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    Ranjan Sharma

    Research Analyst at JPMorgan Chase & Co.

    Ranjan Sharma is an Executive Director and Analyst at JPMorgan Chase & Co., specializing in equity research with a primary focus on the Indian banking and financial services sector. He covers prominent companies including State Bank of India, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, and has earned recognition for his insightful analysis and market forecasts, reflected in a consistent track record of outperforming consensus estimates and being ranked among top analysts in regional surveys. Sharma began his career in financial research in the early 2010s, previously working at Edelweiss Financial Services and ICICI Securities before joining JPMorgan in 2018. He holds the Chartered Financial Analyst (CFA) designation and maintains active securities licensing with regulatory bodies, further underscoring his expertise and credibility in the investment research domain.

    Ranjan Sharma's questions to Grab Holdings (GRAB) leadership

    Ranjan Sharma's questions to Grab Holdings (GRAB) leadership • Q2 2025

    Question

    Ranjan Sharma asked for clarity on the Deliveries segment, noting that EBITDA excluding advertising revenue appeared soft and questioned when it might inflect. He also asked for details on the composition of the rapidly growing loan portfolio in the Fintech segment.

    Answer

    COO Alex Hungate and CFO Peter Oey responded that advertising is an integral part of the Deliveries business, with its value increasing as the delivery network scales. They reiterated that the focus is on balancing strong top-line growth with margin improvement, noting a majority of countries are already at the 4-5% margin target. On Fintech, Hungate expressed confidence in exceeding a $1B loan book by year-end, driven by personal loans, BNPL, and new supply chain financing capabilities, while reiterating the 2026 breakeven target for the segment.

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    Ranjan Sharma's questions to Grab Holdings (GRAB) leadership • Q3 2024

    Question

    Ranjan Sharma inquired about the potential size of the profitable MTU market in Southeast Asia. He also asked if the company's strong net cash position and free cash flow generation might lead to an increase in its share buyback program.

    Answer

    Chief Operating Officer Alex Hungate addressed the MTU question, noting that with MTUs at only 5% of the Southeast Asian population, there is considerable long-term upside. Chief Financial Officer Peter Oey handled the capital allocation question, stating that the priority remains organic investment. He confirmed they will continue executing the current $500 million buyback program, of which over $300 million remains, before revisiting the program's size.

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    Ranjan Sharma's questions to Sea (SE) leadership

    Ranjan Sharma's questions to Sea (SE) leadership • Q3 2024

    Question

    Ranjan Sharma inquired about the remaining profitable growth potential for e-commerce in Southeast Asia, the possibility of expansion beyond Asia now that Brazil is profitable, and the capital allocation strategy for the company's large cash balance.

    Answer

    Forrest Li, Chairman and CEO, expressed confidence in further e-commerce penetration in Southeast Asia. He confirmed Brazil remains the core focus outside of Asia with no other near-term expansion plans. Regarding capital, he stated that maximizing shareholder value is a top priority and the company is open-minded about all options, including buybacks.

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    Ranjan Sharma's questions to PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK (TLK) leadership

    Ranjan Sharma's questions to PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK (TLK) leadership • Q2 2022

    Question

    Ranjan Sharma of JPMorgan Chase & Co. asked for details on recent tariff hikes by Telkomsel and its peers, the observed impact on industry revenues, and the company's outlook for industry revenue growth over the coming quarters.

    Answer

    President Director and CEO Ririek Adriansyah stated that Telkomsel aims to balance profitability and market share by improving customer usage to stabilize ARPU. He observed that the competitive environment is becoming more rational, citing competitors' price increases and the discontinuation of unlimited plans. While seeing potential for recovery, he noted the company is closely monitoring market and macroeconomic conditions before providing a specific industry growth forecast.

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