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Bajaj Finance

BAJFINANCE NSE
₹994.00 +24.00 (+2.47%)
P/E
28.53
View as Markdown
MCP
Close 4 Nov 2026 ₹994.00 −47.90 −4.60% 1Y
Start ₹1,041.90

Key Fundamentals

LargecapFinanceFinancial Services

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

Debt to Equity
4.08
EPS (TTM)
₹34.84
Book Value
₹197.85
Market Cap
—
P/E (TTM)
28.53
P/B
5.02
ROE
18.20%
Dividend Yield
0.62%
52W High
₹1,176.40
52W Low
₹787.90
Day Range
₹962.30 – ₹994.00
Volume
1,44,16,253
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Finance › Non Banking Financial Company (NBFC)

Bajaj Finance peer comparison
Bajaj Finance (this company)
₹994.0028.53₹6,11,015 Cr5.020.62%18.20%—₹90,331 Cr₹22,067 Cr
Shriram Finance
₹908.7515.19₹2,13,704 Cr1.920.73%16.40%—₹51,877 Cr₹12,688 Cr
Cholamandalam Investment
₹1,658.0024.45₹1,42,243 Cr4.100.12%19.40%—₹32,663 Cr₹5,751 Cr
Tata Capital
₹337.7526.24₹1,41,036 Cr2.930.17%12.40%—₹32,695 Cr₹5,478 Cr
Muthoot Finance
₹2,709.809.57₹1,04,354 Cr2.481.19%30.90%—₹33,431 Cr₹11,457 Cr
L&T Finance
₹263.7020.75₹63,912 Cr2.261.09%11.20%—₹18,898 Cr₹3,198 Cr
SBI Cards
₹553.0023.14₹52,160 Cr3.060.47%14.70%—₹20,063 Cr₹2,275 Cr
Median 7 companies₹908.7523.14₹1,41,036 Cr2.930.62%16.40%—₹32,695 Cr₹5,751 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.

Tapetide Score

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

Overall score

48 Average

Data confidence 94/100

Category scores

Quality
43
Weak
Returns, margins, earnings quality 22% weight
Valuation
44
Weak
Cheap vs sector & own history 24% weight
Growth
65
Good
Sales & profit trajectory 9% weight
Financial Health
48
Average
Solvency, leverage, coverage 9% weight
Momentum
50
Average
Trend strength, vol-adjusted 12% weight
Ownership
50
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

3
  • Company has delivered good profit growth of 34.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.6%
  • Company's median sales growth is 29.4% of last 10 years

Weaknesses

3
  • Stock is trading at 4.61 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish5410
OscillatorsBearish342
Moving AveragesStrong Bullish208

Key readings

RSI (14)
57.76
Neutral
MACD (12,26,9)
−9.60
Bullish
SMA (50)
997.41
Bearish
SMA (200)
972.58
Bullish

As of

Analyst Rating

Based on 34 analysts
BUY79%

27 of 34 analysts rate Buy, 3 Hold, 4 Sell.

As of

BUY
27
79%
HOLD
3
9%
SELL
4
12%

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+27.36%
5Y+25.18%
3Y+25.57%
1Y+19.11%
TTM+19.10%

Net profit

Net profit growth by window
10Y+31.20%
5Y+34.33%
3Y+18.88%
1Y+15.22%
TTM+18.85%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹9,970 Cr
Mar 2018₹12,746 Cr
Mar 2019₹18,487 Cr
Mar 2020₹26,375 Cr
Mar 2021₹26,673 Cr
Mar 2022₹31,633 Cr
Mar 2023₹41,411 Cr
Mar 2024₹54,972 Cr
Mar 2025₹68,832 Cr
Mar 2026₹81,985 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,836 Cr
Mar 2018₹2,496 Cr
Mar 2019₹3,995 Cr
Mar 2020₹5,264 Cr
Mar 2021₹4,420 Cr
Mar 2022₹7,028 Cr
Mar 2023₹11,508 Cr
Mar 2024₹14,451 Cr
Mar 2025₹16,779 Cr
Mar 2026₹19,332 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EPS
₹10.69 +6.2% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Bajaj Finance Ltd trades at ₹959.4 as of 2026-11-02 with a market cap of ₹5,88,819.63 crore, a trailing P/E of 27.54 and a P/B of 4.85. The company has delivered compounded profit growth of 34% over five years and compounded sales growth of 27% over ten years, though the stock has returned -15% over the past one year and carries a low interest coverage ratio.

