Financial Ratios Bajaj Finance Limited

Equities

BAJFINANCE

INE296A01032

Consumer Lending

End-of-day quote NSE India S.E. Other stock markets 08/05/2026			5-day change	1st Jan Change
955.35 ^INR	-1.79%		+1.96%	-3.19%

08/05	Indian non-bank lenders plan $1.6 billion in debt sales as yields decline, bankers say	RE
04/05	Nomura Adjusts Bajaj Finance's Price Target to INR1,140 From INR1,195, Keeps at Buy	MT

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Published financial data: BAJAJ FINANCE LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Interest and Dividend Income, Total	23TCr	27TCr	36TCr	48TCr	61TCr
Interest Expense, Total	9.41TCr	9.75TCr	13TCr	19TCr	25TCr
Net Interest Income	14TCr	18TCr	23TCr	30TCr	36TCr
Commission and Fees	2.45TCr	3.07TCr	4.34TCr	5.27TCr	5.98TCr
Gain (Loss) on Sale of Loans & Receivables	-	-	23Cr	13Cr	552.04Cr
Gain (Loss) on Sale of Investments, Total (Rev)	84Cr	11Cr	-23Cr	-	93Cr
Other Revenues, Total	838.21Cr	1.29TCr	1.51TCr	1.4TCr	1.91TCr
Revenues Before Provison For Loan Losses	17TCr	22TCr	29TCr	36TCr	45TCr
Provision For Loan Losses	5.97TCr	4.8TCr	3.14TCr	4.63TCr	7.91TCr
Total Revenues	11TCr	17TCr	26TCr	32TCr	37TCr
Salaries And Other Employee Benefits	2.5TCr	3.59TCr	5.06TCr	6.4TCr	7.51TCr
Cost of Services Provided, Total	1.45TCr	2.03TCr	2.25TCr	1.93TCr	3.08TCr
Depreciation & Amortization - (IS) - (Collected)	325.27Cr	384.57Cr	485.38Cr	683.32Cr	880.99Cr
Provision for Bad Debts	-	-	-	-	-
Other Operating Expenses	1.03TCr	1.56TCr	2.37TCr	3.31TCr	3.48TCr
Total Operating Expenses	5.3TCr	7.56TCr	10TCr	12TCr	15TCr
Operating Income	5.99TCr	9.53TCr	16TCr	19TCr	22TCr
Income (Loss) on Equity Invest.	-	-	1.67Cr	7.64Cr	18Cr
Currency Exchange Gains (Loss)	-	39L	-	-	-
Other Non Operating Income (Expenses)	4.77Cr	10L	30L	-	26Cr
EBT, Excl. Unusual Items	6TCr	9.53TCr	16TCr	19TCr	22TCr
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	-6.85Cr	-25Cr	-13Cr	-	-36Cr
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	5.99TCr	9.5TCr	16TCr	19TCr	22TCr
Income Tax Expense	1.57TCr	2.48TCr	4.02TCr	4.86TCr	5.3TCr
Earnings From Continuing Operations	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Net Income to Company	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Minority Interest	-	-	-	-	-141.66Cr
Net Income - (IS)	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Net Income to Common Incl Extra Items	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Net Income to Common Excl. Extra Items	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Per Share Items
Net EPS - Basic	7.36	11.66	19.05	23.69	26.89
Basic EPS - Continuing Operations	7.36	11.66	19.05	23.69	26.89
Basic Weighted Average Shares Outstanding	600.67Cr	602.57Cr	603.98Cr	610.03Cr	618.64Cr
Net EPS - Diluted	7.3	11.58	18.96	23.6	26.82
Diluted EPS - Continuing Operations	7.3	11.58	18.96	23.6	26.82
Diluted Weighted Average Shares Outstanding	605.5Cr	606.97Cr	607.04Cr	612.38Cr	620.35Cr
Normalized Basic EPS	6.24	9.88	16.08	19.78	22.11
Normalized Diluted EPS	6.19	9.81	16	19.71	22.05
Dividend Per Share	1	2	3	3.6	4.4
Payout Ratio	0.06	8.57	10.49	12.56	13.37
Supplemental Items
Total Revenues (As Reported)	27TCr	32TCr	41TCr	55TCr	70TCr
Effective Tax Rate - (Ratio)	26.24	26.05	25.89	25.16	24
Current Domestic Taxes	1.66TCr	-	-	-	-
Total Current Taxes	1.66TCr	2.5TCr	4TCr	4.96TCr	5.39TCr
Deferred Domestic Taxes	-88Cr	-	-	-	-
Total Deferred Taxes	-88Cr	-22Cr	22Cr	-99Cr	-90Cr
Normalized Net Income	3.75TCr	5.96TCr	9.71TCr	12TCr	14TCr
