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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
183 announcements match the current filters (relevance ≥ 5).
Bajaj Finance Raises Rs. 2,500.20 Crore via Private Placement of Secured NCDs
Bajaj Finance has successfully allotted 2,50,000 Secured Redeemable Non-Convertible Debentures (NCDs) to raise Rs. 2,500.20 crore. The fundraise is split into two options: Rs. 1,000.01 crore at a 7.40% coupon and Rs. 1,500.19 crore at a 7.55% coupon. These instruments have tenures of approximately 3 years and 5 years respectively. The capital raised will likely support the company's lending operations and strengthen its balance sheet.
Key Highlights
Total allotment of 2,50,000 NCDs with a face value of Rs. 1 Lakh each aggregating to Rs. 2,500.20 crore.
Option I: Rs. 1,000.01 crore raised at 7.40% p.a. with a tenure of 1,116 days maturing in March 2029.
Option II: Rs. 1,500.19 crore raised at 7.55% p.a. with a tenure of 1,826 days maturing in February 2031.
The debentures are secured by a first pari-passu charge on book debts and loan receivables with at least 1.0x cover.
The securities are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.
👀 What to Watch
Investors should view this as a positive development as it secures long-term funding at competitive rates for the NBFC. No immediate action is required, but this supports the company's growth trajectory in the lending space.
Modi Naturals Q3 PAT Jumps 28.5% YoY; FY26 Revenue Guidance Revised Downward
Modi Naturals reported a strong 28.5% YoY growth in Q3FY26 PAT to ₹10.0 crore, despite a 2.8% dip in consolidated revenue to ₹174.1 crore. For the 9MFY26 period, PAT rose 33.9% to ₹30.6 crore, driven by improved operating leverage and lower finance costs from debt repayment. However, the company has lowered its FY26 revenue guidance to ₹720-730 crore from ₹850-880 crore due to delays in commissioning its 180 KLPD ethanol expansion. The ethanol division remains the primary growth catalyst, with total capacity set to reach 310 KLPD by the end of February 2026.
Key Highlights
Q3FY26 PAT increased by 28.5% YoY to ₹10.0 crore, while EBITDA grew 20.7% to ₹16.0 crore.
9MFY26 EBITDA margins expanded to 10.3% from 8.4% YoY, aided by softer raw material costs and lower finance charges.
Ethanol capacity expansion of 180 KLPD is scheduled for commissioning by late February 2026, taking total capacity to 310 KLPD.
FY26 revenue guidance slashed to ₹720-730 crore (previously ₹850-880 crore) due to ethanol project delays.
Consumer division revenue stood at ₹46.3 crore in Q3, showing resilience despite GST-related billing disruptions in October 2025.
👀 What to Watch
Investors should monitor the successful commissioning and ramp-up of the 180 KLPD ethanol facility in Q4, as this is critical for meeting revised targets. While the guidance cut is a short-term negative, the improving margin profile and debt reduction are positive indicators for long-term stability.
Modi Naturals Q3 Net Profit Rises 28% YoY to ₹10.04 Cr Despite Marginal Revenue Dip
Modi Naturals reported a consolidated net profit of ₹10.04 crore for the quarter ended December 31, 2025, representing a 28.5% growth compared to ₹7.82 crore in the previous year. While revenue from operations saw a slight decline of 2.7% YoY to ₹174.09 crore, the company significantly improved its bottom line through reduced finance costs and strong subsidiary performance. For the nine-month period, PAT surged by 33.9% to ₹30.61 crore. The subsidiary, Modi Biotech Private Limited, played a crucial role, contributing ₹81.19 crore to the quarterly revenue and ₹8.92 crore to the profit.
Key Highlights
Consolidated Net Profit increased to ₹10.04 crore in Q3 FY26 from ₹7.82 crore in Q3 FY25.
Revenue from operations stood at ₹174.09 crore, down slightly from ₹179.02 crore YoY.
Finance costs decreased significantly to ₹1.82 crore from ₹3.14 crore in the year-ago quarter.
Subsidiary Modi Biotech Private Limited contributed ₹81.19 crore in revenue and ₹8.92 crore in PAT for the quarter.
Nine-month PAT grew to ₹30.61 crore compared to ₹22.86 crore in the corresponding period last year.
