Bajaj Finance Ltd

Bajaj Finance Ltd

₹ 7,342 0.64%
14 Jun - close price
About

Bajaj Finance is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME and commercial customers with a significant presence in urban and rural India. It also accepts public and corporate deposits and offers variety of financial services products to its customers.(Source : 202003 Annual Report Page No:124)

Key Points

Amongst Largest NBFCs in India [1]
Bajaj Finance (BFL) started its journey in the year 1987 as a vehicle financing company and now is one of the largest and most diversified NBFCs in India.

  • Market Cap 4,54,439 Cr.
  • Current Price 7,342
  • High / Low 8,192 / 6,188
  • Stock P/E 31.4
  • Book Value 1,239
  • Dividend Yield 0.49 %
  • ROCE 11.9 %
  • ROE 22.0 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 29.3% CAGR over last 5 years

Cons

  • Stock is trading at 5.93 times its book value

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 6,851 6,742 7,731 8,537 8,626 9,284 9,970 10,787 11,364 12,498 13,378 14,164 14,926
Interest 2,196 2,254 2,398 2,535 2,568 2,645 2,972 3,351 3,592 4,103 4,537 4,868 5,217
2,747 3,035 3,236 3,040 2,691 3,026 3,129 3,308 3,382 3,694 3,929 4,229 4,420
Financing Profit 1,908 1,454 2,098 2,962 3,367 3,613 3,869 4,129 4,390 4,702 4,913 5,066 5,289
Financing Margin % 28% 22% 27% 35% 39% 39% 39% 38% 39% 38% 37% 36% 35%
4 1 1 2 3 2 4 2 5 6 4 5 9
Depreciation 90 89 95 97 104 111 121 119 134 156 159 176 193
Profit before tax 1,823 1,366 2,004 2,868 3,265 3,503 3,752 4,012 4,261 4,551 4,758 4,896 5,105
Tax % 26% 27% 26% 26% 26% 26% 26% 26% 26% 24% 25% 26% 25%
1,347 1,002 1,481 2,125 2,420 2,596 2,781 2,973 3,158 3,437 3,551 3,639 3,825
EPS in Rs 22.35 16.61 24.54 35.21 39.96 42.88 45.93 49.11 52.16 56.72 58.60 58.88 61.79
Gross NPA % 1.79% 2.96% 2.45% 1.73% 1.60% 1.25% 1.17% 1.14% 0.94% 0.87% 0.91% 0.95% 0.85%
Net NPA % 0.75% 1.46% 1.10% 0.78% 0.68% 0.51% 0.44% 0.41% 0.34% 0.31% 0.31% 0.37% 0.37%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 5,392 7,299 9,970 12,746 18,487 26,374 26,673 31,641 41,398 54,969
Interest 2,274 2,959 3,853 4,696 6,723 9,608 9,519 9,855 12,701 18,725
1,752 2,354 3,250 4,115 5,454 9,159 10,839 11,880 12,680 16,273
Financing Profit 1,367 1,986 2,867 3,935 6,310 7,608 6,314 9,906 16,018 19,972
Financing Margin % 25% 27% 29% 31% 34% 29% 24% 31% 39% 36%
26 35 22 10 13 9 3 -17 -4 21
Depreciation 36 56 71 102 144 295 325 385 485 683
Profit before tax 1,357 1,965 2,817 3,843 6,179 7,322 5,992 9,504 15,528 19,310
Tax % 34% 35% 35% 35% 35% 28% 26% 26% 26% 25%
898 1,279 1,836 2,496 3,995 5,264 4,420 7,028 11,508 14,451
EPS in Rs 17.90 23.74 33.40 43.19 69.12 87.48 73.35 116.09 190.07 233.46
Dividend Payout % 10% 10% 11% 9% 9% 11% 14% 17% 16% 15%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 27%
TTM: 33%
Compounded Profit Growth
10 Years: %
5 Years: 29%
3 Years: 48%
TTM: 25%
Stock Price CAGR
10 Years: 43%
5 Years: 16%
3 Years: 6%
1 Year: 2%
Return on Equity
10 Years: %
5 Years: 20%
3 Years: 21%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 50 54 109 115 115 120 120 121 121 124
Reserves 4,750 7,271 9,491 15,733 19,582 32,208 36,798 43,592 54,251 76,572
26,655 37,025 49,250 66,557 101,588 129,806 131,634 165,232 216,690 293,346
1,325 2,624 4,881 2,393 2,948 2,257 2,918 3,562 4,166 5,700
Total Liabilities 32,780 46,973 63,731 84,798 124,233 164,391 171,470 212,506 275,229 375,742
252 290 366 470 695 1,321 1,316 1,716 2,308 3,268
CWIP 0 0 0 0 0 0 51 34 80 25
Investments 326 1,029 4,070 3,139 8,599 17,544 18,397 12,246 22,752 30,881
32,201 45,654 59,295 81,189 114,939 145,526 151,707 198,510 250,089 341,568
Total Assets 32,780 46,973 63,731 84,798 124,233 164,391 171,470 212,506 275,229 375,742

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-7,064 -9,870 -10,439 -20,566 -29,062 -24,412 -807 -37,090 -42,140 -72,760
-360 -687 -3,047 1,075 -5,379 -8,758 -429 6,347 -10,365 -7,171
6,867 11,656 12,513 19,503 34,449 34,167 1,741 32,275 50,675 82,415
Net Cash Flow -557 1,100 -972 13 9 998 505 1,532 -1,831 2,484

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 21% 22% 20% 22% 20% 13% 17% 23% 22%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.03% 56.03% 56.03% 55.86% 55.86% 55.86% 55.91% 55.91% 55.87% 55.87% 54.78% 54.69%
24.03% 23.64% 22.85% 21.41% 19.98% 20.49% 19.87% 19.16% 20.09% 20.41% 20.92% 20.55%
9.33% 9.73% 10.11% 11.22% 12.03% 12.09% 12.37% 12.92% 12.83% 13.05% 14.01% 14.33%
0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
10.40% 10.42% 10.91% 11.15% 11.84% 11.26% 11.60% 11.75% 10.99% 10.50% 10.17% 10.19%
0.21% 0.17% 0.10% 0.36% 0.29% 0.22% 0.18% 0.17% 0.13% 0.10% 0.05% 0.16%
No. of Shareholders 4,88,7635,25,2576,36,9317,18,6388,68,2717,67,7228,16,2928,90,7067,84,8837,26,5837,45,0407,99,199

* 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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