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Bajaj Finserv

BAJAJFINSV NSE
₹1,756.50 +38.40 (+2.24%)
P/E
26.38
View as Markdown
MCP
Close 4 Nov 2026 ₹1,756.50 −306.70 −14.9% 1Y
Start ₹2,063.20

Key Fundamentals

LargecapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
10.60%
Debt to Equity
4.52
EPS (TTM)
₹66.59
Book Value
₹524.17
Market Cap
—
P/E (TTM)
26.38
P/B
3.35
ROE
13.20%
Dividend Yield
0.09%
EBITDA
₹56,769 Cr
52W High
₹2,126.80
52W Low
₹1,597.00
Day Range
₹1,704.30 – ₹1,793.60
Volume
17,51,744

Peer Comparison

Financial Services › Finance › Holding Company

Bajaj Finserv peer comparison
Bajaj Finserv (this company)
₹1,756.5027.70₹2,81,114 Cr3.350.09%13.20%10.60%₹1,63,654 Cr₹20,637 Cr
Bajaj Holdings & Investment
₹10,433.0013.11₹1,15,968 Cr1.590.63%11.90%11.00%₹1,139 Cr₹8,993 Cr
Choice International
₹745.9571.45₹16,587 Cr9.420.00%16.10%17.90%₹1,194 Cr₹251 Cr
Edelweiss Financial Services
₹121.9419.14₹11,783 Cr2.501.22%14.20%14.10%₹10,508 Cr₹711 Cr
JM Financial
₹113.9510.48₹11,024 Cr1.022.90%11.90%11.60%₹4,180 Cr₹1,111 Cr
Rane Holdings
₹1,475.8024.95₹2,162 Cr1.833.14%7.00%9.52%₹6,129 Cr₹127 Cr
Median 6 companies₹1,110.8822.05₹14,185 Cr2.170.93%12.55%11.30%₹5,155 Cr₹911 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

44 Weak

Data confidence 100/100

Category scores

Quality
53
Average
Returns, margins, earnings quality 22% weight
Valuation
39
Weak
Cheap vs sector & own history 24% weight
Growth
53
Average
Sales & profit trajectory 9% weight
Financial Health
26
Poor
Solvency, leverage, coverage 9% weight
Momentum
33
Poor
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company's median sales growth is 20.2% of last 10 years

Weaknesses

3
  • Stock is trading at 3.35 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 13.8% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallNeutral757
OscillatorsBullish153
Moving AveragesStrong Bearish604

Key readings

RSI (14)
54.90
Neutral
MACD (12,26,9)
−27.41
Bullish
SMA (50)
1,812.40
Bearish
SMA (200)
1,851.22
Bearish

As of

Analyst Rating

Based on 13 analysts
BUY85%

11 of 13 analysts rate Buy, 0 Hold, 2 Sell.

As of

BUY
11
85%
HOLD
0
0%
SELL
2
15%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+22.04%
5Y+19.96%
3Y+22.41%
1Y+13.23%
TTM+16.09%

Net profit

Net profit growth by window
10Y+21.63%
5Y+21.70%
3Y+17.23%
1Y+12.02%
TTM+13.51%

Operating cash flow

Operating cash flow growth by window
10YOutflow widened by ₹45,506 Cr
5YTurned negative
3YOutflow widened by ₹15,821 Cr
1YOutflow narrowed by ₹6,449 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+5.11 pp
5Y+5.51 pp
3Y+1.54 pp
1Y+0.68 pp
TTM+0.58 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹24,507 Cr
Mar 2018₹32,862 Cr
Mar 2019₹42,605 Cr
Mar 2020₹54,351 Cr
Mar 2021₹60,592 Cr
Mar 2022₹68,406 Cr
Mar 2023₹82,072 Cr
Mar 2024₹1,10,382 Cr
Mar 2025₹1,32,944 Cr
Mar 2026₹1,50,530 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹3,450 Cr
Mar 2018₹4,176 Cr
Mar 2019₹5,374 Cr
Mar 2020₹5,994 Cr
Mar 2021₹7,367 Cr
Mar 2022₹8,314 Cr
Mar 2023₹12,210 Cr
Mar 2024₹15,595 Cr
Mar 2025₹17,558 Cr
Mar 2026₹19,669 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹34,092 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 2.0× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

Bajaj Finserv Ltd trades at ₹1,718.1 as of 2026-11-03 with a market cap of ₹2,75,074 crore, a trailing PE of 27.09 and ROE of 13.95%. The company has delivered strong long-term revenue compounding of 22% over 10 years but recent profit growth has moderated to 8% TTM, while a debt-to-equity ratio of 5.52 reflects the leverage-intensive nature of its financial services operations.

