BAJAJ FINANCE Q2 FY27 CONCALL HIGHLIGHTS π
π‘ Asset Quality
β’ Gross NPA at 1.06%; Net NPA at 0.42%.
β’ Created βΉ337 crore macroeconomic overlay provision.
β’ Macro provision at βΉ226 crore and management overlay at βΉ512 crore.
β’ Reduced lending to customers with multiple loans from 14% to 7%, targeting 3.5%.
πͺ Gold Loan Business
β’ Gold loan portfolio crossed βΉ24,000 crore, accounting for 4.1% of the balance sheet.
β’ Added 320 branches, taking the total to 2,022; target of 2,800 branches by year-end.
β’ Discontinued short-tenor schemes and shifted focus to longer-tenor loans.
π° Capital Raise
β’ Board approved βΉ11,700 crore QIP and βΉ5,800 crore preferential warrants.
β’ Targeting a lower leverage range of 5β5.5 times to strengthen the balance sheet and support growth.
π‘ Asset Quality
β’ Gross NPA at 1.06%; Net NPA at 0.42%.
β’ Created βΉ337 crore macroeconomic overlay provision.
β’ Macro provision at βΉ226 crore and management overlay at βΉ512 crore.
β’ Reduced lending to customers with multiple loans from 14% to 7%, targeting 3.5%.
πͺ Gold Loan Business
β’ Gold loan portfolio crossed βΉ24,000 crore, accounting for 4.1% of the balance sheet.
β’ Added 320 branches, taking the total to 2,022; target of 2,800 branches by year-end.
β’ Discontinued short-tenor schemes and shifted focus to longer-tenor loans.
π° Capital Raise
β’ Board approved βΉ11,700 crore QIP and βΉ5,800 crore preferential warrants.
β’ Targeting a lower leverage range of 5β5.5 times to strengthen the balance sheet and support growth.
β€1
BAJAJ FINANCE Q2 FY27 CONCALL HIGHLIGHTS π
π€ Technology & Digital
β’ FinAI team expanded to 328 employees.
β’ AI bots handle 75% of DIY customer service volumes.
β’ Digital disbursements grew 111% YoY.
β’ New B2B risk model indicates potential 15β20% improvement in risk outcomes.
π― FY27 Guidance
β’ AUM growth guidance at 26β27%.
β’ Medium-term AUM growth guidance maintained at 23β25%.
β’ Targeting 1.8β2 crore new customers and 6β6.2 crore new loans in FY27.
β’ Management expects FY27 to be one of the lowest years for credit costs.
β’ Monitoring El NiΓ±o risks and reducing exposure in affected districts.
π€ Technology & Digital
β’ FinAI team expanded to 328 employees.
β’ AI bots handle 75% of DIY customer service volumes.
β’ Digital disbursements grew 111% YoY.
β’ New B2B risk model indicates potential 15β20% improvement in risk outcomes.
π― FY27 Guidance
β’ AUM growth guidance at 26β27%.
β’ Medium-term AUM growth guidance maintained at 23β25%.
β’ Targeting 1.8β2 crore new customers and 6β6.2 crore new loans in FY27.
β’ Management expects FY27 to be one of the lowest years for credit costs.
β’ Monitoring El NiΓ±o risks and reducing exposure in affected districts.
