Financials Bajaj Finserv Ltd.

Equities

BAJAJFINSV

INE918I01026

Consumer Lending

Delayed NSE India S.E. 01:52:11 2024-04-24 am EDT 5-day change 1st Jan Change
1,647 INR +1.60% Intraday chart for Bajaj Finserv Ltd. +3.17% -2.45%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,119,849 730,631 1,538,636 2,714,956 2,017,301 2,605,777 - -
Enterprise Value (EV) 1 1,119,849 730,631 1,538,636 2,714,956 2,017,301 5,450,488 3,649,465 3,563,088
P/E ratio 34.8 x 21.7 x 34.4 x 59.6 x 115 x 31.5 x 23.9 x 18.5 x
Yield 0.04% 0.11% 0.03% 0.02% 0.06% 0.07% 0.1% 0.11%
Capitalization / Revenue 2.63 x 1.34 x 2.54 x 3.97 x 2.89 x 2.88 x 2.27 x 1.88 x
EV / Revenue 2.63 x 1.34 x 2.54 x 3.97 x 2.89 x 6.02 x 3.18 x 2.56 x
EV / EBITDA 6.74 x 3.29 x - - - 24.9 x 13.8 x 11.2 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 4.71 x 2.33 x 4.29 x 6.75 x 4.35 x 4.27 x 3.68 x 3.15 x
Nbr of stocks (in thousands) 1,591,361 1,591,373 1,591,374 1,591,374 1,592,815 1,607,413 - -
Reference price 2 703.7 459.1 966.9 1,706 1,266 1,621 1,621 1,621
Announcement Date 5/16/19 5/21/20 4/28/21 4/28/22 4/27/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 426,040 543,515 605,916 684,390 698,706 905,585 1,146,712 1,389,523
EBITDA 1 166,112 222,117 - - - 218,704 264,323 318,808
EBIT 1 163,835 217,549 158,412 160,740 200,011 266,609 336,567 411,296
Operating Margin 38.46% 40.03% 26.14% 23.49% 28.63% 29.44% 29.35% 29.6%
Earnings before Tax (EBT) 1 81,547 83,017 98,623 112,706 168,111 213,214 276,272 347,872
Net income 1 32,190 33,691 44,705 45,568 64,173 78,906 104,030 131,897
Net margin 7.56% 6.2% 7.38% 6.66% 9.18% 8.71% 9.07% 9.49%
EPS 2 20.23 21.17 28.09 28.63 11.00 51.42 67.94 87.68
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 5/16/19 5/21/20 4/28/21 4/28/22 4/27/23 - - -
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
Net sales - - - - - 188,617 - - - - - 221,039 263,748 237,638
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 1/20/21 4/28/21 7/21/21 10/28/21 1/20/22 4/28/22 7/28/22 10/21/22 1/30/23 4/27/23 7/27/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 2,844,711 1,043,688 957,312
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - 13.01 x 3.949 x 3.003 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 14.6% 12.2% 13.3% 12% 14.8% 18.1% 19.2% 19.4%
ROA (Net income/ Total Assets) 1.74% 1.47% 1.68% 1.48% - 3.27% 3.05% 3.05%
Assets 1 1,850,023 2,299,590 2,657,666 3,069,359 - 2,415,487 3,410,814 4,324,492
Book Value Per Share 2 149.0 197.0 225.0 253.0 291.0 380.0 441.0 514.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 5/16/19 5/21/20 4/28/21 4/28/22 4/27/23 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
1,621 INR
Average target price
1,797 INR
Spread / Average Target
+10.85%
Consensus

Quarterly revenue - Rate of surprise

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