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)
Amongst Largest NBFCs in IndiaThe company is one of India’s leading and most diversified financial services companies. Since its inception, it has leveraged technology to launch 26 product lines and 51 product variants for retail, MSME, and commercial consumers, with major product innovations like the EMI card and Flexi with a significant presence in both urban and rural India. It also accepts public and corporate deposits.[1][2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Bajaj Finance | 951.15 | 36.93 | 591851.47 | 0.47 | 4250.77 | 17.18 | 17184.42 | 18.61 | 11.54 | 65048.94 | 64.83 | 16030.10 | 4250.77 | 6.40 | 4.44 | 3.18 |
| 2. | Shriram Finance | 1000.80 | 21.50 | 188299.36 | 0.99 | 2314.16 | 12.22 | 11912.44 | 18.07 | 10.95 | 45601.30 | 72.59 | 8760.03 | 2314.22 | 3.12 | 3.04 | 3.87 |
| 3. | Muthoot Finance | 3939.40 | 21.67 | 158154.45 | 0.66 | 2411.65 | 90.36 | 7282.79 | 47.76 | 13.19 | 24544.40 | 75.96 | 7303.69 | 2420.63 | 4.79 | 4.67 | 3.76 |
| 4. | Tata Capital | 358.55 | 41.33 | 152199.83 | 0.00 | 1118.97 | 2.01 | 7737.18 | 7.69 | 9.58 | 28323.85 | 71.64 | 3658.33 | 1097.32 | – | 1.72 | 5.88 |
| 5. | Cholaman.Inv.&Fn | 1692.40 | 30.76 | 142841.42 | 0.12 | 1159.61 | 19.82 | 7491.38 | 19.76 | 10.34 | 28536.73 | 69.18 | 4645.19 | 1159.61 | 5.50 | 2.38 | 7.23 |
| 6. | SBI Cards | 842.10 | 41.81 | 80132.28 | 0.30 | 444.77 | 9.98 | 4960.98 | 12.21 | 10.40 | 19130.54 | 27.49 | 1918.14 | 444.77 | 5.42 | 3.10 | 3.33 |
| 7. | L&T Finance Ltd | 297.60 | 27.67 | 74488.67 | 0.93 | 734.88 | 5.64 | 4335.75 | 7.87 | 8.71 | 16715.82 | 60.77 | 2698.51 | 734.84 | 2.89 | 2.37 | 3.72 |
| – | Median: 96 Co. | 131.57 | 21.59 | 487.74 | 0.0 | 7.23 | 10.95 | 41.0 | 12.68 | 8.91 | 166.22 | 56.43 | 17.7 | 6.24 | 1.93 | 3.04 | 0.78 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 2,951 | 3,111 | 3,153 | 3,505 | 3,723 | 4,033 | 4,158 | 4,736 | 5,105 | 5,434 | 5,753 | 5,693 | 5,998 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 4 | 1 | 2 | 1 | 2 | 2 | 4 | 2 | 2,548 | 23 | 11 | 1 | 2 |
Profit before tax | 3,335 | 3,540 | 3,830 | 4,005 | 4,191 | 4,291 | 4,566 | 4,602 | 7,191 | 4,978 | 4,905 | 5,546 | 5,703 |
Tax % | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 22% | 26% | 20% | 25% | 25% |
Net Profit | 2,472 | 2,624 | 2,837 | 2,959 | 3,106 | 3,177 | 3,402 | 3,402 | 5,614 | 3,706 | 3,940 | 4,133 | 4,251 |
EPS in Rs | 4.08 | 4.33 | 4.69 | 4.88 | 5.13 | 5.14 | 5.50 | 5.50 | 9.07 | 5.99 | 6.34 | 6.65 | 6.83 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 1,362 | 1,752 | 2,353 | 3,248 | 4,067 | 5,189 | 8,763 | 10,325 | 11,236 | 11,928 | 15,249 | 20,776 | 22,878 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 32 | 26 | 35 | 23 | 10 | 13 | 9 | 3 | -17 | -7 | -5 | -18 | 37 |
Interest | 1,592 | 2,274 | 2,959 | 3,853 | 4,649 | 6,037 | 7,990 | 7,550 | 7,678 | 9,424 | 14,003 | 18,657 | 20,157 |
Depreciation | 29 | 36 | 56 | 71 | 102 | 137 | 271 | 302 | 355 | 444 | 629 | 822 | 918 |