β€1
ZERODHA, NIKHIL KΞΞΞ΀ΠSAYS
We Applied For More Of The Anchor Portion Than We Were Allotted
Demand For Jio IPO Is Far Higher Than Supply, ARPUs May Go Up As Consumption Rises
Jio IPO Is A Bright Spot In A Somewhat Bleak Time For The Market
I Think People Are Pricing IPOs Better, Leaving Something On The Table
We Were Hoping For βΉ500 Cr Of Jio IPO, Got Only βΉ25 Cr Allotment
We Applied For More Of The Anchor Portion Than We Were Allotted
Demand For Jio IPO Is Far Higher Than Supply, ARPUs May Go Up As Consumption Rises
Jio IPO Is A Bright Spot In A Somewhat Bleak Time For The Market
I Think People Are Pricing IPOs Better, Leaving Something On The Table
We Were Hoping For βΉ500 Cr Of Jio IPO, Got Only βΉ25 Cr Allotment
π³1π1
Bazaar.Updateπ
ZERODHA, NIKHIL KΞΞΞ΀ΠSAYS We Applied For More Of The Anchor Portion Than We Were Allotted Demand For Jio IPO Is Far Higher Than Supply, ARPUs May Go Up As Consumption Rises Jio IPO Is A Bright Spot In A Somewhat Bleak Time For The Market I Think Peopleβ¦
ZERODHA, NIKHIL KΞΞΞΞ€Ξ
Lot Of Al Cos In The US Don't Have A Very Defensible Moat
Prefer Open Source Al Models
Hope Al Grows In India Rather Than Sharing Our Data With Foreign Countries
In Many Ways If I Were To Study Bubbles Of The Past, There Are Signs Of It
Hoping This Time Is Different w.r.t The Al Bubble
Lot Of Al Cos In The US Don't Have A Very Defensible Moat
Prefer Open Source Al Models
Hope Al Grows In India Rather Than Sharing Our Data With Foreign Countries
In Many Ways If I Were To Study Bubbles Of The Past, There Are Signs Of It
Hoping This Time Is Different w.r.t The Al Bubble
π1
Hyundai, Maruti, Tata Motors PV and M&M IN Focus β 14% drop in registration
BofA Says
Early data points from Vahan registrations suggest mixed trends
PVs are lagging, with registrations down 14% YoY
Discounts stepping up, particularly in SUVs
Commercial segments, trucks are trending up almost 50% YoY, albeit on a benign CV base
2Ws appear to be holding up well despite a high base, with 6% YoY growth
Tractors appear steady as well
BofA Says
Early data points from Vahan registrations suggest mixed trends
PVs are lagging, with registrations down 14% YoY
Discounts stepping up, particularly in SUVs
Commercial segments, trucks are trending up almost 50% YoY, albeit on a benign CV base
2Ws appear to be holding up well despite a high base, with 6% YoY growth
Tractors appear steady as well
VISHAL MEGA MART Q2 FY27
Net Profit: βΉ158 Cr β4% YoY | β39% QoQ
Revenue: βΉ3,399 Cr β14% YoY | β9% QoQ
EBITDA: βΉ412 Cr β4% YoY | β24% QoQ
EBITDA Margin: 12.1% vs 13.2% YoY | 14.6% QoQ
Other Income: βΉ38 Cr vs βΉ20 Cr YoY | βΉ33 Cr QoQ
Net Profit: βΉ158 Cr β4% YoY | β39% QoQ
Revenue: βΉ3,399 Cr β14% YoY | β9% QoQ
EBITDA: βΉ412 Cr β4% YoY | β24% QoQ
EBITDA Margin: 12.1% vs 13.2% YoY | 14.6% QoQ
Other Income: βΉ38 Cr vs βΉ20 Cr YoY | βΉ33 Cr QoQ
Paras Healthcare IPO Subscription as of 12:30 Day 1
β’ QIB: 0.09x
