BAJAJ FINSERV LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,597 INR | -3.52% |
|
-1.34% | -5.25% |
| Apr. 26 | Weak March Quarter Earnings Weigh Down Indian Equities on Friday | MT |
| Apr. 26 | Transcript : Bajaj Finserv Ltd., Q4 2024 Earnings Call, Apr 26, 2024 |
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 | 2,546,047 | - | - |
| Enterprise Value (EV) 1 | 1,119,849 | 730,631 | 1,538,636 | 2,714,956 | 2,017,301 | 2,642,346 | 3,668,524 | 3,622,447 |
| P/E ratio | 34.8 x | 21.7 x | 34.4 x | 59.6 x | 115 x | 32.4 x | 24.1 x | 20 x |
| Yield | 0.04% | 0.11% | 0.03% | 0.02% | 0.06% | 0.08% | 0.08% | 0.11% |
| Capitalization / Revenue | 2.63 x | 1.34 x | 2.54 x | 3.97 x | 2.89 x | 2.39 x | 1.97 x | 1.76 x |
| EV / Revenue | 2.63 x | 1.34 x | 2.54 x | 3.97 x | 2.89 x | 2.39 x | 2.84 x | 2.51 x |
| EV / EBITDA | 6.74 x | 3.29 x | - | - | - | 9.82 x | 14.2 x | 11.7 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 4.71 x | 2.33 x | 4.29 x | 6.75 x | 4.35 x | 4.2 x | 3.41 x | 2.94 x |
| Nbr of stocks (in thousands) | 1,591,361 | 1,591,373 | 1,591,374 | 1,591,374 | 1,592,815 | 1,593,919 | - | - |
| Reference price 2 | 703.7 | 459.1 | 966.9 | 1,706 | 1,266 | 1,597 | 1,597 | 1,597 |
| Announcement Date | 5/16/19 | 5/21/20 | 4/28/21 | 4/28/22 | 4/27/23 | 4/26/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 426,040 | 543,515 | 605,916 | 684,390 | 698,706 | 1,103,830 | 1,291,426 | 1,442,543 |
| EBITDA 1 | 166,112 | 222,117 | - | - | - | 269,006 | 259,221 | 308,690 |
| EBIT 1 | 163,835 | 217,549 | 158,412 | 160,740 | 200,011 | 260,005 | 336,567 | 411,296 |
| Operating Margin | 38.46% | 40.03% | 26.14% | 23.49% | 28.63% | 23.55% | 26.06% | 28.51% |
| Earnings before Tax (EBT) 1 | 81,547 | 83,017 | 98,623 | 112,706 | 168,111 | 213,750 | 248,280 | 327,979 |
| Net income 1 | 32,190 | 33,691 | 44,705 | 45,568 | 64,173 | 81,478 | 91,157 | 126,931 |
| Net margin | 7.56% | 6.2% | 7.38% | 6.66% | 9.18% | 7.38% | 7.06% | 8.8% |
| EPS 2 | 20.23 | 21.17 | 28.09 | 28.63 | 11.00 | 50.70 | 66.32 | 79.72 |
| 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 | 1.200 | 1.767 |
| Announcement Date | 5/16/19 | 5/21/20 | 4/28/21 | 4/28/22 | 4/27/23 | 4/26/24 | - | - |
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 | - | - | - | - | - | 188,617 | - | - | - | - | - | 221,039 | 263,748 | 237,638 | 267,509 |
| 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 | 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 | 1,122,476 | 1,076,400 |
| 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% | 18.6% | 19.9% |
| ROA (Net income/ Total Assets) | 1.74% | 1.47% | 1.68% | 1.48% | - | 3.27% | 4.8% | 3.05% |
| Assets 1 | 1,850,023 | 2,299,590 | 2,657,666 | 3,069,359 | - | 2,415,487 | 1,899,104 | 4,161,680 |
| Book Value Per Share 2 | 149.0 | 197.0 | 225.0 | 253.0 | 291.0 | 380.0 | 468.0 | 543.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 5/16/19 | 5/21/20 | 4/28/21 | 4/28/22 | 4/27/23 | 4/26/24 | - | - |
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
1,597
INR
Average target price
1,796
INR
Spread / Average Target
+12.41%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -5.25% | 30.53B | |
| -8.14% | 49.88B | |
| +63.88% | 29.08B | |
| +20.03% | 23.38B | |
| +16.97% | 17.94B | |
| -6.99% | 11.81B | |
| +21.92% | 11.27B | |
| -20.90% | 8.31B | |
| +14.34% | 8.13B | |
| +36.65% | 6.39B |
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