Bajaj Holdings & Investment Ltd

Bajaj Holdings & Investment Ltd

₹ 8,694 -1.29%
22 Feb 1:05 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 96,760 Cr.
  • Current Price 8,694
  • High / Low 8,991 / 5,770
  • Stock P/E 16.4
  • Book Value 4,391
  • Dividend Yield 1.42 %
  • ROCE 9.71 %
  • ROE 11.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 24.0%

Cons

  • The company has delivered a poor sales growth of 4.45% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 10.8% over last 3 years.
  • Earnings include an other income of Rs.5,783 Cr.

* 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

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
100 92 98 147 96 89 91 188 98 87 104 225 108
27 34 28 25 31 33 37 37 37 32 36 33 36
Operating Profit 74 58 69 122 64 57 54 151 62 55 68 192 72
OPM % 73% 63% 71% 83% 67% 64% 60% 81% 63% 63% 66% 85% 67%
1,111 933 741 1,131 1,004 1,074 938 1,214 1,252 1,326 1,375 1,479 1,602
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 1,175 982 801 1,244 1,059 1,122 984 1,356 1,305 1,368 1,434 1,662 1,665
Tax % 2% 3% 3% 4% 2% 1% 1% 1% 1% 1% 1% 4% 1%
1,151 950 780 1,198 1,042 1,106 970 1,336 1,287 1,353 1,416 1,588 1,645
EPS in Rs 103.29 85.27 69.96 101.67 93.46 99.32 87.10 111.67 115.52 121.55 127.19 133.98 147.76
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
295 337 423 524 470 842 420 431 435 457 484 522 524
12 15 23 40 42 215 65 85 134 106 117 142 137
Operating Profit 284 322 400 484 429 628 355 347 301 352 367 380 387
OPM % 96% 95% 94% 92% 91% 75% 85% 80% 69% 77% 76% 73% 74%
-8 3 5 35 7 8 2,390 2,827 3,058 3,451 3,896 4,673 5,783
Interest 0 0 0 0 0 0 0 0 13 4 3 7 7
Depreciation 0 2 5 6 5 5 5 4 33 34 34 34 34
Profit before tax 275 322 400 513 430 630 2,739 3,170 3,314 3,766 4,226 5,012 6,129
Tax % 28% 21% 20% 19% 21% 21% 3% 4% 7% 3% 2% 1%
1,679 1,856 1,988 2,029 2,265 2,473 2,655 3,048 3,080 3,654 4,126 4,946 6,002
EPS in Rs 150.88 166.80 178.59 182.33 203.54 222.22 238.54 273.90 268.84 327.95 364.41 435.83 530.48
Dividend Payout % 17% 15% 17% 19% 16% 15% 17% 12% 15% 12% 32% 28%
Compounded Sales Growth
10 Years: 4%
5 Years: 4%
3 Years: 6%
TTM: 12%
Compounded Profit Growth
10 Years: 10%
5 Years: 13%
3 Years: 17%
TTM: 28%
Stock Price CAGR
10 Years: 25%
5 Years: 23%
3 Years: 35%
1 Year: 46%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 11%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 8,569 10,234 11,888 13,282 15,182 17,707 25,090 26,841 27,652 37,056 42,731 44,071 48,758
0 0 0 0 0 0 0 0 168 136 114 93 78
455 430 449 500 178 71 68 56 4,797 8,186 10,632 8,913 12,634
Total Liabilities 9,135 10,775 12,448 13,893 15,472 17,889 25,269 27,008 32,729 45,490 53,588 53,188 61,581
384 532 532 544 544 222 215 193 374 342 310 278 261
CWIP 160 0 0 0 0 0 0 0 0 0 0 0 0
Investments 7,706 9,577 11,325 13,078 13,276 17,364 24,575 26,257 32,068 44,914 52,964 52,555 59,613
885 666 592 271 1,651 302 478 558 287 234 314 355 1,708
Total Assets 9,135 10,775 12,448 13,893 15,472 17,889 25,269 27,008 32,729 45,490 53,588 53,188 61,581

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
421 473 872 796 1,147 -923 1,631 628 1,920 272 1,610 1,728
78 -369 -519 -464 1,019 -372 -1,123 -163 -800 -308 -151 -137
-455 -332 -326 -391 -761 -110 -434 -536 -1,028 -37 -1,460 -1,587
Net Cash Flow 45 -228 27 -59 1,406 -1,406 74 -72 92 -73 -1 4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 1 0 0 0 0 0 0 4 5 8 5
Inventory Days
Days Payable
Cash Conversion Cycle 0 1 0 0 0 0 0 0 4 5 8 5
Working Capital Days -480 -427 -323 -278 -48 31 120 299 78 67 160 172
ROCE % 4% 3% 4% 4% 3% 4% 13% 12% 11% 10% 9% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
49.95% 49.95% 50.07% 50.48% 51.09% 51.20% 51.20% 51.36% 51.46% 51.46% 51.46% 51.46%
14.39% 13.68% 13.31% 13.02% 12.06% 11.80% 12.04% 12.27% 12.34% 12.39% 11.65% 11.57%
3.67% 4.29% 4.64% 4.73% 5.17% 5.28% 5.32% 4.95% 4.97% 5.04% 5.88% 5.95%
31.99% 32.08% 31.98% 31.77% 31.68% 31.72% 31.43% 31.41% 31.22% 31.11% 31.01% 31.01%
No. of Shareholders 59,48359,50963,81564,33162,74968,18565,28673,43766,68763,63360,73461,275

* 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.

Click on the line-items to see the names of individual entities.

Documents