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Microfinance lender (NBFC-MFI) Historical case study · data as of 27 Jul 2026 · published 30 Oct 2026 (95 days later)

CreditAccess Grameen — 100-point case study

How CreditAccess Grameen looked on 50 technical and 50 fundamental measures on 27 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: CREDITACC · BSE: 541770
Close on 27 Jul 2026	₹1,591.10
Market cap then	₹25,545 crore
Valuation	P/E 32.8× · P/B 3.26×
Momentum	RSI (14) 64 · 1-year return +21.6%
Next 3 months	-35.8% vs Nifty 50 -5.4% (to 28 Oct 2026)

Scorecard

Technical — 50 points

29 bullish · 18 neutral · 1 caution · 1 bearish — the picture leaned positive.

Fundamental — 50 points

11 bullish · 35 neutral · 2 caution · 1 bearish — the picture leaned positive.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: As a lender, CreditAccess Grameen is assessed on NII, NIM, asset quality and capital adequacy. Its gross/net NPA figures use the company's own 60+ days-past-due measure for microfinance loans. It takes no deposits, so CASA and deposit points show n/a. Price data ends 28 Oct 2026.

Technical analysis — 50 points

Calculated by code from daily prices up to 27 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope -0.08%/day	Neutral	Over the last 20 sessions the regression line of closing prices was falling about 0.08% a day — a flat, sideways phase. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return +28.7%	Bullish	The 100-session trend line was up (+0.28%/day) and the stock was +28.7% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return +21.6%	Bullish	Compared with a year earlier the price was +21.6%. A strong positive year. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 1,441.26 / 30W 1,328.13	Bullish	On the weekly chart the stock showed a weekly close above a rising 10-week and 30-week average stack. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 1,332.70→1,608.10; lows 1,229.10→1,354.10	Bullish	The two most recent swing points showed higher swing highs and higher swing lows — classic uptrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	28.2	Bullish	ADX at 28.2 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 29.0 / –DI 12.3	Bullish	+DI was above –DI: upward price pressure outweighed downward pressure. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	1,523.42 (+4.4%)	Bullish	Close of 1,591.10 was 4.4% above the 20-day SMA — the short-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	1,408.20 (+13.0%)	Bullish	Close of 1,591.10 was 13.0% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	1,328.86 (+19.7%)	Bullish	Close of 1,591.10 was 19.7% above the 200-day SMA — the long-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 1,523.37 / 21E 1,499.08	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 15 Jun 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	last golden cross 19 Jun 2026	Bullish	The 50-day average was 6.0% above the 200-day. The most recent signal was a golden cross on 19 Jun 2026. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	+5.7% in 20 sessions	Bullish	The 50-day average rose 5.7% over the past month — rising. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	1,523 / 1,408 / 1,330 / 1,329	Bullish	The 20/50/100/200-day averages were perfectly stacked bullish (20 > 50 > 100 > 200). Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	1,551.05 (+2.6%)	Bullish	Anchored to the start of July, the volume-weighted average price was 1,551.05; the close was above it — buyers that month were on average in profit. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	64.3	Bullish	RSI at 64.3 showed positive momentum without being overbought. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 30.79 / signal 33.52	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	-9.04 → -2.72	Bullish	The histogram rose over the last five sessions, meaning momentum was improving. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	30.79	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 51.9 / %D 37.4	Bullish	Slow stochastic at 51.9 was mid-range with %K above %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-14.5	Caution	%R of -14.5 put the close near the top of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	137	Bullish	CCI at 137 signalled an unusually strong upward deviation (>+100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	+3.3%	Bullish	Price changed +3.3% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.95 (bands 1,448.73–1,598.11)	Neutral	%B of 0.95 — inside the bands, upper half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 9.8% (17th pct of 6M)	Neutral	Band width was at the 17th percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹53.05 (3.3% of price)	Neutral	A typical day's range was about ₹53.05, or 3.3% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	39.5% vs 1Y 40.0%	Neutral	Annualised 30-day volatility was 39.5%, close to the one-year level of 40.0%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	1,391.57–1,611.25	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	0.95	Neutral	A beta of 0.95 means the stock tended to move roughly in line with the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 7.66× / 5-day 1.93×	Neutral	The final session traded 7.66× its 20-day average volume and the last five sessions averaged 1.93× — heavier than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 1.80	Bullish	Average volume on up days was 1.80× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price rose — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	rising (20d)	Bullish	The A/D line rose, meaning closes tended to be in the upper part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	0.19	Bullish	CMF at +0.19 indicated net inflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	66.5	Bullish	MFI, a volume-weighted RSI, was 66.5. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹77 cr/day	Neutral	About ₹77 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	1,464.10 / 1,328.93 / 1,266.67	Neutral	Nearest support (prior swing lows) sat at 1,464.10, 8.7% below the close, then 1,328.93, 1,266.67. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	1,608.10	Neutral	Nearest resistance (prior swing highs) sat at 1,608.10, 1.1% above the close. How to read: Information only.
