Q4 FY26 was a decisive quarter of strategic recalibration for the Bank, marked by a disciplined shift toward portfolio quality, secured asset expansion, and operational strengthening. The operating environment remained influenced by residual MFI stress; however, the Bank demonstrated steady progress through focused execution and structural interventions aimed at long-term resilience. During the quarter the Bank continued to prioritise stability over speed, focusing on tighter underwriting, stronger collections and a purposeful rebalancing of the portfolio mix. These actions produced tangible green shoots: disbursements improved across both JLG and non-JLG segments, JLG X-bucket collection efficiency strengthened to 99.7% in the month of March 2026 – the highest in four quarters of FY26, fresh NPA slippages (net of recoveries and upgradations) declined materially to ~₹170 crore in Q4 FY26 vs. ~₹710 crore in Q4 FY25, and the GNPA ratio improved by ~330 bps QoQ to 7.7% as of March 2026. These outcomes reflect the combined impact of field execution, targeted collection initiatives and structural interventions implemented throughout the year. A central strategic priority has been structural de-risking of unsecured exposure and a deliberate pivot to secured, higher-yield and lower-risk portfolios. Non-JLG portfolios – comprising MBBL, MSME, Housing, BBG, etc. – registered robust momentum, with the MBBL portfolio growing by 122% YoY. Deposits mobilisation remained a key focus to support calibrated growth. The CASA + RTD ratio strengthened to 83% from 71% a year earlier. Cost of funds declined as repricing took effect, moving down by more than 45 bps YoY in Q4 FY26. To further de-risk incremental flows, the Bank registered with CGFMU for credit-guarantee coverage on eligible JLG and MBBL disbursements. Technology investments under the Utkarsh 2.0 transformation delivered automation, digital underwriting and 360-degree monitoring capabilities that are already improving productivity and risk control. The capital position remains satisfactory following a successful ₹950 crore rights issue in November 2025, which materially strengthened Tier-1 capital. The Bank remains focused on sustaining improved collections, continuing calibrated disbursements into higher-quality segments, deepening secured lending toward a target mix, and accelerating liability mobilisation to support prudent growth. With foundational shifts underway, the Bank is positioning itself for the coming years to deliver diversified growth, healthier underwriting outcomes and long-term value creation for stakeholders.