Net Credit Cost (G = D+E-F) 1,642.27 3,903.15 Net Loss on derecognition of financial instrument (ARC transaction) (H) 830.01 1,142.17 Total Impairment Cost, including Loss on Derecognition of Financial Asset (ARC Transaction) (I = G+H) 2,472.28 5,045.31	Particulars Q3FY25 9MFY25 Opening ECL (A) 2,617.29 1,878.55 Additions (B) - Provisions as per ECL 1,459.70 2,687.67 - Additional Management - 312.42 Reversals (on account of write-offs and ARC) (C) 1,456.46 2,258.11 Closing ECL (D = A+B-C) 2,620.53 2,620.53 Writeoff including waivers (D) 211.49 954.68 Provision for impairment on loan assets (E) 1,459.27 3,033.14 Baddebts Recovered (F) 28.50 84.67 Net Credit Cost (G = D+E-F) 1,642.27 3,903.15 Net Loss on derecognition of financial instrument (ARC transaction) (H) 830.01 1,142.17 Total Impairment Cost, including Loss on Derecognition of Financial Asset (ARC Transaction) (I = G+H) 2,472.28 5,045.31
		Particulars	Q3FY25	9MFY25
		Opening ECL (A)	2,617.29	1,878.55
		Additions (B)
		- Provisions as per ECL	1,459.70	2,687.67
		- Additional Management	-	312.42
		Reversals (on account of write-offs and ARC) (C)	1,456.46	2,258.11
		Closing ECL (D = A+B-C)	2,620.53	2,620.53
		Writeoff including waivers (D)	211.49	954.68
		Provision for impairment on loan assets (E)	1,459.27	3,033.14
	(in mns)
		Baddebts Recovered (F)	28.50	84.67
Provision as ECL Model	2,308.1
Management Overlay	312.4	Net Credit Cost (G = D+E-F)	1,642.27	3,903.15
Total Provision as per IND AS	2,620.5	Net Loss on derecognition of financial instrument (ARC transaction) (H)	830.01	1,142.17
IRAAC Provision	1,349.3	Total Impairment Cost, including Loss on Derecognition of Financial Asset (ARC Transaction) (I = G+H)	2,472.28	5,045.31
Difference in ECL vs IRAAC	1,271.3

Asset Quality 1/6

MML h ~~as adopted a cautious stance and retained additional M~~ acro enabled overlay of 312.4 million given bulging overleverage concerns in the industry and to address any further impact from ongoing macro events. This is in Credit Rating Agency Rating addition to provisioning requirement as per ECL model and over and above IRAAC requirements.  The Company continues to uphold strong underwriting (Bureau checks, Equifax score card, adherence to FOIR, End Use check etc) and collection practices which are unique to MML. Our dedicated collection metrics will ensure the flow rate will be low from Stage 2 to Stage 3.

In addition, our customers are covered by NATCAT insurance, so that the flood/heavy rains/calamity impacted portfolio of Stage 2 Loans is expected to improve in the next quarter

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Asset Quality - Natural Calamity Claim & Insurance Settlement 2/6

NATCAT Insurance Settlement	NATCAT Insurance Settlement				StateName	Q1 FY'25 Count Settlement %	Q1 FY'25 Count Settlement %	Q2 FY'25 Count Settlement %	Q2 FY'25 Count Settlement %	Q3 FY'25 Count Settlement %	Q3 FY'25 Count Settlement %
94.8% 49,900 59,900 69,900	99.2%	73.4K		80.0% 100.0% 120.0%	TAMILNADU RAJASTHAN UTTAR PRADESH	2 2 6	100.0% 100.0% 100.0%	- 6,321 4,143	- 100.0% 99.0%	50,928 1,456 1,958	33.0% 57.0% 75.8%
0.2K 0.2K -100 9,900 19,900 29,900 39,900	19.2K 19K	36.4K 49.6%		0.0% 20.0% 40.0% 60.0%	BIHAR GUJARAT MADHYA PRADESH	47 6 -	76.6% 100.0% -	3,649 2,463 2,003	98.8% 99.2% 98.4%	10,279 2,574 572	96.0% 90.4% 106.3%
Q1 FY'25 Q2 FY'25 Q3 FY'25 Claim Intimation Count Claim Settlement Count Claim Settlement %					HARYANA WEST BENGAL	6 104	100.0% 100.0%	508 1	95.5% 100.0%	545 3,221	85.7% 77.1%
					MAHARASHTRA	23	100.0%	95	100.0%	837	63.6%
NATCAT Type-wise Intimation vs Settlement for 9M FY’25					ODISHA	3	100.0%	-	-	805	97.0%

Type	Claim Intimation Count	Claim Settlement Count	Claim	Settlement %	KARNATAKA	2	100.0%	-	-	50	96.0%

Flood/Cyclone/Heavy Rain	92,524	55,357		59.8%	JHARKHAND	5	100.0%	-	-	63	84.1%

House Damaged Due To Flood	141	141		100.0%	KERALA	4	100.0%	-	-	46	87.0%

Fire Accident	78	78		100.0%	CHHATTISGARH	-	-	-	-	8	100.0%

Wall And Roof Damaged	2	2		100.0%	PUNJAB	-	-	-	-	2	100.0%

Electric Short Circuit	1	1		100.0%	UTTARAKHAND	-	0.0%	-	-	9	100.0%

Grand Total	92,746	55,579		59.9%	PAN INDIA	210	94.8%	19,183	99.2%	73,353	49.6%

Note: The claim settlement for Q3 FY'25 has reached 49.6% completion. An additional ₹3.5 crore has been confirmed and will be settled soon, increasing the settlement percentage to 76%. The remaining settlements are in progress and will be completed in due course.

