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

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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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-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

Bajaj Finance  - Shocking Net New NPL Increase

Bajaj Finance – Positive Turn In Credit

Bajaj Finance: Limited Margin of Safety in Light of Near Term Headwinds

Bajaj Finance: The Stellar Growth Streak Continues!

Indian NBFCs - Equity Opportunities: Pessimism Bottoming Out, Time to Accumulate

Equity Bottom-Up

Ex of COVID-19 provisioning, <a href="https://www.smartkarma.com/entities/bajaj-finance-ltd" target="_blank" data-smartkarma-citation="entities:8950:1" rel="noopener">Bajaj Finance (BAF IN)</a> reported strong earnings growth of 38% YoY in Q4FY20. However, the critical quarter is going to be the current quarter where lockdown impact is being experienced fully. There were some notable updates in this regards from the management on the conference call. Please read the detailed note below for the updates and other structural headwinds/tailwinds posing the business.
Insight Flow:
<ul>
<li>Asset Quality - Bounce Rate, Moratorium Update &amp; COVID-19 Provisioning</li>
<li>Focus Areas in the Current Environment</li>
<li>Balance Sheet Strength: Liquidity &amp; Capital Adequacy</li>
<li>Structural Headwinds/Tailwinds Emerging from COVID-19 Crisis</li>
<li>Conclusion</li>
</ul>

Ex of COVID-19 provisioning, Bajaj Finance (BAF IN) reported strong earnings growth of 38% YoY in Q4FY20. However, the critical quarter is going to be the current quarter where lockdown impact is being experienced fully. There were some notable updates in this regards from the management on the conference call. Please read the detailed note below for the updates and other structural headwinds/tailwinds posing the business.
Insight Flow:

Asset Quality - Bounce Rate, Moratorium Update &amp; COVID-19 Provisioning
Focus Areas in the Current Environment
Balance Sheet Strength: Liquidity &amp; Capital Adequacy
Structural Headwinds/Tailwinds Emerging from COVID-19 Crisis
Conclusion


Bajaj Finance: Quick Update Post Q4FY20 Results

Bajaj Finance Ltd

Bajaj Finance: Quick Update Post Q4FY20 Results