Bajaj Finserv Limited (BAJAJFINSV)
₹1,729.00 -0.17% last close, 16 Oct
Q2 FY27 results
📅 Next results: 03 Nov 2026 (board meeting)Bajaj Finserv Limited's board meets on 3 Nov 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q4 FY26, Bajaj Finserv's revenue was ₹38,494 Cr, and net profit ₹5,226 Cr; the operating margin was 37.7%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹38,494 | — | — |
| Operating profit | ₹14,511 | — | +4.7% |
| Net profit | ₹5,226 | — | — |
| EPS (₹) | 15.86 | — | +13.7% |
| Operating margin | 37.7% | — | — |
BAJAJFINSV delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 60.88% of the BAJAJFINSV shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.34%. That is close to its usual level. In BAJAJFINSV futures, open interest fell 1.23% while the futures price fell 0.47%: long unwinding (longs closing out).
Delivery in the last 5 sessions: 56.5% · 59.5% · 55.9% · 56.4% · 60.9%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Bajaj Finserv disclosed provisional premium figures for its unlisted insurance subsidiaries for September 2026 and H1 FY27. Bajaj Life Insurance saw total new business premium rise 39.8% YoY for the six-month period to ₹8,847.81 crore, driven sharply by group single premium surging to ₹4,492.58 crore. Meanwhile, Bajaj General Insurance reported gross direct premium underwritten (GDPI) of ₹12,798 crore up to September 2026, marking a 10.8% YoY expansion from ₹11,554 crore.
- Bajaj Life total new business premium reached ₹1,830.86 crore in September 2026 vs ₹1,374.58 crore in September 2025 (up 33.2% YoY).
- Bajaj Life H1 (up to September 2026) new business premium jumped 39.8% YoY to ₹8,847.81 crore from ₹6,327.17 crore.
- Bajaj General GDPI for September 2026 rose 6.5% YoY to ₹2,363 crore compared to ₹2,219 crore in September 2025.
- Bajaj General H1 cumulative GDPI grew 10.8% YoY to ₹12,798 crore compared to ₹11,554 crore in the previous year period.
Bajaj Finserv Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026. Issued by Registrar and Share Transfer Agent KFin Technologies Limited, the document confirms that dematerialization requests received between 1 July 2026 and 30 September 2026 were processed within the required 15-day timeline. The certificate confirms that all dematerialized certificates were properly verified, cancelled, and listed on exchanges. This represents a standard procedural filing with no operational or financial impact.
- Compliance certificate filed under Regulation 74(5) for the quarter ended 30 September 2026
- Covers the demat verification period from 1st Jul 2026 to 30th Sep 2026
- RTA KFin Technologies confirmed requests were processed within 15 days of receipt
- Issued and signed by KFin Technologies on Oct 5th, 2026
Bajaj Finserv Limited has approved the subscription of convertible warrants in its listed subsidiary, Bajaj Finance Limited, for an aggregate cash consideration not exceeding ₹5,800 crore via a preferential issue. The investment represents ~7.6% of Bajaj Finserv's TTM revenue (₹76,422 crore) and ~57% of its standalone net worth (₹10,182 crore). Bajaj Finserv currently holds a 51.30% stake in Bajaj Finance, which reported a turnover of ₹69,850.79 crore in FY26. The allotment is expected within 15 days of Bajaj Finance shareholders passing a special resolution.
- Approved subscription to convertible warrants for aggregate consideration not exceeding ₹5,800 crore
- Parent Bajaj Finserv currently holds 51.30% equity in subsidiary Bajaj Finance Limited
- Bajaj Finance reported turnover of ₹69,850.79 crore in FY26, up from ₹59,379.74 crore in FY25
- Warrant allotment to conclude within 15 days of shareholder approval at Bajaj Finance
Bajaj Finserv reported monthly business numbers for its insurance subsidiaries for August 2026. Bajaj Life Insurance registered total new business premium of ₹1,953.99 crore in August 2026, up 31.59% YoY from ₹1,484.88 crore, with YTD FY27 premium up 41.68% to ₹7,016.95 crore. Bajaj General Insurance reported gross direct premium underwritten of ₹2,291 crore for August 2026, growing 11.05% YoY from ₹2,063 crore, bringing YTD premium to ₹10,435 crore.
