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BAJFINANCE - Bajaj Finance

📊 NSE: BAJFINANCE 🏢 Finance & Investments 📅 Last Updated: 12/13/2025 18:54

📢 Recent Corporate Announcements

Bajaj Finance Q4 FY26: AUM Crosses ₹5 Lakh Cr Milestone; PAT Grows 27% to ₹5,660 Cr

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 29 Apr 2026, 05:25 PM

Bajaj Finance delivered a strong performance in Q4 FY26, with consolidated AUM crossing the ₹5 lakh crore milestone, representing a 22% YoY growth. Profit After Tax (before one-time actions) rose 27% to ₹5,660 crore, driven by a 20% increase in new loans booked and steady NIMs. Asset quality remains robust with Net NPA at 0.41% and a high Provision Coverage Ratio of 60% on Stage 3 assets. The company is also making significant strides in its AI transformation (FINAI), which is expected to drive further operational efficiencies in FY27.

Consolidated AUM reached ₹509,975 crore, growing 22% YoY and adding ₹25,498 crore in Q4 alone.
Profit Before Tax (PBT) grew 26% YoY to ₹7,552 crore (excluding one-time actions).
Customer franchise expanded to 119.33 million, with 3.93 million new customers added during the quarter.
Asset quality remains stable with GNPA at 1.01% and NNPA at 0.41%, while ROE stood at a healthy 20.0%.
Bajaj Housing Finance (BHFL) AUM grew 23% YoY to ₹140,706 crore with a PAT growth of 20%.

💡 Investors should maintain a positive outlook as the company continues to demonstrate superior execution with 20%+ growth across key metrics and stable asset quality. The aggressive AI integration (FINAI) strategy is a key monitorable that could further enhance profitability and lower opex in the coming quarters.

Bajaj Finance Re-appoints Pramit Jhaveri as Independent Director for 5-Year Second Term

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 29 Apr 2026, 05:12 PM

Bajaj Finance has approved the re-appointment of Pramit Jhaveri as a Non-executive Independent Director for a second consecutive term of five years, starting August 1, 2026. Jhaveri is a veteran banker who served as the CEO of Citibank India for nine years between 2010 and 2019 and has over 32 years of experience in the financial sector. The re-appointment is subject to shareholder approval via a special resolution. His continued presence on the board ensures leadership continuity and provides the company with deep domain expertise in banking and risk management.

Re-appointment of Pramit Jhaveri for a second 5-year term effective from August 1, 2026, to July 31, 2031
Jhaveri brings 32 years of banking experience, including a tenure as CEO of Citibank India from 2010 to 2019
The appointment requires shareholder approval through a special resolution as per SEBI regulations
He currently serves as an Independent Director on the boards of Bajaj Finserv and Larsen & Toubro

💡 Investors should view this as a positive sign of governance stability and the retention of high-quality independent oversight. No immediate action is required as this is a routine re-appointment of a seasoned professional.

Bajaj Finance Re-appoints Pramit Jhaveri as Independent Director for 5-Year Term

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 29 Apr 2026, 05:09 PM

Bajaj Finance has approved the re-appointment of Pramit Jhaveri as a Non-executive Independent Director for a second five-year term starting August 1, 2026. Jhaveri is a seasoned banking professional who served as the CEO of Citibank India from 2010 to 2019 and has over 32 years of industry experience. The re-appointment is subject to shareholder approval via a special resolution and will extend his tenure until July 31, 2031. His continued involvement is expected to provide strategic stability and deep financial expertise to the board.

Pramit Jhaveri re-appointed as Independent Director for a second 5-year term starting August 1, 2026.
Jhaveri served as the CEO of Citibank India for 9 years (2010-2019) during a 32-year banking career.
The appointment is valid until July 31, 2031, pending shareholder approval via special resolution.
He currently holds board positions at Bajaj Finserv and Larsen & Toubro, and is an advisor to Premji Invest.

💡 Investors should welcome this move as it ensures continuity of high-caliber expertise on the board. No immediate portfolio changes are necessary based on this routine governance update.

Rajiv Bajaj to Step Down as Non-Executive Director of Bajaj Finance Effective July 30, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 29 Apr 2026, 05:05 PM

Bajaj Finance has announced that Shri Rajiv Bajaj will step down from his position as a Non-Executive Director. He has expressed his willingness to not seek re-election at the upcoming Annual General Meeting (AGM) scheduled for July 30, 2026. The board meeting held on April 29, 2026, formally accepted this transition and acknowledged his long-term contributions to the company. This move represents a planned change in the board's composition for the leading NBFC.

