Aye Finance Limited · NSE:AYE
Aye Finance — Q2 FY27 Earnings Presentation
44 slides from Aye Finance's earnings presentation, Oct 21, 2026
Slide 1: Exchange intimation letter: Investor Presentation
AYE FINANCE LIMITED (formerly known as AYE FINANCE PRIVATE LIMITED) CIN: L65921DL1993PLC283660 October 21, 2026 To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001 Mumbai –
Slide 2: Aye Finance Limited Investor Presentation Q2FY27
Aye Finance Limited Investor Presentation Q2FY27
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”) which have been prepared by Aye Finance Limited (the “Company”) have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Index
Index 01 Performance Highlights Page 4-9 02 Company Overview Page 10-18 03 Liquidity Profile Page 19-21 04 Asset Quality Page 22-28 05 Key Efficiency Drivers Page 29-35 06 Financial Overview Page 36-42 07 Vision & FAQs Link 3
Slide 5: Performance Highlights
Performance Highlights 4
Slide 6: Management Commentary
Management Commentary Commenting on the performance Mr. Sanjay Sharma MD and Co-Founder said : “Q2 FY27 highlighted the resilience of India’s micro-enterprises, as businesses continued to demonstrate adaptability amid deficient monsoon rainfall and localised drought conditions. Business activity rem
Slide 7: Key Highlights – Q2FY27
Key Highlights – Q2FY27 (Rs. Crores) Assets Under Management Disbursements Gross Total Income +26% +10% +24% 7,324 7,597 1,403 527 1,275 1,219 490 6,028 427 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Net Interest Income PPoP Profit After Tax +40% +54% +151% 322 334 198 87 179 75
Slide 8: Key Highlights – Q2FY27
Key Highlights – Q2FY27 Average Yield (%) NIM (%) Cost to Income (%) 21.6% 22.4% 22.3% 15.9% 15.6% 56.5% 13.9% 50.3% 48.3% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 PAR X (%) Asset Quality (%) Return Ratios (%) Book Value Per Networth 8.0% Rs. 2,695 Crore# Share: Rs. 110 # 7.0%
Slide 9: Key Highlights – H1FY27
Key Highlights – H1FY27 (Rs. Crores) Assets Under Management Disbursements Gross Total Income +26% +15% +23% 7,597 2,622 1,017 2,276 829 6,028 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Net Interest Income PPoP Profit After Tax +39% +47% +148% 657 377 161 472 255 65 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26
Slide 10: Key Highlights – H1FY27
Key Highlights – H1FY27 Average Yield (%) NIM (%) Cost to Income (%) 21.7% 22.5% 15.9% 55.2% 14.0% 49.3% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 PAR X (%) Asset Quality (%) Return Ratios (%) 8.0% 6.9% 4.9% 4.2% 12.3%* 7.7% 1.8% 1.6% 3.9% 1.9% ` H1FY26 H1FY27 H1FY26 H1FY27 H1FY27 H1FY26 GNPA NNPA R
Slide 11: Company Overview
Company Overview 10
Slide 12: India’s Leading Micro-enterprise Lender
India’s Leading Micro-enterprise Lender • Founded in 2014, Aye Finance is an RBI-registered NBFC-ML focused on enabling credit Rs. 7,597 Crores Rs. 2,622 Crores access for underserved MSMEs across India. Assets Under Management Disbursements • Large unmet credit demand in the target segment, with hi
Slide 13: Journey So Far
Journey So Far FY2016 FY2018 FY2020 FY2022 FY2023 FY2024 FY2025 FY2026 Started in North +South +West & East PAN India PAN India PAN India PAN India PAN India Obtained CoR as NBFC from RBI 2014 # States Added 5 5 8 2 1 0 0 0 Total States 5 10 18 20 21 21 21 21 Branches 172 311 398 478 526 571 AUM 1,7
Slide 14: PAN India Presence
PAN India Presence Branch Network – 571 Branches in 18 states and 3 UTs Geographical AUM Mix (%) AUM by Industry (%) North 15% 0.19% 17% 3.99% J&K Branches PB 1.14% 47.3% 49.0% HP 180 51.0% 51.1% 4.37% 0.19% 11% HR 1.52% CH UK 0.38% 8.7% 9.5% DL 10.0% 10.6% 13.31% 7% 10.9% 12.5% West 10.84% UP 8.37%
Slide 15: Unique Positioning: Focused on Unorganised Micro-MSMEs
Unique Positioning: Focused on Unorganised Micro-MSMEs Marginal- Wage Earners Marginal - Self employed Unorganised Micro MSME Organised Micro MSME & Contract workers Farmers, Skill based-Plumber, No Financial docs GST, Fin Returns Segments Carpenter etc. Turnover Rs 30 lacs - 1 crs pa Turnover Rs 1-
Slide 16: Our Customers are Micro Scale MSMEs