- Bajaj Life Insurance August 2026 new business premium grew 31.59% YoY to ₹1,953.99 crore (vs ₹1,484.88 crore in August 2025)
- Bajaj Life YTD (up to August 2026) new business premium jumped 41.68% to ₹7,016.95 crore from ₹4,952.59 crore
- Bajaj General Insurance gross direct premium underwritten for August 2026 rose 11.05% YoY to ₹2,291 crore (vs ₹2,063 crore in August 2025)
- Bajaj General Insurance YTD gross direct premium underwritten reached ₹10,435 crore, up 11.77% YoY
Bajaj Finserv Limited has submitted a regulatory disclosure informing the stock exchanges of a change in its Registered Office address. The filing is an administrative compliance requirement under listing regulations. This operational change has no bearing on the company's financials, ongoing business performance, or subsidiary operations. For reference, the company reported TTM revenue of Rs 76,422 Cr and TTM PAT of Rs 10,303 Cr.
- Filing submitted to stock exchanges on September 1, 2026 regarding change in Registered Office
- Purely administrative and procedural address update with no operational or financial impact
- Company continues normal operations across its lending, life insurance, and general insurance arms
Bajaj Finserv Limited has announced a schedule for an in-person meeting with institutional investors and funds. The group meeting is scheduled to be held in Pune, Maharashtra, on Thursday, August 20, 2026. The company confirmed that discussions will be strictly limited to publicly available information, with no unpublished price-sensitive information being shared.
- Meeting Date: Thursday, 20 August 2026
- Meeting Type: Group meetings with Institutional investors/funds
- Venue & Mode: Pune, Maharashtra (In Person)
- Scope: Discussions will pertain strictly to publicly available information
Bajaj Finserv Limited has scheduled an in-person interaction with a group of institutional investors and funds on August 12, 2026. The meeting will take place at the 'Emkay Confluence - 2026' in Mumbai. This is a routine regulatory filing under SEBI (LODR) Regulations, 2015, to inform the exchanges about upcoming management interactions. No specific financial results or new strategic initiatives were disclosed in this particular announcement.
- Interaction scheduled for 12 August 2026 in Mumbai
- Participation in the Emkay Confluence - 2026 investor conference
- Intimation filed on 7 August 2026 as per SEBI Regulation 30
- Mode of interaction confirmed as in-person with institutional funds
Bajaj Finserv reported strong monthly performance for its unlisted insurance subsidiaries for July 2026. Bajaj Life Insurance saw a significant 46% YoY increase in year-to-date (YTD) new business premium, reaching ₹5,062.96 Cr, driven largely by group single premiums. Bajaj General Insurance maintained steady growth with YTD gross direct premiums rising 12% YoY to ₹8,143 Cr. These figures indicate robust operational momentum for the company's core insurance segments, which are critical to its ₹76,422 Cr TTM revenue base.
- Bajaj Life Insurance YTD new business premium grew 45.99% YoY to ₹5,062.96 Cr from ₹3,467.72 Cr.
- Bajaj General Insurance YTD gross direct premium underwritten increased 11.98% to ₹8,143 Cr.
- Group single premium for Life Insurance nearly doubled YTD to ₹2,274.91 Cr compared to ₹1,153.19 Cr in the previous year.
- Individual non-single premium (Life Insurance) grew 15.8% YTD to ₹2,108.17 Cr.
- July 2026 monthly premium for General Insurance stood at ₹2,375 Cr, a 13% increase over July 2025.
Bajaj Finserv reported a 19% YoY growth in consolidated total income to ₹42,037 crore for Q1 FY27, with consolidated PAT rising 18% to ₹6,297 crore. The Life Insurance segment (BALIC) demonstrated significant margin expansion, with Value of New Business (VNB) growing 87% to ₹271 crore and margins reaching 15.9%. General Insurance (BAGIC) faced pressure with PAT declining to ₹478 crore from ₹660 crore YoY, impacted by lower capital gains and an elevated combined ratio of 104.7%. Management is executing a tactical slowdown in the motor segment to prioritize risk selection over volume amidst intense pricing competition.
- Consolidated PAT grew 18% YoY to ₹6,297 crore on a total income of ₹42,037 crore.
