External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades.

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>Driven by sustained elevated credit costs (Q2 gross credit cost-to-AUF: 2.16%; Q1: 2.12%), Bajaj Finance (BAF) reported a slight miss on profitability with consolidated PAT of Rs40bn coming slightly lower than consensus/our estimates.</li><li>The elevated credit cost in H1 led to the management revising FY25 credit-cost guidance to 2.05% from 1.85% earlier; however, management seeing credit cost peaking in H1 is the silver lining.</li><li>To reflect the Q2 developments and management commentary, we have adjusted our FY25-27 estimates, which leads to a ~4% cut in earnings.</li></ul><p><em>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.</em></p>

Driven by sustained elevated credit costs (Q2 gross credit cost-to-AUF: 2.16%; Q1: 2.12%), Bajaj Finance (BAF) reported a slight miss on profitability with consolidated PAT of Rs40bn coming slightly lower than consensus/our estimates.The elevated credit cost in H1 led to the management revising FY25 credit-cost guidance to 2.05% from 1.85% earlier; however, management seeing credit cost peaking in H1 is the silver lining.To reflect the Q2 developments and management commentary, we have adjusted our FY25-27 estimates, which leads to a ~4% cut in earnings.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 - Credit Cost Peaking; Standalone Valuation Turns Attractive; BUY

Bajaj Finance Ltd

Bajaj Finance - Credit Cost Peaking; Standalone Valuation Turns Attractive; BUY