👀 What to Watch
Investors should note the strong profitability growth driven by the biotech subsidiary and efficient cost management. The reduction in finance costs suggests improving financial health, making it a stock to watch for further margin expansion.
Modi Naturals Q3 FY26 Consolidated PAT Rises 28.5% YoY to ₹10.04 Cr; Revenue at ₹174.09 Cr
Modi Naturals reported a strong bottom-line performance for the quarter ended December 31, 2025, with consolidated Net Profit rising to ₹10.04 crore from ₹7.82 crore in the same period last year. While revenue from operations saw a marginal decline to ₹174.09 crore compared to ₹179.02 crore YoY, the company's profitability improved significantly. The nine-month performance also showed robust growth, with PAT reaching ₹30.61 crore against ₹22.86 crore in the previous year. The subsidiary, Modi Biotech, played a crucial role, contributing nearly 47% of the group's quarterly revenue.
Key Highlights
Consolidated Net Profit for Q3 FY26 increased by 28.5% YoY to ₹1,004.43 lakhs.
Revenue from operations for the quarter stood at ₹17,409.31 lakhs, slightly down from ₹17,901.68 lakhs in Q3 FY25.
Nine-month (9M FY26) PAT grew by 33.9% to ₹3,061.00 lakhs compared to ₹2,286.49 lakhs in 9M FY25.
Subsidiary Modi Biotech Private Limited contributed ₹8,118.71 lakhs in revenue and ₹892.05 lakhs in PAT during the quarter.
Earnings Per Share (EPS) for the quarter improved to ₹7.55 from ₹5.88 in the corresponding previous year quarter.
👀 What to Watch
Investors should focus on the company's improving margins and the strong contribution from its biotech subsidiary which is driving profitability. The stock may see positive momentum due to the significant jump in net profit despite stagnant revenue growth.
CSL Finance Q3FY26: AUM Grows 27% YoY to ₹1,460 Cr; PAT Rises 25% YoY to ₹20.9 Cr
CSL Finance reported a strong 27% YoY growth in AUM to ₹1,460 crore for Q3FY26, driven primarily by the wholesale segment. While PAT grew 25% YoY to ₹20.9 crore, it saw a 14% sequential decline due to higher impairments and revised RBI provisioning norms. Asset quality showed some stress with Gross NPA rising to 1.00% from 0.51% in the previous quarter. The company maintains a healthy liquidity position with ₹135.2 crore in cash and equivalents and a comfortable leverage ratio of 1.50x.
Key Highlights
AUM increased 27% YoY to ₹1,460 crore, with the Wholesale segment now comprising 69% of the mix.
Net Interest Income (NII) grew 18% YoY to ₹41.4 crore, though PAT fell 14% QoQ to ₹20.9 crore.
Gross NPA rose to 1.00% from 0.38% YoY, impacted by revised RBI provisioning on project finance and slower SME resolutions.
Disbursements rose 27% YoY to ₹357 crore, supported by the onboarding of two new lenders, SBM Bank and Punjab & Sind Bank.
The company maintains a target AUM of ₹1,500–1,600 crore for FY26 with a collection efficiency of 98%.
👀 What to Watch
Investors should monitor the rising NPA levels and the slowdown in the higher-margin SME Retail segment. While wholesale growth is robust, the sequential decline in PAT and increased provisioning requirements warrant a cautious approach until asset quality stabilizes.
VLS Finance Q3 Results: Net Profit Swings to ₹14.79 Cr; Record Date Set for Postal Ballot
VLS Finance reported a significant turnaround in Q3 FY26, posting a standalone net profit of ₹14.79 crore compared to a net loss of ₹54.28 crore in the same quarter last year. This recovery was primarily driven by a net gain on fair value changes of ₹20.61 crore, reversing a massive loss in the previous year's corresponding period. On a consolidated basis, the company achieved a net profit of ₹21.26 crore for the quarter. Additionally, the Board has fixed February 27, 2026, as the record date for a postal ballot to approve restructuring the Executive Director's remuneration.
