Geopolitical/macroeconomic uncertainty
Global geopolitical tensions could impact borrower behavior, though management sees minimal direct exposure.
FIVESTARBUSINESSFINANCE / bear-case history
Track the concerns that keep returning.
Five Star Business · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Potential overleveraging in MFI sector
Overleveraging in microfinance could continue to spill over into secured loan portfolios, affecting asset quality.
Senior management exits
A senior management exit during the year created overhang, but management downplays impact on performance.
Cost of funds may not decline further
Geopolitical challenges and liquidity uncertainty may limit further reduction in cost of funds in FY27.