- Life Insurance VNB increased by 87% to ₹271 crore, with New Business Margins (NBM) expanding 480 bps to 15.9%.
- General Insurance GWP grew 11.3% to ₹5,789 crore, matching industry growth of 11.1%.
- BAGIC capital reduced by ₹3,515 crore through buybacks and dividends to normalize future ROE.
- Retail protection business in the life segment grew 60% YoY, now contributing 12% to retail business.
Bajaj Finserv held its 19th Annual General Meeting on July 31, 2026, where shareholders approved all five resolutions with over 99.99% majority. Key outcomes include the declaration of a ₹1.50 per share dividend for FY26 and the retirement of Rajiv Bajaj from the board as he did not seek re-appointment. The company also confirmed the re-appointment of KKC & Associates LLP as Statutory Auditors and ratified cost auditor remuneration for FY27. Total voting participation represented approximately 81.28% of the total 160.05 crore equity shares.
- Dividend of ₹1.50 per equity share (face value ₹1) approved for FY26.
- Rajiv Bajaj (DIN: 00018262) retired by rotation and did not seek re-appointment to the board.
- Statutory Auditors KKC & Associates LLP re-appointed with 99.999% shareholder approval.
- Total of 6,01,820 shareholders were eligible to vote as of the July 24, 2026 cut-off date.
- Resolution to adopt FY26 financial statements passed with 130.04 crore votes in favor.
Bajaj Finserv has released the audio recording of its earnings conference call held on July 31, 2026. The call discussed the financial results for the quarter ended June 30, 2026. This is a standard regulatory disclosure following the announcement of quarterly results. Investors can access the recording on the company's website to hear management's commentary on the quarter's performance and future outlook.
- Conference call held on July 31, 2026, at 5:15 p.m. IST
- Relates to financial results for the quarter ended June 30, 2026
- Recording available on the company's investor relations website
- Follows the presentation shared with exchanges earlier on the same day
Bajaj Finserv concluded its 19th Annual General Meeting on July 31, 2026, where shareholders approved a dividend of ₹1.50 per equity share for FY26. A notable board change occurred as Rajiv Bajaj retired as a Non-Executive Director, opting not to seek re-appointment due to commitments at Bajaj Auto. The company confirmed that its FY26 audit reports were clean with no adverse remarks. CMD Sanjiv Bajaj provided an overview of FY26 performance and the outlook for Q1 FY27 to the 1,157 members in attendance.
- Approved a dividend of ₹1.50 per equity share of face value ₹1 for the financial year ended March 31, 2026
- Rajiv Bajaj retired as Non-Executive Director, choosing not to seek re-appointment due to responsibilities at Bajaj Auto
- A total of 1,157 members attended the meeting through video conferencing
- Re-appointed KKC & Associates LLP as Statutory Auditors for the company
- Confirmed that Statutory and Secretarial Audit reports for FY26 contained no qualifications or adverse remarks
Bajaj Finserv released a comprehensive investor presentation for upcoming international meetings, highlighting its scale-up to over 180 million customers as of FY26. A key milestone achieved is the 100% ownership of its insurance subsidiaries following the acquisition of Allianz's stake. For FY26, the group reported consolidated revenue of $15.9 billion and a PAT of $1.03 billion (approx. ₹9,800 Cr). Emerging businesses are gaining traction, with the Asset Management arm reaching $3 billion in AUM and the health-tech platform covering 49 million lives under government schemes.
- Customer franchise expanded 6x from 30 million in FY16 to over 180 million in FY26
- Consolidated PAT for FY26 reached $1,037 million with a 10-year CAGR of 18%
- Insurance subsidiaries (Life and General) are now 100% owned by Bajaj Finserv after Allianz stake exit
- Bajaj Asset Management reached $3 billion in AUM, while Bajaj Finance cross-sell franchise hit 63%
- New Alternative Investment Management business is scheduled to commence operations in Q2 FY2027
Bajaj Finserv reported a 19.1% YoY increase in consolidated revenue to ₹42,037 Cr for Q1 FY27. Consolidated PAT attributable to owners grew 12.3% to ₹3,132 Cr, primarily driven by a strong 27.4% PAT growth in Bajaj Finance. However, insurance subsidiaries faced profitability pressure, with General Insurance PAT down 27.6% and Life Insurance PAT down 70.2% due to lower capital gains and GST impacts. The company's consolidated net worth reached ₹82,862 Cr, reflecting a 10.1% YoY increase.
