Fusion Finance Ltd · NSE:FUSION

Fusion Finance — Q2 FY27 Earnings Presentation

48 slides from Fusion Finance's earnings presentation, Nov 2, 2026

Slide 1: Exchange filing cover letter for earnings presentation
Date: 02.11.2026 Letter No. FFL/SEC/2026-27/SE-92 To, To, The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C/1, G Block, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai - 400 001 Mum
Slide 2: Investor Presentation Q2 & H1 FY27
Investor Presentation Q2 & H1 FY27 1 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 3: Disclaimer
Disclaimer By attending the meeting where this Presentation is made, or by reading the Presentation materials, you agree to be bound by the limitations contained herein and to maintain absolute confidentiality regarding the information disclosed in this Presentation. Any failure to comply with these
Slide 4: Presentation Path
PRESENTATION PATH 01 02 03 Executive Overview Our Presence Summary 04 Business 05 Key 06 Financial Overview Strengths Performance 3 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 6: Executive Summary – Q2 FY27
Executive Summary – Q2 FY27 Sustained Profitability Robust Asset Quality Strong Capital & Liquidity Prudent Disbursement Strategy Rs 86 Cr Profit Before Tax Rs 39 Cr Credit cost 36.75% CRAR Rs 8,007 Cr AUM Profit momentum continued ~ 65% YoY reduction in credit Healthy capital adequacy with AUM grew
Slide 7: Fusion Finance – Q2 FY27 Snapshot
Fusion Finance – Q2 FY27 Snapshot ₹8,007 Cr ₹1,726 Cr ₹486 Cr 12.52% ₹125 Cr ~14% YoY ~33% YoY ~12% YoY ~167 Bps YoY ~40% YoY AUM Disbursement Total Income NIM PPOP ₹39 Cr ₹86 Cr 4.0% 13.5% 1.6% ~65% YoY 39% QoQ ~100 Bps QoQ ~344 Bps QoQ ~301 Bps YoY Credit Cost PBT ROA* ROE* GNPA 36.75% 2,614 Cr 2.
Slide 8: Fusion Finance – H1 FY27 Snapshot
Fusion Finance – H1 FY27 Snapshot ₹8,007 Cr ₹3,509 Cr ₹944 Cr 12.18% ₹227 Cr ~14% YoY ~56% YoY ~7% YoY ~167 Bps YoY ~29% YoY AUM Disbursement Total Income NIM PPOP ₹78 Cr ₹149 Cr 3.5% 11.7% 1.6% ~73% YoY ~301 Bps YoY Credit Cost PBT ROA* ROE* GNPA 36.75% 2,614 Cr 2.3 1,475 ₹62 K CRAR Net Worth D/E B
Slide 9: Key Growth Drivers
Key Growth Drivers Focused initiatives to accelerate profitable growth and strengthen our franchise Technology Enablement Product Expansion Strengthened Risk Framework Geographical Expansion o Deploying next generation LOS & o Premium JLG Loans up to Rs 1 o Leading industry wide o Entering new marke
Slide 10: FY26: A Year of Stabilization; FY27 Onwards: Building Foundation for Sustainable Growth
FY26: A Year of Stabilization FY27 Onwards: Building a Foundation for Sustainable Growth Build Scale. Foundation for Sustainable MSME FY26 Year of Stabilization Drive Impact. FY27 Growth Portfolio Recalibration Strong Capitalization Tightened underwriting and strengthened credit Robust Capital Base
Slide 11: Fusion Finance Overview
Fusion Finance Overview Building an inclusive financial institution driven by purpose, customer trust, and sustainable growth About Fusion Finance Our Business Verticals Established in 2010 as a registered NBFC Microfinance MSME Loans Providing financial services to underserved women in rural and se
Slide 12: Diversified Geographical Presence
Diversified Geographical Presence 19 Lakh+ 3 Union Territories | 1,475 ~68% Active Customers 22 States | 486 Districts Total No. of Branches Top 5 states concentration Our footprint across India State wise branches AUM/Branch (In Rs. Cr) 5.4 5.1 4.8 4.6 4.5 2 7 34 21 38 5 291 42 Q2FY26 Q3FY26 Q4FY26
