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BAJAJ FINANCE LTD.

NSE : BAJFINANCEBSE : 500034ISIN CODE : INE296A01024Industry : Finance - NBFCHouse : Bajaj
BSE4146.90-5.7 (-0.14 %)
PREV CLOSE ( ) 4152.60
OPEN PRICE ( ) 4153.00
BID PRICE (QTY) 4146.35 (11)
OFFER PRICE (QTY) 4147.70 (1)
VOLUME 16371
TODAY'S LOW / HIGH ( )4140.55 4182.00
52 WK LOW / HIGH ( )2330 4277.5
NSE4145.30-9.6 (-0.23 %)
PREV CLOSE( ) 4154.90
OPEN PRICE ( ) 4165.00
BID PRICE (QTY) 4145.00 (73)
OFFER PRICE (QTY) 4145.30 (8)
VOLUME 502060
TODAY'S LOW / HIGH( ) 4140.10 4182.15
52 WK LOW / HIGH ( )2332.1 4280
AnalystEmailIdaayushi.goyal@narnolia.com
AnalystNameAayushi Goyal
BSECode500034
CP1DesignationMD
CP1NameMr. Rajeev Jain
CP2DesignationCFO
CP2NameMr. Sandeep Jain
CP3DesignationCEO BHF
CP3NameMr. Atul Jain
CallDate22 Oct 2019
DescriptionCost of funds is expected to go down going ahead. Fee and commissions grew by 60% YoY, mainly came from credit card fees, penal fees and others like convenience fee etc. 20-22% ROE guidance for medium term. Credit cost is expected to be at 170-175 bps for FY20. Reduction is expected from 1QFY21. 150-155 bps is the normal range expected. Management continues to be conservative on growth front given the current environment. The growth metrix remain volatile MoM and is expected to get some clarity towards the end of the year. The company is expecting to add around 200 locations in 2HFY20. Other receivables increased drastically in 2QFY20, the reason being sale of a mutual fund in 2QFY20. 70% of the loans were to existing customers. The Company expects 70-74% loans to come from existing customers in the long term. During the quarter, the Company entered into facility agreement with various banks to avail ECB loans of USD 575 million in one or more tranches. First tranche of USD 276 million (equivalent to Rs 1,959 Cr) was drawn on 17 October 2019. Fully hedged cost stood at 7.95%, interest payable on maturity. Deposits- 15% of the book is now retail and corporate deposits. Rs 11k Cr of this is retail and Rs 6.5k Cr is wholesale. Write offs stood at Rs 293 Cr as against Rs 196 Cr, most of them from consumer portfolio. All the sale given during festive seasons is totally born by either company or retailer. The company works with 10k agencies in 2000 towns of the country for collection. 20% of the agencies would be in Top 10 cities. Other than one portfolio account, the commercial lending portfolio is fine.
SubjectQ2FY20 EARNING CONFERENCE CALL

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