Bajaj Holdings & Investment Ltd

About

Bajaj Holdings & Investment in the business of Investment activity.

  • Market Cap 52,814 Cr.
  • Current Price 4,746
  • High / Low 5,121 / 2,213
  • Stock P/E 14.1
  • Book Value 3,340
  • Dividend Yield 1.90 %
  • ROCE 11.6 %
  • ROE 11.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of -0.56% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 11.28% for last 3 years.
  • Earnings include an other income of Rs.3600.97 Cr.
  • Dividend payout has been low at 12.98% of profits over last 3 years

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
129 110 83 79 118 87 110 90 116 100 92 98
18 15 37 34 28 32 40 23 22 27 34 28
Operating Profit 111 94 46 45 90 54 70 68 94 74 58 69
OPM % 86% 86% 56% 57% 76% 63% 64% 75% 81% 73% 63% 71%
Other Income 688 722 768 656 1,007 911 526 650 816 1,111 933 741
Interest 0 0 0 3 3 3 5 1 1 1 1 1
Depreciation 1 1 1 8 8 8 9 8 8 8 8 8
Profit before tax 798 815 813 690 1,086 954 583 708 901 1,175 982 801
Tax % 4% 4% 3% 3% 2% 2% 29% 4% 3% 2% 3% 3%
Net Profit 765 781 791 669 1,029 933 361 679 872 1,150 949 779
EPS in Rs 68.70 70.18 71.11 60.14 92.43 83.80 32.47 61.02 78.36 103.29 85.27 69.96

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
710 898 295 337 423 524 470 842 420 431 435 457 407
10 12 12 15 23 40 42 215 65 85 134 106 111
Operating Profit 700 886 284 322 400 484 429 628 355 347 301 352 295
OPM % 99% 99% 96% 95% 94% 92% 91% 75% 85% 80% 69% 77% 73%
Other Income 700 2 -8 3 5 35 7 8 2,390 2,827 3,058 3,451 3,601
Interest 0 0 0 0 0 0 0 0 0 0 13 4 4
Depreciation 0 0 0 2 5 6 5 5 5 4 33 34 34
Profit before tax 1,399 888 275 322 400 513 430 630 2,739 3,170 3,314 3,766 3,859
Tax % 3% 8% 28% 21% 20% 19% 21% 21% 3% 4% 7% 3%
Net Profit 1,363 2,323 1,679 1,856 1,988 2,029 2,265 2,473 2,655 3,048 2,992 3,650 3,749
EPS in Rs 128.50 208.71 150.88 166.80 178.59 182.33 203.54 222.22 238.54 273.90 268.84 327.95 336.88
Dividend Payout % 23% 17% 17% 15% 17% 19% 16% 15% 17% 12% 15% 12%
Compounded Sales Growth
10 Years:-7%
5 Years:-1%
3 Years:3%
TTM:0%
Compounded Profit Growth
10 Years:5%
5 Years:10%
3 Years:11%
TTM:25%
Stock Price CAGR
10 Years:21%
5 Years:18%
3 Years:23%
1 Year:102%
Return on Equity
10 Years:14%
5 Years:12%
3 Years:11%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
106 111 111 111 111 111 111 111 111 111 111 111
Reserves 5,390 7,340 8,569 10,234 11,888 13,282 15,182 17,707 25,090 26,841 27,652 37,056
Borrowings 0 0 0 0 0 0 0 0 0 0 168 136
463 489 455 430 449 500 178 71 68 56 4,797 8,186
Total Liabilities 5,960 7,940 9,135 10,775 12,448 13,893 15,472 17,889 25,269 27,008 32,729 45,490
245 373 384 532 532 544 544 222 215 193 374 342
CWIP 0 0 160 0 0 0 0 0 0 0 0 0
Investments 5,473 6,875 7,706 9,577 11,325 13,078 13,276 17,364 24,575 26,257 32,068 44,914
242 692 885 666 592 271 1,651 302 478 558 287 234
Total Assets 5,960 7,940 9,135 10,775 12,448 13,893 15,472 17,889 25,269 27,008 32,729 45,490

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
307 421 473 872 796 1,147 -923 1,631 628 1,920 272
4 78 -369 -519 -464 1,019 -372 -1,123 -163 -800 -308
-196 -455 -332 -326 -391 -761 -110 -434 -536 -1,028 -37
Net Cash Flow 116 45 -228 27 -59 1,406 -1,406 74 -72 92 -73

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 0 0 0 1 0 0 0 0 0 0 4 5
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 1 0 0 0 0 0 0 4 5
Working Capital Days -93 -174 -480 -427 -323 -278 -48 31 136 299 78 67
ROCE % 28% 14% 4% 3% 4% 4% 3% 4% 13% 12% 12% 12%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
45.87 46.41 49.03 49.56 49.56 49.56 49.91 49.91 49.94 49.95 49.95 49.95
14.64 14.58 14.43 14.52 14.41 14.69 15.66 15.54 15.07 14.52 14.39 13.68
4.95 4.59 2.13 1.89 2.69 2.51 2.42 2.50 2.79 3.27 3.67 4.29
34.54 34.42 34.41 34.03 33.34 33.24 32.01 32.05 32.20 32.25 31.99 32.08

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