Transcript of conference call held in respect of the financial results for the quarter ended 31 March 2026

FY26 results: Standalone: Revenue not explicitly stated PAT not explicitly stated Consolidated: Revenue not explicitly stated PAT not explicitly stated Dividend: 6/share Commentary: Board recommended a dividend of INR 6 per equity share for FY26. Management commentary highlights: - AUM crossed INR 5 lakh crores (~510,000 crores) at end of FY26, growing 22.4% in Q4. - PAT grew 26.7% in Q4. - Added 3.93 million new customers in Q4; total customer franchise at 119.3 million. - Gold loan portfolio grew 115%, now 3.5% of AUM, expected to cross 5% by FY27. - MSME segment grew 6% due to risk actions, expected to return to double-digit growth by Q2/Q3 FY27. - Cost of funds improved to 7.41% in Q4; NIM steady. - Deposit book at 68,533 crores, 16% of consolidated borrowings. - Opex to NTI at 33.8% in Q4 (revised reporting), slight sequential increase due to labor code and gold loan branch expansion. - Credit cost (loan loss to average AUM) at 1.65% (revised metric) in Q4, down from 1.97% in Q4 FY25. - GNPA at 1.01%, NNPA at 0.41%, provision coverage ratio at 60% vs 54% last year. - Winding down captive 2-wheeler/3-wheeler portfolio to under 1,500 crores by Sept 2026. - AI transformation ongoing with 203 AI-dedicated staff expanding to 363 by June 2027. - FY26 booked 52.5 million loans, added 17.5 million new customers, PAT grew 24%. - FY27 guidance: 20-24% AUM growth, 145-160 bps credit cost, ROA 4.4%-4.6%, ROE 19%-20%, NIM marginal moderation expected. - Dividend recommended at 6 p…