Shares of Bajaj Finance Ltd. crashed a day after India’s largest non-banking financial company declared its second-quarter results.
On Tuesday (11 November 2025), Bajaj Finance’s share price fell as much as 7.4% to ₹1,005.05 even as the benchmark S&P BSE Sensex declined 0.29% to 83,296.53 points. That was despite financials showing a healthy growth in July-September 2025.
Bajaj Finance Q2 Results (Consolidated, YoY)
- NII up 22% at ₹10,785 crore
- New loans up 26% at 1.217 crore
- AUMs up 24% at ₹4,62,261 crore
- Net profit up 21.9% at ₹4,875 crore
During the quarter, Bajaj Finance’s asset quality worsened—while the Net NPA ratio grew 10 basis points sequentially to 0.60%, the Gross NPA ratio widened 21 bps QoQ to 1.24%. The capital adequacy ratio stood at 21.33% in Q2 FY26 versus 21.96% in Q1 FY26.
Still, that’s no reason for such a steep decline in share price. It’s to do with the company’s outlook on a key financial metric—assets under management.
Bajaj Finance AUM guidance
The company has revised lower its AUM guidance to 22-23% from 24-25% for FY26, after growth moderated to 24% in Q2 FY26 due to growing stress in the MSME and mortgage loans. The net interest margin is also seen flat hereon as cost benefits will be passed on to customers.
What is AUM for an NBFC?
The value of all the loans and advances issued by an NBFC is reflected as “assets under management” on its balance sheet.