Slide 14: Book composition || Borrower deleveraging
Book composition || Borrower deleveraging Timelines Fusion only Fusion+1 Fusion+2 Fusion+ ≥ 3 Sep’26 39.5% 34.3% 20.4% 5.8% (3.7% on POS) Mar’26 37.1% 32.8% 22.4% 7.7% (5.0% on POS) Mar’25 35.5% 26.8% 19.6% 18.1% Mar’24 30.9% 19.7% 17.8% 31.5% Ticket Size wise distribution of Fusion Customers* Fusio
Slide 15: Disbursement share || Less leveraged customers
Disbursement share || Less leveraged customers Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 (Avg.) (Avg.) (Avg.) (Avg.) (Avg.) (Avg.) Fusion + 0 43% 41% 44% 46% 51% 49% Fusion + 1 35% 34% 35% 34% 34% 34% Fusion + 2 22% 24% 22% 20% 15% 16% Fusion + 3 0% 0% 0% 0% 0% 0% Fusion only onboards customer
Slide 16: Customer segmentation & Cycle wise ATS
Customer segmentation & Cycle wise ATS Period → Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Customers ↓ New 24% 25% 24% 27% 27% 28% Existing 76% 75% 76% 73% 73% 72% Calculations on Disbursement values Cycle No Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 1 40,715 41,108 43,107 44,539 45,019 4
Slide 17: Disbursement || Cycle wise and Lenders association
Disbursement || Cycle wise and Lenders association Q2 FY27 Q1 FY27 Cycle No Fusion Only Fusion+1 Fusion+2 Fusion+>=3 Overall Cycle No Fusion Only Fusion+1 Fusion+2 Fusion+>=3 Overall 1 25% 11% 3% 0% 39% 1 24% 10% 1% 0% 36% 2 12% 9% 5% 0% 27% 2 14% 12% 6% 0% 32% 3+ 13% 14% 8% 0% 35% 3+ 12% 12% 7% 0%
Slide 18: Disbursement trend || Quarterly Avg || State wise
Disbursement trend || Quarterly Avg || State wise All figures in ₹ Cr. Proportion State Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 QoQ % YoY % % (Q2 FY27) Uttar Pradesh* 108 129 169 151 141 -7% 31% 26% Bihar* 73 97 134 109 95 -13% 30% 18% Odisha* 35 46 60 46 46 1% 32% 9% MP* 31 38 52 48 44 -8% 43% 8% T
Slide 19: Stable Current Bucket collections
Stable Current Bucket collections % Net flow Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Sep’26 Current to PAR 0.57% 0.54% 0.60% 0.25% 0.03% 0.08% 0.16% 0.07% Top 5 State Current Mar’25 Jun’25 Sep’25 Dec’25 Mar’26 Jun’26 Sep’26 CE% on POS (EOM) Uttar Pradesh 98.93% 98.96% 98.93% 99.47% 9
Slide 20: Collections
COLLECTIONS Avg. Monthly Flow Rates and QoQ bucket movement 74.6% 73.8% 71.8% 68.4% 63.5% 60.7% 69.7% 70.4% 66.4% 65.9% 43.8% 53.6% 51.7% 37.4% 49.0% 48.0% 28.3% 30.6% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Sep'26 PAR 0 - > PAR 30 PAR 30 - > PAR 60 PAR 60 - > PAR 90 average monthly flow rates 19 No
Slide 22: MSME Business
MSME Business Empowering India’s Entrepreneurs & Driving Sustainable Growth Product Offerings Key Metrics Who we lend to Serving underserved rural & semi-urban entrepreneurs across India SECURED BUSINESS LOAN OPERATIONAL METRICS FINANCIAL METRICS • Lending for established businesses, Retail Shop Tra
Slide 23: Performance Highlights & Credit Cost
Performance Highlights & Credit Cost 22 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 24: Performance Highlights
Performance Highlights All figures in ₹ Cr. Key Metrics Q2 FY27 Q1 FY27 QoQ Q2 FY26 YoY H1 FY27 FY26 AUM 8,007 7,702 4% 7,038 14% 8,007 7,407 Disbursement 1,726 1,783 (3)% 1,298 33% 3,509 5,983 NII 265 236 12% 247 7% 501 974 NIM / Spread (%) 12.5% 11.9% 59 Bps 10.9% 167 Bps 12.2% 10.8% Total Income
Slide 25: Credit Cost
Credit Cost All figures in ₹ Cr. Particulars Q2 FY27 Q1 FY27 Q2 FY26 FY 26 Opening ECL [A] 233 270 579 887 - Provisions as per ECL[B] 39 38 111 421 Reversals (on account of write-off/sale) [C] 63 75 246 1,038 Closing ECL [D = A+B-C] 209 233 444 270 Impairment on Loan Portfolio [E] 39 38 111 421 Cred