β’ NII: 0.08x
β’ Retail: 0.02x
β’ Total Subscription: 0.09x
β’ Issue Size: βΉ1,450 Cr
β’ Price: βΉ693
β’ Closing Date: 23 October 2026
β’ QIB: 0.09x
β’ NII: 0.08x
β’ Retail: 0.02x
β’ Total Subscription: 0.09x
β’ Issue Size: βΉ1,450 Cr
β’ Price: βΉ693
β’ Closing Date: 23 October 2026
Jio Platforms IPO Subscription as of 12:30 Day 1
β’ QIB: 4.13x
β’ NII: 0.77x
β’ Retail: 0.51x
β’ Total Subscription: 1.45x
β’ Issue Size: βΉ30,213 Cr
β’ Price: βΉ1,119
β’ Closing Date: 23 October 2026
β’ QIB: 4.13x
β’ NII: 0.77x
β’ Retail: 0.51x
β’ Total Subscription: 1.45x
β’ Issue Size: βΉ30,213 Cr
β’ Price: βΉ1,119
β’ Closing Date: 23 October 2026
β€2
Vishal MegaMart β Weak Q2; Numbers BELOW estimates;
Miss On All Fronts
Revenue at Rs 3399 cr vs est of Rs 3492 cr
EBITDA at Rs 412 cr vs est of Rs 448 cr
EBITDA Margins at 12.1% vs est of 12.8%
Miss On All Fronts
Revenue at Rs 3399 cr vs est of Rs 3492 cr
EBITDA at Rs 412 cr vs est of Rs 448 cr
EBITDA Margins at 12.1% vs est of 12.8%
β€2
VISHAL MEGA MART Q2 FY27: LOYALTY CUSTOMERS UP 15%, QUICK COMMERCE USERS JUMP 41%
β’ LOYALTY CUSTOMERS: UP 15% YoY to 18.1 crore.
β’ LOYALTY REVENUE: Approximately 95% of revenue comes from registered loyalty customers.
β’ QUICK COMMERCE STORES: UP 12% YoY to 781 stores offering hyperlocal delivery.
β’ CITIES COVERED: UP 16% YoY to 532 cities.
β’ REGISTERED DIGITAL USERS: UP 41% YoY to approximately 1.52 crore.
β’ OMNICHANNEL EXPANSION: Offers express doorstep delivery, store pickup and online loyalty rewards.
β’ NEW BRAND LAUNCH: Opened the first pilot store of Belong & Co., targeting young, affluent urban consumers in the apparel segment.
β’ LOYALTY CUSTOMERS: UP 15% YoY to 18.1 crore.
β’ LOYALTY REVENUE: Approximately 95% of revenue comes from registered loyalty customers.
β’ QUICK COMMERCE STORES: UP 12% YoY to 781 stores offering hyperlocal delivery.
β’ CITIES COVERED: UP 16% YoY to 532 cities.
β’ REGISTERED DIGITAL USERS: UP 41% YoY to approximately 1.52 crore.
β’ OMNICHANNEL EXPANSION: Offers express doorstep delivery, store pickup and online loyalty rewards.
β’ NEW BRAND LAUNCH: Opened the first pilot store of Belong & Co., targeting young, affluent urban consumers in the apparel segment.
β€1
MAHINDRA HOLIDAYS Q2 FY27: MEMBERSHIP SALES UP 6%, RESORT REVENUE UP 15% YOY
β’ MEMBERSHIP SALES: UP 6% YoY to βΉ141 Cr.
β’ AVERAGE UNIT REALISATION: UP 43% YoY to βΉ13.4 lakh, including upgrades.
β’ MEMBERSHIP UPGRADES: UP 26% YoY to βΉ83 Cr.
β’ RESORT REVENUE: UP 15% YoY to βΉ96 Cr.
β’ OCCUPANCY: Improved 220 bps YoY to 75.6%.
β’ DEFERRED REVENUE: βΉ5,828 Cr as of September 30, 2026.
β’ CASH BALANCE: βΉ1,329 Cr.
β’ RESORT PORTFOLIO: 5,762 keys across 106 resorts.
β’ EXPANSION: 2 resorts expanded; 6 resorts exited based on guest feedback and ratings.
β’ RESORT TRANSFORMATION: 2 completed; 5 ongoing.
β’ MEMBERSHIP SALES: UP 6% YoY to βΉ141 Cr.
β’ AVERAGE UNIT REALISATION: UP 43% YoY to βΉ13.4 lakh, including upgrades.
