Bajaj Finance Ltd (BAJFINANCE) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: 78/100 (Strong)

Business Quality 66/100

ROE (Return on Equity): 18.2%

ROCE (Return on Capital): 10.9%

Explain Methodology →

Financial Health 85/100

Debt to Equity: 0.00x

Solvency Runway: High (Interest Coverage > 8x)

Explain Methodology →

Growth Trajectory 99/100

Annual Revenue Growth: 31.2% YoY

Net Profit Growth: 26.4% YoY

Explain Methodology →

Profitability & Margins 93/100

Operating Margin (OPM): 68.2%

Net Profit Margin: 26.5%

Explain Methodology →

Cash Flow Quality 65/100

Free Cash Flow (FCF): Manageable

CFO to EBITDA Conversion: > 75% Conversion Rate

Explain Methodology →

Valuation Attractiveness 64/100

Stock P/E Multiple: 28.8x

Price to Book (P/B): 5.2x

Explain Methodology →

Price & Trend Momentum 72/100

14-Day RSI: 56.6 (Neutral/Bullish)

DMA Alignment: Trading Above 50 & 200 DMA

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Governance & Risk 85/100

Promoter Pledge: 0.0% (Clean)

Statutory Auditor Opinion: Unqualified / Clean Pass

Explain Methodology →

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.31%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 20.2%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 18.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹1,041.04

200-Day DMA ● Overlay

₹965.53

14-Day RSI ● Overlay

56.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹5.90 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

28.8x

Price / EPS

Book Value (₹) Assets

₹183.0

P/B: 5.2x

ROE (%) Quality

18.2%

Net Profit / Equity

ROCE (%) Efficiency

10.9%

EBIT / Capital

Dividend Yield Yield

0.57%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹32.93

Trailing 12M

OPM (%) Spread

68.2%

EBITDA Margin

Free Cash Flow Cash

-₹66,686 Cr

CFO - Capex

About Bajaj Finance Ltd

Website →

Bajaj Finance is one of India’s most diversified and profitable NBFCs, offering consumer lending, SME loans, commercial lending, and digital financial services.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 49.1% × Turnover: 0.85x × Leverage: 1x = ROE: 18.2%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Delivers solid shareholder returns with an ROE of 18.2%.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 5.2x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹54,985 Cr

Latest PAT

₹20,648 Cr

EPS (TTM)

₹32.93

OPM %

68.2%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Operating Profit (EBITDA)	-₹3,693 Cr	-₹3,931 Cr	-₹4,229 Cr	-₹4,420 Cr	-₹4,956 Cr	-₹5,338 Cr	-₹5,691 Cr	-₹5,865 Cr	-₹5,992 Cr	-₹6,307 Cr	-₹7,737 Cr	-₹6,553 Cr	-₹6,793 Cr
OPM %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest Expense	₹4,103 Cr	₹4,537 Cr	₹4,868 Cr	₹5,217 Cr	₹5,684 Cr	₹6,149 Cr	₹6,386 Cr	₹6,551 Cr	₹6,918 Cr	₹7,011 Cr	₹7,339 Cr	₹7,398 Cr	₹7,942 Cr
Depreciation	₹156.00 Cr	₹159.00 Cr	₹176.00 Cr	₹193.00 Cr	₹200.00 Cr	₹210.00 Cr	₹219.00 Cr	₹252.00 Cr	₹251.00 Cr	₹258.00 Cr	₹244.00 Cr	₹256.00 Cr	₹288.00 Cr
Profit before Tax (PBT)	₹4,551 Cr	₹4,758 Cr	₹4,896 Cr	₹5,105 Cr	₹5,265 Cr	₹5,401 Cr	₹5,765 Cr	₹5,647 Cr	₹6,368 Cr	₹6,608 Cr	₹5,431 Cr	₹7,410 Cr	₹8,149 Cr
Net Profit (PAT)	₹3,437 Cr	₹3,551 Cr	₹3,639 Cr	₹3,825 Cr	₹3,912 Cr	₹4,014 Cr	₹4,308 Cr	₹4,546 Cr	₹4,765 Cr	₹4,948 Cr	₹4,066 Cr	₹5,553 Cr	₹6,081 Cr
EPS in ₹	₹5.67	₹5.86	₹5.89	₹6.18	₹6.32	₹6.46	₹6.86	₹7.21	₹7.56	₹7.84	₹6.39	₹8.78	₹9.61

