Credit cost may rise with micro-loan portfolio growth
Management guided credit cost at 80-90 bps, up from historical ~70 bps, citing conservatism and micro-loan growth. If asset quality deteriorates, credit costs could exceed guidance.
CGCL / Q2-FY26 / risks
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Capri Global Capital · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
MSME asset quality improvement driven by ARC sale, not organic
MSME gross NPA reduction from 4.3% to 3.1% was largely due to ₹79 crore ARC sale. Excluding that, NPA levels were flat QoQ, indicating underlying stress remains.
Co-lending regulatory changes could impact fee income
New co-lending guidelines (CLM 2.0) may alter economics. Management expects no impact, but transition risks remain if banks adjust terms.