Aye Finance Limited (NSE: AYE), India’s leading NBFC, announced its financial results for the quarter ended September 30, 2026 (Q2FY27). The company reported its highest-ever quarterly profit after tax (PAT) of INR 86.7 Crore, a 151% year-over-year (YoY) and 16% quarter-over-quarter (QoQ) jump, delivering a Return on Assets Under Management (RoAUM) of 4.7% for the quarter. Notably, credit cost declined for the seventh straight quarter to 3.8%, while the operating expense ratio dropped to 8.6%, the lowest in the last eight quarters.

Financial Highlights

The financial performance of Aye Finance Limited (NSE: AYE) in Q2FY27 was impressive. The profit after tax (PAT) surged to INR 86.7 Crore, marking a significant 151% YoY and 16% QoQ increase. The RoAUM stood at 4.7%, up from 2.4% in Q2FY26 and 4.2% in Q1FY27. Additionally, the credit cost fell to 3.8%, continuing its downward trend for seven consecutive quarters. The operating expense ratio also improved to 8.6%, the lowest in the past eight quarters.

Business Performance

On the business front, Aye Finance Limited (NSE: AYE) saw robust growth in its assets under management (AUM), which increased by 26% YoY and 4% QoQ to INR 7597 Crore. Disbursements rose by 10% YoY and 15% QoQ to INR 1403 Crore. Active customers grew by 18% YoY and 4% QoQ to 6.94 lakh. The company added 49,150 new borrowers, up 26% YoY and 10% QoQ. The Gross Non-Performing Asset (GNPA) to Gross Asset ratio was 4.2%, and the Net Non-Performing Asset (NNPA) to Net Asset ratio was 1.6%.

Sanjay Sharma, Managing Director, Aye Finance, commented on the second quarter’s performance: “India’s micro-enterprises form the backbone of its economy, yet many still lack access to formal credit. Aye Finance was built to serve them at scale without compromising on asset quality or cost discipline, and this quarter’s results show that model at work. As we increase our leverage against the capital raised in our February 2026 IPO, we expect return on equity to rise steadily through the subsequent quarters.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Aye Finance Limited

Aye Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Aye falls 8.8% over three months and has not found a floor yet. The PEG of 0.22 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 2.75. High leverage in this environment is a material risk the market cannot ignore. The stock holds at 60% of its 52-week range with RSI at 36. In other words, neither side has a clear edge right now. Revenue grows at 40.4% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Aye Finance Limited.

Bajaj Finance Limited (BAJFINANCE) has reported stellar financial results for Q2 FY27, marking a significant growth across all key metrics. The company’s Assets Under Management (AUM) surged by 26% to ₹ 584,624 crore, while the Profit Before Tax (PBT) grew by 29% to ₹ 8,537 crore. Notably, the Return on Equity (ROE) reached an impressive 20.6% for the quarter.

Robust Financial Performance

The company’s financial performance has been robust, with AUM addition of ₹ 37,680 crore in Q2 FY27. The company booked 13.45 million new loans and added 4.42 million new customers, reflecting a strong customer franchise of 128.85 million as of September 30, 2026.

Operational Efficiencies and Asset Quality

Net interest income grew by 24% to ₹ 13,335 crore, and net total income increased by 23% to ₹ 15,974 crore. The cost of funds improved to 7.31% in Q2 FY27, reflecting better operational efficiencies. The asset quality remained strong with GNPA and NNPA improving to 1.06% and 0.42%, respectively.

Looking Ahead

Bajaj Finance Limited remains committed to building resilience across various dimensions of its business, including maintaining a robust capital position, strengthening talent, technology and AI transformation, cyber resilience, regulatory compliances, robust provisioning coverage, diversified borrowings, and robust liquidity.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Bajaj Finance Limited

Bajaj Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Bajaj moves sideways over three months, with neither buyers nor sellers taking control. Industry-leading margins of 43.5% reflect exceptional pricing power and operational efficiency. Revenue grows at 22.6% and profits at 18.2% CAGR. Both numbers are exceptional. The stock holds at 50% of its 52-week range with RSI at 47. In other words, neither side has a clear edge right now. The business grows revenue at 22.6% and profits at 18.2%, with D/E of 0.00. The stock reflects that strength. Moreover, when fundamentals and price action align, the PEG of 1.62 premium is usually justified. Check Fundamentals of Bajaj Finance Limited.

Piramal Finance Limited (NSE: PIRAMALFIN), one of India’s leading Non-Banking Financial Companies (NBFCs), reported a Profit After Tax (PAT) of ₹ 545 crore, up 67% year-on-year (yoy), for the second quarter ended September 30, 2026. The company also successfully raised ₹ 3,850 crore to strengthen its capital base and support retail-led growth. This marks a significant milestone in the company’s transformation into a diversified, retail-led financial institution.

Strong Financial Performance

Assets Under Management (AUM) increased 24% yoy to ₹ 1,13,112 crore, driven by a 30% yoy increase in Growth AUM, which excludes the discontinued legacy business. Retail disbursements surged 34% yoy to ₹ 14,646 crore, reflecting sustained customer demand and continued business momentum.

Capital Raise and Expansion

The company completed an equity capital raise of ₹ 3,850 crore, comprising a QIP of ₹ 2,100 crore and a preferential allotment of ₹ 1,750 crore of warrants to the promoter group. This capital raise will strengthen the company’s financial position to support future growth. Additionally, the company’s nationwide footprint expanded to 838 branches across 621 cities in 25 states, while its customer franchise grew 26% yoy to 6.5 million.

Leadership Changes

Today, the company also announced the appointment of Mr. Dinesh Kumar Khara, former Chairman of the State Bank of India (SBI), as an Independent Director for a five-year term. His extensive experience and deep understanding of financial services will be invaluable to the company.

Speaking on the performance, Anand Piramal, Chairman of Piramal Finance Limited, said, ‘Q2 marks another quarter of consistent performance across growth, profitability, and predictability, with our Growth AUM increasing 30% yoy. We are encouraged by the confidence shown in us through our first capital raise as Piramal Finance, including strong participation from domestic and global investors. This quarter also marks five years since the DHFL merger, an important milestone in our transformation into a diversified, retail-led financial institution serving around 6.5 million customers across Bharat. We are grateful for their trust and recognize the responsibility that comes with this scale. As we grow, our focus remains on expanding responsible access to formal credit, combining our physical network with technology and AI to serve customers better. We remain committed to delivering sustained, profitable growth and building a strong and sustainable institution for the long term.’

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Piramal Finance Limited

Piramal Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Piramal falls 9.1% over three months and has not found a floor yet. D/E reaches 2.42. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 32.2% reflect exceptional pricing power and operational efficiency. The stock holds at 65% of its 52-week range with RSI at 37. In other words, neither side has a clear edge right now. Revenue grows at 16.9% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Piramal Finance Limited.