Key Highlights
Standalone Net Profit of ₹14.79 crore in Q3 FY26 vs a loss of ₹54.28 crore in Q3 FY25
Consolidated Net Profit for the quarter stood at ₹21.26 crore with an EPS of ₹6.23
Net gain on fair value changes contributed ₹20.61 crore to standalone income during the quarter
Standalone nine-month profit for FY26 remains robust at ₹80.81 crore
Record date for voting on Executive Director remuneration restructuring set for February 27, 2026
👀 What to Watch
The sharp turnaround in profitability is a positive signal, though it is largely driven by fair value gains on investments which can be volatile. Investors should monitor the company's investment portfolio performance and participate in the upcoming postal ballot regarding management remuneration.
CSL Finance Q3 PAT Rises 24.7% YoY to ₹20.92 Cr; Appoints New Internal Auditor
CSL Finance reported a strong performance for Q3 FY26, with total revenue from operations growing 20% YoY to ₹64.16 crore. Net profit for the quarter increased by 24.7% YoY to ₹20.92 crore, despite the implementation of stricter RBI provisioning norms for project finance. The company also restructured its internal audit function, appointing Mr. Ayuush Mittaal as Internal Auditor to align with RBI guidelines. For the nine-month period ending December 2025, the company has achieved a net profit of ₹66.69 crore, up from ₹53.12 crore in the previous year.
Key Highlights
Total Income for Q3 FY26 rose to ₹64.44 crore compared to ₹53.70 crore in Q3 FY25.
Net Profit (PAT) for the quarter stood at ₹20.92 crore, a significant jump from ₹16.77 crore YoY.
Implemented revised RBI project finance provisioning norms effective Oct 1, 2025, resulting in additional impairment charges.
Internal Auditor M/s. R. Mahajan & Associates stepped down to a consultancy role; Mr. Ayuush Mittaal appointed as new Internal Auditor.
Basic EPS for the nine-month period improved to ₹29.70 from ₹23.65 in the corresponding previous period.
👀 What to Watch
Investors should view the consistent double-digit profit growth positively, especially as the company has already absorbed the impact of tighter RBI provisioning norms. Monitor the impact of the internal audit restructuring on corporate governance and asset quality in the project finance portfolio.
CSL Finance Q3 FY26 PAT Rises 24.7% YoY to ₹20.92 Cr; Revenue Up 20%
CSL Finance reported a steady performance for the quarter ended December 31, 2025, with Profit After Tax (PAT) growing 24.7% year-on-year to ₹20.92 crore. Total revenue from operations increased by 20.2% to ₹64.16 crore, driven primarily by interest income. The company noted an increase in impairment provisions due to new RBI guidelines on project finance exposures effective from October 2025. Additionally, the board approved the appointment of Mr. Ayuush Mittaal as the new Internal Auditor to align with RBI's internal audit framework.
Key Highlights
Net Profit for Q3 FY26 stood at ₹20.92 crore, a 24.7% increase from ₹16.77 crore in the same quarter last year.
Total Revenue from operations grew to ₹64.16 crore compared to ₹53.39 crore in Q3 FY25.
9-month PAT for FY26 reached ₹66.69 crore, up 25.5% from ₹53.12 crore in the previous year.
Impairment on financial instruments for Q3 FY26 was ₹3.77 crore, reflecting higher provisioning for project finance as per revised RBI norms.
The company transferred loans worth ₹56.62 crore through assignment during the nine-month period ended December 2025.
👀 What to Watch
The company shows consistent growth in its core lending business with healthy profit margins. Investors should monitor the impact of the new RBI provisioning norms on future profitability and the asset quality of the project finance portfolio.
VLS Finance Q3 Results: Returns to Profitability with Consolidated PAT of ₹18.05 Crore
VLS Finance Limited reported a significant turnaround in Q3 FY26, posting a consolidated net profit of ₹18.05 crore compared to a net loss of ₹50.99 crore in the same quarter last year. Total consolidated income surged to ₹31.68 crore, driven primarily by a net gain on fair value changes of ₹25.33 crore. On a standalone basis, the company also returned to profitability with a PAT of ₹14.79 crore. Additionally, the board has initiated a postal ballot to restructure the Executive Director's remuneration, setting February 27, 2026, as the record date for voting eligibility.
Key Highlights
Consolidated Net Profit turned positive at ₹18.05 crore versus a loss of ₹50.99 crore in the year-ago period.