- Consolidated Revenue increased 19.1% YoY to ₹42,037 Cr for the quarter ended June 2026
- Bajaj Finance AUM grew 23.9% to ₹5,46,944 Cr with 1.61 crore new loans booked
- Bajaj Life Insurance VNB margin improved significantly to 15.9% from 11.1% YoY
- Bajaj General Insurance GDPI growth of 11.6% was in line with industry growth
- Bajaj Housing Finance PAT grew 22.6% to ₹715 Cr with AUM reaching ₹1,49,624 Cr
Bajaj Finserv's board has approved a strategic entry into the re-insurance sector through the incorporation of a new subsidiary, pending IRDAI approval. This move aims to deepen the company's presence in the insurance value chain, complementing its existing life and general insurance businesses. Additionally, the board approved the issuance of 15,11,358 equity shares to the Bajaj Finserv ESOP Trust. The company reported TTM revenue of Rs 76,422 Cr, indicating a robust financial base for this new venture.
- Board approval granted for pursuing re-insurance business through a new subsidiary to be incorporated.
- Issuance of 15,11,358 equity shares of Re. 1 face value to the Bajaj Finserv ESOP Trust approved.
- Entry into re-insurance is subject to mandatory approval from the IRDAI and other regulatory authorities.
- The company currently manages a massive customer franchise, targeting growth from 10+ Cr in 2025 to 22+ Cr by 2030.
- Bajaj Life AUM stands at Rs 1,32,060 Cr and Bajaj General AUM at Rs 35,000 Cr as per recent context.
Financial Performance
Revenue Growth by Segment
Bajaj Finance (BFL) net total income grew 20% to INR 13,170 Cr. Bajaj General (BAGIC) Gross Written Premium (GWP) increased 9% to INR 6,413 Cr (13.6% growth excluding 1/n accounting impact). Bajaj Life (BALIC) GWP grew 28% driven by 30% renewal premium growth. Bajaj Health revenue grew 22%.
Geographic Revenue Split
The company maintains a pan-India presence with over 242,000 points of sale and 225,000 insurance agents across the country. Specific regional % splits are not disclosed in available documents.
Profitability Margins
Bajaj Life New Business Margin (NBM) expanded to 17.1% from 10.8% YoY. Bajaj General ROE remains above 20% (excluding surplus capital). Bajaj Finance PAT grew 23% to INR 4,948 Cr. Bajaj Life PAT fell 91% to INR 13 Cr due to a one-time INR 112 Cr GST impact.
EBITDA Margin
Core profitability for Bajaj Finance remains strong with a 23% PAT growth. Bajaj General combined ratio stood at 101.4%, flat YoY, impacted by higher acquisition costs in preferred business lines. Bajaj Life Value of New Business (VNB) grew 50% to INR 367 Cr.
Capital Expenditure
Bajaj Finserv has invested in 138 windmills with 65.2 MW aggregate capacity. The company launched a INR 5,000 Cr initiative 'Bajaj Beyond' for skilling 1 crore youth over 5 years. No specific quarterly CapEx INR value for Q2 FY26 was disclosed.
Credit Rating & Borrowing
Not disclosed in available documents; however, Bajaj Finance (BFL) and Bajaj Housing Finance (BHFL) are major subsidiaries with significant AUM of INR 4,62,000 Cr (up 24% YoY).
Operational Drivers
Raw Materials
Not applicable for financial services. Primary operational costs are interest expenses, acquisition costs (commissions), and technology expenses.
Key Suppliers
Not applicable for financial services. Key partners include banks and NBFCs for group protection and distribution.
Capacity Expansion
Bajaj Finance booked 1.2 Cr new loans in Q2 FY26, up 26% from 0.97 Cr. Bajaj Life AUM reached INR 1,32,060 Cr. Bajaj General AUM reached INR 35,000 Cr. Renewable energy capacity is 65.2 MW.
Raw Material Costs
Not applicable. Acquisition costs in General Insurance are a key driver, slightly impacting PAT growth (5% growth to INR 517 Cr) due to focus on preferred segments.
