Daily Brief India: Amber Enterprises India, Bajaj Finance Ltd, DailyHunt, Kwg Property Holding and more

• Amber Enterprises India (AMBER IN)  is one of the key ODM players in the RAC and related industry.
• However, there are couple of puzzling forensic takeaways, especially in F22 where company had reported high growth in numbers.
• These primarily include the rationale behind debt increase, puzzling subsidiary numbers, discrepancy in inventory verification, etc.

• Bajaj Finance Ltd (BAF IN) [“BAF”] reported Q1FY23 PAT of approx. INR 2600cr which puts it on track to post INR 11,000cr+ PAT in FY23, in line with our projections. 
• BAF is back on its pre-COVID growth trajectory as also highlighted in our prior note. Q1FY23 AUM growth came in at 6.2% QoQ and annualized ROE is back to 20%+.
• The strong Q1FY23 earnings is despite elevated competition in the marketplace which led BAF to forgo business where margin profile was not attractive.

• DailyHunt (1449267D IN) is one of India’s leading vernacular content curation and engagement platforms and also one of the most funded content startups. 
• Channel interactions indicate a challenging competitive position that requires constant cash burn. 
• In terms of financials, there is no sight of profitability in the near term. Unless that changes, it is best to remain cautious. 

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Lifestyle International Holdings
2. Vedanta Resources
3. Tata Motors Ltd
4. China South City
5. Seazen (Formerly Future Land)

and more…