Bajaj Finserv Ltd logo

Bajaj Finserv Ltd

BAJAJFINSV NSE

Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.[1]

AI Verdict: HOLD Confidence: 5%

Bajaj Finserv trades at a PE of 14.4x with consistent 20%+ sales CAGR over 10 years, but ROE of 13-14% is modest for a financial services holding company trading at 3.63x book value. The stock has declined 11% over the past year despite strong analyst buy ratings (73%), suggesting the market is repricing growth expectations.

Key Fundamentals

LargecapHolding CompanyFinancial Services
Market Cap
2.9L Cr
Volatility
Moderate
P/E Ratio
28.78
EBITDA
₹55,158 Cr
Return on Equity
15.03%
Debt to Equity
4.86
Book Value
₹486.8
EPS
₹52.25
52W High
₹2,195
52W Low
₹1,597

Technical Indicators

Key Insights

Strengths

1
  • Company's median sales growth is 20.6% of last 10 years

Weaknesses

3
  • Stock is trading at 3.66 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 13.8% over last 3 years.

Growth Rate

Revenue Growth
11.56% ↗
Net Income Growth
8.83% ↘
Cash Flow Change
5.17% ↗
ROE
-9.05% ↘
ROCE
-2.38% ↘
EBITDA Margin (Avg.)
0.44% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
HOLD
Risk medium

Bajaj Finserv trades at a PE of 14.4x with consistent 20%+ sales CAGR over 10 years, but ROE of 13-14% is modest for a financial services holding company trading at 3.63x book value. The stock has declined 11% over the past year despite strong analyst buy ratings (73%), suggesting the market is repricing growth expectations.

Bull Case 8
  • Strong analyst consensus with 73.33% buy ratings (11 out of 15 analysts recommending buy)
  • Consistent compounded sales growth of 22% CAGR over 10 years demonstrates durable business momentum
  • Reasonable PE of 14.4x for a diversified financial services conglomerate with 20%+ revenue growth track record
  • Compounded profit growth of 18% CAGR over 10 years shows sustained earnings compounding
  • TTM revenue growth of 12% and profit growth of 12% indicate continued business expansion even in a tougher macro environment
  • 5-year profit CAGR of 17% outpaces many large-cap financial peers, reflecting operating leverage across insurance and lending verticals
  • Market cap of Rs 2,82,993 crore provides deep liquidity and index inclusion benefits for institutional investors
  • Median sales growth of 20.6% over last 10 years confirms structural demand tailwinds in underpenetrated insurance and credit markets
Bear Case 8
  • Stock is trading at 3.63x book value which is expensive given ROE of only 13-14%, implying poor return on incremental capital at current valuations
  • ROE has stagnated at 14% across 3-year, 5-year, and 10-year periods with last year declining to 13%, showing no improvement in capital efficiency
  • Stock price CAGR of -11% over the past 1 year signals significant near-term underperformance and negative momentum
  • Low interest coverage ratio raises concerns about debt servicing capacity in a rising rate environment
  • Dividend yield of just 0.08% offers negligible income return, providing no downside cushion for investors
  • 3-year stock CAGR of only 6% versus 16% profit CAGR indicates PE multiple compression and market de-rating
  • TTM sales and profit growth have decelerated to 12% from 22% and 16% three-year CAGRs respectively, suggesting slowing momentum
  • 13.33% of analysts rate the stock a sell, indicating non-trivial disagreement on the investment thesis

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 3
  • Stock down 11.32% over past year Jun 16

    Bajaj Finserv has declined 11.32% over the past year, underperforming both NIFTY (-3.7%) and Nifty Financial Services index (-0.29%) over the same period.

  • Elevated PE ratio at 195.5x Jun 16

    The stock trades at a price-to-earnings ratio of 195.5x on trailing twelve months earnings ending March 2026, indicating expensive valuation relative to current earnings.

  • Rajiv Bajaj exits board Jun 09

    Non-executive Director Rajiv Bajaj will not seek re-election at the July 31 AGM, citing increased commitments at Bajaj Auto including new subsidiaries and the KTM acquisition.

Positives 4
  • ₹1,500-2,000 cr AI startup fund May 28

    Bajaj Finserv launched Finserv Intelligence to invest ₹1,500-2,000 crore over five years in AI, cybersecurity, quantum tech and fintech startups from seed to Series B, with IIT Bombay partnership for a joint research centre.

  • EMI purchases up ~45% Jun 11

    EMI-based purchases of smartphones and laptops rose about 45% per Bajaj Finserv data, reflecting growing consumer financing adoption that benefits the company's lending ecosystem.

  • Three-session winning streak Jun 16

    Stock rose 1.51% to ₹1,776.6 for a third consecutive session with trading volume of 14.08 lakh shares, well above the 8.31 lakh daily average over the past month.

  • F&O buy recommendation Jun 10

    ICICI Securities analyst recommended buying Bajaj Finserv futures at ₹1,690-1,705 with targets of ₹1,780-1,820, citing support near previous swing low and short covering reducing leverage.