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Asset Quality 3/6

GNPA, NNPA & Provision Coverage

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GNPA Ratio NNPA Ratio (Net of total provision)
NNPA Ratio (Net of Stage III provision) Provision Coverage (Net of total provision)
Provision Coverage (Net of Stage III provision)
96.4%
89.1% 89.0%
85.1%
80.8% 76.4% 80.3%
66.6% 64.8%
59.9% 61.0% 58.7%
58.3% 54.9%
FY 21 FY 22 FY 23 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
Stage 2 & 3 Comparison
7.4%
Stage 2 (31-90) Stage 3 (90+)
6.3%
4.5% 5.7%
4.0%
3.0% 3.1% 3.0%
2.3%
2.1%
2.7%
1.1%
0.6% 1.8%
FY 21 FY22 FY 23 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
7.39%
6.26%
3.22%
2.92% 2.97% 3.03%
2.70%
2.29%
2.10%
1.51% 1.55%
1.21% 1.27%
0.91% 0.97%
0.60% 0.71%
0.35% 0.23% 0.10% 0.34%
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Stage 2 & 3 Comparison

Stage 1 (0-30)

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96.4% 96.6%
96.1%
94.2%
92.9%
88.1% 88.0%
FY 21 FY22 FY 23 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
Stage 1 (0-30)
SMA Category Comparison
SMA 0 SMA 1 SMA 2
FY 21 FY22 FY 23 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25
5.29%
3.43%
2.50%
2.23% 2.29% 2.21%
1.97%
1.73% 1.81%
1.52% 1.59% 1.55%
1.29%
1.11%
0.74%
0.62%
0.22% 0.26% 0.35% 0.40% 0.47%
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set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 4/6 Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8.8% 32.9% Own+1 13.0% 5.0% 3.9% 5.0% 26.8% 11.7% 5.0% 4.0% 5.1% 25.8% Own+2 11.3% 3.6% 1.8% 2.4% 19.1% 10.5% 3.9% 1.9% 2.5% 18.8% Own+3 7.5% 1.9% 0.7% 0.9% 11.0% 7.7% 2.3% 0.8% 1.1% 11.9% Own+4 & Above 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfoilo % - Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique 17.3% 6.0% 2.9% 3.9% 30.1% 15.1% 5.9% 2.7% 3.8% 27.6% Own+1 16.5% 5.9% 2.6% 3.6% 28.7% 14.4% 5.8% 2.6% 3.7% 26.5% Own+2 13.9% 4.4% 1.6% 2.1% 22.1% 12.8% 4.6% 1.8% 2.3% 21.5% Own+3 8.4% 2.1% 0.6% 0.8% 12.0% 9.0% 2.6% 0.8% 1.0% 13.5% Own+4 & Above 5.6% 1.0% 0.2% 0.3% 7.1% 8.3% 1.7% 0.4% 0.5% 10.9% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%
Portfoilo % - Dec-24	Q3 FY-25					Q2 FY-25
	Borrower Vintage					Borrower Vintage
Lender Group	0-2 Y	2-4 Y	4-6 Y	>6 Y	Total %	0-2 Y	2-4 Y	4-6 Y	>6 Y	Total %
Unique	17.3%	6.0%	2.9%	3.9%	30.1%	15.1%	5.9%	2.7%	3.8%	27.6%
Own+1	16.5%	5.9%	2.6%	3.6%	28.7%	14.4%	5.8%	2.6%	3.7%	26.5%
Own+2	13.9%	4.4%	1.6%	2.1%	22.1%	12.8%	4.6%	1.8%	2.3%	21.5%
Own+3	8.4%	2.1%	0.6%	0.8%	12.0%	9.0%	2.6%	0.8%	1.0%	13.5%
Own+4 & Above	5.6%	1.0%	0.2%	0.3%	7.1%	8.3%	1.7%	0.4%	0.5%	10.9%
Total %	61.8%	19.4%	8.0%	10.8%	100.0%	59.6%	20.7%	8.4%	11.3%	100.0%

Asset Quality 4/6

Note: Considered JLG loans for the analysis. Data sourced from CRIF for Dec 24.

