Overview
- Bajaj Finance cut its FY26 assets under management growth guidance to 22–23%, triggering a sharp sell‑off in early trade on Nov. 11.
- Q2 FY26 consolidated profit rose about 23% to roughly Rs 4,948 crore, with AUM up 24% to Rs 4.62 lakh crore and net interest income higher by 22%.
- Asset quality weakened as gross NPA climbed to 1.24% and net NPA to 0.60%, while loan losses and provisions increased around 19%.
- Management flagged elevated credit costs near the top of its 1.85%–1.95% guidance range and highlighted stress in MSME and captive two‑/three‑wheeler portfolios, with tighter unsecured MSME disbursals.
- Analyst views diverged, with Jefferies and CLSA retaining positive calls even as others trimmed estimates; elsewhere in Q2 results, Bajaj Auto posted strong margins while Emami’s profit fell about 30%.