India's CreditAccess Grameen slumps on Q2 profit drop; ICICI Securities cuts to 'hold'

CreditAccess Grameen

29/10/2025 07:36

** Shares of CreditAccess Grameen CRDE.NS down 5.6% at 1,394 rupees

** Microfinance firm posts 32.4% fall in Q2 profit as borrower base shrinks 7.2%

** Interest income down 0.3% y/y

** ICICI Securities downgrades stock to "hold" from "buy", lowers PT to 1,470 rupees - downside of 0.5% from Tuesday's close

** Adds, factors including co's slower-than-expected recovery in Karnataka state likely to keep credit costs elevated in the near term

** However, healthy monsoons, stronger rural trends likely to boost demand, asset quality in H2 FY26
** Analysts on avg rate stock "buy"; median PT at 1,400 rupees - LSEG data

** Stock top loser in small-cap 100 index .NIFSMCP100 so far this year, but still up ~66% YTD

($1 = 88.2880 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))