Bull Case 8
  • Compounded profit growth of 34% CAGR over the last five years indicates strong and sustained earnings expansion
  • Ten-year compounded sales growth of 27% reflects a long track record of robust top-line scaling
  • Median sales growth of 29.4% over the last ten years underscores consistent revenue momentum across cycles
  • Return on equity has averaged 20% over three and five-year periods, demonstrating efficient capital deployment
  • TTM profit growth of 20% shows continued earnings momentum in the most recent period
  • Healthy dividend payout ratio of 18.6% signals management willingness to return capital to shareholders
  • The stock is trading roughly 18.5% below its 52-week high of ₹1,176.4, which may offer a more favourable entry valuation compared to recent peaks
  • Ten-year stock CAGR of 24% reflects significant long-term wealth creation for shareholders over the past decade
Bear Case 8
  • The stock trades at 4.85 times book value, well above typical NBFC peers, indicating a premium valuation that leaves limited room for disappointment
  • Low interest coverage ratio suggests that a meaningful portion of earnings is absorbed by interest costs, raising vulnerability in a rising-rate environment
  • Possible capitalisation of interest costs could mean reported profits overstate true operating profitability
  • One-year stock return of -15% signals sustained negative price momentum and potential investor re-rating concerns
  • TTM sales growth has moderated to 19% compared to the five-year CAGR of 25%, indicating a deceleration in top-line expansion
  • ROCE of 10.71% as of 2026-11-02 is modest relative to the ROE of 16.53%, highlighting the leverage-driven nature of returns
  • Five-year stock CAGR of only 4% contrasts sharply with the 34% profit CAGR over the same period, suggesting significant P/E multiple compression
  • Dividend yield of just 0.64% provides limited income cushion for investors during periods of capital depreciation

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

AI News Digest

9h ago

TL;DR: Bajaj Finance delivered a strong Q2 FY27 with 29% profit growth, 26% AUM expansion, and improving credit cost ratios, backed by robust capital adequacy at 20.33%. Key risks include a sharp spike in gold loan delinquencies from discontinued short-tenor schemes, expected NIM compression, and rising funding costs following the RBI's rate hike. The gold loan stress appears transient per management, but the rapid scale-up warrants monitoring. The trend is broadly positive on earnings and asset quality, though margin headwinds and the gold loan book's seasoning will be the key variables to watch over the next two quarters.

Headwinds 5
  • Gold loan delinquencies spike Oct 21

    First-bucket overdue gold loans jumped from 0.6% to 3.5% in Q2 FY27; Stage 2 gold-loan assets rose by ₹1,047 crore during the quarter, linked to discontinued short-tenor schemes.

  • Over-leveraged borrower risk Oct 19

    MD Rajeev Jain plans to halve new loans to customers with 3+ lending relationships to 3.5% by March 2027, down from 14% earlier and currently at 7%.

  • NIM compression expected Oct 18

    Net interest margin expected to decline ~10 bps sequentially to around 9.4% in Q2; management guided 10-15 bps moderation going forward due to rising borrowing costs.

Positives 7
  • Q2 profit jumps 29% YoY Oct 18

    Consolidated net profit rose 28.7% YoY to ₹6,367 crore; PBT grew 29% to ₹8,537 crore, and excluding ₹337 crore macro provision, PBT grew 34% to ₹8,874 crore.

  • AUM surges 26% to ₹5.85L crore Oct 18

    AUM grew 26% YoY to ₹5.85 lakh crore, adding ₹37,680 crore in Q2 alone; customer franchise expanded 16% to 128.85 million with 4.42 million added in the quarter.