Non-Cash Pension Expense	-3.88Cr	5.27Cr	16Cr	12Cr	30Cr
Supplemental Operating Expense Items
Stock-Based Comp., G&A Exp. (Total)	124.75Cr	161.03Cr	226.75Cr	-	399.07Cr
Stock-Based Comp., Other (Total)	-	-	-	268.23Cr	-
Total Stock-Based Compensation	124.75Cr	161.03Cr	226.75Cr	268.23Cr	399.07Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.18TCr	3.41TCr	1.55TCr	4.03TCr	3.64TCr
Long-Term Investments - (FS Template)	737.13Cr	3.42TCr	2.63TCr	3.12TCr	4.3TCr
Trading Asset Securities, Total	13TCr	1.59TCr	6.67TCr	4.98TCr	7.01TCr
Loans and Lease Receivables - (FS Template)	1,46700Cr	1,91400Cr	2,42300Cr	3,26300Cr	4,07800Cr
Other Receivables	1.3TCr	1.67TCr	1.78TCr	2.25TCr	2.84TCr
Gross Property Plant And Equipment	1.77TCr	2.2TCr	2.82TCr	3.83TCr	4.51TCr
Accumulated Depreciation	-718Cr	-903.71Cr	-1.13TCr	-1.44TCr	-1.8TCr
Net Property Plant And Equipment	1.05TCr	1.3TCr	1.69TCr	2.38TCr	2.72TCr
Goodwill	3.27Cr	3.27Cr	3.27Cr	3.27Cr	3.27Cr
Other Intangibles, Total	314.73Cr	451.32Cr	693.02Cr	906.42Cr	1.1TCr
Restricted Cash	-	-	92Cr	79Cr	139.07Cr
Other Current Assets, Total	4.65TCr	1.02TCr	3.31TCr	9.26TCr	14TCr
Deferred Tax Assets Long-Term (Collected)	945.9Cr	951.11Cr	937.09Cr	1.02TCr	1.14TCr
Other Long-Term Assets, Total	366.95Cr	7.28TCr	14TCr	21TCr	21TCr
Total Assets	1,71500Cr	2,12500Cr	2,75200Cr	3,75700Cr	4,66100Cr
Liabilities
Interest Bearing Deposits	26TCr	31TCr	45TCr	60TCr	71TCr
Deposits	26TCr	31TCr	45TCr	60TCr	71TCr
Accounts Payable, Total	894.86Cr	1.17TCr	1.45TCr	2.06TCr	1.88TCr
Accrued Expenses, Total	404.04Cr	494.31Cr	341.88Cr	501.36Cr	522.31Cr
Short-Term Borrowings	9.37TCr	14TCr	22TCr	44TCr	49TCr
Current Portion of Long-Term Debt	19TCr	37TCr	36TCr	39TCr	52TCr
Current Portion of Leases	88Cr	109.35Cr	142.81Cr	193.24Cr	228.69Cr
Long-Term Debt	77TCr	83TCr	1,13900Cr	1,50300Cr	1,88600Cr
Long-Term Leases	255.55Cr	345.71Cr	444.56Cr	807.92Cr	892.5Cr
Current Income Taxes Payable	180.17Cr	100.06Cr	139.21Cr	108.64Cr	100.63Cr
Unearned Revenue, Current	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	760.94Cr	997.15Cr	641.57Cr	767.65Cr	935.2Cr
Unearned Revenue Non Current	-	-	3L	1L	-
Pension & Other Post Retirement Benefits	118.23Cr	142.76Cr	229.42Cr	363.42Cr	459.52Cr
Other Non Current Liabilities	122.31Cr	62Cr	770.59Cr	794.04Cr	860.79Cr
Total Liabilities	1,34600Cr	1,68800Cr	2,20900Cr	2,99000Cr	3,67200Cr
Common Stock, Total	120.52Cr	121.09Cr	121.09Cr	123.8Cr	124.29Cr
Additional Paid In Capital	17TCr	17TCr	17TCr	27TCr	28TCr
Retained Earnings	20TCr	26TCr	36TCr	49TCr	67TCr
Comprehensive Income and Other	183.22Cr	315.38Cr	471.41Cr	913.36Cr	787.62Cr
Total Common Equity	37TCr	44TCr	54TCr	77TCr	97TCr
Minority Interest	-	-	-	-	2.24TCr
Total Equity	37TCr	44TCr	54TCr	77TCr	99TCr
Total Liabilities And Equity	1,71500Cr	2,12500Cr	2,75200Cr	3,75700Cr	4,66100Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	601.57Cr	603.28Cr	604.42Cr	618.01Cr	620.81Cr
ECS Total Common Shares Outstanding	601.57Cr	603.28Cr	604.42Cr	618.01Cr	620.81Cr
Book Value / Share	61.37	72.46	89.96	124.1	155.75
Tangible Book Value	37TCr	43TCr	54TCr	76TCr	96TCr
Tangible Book Value Per Share	60.84	71.7	88.81	122.63	153.97
Total Debt	1,06300Cr	1,35000Cr	1,72600Cr	2,34300Cr	2,91000Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	93Cr	118.79Cr	181Cr	288.34Cr	407.68Cr
Net Debt	91TCr	1,30000Cr	1,64400Cr	2,25300Cr	2,80400Cr
Equity Method Investments, Total	-	-	94Cr	369.42Cr	386.81Cr
Full Time Employees	28.55T	35.42T	43.15T	-	64.09T