Bull Case 7
  • Compounded sales growth of 22% over both 3-year and 10-year periods demonstrates consistent top-line expansion across economic cycles
  • Median sales growth of 20.2% over the last 10 years underscores sustained revenue momentum in the financial services segment
  • Compounded profit growth of 18% over 10 years and 17% over 5 years shows durable long-term earnings compounding
  • Stock price CAGR of 19% over 10 years indicates substantial long-term wealth creation for holders over that horizon
  • TTM revenue growth of 15% continues to outpace nominal GDP growth, suggesting the company is still gaining market share
  • ROE has remained steady at 14% across the 3-year, 5-year and 10-year periods, reflecting consistent return generation on equity
  • At a PE of 27.09, the valuation is moderate for a diversified financial services holding company with double-digit long-term profit compounding
Bear Case 8
  • TTM profit growth has decelerated sharply to 8% from the 5-year CAGR of 17%, signalling a meaningful earnings slowdown
  • Debt-to-equity ratio of 5.52 is elevated, and the company has a low interest coverage ratio, raising concerns about financial leverage risk in a rising-rate environment
  • ROE of 13.95% (last year 13%) is modest for a financial services conglomerate and has not expanded beyond the 14% band over 3, 5 or 10 years
  • Stock price CAGR of -14% over 1 year and flat 0% over 5 years shows the stock has delivered poor medium-term returns despite underlying business growth
  • Price-to-book ratio of 3.53 (noted at 3.60 times book value) is rich for a company generating only ~14% ROE, implying a premium that demands faster growth to justify
  • Dividend yield of just 0.09% provides negligible income return, leaving total returns entirely dependent on capital appreciation
  • The gap between revenue growth (15% TTM) and profit growth (8% TTM) suggests margin compression or rising operating costs that are eroding bottom-line conversion
  • 3-year stock CAGR of just 2% despite 16% profit compounding over the same period indicates the market has been de-rating the stock

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Bajaj Finserv is showing strong momentum in its insurance verticals, with life insurance new business premiums growing 33% YoY in September 2026. The incorporation of a reinsurance subsidiary signals strategic diversification, though it remains subject to regulatory approvals. No material headwinds surfaced in the latest news cycle. The near-term trend appears constructive, with insurance growth sustaining and new business lines taking shape.

Positives 1
  • Insurance premiums surge in Sep Oct 16

    Life insurance new business premium jumped 33% YoY to ₹1,830.86 crore in September 2026, while general insurance gross premium rose 6.5% to ₹2,363 crore.

Neutral 1
  • Reinsurance subsidiary incorporated Oct 17

    Bajaj Finserv incorporated Bajaj Reinsurance Limited as a wholly owned subsidiary on October 17, 2026, to carry on reinsurance business subject to regulatory approvals.

Quarterly Results

₹ Cr
BAJAJFINSV quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
26,023
29,038
32,041
31,480
33,704
32,042
36,433
35,288
37,215
39,708
38,494
42,037
43,416
Expenses
16,073
18,601
21,108
19,655
21,420
19,669
23,705
20,973
23,164
25,842
23,983
24,896
25,906
Operating Profit
9,950
10,438
10,933
11,825
12,283
12,373
12,728
14,315
14,050
13,866
14,511
17,141
17,509
OPM %
38%
36%
34%
38%
36%
39%
35%
41%
38%
35%
38%
41%
40%
Other Income
0
0
1.09
0.21
0
0
1.07
13
0
−378
25
5
0
Interest
4,449
4,777
5,154
5,592
6,046
6,276
6,396
6,807
6,901
7,232
7,291
7,834
8,483
Depreciation
209
232
257
267
275
288
339
317
327
330
317
380
423
PBT
5,292
5,429
5,523
5,966
5,963
5,808
5,993
7,204
6,822
5,925
6,928
8,932
8,604
Tax %
29%
26%
26%
29%
30%
24%
21%
26%
30%
26%
25%
30%
31%
Net Profit
3,756
4,045
4,085
4,209
4,180
4,412
4,756
5,329
4,746
4,368
5,226
6,297
5,952
EPS (₹)
12.09
13.52
13.28
13.39
13.07
13.97
15.14
17.46
14.04
13.95
15.86
19.57
17.21
YoY Sales growth
25
33
36
35
30
10
14
12
10
24
6
19
17

Profit & Loss

₹ Cr
BAJAJFINSV profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
11,335
20,533
24,507
32,862
42,605
54,351
60,592
68,406
82,072
1,10,382
1,32,944
1,50,530
1,63,654
Expenses
5,823
13,795
15,794
22,074
27,569
36,094
40,950
46,951
52,204
69,497
83,420
93,433
1,00,627
Operating Profit
5,511
6,739
8,713
10,788
15,037
18,258
19,641
21,455
29,868
40,886
49,524
57,098
63,027
OPM %
49%
33%
36%
33%
35%
34%
32%
31%
36%
37%
37%
38%
39%
Other Income
8
0
0
1
2
0
−7
8
1
−4
−18
−382
−344
Interest
2,230
2,877
3,716
4,531
6,657
9,500
9,274
9,629
12,380
18,607
24,587
28,541
30,840
Depreciation
38
58
73
160
226
457
498
563
678
900
1,170
1,291
1,449
PBT
3,251
3,804
4,925
6,099
8,155
8,302
9,862
11,271
16,811
21,375
23,748
26,883
30,394
Tax %
26%
27%
30%
32%
34%
28%
25%
26%
27%
27%
26%
27%
—
Net Profit
2,409
2,775
3,450
4,176
5,374
5,994
7,367
8,314
12,210
15,595
17,558
19,669
21,843
EPS (₹)
10.62
11.71
14.21
16.65
20.23
21.17
28.09
28.63
40.29
51.07
55.57
61.24
66.59
Div. Payout %
2%
1%
1%
1%
1%
2%
1%
1%
2%
2%
2%
2%
—
Sales growth
88
81
19
34
30
28
11
13
20
34
20
13
16

