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.

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

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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<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-finance-ltd" target="_blank" data-smartkarma-citation="entities:8950:1" rel="noopener">Bajaj Finance (BAF)</a> reported a strong Q1FY24 earnings, led by an all-time-high quarterly AUM growth of INR 22718cr. With this, BAF has upgraded its FY24 AUM growth guidance to 29-31%.</li>
<li>AUM growth was aided by the highest ever new loans in a quarter. New loans booked at 9.94mm in Q1FY24 were up 34% YoY and 31%+ QoQ.</li>
<li>Opex-To-NII has come down to 34.0% vs 35%+ earlier, led by operational leverage and deceleration in investments. This has helped the ROE to jump to 24.0% vs 23.1% YoY.</li>
</ul>



Bajaj Finance (BAF) reported a strong Q1FY24 earnings, led by an all-time-high quarterly AUM growth of INR 22718cr. With this, BAF has upgraded its FY24 AUM growth guidance to 29-31%.
AUM growth was aided by the highest ever new loans in a quarter. New loans booked at 9.94mm in Q1FY24 were up 34% YoY and 31%+ QoQ.
Opex-To-NII has come down to 34.0% vs 35%+ earlier, led by operational leverage and deceleration in investments. This has helped the ROE to jump to 24.0% vs 23.1% YoY.


Bajaj Finance: Strong Q1FY24 Earnings - Guidance Upgraded

<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>Q1FY24 AUM growth came in stellar at 9%+ QoQ, led by highest-ever quarterly AUM addition of INR 22700cr vs INR 16537cr QoQ. </li>
<li>BAF recorded its highest-ever quarterly increase in customer franchise at 3.84mm, taking the total to 72.98mm vs 69.14mm QoQ. New loans booked were also strong at 9.94mm vs 7.56mm QoQ.</li>
<li>Deposits book grew strong to INR 49,900cr vs INR 44,666cr, a growth of 11.7%+ QoQ. Liquidity surplus is at INR 12,700cr vs INR 11,852cr QoQ.</li>
</ul>


Q1FY24 AUM growth came in stellar at 9%+ QoQ, led by highest-ever quarterly AUM addition of INR 22700cr vs INR 16537cr QoQ. 
BAF recorded its highest-ever quarterly increase in customer franchise at 3.84mm, taking the total to 72.98mm vs 69.14mm QoQ. New loans booked were also strong at 9.94mm vs 7.56mm QoQ.
Deposits book grew strong to INR 49,900cr vs INR 44,666cr, a growth of 11.7%+ QoQ. Liquidity surplus is at INR 12,700cr vs INR 11,852cr QoQ.


Bajaj Finance: Q1FY24 Interim Update - Stellar Growth Continues

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 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: Strong Q1FY24 Earnings - Guidance Upgraded

BAF reported a strong Q1FY24 with record AUM growth and customer acquisition, leading it to upgrade its FY24 guidance. At current valuation, BAF...

Ankit Agrawal, CFA

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: Q1FY24 Interim Update - Stellar Growth Continues

BAF continues to post stellar growth despite elevated competition. The growth is being driven by BAF's burgeoning distribution led by its...

Ankit Agrawal, CFA

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