Bajaj Finance Ltd

Bajaj Finance is 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.

Pros:
Company is expected to give good quarter
Promoter's stake has increased
Cons:
Stock is trading at 9.35 times its book value
Company has low interest coverage ratio.

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 2,833 3,051 3,371 3,488 3,936 4,256 4,983 5,308 5,801
Interest 1,073 1,141 1,179 1,227 1,359 1,567 1,786 1,913 2,113
1,026 978 1,105 1,091 1,252 1,261 1,522 1,543 1,781
Financing Profit 733 932 1,088 1,170 1,325 1,427 1,674 1,852 1,907
Financing Margin % 26% 31% 32% 34% 34% 34% 34% 35% 33%
Other Income 1 15 3 4 2 40 2 1 7
Depreciation 22 24 27 29 29 33 41 41 63
Profit before tax 713 923 1,064 1,144 1,297 1,435 1,636 1,812 1,851
Tax % 35% 35% 35% 35% 36% 36% 35% 35% 35%
Net Profit 461 598 690 748 836 923 1,060 1,176 1,195
Gross NPA % 0.00% 0.00% 1.63% 1.41% 1.39% 1.49% 1.55% 0.00% 1.60%
Net NPA % 0.00% 0.00% 0.57% 0.43% 0.44% 0.53% 0.62% 0.63% 0.64%
Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 5,392 7,299 9,970 12,746 18,485 20,348
Interest 2,274 2,959 3,853 4,696 6,723 7,380
1,752 2,354 3,250 4,115 5,456 6,107
Financing Profit 1,367 1,986 2,867 3,935 6,307 6,861
Financing Margin % 25% 27% 29% 31% 34% 34%
Other Income 26 35 22 10 17 51
Depreciation 36 56 71 102 144 178
Profit before tax 1,357 1,965 2,817 3,843 6,179 6,733
Tax % 34% 35% 35% 35% 35%
Net Profit 898 1,279 1,836 2,496 3,995 4,354
EPS in Rs 17.59 23.37 33.58 43.40 69.26
Dividend Payout % 10% 10% 11% 9% 9%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:36.31%
TTM:46.96%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:46.16%
TTM:51.65%
Return on Equity
10 Years:%
5 Years:%
3 Years:21.37%
Last Year:22.47%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
50 54 109 115 115
Reserves 4,750 7,271 9,491 15,733 19,582
Borrowings 26,655 37,025 49,250 66,557 101,588
1,338 2,639 4,900 2,393 2,948
Total Liabilities 32,792 46,988 63,750 84,798 124,232
252 290 366 470 695
CWIP 0 0 0 0 0
Investments 326 1,029 4,070 3,139 8,599
32,214 45,669 59,314 81,189 114,939
Total Assets 32,792 46,988 63,750 84,798 124,232

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-7,064 -9,870 -10,439 -20,566 -29,147
-360 -687 -3,047 1,075 -5,376
6,867 11,656 12,513 19,503 34,531
Net Cash Flow -557 1,100 -972 13 9

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 21% 22% 20% 22%

Credit Ratings