Incorporated in 2024, Bajaj Holdings & Investment Ltd is an Investment and Credit Company[1]
Business Overview:[1]a)BHIL was formed after demerger fromBajaj Auto Limited, whereby its manufacturing undertaking was transferred to the new Bajaj Auto Limited (BAL), and its strategic business undertaking consisting of wind farm business, financial services business was vested with Bajaj Finserv Limited (BFS).b)All the businesses and all properties, assets, investments, and liabilities of erstwhile Bajaj Auto Ltd, other than the manufacturing undertaking and the strategic business undertaking, now remain with BHIL.c)Post-demerger, BHIL holds30%+shares each in BAL and BFS.d)BHIL is registered as a Systemically Important Non-deposit Non-Banking Financial Company
| 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 Finserv | 2002.80 | 33.15 | 320010.08 | 0.05 | 4746.47 | 7.53 | 37402.93 | 10.98 | 11.03 | 141479.18 | 37.79 | 9680.79 | 2244.10 | 4.11 | 2.96 | 5.13 |
| 2. | Bajaj Holdings | 10665.00 | 45.82 | 118690.82 | 0.87 | 2180.76 | 107.46 | 2501.15 | 121.51 | 7.24 | 3053.96 | 95.05 | 2591.25 | 2180.76 | 5.20 | 6.41 | 0.00 |
| 3. | Choice Intl. | 818.00 | 100.54 | 18223.08 | 0.00 | 56.46 | 20.12 | 274.43 | 10.93 | 19.95 | 971.39 | 33.83 | 181.33 | 55.23 | 13.69 | 7.36 | 0.40 |
| 4. | JM Financial | 137.35 | 11.44 | 13135.33 | 1.92 | 261.89 | 16.30 | 1031.28 | -13.37 | 9.39 | 4252.68 | 62.07 | 1142.26 | 270.00 | 1.30 | 2.87 | 1.10 |
| 5. | Edelweiss.Fin. | 107.90 | 24.07 | 10212.49 | 1.41 | 175.45 | 16.49 | 1860.87 | -33.43 | 13.27 | 8241.71 | 34.17 | 424.89 | 128.41 | 2.34 | 1.28 | 4.40 |
| 6. | Kama Holdings | 2787.00 | 10.91 | 8943.65 | 1.17 | 390.28 | 90.10 | 3672.21 | 6.38 | 11.75 | 15404.48 | 21.18 | 820.53 | 197.02 | 1.21 | 5.72 | 0.60 |
| 7. | Pilani Invest. | 4852.35 | 185.45 | 5372.66 | 0.31 | 44.71 | -42.46 | 129.47 | 5.41 | 1.75 | 296.73 | 88.17 | 28.97 | 44.71 | 0.32 | 0.55 | 0.13 |
| – | Median: 15 Co. | 280.0 | 18.3 | 1855.35 | 0.05 | 41.85 | 20.12 | 286.86 | 10.93 | 9.64 | 975.75 | 33.83 | 82.05 | 39.95 | 1.65 | 3.08 | 0.44 |
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 | 1,624 | 91 | 77 | 98 | 1,664 | 101 | 1,249 | 126 | 1,129 | 120 | 138 | 295 | 2,501 |
Expenses | 30 | 33 | 24 | 32 | 28 | 31 | 31 | 41 | 44 | 29 | 40 | 40 | 42 |
Operating Profit | 1,593 | 58 | 53 | 67 | 1,636 | 70 | 1,218 | 84 | 1,085 | 91 | 98 | 255 | 2,459 |
Other Income | 13 | 16 | 19 | 15 | 15 | 24 | 10 | 14 | 14 | 31 | 29 | 1,996 | 13 |
Profit before tax | 1,598 | 66 | 59 | 73 | 1,643 | 86 | 1,219 | 90 | 1,090 | 114 | 119 | 2,243 | 2,464 |
Tax % | 2% | 25% | 24% | 25% | 4% | 23% | 1% | 26% | 4% | 26% | 24% | 9% | 11% |
Net Profit | 1,574 | 49 | 45 | 55 | 1,571 | 66 | 1,204 | 66 | 1,051 | 84 | 91 | 2,036 | 2,181 |
EPS in Rs | 141.43 | 4.42 | 4.06 | 4.97 | 141.18 | 5.89 | 108.22 | 5.93 | 94.45 | 7.55 | 8.15 | 182.92 | 195.95 |
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 | 836 | 1,003 | 1,395 | 883 | 949 | 998 | 2,206 | 426 | 1,831 | 1,933 | 3,176 | 1,573 | 3,054 |