Balance Sheet

₹ Cr
BAJAJFINSV balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
80
80
80
80
80
80
80
80
159
159
160
160
160
Reserves
11,009
13,519
16,071
20,403
23,660
31,222
35,750
40,167
46,248
60,169
72,236
77,755
83,814
Borrowings
26,312
36,062
48,282
65,695
99,754
1,27,212
1,28,461
1,61,179
2,12,265
2,88,933
3,55,855
4,29,914
3,79,213
Other Liabilities
50,827
54,290
64,181
75,337
84,934
92,791
1,15,554
1,31,987
1,46,729
1,88,154
2,23,269
2,50,666
3,93,651
Total Liabilities
88,228
1,03,951
1,28,614
1,61,514
2,08,428
2,51,304
2,79,845
3,33,413
4,05,401
5,37,415
6,51,519
7,58,495
8,56,839
Fixed Assets
1,261
1,274
1,645
1,792
2,097
3,216
3,182
3,586
4,336
5,455
6,297
6,729
7,974
CWIP
3
11
4
28
66
45
129
113
191
220
314
321
281
Investments
51,367
53,698
62,658
69,428
81,679
91,821
1,13,654
1,19,222
1,36,176
1,70,127
1,90,130
1,94,414
2,11,098
Other Assets
35,598
48,969
64,306
90,266
1,24,587
1,56,223
1,62,879
2,10,493
2,64,698
3,61,613
4,54,778
5,57,031
6,37,486
Total Assets
88,228
1,03,951
1,28,614
1,61,514
2,08,428
2,51,304
2,79,845
3,33,413
4,05,401
5,37,415
6,51,519
7,58,495
8,56,839

Cash Flow

₹ Cr
BAJAJFINSV cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−10,731
−9,795
−10,922
−19,580
−27,076
−23,369
4,547
−33,670
−39,480
−65,502
−61,750
−55,301
Investing
3,709
−886
151
−922
−6,903
−9,948
−3,684
1,445
−13,945
−14,132
−7,987
−12,635
Financing
6,839
11,602
12,513
19,590
34,535
34,479
1,687
32,326
51,016
82,709
69,828
66,610
Net Cash Flow
−183
921
1,742
−911
555
1,162
2,551
101
−2,409
3,075
92
−1,326
Free Cash Flow
−10,731
−9,795
−10,922
−19,883
−27,646
−24,239
4,096
−34,420
−40,603
−66,811
−63,466
−56,619
CFO/EBITDA
−195
−145
−125
−162
−161
−113
34
−142
−117
−146
−111
−84

Ratios

BAJAJFINSV financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
17
12
19
19
19
18
17
16
15
20
23
23
Cash Conversion Cycle
17
12
19
19
19
18
17
16
15
20
23
23
Working Capital Days
−741
−341
−301
−750
−644
−417
−490
−493
−444
−406
−377
−364
ROCE %
15%
14%
14%
13%
13%
11%
10%
10%
11%
12%
11%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bajaj Finserv insights

61 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 58.65%
  • Others 12.62%
  • DIIs 11.10%
  • Public 9.46%
  • FIIs 8.16%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Bajaj Finserv

What does Bajaj Finserv Ltd do?
Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of…
Where is Bajaj Finserv Ltd (BAJAJFINSV) listed?
Bajaj Finserv Ltd trades as BAJAJFINSV on the NSE and under code 532978 on the BSE.
Which sector does Bajaj Finserv Ltd belong to?
Bajaj Finserv Ltd is classified under the Financial Services sector, in the Finance industry.
What is the PE ratio of Bajaj Finserv Ltd?
Bajaj Finserv Ltd trades at a PE ratio of 26.38 as of 4 Nov 2026, on earnings per share of ₹66.59, against a book value of ₹524.17 per share.
What is the 52-week high and low of Bajaj Finserv Ltd?
Over the last 52 weeks Bajaj Finserv Ltd has traded between ₹1,597 and ₹2,126.8 as of 4 Nov 2026.
Does Bajaj Finserv Ltd pay dividends?
Bajaj Finserv Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Bajaj Finserv Ltd?
Bajaj Finserv Ltd reported a return on equity of 13.20%. Its debt-to-equity ratio is 4.52.

Company Information

Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.

Website bajajfinserv.in
CEO Mr. Sanjivnayan Rahulkumar Bajaj
Employees 1,04,668
Listed 26 May 2008
Face Value ₹1

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