Total Consolidated Income reached ₹31.68 crore, recovering from a negative ₹55.91 crore in Q3 FY24.
Standalone EPS improved significantly to ₹4.33 from a negative ₹15.79 YoY.
Net gain on fair value changes contributed ₹25.33 crore to the consolidated revenue for the quarter.
Board approved a postal ballot for restructuring Executive Director remuneration with a record date of February 27, 2026.
👀 What to Watch
The company has demonstrated a strong recovery in bottom-line performance driven by investment gains; however, investors should remain cautious of the volatility inherent in fair value accounting. Monitor the upcoming postal ballot results regarding management remuneration as it reflects on corporate governance.
CSL Finance Q3 PAT Grows 25% YoY to ₹20.9 Cr; Sequential Profit Dips on Higher RBI Provisions
CSL Finance reported a robust year-on-year performance for Q3 FY26, with Net Profit (PAT) rising 24.7% to ₹20.92 crore compared to ₹16.77 crore in the same quarter last year. Total revenue from operations grew by 20.2% YoY to reach ₹64.16 crore. However, on a sequential basis, PAT declined by 14.5% from ₹24.46 crore in Q2 FY26, primarily due to a significant increase in impairment provisions. The company implemented revised RBI provisioning norms for project finance exposures effective October 1, 2025, which led to an additional impairment charge during the quarter.
Key Highlights
Net Profit (PAT) for Q3 FY26 stood at ₹20.92 crore, up 24.7% YoY but down 14.5% QoQ.
Total Revenue from operations increased to ₹64.16 crore, a 20.2% growth over Q3 FY25.
Impairment on financial instruments rose to ₹3.77 crore from ₹1.84 crore in the previous quarter due to new RBI guidelines.
Nine-month (9M FY26) Net Profit reached ₹66.69 crore, marking a 25.6% growth over the previous year's 9M period.
The company appointed Mr. Ayuush Mittaal as Internal Auditor to align with the revised RBI Internal Audit Framework.
👀 What to Watch
Investors should note that while YoY growth remains strong, the sequential dip in profitability is a result of tighter regulatory provisioning rather than operational weakness. Monitor the stabilization of these impairment charges in upcoming quarters to assess long-term margin impact.
Coral India Finance Q3 FY26 Net Profit Rises 8.4% YoY to ₹3.53 Crore
Coral India Finance & Housing Limited reported a steady Q3 FY26 with a Net Profit of ₹3.53 crore, up from ₹3.26 crore in the same period last year. Revenue from operations grew to ₹3.93 crore, driven primarily by its investment segment which contributed ₹4.42 crore to total revenue. While operational profitability remains healthy with an EPS of ₹0.88, the company faced a significant hit in Total Comprehensive Income due to a ₹10.81 crore loss in the fair value of equity instruments. The construction segment remains a smaller contributor compared to the investment arm.
Key Highlights
Net Profit for Q3 FY26 stood at ₹353.00 Lakhs vs ₹325.65 Lakhs in Q3 FY25.
Revenue from operations increased to ₹392.54 Lakhs from ₹361.35 Lakhs year-on-year.
Earnings Per Share (EPS) improved to ₹0.88 for the quarter, up from ₹0.81 in the previous year's quarter.
Investment segment revenue was ₹441.92 Lakhs, significantly outperforming the construction segment's ₹112.70 Lakhs.
Total Comprehensive Income reported a loss of ₹727.91 Lakhs due to market-linked valuation drops in equity holdings.
👀 What to Watch
Investors should monitor the core operational growth in the housing and finance segments, but remain cautious about the high volatility in the company's investment portfolio which is impacting total comprehensive income.
Bajaj Finance Raises Rs 500 Crore via Secured NCDs at 7.31% Coupon
Bajaj Finance has successfully allotted 50,000 secured redeemable non-convertible debentures (NCDs) on a private placement basis to raise Rs 500 crore. The NCDs carry a fixed coupon rate of 7.31% per annum with a tenure of 729 days, maturing on February 11, 2028. This fundraise is part of the company's regular debt capital management to support its ongoing lending business. The issue is secured by a first pari-passu charge on the company's loan receivables with a minimum cover of 1.00 time.