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Expenses	₹1,752 Cr	₹2,354 Cr	₹3,250 Cr	₹4,115 Cr	₹5,454 Cr	₹9,159 Cr	₹10,839 Cr	₹11,880 Cr	₹12,693 Cr	₹16,099 Cr	₹20,878 Cr	₹25,998 Cr	₹27,390 Cr
Operating Profit	-₹1,752 Cr	-₹2,354 Cr	-₹3,250 Cr	-₹4,115 Cr	-₹5,454 Cr	-₹9,159 Cr	-₹10,839 Cr	-₹11,880 Cr	-₹12,693 Cr	-₹16,099 Cr	-₹20,878 Cr	-₹25,998 Cr	-₹27,390 Cr
OPM %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Interest	₹2,274 Cr	₹2,959 Cr	₹3,853 Cr	₹4,696 Cr	₹6,723 Cr	₹9,608 Cr	₹9,519 Cr	₹9,848 Cr	₹12,701 Cr	₹18,886 Cr	₹24,991 Cr	₹28,899 Cr	₹29,690 Cr
Depreciation	₹36.00 Cr	₹56.00 Cr	₹71.00 Cr	₹102.00 Cr	₹144.00 Cr	₹295.00 Cr	₹325.00 Cr	₹385.00 Cr	₹485.00 Cr	₹683.00 Cr	₹881.00 Cr	₹1,009 Cr	₹1,045 Cr
Profit before Tax	₹1,357 Cr	₹1,965 Cr	₹2,817 Cr	₹3,843 Cr	₹6,179 Cr	₹7,322 Cr	₹5,992 Cr	₹9,504 Cr	₹15,528 Cr	₹19,310 Cr	₹22,080 Cr	₹25,817 Cr	₹27,598 Cr
Net Profit	₹898.00 Cr	₹1,279 Cr	₹1,836 Cr	₹2,496 Cr	₹3,995 Cr	₹5,264 Cr	₹4,420 Cr	₹7,028 Cr	₹11,508 Cr	₹14,451 Cr	₹16,779 Cr	₹19,332 Cr	₹20,648 Cr
EPS in Rs	1.79	2.37	3.34	4.32	6.91	8.75	7.33	11.61	19.01	23.35	26.77	30.56	32.62

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹50.00 Cr	₹54.00 Cr	₹109.00 Cr	₹115.00 Cr	₹115.00 Cr	₹120.00 Cr	₹120.00 Cr	₹121.00 Cr	₹121.00 Cr	₹124.00 Cr	₹124.00 Cr	₹622.00 Cr
Reserves & Surplus	₹4,750 Cr	₹7,373 Cr	₹9,491 Cr	₹15,733 Cr	₹19,582 Cr	₹32,208 Cr	₹36,798 Cr	₹43,592 Cr	₹54,251 Cr	₹76,572 Cr	₹96,569 Cr	₹1.13 Lakh Cr
Borrowings (Debt)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Total Liabilities	₹32,780 Cr	₹46,973 Cr	₹63,731 Cr	₹84,798 Cr	₹1.24 Lakh Cr	₹1.64 Lakh Cr	₹1.71 Lakh Cr	₹2.13 Lakh Cr	₹2.75 Lakh Cr	₹3.76 Lakh Cr	₹4.66 Lakh Cr	₹5.60 Lakh Cr
Fixed Assets	₹252.00 Cr	₹290.00 Cr	₹366.00 Cr	₹470.00 Cr	₹695.00 Cr	₹1,321 Cr	₹1,316 Cr	₹1,716 Cr	₹2,308 Cr	₹3,250 Cr	₹3,780 Cr	₹3,947 Cr
Total Assets	₹32,780 Cr	₹46,973 Cr	₹63,731 Cr	₹84,798 Cr	₹1.24 Lakh Cr	₹1.64 Lakh Cr	₹1.71 Lakh Cr	₹2.13 Lakh Cr	₹2.75 Lakh Cr	₹3.76 Lakh Cr	₹4.66 Lakh Cr	₹5.60 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	-₹7,064 Cr	-₹9,870 Cr	-₹10,439 Cr	-₹20,566 Cr	-₹29,062 Cr	-₹24,412 Cr	-₹807.00 Cr	-₹37,029 Cr	-₹42,112 Cr	-₹72,760 Cr	-₹67,792 Cr	-₹65,790 Cr
Cash from Investing (CFI)	-₹360.00 Cr	-₹687.00 Cr	-₹3,047 Cr	₹1,075 Cr	-₹5,379 Cr	-₹8,758 Cr	-₹429.00 Cr	₹6,347 Cr	-₹10,394 Cr	-₹7,171 Cr	-₹2,765 Cr	-₹3,389 Cr
Cash from Financing (CFF)	₹6,867 Cr	₹11,656 Cr	₹12,513 Cr	₹19,503 Cr	₹34,449 Cr	₹34,167 Cr	₹1,741 Cr	₹32,240 Cr	₹50,675 Cr	₹82,415 Cr	₹70,165 Cr	₹67,433 Cr
Free Cash Flow (FCF)	-₹7,129 Cr	-₹9,964 Cr	-₹10,587 Cr	-₹20,700 Cr	-₹29,428 Cr	-₹24,912 Cr	-₹1,105 Cr	-₹37,644 Cr	-₹42,970 Cr	-₹73,759 Cr	-₹68,837 Cr	-₹66,686 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	30	30	30	30	30	30	30	30	30	30	30	30
Inventory Days	45	45	45	45	45	45	45	45	45	45	45	45
Cash Conversion Cycle (Days)	25	25	25	25	25	25	25	25	25	25	25	25
ROCE %	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%	10.9%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹502.93 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹1,078.80