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	4.42TCr	7.03TCr	12TCr	14TCr	17TCr
Depreciation, Depletion & Amortization	248.83Cr	287.69Cr	343.36Cr	473.39Cr	603.08Cr
Total Depreciation, Depletion & Amortization	248.83Cr	287.69Cr	343.36Cr	473.39Cr	603.08Cr
Amortization of Deferred Charges, Total	76Cr	97Cr	142.02Cr	209.93Cr	277.91Cr
Gain (Loss) on Sale of Loans & Receivables - (CF)	-	-	-23Cr	-13Cr	-552.04Cr
(Gain) Loss On Sale of Asset - (CF)	6.85Cr	25Cr	13Cr	13Cr	36Cr
(Gain) Loss on Sale of Investments - (CF)	5.38TCr	-326.9Cr	-285.19Cr	4.32TCr	7.43TCr
Provision for Credit Losses	-	4.8TCr	3.14TCr	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-1.67Cr	-7.64Cr	-18Cr
Stock-Based Compensation (CF)	124.75Cr	161.03Cr	224.41Cr	268.23Cr	393.98Cr
Net (Increase) Decrease in Loans Originated / Sold - Operating	-	-	-	-	-
Change in Trading Asset Securities	-	-	-	-	-1.43TCr
Change in Accounts Payable	132.89Cr	286.12Cr	292.93Cr	611.91Cr	-186Cr
Change in Other Net Operating Assets (Collected)	-9.63TCr	-50TCr	-57TCr	-92TCr	-93TCr
Other Operating Activities	-1.64TCr	1.02TCr	-951.9Cr	-972.37Cr	1.21TCr
Cash from Operations	-880.95Cr	-37TCr	-42TCr	-73TCr	-68TCr
Capital Expenditure	-131.66Cr	-375.55Cr	-482.85Cr	-603.62Cr	-584.06Cr
Sale of Property, Plant, and Equipment	11Cr	19Cr	20Cr	39Cr	36Cr
Purchase / Sale of Intangible Assets	-177.83Cr	-258.62Cr	-395.47Cr	-434.16Cr	-497.76Cr
Investment in Marketable and Equity Securities, Total	-357.14Cr	6.56TCr	-10TCr	-7.12TCr	-1.72TCr
Other Investing Activities, Total	226.7Cr	400.58Cr	635.37Cr	943.99Cr	1.28Cr
Cash from Investing	-428.54Cr	6.35TCr	-10TCr	-7.17TCr	-2.77TCr
Short Term Debt Issued, Total	-	4.7TCr	7.92TCr	22TCr	8.79TCr
Long-Term Debt Issued, Total	4.94TCr	41TCr	67TCr	73TCr	85TCr
Total Debt Issued	4.94TCr	46TCr	75TCr	95TCr	94TCr
Long-Term Debt Repaid, Total	-7.46TCr	-18TCr	-37TCr	-35TCr	-39TCr
Total Debt Repaid	-7.46TCr	-18TCr	-37TCr	-35TCr	-39TCr
Issuance of Common Stock	103.21Cr	172.9Cr	158.13Cr	9.07TCr	1.25TCr
Common Dividends Paid	-2.74Cr	-602.63Cr	-1.21TCr	-1.81TCr	-2.23TCr
Common & Preferred Stock Dividends Paid	-2.74Cr	-602.63Cr	-1.21TCr	-1.81TCr	-2.23TCr
Other Financing Activities, Total	4.25TCr	4.78TCr	14TCr	15TCr	17TCr
Cash from Financing	1.83TCr	32TCr	51TCr	82TCr	71TCr
Net Change in Cash	516.65Cr	1.56TCr	-1.83TCr	2.48TCr	-392.05Cr
Supplemental Items
Cash Interest Paid	-	-	-	17TCr	22TCr
Cash Income Tax Paid (Refund)	1.48TCr	2.59TCr	3.97TCr	5.1TCr	5.95TCr
Net Debt Issued / Repaid	-2.52TCr	28TCr	38TCr	60TCr	55TCr

