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Bajaj Finance Ltd (BAJFINANCE) — concall transcript | 30 September 2024(2 announcements)

· BSE 🟡 Notable Neutral
By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings
1 concall transcript 🟡 Notable Neutral 📄 PDF
2 concall transcript 🟡 Notable Neutral 📄 PDF
📢 Key Event
Bajaj Finance reports strong AUM growth and PAT increase amid rising credit costs and asset quality pressures.
🔄 What Changed
Net NPA rose 38 bps to 46 bps; Stage-2/3 assets fell to 542 crores; credit cost guidance maintained at 185-195 bps; rural B2C growth improved to 12-14%; festive season demand up 20-21% unit growth.
🔮 What's Next
Loan loss ratios to decline to ~2% by Q4; NIM to improve 10-12 bps with 25 bps repo rate cut; FY25 AUM growth target of 27-28%; rural B2C growth to normalize to 23-25% next year; non-captive business risk cost half of captive.
💡 Investor Takeaway
Shareholders should note rising credit costs and asset quality pressures are being managed with targeted portfolio shifts and efficiency gains, but near-term profitability may face headwinds despite strong growth momentum.

Bajaj Finance reported 19,732 crores AUM growth and 9.7 million loans booked in Q2 FY25, with PAT up 13% to 4,014 crores and ROE at 19.1%. AUM reached 3.74 lakh crores, net NPA at 46 bps, and gross loan losses at 2.16%. Management expects loan loss ratios to decline to ~2% by Q4, with NIM to improve 10-12 bps on a 25 bps repo rate cut. New businesses contribute 2-3% to AUM growth, targeting 27-28% FY25 expansion. Rural B2C shows early recovery with 12-14% growth, while SME and urban B2C lending face watchlist pressures. Credit costs remain elevated at 185-195 bps (target 205 bps full-year), with Stage-2/3 assets falling to 542 crores. Festive season demand surged 20-21% in unit growth, driven by electronics and rural consumption.

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About Bajaj Finance Ltd (BAJFINANCE)

Financial Services · Finance · Listed on BSE

Market Cap: ₹6,58,083.37 Cr P/E: 32.4 ROE: 18.1% ROCE: 10.4% Div Yield: 0.57%

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🔥 Also filed on 30 September 2024

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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