DCF Fair Value

₹502.93

Graham Number

₹368.22

Margin of Safety

-59%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹502.93

Premium / Overvalued (Margin: -59%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹489	₹485	₹481	₹476
10%	₹498	₹494	₹490	₹485
12%	₹508	₹503	₹498	₹494
14%	₹517	₹512	₹507	₹503

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹503	Fairly Valued
Benjamin Graham Number	₹368	Market Priced
Historical Sector P/E	₹724	Premium
EV / EBITDA Multiplier	₹1,133	In-Line
Free Cash Flow Yield Model	₹1,057	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

5.81 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 68.2%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

54.68%

FIIs (Foreign)

20.20%

DIIs (Domestic)

16.30%

Government

0.15%

Public / Retail

8.64%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	55.87%	54.78%	54.69%	54.70%	54.70%	54.70%	54.73%	54.73%	54.67%	54.70%	54.71%	54.68%
+ FIIs (Foreign Portfolio)	20.41%	20.92%	20.55%	21.08%	20.81%	20.79%	21.45%	21.71%	21.97%	21.49%	21.33%	20.20%
+ DIIs (Mutual Funds / Insurance)	13.05%	14.01%	14.33%	14.23%	15.01%	15.08%	14.78%	14.52%	14.39%	14.86%	15.10%	16.30%
+ Public (Retail & HNIs)	10.50%	10.17%	10.19%	9.83%	9.36%	9.32%	8.84%	8.92%	8.78%	8.77%	8.73%	8.64%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Financial Services.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

BAJFINANCE Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

BAJFINANCE Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

BAJFINANCE Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹1,380.86

Accelerated market share capture in Financial Services, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹1,208.26

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 29x P/E.

🐻 Bear Case (15%) -12.0%

₹949.34

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Financial Services)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:09 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Bajaj Finance Ltd (BAJFINANCE)	Target Stock	₹1,078.80	+1.31%	28.8x	18.2%	10.9%	0.00	₹5.90 Lakh Cr
HDFC Bank Ltd (HDFCBANK)	Private Sector Bank	₹806.60	+1.06%	14.1x	13.6%	7.0%	0.00	₹11.12 Lakh Cr
ICICI Bank Ltd (ICICIBANK)	Private Sector Bank	₹1,571.60	-1.10%	16.8x	15.9%	7.2%	0.00	₹9.41 Lakh Cr
State Bank of India (SBIN)	Public Sector Bank	₹1,061.20	+1.84%	10.5x	15.4%	6.1%	0.00	₹8.81 Lakh Cr
Kotak Mahindra Bank Ltd (KOTAKBANK)	Private Sector Bank	₹487.70	+1.71%	20.7x	11.4%	7.0%	0.00	₹4.14 Lakh Cr
Axis Bank Ltd (AXISBANK)	Private Sector Bank	₹1,336.40	+1.96%	13.6x	13.1%	6.2%	0.00	₹3.79 Lakh Cr
Bajaj Finserv Ltd (BAJAJFINSV)	Sector Peer	₹1,845.00	+0.44%	27.0x	13.2%	10.6%	5.52	₹2.78 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:09:29 IST	✓ Live Sync
Financial Statements (10Y)	Bajaj Finance Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Bajaj Finance Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Bajaj Finance Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Financial Services)

Metric Explainer

Stock DNA Methodology

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