==> picture [54 x 33] intentionally omitted <==

set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%	set Quality 5/6 Borrowers % Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 15.5% 6.4% 7.6% 10.9% 40.3% 14.1% 6.2% 7.3% 10.5% 38.1% 50k - 1Lk 17.4% 5.7% 3.0% 3.9% 30.0% 15.4% 6.0% 3.2% 4.1% 28.6% 1Lk - 1.5Lk 12.4% 3.6% 1.5% 2.1% 19.5% 12.2% 4.0% 1.6% 2.2% 20.0% 1.5Lk - 2Lk 5.2% 1.4% 0.5% 0.8% 7.9% 6.1% 1.8% 0.6% 1.0% 9.5% 2Lk Above 1.5% 0.4% 0.1% 0.2% 2.2% 2.6% 0.6% 0.2% 0.4% 3.8% Total % 52.0% 17.4% 12.7% 17.9% 100.0% 50.3% 18.6% 12.9% 18.1% 100.0% Portfolio% Dec-24 Q3 FY-25 Q2 FY-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 11.7% 2.7% 1.1% 1.2% 16.7% 11.4% 2.6% 1.1% 1.3% 16.5% 50k - 1Lk 22.9% 7.9% 3.4% 4.5% 38.7% 19.4% 8.0% 3.4% 4.6% 35.4% 1Lk - 1.5Lk 17.3% 5.7% 2.3% 3.2% 28.5% 16.1% 6.0% 2.4% 3.3% 27.7% 1.5Lk - 2Lk 7.8% 2.5% 1.0% 1.5% 12.9% 8.9% 3.0% 1.1% 1.6% 14.7% 2Lk Above 2.1% 0.6% 0.2% 0.3% 3.2% 3.7% 1.1% 0.3% 0.6% 5.7% Total % 61.8% 19.4% 8.0% 10.8% 100.0% 59.6% 20.7% 8.4% 11.3% 100.0%
Portfolio% Dec-24	Q3 FY-25					Q2 FY-25
	Borrower Vintage					Borrower Vintage
Indebtedness	0-2 Y	2-4 Y	4-6 Y	>6 Y	Total %	0-2 Y	2-4 Y	4-6 Y	>6 Y	Total %
Upto 50K	11.7%	2.7%	1.1%	1.2%	16.7%	11.4%	2.6%	1.1%	1.3%	16.5%
50k - 1Lk	22.9%	7.9%	3.4%	4.5%	38.7%	19.4%	8.0%	3.4%	4.6%	35.4%
1Lk - 1.5Lk	17.3%	5.7%	2.3%	3.2%	28.5%	16.1%	6.0%	2.4%	3.3%	27.7%
1.5Lk - 2Lk	7.8%	2.5%	1.0%	1.5%	12.9%	8.9%	3.0%	1.1%	1.6%	14.7%
2Lk Above	2.1%	0.6%	0.2%	0.3%	3.2%	3.7%	1.1%	0.3%	0.6%	5.7%
Total %	61.8%	19.4%	8.0%	10.8%	100.0%	59.6%	20.7%	8.4%	11.3%	100.0%

Asset Quality 5/6

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Note: Considered JLG loans for the analysis. Data sourced from CRIF for Dec 24.

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Asset Quality 6/6
MML+ 4 & above Borrowers % - Dec-24 Q3 FY-25 Q2 FY-25
Borrower Vintage Borrower Vintage
Indebtedness
0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total %
U to 50K 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
p
50k - 1Lk 0.6% 0.2% 0.0% 0.1% 0.9% 0.5% 0.2% 0.0% 0.1% 0.7%
1Lk - 1.5Lk 2.3% 0.5% 0.1% 0.2% 3.0% 2.4% 0.6% 0.1% 0.2% 3.3%
1.5Lk - 2Lk 2.1% 0.4% 0.1% 0.2% 2.7% 2.8% 0.6% 0.1% 0.2% 3.8%
2Lk Above 1.2% 0.2% 0.1% 0.1% 1.6% 2.1% 0.4% 0.1% 0.2% 2.8%
Total % 6.2% 1.3% 0.3% 0.5% 8.2% 7.7% 1.8% 0.4% 0.7% 10.6%
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Asset Quality 6/6

MML has a share of 35% unique to MML Clients as of Dec 24.
In the Category of US + 4 & above the ratio is 8.2.
The PAR trend aligns with expectations showing higher delinquencies as the no of lender associations increases. This reinforces the importance of recent guardrails introduced to promote quality lending practices.
The PAR trend also highlights a decline in a delinquencies as customer vintage increases, with higher deliquencies observed primarly in lower vintage buckets. This under scores the importance of retaining high-quality, long-term customers & Validated the effectiveness of the current strategy.
Share of customer having more than 2 lakh indebtedness for MML stands at 2.2%.

Note: Considered JLG loans for the analysis. Data sourced from CRIF for Dec 24.

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Score Card Impact (New Sourcing)

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No. of loans (Lks) % of amount Disbursed
Risk Category From Inception Q2-FY'25 Q3-FY'25 From Inception Q2-FY'25 Q3-FY'25
Very Low 14.89 1.06 0.82 70.56% 68.98% 77.53%
Low 5.97 0.49 0.24 27.08% 30.08% 21.51%
Medium 0.62 0.02 0.01 2.36% 0.94% 0.96%
Total 21.48 1.57 1.07 100.00% 100.00% 100.00%
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Impact of Score Card

Unique credit score devloped along with Equifax

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High Risk Medium Risk Low Risk Very Low Risk
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Score Card-Based ATS Score Card-Based Disbursements Q1 FY’25 (Mn) ATS (”000) 54 52 51 48 41 40 Very Low 5,635 Low 2,142 Medium 73 Score Card-Based Disbursements Q3 FY’25 (Mn) Very Low 4,233 Low 1,174 Very Low Low Medium Medium 52 Q3 FY’24 Q3 FY’25

Score Card-Based Disbursements Q2 FY’25 (Mn) Very Low 5,695 Low 2,483 Medium 77 Score Card-Based Disbursements - From Score Card Inception (Mn) Very Low 73,633 Low 28,261 Medium 2,458

Score Card-Based Disbursements - From Score Card Inception (Mn)

Note : NTM segment is considered for this Analysis.

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Rejection Trend

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47%
42% Q3_FY'25 Major Contributors to CB
40% 40% 41%
39% Rejections
37%
11.0%
34%
33%
30%
29% 30% 3.2%
28%
26%
15% FOIR
12%
Client DPD & Write-Off
7%
7% 6% 5% 5% 5% 5% Family DPD & Write-Off
4%
4% 3% 4% 4% 4% 3%
2%
6% GuardRails
1%
Q1_FY'24 Q2_FY'24 Q3_FY'24 Q4_FY'24 Q1_FY'25 Q2_FY'25 Q3_FY'25 1% Others
CB Rejection Score Card Process Rejection Overall Rejection
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34% 33%
33%
29%
27%
Q1 - FY'25 Q2 - FY'25 Oct'24 Nov'24 Dec'24
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Conversion Trend FY'25

The conversion rate has evidenced a decline from 34% in Q2-FY'25 to 27% in December 2024, primarily driven by :

Increased CB rejections and lower sourcing volumes.

