1. Executive Summary: The Headline Strong beat on profitability with record quarterly profit. PAT surged 45% YoY to ₹1,386 cr (highest ever), driven by robust NII growth, higher fee income, and improved asset quality. Overarching narrative: Core franchise delivered well (NII +26%, advances +22%, CASA strength), asset quality reached decade lows, and RoA improved. Results… Read More »
1. Executive Summary: The Headline Strong beat and record quarterly profit. PAT nearly tripled YoY to ₹365 cr on sharp credit-cost normalization, robust NII growth, and improved asset quality. Overarching narrative: Broad-based loan growth (+32% YoY), rising secured book mix (52%), deposit franchise expansion, and healthy margins. Results track ahead of full-year guidance on growth… Read More »
1. Executive Summary: The Headline Mixed but constructive print. Consolidated PAT rose ~10–11% YoY to ₹1,301 cr despite softer reported revenue, supported by margin/mix dynamics, fair-value/JV contributions, and strong underlying cash generation. Overarching narrative: Reported P&L remains lumpy due to possession-based accounting. Pre-sales of ₹3,800 cr (with complete sell-out of Aureva luxury retirement project) and… Read More »
1. Executive Summary: The Headline Solid growth print with record quarterly profit. Standalone PAT rose ~13% YoY to ₹5,532 cr (highest ever), supported by NII growth, sequential NIM expansion, and sharp improvement in asset quality with lower provisions. Overarching narrative: Steady core franchise growth (advances +15%, deposits +10%), margin recovery, and continued asset-quality cleanup. Profitability… Read More »
1. Executive Summary: The Headline Mixed print: Consolidated revenue declined ~6% YoY and PAT was essentially flat (+0.2% YoY), but margins expanded meaningfully and sequential performance was strong. Overarching narrative: Reported P&L is distorted by possession-based revenue recognition. Underlying demand remains robust, evidenced by record pre-sales/booking value (Q2 ~₹9,150 cr; H1 ~₹10,200 cr). Margin expansion… Read More »
1. Executive Summary: The Headline In-line results with modest profit growth. Standalone PAT rose 4.7% YoY to ₹19,510 cr, closely matching street estimates, while NII grew ~10% and asset quality improved. Overarching narrative: Steady core franchise performance (double-digit advances and deposits growth) with sequential NIM compression and lower treasury gains offsetting some operating strength. Asset… Read More »
1. Executive Summary: The Headline Clean beat on profitability and core income. Standalone PAT rose 20% YoY to ₹14,843 cr, exceeding estimates, driven by strong NII growth, lower provisions, and robust loan expansion. Overarching narrative: Healthy double-digit (and better) growth in advances and deposits, continued asset-quality improvement, and solid operating performance. Sequential NIM compression is… Read More »
1. Executive Summary: The Headline Strong YoY growth but a modest miss on PAT. Net profit rose ~38% YoY to ₹7,003 cr, slightly below street estimates, while NII beat expectations and asset quality improved further. Overarching narrative: Healthy loan and deposit growth, sharp decline in provisions, and sequential improvement in GNPA/NNPA. Sequential NIM pressure and… Read More »
1. Executive Summary: The Headline Solid beat on top line and operating metrics. Revenue rose 18% YoY to ₹2,263 cr and EBITDA expanded 24% with margin improvement, while reported PAT jumped sharply (partly aided by a low base). Overarching narrative: Broad-based growth across ECD (fans, pumps, appliances), Lighting, and Butterfly, supported by record exports, price… Read More »
“A tree grows as tall as its roots run deep.” In the blinding glitter of modernity, we often forget that identity is not built by clothes, language, or appearance—but by sanskar. By values. By the soil from which we rise. This is the story of a family that nearly lost its roots in the race… Read More »