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.63	3.66	4.72	4.44	3.99
Return On Equity %	12.77	17.43	23.46	22.05	19.11
Return on Common Equity	12.77	17.43	23.46	22.05	19.19
Margin Analysis
Gross Profit Margin %	88.19	89.24	92.64	93.89	92.98
SG&A Margin	23.12	22.13	21.07	20.22	21.58
Income From Continuing Operations Margin %	39.13	41.13	44.77	45.69	45.33
Net Income Margin %	39.13	41.13	44.77	45.69	44.94
Net Avail. For Common Margin %	39.13	41.13	44.77	45.69	44.94
Normalized Net Income Margin	33.19	34.85	37.79	38.16	36.95
Asset Turnover
Asset Turnover	0.07	0.09	0.11	0.1	0.09
Short Term Liquidity
Current Ratio	2.96	2.34	2.42	2.36	2.47
Quick Ratio	2.88	2.33	2.39	2.3	2.39
Operating Cash Flow to Current Liabilities	-0.02	-0.44	-0.4	-0.5	-0.39
Long Term Solvency
Total Debt/Equity	288	308.9	317.47	305.49	294.16
Total Debt / Total Capital	74.23	75.54	76.05	75.34	74.63
LT Debt/Equity	210.22	191.25	210.36	196.97	191.51
Long-Term Debt / Total Capital	54.18	46.77	50.39	48.58	48.59
Total Liabilities / Total Assets	78.48	79.43	80.24	79.59	78.77
Tier 1 Capital Ratio %	25.11	24.75	23.2	21.51	21.09
Total Capital Ratio %	28.31	27.22	24.97	22.52	21.93
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-12.99	50.94	50.39	23.21	16.75
Gross Profit, 1 Yr. Growth %	-15.78	52.7	55.34	24.89	15.6
Earnings From Cont. Operations, 1 Yr. Growth %	-16.03	59.02	63.74	25.58	16.11
Net Income, 1 Yr. Growth %	-16.03	59.02	63.74	25.58	15.13
Normalized Net Income, 1 Yr. Growth %	-18.09	58.83	63.1	24.35	13.28
Diluted EPS Before Extra, 1 Yr. Growth %	-18.04	58.62	63.72	24.48	13.65
Common Equity, 1 Yr. Growth %	14.2	18.4	24.38	41.06	26.07
Total Assets, 1 Yr. Growth %	4.34	23.93	29.52	36.52	24.06
Tangible Book Value, 1 Yr. Growth %	14.01	18.19	24.08	41.19	26.13
Cash From Operations, 1 Yr. Growth %	-96.39	4.49T	13.62	72.78	-2.42
Capital Expenditures, 1 Yr. Growth %	-66.82	170.71	28.57	24.23	-3.24
Dividend Per Share, 1 Yr. Growth %	0	100	50	20	22.22
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.46	14.73	50.68	36.03	20.09
Gross Profit, 2 Yr. CAGR %	-5.28	13.55	54.41	39.18	20.32
Earnings From Cont. Operations, 2 Yr. CAGR %	5.18	15.55	61.36	43.39	20.75