Our Customers are Micro Scale MSMEs… …From diversified business clusters across India ✓ Horizontal Clusters Vertical Clusters Understanding of over 70 business clusters ✓ Manufacturing, Trading, service and allied Shoes agriculture sector Grocery shop Brass work Glasswork Woodwork ✓ Permanent busine
Slide 17: Comprehensive Product Offerings
Comprehensive Product Offerings AUM Split (%) ATS on Disbursement Number of Active Product Offerings Collateral as of September 2026 (INR Lakhs) Loans LAP 5.4 43,530 Mortgage over SORP/SOCP 21.8% 1.4% AUM Sep-26 ‘Saral’ Property 1.9 10,179 Mortgage over Plots & POA sale INR 7,597 Loans 76.8% Hypothe
Slide 18: Board of Directors
Board of Directors Sanjay Sharma Sanjaya Gupta Vinay Baijal Govinda Rajulu Chintala MD and Co-Founder Independent Director Independent Director Chairman Former Chairman of NABARD, MD Over 30 years of experience with Former MD of PNB Housing Former Chief General Manager of NABFINS and Director of Ban
Slide 19: Strong Management Team
Strong Management Team Sanjay Sharma Niraj Kaushik Ujual George Gaurav Seth Experience: Experience: Experience: Experience: IIFL Home Loans, Airtel Payments Bank, ICICI Ltd, HDFC Bank, Standard Bajaj Finserv, Religare, Royal Bank of RBL Bank, ADCB, Barclays Bank, HSBC Canara HSBC Life Insurance, HSB
Slide 20: Liquidity Profile
Liquidity Profile 19
Slide 21: Diversified Lender Base with Reducing Cost of Borrowing
Diversified Lender Base with Reducing Cost of Borrowing Banks (34.9%) Cost of Borrowing CoB Incremental CoB 11.04% 10.94% 10.87% 10.78% 10.63% 10.76% 10.31% 10.13% 10.20% 10.04% Financial Institutions* (48.3%) Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 (Rs. Crores) Debt 1,128.1 662.3 670.6 1,136.7 1,199.4 r
Slide 22: Liability Profile
Liability Profile ALM Position (Cumulative) Capital Adequacy Ratio (%) 42.2% 41.0% 9,091 9,091 32.8% 34.9% 8,061 5,913 4,626 Mar-24 Mar-25 Mar-26 Sep-26 3,097 3,118 2,303 1,703 847 Networth (Rs. Crores) Upto 3 months Upto 6 months Upto 1 year Upto 3 years Upto 5 years 2,695 2,533 Inflow Outflow 1,65
Slide 23: Asset Quality
Asset Quality 22
Slide 24: Asset Quality Trends – Q2FY27
Asset Quality Trends – Q2FY27 PAR X (%) PAR 30 (%) Credit Cost – Annualized (%) 8.03% 6.76% 5.00% 7.01% 6.94% 6.07% 5.89% 4.03% 3.82% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Collection Efficiency % (Non-OD) Collection Efficiency % (Bucket 1) 98.9% 99.2% 99.2% 54.5% 52.8% 48.4%
Slide 25: Asset Quality Trends – H1FY27
Asset Quality Trends – H1FY27 PAR X (%) PAR 30 (%) Credit Cost – Annualized (%) 8.03% 6.76% 5.14% 6.94% 5.89% 3.95% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Collection Efficiency % (Non-OD) Collection Efficiency % (Bucket 1) 98.9% 99.2% 53.6% 45.8% H1FY26 H1FY27 H1FY26 H1FY27 24
Slide 26: Collection Efficiency and PAR Trends – Overall
Collection Efficiency and PAR Trends – Overall Collection Efficiency % (Non-OD) Collection Efficiency (Bucket 1) 99.3% 99.3% 57.1% 99.3% 55.2% 99.2% 99.2% 53.4% 52.8% 52.3% 99.1% 51.2% Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 PAR X PAR 30 7.1% 6.2% 6.1% 6.1
Slide 27: Collection Efficiency and PAR Trends - Key States
Collection Efficiency and PAR Trends - Key States Bihar Uttar Pradesh Rajasthan Rest States Collection Efficiency % Collection Efficiency % Collection Efficiency % Collection Efficiency % (Non-OD & Bucket 1) (Non-OD & Bucket 1) (Non-OD & Bucket 1) (Non-OD & Bucket 1) 99.2% 99.4% 99.3% 99.3% 99.2% 99
Slide 28: Summary of Provisions
Summary of Provisions Particulars (Rs. Crores) Stage 1 Stage 2 Stage 3 Total As of 30th Sept 2026 Gross loans outstanding 6,730 90 299 7,119 ECL provision 44 43 186 274 Net loans outstanding 6,685 48 112 6,845** Provision % 0.66% 47.44% 62.42% 3.85% As of 30th June 2026 Gross loans outstanding 6,475
Slide 29: Robust Multi-Tiered Collection Capabilities
Robust Multi-Tiered Collection Capabilities Tier 1 — Digital Tier 2 — Field Tier 3 — Legal Controlling bounce using data Securing collection via 500+ Aiding recoveries with legal science models branch infrastructure remedies Specialized legal unit Predictive models Feet-on-street network Dedicated t
Slide 30: Key Efficiency Drivers
Key Efficiency Drivers 29
Slide 31: Efficiency Drivers – Technology
