Over-leverage in MFI portfolio
Despite improvement, 7% of customers still have exposure to more than 3 lenders, posing risk if industry stress re-emerges.
FUSION / Q3-FY26 / risks
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Fusion Finance · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
medium
Execution risk in MSME scaling
MSME book is set to double; any underwriting slippage or collateral valuation issues could impact asset quality.
DTA recognition timing uncertainty
Management was non-committal on when the ₹380-400 crore DTA would be recognized, deferring to 'due course'.
High operating cost structure
Cost-to-income ratio at 69% remains elevated; management expects gradual improvement but no specific timeline.