Aye Finance Ltd — Q3 FY26
Aye Finance delivered a strong Q3 FY26 with PAT surging 87% YoY to ₹43 crore, driven by improving credit quality and operating leverage.
bullish
high
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
83%Questions answered2Evaded / deflected12Questions audited
Answered
High priority
Target AUM mix and credit cost guidance for FY27.
Asked by Charleen Kapia, IFL Capital
Provided specific target mix and credit cost trajectory with range.
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Question
So with mortgage loans already at 20% of AUM what is the target AUM mix that we will achieve as we aim 30% kagger over the next 3 years... what is your credit cost guidance for FI27?
Management (unnamed)
mortgage share should increase to about 30%... credit cost has been falling... at quarter four we should be at a quarterly annualized credit cost of less than 4%... comfort range is 3.5% with plus/minus 0.25%.
Evasive
High priority
Expected NIMs in FY27 given mortgage mix and borrowing cost trends.
Asked by Charleen Kapia, IFL Capital
Refused to give specific NIM guidance, deferred to next call.
deferred to next quarterno number given
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Question
So where do we expect our names to settle in FI27?
Management (unnamed)
exact guidance with respect to FI27 we provide it in the next earnings call... yields have improved... roughly around 25 bits to 40 bits higher reversals... we would like to give it in the next warnings call.
Answered
High priority
Impact of Bihar draft bill on collections and business.
Asked by Sha, Capital
Provided specific collection data and historical precedent to assess impact.
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Question
what is your reading of the current draft bill... what implications do you anticipate?
Management (unnamed)
collection in Bihar has been between 99.2 and 99.4%... if regulation has similar playout as Karnataka or Tamil Nadu then it will have very minimal effect on non MFI NBFC.
Answered
Medium priority
Why is bucket one collection efficiency in Bihar lower at 40%?
Asked by Sha, Capital
Explained reasons with specific operational details.
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Question
why is it that the bucket on collection efficiency in Bihar seems to be lower at 40% when I compare it with others?
Management (unnamed)
we didn't have a collection team... new person who has just taken over about four months back... when you collect 99.4% then the possibility of selecting in bucket one becomes difficult.
Answered
High priority
PAR 30 and PAR 90 for hypo and mortgage books this quarter.
Asked by Chinmai Nema, Precision Capital
Provided exact PAR numbers for both segments.
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Question
could you share the PAR 30 and the PAR 90 number for both the lab book and the amplification book at the end of the quarter?
Management (unnamed)
par 90 of the hyper education loan was 5.65% and the par 30 for the hypotification loan stood at 7.54%. With respect to the mortgage portfolio the par 30 was 3.5% and the par 90 was 2.69%.
Declined
Medium priority
Same PAR numbers for previous quarter.
Asked by Chinmai Nema, Precision Capital
Did not provide the numbers, offered to share later.
not availabledeferred to later
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Question
could you also share the same numbers for the end of the last quarter?
Management (unnamed)
That numbers I will not have readily available. I'll connect separately and we I can share the data.
Answered
High priority
When will hypothecation book growth normalize?
Asked by Chinmai Nema, Precision Capital
Gave timeline and cited recent data.
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Question
when can we see a higher growth rate in the hypertication book or basically when do you see stress subsiding in that book?
Management (unnamed)
hypothecation loan kicker with respect to growth should be normalized in the next financial year... quarter four numbers of January and February clearly show picking up of the productivity.
Answered
Medium priority
How do you monitor end use of loans?
Asked by Samir Desia
Detailed explanation of monitoring process.
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Question
how do you monitor the end use of the loans and some thoughts around that just on how the model is built?
Management (unnamed)
loan officer goes and meets the customer... credit officer on the field... within 45 days a vigilance team goes and visits the customer to see whether asset has been purchased or inventory used.
Answered
Medium priority
Competition trends in mortgage loan product.
Asked by Samir Desia
Addressed competition and positioning.
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Question
could you highlight some trends on how competition has been in the mortgage loan product?
Management (unnamed)
there are many providers... fair amount of supply... we don't see a direct face-to-face competition... we want to grow to 30%... interest rates are in line with the market.
Answered
High priority
Is 30% growth rate for FY26 and FY27 a fair conclusion?
Asked by Samir Desia
Affirmed target and referenced historical performance.
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Question
fair to conclude that F26 and 27 you could grow in the range of 30% or more. Is that a fair conclusion?
Management (unnamed)
I would think that this is what we should target and it is not beyond us to grow at that pace. We have shown better growth than this in the historic years.
Answered
High priority
Is 4% ROA reasonable for FY27 if credit cost declines below 4%?
Asked by Samir Desia
Provided quantitative levers and implied ROA improvement.
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Question
if credit cost were to decline below 4% as we enter into FY27, is 4% ROA for next year a reasonable expectation?
Management (unnamed)
we delivered a R of 2.5%... if trade cost goes below four then we have at least a 65 basis points improvement... operating expense... will gradually drop... that brings you into that range that you're talking of.
Answered
Medium priority
Are we targeting growth in a particular region or pan-India?
Asked by Rohitas Aurora, Individual Investor
Clear answer on geographic strategy.
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Question
as we are targeting to grow at more than 30% growth rate are we looking to grow at more at a particular region of pan India?
Management (unnamed)
it will be across the country... no specific state we would avoid... certain states show better promise and better productivity which we focus on.