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Bajaj Finance Ltd

Q2 FY26

Bajaj Finance Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹982

Market cap₹6.1L Cr

P/E29.9

Updated16 Oct 2026

Read4 min read

The short version

The company expects a prudent and balanced AUM growth of 22-23% for FY '26, revised from an earlier estimate of 24-25%, mainly due to risk actions in MSME and BHFL's revised AUM growth guidance. Management expects sustainable growth with a prudent, balanced AUM growth guidance of 22-23% for FY '26, slightly lower than earlier 24-25% forecast due to risk actions in MSME and revised BHFL AUM growth.

From Bajaj Finance Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

The company expects a prudent and balanced AUM growth of 22-23% for FY '26, revised from an earlier estimate of 24-25%, mainly due to risk actions in MSME and BHFL's revised AUM growth guidance.
Festive season disbursements saw a strong 26-27% year-on-year volume growth, adding millions of new customers, indicating robust demand momentum.
Gold loan business is anticipated to grow from around INR 12,000 crores currently to INR 27,000-30,000 crores by March '27, reflecting aggressive expansion plans.
Rural B2C business has improved to green status and is expected to contribute to faster growth.
Focus on technology and process automation (including FinAI) aims to sustain growth velocity while managing costs.

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Profitability & Margins

Management expects sustainable growth with a prudent, balanced AUM growth guidance of 22-23% for FY '26, slightly lower than earlier 24-25% forecast due to risk actions in MSME and revised BHFL AUM growth.
Fee and other income (NII + NTI) projected to grow around 13-15% in the current year, maintaining overall revenue momentum.
Credit cost guidance implies improvement for FY '27 with expected lower credit cost compared to FY '26, driven by better performance in MSME, captive 2-wheeler rundown, and growth in lower-risk segments like gold loans and new vehicle financing.
ROEs are in line with leading competitors, indicating profitability sustainability alongside scale expansion.

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Capital Expenditure Plans

The company is focused on "FinAI transformation," a significant strategic investment aimed at becoming a future-ready AI financial services company over the next 15-18 months.
This FinAI initiative involves 123 high-impact areas across business and functions, with 80 planned to go live by February 2026.
AI deployments already live include 442 AI voice bots contributing INR 2,000 crores in Q2, conversational/text bots for various products, and AI-based quality checks in loan applications.
The company invests in technology and process automation for scale and cost efficiency, with plans for expanding branch coverage by approximately 900 more branches by March 2027.

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Fundraising & Capital Structure

The provided excerpt from the Bajaj Finance Q2 FY '26 earnings call transcript does not explicitly mention any current or future plans for fundraising through debt or equity. Key points related to financial strategy include: - Focus on managing credit costs and maintaining steady profitability. - Emphasis on sustainable growth and risk management across business segments.

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Order Book & Pipeline

The transcript provided in the PDF does not explicitly mention any details regarding current or expected orderbook or pending orders for Bajaj Finance Limited. The discussion primarily focuses on: - Loan growth, risk management, and portfolio performance. - Market share in loans and customer wallet share (4% market share vs. 13% wallet share). - Business segments like gold loans, SME lending, rural B2C, and their outlook.

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What Bajaj Finance's management said in earlier quarters

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Frequently Asked Questions

What were Bajaj Finance Ltd Q2 FY26 results?

The company expects a prudent and balanced AUM growth of 22-23% for FY '26, revised from an earlier estimate of 24-25%, mainly due to risk actions in MSME and BHFL's revised AUM growth guidance. Management expects sustainable growth with a prudent, balanced AUM growth guidance of 22-23% for FY '26, slightly lower than earlier 24-25% forecast due to risk actions in MSME and revised BHFL AUM growth.

What is Bajaj Finance Ltd share price analysis?

Bajaj Finance Ltd currently shows a neutral. The stock trades at a P/E of 29.9 with a market cap of ₹611,451 Cr. Investors should review the full earnings analysis for detailed insights.

Is Bajaj Finance Ltd planning capital expenditure?

The company is focused on "FinAI transformation," a significant strategic investment aimed at becoming a future-ready AI financial services company over the next 15-18 months.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.