Key Highlights
Total fundraise of Rs 500 crore through the allotment of 50,000 NCDs
Fixed coupon rate of 7.31% p.a. with annual interest payment frequency
Tenure of 729 days with maturity scheduled for February 11, 2028
Secured by first pari-passu charge on book debts and loan receivables
NCDs to be listed on the Wholesale Debt Market Segment of BSE Limited
👀 What to Watch
This is a routine fundraise for a large NBFC like Bajaj Finance and indicates stable access to debt markets at competitive rates. Investors should continue to monitor the company's overall cost of borrowing and net interest margins in future earnings reports.
JM Financial Q3 FY26: Operating PAT Up 17% to ₹244 Cr; IPO Pipeline Hits ₹1.2 Lakh Cr
JM Financial reported a strong Q3 FY26 with consolidated PAT reaching ₹313 crores, though this included a ₹113 crore one-time interest on tax refunds. Core operating PAT grew 17% YoY to ₹244 crores, while the 9-month PAT crossed the ₹1,000 crore milestone. The company is seeing unprecedented momentum in its investment banking arm with a massive IPO pipeline of ₹1.21 lakh crore. While Wealth Management margins were pressured by aggressive hiring and branch expansion, the Affordable Housing segment maintained steady growth with AUM rising 23% YoY to ₹3,200 crores.
Key Highlights
Consolidated 9M FY26 PAT crossed ₹1,000 crores; Q3 operating PAT stood at ₹244 crores (+17% YoY).
Investment banking pipeline remains robust with 54 IPOs filed totaling approximately ₹1,21,000 crores.
Wealth Management recurring AUM grew 33% YoY to ₹33,100 crores, despite segment profit being impacted by a 41% increase in sales headcount.
Affordable Housing Loans AUM reached ₹3,200 crores (+23% YoY) with a customer base exceeding 30,000.
Consolidated net worth stands at ₹10,418 crores with a book value per share of approximately ₹109.
👀 What to Watch
Investors should view the current margin compression in the Wealth segment as a strategic investment for future scale. The massive deal pipeline in investment banking provides high visibility for fee-based income over the next 12-18 months.
TCI Finance Reports Q3 Net Loss of ₹109.31 Lakhs; Faces RBI Registration Risks
TCI Finance reported a standalone net loss of ₹109.31 Lakhs for the quarter ended December 31, 2025, a significant increase from the ₹23.11 Lakhs loss in the previous year's corresponding quarter. The company is currently embroiled in a legal battle with the RBI regarding the surrender of its NBFC Certificate of Registration due to inadequate Net Owned Funds. Management has explicitly flagged uncertainties regarding the company's status as a 'going concern' due to massive exposure to defaults and invoked corporate guarantees. Total revenue for the quarter was negligible at just ₹0.03 Lakhs, reflecting a near-total halt in core operations.
Key Highlights
Net loss widened to ₹109.31 Lakhs in Q3 FY26 compared to a loss of ₹23.11 Lakhs in Q3 FY25.
The company faces contingent liabilities of ₹25,619.80 Lakhs from corporate guarantees given to Amrit Jal Ventures.
RBI has directed the company to surrender its NBFC registration; the matter is currently under interim stay by the Telangana High Court.
Statutory auditors have issued a modified opinion citing significant financial and legal uncertainties.
Management admitted to 'going concern' doubts as adverse developments in investee entities affect future income.
👀 What to Watch
Investors should exercise extreme caution as the company faces potential deregistration by the RBI and has massive unprovided liabilities. The 'going concern' warning and negligible revenue suggest a high risk of insolvency or total capital loss.
Bajaj Finance Q3 FY26: Core PAT up 23% YoY; Voluntary Provisioning of ₹1,406 Cr Strengthens Books
Bajaj Finance reported a robust core performance for Q3 FY26, with core AUM growing 22% YoY and the customer franchise expanding to 115 million. The company proactively took a one-time accelerated ECL provision of ₹1,406 crore to implement LGD floors, significantly raising Stage 1 PCR to 98 bps for long-term resilience. While reported PAT was impacted by these provisions and a ₹265 crore labor code charge, it was partially offset by a ₹1,416 crore gain from selling a 2% stake in BHFL. Asset quality remains a highlight with Net NPA at 0.47% and steady NIMs.