Slide 26: Tech Capabilities & ESG
Tech Capabilities & ESG 25 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 27: AI Excellence: Turning Intelligence into Business Impact
AI Excellence: Turning Intelligence into Business Impact AI AT EVERY STEP AI TOUCHING MILLIONS THE ROAD AHEAD, BUILT IN-HOUSE Customer Onboarding Every capability below is planned to be built AI enabled onboarding, 10 Mn+ 1.5 Mn+ 12.5K+ and owned by our own AI team, on our own multilingual engagemen
Slide 28: Technology Transformation
Technology Transformation || Scalable growth, stronger controls, superior customer experience 1 Digitize 2 Intelligence 3 Scale End-to-end digital customer onboarding and AI-enabled credit, collections and customer FinSetu-powered lending platform and servicing engagement modernized core stack • AI
Slide 29: ESG: Aspiring to become a responsible Financial Institution
ESG : Aspiring to become a responsible Financial Institution Environmental Social Governance Reducing Environmental Impact Empowering Community & Employees through various Responsible business practices through transparency, Initiatives integrity & accountability • Continued adherence to the IFC Exc
Slide 30: CSR Footprint: Driving Impact Across Communities
CSR Footprint : Driving Impact Across Communities 6 2 1,590+ 68+ 85+ SDG’s Covered Lives Touched Govt. / Key Employees CSR Programs officials Volunteering 2 3 6 12 16 Aspirational Partnership Branding & States Districts with NGO’s Visibility Districts Glimpses of our CSR Programs Program : Health Ca
Slide 31: Risk Governance & Internal Audit Structure
Risk Governance & Internal Audit Structure Risk Governance Framework Internal Audit Structure Board of Directors MD & CEO Board of Directors Board Risk Management Committee Board Audit Committee Management Risk Committee Chief Internal Auditor Line Management Risk Management Dept. Internal Audit (fi
Slide 32: Key Strengths & Liability Management
Key Strengths & Liability Management 31 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com
Slide 33: Key Strengths || Agility across business cycles
Key Strengths || Agility across business cycles All figures in ₹ Cr. AUM Disbursement 8,007 2,140 7,702 1,783 1,726 7,407 1,594 1,298 7,038 QoQ 6,876 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 AUM Disbursement 10,294 11,476 8,596 9,296 8,980 8,007 6,971 7,407 5,9
Slide 34: Key Strengths || Steadily Improving Branch Performance
Key Strengths || Steadily Improving Branch Performance For MFI Vertical only AUM/ RO (₹ in Cr) AUM/Branch (₹ in Cr) Borrower/ Branch 5.2 1.2 4.6 4.9 1.1 4.4 4.3 1,759 1.0 1,602 1,487 1,406 1,375 0.8 0.9 QoQ Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY
Slide 35: Key Strengths || Operational Prudence
Key Strengths || Operational Prudence For MFI Vertical only Avg. Ticket Size (₹ in K) Borrowers (in Lacs) Avg. OS / Borrower (₹ in K) 62.9 37.7 61.1 25.6 34.6 60.8 23.2 30.9 59.6 21.5 20.0 19.1 26.5 24.8 54.2 QoQ Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26
Slide 36: Key Strengths || Liability Management
Key Strengths || Liability Management Average & Marginal Cost of Borrowing 12.2% Institutions / Banks Q2 FY27 Q1 FY27 FY26 FY25 11.2% 10.6% 10.3% 10.3% 10.3% 10.3% 10.3% 10.1% 9.4% Public Sector Banks 8% 11% 16% 27% DFI- Domestic 2% 3% 3% 7% Private Sector Banks 53% 47% 43% 36% QoQ Foreign-Banks 21%
