External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Healthy operating metrics: BAF reported a healthy quarter across financial and operational metrics.</li><li>The company added 3.58 Mn customers during the quarter (vs. 2.6/3.8 Mn customers YoY/QoQ), taking the total customer base to 76.6 Mn customers (+22/5% YoY/QoQ).</li><li>The company booked ~8.5 Mn loans during the quarter (+25% YoY, -14% QoQ, largely seasonal) </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthy operating metrics: BAF reported a healthy quarter across financial and operational metrics.The company added 3.58 Mn customers during the quarter (vs. 2.6/3.8 Mn customers YoY/QoQ), taking the total customer base to 76.6 Mn customers (+22/5% YoY/QoQ).The company booked ~8.5 Mn loans during the quarter (+25% YoY, -14% QoQ, largely seasonal) Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Finance Ltd - Healthy Quarter; Growth Momentum to Continue!

<ul><li>Bajaj Finance (BAF) is one of India’s largest NBFCs for consumer finance with a wide product portfolio comprising of loans for two-wheelers, consumer durables, housing, and small businesses among others.</li><li>The company operates its business through 1,400+ urban and 2,400+ rural lending branches, with over 1.6+ Lc distribution points and caters to a customer base of 73 Mn as on Jun’23.</li><li>AUM growth levers intact: In Q1FY24, BAF reported a strong operational performance adding 3.84 Mn customers (+41%/24% YoY/QoQ) and booking ~9.9 Mn (+34%/31% YoY/QoQ) loans. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Finance (BAF) is one of India’s largest NBFCs for consumer finance with a wide product portfolio comprising of loans for two-wheelers, consumer durables, housing, and small businesses among others.The company operates its business through 1,400+ urban and 2,400+ rural lending branches, with over 1.6+ Lc distribution points and caters to a customer base of 73 Mn as on Jun’23.AUM growth levers intact: In Q1FY24, BAF reported a strong operational performance adding 3.84 Mn customers (+41%/24% YoY/QoQ) and booking ~9.9 Mn (+34%/31% YoY/QoQ) loans. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - Bajaj Finance Ltd - 03 OCT 2023

<ul><li>Healthy operating metrics: BAF added 3.84 Mn customers during the quarter (vs 2.7/3.1 Mn customers YoY/QoQ, +41%/24% YoY/QoQ), taking the total customer base to 73 Mn customers (+21%/6% YoY/QoQ).</li><li>The company booked ~9.9 Mn (+34%/31% YoY/QoQ) loans during Q1FY24.</li><li>Encouraging operational performance: AUM growth was driven by rural business (+21%/7% YoY/QoQ) and mortgages (+27%/7% YoY/QoQ) and pick-up in 2/3-Wheeler finance (+48%/14% YoY/QoQ). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthy operating metrics: BAF added 3.84 Mn customers during the quarter (vs 2.7/3.1 Mn customers YoY/QoQ, +41%/24% YoY/QoQ), taking the total customer base to 73 Mn customers (+21%/6% YoY/QoQ).The company booked ~9.9 Mn (+34%/31% YoY/QoQ) loans during Q1FY24.Encouraging operational performance: AUM growth was driven by rural business (+21%/7% YoY/QoQ) and mortgages (+27%/7% YoY/QoQ) and pick-up in 2/3-Wheeler finance (+48%/14% YoY/QoQ). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Finance Ltd. - Strong Start to FY24, Momentum To Continue!

<ul><li>Robust customer acquisition; BAF added 3.1 Mn customers during Q4FY23 (vs 2.2/3.1 Mn customers YoY/QoQ), taking the total customer base to 69.1 Mn customers.</li><li>The company booked ~7.6 Mn loans during the quarter (+21% YoY, flat QoQ).</li><li>The cross-sell franchise stood at 40.6 Mn customers (+24/5% YoY/QoQ).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust customer acquisition; BAF added 3.1 Mn customers during Q4FY23 (vs 2.2/3.1 Mn customers YoY/QoQ), taking the total customer base to 69.1 Mn customers.The company booked ~7.6 Mn loans during the quarter (+21% YoY, flat QoQ).The cross-sell franchise stood at 40.6 Mn customers (+24/5% YoY/QoQ).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Finance Ltd. - RoA to Remain Strong Despite Margin Pressures!

<ul><li>Long Range Strategy (LRS) to drive sustainable growth – As a part of the long-range strategy rolled out by Bajaj Finance (BAF), the company aspires to be a leading payments and financial services company in the country and look to dominate with 100 Mn consumer franchise commanding a market share of 3% of payments GMV and ~3-4%/4-5% of total credit/retail credit.</li><li>Focus remains on margin protection – The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.</li><li>The company is gradually passing on the impact of higher interest rates to customers (~50-70bps in the fixed loan products and entirely in the variable loans) across businesses.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Long Range Strategy (LRS) to drive sustainable growth – As a part of the long-range strategy rolled out by Bajaj Finance (BAF), the company aspires to be a leading payments and financial services company in the country and look to dominate with 100 Mn consumer franchise commanding a market share of 3% of payments GMV and ~3-4%/4-5% of total credit/retail credit.Focus remains on margin protection – The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.The company is gradually passing on the impact of higher interest rates to customers (~50-70bps in the fixed loan products and entirely in the variable loans) across businesses.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Finance Ltd. - Focus on Margin Protection Unabated

India

Bajaj Finance is an Indian deposit-taking non-banking financial company (NBFC) that offers a diversified portfolio of financial products and services. These include consumer loans, SME and commercial lending, rural lending, fixed deposits, and various investment and insurance products. The company is headquartered in Pune, India, and was founded on March 25, 1987.

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Bajaj Finance (BAF IN)

Bajaj Finance Ltd - Healthy Quarter; Growth Momentum to Continue!

The company added 3.58 Mn customers during the quarter (vs. 2.6/3.8 Mn customers YoY/QoQ), taking the total customer base to 76.6 Mn customers (+22...

Axis Direct

Pick of the Week - Bajaj Finance Ltd - 03 OCT 2023

The company operates its business through 1,400+ urban and 2,400+ rural lending branches, with over 1.6+ Lc distribution points and caters to a...

Axis Direct

Bajaj Finance Ltd. - Strong Start to FY24, Momentum To Continue!

Healthy operating metrics: BAF added 3.84 Mn customers during the quarter (vs 2.7/3.1 Mn customers YoY/QoQ, +41%/24% YoY/QoQ),

Axis Direct

Bajaj Finance Ltd. - RoA to Remain Strong Despite Margin Pressures!

Robust customer acquisition; BAF added 3.1 Mn customers during Q4FY23 (vs 2.2/3.1 Mn customers YoY/QoQ), taking the total customer base to 69.1 Mn...

Axis Direct

Bajaj Finance Ltd. - Focus on Margin Protection Unabated

The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.

Axis Direct

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