  • Credit costs improve sharply Oct 18

    Annualised loan loss ratio fell to 1.56% from 1.88% YoY; excluding ₹337 crore provision, it dropped to 1.32%. GNPA fell to 1.06% from 1.24% YoY, NNPA to 0.42%.

Neutral 5
  • EGM approves warrants and QIP Nov 2

    Bajaj Finance held an EGM on Nov 2, 2026 with 663 members to approve preferential warrants for Bajaj Finserv and a QIP fundraise; e-voting results pending.

  • ₹2,120 crore NCD allotment Oct 21

    Allotted 2,12,000 secured zero-coupon NCDs worth ₹2,120 crore on private placement basis with a five-year tenure.

  • CISO re-appointed for 3 years Oct 19

    Prashant Verma re-appointed as Chief Information Security Officer effective Feb 1, 2027 for a three-year term, subject to regulatory approvals.

Quarterly Results

₹ Cr
BAJFINANCE quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue
13,382
14,164
14,926
16,099
17,090
18,035
18,294
19,524
19,990
21,013
21,606
23,165
24,546
Expenses
3,931
4,229
4,420
4,956
5,338
5,691
5,865
5,992
6,119
7,737
6,553
6,793
7,120
Financing Profit
4,914
5,066
5,289
5,460
5,604
5,958
5,879
6,614
6,861
5,937
7,654
8,430
8,825
Fin. Margin %
37%
36%
35%
34%
33%
33%
32%
34%
34%
28%
35%
36%
36%
Other Income
3.49
5
5.77
3.64
7
23.21
21
5
1.86
−262
11
6
29.45
Interest
4,537
4,868
5,217
5,684
6,149
6,386
6,551
6,918
7,011
7,339
7,398
7,942
8,602
Depreciation
159
176
193
200
210
219
252
251
258
244
256
288
321
PBT
4,758
4,894
5,102
5,263
5,401
5,762
5,647
6,368
6,605
5,431
7,410
8,149
8,533
Tax %
25%
26%
25%
26%
26%
25%
20%
25%
25%
25%
25%
25%
25%
Net Profit
3,551
3,639
3,825
3,912
4,014
4,308
4,546
4,765
4,948
4,066
5,553
6,081
6,367
EPS (₹)
5.86
5.89
6.18
6.32
6.46
6.86
7.21
7.56
7.84
6.39
8.78
9.61
10.06
Gross NPA %
0.91%
0.95%
0.85%
0.86%
1.06%
1.12%
0.96%
1.03%
1.24%
1.21%
1.01%
0.96%
1.06%
Net NPA %
0.31%
0.37%
0.37%
0.38%
0.46%
0.48%
0.44%
0.5%
0.6%
0.47%
0.41%
0.39%
0.42%

Profit & Loss

₹ Cr
BAJFINANCE profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
5,392
7,299
9,970
12,746
18,487
26,375
26,673
31,633
41,411
54,972
68,832
81,985
90,331
Expenses
1,752
2,354
3,250
4,115
5,454
9,159
10,839
11,880
12,693
16,099
20,878
25,998
28,203
Financing Profit
1,367
1,986
2,867
3,935
6,310
7,609
6,314
9,905
16,018
19,987
22,963
27,088
30,847
Fin. Margin %
25%
27%
29%
31%
34%
29%
24%
31%
39%
36%
33%
33%
34%
Other Income
26
35
22
10
13
8
3
−17
−5
6
−2
−263
−212
Interest
2,274
2,959
3,853
4,696
6,723
9,608
9,519
9,848
12,701
18,886
24,991
28,899
31,281
Depreciation
36
56
71
102
144
295
325
385
485
683
881
1,009
1,108
PBT
1,357
1,965
2,817
3,843
6,179
7,322
5,992
9,504
15,528
19,310
22,080
25,817
29,527
Tax %
34%
35%
35%
35%
35%
28%
26%
26%
26%
25%
24%
25%
—
Net Profit
898
1,279
1,836
2,496
3,995
5,264
4,420
7,028
11,508
14,451
16,779
19,332
22,066
EPS (₹)
1.79
2.37
3.34
4.32
6.91
8.75
7.33
11.61
19.01
23.35
26.77
30.56
34.84
Div. Payout %
10%
10%
11%
9%
9%
11%
14%
17%
16%
15%
21%
20%
—