Neutral 3
  • 19th AGM set for July 31 Jun 23

    Bajaj Finserv will hold its 19th Annual General Meeting on July 31, 2026 via video conferencing, with notices published in English and Marathi newspapers.

  • London investor meet Jun 23-24 Jun 16

    Company scheduled institutional investor interaction at the IIFL Invest India Conference in London on June 23-24, 2026.

  • ₹27.28 cr block trade on NSE Jun 22

    Block trade of ~1,53,765 shares executed at ₹1,773.90 per share totalling ₹27.28 crores, following a ₹25.76 crore block trade on Jun 16 at ₹1,791.70, indicating sustained large-investor participation.

TL;DR: Bajaj Finserv is making a significant strategic bet on technology with its ₹1,500-2,000 crore Finserv Intelligence initiative targeting AI and deep-tech startups, while its core consumer lending business benefits from a 45% surge in EMI adoption. The stock remains expensive at 195.5x PE and has underperformed its sector by 11% over the past year. Near-term momentum is improving with a three-session rally and above-average volumes, but the board departure and stretched valuation warrant monitoring as the company pivots toward longer-horizon technology investments.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
23,625
23,280
26,023
29,038
32,041
31,480
33,704
32,042
36,595
35,439
37,403
39,708
38,494
Expenses
15,470
13,935
16,073
18,601
21,108
19,655
21,420
19,669
23,868
21,124
23,352
25,842
23,983
Operating Profit
8,154
9,345
9,950
10,438
10,933
11,825
12,283
12,373
12,728
14,315
14,050
13,866
14,511
OPM %
35%
40%
38%
36%
34%
38%
36%
39%
35%
40%
38%
35%
38%
Other Income
2
3
0
2
4
3
3
3
10
13
3
-378
25
Interest
3,436
4,020
4,449
4,777
5,154
5,592
6,046
6,276
6,396
6,807
6,901
7,232
7,291
Depreciation
181
202
209
232
257
267
275
288
339
317
327
330
317
PBT
4,540
5,125
5,292
5,431
5,527
5,968
5,966
5,812
6,002
7,204
6,825
5,926
6,928
Tax %
27%
28%
29%
26%
26%
29%
30%
24%
21%
26%
30%
26%
25%
Net Profit
3,335
3,709
3,756
4,045
4,085
4,209
4,180
4,412
4,756
5,329
4,746
4,368
5,226
EPS in Rs
11.11
12.2
12.09
13.52
13.28
13.39
13.07
13.97
15.14
17.46
14.04
13.95
15.86
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
11,335
20,533
24,507
32,862
42,605
54,351
60,592
68,406
82,072
1,10,382
1,33,822
1,50,504
Expenses
5,823
13,795
15,794
22,074
27,569
36,094
40,950
46,951
52,204
69,497
84,298
93,761
Operating Profit
5,511
6,739
8,713
10,788
15,037
18,258
19,641
21,455
29,868
40,886
49,524
56,743
OPM %
49%
33%
36%
33%
35%
34%
32%
31%
36%
37%
37%
38%
Other Income
8
0
0
1
2
0
-7
8
1
-4
-18
-336
Interest
2,230
2,877
3,716
4,531
6,657
9,500
9,274
9,629
12,380
18,607
24,587
28,232
Depreciation
38
58
73
160
226
457
498
563
678
900
1,170
1,291
PBT
3,251
3,804
4,925
6,099
8,155
8,302
9,862
11,271
16,811
21,375
23,748
26,883
Tax %
26%
27%
30%
32%
34%
28%
25%
26%
27%
27%
26%
27%
Net Profit
2,409
2,775
3,450
4,176
5,374
5,994
7,367
8,314
12,210
15,595
17,558
19,669
EPS in Rs
10.62
11.71
14.21
16.65
20.23
21.17
28.09
28.63
40.29
51.07
55.57
61.24
Div. Payout %
2%
1%
1%
1%
1%
2%
1%
1%
2%
2%
2%
2%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
80
80
80
80
80
80
80
80
159
159
160
160
Reserves
11,009
13,519
16,071
20,403
23,660
31,222
35,750
40,167
46,248
60,169
72,236
77,755
Borrowings
26,312
36,062
48,282
65,695
99,754
1,27,212
1,28,461
1,61,179
2,12,265
2,88,933
3,55,855
4,29,914
Other Liabilities
50,827
54,290
64,181
75,337
84,934
92,791
1,15,554
1,31,987
1,46,729
1,88,154
2,23,269
2,50,669
Total Liabilities
88,228
1,03,951
1,28,614
1,61,514
2,08,428
2,51,304
2,79,845
3,33,413
4,05,401
5,37,415
6,51,519
7,58,498
Fixed Assets
1,261
1,274
1,645
1,792
2,097
3,216
3,182
3,586
4,336
5,455
6,297
6,800
CWIP
3
11
4
28
66
45
129
113
191
220
314
250
Investments
51,367
53,698
62,658
69,428
81,679
91,821
1,13,654
1,19,222
1,36,176
1,70,127
1,90,130
1,94,414
Other Assets
35,598
48,969
64,306
90,266
1,24,587
1,56,223
1,62,879
2,10,493
2,64,698
3,61,613
4,54,778
5,57,034
Total Assets
88,228
1,03,951
1,28,614
1,61,514
2,08,428
2,51,304
2,79,845
3,33,413
4,05,401
5,37,415
6,51,519
7,58,498
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-10,731
-9,795
-10,922
-19,580
-27,076
-23,369
4,547
-33,670
-39,480
-65,502
-62,113
-55,301
Investing
3,709
-886
151
-922
-6,903
-9,948
-3,684
1,445
-13,945
-14,132
-7,987
-12,635
Financing
6,839
11,602
12,513
19,590
34,535
34,479
1,687
32,326
51,016
82,709
70,191
66,610
Net Cash Flow
-183
921
1,742
-911
555
1,162
2,551
101
-2,409
3,075
92
-1,326
Free Cash Flow
-10,731
-9,795
-10,922
-19,883
-27,646
-24,239
4,096
-34,420
-40,603
-66,811
-63,829
-56,619
CFO/OP
-195
-145
-125
-162
-161
-113
34
-142
-117
-146
-111
-84
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
17
12
19
19
19
18
17
16
15
20
23
23
Cash Conversion Cycle
17
12
19
19
19
18
17
16
15
20
23
23
Working Capital Days
-741
-341
-301
-750
-644
-417
-490
-493
-444
-406
-374
-351
ROCE %
15%
14%
14%
13%
13%
11%
10%
10%
11%
12%
11%
11%