Key Highlights
Core AUM grew by 22% YoY (₹23,622 crore) with total customer franchise reaching 115 million.
Proactive one-time accelerated ECL provision of ₹1,406 crore increased Stage 1 PCR from 74 bps to 98 bps.
Core PAT grew 23% YoY, supported by steady NIMs and a sequential 7 bps improvement in cost of funds to 7.45%.
Asset quality remains strong with GNPA at 1.21% and NNPA at 0.47%, while Stage 2 and 3 assets saw a net decrease of ₹93 crore.
Management guided for full-year AUM growth of 22-23% despite a temporary slowdown in the MSME segment.
👀 What to Watch
Investors should view the one-time provisioning as a strategic move to 'bulletproof' the balance sheet rather than a sign of credit stress. The core 23% profit growth and expanding customer base suggest the long-term growth story remains intact.
JM Financial Q3FY26 PAT Jumps 50% YoY to Rs 313 Cr; Operating PAT Up 17%
JM Financial reported a robust Q3FY26 with consolidated PAT rising 49.7% YoY to Rs 313 crore, aided by a one-time interest refund on income tax. Core performance remained steady as Operating PAT grew 16.6% YoY to Rs 244 crore. The company maintains a strong capital position with a net worth of Rs 10,418 crore and a low debt-to-equity ratio of 1.0x. While the Wealth Management segment saw margin pressure due to aggressive hiring and expansion, the Investment Banking arm continues to lead the market with a massive IPO pipeline of ~Rs 1.21 lakh crore.
Key Highlights
Consolidated Net Profit for Q3FY26 increased by 49.7% YoY to Rs 313 crore, while 9M FY26 PAT rose 69.4% to Rs 1,037 crore.
Wealth Management recurring AUM grew 33% YoY to Rs 33,144 crore, supported by a 41% increase in Relationship Manager headcount.
Investment Banking division maintained leadership, closing 37 equity capital market transactions worth ~Rs 87,000 crore in CY25.
Affordable Home Loans AUM reached Rs 3,183 crore, up 23% YoY, with a granular average ticket size of ~Rs 10 lakhs.
Operating Return on Equity (ROE) improved significantly to 12.7% in Q3FY26 compared to 9.4% in the previous year.
👀 What to Watch
Investors should monitor the scaling of the Wealth Management and Affordable Housing segments, which are currently in an investment phase. The strong IPO pipeline and healthy balance sheet suggest continued momentum in the core advisory business.
JM Financial Q3FY26 PAT Jumps 50% YoY to ₹313 Cr; Operating ROE Improves to 12.7%
JM Financial reported a strong consolidated net profit of ₹313 crore for Q3FY26, marking a 49.7% YoY growth, supported by a one-time interest refund on income tax. Core operating PAT grew by 16.6% YoY to ₹244 crore, driven by robust performance in Corporate Advisory and Private Markets. The Wealth Management segment saw a 33% YoY surge in recurring AUM to ₹33,144 crore, though profitability was temporarily impacted by aggressive hiring and infrastructure expansion. The company maintains a healthy balance sheet with a Gross Debt/Equity ratio of 1.0x and a Book Value Per Share of ₹108.9.
Key Highlights
Consolidated PAT for Q3FY26 stood at ₹313 crore, up 49.7% YoY, while 9MFY26 PAT reached ₹1,037 crore.
Corporate Advisory and Capital Markets revenue grew 33% YoY to ₹322 crore, maintaining #1 rank in IPOs.
Wealth Management recurring AUM increased 33% YoY to ₹33,144 crore with a 41% increase in RM and sales headcount.
Affordable Home Loans AUM grew 23% YoY to ₹3,183 crore with a granular average ticket size of ~₹10 lakhs.
Operating ROE improved to 12.7% in Q3FY26 compared to 9.4% in Q3FY25.
👀 What to Watch
Investors should monitor the conversion of the strong investment banking pipeline and the stabilization of costs in the Wealth Management segment. The improving ROE and diversified revenue streams across advisory and lending provide a positive outlook for long-term holders.