40	Monthly pivot points (for next month)	P 1,553.87 \| R1 1,651.23 \| S1 1,493.73	Neutral	Classic pivots from July's high/low/close gave a pivot of 1,553.87; the close was above it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 1,496 \| 38.2% 1,423 \| 50.0% 1,364 \| 61.8% 1,304	Neutral	Measuring the 6-month rise from 1,113.00 to 1,614.00, the close was nearest the 23.6% retracement at 1,495.76. How to read: Information only.
42	52-week high / low	H 1,614.00 / L 1,113.00	Bullish	The close was 1.4% below the 52-week high and 43.0% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	3 open; latest gap-up 27 Jul at 1,522.00	Neutral	There were 3 unfilled gap(s). The latest, a gap-up on 27 Jul 2026, left an open level at 1,522.00 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	pullback inside a larger uptrend	Neutral	Rule-based pattern scan: pullback inside a larger uptrend. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 1,422.00–1,608.10	Neutral	The close was inside the prior 20-day range of 1,422.00–1,608.10. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Doji	Neutral	On 27 Jul the candle opened 1,585.50, ranged 1,550.10–1,614.00 and closed 1,591.10: Doji — indecision. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 1,335.55–1,363.05; Tenkan 1,535.25 / Kijun 1,484.05	Bullish	Price was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M +9.1% / 3M +28.3%	Bullish	The stock outperformed the Nifty 50 by 28.3 points over three months and outperformed by 9.1 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +30.3%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 30.3 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	29 bullish · 1 bearish · 18 neutral · 1 caution	Bullish	Across the 49 readings the technical picture leaned positive. Levels that mattered: support 1,464.10, resistance 1,608.10. This is a description of the chart on 27 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 27 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 27 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	32.8×	Neutral	At ₹1,591.10 the market valued the company at about ₹25,545 crore, or 32.8× the ₹778 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	3.26×	Neutral	Market cap was 3.26× the Mar 2026 book value (equity + reserves) of ₹7,842 crore. For a bank, P/B is the main valuation yardstick. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Revenue (interest earned)	4.22×	Neutral	Market cap was 4.22× trailing-12-month revenue (mainly interest earned) of ₹6,058 crore. How to read: Information only.
4	Profit / Book (earnings power)	9.9%	Neutral	Trailing profit was 9.9% of book value — the return the bank was generating on the equity investors were paying 3.26× for. How to read: Information only.
5	Earnings yield	3.0%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹3.0 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	n/m	Neutral	PEG is not meaningful because 3-year profit growth was -2.0%. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	n/a	Neutral	Dividend history in our data window was not available. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹25,545 cr	Neutral	At about ₹0.26 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹729.78 vs ₹1,591.10	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹729.78; the price was 118% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+5.3%	Neutral	Revenue (interest earned) for FY26 was ₹6,059 crore, +5.3% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+13.5%	Bullish	The Jan–Mar 2026 quarter brought ₹1,597 crore of revenue, +13.5% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+46.5%	Bullish	FY26 net profit was ₹778 crore, +46.5% on FY25's ₹531 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+623.4%	Bullish	Quarterly profit was ₹340 crore versus ₹47 crore a year earlier (+623.4%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	20.2%	Caution	Revenue compounded at 20.2% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	-2.0%	Bearish	Net profit compounded at -2.0% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	19.7%	Caution	Over five years (FY21–FY26) revenue compounded at 19.7% a year. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	+45.9%	Bullish	Reported EPS went from ₹33.27 to ₹48.54 (+45.9%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Net interest margin (Q4 FY26)	14.20%	Bullish	NIM — the spread between what the bank earns on loans and pays on deposits — was 14.20% in Jan–Mar 2026 (as reported). Above ~3.5% is strong for an Indian bank. Bullish 3.5% or more · Bearish below 3.0% · Neutral 3.0–3.5%.
19	Net interest income growth (Q4 FY26)	+19.6%	Bullish	Core interest income after interest expense was ₹1,048 crore, +19.6% year on year (standalone, as reported). Bullish above 10% · Bearish below 5% · Neutral 5–10%.
20	Net profit margin FY26	12.8%	Neutral	₹12.8 of every ₹100 of interest-led revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	10.5%	Neutral	FY26 profit was 10.5% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	Leverage (assets ÷ equity)	4.1×	Neutral	Total assets were 4.1× equity — normal for banks, which fund most assets with deposits. How to read: Information only — banks normally run high leverage.
23	Return on assets FY26	2.44%	Bullish	Net profit was 2.44% of total assets. For banks, ROA above 1% is considered healthy. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	25%	Neutral	The company paid about 25% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Q4 FY26 standalone profit (reported)	₹340 cr (+619.4%)	Bullish	The bank's own (standalone) Jan–Mar 2026 profit as reported was ₹340 crore, +619.4% year on year. Bullish above 12% year on year · Bearish below 0% · Neutral 0–12%.