Shri Rajiv Bajaj (DIN: 00018262) to cease being a Non-Executive Director at the close of business on July 30, 2026.
The board meeting confirming the transition was held on April 29, 2026, between 1:45 p.m. and 3:50 p.m.
The director opted not to offer himself for re-election at the ensuing Annual General Meeting.
The company has formally recorded appreciation for his service during his long association with the firm.

💡 This is a routine board-level transition and is unlikely to impact the company's daily operations or financial performance. Investors should continue to monitor the company's growth trajectory and credit quality metrics.

Bajaj Finance Recommends ₹6 Dividend per Share; Sets AGM for July 30, 2026

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 29 Apr 2026, 04:52 PM

Bajaj Finance has recommended a final dividend of ₹6 per equity share (600%) for the financial year ended March 31, 2026. This payout includes a special dividend of ₹0.60 per share derived from exceptional gains on the sale of Bajaj Housing Finance Limited (BHFL) shares. The company has fixed June 30, 2026, as the record date for dividend eligibility, with payment expected around August 3, 2026. Additionally, the board approved the audited FY26 financial results and scheduled the 39th AGM for July 30, 2026.

Recommended final dividend of ₹6 per equity share of face value ₹1 (600% payout)
Includes a special dividend of ₹0.60 per share from BHFL share sale gains
Record date for dividend eligibility is fixed as June 30, 2026
39th Annual General Meeting (AGM) scheduled for July 30, 2026
Audited financial results for FY26 approved with an unmodified audit opinion

💡 Investors seeking dividend income should ensure they hold the stock before the record date of June 30, 2026. The special payout reflects a positive trend of returning non-core gains to shareholders.

Bajaj Finance Recommends Rs 6 Dividend; Sets June 30, 2026, as Record Date

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Apr 2026, 04:46 PM

Bajaj Finance has recommended a final dividend of Rs 6 per equity share (600% of face value) for the financial year ended March 31, 2026. This payout includes a special dividend component of Rs 0.60 per share resulting from exceptional gains on the sale of Bajaj Housing Finance Limited shares. The company has fixed June 30, 2026, as the record date to determine shareholder eligibility for this payout. Pending approval at the Annual General Meeting on July 30, 2026, the dividend is expected to be credited by August 3, 2026.

Recommended final dividend of Rs 6 per equity share of face value Re 1 (600%)
Includes a special payout of Rs 0.60 per share from BHFL share sale gains
Record date for dividend eligibility fixed as June 30, 2026
Dividend payment scheduled for credit on or about August 3, 2026
39th Annual General Meeting scheduled for July 30, 2026

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date to be eligible for the Rs 6 per share payout. The inclusion of a special dividend reflects the company's intent to distribute non-recurring gains to shareholders.

Bajaj Finance Reports FY26 PAT of ₹17,804 Cr; Recommends ₹6 Dividend per Share

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 29 Apr 2026, 04:40 PM

Bajaj Finance reported a steady growth in standalone net profit for FY26, reaching ₹17,803.87 crore compared to ₹16,661.50 crore in the previous year. The company's total revenue from operations surged by 19.4% to ₹69,850.79 crore, driven by strong interest income. A final dividend of ₹6 per share has been recommended, reflecting consistent shareholder returns despite a rise in impairment costs. The results also include a one-time gain of ₹1,416.38 crore from the sale of subsidiary shares.

Standalone Net Profit for FY26 grew by 6.8% YoY to ₹17,803.87 crore.
Total Revenue from operations increased to ₹69,850.79 crore from ₹58,523.57 crore in FY25.
Board recommended a final dividend of ₹6 per equity share for the financial year ended March 31, 2026.
Impairment on financial instruments rose significantly to ₹9,289.84 crore, up from ₹7,026.69 crore YoY.
Basic Earnings Per Share (EPS) for the full year stood at ₹28.65.

💡 Investors should find the steady profit growth and dividend payout encouraging for long-term holding. However, the increase in impairment costs should be monitored closely to assess future asset quality trends.

Bajaj Finance Raises Rs 2,004.31 Crore via Private Placement of NCDs at 7.77% Coupon

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 17 Apr 2026, 01:46 PM

Bajaj Finance Limited has successfully allotted 2,00,400 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The issue raised a total of Rs 2,004.31 crore with a face value of Rs 1 lakh per NCD. These instruments carry a competitive coupon rate of 7.77% per annum and have a tenure of 1,096 days, maturing on April 17, 2029. This fundraising activity is part of the company's regular operations to maintain liquidity and support its lending business.