Shareholding Pattern

As of Mar 2026
Promoters 58.71%
Others 12.86%
DIIs 11.76%
Public 9.43%
FIIs 7.24%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
60.80%
60.80%
60.80%
60.80%
60.77%
60.80%
60.75%
60.75%
60.78%
60.79%
60.69%
60.69%
60.69%
60.64%
60.64%
60.64%
60.64%
58.81%
58.81%
58.81%
58.71%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.65%
0.00%
8.43%
8.39%
8.24%
7.40%
7.52%
8.40%
8.11%
8.06%
7.24%
DIIs
4.70%
4.71%
5.25%
5.40%
5.76%
6.31%
6.16%
6.90%
7.10%
7.29%
7.10%
6.74%
7.32%
7.60%
8.13%
8.92%
9.01%
10.09%
10.49%
10.74%
11.76%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
16.81%
16.36%
16.33%
16.30%
16.46%
16.74%
11.94%
12.20%
12.95%
12.07%
11.58%
11.06%
10.80%
10.65%
10.30%
10.34%
10.12%
9.88%
9.76%
9.74%
9.43%
Others
17.69%
18.13%
17.62%
17.49%
17.01%
16.14%
21.15%
20.15%
19.18%
19.85%
12.98%
21.51%
12.77%
12.72%
12.69%
12.70%
12.71%
12.81%
12.83%
12.65%
12.86%
No. of Shareholders
0
1,94,174
1,76,219
2,02,188
2,27,973
2,43,853
2,99,380
5,63,432
6,31,436
6,91,234
6,60,295
5,85,220
5,67,041
7,08,432
8,07,360
7,77,680
7,08,845
6,83,279
6,39,624
6,17,071
6,01,457

Documents

1
Concall - Mar 2018 Mar 2018
2
Concall - Jun 2018 Jun 2018
3
Concall - Jun 2018 Jun 2018
4
Concall - Sep 2018 Sep 2018
5
Concall - Mar 2019 Mar 2019

Frequently Asked Questions about Bajaj Finserv Ltd

What does Bajaj Finserv Ltd do?
Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of li...
Where is Bajaj Finserv Ltd (BAJAJFINSV) listed?
Bajaj Finserv Ltd is listed on the Indian stock exchanges. It is listed on NSE: BAJAJFINSV and BSE: 532978. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Bajaj Finserv Ltd belong to?
Bajaj Finserv Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Bajaj Finserv Ltd?
Bajaj Finserv Ltd has a market capitalisation of approximately ₹285618.15 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Bajaj Finserv Ltd?
The Price-to-Earnings (PE) ratio of Bajaj Finserv Ltd is 28.78. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Bajaj Finserv Ltd?
Over the past 52 weeks, Bajaj Finserv Ltd has traded between a low of ₹1,597 and a high of ₹2,195. This range helps investors understand the stock's price volatility and recent trading levels.
Does Bajaj Finserv Ltd pay dividends?
Yes, Bajaj Finserv Ltd has a dividend yield of 0.08%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Bajaj Finserv Ltd?
Bajaj Finserv Ltd has a Return on Equity (ROE) of 15.03%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Bajaj Finserv Ltd on Tapetide?
On Tapetide, you can view Bajaj Finserv Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.[1]

Website bajajfinserv.in
CEO Mr. Sanjivnayan Rahulkumar Bajaj
Employees 1,04,668
Listed 2008-05-26
Face Value ₹ 1
Issued Size 1,59,78,13,220

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