Overall rejection rate has varied between 34% and 47%, with a noticeable increase in Q3 FY'25, reaching 47%.
The primary factors driving the rise in CB rejections are Obligations and the emerging effects of MFIN Guardrails.
With the partial implementation of GuardRail 2.0 in January 2025, we anticipate a rise in rejection rates in the upcoming quarters. An approximate 6-7% increase in rejections is projected for Q4-FY'25. Furthermore, an additional 8% increase in rejections is expected in Q1-FY'26 due to the proposed implementation of a lender count cap reduction from 4 to 3, effective April 1st, 2025.

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Digitization driving Collections

Customer App Installation (Cum. Mn)¹

Digital Collection (Mn)

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1.58 1.63 1.66 1.70 1.73
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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5,633 5,980 6,388 5,690 5,713
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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Digital	Client Acquisition	Client Acquisition	(Mn)³		Channel-wise digital collection share%	Channel-wise digital collection share%	Channel-wise digital collection share%	Channel-wise digital collection share%	Channel-wise digital collection share%
0.25	0.23	0.22	0.16	0.15	Q3 FY'25	53.3%		45.5%	1.15%
					Q2 FY'25	53.8%		46.2%	0.02%

					Q1 FY'25	56.3%		43.7%	0.02%

					Q4 FY'24	59.4%		40.6%	0.03%
					Q3 FY'24	60.2%		39.8%	0.03%
Q3 FY’24	Q4 FY’24	Q1 FY’25	Q2 FY’25	Q3 FY’25		DYNAMIC-QR	BBPS	Others

Digital Client Acquisition (Mn)³

Digital Collection Share%²

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26% 26% 27% 24% 25%
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
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Note:

1. App Installation represents the cumulative count of customers who have downloaded and registered “Mahila Mitra” app 2. Digital Collection share in the overall collection is the ratio of digital collection to the overall collection for the relevant Quarters. 3. If a client completes their first-ever digital transaction, we classify them as having being digitaly acquired.

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Key Metrics
Branch Count RO Count AUM per Branch (Mn)
1,424 1,508 1,562 1,593 1,651 7,996 8,539 8,571 9,246 9,591 80.5 80.9 78.2 78.6 75.1
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
AUM per RO (Mn) Client per Branch Client per RO
14.3 14.3 14.2 13.5 12.9 2.302 2,224 2,179 2,158 2,074 410 393 397 372 357
Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q3 FY’24 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25
Note : Productivity ratios per RO for Q3 FY’25 includes 394 contractual staff in the payroll of team lease.
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Diversified Products

ified Products	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%	Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total INR (Mn) % of Total 1,11,150 97.01% 1,17,887 96.68% 1,17,893 96.55% 1,21,004 96.66% 1,19,656 96.46% 1,209 1.06% 1,252 1.03% 1,153 0.94% 1,168 0.93% 1,118 0.90% 1,177 1.03% 1,196 0.98% 1,157 0.95% 1,306 1.04% 2,006 1.62% 1,045 0.91% 1,600 1.31% 1,900 1.56% 1,708 1.36% 1,268 1.02% 1,14,581 100% 1,21,935 100% 1,22,103 100% 1,25,185 100% 1,24,049 100%
Product Mix AUM	Q3 FY'24		Q4 FY'24		Q1 FY'25		Q2 FY'25		Q3 FY'25
	INR (Mn)	% of Total	INR (Mn)	% of Total	INR (Mn)	% of Total	INR (Mn)	% of Total	INR (Mn)	% of Total
LIVELIHOOD SOLUTIONS	1,11,150	97.01%	1,17,887	96.68%	1,17,893	96.55%	1,21,004	96.66%	1,19,656	96.46%
LIFE BETTERMENT SOLUTIONS	1,209	1.06%	1,252	1.03%	1,153	0.94%	1,168	0.93%	1,118	0.90%
HELTH & HYGIENE LOANS	1,177	1.03%	1,196	0.98%	1,157	0.95%	1,306	1.04%	2,006	1.62%
SECURED LOAN	1,045	0.91%	1,600	1.31%	1,900	1.56%	1,708	1.36%	1,268	1.02%
Grand Total	1,14,581	100%	1,21,935	100%	1,22,103	100%	1,25,185	100%	1,24,049	100%

AUM - Avg.O/S per Loan ('000)	Q3 FY'24	Q4 FY'24 Q1 FY'25	Q4 FY'24 Q1 FY'25	Q2 FY'25	Q3 FY'25
LIVELIHOOD SOLUTIONS	31.4	32.8	32.4	33.1	33.0
LIFE BETTERMENT SOLUTIONS	2.9	2.9	2.9	2.9	3.0
HELTH & HYGIENE LOANS	19.5	18.9	18.0	20.1	25.4
SECURED LOAN	57.0	65.8	66.6	60.4	51.6
Grand Total	28.3	29.6	29.6	30.1	30.2

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Customer Retention

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Customer Retention
Client Addition Client Vintage
Clients (’000)
715 Q3 FY'25 66% 8% 26%
569
Q2 FY'25 67% 8% 24%
Q1 FY'25 68% 9% 23%
3,424
3,278
Q4 FY'24 67% 11% 22%
Q3 FY'24 66% 13% 21%
- - 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q3 FY'24 Addition Attrition Q3 FY'25
<3 Years 3-5 Years >5 Years
Quarterwise CE Q3 Month wise
Vintage-wise CE Q1 FY'25 Q2 FY'25 Q3 FY'25 Oct'24 Nov'24 Dec'24
<3 Years 95.3% 94.4% 91.0% 94.9% 87.6% 90.7%
3-5 Years 96.3% 96.7% 95.1% 98.5% 92.2% 94.7%
>5 Years 97.8% 98.1% 97.5% 99.7% 95.7% 97.2%
Total 95.9% 95.2% 92.6% 96.1% 89.5% 92.3%
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Customers with higher vintage have displayed better repayment behavior which is in line with our customer retention strategy.