Manufacturing Efficiency
Bajaj Life achieved 100-125 bps margin expansion through cost optimization. Bajaj Markets demonstrated capital efficiency with no capital infusion since March 2022.
Logistics & Distribution
Distribution is driven by 7.8 Cr BFL App installs and a network of 242,000+ points of sale.
Strategic Growth
Expected Growth Rate
21-24%
Growth Strategy
Achieving growth through 'BALIC 2.0' focusing on retail protection (71% growth) and term protection (target 10% share in 2-3 years). Strategic acquisition of Allianz's 26% stake in insurance JVs to reach 100% ownership. Expansion into US and DIFC markets by 2025-2026.
Products & Services
Life insurance policies (Par, Non-par, ULIP, Term, Annuity), General insurance (Motor, Health, Preferred lines), Retail/Housing loans, and Asset Management services.
Brand Portfolio
Bajaj Finance, Bajaj Allianz (transitioning to Bajaj), Bajaj Health, Bajaj Markets, BajajTech.ai, Bajaj Finserv Securities, Bajaj Housing Finance.
New Products/Services
BajajTech.ai launched for technology services. Retail protection products grew 71% to INR 144 Cr. Group protection grew 23%.
Market Expansion
Planned US entry in 2026 and DIFC presence in 2025. Target to grow customer franchise from 10+ Cr in 2025 to 22+ Cr by 2030.
Market Share & Ranking
Bajaj General GDPI growth of 9.3% significantly outperformed the market growth of 1.8%. Bajaj Life VNB CAGR of 17% (FY20-25) is nearly 3x the industry average of 6%.
Strategic Alliances
Bajaj Group signed a Share Purchase Agreement (SPA) to acquire Allianz's 26% stake in insurance JVs. Partnered with 101 unique partners for Bajaj Markets.
External Factors
Industry Trends
Shift from ULIP-driven to multi-channel/multi-product insurers. Industry-wide persistency dips observed. Regulatory shift toward Risk-Based Capital (RBC) and IndAS implementation expected in 2-3 years.
Competitive Landscape
General insurance market is intensely price competitive. Bajaj General's 9.3% growth vs 1.8% market growth indicates strong competitive positioning.
Competitive Moat
Durable advantages include a massive distribution network (242k POS), high solvency ratios, and a diversified business model that allowed 24% AUM growth despite competitive pressures.
Macro Economic Sensitivity
Life insurance yields are sensitive to interest rate cycles; falling yields have reduced the attractiveness of Non-par guaranteed products.
Consumer Behavior
Increasing consumer expectation for digital-first experiences, addressed by 7.8 Cr BFL App installs and the Bajaj Markets discovery platform.
Geopolitical Risks
Not disclosed in available documents; focus is primarily on the Indian domestic market with planned US entry in 2026.
Regulatory & Governance
Industry Regulations
IRDAI mandated 1/n accounting for long-term products effective Oct 1, 2024. New surrender value regulations and upcoming Risk-Based Capital (RBC) norms are key regulatory headwinds.
Environmental Compliance
Targeting carbon neutrality (Scope 1 & 2) by FY32. Currently a net energy producer with 84 million units generated from wind energy.
Taxation Policy Impact
GST regulations applicable to Retail Life insurance products led to a loss of input tax credit, resulting in a INR 112 Cr impact on quarterly profitability.
Risk Analysis
Key Uncertainties
Brand transition risk following the exit of Allianz from insurance JVs. Regulatory uncertainty regarding GST and surrender charges. Persistency dips in specific insurance cohorts (impact % not specified).
Geographic Concentration Risk
Primarily concentrated in India; 100% of current revenue is domestic, with international expansion (US/DIFC) planned for 2025-2026.
Third Party Dependencies
Dependence on bank and NBFC partners for group protection growth. Bajaj Markets migrated to SFDC, indicating dependency on third-party CRM technology.
Technology Obsolescence Risk
Mitigated by migration to SFDC and cloud-native platforms. Bajaj Markets saw a planned de-growth (INR 164 Cr to INR 90 Cr) due to system migration risks.
Credit & Counterparty Risk
Bajaj Finance AUM of INR 4,62,000 Cr represents significant credit exposure; however, PAT grew 23%, indicating stable asset quality.