β’ MEMBERSHIP UPGRADES: UP 26% YoY to βΉ83 Cr.
β’ RESORT REVENUE: UP 15% YoY to βΉ96 Cr.
β’ OCCUPANCY: Improved 220 bps YoY to 75.6%.
β’ DEFERRED REVENUE: βΉ5,828 Cr as of September 30, 2026.
β’ CASH BALANCE: βΉ1,329 Cr.
β’ RESORT PORTFOLIO: 5,762 keys across 106 resorts.
β’ EXPANSION: 2 resorts expanded; 6 resorts exited based on guest feedback and ratings.
β’ RESORT TRANSFORMATION: 2 completed; 5 ongoing.
β€1
PREMIER ENERGIES ON CHINA RESTRICTIONS ON SOLAR PV TECH , SAYS DONT SEE ANY MAJOR IMPACT IN SHORT - MEDIUM TERM
VARMORA GRANITO: EBITDA MARGIN IN FY27 WOULD BE 18%; TARGET 19% BY FY28
WENDT: Q2 CONS NET PROFIT 55M RUPEES VS 27M (YOY)
WENDT: Q2 EBITDA 106M RUPEES VS 67M (YOY); Q2 EBITDA MARGIN 14.6% VS 11.81% (YOY)
WENDT: Q2 REVENUE 725M RUPEES VS 566M (YOY)
WENDT: Q2 EBITDA 106M RUPEES VS 67M (YOY); Q2 EBITDA MARGIN 14.6% VS 11.81% (YOY)
WENDT: Q2 REVENUE 725M RUPEES VS 566M (YOY)
NURECA Q2 FY27
Net Profit: βΉ4.05 Cr β12% YoY | β32% QoQ
Revenue: βΉ58.53 Cr β55% YoY | β45% QoQ
EBITDA: βΉ5.23 Cr β60% YoY | β53% QoQ
EBITDA Margin: 8.9% vs 8.7% YoY | 8.5% QoQ
Net Profit: βΉ4.05 Cr β12% YoY | β32% QoQ
Revenue: βΉ58.53 Cr β55% YoY | β45% QoQ
EBITDA: βΉ5.23 Cr β60% YoY | β53% QoQ
EBITDA Margin: 8.9% vs 8.7% YoY | 8.5% QoQ
Infobeans Technologies Ltd β CLAUDE PARTNER NETWORK ACHIEVEMENT
Company achieves Select Partner tier in the Claude Partner Network Services Track:
- Achieved Select Partner tier in the Claude Partner Network Services Track by Anthropic
- 43% of company revenue as of March 2026 derived from AI-led software engineering services
- Claude practice focuses on building agentic enterprise solutions for US, Europe, Middle East, and India
- AI engineering products include Insane SDD 2.0, RAI (Reliability and Assurance Intelligence), and Expona 2.0
- Company holds ISO/IEC 42001 certification for its AI management system
Company achieves Select Partner tier in the Claude Partner Network Services Track:
- Achieved Select Partner tier in the Claude Partner Network Services Track by Anthropic
- 43% of company revenue as of March 2026 derived from AI-led software engineering services
- Claude practice focuses on building agentic enterprise solutions for US, Europe, Middle East, and India
- AI engineering products include Insane SDD 2.0, RAI (Reliability and Assurance Intelligence), and Expona 2.0
- Company holds ISO/IEC 42001 certification for its AI management system
ADANI GREEN Q2 FY27
Net Profit: βΉ747 Cr β16% YoY | β24% QoQ
Revenue: βΉ4,258 Cr β42% YoY | β4% QoQ
Other Income: βΉ262 Cr vs βΉ241 Cr YoY | βΉ232 Cr QoQ
Net Profit: βΉ747 Cr β16% YoY | β24% QoQ
Revenue: βΉ4,258 Cr β42% YoY | β4% QoQ
Other Income: βΉ262 Cr vs βΉ241 Cr YoY | βΉ232 Cr QoQ