BAJAJ FINSERV LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,615 INR | +1.21% |
|
-0.89% | -4.20% |
| 29/04 | Nomura Adjusts Bajaj Finserv’s Price Target to INR1,850 From INR1,900, Keeps at Buy | MT |
| 26/04 | Weak March Quarter Earnings Weigh Down Indian Equities on Friday | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 11,19,849 | 7,30,631 | 15,38,636 | 27,14,956 | 20,17,301 | 25,95,972 | - | - |
| Enterprise Value (EV) 1 | 11,19,849 | 7,30,631 | 15,38,636 | 27,14,956 | 20,17,301 | 26,42,346 | 37,18,448 | 36,72,372 |
| P/E ratio | 34.8 x | 21.7 x | 34.4 x | 59.6 x | 115 x | 32.4 x | 26.3 x | 22.6 x |
| Yield | 0.04% | 0.11% | 0.03% | 0.02% | 0.06% | 0.07% | 0.11% | 0.11% |
| Capitalization / Revenue | 2.63 x | 1.34 x | 2.54 x | 3.97 x | 2.89 x | 2.39 x | 2.01 x | 1.67 x |
| EV / Revenue | 2.63 x | 1.34 x | 2.54 x | 3.97 x | 2.89 x | 2.39 x | 2.88 x | 2.36 x |
| EV / EBITDA | 6.74 x | 3.29 x | - | - | - | 9.82 x | 14.3 x | 11.9 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 4.71 x | 2.33 x | 4.29 x | 6.75 x | 4.35 x | 4.25 x | 3.11 x | 2.76 x |
| Nbr of stocks (in thousands) | 15,91,361 | 15,91,373 | 15,91,374 | 15,91,374 | 15,92,815 | 16,07,413 | - | - |
| Reference price 2 | 703.7 | 459.1 | 966.9 | 1,706 | 1,266 | 1,615 | 1,615 | 1,615 |
| Announcement Date | 16/05/19 | 21/05/20 | 28/04/21 | 28/04/22 | 27/04/23 | 26/04/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,26,040 | 5,43,515 | 6,05,916 | 6,84,390 | 6,98,706 | 11,03,830 | 12,91,426 | 15,55,577 |
| EBITDA 1 | 1,66,112 | 2,22,117 | - | - | - | 2,69,006 | 2,59,221 | 3,08,690 |
| EBIT 1 | 1,63,835 | 2,17,549 | 1,58,412 | 1,60,740 | 2,00,011 | 2,60,005 | 3,03,019 | 3,88,063 |
| Operating Margin | 38.46% | 40.03% | 26.14% | 23.49% | 28.63% | 23.55% | 23.46% | 24.95% |
| Earnings before Tax (EBT) 1 | 81,547 | 83,017 | 98,623 | 1,12,706 | 1,68,111 | 2,13,750 | 2,48,358 | 3,15,852 |
| Net income 1 | 32,190 | 33,691 | 44,705 | 45,568 | 64,173 | 81,478 | 96,766 | 1,21,405 |
| Net margin | 7.56% | 6.2% | 7.38% | 6.66% | 9.18% | 7.38% | 7.49% | 7.8% |
| EPS 2 | 20.23 | 21.17 | 28.09 | 28.63 | 11.00 | 50.70 | 61.50 | 71.59 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.2500 | 0.5000 | 0.3000 | 0.4000 | 0.8000 | 1.200 | 1.700 | 1.767 |
| Announcement Date | 16/05/19 | 21/05/20 | 28/04/21 | 28/04/22 | 27/04/23 | 26/04/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | 1,88,617 | - | - | - | - | - | 2,21,039 | 2,63,748 | 2,37,638 | 2,67,509 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 64,118 | 36,191 | 31,160 | 33,040 | 39,190 | 41,638 | - | 44,860 | 48,530 | 53,995 | - | 45,799 | - | - | - |
| Operating Margin | - | - | - | - | - | 22.08% | - | - | - | - | - | 20.72% | - | - | - |
| Earnings before Tax (EBT) 1 | 27,792 | 23,585 | 17,671 | 27,923 | 32,490 | 34,622 | 35,939 | 42,578 | - | 45,405 | 51,254 | - | - | - | - |
| Net income 1 | 12,900 | 9,791 | 8,328 | 11,221 | 12,558 | 13,461 | 13,094 | 15,569 | 17,820 | 17,690 | 19,426 | - | - | - | - |
| Net margin | - | - | - | - | - | 7.14% | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 20/01/21 | 28/04/21 | 21/07/21 | 28/10/21 | 20/01/22 | 28/04/22 | 28/07/22 | 21/10/22 | 30/01/23 | 27/04/23 | 27/07/23 | - | - | - | - |
1INR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | 28,44,711 | 11,22,476 | 10,76,400 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | 13.01 x | 4.33 x | 3.487 x |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 14.6% | 12.2% | 13.3% | 12% | 14.8% | 18.1% | 16.9% | 18.4% |
| ROA (Net income/ Total Assets) | 1.74% | 1.47% | 1.68% | 1.48% | - | 3.27% | 2.92% | 2.98% |
| Assets 1 | 18,50,023 | 22,99,590 | 26,57,666 | 30,69,359 | - | 24,15,487 | 33,13,904 | 40,73,993 |
| Book Value Per Share 2 | 149.0 | 197.0 | 225.0 | 253.0 | 291.0 | 380.0 | 519.0 | 586.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 16/05/19 | 21/05/20 | 28/04/21 | 28/04/22 | 27/04/23 | 26/04/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
1,615
INR
Average target price
1,787
INR
Spread / Average Target
+10.68%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -4.20% | 30.74B | |
| -5.52% | 50.55B | |
| +61.84% | 28.97B | |
| +22.03% | 23.48B | |
| +15.16% | 17.95B | |
| -5.26% | 11.79B | |
| +24.19% | 11.22B | |
| +16.55% | 8.17B | |
| -31.86% | 7.44B | |
| +35.28% | 6.37B |
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