Balance Sheet

₹ Cr
BAJFINANCE balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
50
54
109
115
115
120
120
121
121
124
124
622
622
Reserves
4,750
7,373
9,491
15,733
19,582
32,208
36,798
43,592
54,251
76,572
96,569
1,13,377
1,22,557
Borrowing
26,655
37,025
49,250
66,557
1,01,588
1,29,806
1,31,634
1,65,232
2,16,690
2,93,346
3,61,249
4,35,112
5,01,982
Other Liabilities
1,325
2,522
4,881
2,393
2,948
2,257
2,918
3,561
4,164
5,700
8,185
10,841
14,281
Total Liabilities
32,780
46,973
63,731
84,798
1,24,233
1,64,391
1,71,470
2,12,505
2,75,226
3,75,742
4,66,127
5,59,952
6,39,443
Fixed Assets
252
290
366
470
695
1,321
1,316
1,716
2,308
3,250
3,780
3,947
4,422
CWIP
0
0
0
0
0
0
51
34
80
43
41
119
76
Investments
326
1,029
4,070
3,139
8,599
17,544
18,397
12,246
22,752
30,881
34,441
30,578
31,744
Other Assets
32,201
45,654
59,295
81,189
1,14,939
1,45,526
1,51,707
1,98,509
2,50,087
3,41,568
4,27,865
5,25,309
6,03,201
Total Assets
32,780
46,973
63,731
84,798
1,24,233
1,64,391
1,71,470
2,12,505
2,75,226
3,75,742
4,66,127
5,59,952
6,39,443

Cash Flow

₹ Cr
BAJFINANCE cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−7,064
−9,870
−10,439
−20,566
−29,062
−24,412
−807
−37,029
−42,112
−72,760
−67,792
−65,790
Investing
−360
−687
−3,047
1,075
−5,379
−8,758
−429
6,347
−10,394
−7,171
−2,765
−3,389
Financing
6,867
11,656
12,513
19,503
34,449
34,167
1,741
32,240
50,675
82,415
70,165
67,433
Net Cash Flow
−557
1,100
−972
13
9
998
505
1,558
−1,831
2,484
−392
−1,746
Free Cash Flow
−7,129
−9,964
−10,587
−20,700
−29,428
−24,912
−1,105
−37,644
−42,970
−73,759
−68,837
−66,686

Ratios

BAJFINANCE financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
19%
21%
22%
20%
22%
20%
13%
17%
23%
22%
19%
18%

Insights

Beta

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

Log in to view Bajaj Finance insights

56 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 54.67%
  • FIIs 19.79%
  • DIIs 17.05%
  • Public 6.55%
  • Others 1.93%

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 Finance

What does Bajaj Finance Ltd do?
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.
Where is Bajaj Finance Ltd (BAJFINANCE) listed?
Bajaj Finance Ltd trades as BAJFINANCE on the NSE and under code 500034 on the BSE.
Which sector does Bajaj Finance Ltd belong to?
Bajaj Finance Ltd is classified under the Financial Services sector, in the Finance industry.
What is the PE ratio of Bajaj Finance Ltd?
Bajaj Finance Ltd trades at a PE ratio of 28.53 as of 4 Nov 2026, on earnings per share of ₹34.84, against a book value of ₹197.85 per share.
What is the 52-week high and low of Bajaj Finance Ltd?
Over the last 52 weeks Bajaj Finance Ltd has traded between ₹787.9 and ₹1,176.4 as of 4 Nov 2026.
Does Bajaj Finance Ltd pay dividends?
Bajaj Finance Ltd has a dividend yield of 0.62%.
What is the Return on Equity (ROE) of Bajaj Finance Ltd?
Bajaj Finance Ltd reported a return on equity of 18.20%. Its debt-to-equity ratio is 4.08.

Company Information

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.

Website bajajfinserv.in/finance
CEO Mr. Rajeev A. Jain
Employees 64,092
Listed 1 Apr 2003
Face Value ₹1

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