Total fundraise of Rs 2,004.31 crore through the allotment of 2,00,400 NCDs
Coupon rate fixed at 7.77% p.a. with annual interest payment frequency
Instrument tenure is 1,096 days (3 years) with maturity scheduled for April 17, 2029
Secured by a first pari-passu charge on book debts and loan receivables with 1.0x cover
The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited

💡 This is a routine debt issuance for a large-scale NBFC like Bajaj Finance; investors should monitor the company's ability to maintain its cost of funds. No immediate action is required as this supports the company's ongoing lending operations and capital structure.

Bajaj Finance Schedules Q4 FY26 Earnings Conference Call for April 29, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 13 Apr 2026, 07:12 PM

Bajaj Finance has scheduled its earnings conference call for the quarter and financial year ended March 31, 2026, on April 29, 2026, at 6:00 PM IST. The call will feature key management personnel including Vice Chairman & MD Rajeev Jain and CFO Sandeep Jain. This is a standard procedure following the conclusion of the fiscal year to discuss financial performance and future outlook. Investors and analysts can participate via the provided dial-in numbers or the Diamond Pass link.

Conference call scheduled for Wednesday, April 29, 2026, at 18:00 IST.
Management participants include Vice Chairman & MD Rajeev Jain and CFO Sandeep Jain.
The call will address financial results for the quarter and full year ended March 31, 2026.
Universal dial-in numbers provided: +91-22-6280 1366 and +91-22-7115 8267.

💡 Investors should mark the date to gain insights into the company's AUM growth and asset quality trends. No immediate action is required as this is a routine notification of an upcoming event.

Bajaj Finance to Close Trading Window from April 1, 2026, for Q4 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Mar 2026, 07:45 PM

Bajaj Finance Limited has announced the closure of its trading window for designated persons starting April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the audited standalone and consolidated financial results for the quarter and financial year ending March 31, 2026. The window will remain closed until 48 hours after the results are officially announced. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure starts from Wednesday, April 1, 2026.
Restriction applies to designated persons and their immediate relatives/dependents.
Window to remain closed until 2 days after the declaration of Q4 and FY26 audited results.
Board meeting date for financial results consideration is yet to be announced.

💡 This is a routine regulatory filing and requires no immediate action from retail investors. Monitor for the upcoming board meeting date announcement to track the company's Q4 and full-year performance.

Bajaj Finance Approves Issue of 34.72 Lakh Equity Shares Under ESOP Scheme

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 23 Mar 2026, 04:21 PM

Bajaj Finance Limited has announced the issuance of 3,472,439 equity shares to the BFL Employee Welfare Trust. These shares, with a face value of Re. 1 each, are being issued under the company's Employee Stock Option Scheme, 2009. The move is part of the company's ongoing employee compensation and retention strategy. While this results in a marginal increase in the total paid-up capital, it is a standard procedure for large financial institutions.

Issuance of 3,472,439 equity shares approved by the Board of Directors.
Shares issued at a face value of Re. 1 per share to the BFL Employee Welfare Trust.
The issuance is conducted under the BFL Employee Stock Option Scheme, 2009.
Board meeting concluded on 23 March 2026 at 4:10 p.m. following a 2:15 p.m. start.

💡 This is a routine corporate action with minimal impact on share price. Investors should treat this as a standard administrative update regarding employee compensation.

Bajaj Finance Designates Tushar Deb as Senior Management Personnel for Debt Management

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 17 Mar 2026, 08:58 PM

Bajaj Finance has announced the classification of Mr. Tushar Deb as Senior Management Personnel effective April 1, 2026. Mr. Deb, currently Executive Vice President - DMS, has been with the company for 12.5 years and possesses over 25.5 years of total industry experience. He will lead the entire Debt Management function, covering B2B, B2C, and retail portfolios across urban and rural markets. This internal elevation ensures leadership continuity in a critical function like debt recovery and compliance.

Mr. Tushar Deb elevated to Senior Management Personnel effective April 1, 2026
Brings 25.5 years of experience in consumer finance and retail lending
12.5-year tenure at Bajaj Finance ensures strong institutional continuity
Will head Debt Management across B2B, B2C, and retail portfolios
Previous experience includes leadership roles at HSBC, Barclays, and Standard Chartered

💡 This is a routine management update reflecting internal talent progression. No immediate action is required as it signifies stability in the company's debt management operations.

Bajaj Finance to Hold Virtual Institutional Investor Meetings on March 19, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Mar 2026, 07:13 PM

Bajaj Finance Limited has scheduled group meetings with institutional investors and various funds for March 19, 2026. The meetings will be conducted via virtual mode from Pune, Maharashtra, as per the company's regulatory filing. This disclosure is a standard requirement under Regulation 30 of the SEBI (LODR) Regulations, 2015. While the schedule is set, the company has cautioned that it may change due to unforeseen exigencies.

