Overview
- Bajaj Finance reported consolidated Q2 profit of about Rs 4,875–4,948 crore with AUM up 24% to Rs 4.62 lakh crore, but gross NPA rose to 1.24% and net NPA to 0.60% with loan-loss provisions up roughly 19%.
- Management guided FY26 AUM growth to 22–23% and indicated credit costs would stay near the upper end of the 1.85–1.95% range, with MSME lending scaled back and growth in that segment pegged at 10–12%.
- The stock fell more than 7% in early trade to roughly Rs 1,008–1,010 as investors reacted to softer growth guidance and asset-quality pressure, even as several brokerages remained split on the outlook.
- Jefferies and CLSA kept Bajaj Finance as a top pick with raised or reiterated targets, while others including Bernstein and Emkay were cautious, citing elevated credit costs, moderating growth and competition.
- Bajaj Auto posted record Q2 revenue near Rs 15,000 crore, EBITDA of Rs 3,052 crore and a 20.5% margin with strong export growth, though brokers flagged domestic motorcycle market-share losses and noted recent EV motor re-homologation to address rare-earth magnet constraints.