Expenses | 21 | 37 | 37 | 211 | 64 | 85 | 114 | 86 | 97 | 119 | 121 | 154 | 151 |
Operating Profit | 815 | 966 | 1,357 | 673 | 885 | 914 | 2,092 | 340 | 1,734 | 1,813 | 3,055 | 1,419 | 2,903 |
Other Income | 3 | 4 | 7 | 5 | 5 | 0 | 0 | 6 | 2 | 4 | 0 | 27 | 2,069 |
Interest | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 4 | 3 | 7 | 2 | 1 | 1 |
Depreciation | 5 | 5 | 5 | 5 | 5 | 4 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
Profit before tax | 814 | 964 | 1,359 | 672 | 884 | 910 | 2,048 | 310 | 1,701 | 1,779 | 3,021 | 1,413 | 4,939 |
Net Profit | 733 | 868 | 1,271 | 538 | 800 | 788 | 1,827 | 199 | 1,631 | 1,712 | 2,896 | 1,292 | 4,391 |
EPS in Rs | 65.89 | 77.97 | 114.16 | 48.36 | 71.88 | 70.82 | 164.15 | 17.84 | 146.51 | 153.79 | 260.25 | 116.07 | 394.57 |
Dividend Payout % | 46% | 42% | 28% | 67% | 56% | 46% | 24% | 224% | 78% | 80% | 50% | 80% | – |
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 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 |
Reserves | 5,418 | 5,852 | 6,687 | 7,225 | 10,110 | 10,878 | 10,581 | 13,905 | 15,277 | 15,554 | 18,724 | 19,261 | 22,642 |
Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 168 | 136 | 114 | 93 | 63 | 31 | 15 |
Other Liabilities | 442 | 494 | 172 | 66 | 68 | 56 | 66 | 350 | 567 | 563 | 804 | 460 | 1,391 |
Total Liabilities | 5,972 | 6,457 | 6,970 | 7,402 | 10,289 | 11,046 | 10,926 | 14,503 | 16,069 | 16,321 | 19,701 | 19,863 | 24,158 |
Fixed Assets | 25 | 25 | 24 | 220 | 215 | 193 | 359 | 328 | 297 | 265 | 234 | 203 | 187 |
Gross Block | 97.35 | 97.33 | 97.31 | 315.34 | 315.32 | 227.84 | 424.95 | 425.10 | 426.21 | 426.50 | 426.64 | 427.40 | – |
Accumulated Depreciation | 90.01 | 90.20 | 90.39 | 112.62 | 117.83 | 34.41 | 65.90 | 97.56 | 129.26 | 161.02 | 192.79 | 224.59 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 5,366 | 6,173 | 5,308 | 6,894 | 9,597 | 10,295 | 10,335 | 14,020 | 15,492 | 15,724 | 19,289 | 18,432 | 23,084 |
Other Assets | 581 | 259 | 1,637 | 288 | 478 | 557 | 232 | 156 | 280 | 331 | 179 | 1,228 | 888 |
Total Assets | 5,972 | 6,457 | 6,970 | 7,402 | 10,289 | 11,046 | 10,926 | 14,503 | 16,069 | 16,321 | 19,701 | 19,863 | 24,158 |
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 | 868 | 776 | 1,143 | -913 | 1,629 | 627 | 1,849 | 225 | 1,581 | 1,669 | 1,875 | -1,987 |
Cash from Investing Activity | -515 | -445 | 1,022 | -383 | -1,123 | -163 | -844 | -188 | -106 | -133 | -460 | 3,019 |
Cash from Financing Activity | -326 | -391 | -759 | -110 | -432 | -536 | -988 | -35 | -1,475 | -1,532 | -1,402 | -990 |
Net Cash Flow | 27 | -59 | 1,406 | -1,406 | 74 | -72 | 17 | 2 | -0 | 4 | 13 | 42 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Working Capital Days | -164 | -146 | -16 | 30 | 60 | 129 | 15 | 64 | 39 | 45 | 5 | 239 |
ROCE % | 15% | 17% | 21% | 10% | 10% | 9% | 19% | 3% | 11% | 11% | 17% | 7% |
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Stock Analysis
Bajaj Holdings & Investment Ltd is an investment and credit company.
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