Group meetings with institutional investors and funds scheduled for March 19, 2026.
The interaction will be conducted through a virtual platform.
Compliance filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements).
The schedule is subject to change based on investor or company exigencies.

💡 No immediate action is required as this is a routine disclosure. Investors should watch for any subsequent investor presentations or transcripts that may be released following the meetings.

Bajaj Finance Raises Rs. 2,500.20 Crore via Private Placement of Secured NCDs

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 20 Feb 2026, 01:14 PM

Bajaj Finance has successfully allotted 2,50,000 Secured Redeemable Non-Convertible Debentures (NCDs) to raise Rs. 2,500.20 crore. The fundraise is split into two options: Rs. 1,000.01 crore at a 7.40% coupon and Rs. 1,500.19 crore at a 7.55% coupon. These instruments have tenures of approximately 3 years and 5 years respectively. The capital raised will likely support the company's lending operations and strengthen its balance sheet.

Total allotment of 2,50,000 NCDs with a face value of Rs. 1 Lakh each aggregating to Rs. 2,500.20 crore.
Option I: Rs. 1,000.01 crore raised at 7.40% p.a. with a tenure of 1,116 days maturing in March 2029.
Option II: Rs. 1,500.19 crore raised at 7.55% p.a. with a tenure of 1,826 days maturing in February 2031.
The debentures are secured by a first pari-passu charge on book debts and loan receivables with at least 1.0x cover.
The securities are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

💡 Investors should view this as a positive development as it secures long-term funding at competitive rates for the NBFC. No immediate action is required, but this supports the company's growth trajectory in the lending space.

Bajaj Finance Raises Rs 500 Crore via Secured NCDs at 7.31% Coupon

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 12 Feb 2026, 12:33 PM

Bajaj Finance has successfully allotted 50,000 secured redeemable non-convertible debentures (NCDs) on a private placement basis to raise Rs 500 crore. The NCDs carry a fixed coupon rate of 7.31% per annum with a tenure of 729 days, maturing on February 11, 2028. This fundraise is part of the company's regular debt capital management to support its ongoing lending business. The issue is secured by a first pari-passu charge on the company's loan receivables with a minimum cover of 1.00 time.

Total fundraise of Rs 500 crore through the allotment of 50,000 NCDs
Fixed coupon rate of 7.31% p.a. with annual interest payment frequency
Tenure of 729 days with maturity scheduled for February 11, 2028
Secured by first pari-passu charge on book debts and loan receivables
NCDs to be listed on the Wholesale Debt Market Segment of BSE Limited

💡 This is a routine fundraise for a large NBFC like Bajaj Finance and indicates stable access to debt markets at competitive rates. Investors should continue to monitor the company's overall cost of borrowing and net interest margins in future earnings reports.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated Assets Under Management (AUM) grew 24% YoY to INR 462,261 Cr in Q2 FY26. MSME growth moderated to 18% due to a risk-first approach. New business lines (gold loans, new car loans, CV, and tractors) contributed 3% to overall AUM growth. Subsidiary BHFL saw AUM growth of 24%, while BFSL AUM grew by 40%. Net Interest Income (NII) for FY25 increased by 23% to INR 36,393 Cr.

Geographic Revenue Split

Not disclosed in available documents, though the company operates as an 'omnipresent' financial services provider across India with plans to add 900 more branches by March 2027.

Profitability Margins

Net Total Income (NTI) grew 24% to INR 44,954 Cr in FY25. Profit Before Tax (PBT) increased 14% to INR 22,080 Cr. Return on Assets (ROA) was stable at ~4.3% (annualized) for Q1 FY26 compared to 4.0% a year prior. Return on Equity (ROE) remained steady as per Q2 FY26 management commentary.

EBITDA Margin

Pre-impairment operating profit increased by 25% to INR 30,028 Cr in FY25. Opex to Net Total Income (NTI) stood at 33%, reflecting efficient cost management despite a 21% increase in total operating expenses to INR 14,926 Cr.

Capital Expenditure

Not disclosed in absolute INR Cr for physical infrastructure, but the company is investing heavily in 'FinAI' transformation over a 15-18 month horizon to become a future-ready AI financial services company.

Credit Rating & Borrowing

Maintains a strong credit profile with CRISIL Ratings reflecting its position as a large retail NBFC. Consolidated average cost of funds for FY25 was 7.97%, with an exit cost of 7.87% as of March 31, 2025. Management lowered cost of fund guidance by 5 basis points for the full year.

⚙️ Operational Drivers

Raw Materials

Capital/Debt represents 100% of the 'raw material' for lending operations. Borrowings stood at INR 361,249 Cr as of March 31, 2025.

