Bajaj Holdings & Investment Ltd

Bajaj Holdings & Investment Ltd

₹ 8,012 2.25%
22 Apr 12:33 p.m.
About

Bajaj Holdings & Investment Ltd. operates as an Investment Company and is registered as a Non-Banking Financial Institution – Investment and Credit Company with the Reserve Bank of India. The Co. holds more than 30% stake in both Bajaj Auto Ltd. and Bajaj Finserv Ltd. [1]

Key Points

History
The Co. was demerged from erstwhile Bajaj Auto Ltd. whereby its manufacturing undertaking has been transferred to the Bajaj Auto Limited (BAL) and its strategic operation involving the wind farm business and financial services business has been transferred to Bajaj Finserv Limited (BFS). All businesses and all properties, assets, investments and liabilities of the former Bajaj auto Ltd, with the exception of the manufacturing and strategic business undertaking, now remain with BHIL. [1]

  • Market Cap 89,166 Cr.
  • Current Price 8,012
  • High / Low 9,355 / 6,259
  • Stock P/E 51.3
  • Book Value 1,508
  • Dividend Yield 1.56 %
  • ROCE 11.4 %
  • ROE 11.0 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 128%

Cons

  • Stock is trading at 5.30 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 8.31% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
92 81 91 1,522 85 79 84 1,624 91 77 98 1,664 101
22 26 25 22 25 25 32 30 33 24 32 28 31
Operating Profit 70 55 66 1,501 59 54 52 1,593 58 53 67 1,636 70
OPM % 77% 67% 72% 99% 70% 68% 62% 98% 64% 68% 68% 98% 70%
13 20 13 13 14 16 13 13 16 19 15 15 24
Interest 1 1 1 1 1 1 1 1 1 5 1 1 1
Depreciation 8 8 8 8 8 8 8 8 8 8 8 8 8
Profit before tax 75 66 70 1,505 65 61 56 1,598 66 59 73 1,643 86
Tax % 32% 49% 30% 1% 25% 24% 23% 2% 25% 24% 25% 4% 23%
51 34 49 1,486 49 46 43 1,574 49 45 55 1,571 66
EPS in Rs 4.57 3.03 4.39 133.56 4.41 4.14 3.88 141.43 4.42 4.06 4.97 141.18 5.89
Raw PDF
Upcoming result date: 26 April 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
648 744 836 1,003 1,395 883 949 998 2,206 426 1,831 1,933 1,940
7 13 21 37 37 211 64 85 114 86 97 119 115
Operating Profit 641 731 815 966 1,357 673 885 914 2,092 340 1,734 1,813 1,826
OPM % 99% 98% 97% 96% 97% 76% 93% 92% 95% 80% 95% 94% 94%
2 1 3 4 7 5 5 0 0 6 2 4 74
Interest 0 0 0 0 0 0 0 0 13 4 3 7 7
Depreciation 0 2 5 5 5 5 5 4 32 32 32 32 32
Profit before tax 643 730 814 964 1,359 672 884 910 2,048 310 1,701 1,779 1,861
Tax % 12% 9% 10% 10% 6% 20% 10% 13% 11% 36% 4% 4%
567 663 733 868 1,271 538 800 788 1,827 199 1,631 1,712 1,737
EPS in Rs 50.99 59.60 65.89 77.97 114.16 48.36 71.88 70.82 164.15 17.84 146.51 153.79 156.10
Dividend Payout % 49% 42% 46% 42% 28% 67% 56% 46% 24% 224% 78% 80%
Compounded Sales Growth
10 Years: 10%
5 Years: 15%
3 Years: -4%
TTM: 3%
Compounded Profit Growth
10 Years: 10%
5 Years: 16%
3 Years: -2%
TTM: 1%
Stock Price CAGR
10 Years: 22%
5 Years: 19%
3 Years: 32%
1 Year: 23%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 8%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 111 111 111 111 111 111 111 111 111 111 111 111 111
Reserves 4,737 5,075 5,418 5,852 6,687 7,225 10,110 10,878 10,581 13,905 15,277 15,554 16,668
0 0 0 0 0 0 0 0 168 136 114 93 78
446 422 442 494 172 66 68 56 66 350 567 563 1,974
Total Liabilities 5,294 5,609 5,972 6,457 6,970 7,402 10,289 11,046 10,926 14,503 16,069 16,321 18,832
29 25 25 25 24 220 215 193 359 328 297 265 250
CWIP 160 0 0 0 0 0 0 0 0 0 0 0 0
Investments 4,249 4,932 5,366 6,173 5,308 6,894 9,597 10,295 10,335 14,020 15,492 15,724 16,959
855 651 581 259 1,637 288 478 557 232 156 280 331 1,623
Total Assets 5,294 5,609 5,972 6,457 6,970 7,402 10,289 11,046 10,926 14,503 16,069 16,321 18,832

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
434 459 868 776 1,143 -913 1,629 627 1,849 225 1,581 1,669
49 -349 -515 -445 1,022 -383 -1,123 -163 -844 -188 -106 -133
-452 -323 -326 -391 -759 -110 -432 -536 -988 -35 -1,475 -1,532
Net Cash Flow 30 -213 27 -59 1,406 -1,406 74 -72 17 2 -0 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days -219 -194 -164 -146 -16 30 60 129 15 64 39 45
ROCE % 14% 15% 15% 17% 21% 10% 10% 9% 19% 3% 11% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
49.95% 50.07% 50.48% 51.09% 51.20% 51.20% 51.36% 51.46% 51.46% 51.46% 51.46% 51.46%
13.68% 13.31% 13.02% 12.06% 11.80% 12.04% 12.27% 12.34% 12.39% 11.65% 11.57% 11.53%
4.29% 4.64% 4.73% 5.17% 5.28% 5.32% 4.95% 4.97% 5.04% 5.88% 5.95% 6.09%
32.08% 31.98% 31.77% 31.68% 31.72% 31.43% 31.41% 31.22% 31.11% 31.01% 31.01% 30.90%
No. of Shareholders 59,50963,81564,33162,74968,18565,28673,43766,68763,63360,73461,27560,774

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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