MarketFriction

Bajaj Finserv Ltd

NSE BAJAJFINSV · BSE 532978 · Holding Company
₹1,732.60 +0.09%
NSE close2026-10-01
52 week range1,597.00 - 2,195.00
Market cap₹2,79,143 Cr.
P/E27.2
Nifty 50Nifty 100Nifty 200Nifty 500Nifty Financial Services No price band Delivery 73.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales26,02329,03832,04131,48033,70432,04236,43335,28837,40339,70838,49442,037
Expenses16,07318,60121,10819,65521,42019,66923,70520,97323,35225,84223,98324,896
Operating Profit9,95010,43810,93311,82512,28312,37312,72814,31514,05013,86614,51117,141
OPM %38%36%34%38%36%39%35%41%38%35%38%41%
Other Income02433310133-378255
Interest4,4494,7775,1545,5926,0466,2766,3966,8076,9017,2327,2917,834
Depreciation209232257267275288339317327330317380
Profit before tax5,2925,4315,5275,9685,9665,8126,0027,2046,8255,9266,9288,932
Tax %29%26%26%29%30%24%21%26%30%26%25%30%
Net Profit3,7564,0454,0854,2094,1804,4124,7565,3294,7464,3685,2266,297
EPS in Rs12.0913.5213.2813.3913.0713.9715.1417.4614.0413.9515.8619.57
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales20,53324,50732,86242,60554,35160,59268,40682,072110,382132,944150,530157,642
Expenses13,79515,79422,07427,56936,09440,95046,95152,20469,49783,42093,43398,074
Operating Profit6,7398,71310,78815,03718,25819,64121,45529,86840,88649,52457,09859,568
OPM %33%36%33%35%34%32%31%36%37%37%38%38%
Other Income00120-781-4-18-382-344
Interest2,8773,7164,5316,6579,5009,2749,62912,38018,60724,58728,54129,259
Depreciation58731602264574985636789001,1701,2911,354
Profit before tax3,8044,9256,0998,1558,3029,86211,27116,81121,37523,74826,88328,612
Tax %27%30%32%34%28%25%26%27%27%26%27%
Net Profit2,7753,4504,1765,3745,9947,3678,31412,21015,59517,55819,66920,637
EPS in Rs11.7114.2116.6520.2321.1728.0928.6340.2951.0755.5761.2463.42
Dividend Payout %1%1%1%1%2%1%1%2%2%2%2%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth22%20%22%15%
Compounded Profit Growth18%17%16%8%
Stock Price CAGR19%0%4%-13%
Return on Equity14%14%14%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8080808080808080159159160160
Reserves11,00913,51916,07120,40323,66031,22235,75040,16746,24860,16972,23677,755
Borrowings26,31236,06248,28265,69599,754127,212128,461161,179212,265288,933355,855429,914
Other Liabilities50,82754,29064,18175,33784,93492,791115,554131,987146,729188,154223,269250,666
Total Liabilities88,228103,951128,614161,514208,428251,304279,845333,413405,401537,415651,519758,495
Fixed Assets1,2611,2741,6451,7922,0973,2163,1823,5864,3365,4556,2976,729
CWIP3114286645129113191220314321
Investments51,36753,69862,65869,42881,67991,821113,654119,222136,176170,127190,130194,414
Other Assets35,59848,96964,30690,266124,587156,223162,879210,493264,698361,613454,778557,031
Total Assets88,228103,951128,614161,514208,428251,304279,845333,413405,401537,415651,519758,495
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-10,731-9,795-10,922-19,580-27,076-23,3694,547-33,670-39,480-65,502-61,750-55,301
Cash from Investing Activity3,709-886151-922-6,903-9,948-3,6841,445-13,945-14,132-7,987-12,635
Cash from Financing Activity6,83911,60212,51319,59034,53534,4791,68732,32651,01682,70969,82866,610
Net Cash Flow-1839211,742-9115551,1622,551101-2,4093,07592-1,326
Free Cash Flow-10,731-9,795-10,922-19,883-27,646-24,2394,096-34,420-40,603-66,811-63,466-56,619
CFO/OP-195%-145%-125%-162%-161%-113%34%-142%-117%-146%-111%-84%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days171219191918171615202323
Inventory Days
Days Payable
Cash Conversion Cycle171219191918171615202323
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters60.69%60.69%60.69%60.64%60.64%60.64%60.64%58.81%58.81%58.81%58.72%58.72%
FIIs7.66%7.91%8.42%8.39%8.24%7.40%7.53%8.40%8.11%8.06%7.23%6.90%
DIIs7.09%7.48%7.33%7.60%8.13%8.91%8.99%10.09%10.49%10.74%11.76%12.11%
Public24.31%23.70%23.38%23.18%22.84%22.93%22.71%22.60%22.52%22.37%22.16%22.23%
Others0.25%0.21%0.18%0.19%0.14%0.12%0.10%0.10%0.07%0.02%0.13%0.06%
No. of Shareholders6,60,2955,85,2205,67,0417,08,4328,07,3607,77,6807,08,8456,83,2796,39,6246,17,0716,01,4575,97,797

Fundamentals

Market Cap₹ 2,79,143 Cr.