Note: The increase in Oct-24 CE is due to advance collections taken for the Nov-24 Diwali holidays. Normalizing the CE, Oct-24 would be 93.8%, and Nov-24 CE would rise to 91.7%.

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Performance & Annual Guidance
Guidance Actual
Particulars Revised Guidance
FY 25 9M FY 25
5% to 7%
AUM-Growth 10%-12% 1.7%
Growth moderate due to the overall Macro environment
NIM 12.7% - 12.9% 13.1% To remain in line with the Guidance
Operating Cost 6.0% 6.1% To remain in line with the Guidance
7.5% to 8.5%
Credit Cost 3% - 3.75% 5.4% Expecting accelerated write off to keep the GNPA in check. Increase
provision to absorb all impact in the current year.
(0.5%) to 0.5%
RoA 2.75% - 3.25% 1.9%
RoA to be moderated on account of higher credit cost.
(2%) to 2%
RoE 12.5% - 13.5% 8.2%
RoE to be moderated on account of higher credit cost
Updated bases September results
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||||||||||
|---|---|---|---|---|---|---|---|---|
|(Rs in Millions)|
|Financial Comparison|Q3 FY 25|Q3 FY 24|YoY (%)|Q2 FY 25|QoQ (%)|9M FY 25|9M FY 24|YoY (%)|
|Income|
|Revenue from operations|6,807.8|5,767.6|18.04%|6,624.1|2.77%|20,066.6|16,057.1|24.97%|
|Other income|6.6|23.4|-71.63%|6.2|7.31%|15.6|44.9|-65.28%|
|Total income|6,814.5|5,791.0|17.67%|6,630.3|2.78%|20,082.2|16,102.0|24.72%|
|Expenses|
|Finance costs|2,372.9|2,315.9|2.46%|2,374.1|-0.05%|7,084.0|6,353.5|11.50%|
|Employee benefit expenses|1,366.3|1,140.7|19.78%|1,329.9|2.74%|3,986.6|3,236.2|23.19%|
|Net Loss on derecognition of financial|
|-|-|-|-|-|-|
|830.0|1,142.2|
|instrument under amortised cost category|[#]|
|Impairment on financial instruments*|1,642.3|508.9|222.74%|1,552.6|5.77%|3,903.1|1,106.4|252.77%|
|Depreciation and amortisation expense|109.4|92.2|18.62%|105.3|3.84%|316.5|256.8|23.26%|
|Other expenses|442.9|434.9|1.85%|456.5|-2.97%|1,321.7|1,104.6|19.66%|
|Profit before tax|50.6|1,298.4|-96.10%|811.8|-93.76%|2,328.1|4,044.5|-42.44%|
|Profit after tax|38.0|1,245.7|-96.95%|616.1|-93.83%|1,786.2|3,298.2|-45.84%|
|Total comprehensive income|74.0|1,288.2|-94.25%|746.2|-90.08%|1,976.3|3,400.0|-41.87%|

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P&L Statement

# Net loss on derecognition of financial instrument under Amortised Cost represents written off on account of ARC transaction. * Impairment on financial instruments for 9M FY25 is after providing for management overlay of 31 Cr for Macro economic factors which is over and above ECL provisioning. Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Robust fiscal year performance in terms of Income/Profitability (1/2)

Revenue from Operations

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20.8% 20.7% 20.6%
19.0%
17.0%
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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PPOP (in Mns)

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7,638
7,373
5,151
4,362
1,759
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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Total income (in Mns)

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22,553
20,082
16,102
14,463
8,429
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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PAT (in Mns)

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4,496
3,298
1,786
1,639
474
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Robust fiscal year performance in terms of Income/Profitability (2/2)

Cost Ratio’s

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Net Interest Margin Opex Ratio Provisioning Cost
12.7% 12.6% 13.1%
11.9%
10.3%
6.9%
6.2% 6.0% 5.9% 6.1%
5.4%
3.0%
2.3%
1.7% 1.4%
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
Profitability Ratio's
PAT/ROA TCI/ROA
4.2% 4.3% 4.3% 4.4%
2.7%
2.2% 2.1%
1.9%
1.6%
1.0%
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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Cost to Income

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65.0%
51.4%
47.2%
45.5%
43.3%
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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ROE

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24.3%
20.3%
11.4%
8.2%
5.1%
FY 22 FY 23 FY 24 9M FY 24 9M FY 25
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Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Robust Quarterly performance in terms of Income/Profitability (1/2)

Total Income (in Mns)

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6,814
6,630
6,534
6,382
5,791
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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PAT (in Mns)

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1,246
1,198
1,132
616
38
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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NIM (in Mns)

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4,202
4,000 3,983
3,826
3,413
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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PAT/ROA

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4.5%
4.0%
3.7%
2.0%
0.1%
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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PPOP (in Mns)

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2,523
2,441
2,364
2,195
1,807
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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ROE
26.0%
17.5%
15.8%
8.3%
0.5%
Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25
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Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Robust Quarterly performance in terms of Income/Profitability (2/2)

Cost Ratio’s

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Net Interest Margin Opex Ratio Provisioning Cost
13.5% 13.3% 13.3% 13.3%
12.5%
7.9%
6.0% 6.0% 6.0% 6.1% 6.1%
5.1%
2.3% 2.5%
1.7%
Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25
Profitability Ratio's
PAT/ROA TCI/ROA
4.6%
4.5%
4.2%
4.1%
3.7% 3.8%
2.4%
2.0%
0.2%
0.1%
Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25
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Profitability Ratio's