Slide 37: Key Strengths || Liability Management
Key Strengths || Liability Management All figures in ₹ Cr. Positive ALM (Months) 24.9 25.1 Stable Liquidity Position 24.2 23.1 22.2 Oct26 Nov26 Dec26 Jan-27- Mar 20.4 19.2 Particulars (₹ Cr) 17.6 17.9 (P) (P) (P) 27(P) 17.5 17.5 14.5 Opening Cash & Equivalents (A) 1,661* 1,613 1,582 1,400 Loan Recov
Slide 39: Profit and Loss Statement
Profit and Loss Statement All figures in ₹ Cr. Profit & Loss Statement Q2 FY27 Q1 FY27 QoQ% Q2 FY26 YoY% H1 FY27 H1 FY26 YoY% FY26 - Interest Income on portfolio 415.6 386.1 8% 381.6 9% 801.7 798.7 0% 1,513.1 - Finance Cost 150.5 149.8 0% 134.3 12% 300.4 283.2 6% 538.7 Net Interest Income 265.1 236.
Slide 40: Balance Sheet
Balance Sheet All figures in ₹ Cr. Financial Position Q2 FY27 Q1 FY27 QoQ % Q2 FY26 YoY % Financial and Non-financial assets - Cash & Other Bank Balances 1,660.7 1,880.2 (12)% 809.9 105% - Bank balances other than cash and cash equivalents 127.1 113.2 12% 168.2 (24)% - Loans (Net of Impairment Loss
Slide 41: Key Ratios
Key Ratios Margin Analysis Cost to Income Opex to Avg. AUM 70.2% 11.9% 22.5% 22.8% 68.9% 68.8% 21.2% 21.6% 21.7% 66.9% 11.5% 11.4% 11.3% 11.4% 11.9% 12.5% 10.9% 10.9% 62.7% 10.7% QoQ 10.3% 10.3% 10.3% 10.6% 10.3% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26
Slide 42: Key ratios
Key ratios GNPA CRAR NNPA 4.61% 0.63% 4.38% 38.80% 36.46% 36.95% 36.75% 0.51% 31.31% 0.47% 3.21% 0.38% 2.51% 1.60% 0.11% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 41 November 1, 2026 | © Fusion Finance Limited | www.fusion
Slide 43: Stakeholder Management
Stakeholder Management 54.5% Category Top Share Holders 51.8%* HDFC TRUSTEE COMPANY LTD. A/C HDFC BALANCED ADVANTAGE Mutual Fund FUND Foreign Portfolio Investors INDIA CAPITAL FUND LIMITED Mutual Fund NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA VALUE FUND 30.8% 31.2% ADITYA BIRLA SUN LIFE MUTUAL
Slide 44: Highly Experienced Board with Strong Governance
Highly Experienced Board with Strong Governance Sanjay Garyali, MD and CEO Hemant Mundra, Non-Executive Director • 28+ years of expertise in retail financial markets and a deep • Hemant Mundra is a Managing Director at Warburg Pincus. Mr. understanding of the key drivers in the sector. Prior to join
Slide 45: The Management Team
The Management Team Krishan Gopal Sunil Mundra Jitender Sharma Sushil Menon CFO COO-MFI Deputy COO– CIO MSME Nishant Monga Anurag Srivastava Gautam Munjal Sanjay V Choudhary Chief Compliance CCO Head – Internal CRO Officer Audit Chinmayi Trivedi CHRO 44 November 1, 2026 | © Fusion Finance Limited |
Slide 46: Abbreviations
Abbreviations AUM Asset Under Management Cr Crore PAT Profit After Tax L Lac NIM Net Interest Margin Mn Million ECL Expected Credit Loss K Thousand CRAR Capital Risk Adequacy Ratio FY Financial Year GNPA Gross Non-Performing Assets Bps Basis points NNPA Net Non-Performing Assets H Half Yearly NII Ne
Slide 47: Definitions
Definitions • AUM represents the aggregate of principal outstanding for all loans including the assigned portfolio as of the last day of the relevant period/year • Net Interest Income represents interest income on loan portfolio for the relevant period/year reduced by finance costs for such period/y
Slide 48: Thank You
THANK YOU For Investor queries contact Prashant Kumar [email protected] Adfactors PR Hanishi Shah [email protected] 47 November 1, 2026 | © Fusion Finance Limited | www.fusionfin.com