Current Price₹ 1,742
Stock P/E27.2
Book Value₹ 487
ROCE10.6 %
ROE13.2 %
Dividend Yield0.09 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)8%
Consolidated figures.
Valuation
Market capRs 277,311 Cr
Enterprise valueRs 689,607 Cr
P/E (TTM)27.34x
Price to book3.56x
Price to sales1.76x
EV / EBITDA11.64x
EV / EBIT11.92x
EV / sales4.37x
Earnings yield3.66%
Dividend yield0.09%
P/E, 3-year average31.65x
P/B, 3-year average4.04x
P/E, 5-year average26.47x
P/B, 5-year average3.43x
Profitability
Operating margin (excl. other income)37.93%
Operating margin (incl. other income)37.68%
EBITDA margin37.57%
Pre-tax margin18.15%
Net profit margin6.43%
Net margin, latest quarter7.45%
ROE13.04%
ROCE11.84%
ROA1.39%
ROE, 3-year average13.89%
ROCE, 3-year average12.48%
ROA, 3-year average1.54%
ROE, 5-year average13.69%
ROCE, 5-year average12.31%
ROA, 5-year average1.57%
ROIC (approx.)8.64%
Tax rate26.83%
Other income / net worth-0.49%
Growth
Sales growth (latest year)13.23%
Profit growth (latest year)10.47%
Sales CAGR, 3 years22.41%
Sales CAGR, 5 years19.96%
Profit CAGR, 3 years15.16%
Profit CAGR, 5 years17.00%
Sales growth QoQ9.20%
Profit growth QoQ23.39%
Sales growth YoY (latest quarter)19.13%
Profit growth YoY (latest quarter)12.31%
Per share
EPS (TTM)Rs 63.38
EPS (latest year)Rs 61.23
EPS (latest quarter)Rs 19.57
EPS, 3-year averageRs 55.96
EPS, 5-year averageRs 98.90
Book value per shareRs 486.80
Sales per shareRs 984.92
Cash flow per shareRs -345.51
Free cash flow per shareRs -353.75
Dividend per share (latest year)Rs 1.50
Dividend per share, 3-year averageRs 1.17
Dividend per share, 5-year averageRs 1.66
Dividends
Dividend payout2.45%
Dividend payout, 3-year average2.07%
Dividend payout, 5-year average1.92%
Efficiency
Asset turnover0.20x
Fixed asset turnover22.37x
Debtor days23 days
Debtors turnover16.13x
Cash conversion cycle23 days
Working capital days-364 days
Leverage
Total debtRs 429,914 Cr
Cash and bankRs 17,618 Cr
Net debtRs 412,296 Cr
Debt to equity5.52x
Net debt / EBITDA6.96x
Interest coverage1.98x
Owners' fund to total sources10.27%
Debt to assets56.68%
Cash flow
Cash from Operating Activity (latest year)Rs -55,301 Cr
Cash from Investing Activity (latest year)Rs -12,635 Cr
Cash from Financing Activity (latest year)Rs 66,610 Cr
Net Cash Flow (latest year)Rs -1,326 Cr
Free cash flow (latest year)Rs -56,619 Cr
FCFE (approx.: FCF + change in debt)Rs 17,440 Cr
Cash from ops / profit, 5 years-3.49x
Statement figures
Net sales (TTM)Rs 157,642 Cr
Net sales (latest year)Rs 150,530 Cr
Sales (latest quarter)Rs 42,037 Cr
Operating profit excl. other income (latest year)Rs 57,098 Cr
Operating profit (latest quarter)Rs 17,141 Cr
Other income (TTM)Rs -344 Cr
EBITDA (TTM)Rs 59,224 Cr
PBDT (TTM)Rs 29,965 Cr
Profit before tax (TTM)Rs 28,612 Cr
Tax (latest year)Rs 7,214 Cr
Net profit (TTM)Rs 10,144 Cr
Net profit (latest year)Rs 9,801 Cr
Net profit (latest quarter)Rs 3,132 Cr
Depreciation (TTM)Rs 1,354 Cr
Depreciation (latest quarter)Rs 380 Cr
Interest (TTM)Rs 29,259 Cr
Cost of goods sold (latest year)Rs 62,952 Cr
Total expenditure (latest year)Rs 93,433 Cr
Total income (latest year)Rs 150,148 Cr
Share capitalRs 160 Cr
ReservesRs 77,755 Cr
Shareholders' fundsRs 77,915 Cr
Total assetsRs 758,495 Cr
Net blockRs 6,729 Cr
Capital work in progressRs 321 Cr
InvestmentsRs 194,414 Cr
ReceivablesRs 9,332 Cr
Other liabilitiesRs 250,666 Cr
Shares outstanding (crore)160.06
Ownership
Promoter holding58.72% (-0.09 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 27.3 is at the 5th percentile of its own 9.4-year range (median 38.4, low 21.9, high 63.8).