Cost to Income

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48.7%
45.3%
44.5%
43.2%
41.8%
Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25
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ROE

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26.0%
17.5%
15.8%
8.3%
0.5%
Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25
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Balance Sheet

lance Sheet								(Rs in Millions) 9M FY 25 FY 24 242.3 259.4 6,177.3 9,986.2 77,179.0 74,261.6 1,740.9 1,645.0 522.6 1,346.1 85,862.0 87,498.4 117.4 110.1 - 93.0 101.6 157.2 219.0 360.3 1,704.9 1,704.9 28,385.2 26,338.6 30,090.1 28,043.5 1,16,171.1 1,15,902.3	(Rs in Millions) 9M FY 25 FY 24 242.3 259.4 6,177.3 9,986.2 77,179.0 74,261.6 1,740.9 1,645.0 522.6 1,346.1 85,862.0 87,498.4 117.4 110.1 - 93.0 101.6 157.2 219.0 360.3 1,704.9 1,704.9 28,385.2 26,338.6 30,090.1 28,043.5 1,16,171.1 1,15,902.3
Financial Assets	9M FY 25		FY 24		Financial Liabilities			9M FY 25	FY 24
Cash and cash equivalents Bank balances other than cash Receivables Loans Investments Other financial assets Non-financial assets Current tax assets (net) Deferred tax asset (net) Property, plant and equipment Right of use assets Other intangible assets Other non-financial assets Total assets	7,884.4 6,004.2 872.2 94,576.1 3,613.6 229.8		9,576.7 6,210.6 2,574.8 94,357.0 467.1 93.0		Total outstanding dues of creditors Debt securities Borrowings (other than debt securities) Lease liabilities Other financial liabilities Non-financial liabilities Provisions Deferred tax liability (net) Other non-financial liabilities *Equity* Equity share capital Other equity Total liabilities and equity			242.3 6,177.3 77,179.0 1,740.9 522.6	259.4 9,986.2 74,261.6 1,645.0 1,346.1
								85,862.0	87,498.4

					Non-financial liabili Provisions Deferred tax liability Other non-financial i	ties
	1,13,18	0.3	1,13,279.2					117.4 - 101.6	110.1 93.0 157.2
	432.3 141.6 752.2 1,460.9 2.3 201.4			131.1 - 732.8 1,410.9 2.9 345.4

						(net)
						liabilitie	s

								219.0	360.3

								1,704.9 28,385.2	1,704.9 26,338.6

					*Equty* Equity share capital Other equity Total liabilities and
	2,990.8			2,623.0				30,090.1	28,043.5
	1,16,171.1		1,15,902.3					1,16,171.1	1,15,902.3

Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure.

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Balance Sheet Metric

Networth (Mns)

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30,090
28,044
16,258
13,366
FY 22 FY 23 FY 24 9M FY 25
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Debt/Equity

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3.99
2.99 2.98
2.77
FY 22 FY 23 FY 24 9M FY 25
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CRAR
30.5%
28.8% 29.0%
21.9%
FY 22 FY 23 FY 24 9M FY 25
Cost of Borrowing
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11.2%
11.1%
10.9%
Incremental Cost
of Borrowing:
10.4% 10.31%
FY 22 FY 23 FY 24 9M FY 25
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Funding profile

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Liquidity-Current Position (in Mns)
12,670
7,884
7,150
Liquid funds in hand DA/PTC Sanction Pending Term Funding Sanctions
unutilised
Funding Profile – Mobilisation of Funds (in Mns)
92,416
74,712
58,661
47,365
22,973
FY21 FY22 FY23 FY24 9MFY25
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Lender wise Outstanding 9M FY25*

	Public Sector Banks, 33.6% Private Sector Banks, 28.1% Foreign Banks, 13.4% NBFC, 4.4% Retail, 3.3% SFB, 1.2% Domestic DFI, 9.8% Foreign DFI, 6.3% Credit Rating Agency Rating Long Term Rating CRISIL A+/Stable ECB Rating CRISIL A+/Stable NCD Rating CRISIL A+/Stable MFI Grading CRISIL M1C1

Note: * The lenderwise outstanding figures include amounts related to both borrowings and Direct Assignment (DA) transactions.

