Bajaj Holdings & Investment Ltd

₹ 13,979 -2.13%

08 Jul 2:17 p.m.

About

Incorporated in 2024, Bajaj Holdings & Investment Ltd is an Investment and Credit Company^[1]

Key Points

Business Overview:^[1]
a) BHIL was formed after demerger from
Bajaj Auto Limited, whereby its manufacturing undertaking was transferred to the new Bajaj Auto Limited (BAL), and its strategic business undertaking consisting of wind farm business, financial services business was vested with Bajaj Finserv Limited (BFS).
b) All the businesses and all properties, assets, investments, and liabilities of erstwhile Bajaj Auto Ltd, other than the manufacturing undertaking and the strategic business undertaking, now remain with BHIL.
c) Post-demerger, BHIL holds 30%+ shares each in BAL and BFS.
d) BHIL is registered as a Systemically Important Non-deposit Non-Banking Financial Company

Website BSE NSE

Market Cap ₹ 1,55,572 Cr.
Current Price ₹ 13,979
High / Low ₹ 14,873 / 9,012
Stock P/E 23.9
Book Value ₹ 5,633
Dividend Yield 0.65 %
ROCE 9.94 %
ROE 11.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 21.4%

Cons

Stock is trading at 2.51 times its book value
The company has delivered a poor sales growth of 9.47% over past five years.
Tax rate seems low
Company has a low return on equity of 12.3% over last 3 years.
Earnings include an other income of Rs.6,279 Cr.
Working capital days have increased from 244 days to 548 days

* 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

Financial Services Financial Services Finance Holding Company

Part of BSE 500 BSE 100 BSE 200 Nifty Next 50 Nifty 500 Nifty 100 Nifty 200 Nifty Alpha 50 Nifty 100 Equal Weight BSE Allcap BSE LargeCap BSE Financial Services BSE SENSEX Next 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Momentum Index BSE Diversified Financials Revenue Growth Index (I BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty100 ESG Nifty 100 Alpha 30 Index Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty Midsmallcap400 Momentum Quality 100 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	89	91	188	98	87	104	225	108	1,212	134	279	126	145
	33	37	37	37	32	36	33	36	35	61	46	31	42
Operating Profit	57	54	151	62	55	68	192	72	1,177	73	233	96	103
OPM %	64%	60%	81%	63%	63%	66%	85%	67%	97%	54%	83%	76%	71%
	1,074	938	1,214	1,252	1,326	1,375	1,479	1,602	1,563	1,554	1,335	1,694	1,695
Interest	1	1	1	1	5	1	1	1	1	0	0	0	0
Depreciation	8	8	8	8	8	8	8	8	8	8	8	8	8
Profit before tax	1,122	984	1,356	1,305	1,368	1,434	1,662	1,665	2,731	1,618	1,559	1,781	1,789
Tax %	1%	1%	1%	1%	1%	1%	4%	1%	1%	0%	3%	2%	2%
	1,106	970	1,336	1,287	1,353	1,416	1,588	1,645	2,716	1,615	1,510	1,750	1,751
EPS in Rs	99.32	87.10	111.67	115.52	121.55	127.19	133.98	147.76	244.05	144.70	129.06	157.09	155.04
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Upcoming result date: 6 August 2025

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	423	524	470	842	420	431	435	457	484	522	1,702	684
	23	40	42	215	65	85	134	106	117	142	140	180
Operating Profit	400	484	429	628	355	347	301	352	367	380	1,562	505
OPM %	94%	92%	91%	75%	85%	80%	69%	77%	76%	73%	92%	74%
	5	35	7	8	2,390	2,827	3,058	3,451	3,896	4,673	5,967	6,279
Interest	0	0	0	0	0	0	13	4	3	7	2	1
Depreciation	5	6	5	5	5	4	33	34	34	34	34	34
Profit before tax	400	513	430	630	2,739	3,170	3,314	3,766	4,226	5,012	7,493	6,748
Tax %	20%	19%	21%	21%	3%	4%	7%	3%	2%	1%	2%	2%
	1,988	2,029	2,265	2,473	2,655	3,048	3,080	3,654	4,126	4,946	7,365	6,626
EPS in Rs	178.59	182.33	203.54	222.22	238.54	273.90	268.84	327.95	364.41	435.83	652.98	585.90
Dividend Payout %	17%	19%	16%	15%	17%	12%	15%	12%	32%	28%	20%	16%

