1. Opening Hook
While markets obsessed over fintechs and PSU divestments, V. Vaidyanathan was busy building patience as a business model.
Margins dipped, provisions trimmed, and CASA kissed 50% — and yet, the man smiled like a monk with a Bloomberg terminal.
He spoke less like a banker, more like a founder explaining “why compounding takes time.”
This wasn’t just an earnings call; it was a 22-page masterclass on how to look calm when your ROA’s still stuck at 0.5%.
Read on — it gets philosophical and mathematical.
2. At a Glance
- Customer Deposits ₹2.69 lakh cr (+23.4% YoY) – Deposits grew faster than the average Diwali shopping bill.
- CASA Ratio 50.1% (↑270 bps YoY) – Half the money comes free; the other half comes with sermons.
- Loan Book ₹2.67 lakh cr (+19.7% YoY) – Lending steady; microfinance still on timeout.
- PAT ₹352 cr (↓23.8% QoQ | ↑76% YoY) – Profits took a tea break after last quarter’s trading gains.
- NIM 5.59% (↓12 bps QoQ) – Margins bottomed, says CFO; investors whisper “we’ve heard that before.”
- GNPA 1.86% | NNPA 0.52% – Asset quality cleaner than most credit card statements.
- PCR 72.2% – Provisioning strong enough to survive another MFI storm.
3. Management’s Key Commentary
“Total customer business grew 21.6% YoY to ₹5.35 lakh cr.”
(Translation: We’re growing faster than our patience runs out.)
“MFI book degrew, but insurance coverage now 77%.”
(Basically—if borrowers default, at