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Liquidity – Static Liquidity Position
Static ALM (in Mns) Maturity ALM (in Mns)
21,209.9
21,508.5
16,949.7
16,464.4
12,195.6
11,481.2 14,689.1
10,253.6
8,144.3
3,103.6
1,677.1
3,804.9
1 Month 1-2 Month 2-3 Month 3-6 Month 6-12 Month Above 1 Yr
1 Month 1-2 Month 2-3 Month 3-6 Month 6-12 Month Above 1 Yr
Liabilities Assets Cumulative Mismatch
Borrowings Loan Assets Cumulative Mismatch
40,184.7
43,659.6 43,958.1 39,699.5
32,303.0
34,935.7
28,414.9
23,982.8
18,896.0
19,367.5
16,873.9
16,024.6 14,556.7
7,182.4 7,277.9 6,693.9 6,644.7 6,521.7
5,771.0 6,563.6 5,820.4
5,954.8 5,016.8 5,218.2
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Strategic initiatives & Risk mitigants
Sourcing Collection Process Quality
Collection
TAT improvement Focus on
Score card Team
initiatives customer retention
NATCAT
Dynamic voice drop
Insurance
Socio-economic
Process for on-time payment
profiling being
Optimisation
implemented
E-Clinic
Analytics
Digital
Credit
Collections
Implementation
Dedicated legal
Pre-Disbursement
team at State level
data scrubs
Early warning
We have implemented a comprehensive set of measures across the Sourcing, Collection, Process, and
default mechanism
Quality segments to enhance our strategic initiatives and effectively mitigate risks. These measures
collectively strengthen our operations and position us for sustainable growth.
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Robust Risk Management via use of Technology
Risk Management
Framework
Dedicated Credit Managers at all Efficient and Independent Internal Unique credit score developed along
Collections
branches Audit & Compliance team with Equifax
Credit Managers supervised Audits each branch at
Collections Team Allocate more
1,818 by Area Credit Managers and 434 least once every two 419 Charge higher
Strength capital; Maximise
Regional Credit Managers Team Strength months interest rates
collection efficiency
Collection strategy
Branch structure
DPD Teams Involved Responsibility/Activity
0-30 Operations team Regular follow-up for collection directly on field Low Medium
Precision time protocol generation over call by risk Risk Risk
Operations team along with risk
31-90 containing unit tele calling team to support the
containing unit tele calling team
operations team for collection on field
Very High
91-180 In-house debt management Direct customer visit on field Low Risk Risk
services team
In-house debt management
Direct customer visit on field and agency collection with
officer officer officer 180+ services team & agency
strict monitoring of agency performance and conduct
collections team
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Internal Controls

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
Loan Appraisal

Aadhar based E-Signing
 Liveliness
 GRT’s Structure Controls
 Geo Tagging
 Systematic Income  KYC Authentication
 Realtime CB
Assessment

 Automated Appraisal
Geo Tagging
 Bank Account Verification

Credit Score based exposure
System Controls
 Realtime Collection
 Realtime SMS Confirmations
 Closure Verification

 Digital Payment Channels
Cash Holding Verification
Process Controls

Systematic Branch,
Centre & Client Visits
 Collection Confirmation
 Geo Tagging  Branch EOD
RO
BRM BCM
Hierarchy Customer
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Field Monitoring

Comprehensive Field Visit Policy.
System driven field visit target setting & measurement
Mobile app-based visit recording with Geo-tagging.
In Application check list to certifying compliance.

Internal Audit Team

Ensuring constant adherence to quality in terms of Regulatory Norms, Credit Policy and Documentation.

Risk Team

Dedicated Risk team to analyse and report the process, systems and operational risk.

Branch Credit Managers

Independent Credit Managers to do Loan Appraisals.
Mandatory field visit & KYC verification.
Cash flow analysis to avoid over leveraging.
Ensuring compliance with 50% FOIR norms.

Branch Relationship Managers

Additional level of Loan Appraisal.
Branch Disbursement meeting.
Loan Utilization Check.
System driven Branch EOD & Cash holding control.
–  –
RO Relationship Officer BRM Branch Relationship Manager  EOD- End Of the Day
–   – BCM Branch Credit Manager CB – Credit Bureau GRT Group Recognition Test

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Digital Eco-system
Suvidha Loan
Client Web
App Login Whatspp
App
CB
Enquiry
Credit UPI
SMS
Score Run
Mandate
Penny Drop
Verification
Tele
Dynamic
Verification BBPS
QR
Document
E-Sign
Bank AC
UPI BHIM
Credit
Payments Voice
Suvidha Disb Suvidha Note : Express loan processed
232.44 Crs 39,790
from Inception: Active Clients: through customer application without branch visit.
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Technology Interventions
Customer Group Group Loan Sanction Centre
Onboarding Training Confirmation &Disbursement Meeting
Score card-based Nominee KYC System supported Multiple payment
E-signing
exposure Verification group evaluation channels
Real time CB System supported Master Centre Digital access Real time collection
check Training process Geo tagging to documents receipt
Realtime KYC Geo Loan Electronic Fund Real time SMS
Verification Tagging Evaluation Transfer confirmation
Penny drop
Automated Systematic FOIR Liveliness On field Loan
verification
Credit Decisioning based exposure check Utilization Check
Client Geo Geo
Tagging Tagging
•
Continuously enhancing system capabilities through
technological integrations to increase efficiency, reduce
costs, and mitigate risks.
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Crafted and Curated for customer empowerment

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Crafted and Curated for customer empowerment

Diverse product portfolio tailored for customer needs

Individual Loan Flexible repayment frequency and loan tenure

Ticket Size – 60K – 300K | Tenure – 24 – 36 Months Ticket size based on credit performance
Retail
Micro Small & Medium Enterprize (MSME)
Ticket Size – 1Lk – 5Lks | Tenur–e 12 – 60 Months
Suvidha Loan
Secured Loan
–
Ticket Size 10K – 85K | Tenure – 12 – 36 Months
Emergency Needs
TPP Products
Ticket Size – 2K – 12K | Tenure – 3 – 12 Months
Pragathi Loan
Ticket Size – 5K – 30K | Tenure – 12 – 36 Months Life Betterment Solutions
Interim Income Generation
–
Income Generation Loans (IGL) / IGL Dairy
Water & Sanitation Loan Ticket Size – 10K – 85K | Tenure – 12 – 36 Months
Ticket Size – Up to 60K | Tenure – 12 – 36 Months
Livelihood Solutions
Health & Hygiene
 –
Repayment frequency Weekly / Monthly
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 –
Individual Loan Monthly
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Past Five Years Performance Track Record