P/B 3.56 is at the 7th percentile (median 5.14).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBAJAJFINSVNifty 50Difference
1 week-1.7%-2.8% +1.1 pts
1 month-12.1%-6.8% -5.3 pts
3 months-8.6%-7.6% -1.0 pts
6 months+6.2%+0.4% +5.8 pts
1 year-14.9%-9.9% -5.0 pts
2 years-9.8%-13.6% +3.8 pts
3 years+12.5%+14.2% -1.7 pts
5 years+0.9%+27.9% -27.0 pts
285 mutual fund schemes hold about ₹17,330 Cr. Over three months 219 bought more and 51 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Multi Asset Allocation Fund2.58%2,270 +17%
HDFC Large Cap Fund3.33%1,328 +21%
ICICI Pru Large & Mid Cap Fund3.15%1,058 +15%
ICICI Pru Value Fund1.62%972 +14%
ICICI Pru Balanced Advantage Fund(M0.56%418 +25%
SBI Large & Midcap Fund0.98%416 +100%
Aditya Birla SL Flexi Cap Fund1.43%414 +16%
Aditya Birla SL Large Cap Fund1.37%406 +21%
HDFC Balanced Advantage Fund0.38%404 +23%
Franklin India Large Cap Fund4.47%335 +70%
UTI Nifty 50 Index Fund1.06%313 +24%
Nippon India Focused Fund3.50%303 +8%
Kotak Arbitrage Fund(M0.34%261 -47%
ICICI Pru Banking & Fin Serv Fund2.29%260 +16%
Nippon India Banking & Financial Services Fund3.26%258 +22%
ICICI Pru Banking & Fin Serv Fund2.29%258 +16%
HDFC Nifty 50 Index Fund1.06%257 +24%
SBI Focused Fund0.49%249 -86%
ICICI Pru Equity Savings Fund(Q1.48%240 -3%
SBI Multi Asset Allocation Fund(A1.08%226 +19%
SBI Balanced Advantage Fund0.52%219 +23%
Bandhan Large & Mid Cap Fund1.03%217 +100%
ICICI Pru Large Cap Fund0.24%195 -13%
ICICI Pru Nifty 50 Index Fund1.06%184 +24%
ICICI Pru Nifty 50 Index Fund1.06%183 +24%

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was -681% of net profit over the last 3 years
lookAuditor change Auditor change 2026-04-30: Bajaj Finserv Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-04-27Bajaj Auto Holdings LimitedPromoter Groupsell2,090,050Rs 370.08 CrMarket Sale
2026-04-27Bajaj Holdings & Investment LimitePromotersbuy2,090,050Rs 370.02 CrMarket Purchase
2026-02-19Sheetal BajajPromoter Groupsell25,000Rs 5.12 CrMarket Sale
2026-02-19Nirav Trust Niraj BajajPromoter Groupbuy25,000Rs 5.12 CrMarket Purchase
2025-09-29Neelima Bajaj Family TrustPromoter Groupother3,379,240Rs 679.18 CrOff Market
2025-09-29Nimisha Bajaj Family TrustPromoter Groupother3,553,700Rs 714.24 CrOff Market
2025-09-29Nimisha Bajaj Family TrustPromoter Groupother3,553,700Rs 714.24 CrOff Market
2025-09-29Kumud Neelima Family TrustPromoter Groupother862,610Rs 173.37 CrOff Market
2025-09-29Kumud Neelima Family TrustPromoter Groupother862,610Rs 173.37 CrOff Market
2025-09-29Kumud Nimisha Family TrustPromoter Groupother862,610Rs 173.37 CrOff Market
2025-09-29Kumud Nimisha Family TrustPromoter Groupother862,610Rs 173.37 CrOff Market
2025-09-29Neelima Bajaj Family TrustPromoter Groupother3,379,240Rs 679.18 CrOff Market
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹42,037 Cr +19.1% vs Jun 2025. Net profit ₹6,297 Cr +18.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-30Dividend - Rs 1.50 Per Share
2025-06-27Dividend - Re 1 Per Share
2024-06-21Dividend - Re 1 Per Share
2023-06-30Dividend - Rs 0.80 Per Share
2022-09-13Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 1/- Per Share0.2000
2022-09-13Bonus 1:10.5000
2022-06-30Dividend - Rs 4 Per Share
2021-07-08 Annual General Meeting/Dividend - Rs 3 Per Share
2020-03-03 Interim Dividend - Rs 5 Per Share
2019-07-11 Annual General Meeting/ Dividend - Rs 2.50 Per Share
