Bajaj Finance Ltd (NSE:BAJFINANCE) Q2 2018 Earnings Conference Call - Final Transcript

Oct 19, 2018 • 08:00 am ET


Bajaj Finance Ltd (NSE:BAJFINANCE) Q2 2018 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, good day, and welcome to Bajaj Finance Q1 FY19 Earnings Conference Call, hosted by JM Financial. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Karan Singh from JM Financial. Thank you, and over to you, sir.

Karan Singh

Thank you. Good evening, everybody, and welcome to Bajaj Finance' earning call to discuss the first quarter results. To discuss the results, we have on the call Mr. Rajeev Jain, who is the MD; Mr. Sandeep Jain, CFO; Rakesh Bhatt, COO; Mr. Atul Jain, CEO, Bajaj Housing Finance; and Mr. Anup Saha, President, Consumer Business.

May I request Mr. Rajeev Jain to take us through the financial highlight, subsequent to which we can open the floor for Q&A session? Over to you, sir.

Rajeev Jain

Yeah. Thank you, Karan. Good evening to all of you. Our apologies for starting this late in the evening due to the Annual General Meeting of both Bajaj Finance in the afternoon and Bajaj Finserv in the -- late in the afternoon.

I have some of my colleagues around the table that Karan has already introduced. We have uploaded the Investor Presentation deck on the website and we will refer to that for the purpose of this investor call.

I will request you to jump straight to Section 1 of the Investor Presentation, and page number 13. Given that these are all financial numbers and given the transition from previous GAAP to IndAS and this is the first quarter that we are publishing these financials; we've provided previous GAAP data, which is Section 1 and then we have provided IndAS financials, which is Section 2. And given that they are all essentially numbers, I request -- I'm going to request Sandeep Jain to slowly go through Section 1 and Section 2. He will first go through previous GAAP then go through IndAS and I will come in at Section 3, which is about non-financial commentary and some of the important slides, and then we are ready to take questions.

Sandeep Jain

Sure. I'm on slide number 14, before I start talking about the numbers based on Indian GAAP, which is not the standard that we incrementally will follow from reporting perspective, let me just read out the disclaimer. This is the first time that we are adopting Indian Accounting Standards, and in order to facilitate comparability of numbers, in order to ensure that you understand the performance of the Company in the way you used to see earlier as well, we have basically worked out the Indian GAAP numbers as well, basically to give you the view of the core growth that the Company has delivered in the last quarter. These are not the numbers that have been reviewed or have been subjected to review by statutory auditors.

In the quarter one -- as