D. Asset quality & capital

#	Point	Reading	Tag	Commentary
26	Gross NPA (Q4 FY26)	3.17%	Neutral	Gross non-performing assets were 3.17% of loans — elevated. Bullish below 2% · Bearish above 4% · Neutral 2–4%.
27	Net NPA (Q4 FY26)	1.12%	Neutral	After provisions, net NPAs were 1.12% of loans. Bullish below 0.6% · Bearish above 1.5% · Neutral 0.6–1.5%.
28	CASA ratio	n/a	Neutral	Not reported in our sources for this period. Bullish above 40% · Bearish below 30% · Neutral 30–40%.
29	Capital adequacy (CRAR)	24.40%	Bullish	Capital adequacy was 24.40%, comfortably above the RBI minimum of 11.5% (incl. buffer). Bullish above 16% · Bearish below 13% · Neutral 13–16%. RBI minimum incl. buffer is 11.5%.
30	Loan (advances) growth	+14.0%	Neutral	Advances grew +14.0% year on year (as reported). Bullish above 14% · Bearish below 8% · Neutral 8–14%.
31	Deposit growth	n/a	Neutral	Not reported in our sources for this period. Bullish above 12% · Bearish below 7% · Neutral 7–12%.
32	Borrowings (consolidated)	₹23,641 cr	Neutral	Borrowings were ₹23,641 crore at Mar 2026 — lenders that don't take deposits fund their loans this way. How to read: Information only.
33	Book value growth	+12.7%	Bullish	Equity grew +12.7% to ₹7,842 crore — banks need book growth to support loan growth. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹-2,770 cr	Neutral	Operating cash flow was ₹-2,770 crore. For banks this swings with deposit and loan flows, so it says little about profitability. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Investing cash flow FY26	₹-101 cr	Neutral	Investing flows for banks mostly reflect securities and fixed-asset purchases. How to read: Information only — for banks these swing with deposit and loan flows.
36	Financing cash flow FY26	₹2,751 cr	Neutral	Financing flows reflect borrowings raised/repaid and dividends paid. How to read: Information only — for banks these swing with deposit and loan flows.
37	Net cash flow FY26	₹-120 cr	Neutral	Overall cash and balances changed by ₹-120 crore in FY26. How to read: Information only — for banks these swing with deposit and loan flows.
38	Investment book growth	+20.4%	Neutral	The investment portfolio (mostly government securities) moved +20.4% to ₹1,075 crore. How to read: Information only.
39	Loan growth minus deposit growth	n/a	Neutral	Not available. How to read: Caution when loans grew more than 4 points faster than deposits (funding pressure). Neutral otherwise.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	0%	Neutral	The company paid out about 0% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	11% / 0% / 0%	Neutral	Payout ratios for FY24 / FY25 / FY26 — dividends were irregular. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹160 cr → ₹160 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	66.21% (-0.22 pts YoY)	Neutral	Promoters owned 66.21% at Jun 2026 versus 66.43% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	13.48% (+1.35 pts YoY)	Bullish	FIIs held 13.48% at Jun 2026, up from 12.13% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	12.67% (-0.09 pts YoY)	Neutral	Mutual funds, insurers and other DIIs held 12.67%, down from 12.76%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	0.8 lakh (-22.4% YoY)	Neutral	The shareholder count moved from 1.0 lakh to 0.8 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	5/8	Neutral	Passed: positive profit, profit grew, ROA ≥ 1%, CRAR ≥ 14%, no meaningful dilution (<3%). Failed: gross NPA < 3%, net NPA < 1%, ROE ≥ 12%. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	0 strength(s) · 4 weakness(es)	Neutral	No strengths flagged. Weaknesses: Company has been maintaining a healthy (repeated) profit but not paying dividend (as summarised by fetch tool); Promoter holding has decreased over last quarter: -2.38%; Company has a low return on equity of 13.8% over last 3 years; Company has a low dividend payout of 3.67% over last 3 years. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	11 bullish · 1 bearish · 35 neutral · 2 caution	Bullish	On the numbers published by 27 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 32.8×, P/B 3.26×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 27 Apr 2026 – 27 Jul 2026 that an investor could have known on the snapshot date.