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AUM (Mn) Disbursements (Mn)
CAGR 26% CAGR 27%
106,616
121,935
81,045
92,083
62,550
46,470
48,386 49,867 40,829
26,367
FY-20 FY-21 FY-22 FY-23 FY-24 FY-20 FY-21 FY-22 FY-23 FY-24
Branches Loan Officers
CAGR 17%
CAGR 21%
8,539
1,508
1,172 6,274
905 4,994
4,540 4,552
755
692
FY-20 FY-21 FY-22 FY-23 FY-24 FY-20 FY-21 FY-22 FY-23 FY-24
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Borrowers (Mn)
CAGR 16%
3.35
2.77
2.05
1.88 1.86
FY-20 FY-21 FY-22 FY-23 FY-24
Employees
CAGR 18%
13,866
10,227
8,178
7,265
6,846
FY-20 FY-21 FY-22 FY-23 FY-24
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Glossary
Particulars Definition
Cost of borrowing represents annually weighted average interest cost on borrowings, weights being annual average borrowings. Borrowings include debt securities,
Cost of Borrowing(%)
subordinated liabilities, and borrowings (other than debt securities)
Cost to Income ratio is the ratio of the aggregate of our fees and commission expenses, employee benefit expenses, operating expenses and depreciation and amortisation
Cost to Income Ratio
expense to total income net of finance cost for the relevant period.
Credit Cost Ratio Credit cost represents impairment on financial instruments for the relevant period as a percentage of average monthly gross outstanding loan portfolio.
Debt to Equity (D/E) Debt to equity represents the ratio of our Total Borrowings to our Net Worth.
Gross NPA ratio represents the ratio of our Stage III assets to total outstanding loan portfolio. Total outstanding loan portfolio represents the aggregate of future principal
Gross NPA ratio (GNPA)
outstanding and overdue principal outstanding, if any, for all loan assets held by our Company as of the last day of the relevant year, gross of impairment allowance.
Net Interest Margin is the ratio of our Net Interest Income to our average monthly gross loan portfolio. Our average monthly gross loan portfolio is the simple monthly
Net Interest Margins
average of our gross loan portfolio for the relevant period.
NNPA ratio or NNPA Ratio (Net of Stage III NNPA ratio or NNPA Ratio (Net of Stage III provision) represents the ratio Stage III loans (NPA as per SMA classification) - Stage III Expected Credit Losses (ECL)/ (Gross loan
-
provision) outstanding Stage III Expected Credit Losses)
-
NNPA ratio or NNPA Ratio (Net of Total provision) represents the ratio Stage III loans (NPA as per SMA classification) Total Expected Credit Losses (ECL)/(Gross loan
NNPA ratio or NNPA Ratio (Net of Total provision) -
outstanding Total ECL)
Pre-provision operating profit before tax (PPOP) Pre-provision operating profit before tax represents the sum of profit before tax for the relevant period and impairment on financial instruments for such period.
Provision Coverage Ratio Provision Coverage Ratio (%) represents the ratio of total impairment allowance on term loans (gross) to Stage III Assets (Gross NPAs) for the relevant period.
Return on annual average equity (ROE) Return on annual average equity represents the ratio of our Profit After Tax attributable to equity holders to our annual average of net worth.
Return on average gross outstanding loan portfolio Return on average gross loan portfolio represents profit for the relevant period as a percentage of average monthly gross outstanding loan portfolio for such period.
(ROA)
The capital to risk assets ratio (CRAR) is calculated as capital funds (Tier I capital plus Tier II capital) divided by risk-weighted assets (the weighted
CRAR
average of funded and non-funded items after applying the risk weights as assigned by the RBI).
Opex Opex ratio represents the sum of operating expenses as a percentage of average monthly gross outstanding loan portfolio.
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Thank You For further information please contact: Mr. Rajat Gupta AVP – Investor Relations Email: [email protected] Ph. No: +91-98218 49374

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About Muthoot Muthoot Pappachan Mahila Mitra App Microfin Group

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AI assistant

Muthoot Microfin Limited — Investor Presentation 2025

59223_rns_2025-02-06_29149abf-0b2f-4c49-b7e0-7c9aef2b7dd1.pdf

BSE Limited

Scrip Code: 544055

Scrip Code: MUTHOOTMF

Sub: Investor Presentation for the Quarter and Nine Months ended December 31, 2024 – Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

NEETHU AJAY

Investor Presentation

Disclaimer

Thomas Muthoot

Journey So Far

Promoter Group Directors

Key Management Personnel and Senior Management Personnel

Awards & Recognition

Consistent Growth

Natural calamities – Fengal Cyclone & Flood impacted loans

Disbursement Spread (Region-wise Trend)

Asset Quality 1/6

Asset Quality 3/6

GNPA, NNPA & Provision Coverage

Stage 2 & 3 Comparison

Stage 1 (0-30)

Asset Quality 4/6

Asset Quality 5/6

Asset Quality 6/6

Impact of Score Card

Rejection Trend

Digitization driving Collections

Customer App Installation (Cum. Mn)¹

Digital Collection (Mn)

Digital Client Acquisition (Mn)³

Digital Collection Share%²

Customers with higher vintage have displayed better repayment behavior which is in line with our customer retention strategy.

P&L Statement

Revenue from Operations

PPOP (in Mns)

Total income (in Mns)

PAT (in Mns)

Cost Ratio’s

Cost to Income

ROE

Total Income (in Mns)

PAT (in Mns)

NIM (in Mns)

PAT/ROA

PPOP (in Mns)

Cost Ratio’s

Profitability Ratio's

Cost to Income

ROE

Networth (Mns)

Debt/Equity

Lender wise Outstanding 9M FY25*

Internal Controls

Field Monitoring

Internal Audit Team

Risk Team

Branch Credit Managers

Branch Relationship Managers

More from Muthoot Microfin Limited

Muthoot Microfin Limited Investor Presentation 2025