Profit before tax | 1,091 | 1,357 | 1,965 | 2,818 | 3,831 | 6,035 | 6,808 | 5,363 | 8,586 | 13,882 | 17,053 | 21,676 | 21,132 |
Net Profit | 719 | 898 | 1,279 | 1,837 | 2,485 | 3,890 | 4,881 | 3,956 | 6,350 | 10,290 | 12,644 | 16,662 | 16,030 |
EPS in Rs | 1.43 | 1.79 | 2.37 | 3.34 | 4.30 | 6.73 | 8.11 | 6.56 | 10.49 | 17.00 | 20.43 | 26.81 | 25.81 |
Dividend Payout % | 11% | 10% | 10% | 11% | 9% | 9% | 12% | 15% | 19% | 18% | 18% | 21% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 50 | 50 | 54 | 109 | 115 | 115 | 120 | 120 | 121 | 121 | 124 | 124 | 622 |
Reserves | 3,941 | 4,750 | 7,373 | 9,491 | 15,702 | 19,448 | 31,693 | 35,818 | 41,935 | 51,372 | 71,887 | 87,872 | 92,700 |
Borrowings | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Liabilities | 878 | 1,325 | 2,522 | 4,880 | 2,169 | 2,585 | 1,984 | 2,491 | 2,921 | 3,347 | 4,438 | 5,034 | 5,533 |
Total Liabilities | 24,618 | 32,780 | 46,973 | 63,730 | 81,615 | 108,500 | 138,004 | 138,284 | 168,017 | 216,525 | 296,827 | 368,248 | 395,664 |
Fixed Assets | 220 | 249 | 287 | 361 | 465 | 654 | 1,228 | 1,227 | 1,598 | 2,147 | 3,060 | 3,575 | 3,539 |
Gross Block | 308 | 344 | 423 | 587 | 782 | 1,085 | 1,909 | 2,138 | 2,669 | 3,522 | 4,882 | 5,862 | – |
Accumulated Depreciation | 88 | 94 | 136 | 225 | 318 | 431 | 681 | 911 | 1,070 | 1,375 | 1,823 | 2,287 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51 | 33 | 80 | 43 | 39 | 33 |
Investments | 28 | 332 | 1,034 | 4,075 | 3,653 | 10,370 | 20,139 | 20,169 | 16,372 | 28,738 | 37,153 | 41,716 | 41,772 |
Other Assets | 24,370 | 32,198 | 45,652 | 59,295 | 77,497 | 97,475 | 116,636 | 116,836 | 150,014 | 185,560 | 256,571 | 322,917 | 350,319 |
Total Assets | 24,618 | 32,780 | 46,973 | 63,730 | 81,615 | 108,500 | 138,004 | 138,284 | 168,017 | 216,525 | 296,827 | 368,248 | 395,664 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -6,087 | -7,147 | -9,871 | -10,440 | -17,191 | -15,694 | -14,110 | 4,386 | -23,856 | -27,302 | -52,380 | -50,995 |
Cash from Investing Activity | -96 | -365 | -686 | -3,048 | 505 | -6,638 | -9,633 | 424 | 3,806 | -12,400 | -9,721 | -1,099 |
Cash from Financing Activity | 6,543 | 6,953 | 11,656 | 12,516 | 16,589 | 22,344 | 24,177 | -4,113 | 21,550 | 38,021 | 64,774 | 51,604 |
Net Cash Flow | 360 | -559 | 1,099 | -972 | -97 | 13 | 435 | 697 | 1,501 | -1,682 | 2,674 | -491 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | – | – | – | – | – | – | – | – | – | – | – | – |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | – | – | – | – | – | – | – | – | – | – | – | – |
Working Capital Days | – | – | – | – | – | – | – | – | – | – | – | – |
ROCE % | – | – | – | – | – | – | – | – | – | – | – | – |
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Stock Analysis
Bajaj Finance Limited is a leading Non-Banking Financial Company (NBFC) in India, primarily engaged in lending and offering a range of financial services products across retail, SME, and commercial customer segments.
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