CreditAccess Grameen Shares Surge 10% on Strong Q3 Turnaround and Brokerage Upgrades

CreditAccess Grameen’s stock jumped 10.4% to ₹1,496.70 on the NSE following a dramatic turnaround in its Q3 FY26 performance—posting a net profit of ₹252 crore, reversing a year-ago loss of ₹99.5 crore. Revenue rose 8% YoY to ₹1,490 crore, while EBITDA more than doubled to ₹813 crore, driving margins up to 54.5% from 26.1%. The strong recovery was fueled by sharply improved asset quality, with credit costs plunging 310 bps QoQ to 5.6% and write-offs falling to 3.9% (from 10.5% in Q2). Multiple brokerages upgraded the stock: Nomura raised target to ₹1,450 and upgraded to ‘Buy’, citing 18–19% loan growth and ROE potential of 17–19%. HSBC Global lifted rating to ‘Buy’ with a target of ₹1,630 (31% upside), noting the company is in a sector-wide revival phase and likely to raise FY27 guidance. JM Financial moved to ‘Buy’, maintaining a ₹1,530 target, highlighting undervaluation at 1.9x FY28 P/BV despite improving ROA (expected 4.5%) and AUM growth. With management guiding for 20% AUM growth and better credit costs ahead, investors are regaining confidence. The rally reflects optimism that CreditAccess Grameen has successfully navigated past stress and is now poised for sustainable profitability.