Compounded Sales Growth
10 Years:	3%
5 Years:	9%
3 Years:	12%
TTM:	-60%

Compounded Profit Growth
10 Years:	12%
5 Years:	17%
3 Years:	17%
TTM:	-10%

Stock Price CAGR
10 Years:	26%
5 Years:	39%
3 Years:	44%
1 Year:	44%

Return on Equity
10 Years:	12%
5 Years:	12%
3 Years:	12%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	111	111	111	111	111	111	111	111	111	111	111	111
Reserves	11,888	13,282	15,182	17,707	25,090	26,841	27,652	37,056	42,731	44,071	54,136	62,576
	0	0	0	0	0	0	168	136	114	93	63	31
	449	500	178	71	68	56	4,797	8,186	10,632	8,913	10,851	12,547
Total Liabilities	12,448	13,893	15,472	17,889	25,269	27,008	32,729	45,490	53,588	53,188	65,161	75,266
	532	544	544	222	215	193	374	342	310	278	244	203
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	11,325	13,078	13,276	17,364	24,575	26,257	32,068	44,914	52,964	52,555	64,715	73,808
	592	271	1,651	302	478	558	287	234	314	355	203	1,254
Total Assets	12,448	13,893	15,472	17,889	25,269	27,008	32,729	45,490	53,588	53,188	65,161	75,266

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	872	796	1,147	-923	1,631	628	1,920	272	1,610	1,728	1,941	-1,957
	-519	-464	1,019	-372	-1,123	-163	-800	-308	-151	-137	-472	3,054
	-326	-391	-761	-110	-434	-536	-1,028	-37	-1,460	-1,587	-1,455	-1,055
Net Cash Flow	27	-59	1,406	-1,406	74	-72	92	-73	-1	4	14	43

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0	0	0	0	0	0	4	5	8	5	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	0	0	4	5	8	5	0	0
Working Capital Days	-323	-278	-48	31	120	299	78	67	160	172	11	548
ROCE %	4%	4%	3%	4%	13%	12%	11%	10%	9%	10%	13%	10%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	51.20%	51.20%	51.36%	51.46%	51.46%	51.46%	51.46%	51.46%	51.46%	51.46%	51.46%	51.46%
	11.80%	12.04%	12.27%	12.34%	12.39%	11.65%	11.57%	11.53%	11.21%	10.89%	10.65%	10.56%
	5.28%	5.32%	4.95%	4.97%	5.04%	5.88%	5.95%	6.09%	6.42%	6.80%	7.12%	7.30%
	31.72%	31.43%	31.41%	31.22%	31.11%	31.01%	31.01%	30.90%	30.92%	30.82%	30.75%	30.69%
No. of Shareholders	68,185	65,286	73,437	66,687	63,633	60,734	61,275	60,774	65,300	65,695	64,338	69,354

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	43.77%	44.32%	49.03%	49.91%	49.95%	51.09%	51.46%	51.46%	51.46%
	15.47%	15.97%	14.43%	15.66%	14.39%	12.06%	12.34%	11.53%	10.56%
	6.02%	5.11%	2.13%	2.42%	3.67%	5.17%	4.97%	6.09%	7.30%
	34.73%	34.60%	34.41%	32.01%	31.99%	31.68%	31.22%	30.90%	30.69%
No. of Shareholders	45,943	46,647	43,588	51,337	59,483	62,749	66,687	60,774	69,354

* 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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Bajaj Holdings & Investment Ltd

Bajaj Holdings & Investment Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports