Bajaj Finserv Share: Results aaye, Flat Profit Dikha, Par Underlying Growth Zabardast!

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AuthorAarav Shah|Published at:
Bajaj Finserv Share: Results aaye, Flat Profit Dikha, Par Underlying Growth Zabardast!
Overview

Aaj Bajaj Finserv ne apne Q3 FY26 ke results reveal kiye hain, aur bhai, reported profit toh flat aaya hai **₹2,229 crore** pe. Reason? Company ne **₹1,671 crore** ke accelerated ECL provisions aur **₹379 crore** ka labor code charge book kiya hai. Par asli baat yeh hai ki, in sabke baad bhi, company ka underlying adjusted profit **32%** bhaga hai **₹2,936 crore** tak! Total income bhi **24%** up hai.

Reported Profit Flat, Par Underlying Strength Dikhi!

Dekho bhai, Bajaj Finserv ka Q3 FY26 ka consolidated profit after tax ₹2,229 crore aaya hai, jo last year ke ₹2,231 crore se lagbhag same hi hai, matlab flat. Iska seedha reason hai company ne jo ek-baar ke badhe charges book kiye hain. Is quarter mein ₹1,406 crore accelerated Expected Credit Loss (ECL) provisions mein gaye hain aur ₹379 crore naye labor codes ke charge ke liye lage hain. In sab milakar reported profit se lagbhag ₹707 crore kam ho gaye.

Lekin sabse achhi baat ye hai ki, company ki total income 24% badhkar ₹39,708 crore ho gayi hai. Aur agar in ek-baar ke charges ko hata dein, toh Bajaj Finserv ka consolidated profit after tax 32% jabardast jump maar kar ₹2,936 crore ho gaya hai! Yehi hai asli growth jo company dikha rahi hai.

Subsidiaries Ka Kya Haal Hai?

Bajaj Finance ka profit provisions ki wajah se thoda kam dikh raha hai, reported profit ₹3,978 crore hai. Lekin adjusted profit 23% badh kar ₹5,227 crore ho gaya hai, aur unka Assets Under Management (AUM) bhi 22% badh ke ₹4.84 lakh crore ho gaya hai.

Bajaj Housing Finance ne bhi 21% profit growth dikhai hai, ₹665 crore ka profit aaya hai.

Bajaj General Insurance ka profit toh lagbhag stable (₹399 crore) hai, par unka gross written premium 12% badhkar ₹7,389 crore ho gaya hai aur combined ratio bhi 97.9% ho gaya hai, matlab underwriting mein improvement hai.

Bajaj Life Insurance ko ₹31 crore ka loss hua hai (pehle ₹222 crore ka profit tha), lekin Value of New Business (VNB) 59% badh kar ₹405 crore ho gaya hai, jo ek positive sign hai.

Strategic Deal Aur Valuation

Ek badi khabar ye bhi hai ki Bajaj Finserv ne January 2026 mein Allianz SE ki remaining 23% stake apne insurance businesses mein acquire kar li hai. Is deal mein ₹939.29 crore kharch hue hain, aur ab company ki 75.01% holding ho gayi hai.

Valuation ki baat karein toh Bajaj Finserv ka P/E ratio TTM pe lagbhag 33.1x hai, jo uske historical average aur Bajaj Finance ke P/E ke kareeb hai. Analysts ka kehna hai ki stock pe 'Hold' rating hai, par valuation thoda 'expensive' lag raha hai. 3rd Feb 2026 ko stock lagbhag ₹2,012.70 pe trade kar raha tha, market cap ₹3,21,591 crore ke aas-paas hai.

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