JM Financial Q3FY26 PAT Jumps 50% YoY to Rs 313 Cr; 9M PAT Crosses Rs 1,000 Cr Milestone
JM Financial reported a strong Q3FY26 with consolidated PAT rising 50% YoY to Rs 313 crore, while 9-month PAT reached a significant milestone of Rs 1,037 crore. The growth was supported by a 32% increase in fee and commission income and robust performance in the Private Markets and Affordable Home Loans segments. Wealth management saw aggressive expansion with a 41% increase in relationship managers and a 33% rise in recurring AUM. The company maintained a healthy debt-to-equity ratio of 1.0x and grew its book value per share by 17% YoY to Rs 108.9.
Key Highlights
Consolidated PAT for Q3FY26 rose 50% YoY to Rs 313 crore; 9MFY26 PAT surged 69% to Rs 1,037 crore.
Wealth Management recurring AUM grew 33% YoY to Rs 33,144 crore, supported by a 41% increase in RM headcount to 1,057.
Affordable Home Loans AUM increased 23% YoY to Rs 3,183 crore with the customer base crossing 30,000.
Private Markets segment non-core loan book reduced by 53% YoY to Rs 1,984 crore, indicating successful de-risking.
Investment banking pipeline remains robust with 54 filed IPO transactions aggregating to approximately Rs 121,000 crore.
👀 What to Watch
Investors should view the strong growth in recurring revenue streams and the reduction of non-core assets as positive indicators of structural improvement. The massive investment banking pipeline suggests continued earnings momentum in the upcoming quarters.
JM Financial Reports Q3 FY26 Results; Major Subsidiaries Post ₹338 Crore Revenue
JM Financial Limited announced its financial results for the quarter ended December 31, 2025, highlighting steady performance across its diversified financial services portfolio. Seven of its key reviewed subsidiaries contributed a combined revenue of ₹338.43 crore and a net profit of ₹71.32 crore for the quarter. The group also reported a ₹13.45 crore share in profits from its associates. Notably, the company has revised its operating segments effective April 1, 2025, to better align with Ind AS 108 reporting standards.
Key Highlights
Seven reviewed subsidiaries reported total revenue of ₹338.43 crore for Q3 FY26.
Net profit from major reviewed subsidiaries stood at ₹71.32 crore for the quarter.
Group's share of net profit from associates was ₹13.45 crore for the quarter ended December 31, 2025.
Nine-month revenue for the seven major subsidiaries reached ₹984.09 crore with a profit of ₹191.08 crore.
Operating segments were reclassified starting FY26 to provide better transparency into business verticals.
👀 What to Watch
Investors should analyze the performance of the newly classified segments to identify growth drivers in the credit vs. advisory businesses. The stock remains a watch as the market assesses the impact of the segment restructuring on long-term valuation.
Bajaj Finance Q3 FY26: Core PAT up 23% to ₹5,317 Cr; AUM grows 22% to ₹4.84 Lakh Cr
Bajaj Finance reported a strong core performance for Q3 FY26 with adjusted PAT growing 23% YoY to ₹5,317 crore, although reported PAT dipped 6% due to one-time accelerated provisions and labor code charges. Assets Under Management (AUM) grew 22% YoY to ₹484,477 crore, supported by a massive customer franchise of 115.4 million. Asset quality remains stable with NNPA at 0.47%, and the company is aggressively implementing its 'FINAI' transformation to drive future operating efficiencies. Subsidiaries BHFL and BFSL also showed robust growth, with BHFL AUM rising 23% and BFSL PAT surging 74%.
Key Highlights
Core PAT grew 23% YoY to ₹5,317 Cr, excluding a ₹1,406 Cr accelerated ECL provision and ₹265 Cr labor code charge.
Consolidated AUM increased by 22% YoY to reach ₹484,477 Cr, with 13.90 million new loans booked in Q3.
Customer franchise expanded to 115.40 million, adding 4.76 million new customers during the quarter.
Asset quality remained healthy with GNPA at 1.21% and NNPA at 0.47%, while the provisioning coverage ratio stands at 61%.
Bajaj Housing Finance (BHFL) reported 23% AUM growth and 21% PAT growth, maintaining superior asset quality with NNPA at 0.11%.
👀 What to Watch
Investors should look past the one-time provisioning hit as it strengthens the balance sheet; the core 23% profit growth and 22% AUM growth signal continued dominance. The aggressive AI-led transformation and strong subsidiary performance make it a high-conviction long-term hold in the NBFC space.
