RBI restrictions on eCOM and Insta EMI Card not yet lifted
The embargo on two products continues to impact loan bookings and AUM growth; timing of removal is uncertain.
high · management_commentaryBajaj Finance Ltd — Q4 FY24
Bajaj Finance reported a solid Q4 FY24 with AUM growth of 34% to INR 3,30,600 crore and PAT of INR 3,825.8 crore, up 21% YoY.
neutral
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Rural B2C credit stress persists
Rural B2C business continues to show elevated loan losses, leading to slower growth; management has slowed AUM growth to 6% but risk remains.
medium · management_commentaryIntense competition in mortgage space pressuring BHFL margins
Management noted 'madness' in mortgage competition, with home loans being distributed at 8.4-8.5% against borrowing costs of 8.3%, squeezing NIMs.
medium · analyst_questionPotential ROE drag from excess capital
Management acknowledged that ROE in FY25 may marginally decline due to the recent capital raise, as excess capital sits on the balance sheet.
low · management_commentary