2018-07-05 Annual General Meeting / Dividend- Rs 1.75 Per Share
2017-07-06 Annual General Meeting/Div-Rs 1.75 Per Share
2016-03-16 Interim Dividend - Rs 1.75/- Per Share (Purpose Revised)
2015-07-09Annual General Meeting/Dividend Rs 1.75 Per Share
2014-07-03Annual General Meeting / Dividend - Rs 1.75/- Per Share
2013-07-04Annual General Meeting / Dividend Rs.1.50/- Per Equity Share
2012-09-06Rights 1:10 @ Premium Rs.645/- Per Share
2012-07-05Annual General Meeting And Dividend - Rs.1.50 Per Share
2011-06-29Annual General Meeting And Dividend Rs.1.25 Per Share
2010-07-08Annual General Meeting / Dividend Re. 1 Per Share
2009-07-02Agm/Div-Re.1/- Per Share
2008-06-27Agm/Dividend - 20%
DateTypeWhat it says
2026-10-01AcquisitionSubscription of warrants convertible into equivalent number of Equity Shares for an aggregate consideration not exceeding Rs. 5,800 Crore by way of pr...
2026-09-30RetirementRetirement of Shri Ramaswamy P. Subramaniam, President - Private Equity Investments & Group Strategy Head with effect from 30 September 2026 (close of...
2026-09-07UpdatesInformation pertaining to the unlisted insurance subsidiaries of the Company.
2026-09-01Address ChangeChange in Registered Office of the company.
2026-08-17Concall / analyst meetSchedule of meet
2026-08-07Concall / analyst meetSchedule of meet
2026-08-07UpdatesInformation pertaining to the unlisted insurance subsidiaries of the Company.
2026-08-05Concall / analyst meetTranscript of earnings call held on 31 July 2026.
2026-08-03Shareholder meetingVoting results.
2026-07-31Concall / analyst meetLink of Recording
2026-07-31Shareholder meetingProceedings of 19th Annual General Meeting held on July 31, 2026
2026-07-31Investor PresentationInvestor Presentation
2026-07-31Investor PresentationInvestor Presentation
2026-07-31General UpdatesPursuing re-insurance business through a subsidiary of the Company to be incorporated, subject to the approval of Insurance Regulatory and Development...
2026-07-31Issue of SecuritiesIssue of Securities
2026-07-31Board meeting outcomeBajaj Finserv Limited has submitted to the Exchange, the unaudited financial results for the period ended 30 June 2026.
2026-07-25Concall / analyst meetSchedule of meet
2026-07-23Concall / analyst meetSchedule of meet
2026-07-20Concall / analyst meetThe Conference call for financial results for the quarter ended 30 June 2026.
2026-07-09UpdatesInformation pertaining to the unlisted insurance subsidiaries of the Company.
2026-07-08General UpdatesThe Business Responsibility and Sustainability Report for FY2026.
2026-07-08UpdatesAnnual Report for FY2026 and Notice of 19th Annual General Meeting to be held on Friday, 31 July 2026 at 12:15 p.m. (IST) through Video Conferencing o...
2026-07-08Shareholder meetingNotice of Annual General Meeting to be held on July 31, 2026
2026-06-16Concall / analyst meetSchedule of meet
2026-06-10UpdatesCommunication sent to Shareholders regarding Tax Deduction at Source (TDS) on final dividend and updation of bank account details.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.83
Max pain (expiry 2026-10-27)1,780
Largest call open interest at1,900
Largest put open interest at1,700
Implied volatility, at the money25.1%
Underlying at snapshot1,732.60
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,900
2026-09-29900
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03