Net Income, 2 Yr. CAGR %	5.18	15.55	61.36	43.39	20.24
Normalized Net Income, 2 Yr. CAGR %	-1.44	14.06	60.95	42.54	18.73
Diluted EPS Before Extra, 2 Yr. CAGR %	3.04	14.02	61.15	42.76	18.94
Common Equity, 2 Yr. CAGR %	36.91	16.28	21.36	32.46	33.36
Total Assets, 2 Yr. CAGR %	17.5	13.7	26.69	32.97	30.14
Tangible Book Value, 2 Yr. CAGR %	36.9	16.08	21.1	32.36	33.45
Cash From Operations, 2 Yr. CAGR %	-82.59	23.16	622.5	40.06	27.22
Capital Expenditures, 2 Yr. CAGR %	-33.72	-2.71	86.56	26.78	9.64
Dividend Per Share, 2 Yr. CAGR %	29.1	41.42	73.21	34.16	21.11
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.53	12.91	25.57	40.84	29.39
Gross Profit, 3 Yr. CAGR %	9.59	11.16	26.27	43.8	30.95
Earnings From Cont. Operations, 3 Yr. CAGR %	20.98	20.72	29.79	48.42	33.65
Net Income, 3 Yr. CAGR %	20.98	20.72	29.79	48.42	33.28
Normalized Net Income, 3 Yr. CAGR %	16	15.55	28.5	47.65	32.06
Diluted EPS Before Extra, 3 Yr. CAGR %	18.46	18.98	28.63	47.86	32.31
Common Equity, 3 Yr. CAGR %	32.56	30.44	18.92	27.6	30.3
Total Assets, 3 Yr. CAGR %	26.47	19.59	18.74	29.89	29.93
Tangible Book Value, 3 Yr. CAGR %	32.53	30.36	18.69	27.46	30.25
Cash From Operations, 3 Yr. CAGR %	-65.01	8.41	19.96	348.36	22.48
Capital Expenditures, 3 Yr. CAGR %	-0.82	7.81	6.76	63.25	15.86
Dividend Per Share, 3 Yr. CAGR %	35.72	49.38	44.22	53.26	30.06
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	22.08	24.09	25.85	21.65	23.32
Gross Profit, 5 Yr. CAGR %	19.05	21.3	25.76	21.74	23.82
Earnings From Cont. Operations, 5 Yr. CAGR %	28.15	30.79	35.75	29.32	26.09
Net Income, 5 Yr. CAGR %	28.15	30.79	35.75	29.32	25.88
Normalized Net Income, 5 Yr. CAGR %	25	27.46	32.23	25.61	24.48
Diluted EPS Before Extra, 5 Yr. CAGR %	25.04	28.02	33.97	27.97	24.67
Common Equity, 5 Yr. CAGR %	37.81	35.41	27.96	31.24	24.5
Total Assets, 5 Yr. CAGR %	29.57	27.23	26.55	24.78	23.18
Tangible Book Value, 5 Yr. CAGR %	37.75	35.35	27.83	31.15	24.39
Cash From Operations, 5 Yr. CAGR %	-38.32	28.82	15.43	20.15	22.79
Capital Expenditures, 5 Yr. CAGR %	6.64	20.29	29.04	15.03	8.04
Dividend Per Share, 5 Yr. CAGR %	31.95	40.91	49.63	43.1	34.49