Import Sources

Sources include domestic markets and international markets. The company raised approximately USD 1 billion in fully hedged External Commercial Borrowings (ECB) as term loans in FY25.

Key Suppliers

Multiple domestic and international banks for term loans and ECBs, and retail/institutional investors for NCDs and deposits.

Capacity Expansion

Current branch network is expanding with 900 more branches planned by March 2027. 500 existing branches are being converted into gold loan branches to pivot from cost centers to profit centers.

Raw Material Costs

Cost of funds (interest expense) is the primary cost. Average cost was 7.97% in FY25. Management aims to maintain NIMs by passing incremental 27 bps benefits to customers.

Manufacturing Efficiency

Operational efficiency is measured by Opex to NTI, which was 33% in FY25. FinAI deployment is expected to render branch staffing surplus, allowing reallocation to higher-value tasks.

Logistics & Distribution

Distribution is handled via the Bajaj Finserv App (70.57 million users) and physical branches. Distribution costs are captured within the 33% Opex to NTI ratio.

📈 Strategic Growth

Expected Growth Rate

24-26%

Growth Strategy

Achieved through a 'FinAI' transformation to enhance customer experience, aggressive expansion into gold loans (converting 500 branches), and scaling new lines like new car loans, CV, and tractor financing which grew 3% in Q2. The company aims for 200 million consumers and a 3-4% share of total credit in India.

Products & Services

Consumer durable loans, personal loans, MSME loans, gold loans, new and used car finance, commercial lending, mortgages (via BHFL), and securities trading (via BFSL).

Brand Portfolio

Bajaj Finance, Bajaj Finserv, Bajaj Housing Finance Limited (BHFL), Bajaj Financial Securities Limited (BFSL).

New Products/Services

Gold loans, new car loans, CV, and tractor loans are scaling up. FinAI transformation is expected to launch new metrics and services within 15-18 months.

Market Expansion

Adding 900 branches by March 2027 and deepening penetration in rural B2C and MFI segments, which were recently upgraded from 'yellow' to 'green' risk status.

Market Share & Ranking

Aims to be amongst the top 5 players in every business line and a top 20 most profitable company in India. Currently one of the largest retail-focused NBFCs.

Strategic Alliances

Strategic importance to parent Bajaj Finserv Ltd and ultimate holding company Bajaj Holdings and Investments Ltd (BHIL) provides financial and operational synergies.

🌍 External Factors

Industry Trends

Shift toward 'omnipresent' financial services (App, Web, Social). The industry is evolving toward AI-first models; BFL is positioning itself to be future-ready within 18 months to dominate 4-5% of retail credit.

Competitive Landscape

Faces 'heightened competitive intensity' in the mortgage segment (BHFL) and portfolio attrition, requiring aggressive customer acquisition (94,000 new customers in BFSL in Q2).

Competitive Moat

Moat built on a massive customer franchise (101.82M), data analytics for risk management, and a diversified product suite. Sustainability is driven by the 'risk-first' culture and low NPA levels (0.96% Gross).

Macro Economic Sensitivity

Earnings are susceptible to volatility in credit costs during macroeconomic stress. FY25 impairment increased 72% YoY, reflecting sensitivity to economic cycles.

Consumer Behavior

Increasing adoption of digital platforms, with 70.57 million customers now on the Bajaj Finserv App.

Geopolitical Risks

Not disclosed as a primary risk, though global interest rate trends affect the cost of ECB borrowings.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI regulations for NBFCs. The captive 2-wheeler and 3-wheeler finance business is being phased out as per plan to strengthen asset quality trends from FY27 onwards.

Taxation Policy Impact

Not specifically detailed, but the company reported a PBT of INR 22,080 Cr for FY25.

⚠️ Risk Analysis

Key Uncertainties

Credit cost volatility is the primary uncertainty, with FY25 impairment rising 72%. Potential impact is a reduction in PAT growth if credit costs exceed the 1.95% guided upper limit.

Geographic Concentration Risk

Not disclosed, but the company is expanding its physical footprint by 900 branches to reduce concentration.

Third Party Dependencies

Reducing dependency on Third Party Loans (3PL) to improve portfolio performance; urban 3PL cut from 13% to 4.8%.

Technology Obsolescence Risk

Mitigated by the FinAI transformation project, aiming to prevent obsolescence by becoming an AI-first financial entity within 15-18 months.

Credit & Counterparty Risk

Maintains industry-leading asset quality with Net NPA at 0.44%. Adjusted networth to NNPA ratio is healthy at 47 times, providing a strong buffer against losses.