08 May 2026 CreditAccess Grameen Q4 FY26 profit rises ~620% YoY to about Rs 340 crore — Consolidated Q4 FY26 net profit about Rs 340 crore vs Rs 47.2 crore a year earlier; revenue up ~13% to about Rs 1,597 crore. Company deck: AUM Rs 29,590 crore (+14% YoY), GNPA 3.17%, NNPA 1.12%, NIM 14.2%, CRAR 24.4%. source
29 Jun 2026 CreditAccess Grameen raises Rs 425 crore via private placement of NCDs — Two NCD placements in June 2026: Rs 325 crore (2-year, 9.25% fixed, arranged by Nuvama; subscribers incl. Sundaram Finance, Nuvama Wealth Finance, Julius Baer) and a Rs 100 crore bilateral issue to Bajaj Finance (2-year, 9.15% floating). source
03 Jul 2026 CreditAccess Grameen reports record Q1 disbursements of Rs 6,107 crore in business update — Interim business update for June 2026: Q1 FY27 disbursements Rs 6,107 crore (+11.9% YoY), loan portfolio Rs 30,319 crore (+16.4%), PAR 90+ down to 1.5% from 2.3% in March 2026, June collection efficiency 99.68%, 2,276 branches. source
24 Jul 2026 CreditAccess Grameen Q1 FY27 PAT rises to Rs 493.4 crore from Rs 60.2 crore — Q1 FY27 results: AUM Rs 30,319 crore (+16.4% YoY), NII Rs 1,164 crore (+24.2%), PAT Rs 493.4 crore (+719.7%), credit cost Rs 212.5 crore (-62.8% YoY), GNPA 2.18%, NNPA 0.76%, CRAR 24.9%. source

What happened next (27 Jul 2026 → 28 Oct 2026)

Price went from ₹1,591.10 to ₹1,022.20 by 28 Oct 2026 (-35.8%) while the Nifty 50 moved -5.4% — underperforming by 30.3 points.
Highest ₹1,634.00 on 31 Jul 2026; lowest ₹993.90 on 26 Oct 2026.
S1 1,464.10: broken on a closing basis on 24 Aug 2026.
S2 1,328.93: broken on a closing basis on 24 Sep 2026.
R1 1,608.10: cleared on a closing basis on 30 Jul 2026.
200-day SMA: price was above it at the snapshot and crossed below on 24 Sep 2026.
Apr–Jun 2026 results (reported 24 Jul 2026): reported profit ₹493 crore (+719.7% YoY), NIM 14.40%, gross NPA 2.18%, net NPA 0.76%.

Later news

07 Aug 2026 Promoter CreditAccess India sells 2.28% stake in CreditAccess Grameen via block deals — Promoter CreditAccess India B.V. sold about 3.66 million shares (2.28%) through open-market block deals to provide liquidity to its long-term investors and widen free float; promoter held 66.21% at end-June (63.83% at end-Sept per Screener). source
29 Sep 2026 CreditAccess Grameen schedules analyst and investor meet; raised Rs 300 crore NCDs from Barclays — Company disclosed an analyst/investor meet on 30 Sept 2026. On 3 Sept 2026 it raised Rs 300 crore via senior secured NCDs placed bilaterally with Barclays Bank PLC (Rs 100 crore at 9.15% for 24 months; Rs 200 crore at 9.25% for 36 months). source
22 Oct 2026 CreditAccess Grameen Q2 FY27 PAT Rs 501.6 crore; ROA/ROE guidance raised — Q2 FY27: AUM Rs 30,946 crore (+19.5% YoY), PAT Rs 501.6 crore (+298.7%), credit cost Rs 299 crore (-43.2%), GNPA 1.79%, NNPA 0.59%, CRAR 26.9%. FY27 ROA guidance raised to 5.2-5.8% and ROE to 21-24%; AUM growth (20-25%) and credit cost (3-4%) guidance unchanged; loan pricing cut 50 bps from October. source

Educational summary. On 27 Jul 2026 the technical picture leaned positive and the fundamental picture leaned positive. Over the next three months the stock moved -35.8% against -5.4% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold CreditAccess Grameen today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 30 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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