Bajaj Finance shares dropped by nearly 6.5% in early trading on Tuesday after the company reduced its growth forecast for FY26. This decline came even though the company’s July–September quarter (Q2 FY26) results were largely in line with market expectations. The stock fell to around ₹1,015 during morning trade, while Bajaj Finserv, its associate company, also slipped 6.5% to ₹1,981 ahead of its own results announcement.
Q2 Results Show Strong Profit Growth
On Monday, Bajaj Finance reported a 22% year-on-year rise in its consolidated net profit, reaching ₹4,875 crore for the July–September quarter. The company’s net interest income also grew 22% to ₹10,785 crore, and its assets under management (AUM) increased by 24% year-on-year to ₹4.62 lakh crore.
The lender added 4.1 million new customers during the quarter, taking its total customer base to 110.6 million. However, the company’s asset quality weakened slightly. Gross non-performing assets (NPAs) rose to 1.24% from 1.03% in the previous quarter, while net NPAs stood at 0.6%.
Growth Guidance Trimmed for FY26
Despite the strong financial performance, Bajaj Finance reduced its AUM growth guidance for FY26 to 22–23%, down from earlier estimates. The company attributed this revision to softer trends in the small and medium enterprises (SME) and housing segments. This cautious outlook led to investor concerns, resulting in a sharp fall in the stock price.
Brokerages Stay Positive Despite Concerns
Analysts said that while the near-term volatility is likely to continue, Bajaj Finance’s fundamentals remain strong. Most brokerages maintained their positive outlook on the stock, citing consistent profit growth, strong customer additions, and a healthy loan portfolio.
However, a few analysts advised caution, highlighting the rise in NPAs and the trimmed growth target as potential risks. Overall, experts believe Bajaj Finance’s long-term prospects remain bright due to its diversified business model and solid market position in India’s non-banking finance sector.
