Any current/future new fundraising through debt or equity?

Baid Finserv is actively discussing adding new banking partners for co-lending and borrowing lines, including Union Bank, Bank of Baroda, and HDFC Bank. These additions aim to reduce dependency on higher-cost NBFC borrowings and bring down the cost of funds by 10-15 basis points in the current financial year. There is no current plan for a Qualified Institutional Placement (QIP) or new equity fundraising; promoters currently hold 34.98%. The company is exploring partnerships and capital infusion via banks but no explicit new equity fundraising or QIP is planned as of now. Capital expenditure p

Any current/future capex/capital investment/strategic investment?

Current and future capex focuses mainly on IT infrastructure, including a new Loan Origination System (LOS), Loan Management System (LMS), mobile app, and complete MIS software. Estimated IT-related capital expenditure: INR 20-25 lakhs for FY 2025 and a similar amount for FY 2026. Low capital expenditure on branch infrastructure, approximately INR 2-2.5 lakhs per branch, with plans to open around 50 branches in the next couple of years (totaling INR 1-1.5 crores). Branch investments are recovered within 3-5 months through business volume. No current plans for QIP; promoter stake curren

Future growth expectations in sales/revenue/volumes?

Revenue target for FY25 is INR 75-78 crores with a 25% growth expectation. Vehicle loan AUM expected to reach INR 110-120 crores by March 2025 (current around INR 80 crores). MSME loan (Loan Against Property) AUM faces pressure due to high pre-closures but planned growth through new teams and geographical expansion. New states (Gujarat, Madhya Pradesh, Maharashtra) expected to contribute around INR 100 crores AUM in FY25 and another INR 100 crores in FY26. Total AUM target: close to INR 500 crores by FY25 and over INR 600 crores by FY26. Expansion plan: 75 branches by FY25 end and 10

Future growth expectations in earnings/operating earnings/profits/EPS?

Revenue target for FY25 is INR75-78 crores, aiming for 25% growth. Expect Q2 and Q3 to have better revenue and collections due to seasonality and festive demand. Annual AUM growth targeted at 25%-30%, aiming for INR500 crores by FY25 and INR600 crores+ by FY26. Vehicle loans expected to reach INR110-120 crores AUM by March 2025 (up from INR80 crores). INR100 crores AUM expected from new states (Gujarat, Madhya Pradesh, Maharashtra) by FY25, with incremental INR100 crores in FY26. Operating profit dip in Q1 partly due to absence of bad debt recoveries seen in previous year. Profitability expect

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Baid Finserv LtdQ2 FY24Finance

Baid Finserv Ltd Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹9.78P/E: 10.4Market Cap: ₹176 CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

→Revenue target for FY25 is INR 75-78 crores with a 25% growth expectation.
→Vehicle loan AUM expected to reach INR 110-120 crores by March 2025 (current around INR 80 crores).
→MSME loan (Loan Against Property) AUM faces pressure due to high pre-closures but planned growth through new teams and geographical expansion.
→New states (Gujarat, Madhya Pradesh, Maharashtra) expected to contribute around INR 100 crores AUM in FY25 and another INR 100 crores in FY26.
→Total AUM target: close to INR 500 crores by FY25 and over INR 600 crores by FY26.
→Expansion plan: 75 branches by FY25 end and 100 branches by FY26 end.
→Growth in electric vehicle loans with INR 15 crores incremental AUM targeted in FY25.
→Expect higher disbursements and collection in Q2 and Q3 of FY25 supported by festive demand and better rural sector cash flows.

Margin guidance

Category 3

→Revenue target for FY25 is INR75-78 crores, aiming for 25% growth.
→Expect Q2 and Q3 to have better revenue and collections due to seasonality and festive demand.
→Annual AUM growth targeted at 25%-30%, aiming for INR500 crores by FY25 and INR600 crores+ by FY26.
→Vehicle loans expected to reach INR110-120 crores AUM by March 2025 (up from INR80 crores).
→INR100 crores AUM expected from new states (Gujarat, Madhya Pradesh, Maharashtra) by FY25, with incremental INR100 crores in FY26.
→Operating profit dip in Q1 partly due to absence of bad debt recoveries seen in previous year.
→Profitability expected to improve with better cost management and digital initiatives reducing acquisition costs.
→Net NPA low at 0.37%, with high provision coverage supporting stable earnings.
→EPS expected to improve with branch expansion and enhanced product mix including EV loans.

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Fundraise plans

→Baid Finserv is actively discussing adding new banking partners for co-lending and borrowing lines, including Union Bank, Bank of Baroda, and HDFC Bank.
→These additions aim to reduce dependency on higher-cost NBFC borrowings and bring down the cost of funds by 10-15 basis points in the current financial year.
→There is no current plan for a Qualified Institutional Placement (QIP) or new equity fundraising; promoters currently hold 34.98%.
→The company is exploring partnerships and capital infusion via banks but no explicit new equity fundraising or QIP is planned as of now.
→Capital expenditure plans mainly involve IT infrastructure upgrades (INR 20-25 lakhs per year) rather than equity/debt fundraising.
→Overall, fundraising focus is on low-cost debt via banks rather than equity at present.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Baid Finserv Limited. However, some relevant points inferred from management commentary include: - The company aims for a 25% to 30% annual increase in Assets Under Management (AUM). - Targeting close to INR 500 crores AUM by FY 2025 and INR 600 crores by FY 2026. - Expansion plans include growing to 75 branches by end of FY 2025 and 100 branches by FY 2026. - Focus on increased disbursement volume particularly in Q2 and Q3 due to seasonal upticks. - The vehicle loan book is growing steadily, including financing for electric vehicles. - Management remains confident about achieving revenue targets despite competition and challenges. No direct figures or detailed order book metrics are discussed in the transcript.

Capex plans

Yes

→Current and future capex focuses mainly on IT infrastructure, including a new Loan Origination System (LOS), Loan Management System (LMS), mobile app, and complete MIS software.
→Estimated IT-related capital expenditure: INR 20-25 lakhs for FY 2025 and a similar amount for FY 2026.
→Low capital expenditure on branch infrastructure, approximately INR 2-2.5 lakhs per branch, with plans to open around 50 branches in the next couple of years (totaling INR 1-1.5 crores).
→Branch investments are recovered within 3-5 months through business volume.
→No current plans for QIP; promoter stake currently at 34.98%.
→Solar loan product under consideration for next year but no current investment in solar loans; EV financing (especially three-wheelers) is an active new product line with targeted AUM addition of around INR 15 crores.

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