Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

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Equity Bottom-Up

<ul>
<li>Anup Saha’s sudden resignation as MD of <a href="https://www.smartkarma.com/entities/bajaj-finance-ltd" target="_blank" data-smartkarma-citation="entities:8950:1" rel="noopener">Bajaj Finance Ltd (BAF IN)</a>, just three months into the role, raises succession planning concerns.</li>
<li>The architect of BAF’s growth resumes full control as VC &amp; MD until March 2028, ensuring near-term continuity.</li>
<li>While operations remain stable, the event sharpens focus on long-term leadership depth in India’s most premium NBFC.</li>
</ul>


Anup Saha’s sudden resignation as MD of Bajaj Finance Ltd (BAF IN), just three months into the role, raises succession planning concerns.
The architect of BAF’s growth resumes full control as VC &amp; MD until March 2028, ensuring near-term continuity.
While operations remain stable, the event sharpens focus on long-term leadership depth in India’s most premium NBFC.


Bajaj Finance CEO Resignation: Rajeev Jain Returns, But Succession Looms Large

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. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>FY25 was marked by yet another consistent and strong performance delivery by BAF across operational parameters.</li><li>The company resumed its growth trajectory post the lifting of the restrictions on 2 of its products (eCOM and InstaEMI) in early FY25 (May’24).</li><li>AUM growth was strong across segments, while the company did not shy away from holding back growth in segments where elevated stress was visible.</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.

FY25 was marked by yet another consistent and strong performance delivery by BAF across operational parameters.The company resumed its growth trajectory post the lifting of the restrictions on 2 of its products (eCOM and InstaEMI) in early FY25 (May’24).AUM growth was strong across segments, while the company did not shy away from holding back growth in segments where elevated stress was visible.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. - Delivering Strong Growth While Navigating Headwinds

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Bajaj Finance’s (BAF) consistent outperformance with an ever-expanding product portfolio has led it to scale up its AUM from INR 40bn in FY10 to INR 4,166bn in FY25 (36% CAGR)</li><li>With a superior execution engine and management succession in place, BAF aims to double its customer base and cross-sell franchise and reach an AUM of INR 9-10trn by FY29, along with sustained RoE of 20-22%</li><li>While FY25 profitability was impacted by higher-than-expected credit costs, we believe BAF is poised to continue delivering strong growth and profitability outcomes.</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’s (BAF) consistent outperformance with an ever-expanding product portfolio has led it to scale up its AUM from INR 40bn in FY10 to INR 4,166bn in FY25 (36% CAGR)With a superior execution engine and management succession in place, BAF aims to double its customer base and cross-sell franchise and reach an AUM of INR 9-10trn by FY29, along with sustained RoE of 20-22%While FY25 profitability was impacted by higher-than-expected credit costs, we believe BAF is poised to continue delivering strong growth and profitability outcomes.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: Best-In-Class Franchise, Charting New Milestones. Maintain BUY

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-finance-ltd" target="_blank" data-smartkarma-citation="entities:8950:1" rel="noopener">Bajaj Finance Ltd ("BAF")</a> reported a healthy Q4FY25, thus closing the full-year FY25 on a strong note.  AUM ended FY25 at INR 416,661cr, a growth of 26% YoY.</li>
<li>Customer franchise had crossed 100mm and is now close to 102mm. Notably, Bajaj Finserv App now has 70mm+ customers. FinAI transformation is also progressing well.</li>
<li>While FY25 had some challenges due to higher credit cost and NIM compression, BAF is all set to post a strong FY26 led by stable asset quality and NIM.</li>
</ul>



Bajaj Finance Ltd ("BAF") reported a healthy Q4FY25, thus closing the full-year FY25 on a strong note.  AUM ended FY25 at INR 416,661cr, a growth of 26% YoY.
Customer franchise had crossed 100mm and is now close to 102mm. Notably, Bajaj Finserv App now has 70mm+ customers. FinAI transformation is also progressing well.
While FY25 had some challenges due to higher credit cost and NIM compression, BAF is all set to post a strong FY26 led by stable asset quality and NIM.


Bajaj Finance: Decent FY25, All Set for a Strong FY26

<ul><li>Growth outlook remains healthy: BAF’s current market share in overall credit stands at ~2.1%, and the company intends to grow its AUM with a focus on improving the market share across segments.</li><li>Going ahead, AUM growth will be driven across segments with strong contribution from the core businesses and a gradual ramp-up in the newer secured businesses.</li><li>The gold and new car loans business continues to see strong traction, albeit on a lower base. </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.

Growth outlook remains healthy: BAF’s current market share in overall credit stands at ~2.1%, and the company intends to grow its AUM with a focus on improving the market share across segments.Going ahead, AUM growth will be driven across segments with strong contribution from the core businesses and a gradual ramp-up in the newer secured businesses.The gold and new car loans business continues to see strong traction, albeit on a lower base. 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. - Steady Quarter; Prioritising Asset Quality Over Growth!

India

Bajaj Finance Limited is a financial services company that operates branches in India, which provide an assortment of financial services.

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Bajaj Finance Ltd (BAF IN)

Bajaj Finance CEO Resignation: Rajeev Jain Returns, But Succession Looms Large

Anup Saha's sudden resignation at Bajaj Finance raises succession planning concerns, with the architect of growth taking full control for near...

Nimish Maheshwari

Bajaj Finance Ltd. - Delivering Strong Growth While Navigating Headwinds

The company resumed its growth trajectory post the lifting of the restrictions on 2 of its products (eCOM and InstaEMI) in early FY25 (May’24).

Axis Direct

Bajaj Finance: Best-In-Class Franchise, Charting New Milestones. Maintain BUY

Bajaj Finance’s (BAF) consistent outperformance with an ever-expanding product portfolio has led it to scale up its AUM from INR 40bn in FY10 to...

HDFC Securities

Bajaj Finance: Decent FY25, All Set for a Strong FY26

BAF reported a strong Q4FY25, resulting in overall FY25 being decent despite higher credit costs and larger NIM compression. FY26 is set to be a...

Ankit Agrawal, CFA

Bajaj Finance Ltd. - Steady Quarter; Prioritising Asset Quality Over Growth!

Growth outlook remains healthy: BAF’s current market share in overall credit stands at ~2.1%, and the company intends to grow its AUM with a focus...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bajaj Finance CEO Resignation: Rajeev Jain Returns, But Succession Looms Large

​Anup Saha's sudden resignation at Bajaj Finance raises succession planning concerns, with the architect of growth taking full control for near...

Nimish Maheshwari

Bajaj Finance Ltd. - Delivering Strong Growth While Navigating Headwinds

The company resumed its growth trajectory post the lifting of the restrictions on 2 of its products (eCOM and InstaEMI) in early FY25 (May’24).

Axis Direct

Bajaj Finance: Best-In-Class Franchise, Charting New Milestones. Maintain BUY

Bajaj Finance’s (BAF) consistent outperformance with an ever-expanding product portfolio has led it to scale up its AUM from INR 40bn in FY10 to...

HDFC Securities

Bajaj Finance: Decent FY25, All Set for a Strong FY26

BAF reported a strong Q4FY25, resulting in overall FY25 being decent despite higher credit costs and larger NIM compression. FY26 is set to be a...

Ankit Agrawal, CFA

Bajaj Finance Ltd. - Steady Quarter; Prioritising Asset Quality Over Growth!

Growth outlook remains healthy: BAF’s current market share in overall credit stands at ~2.1%, and the company intends to grow its AUM with a focus...

Axis Direct

Anup Saha's sudden resignation at Bajaj Finance raises succession planning concerns, with the architect of growth taking full control for near...