Executive Summary

This report provides a pool-wise summary of the performance of all ICRA-rated ABS transactions that were live between November 2025 and April 2026. In total, the performance of 411 transactions across 71 originators, covering a wide variety of asset classes such as commercial vehicle (CV), auto (car), construction equipment (CE), tractor, two-wheeler, micro, small & medium enterprise (MSME), machinery loans, loans against gold and micro loans, is discussed in the report.

For each transaction, the key performance parameters, including cumulative collection efficiency (CCE), static and dynamic delinquency profile, prepayment rate and credit enhancement utilisation, are assessed. The report also contains details of ICRA’s rating actions (new ratings assigned, ratings upgraded, ratings downgraded and ratings reaffirmed) between November 01, 2025 and April 30, 2026.

ICRA has also analysed asset class-wise performance for its rated pools, covering asset classes such as CV loans, micro loans and MSME loans. The analysis focuses on key parameters such as cumulative collection, monthly collection and quarterly collection trends. Delinquency trends and credit enhancement utilisation trends have also been captured.