Fusion Finance — Q2 FY27 Earnings Presentation on 6ix

Fusion Finance — Q2 FY27 Earnings Presentation

Slide 1: Exchange filing cover letter for earnings presentation

Slide 2: Investor Presentation Q2 & H1 FY27

Slide 3: Disclaimer

Slide 4: Presentation Path

Slide 5: Executive Summary

Slide 6: Executive Summary – Q2 FY27

Slide 7: Fusion Finance – Q2 FY27 Snapshot

Slide 8: Fusion Finance – H1 FY27 Snapshot

Slide 9: Key Growth Drivers

Slide 10: FY26: A Year of Stabilization; FY27 Onwards: Building Foundation for Sustainable Growth

Slide 11: Fusion Finance Overview

Slide 12: Diversified Geographical Presence

Slide 13: MFI Business

Slide 14: Book composition || Borrower deleveraging

Slide 15: Disbursement share || Less leveraged customers

Slide 16: Customer segmentation & Cycle wise ATS

Slide 17: Disbursement || Cycle wise and Lenders association

Slide 18: Disbursement trend || Quarterly Avg || State wise

Slide 19: Stable Current Bucket collections

Slide 20: Collections

Slide 21: MSME Business

Slide 22: MSME Business

Slide 23: Performance Highlights & Credit Cost

Slide 24: Performance Highlights

Slide 25: Credit Cost

Slide 26: Tech Capabilities & ESG

Slide 27: AI Excellence: Turning Intelligence into Business Impact

Slide 28: Technology Transformation

Slide 29: ESG: Aspiring to become a responsible Financial Institution

Slide 30: CSR Footprint: Driving Impact Across Communities

Slide 31: Risk Governance & Internal Audit Structure

Slide 32: Key Strengths & Liability Management

Slide 33: Key Strengths || Agility across business cycles

Slide 34: Key Strengths || Steadily Improving Branch Performance

Slide 35: Key Strengths || Operational Prudence

Slide 36: Key Strengths || Liability Management

Slide 37: Key Strengths || Liability Management

Slide 38: Financial Performance

Slide 39: Profit and Loss Statement

Slide 40: Balance Sheet

Slide 41: Key Ratios

Slide 42: Key ratios

Slide 43: Stakeholder Management

Slide 44: Highly Experienced Board with Strong Governance

Slide 45: The Management Team

Slide 46: Abbreviations

Slide 47: Definitions

Slide 48: Thank You