Efficiency Drivers – Technology Technology platform is enhanced by Data Science & Visualization of trends Customer Loan Origination Interface Branch Call Centre Direct Supply Visualization & 100% Paperless (Digital) Chain Analytics Layer 100% inhouse Interface • Tableau Apps Layer Ameyo AYE App Swit
Slide 32: Efficiency Drivers – Mortgage Business
Efficiency Drivers – Mortgage Business Longer tenor brings AUM stability and enhanced long term profitability Between FY24 and FY26, Company has deployed 1,020 dedicated staff in “Primary ML Channel” in 180 branches Primary channel (Decentralized underwriting) – 180 branches Mortgage Business Branch
Slide 33: Efficiency Drivers – Repeat Business
Efficiency Drivers – Repeat Business Repeat program ensures retention of good customers with low origination cost Repeat loan use Machine Learning models to target quality customers ‘Low Risk’ Repeat Data Customers Loan Review Science Model Repeat Loans and Eligible Customers ▪ Repayment Behavior ‘H
Slide 34: Efficiency Drivers – Branch Network
Efficiency Drivers – Branch Network AUM Growth is driven by deepening branch portfolios Potential Avg. AUM • Significant headroom in existing network: Younger branches have scope to deepen Branch Vintage #Branches incremental (Rs. Crores) Capacity* customer portfolios and scale further as they matur
Slide 35: FY27 Guidance
FY27 Guidance Particulars FY27 Q2FY27 H1FY27 Assets Under Management 25.0% - 30.0% 26.03% 26.03% Growth (%)* Net Interest Margin (%) 14.25% - 14.75% 15.59% 15.87% Opex Cost (%) 8.25% - 8.75% 8.61% 8.83% Credit Cost (%) 3.5% - 4.0% 3.82% 3.95% Return on Total Assets (%) 4.0% - 4.5% 4.04% 3.90% *YoY G
Slide 36: Three Year Vision
Three Year Vision : Growth 01 Asset Quality Compounding current momentum for superior • Maintaining industry-leading quality with a normalized Credit Cost of returns and asset quality 3.25% - 3.75%. 02 Profitability • Delivering strong financial performance with RoA of 4.0% - 4.5% and RoE of 17.0% -
Slide 37: Financial Overview
Financial Overview 36
Slide 38: Profit & Loss Summary
Profit & Loss Summary Particulars (Rs. Crores) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1FY27 H1FY26 Y-o-Y Interest Income 479 371 453 932 731 Fee & Other Income 48 56 37 85 98 Total Income 527 427 24% 490 8% 1,017 829 23% Finance Cost 145 133 131 275 259 Operating Expense 184 166 180 365 315 Pre Provision
Slide 39: Balance Sheet Summary
Balance Sheet Summary As on period ended Particulars (Rs. Crores) 30th Sept 2026 31st March 2026 30th Sept 2025 Assets Cash & Bank balance 1,342 1,011 1,373 Loans 6,850 6,266 5,382 Investments 223 158 67 Other financial assets 189 186 114 Other non-financial assets 170 152 180 Total Assets 8,774 7,7
Slide 40: ROE Tree
ROE Tree Particulars (%) Q2FY27 Q2FY26 YoY (bps) Q1FY27 QoQ (bps) H1FY27 H1FY26 YoY (bps) Interest Income on ATA 22.34% 21.56% 78 bps 22.40% -7 bps 22.53% 21.72% 81 bps Finance Cost on ATA 6.74% 7.69% -95 bps 6.46% 28 bps 6.65% 7.70% -104 bps Net Interest Margin on ATA 15.59% 13.87% 173 bps 15.94% -
Slide 41: Shareholding Pattern
Shareholding Pattern More than 5% Shareholders As of 30th September 2026 Investors % Elevation Capital 12.6% 4.9% 9.7% 3.8% LGT Capital Invest 10.0% 6.5% CapitalG LP (erstwhile Google Capital) 7.7% 13.1% 62.1% British International Investment 7.4% A91 Emerging Fund 7.2% FII AIF Imp2 Assets (Temasek
Slide 42: CSR Activities
CSR Activities FAME (Foundation for Advancement of Micro Enterprises) is a not-for-profit bridging the gap between the aspirations of India’s 60 million grassroots micro- FAME entrepreneurs and the opportunities available to them — through five focused livelihood programs. Shoe Artisans Kirana Sport
Slide 43: Glossary
Glossary PAR X PAR X is total overdue (all DPD buckets) PAR 30 PAR 30 is total overdue (all DPD 30 day onwards) Collection Efficiency Collection efficiency is calculated on number of accounts and restricted to 1 account if collected Bucket 1 Bucket 1 refers to overdue cases below 30 DPD Leverage Ave
Slide 44: Thank You
Contact Us Contact Information Company: AYE Finance Limited Gaurav Seth – Chief Financial Officer [email protected] Thank You Sovan Satyaprakash - Chief Strategy & IR Officer [email protected] Investor Relations Advisors: Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC20428