BAJFINANCE · NSE · Non Banking Financial Company (NBFC)
Bajaj Finance Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Financial Services
dear
low confidence
No valuation within 120 days; P/E 29.4 vs peers 20.6 (13th of 14); P/B 4.8 vs peers 2.7 (12th of 14).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is Bajaj Finance's share price today?
Bajaj Finance last traded at ₹957.25 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.3% on the day, down 7.4% over a year. Its 52-week range is ₹788 to ₹1,176. The live price is in the app.
₹957.25
−0.3% today
−7.4% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range44% of the way up
Low ₹788High ₹1,176
What is Bajaj Finance's market cap?
Bajaj Finance's market capitalisation is about ₹5.98 lakh crore: what it would cost to buy every share at today's price. That makes it the 7th largest large cap company we cover.
₹6.0 L Cr
Large Cap7th largest large cap company
Share price₹957.25
×
Shares in issue624 crore
=
Market cap₹6.0 L Cr
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: BAJFINANCE
- ISIN
- INE296A01032
- Cap bucket
- Large Cap, 7th largest by market cap
- Industry (NSE)
- Financial Services › Finance › Non Banking Financial Company (NBFC)
- Listed since
- 2003
- Futures and options
- Traded
Is Bajaj Finance overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 29.4 vs peers 20.6 (13th of 14); P/B 4.8 vs peers 2.7 (12th of 14).
Valuation
Latest price and trailing 12 months
P/E
29.39
vs peers 20.6 · 13th of 14
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
4.83
vs peers 2.7 · 12th of 14
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹5.98 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
0.8%
vs peers 1.0% · 7th of 11
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
6.49
vs peers 5.1 · 6th of 11
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
1.72
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Bajaj Finance a quality business?
Quality score 52, 10th of 14 in its peer set; WATCH on 15 of 22 lender flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
52
vs peers 56.4 · 10th of 14
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
15 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Lender scorecard
Statements through FY2026 (Mar-26)
Basis: consolidated accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is interest earned less expended over average advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over average advances (the loan book from the Q4 filing); ROA over average total assets; ROE over average equity
Net interest margin
9.1%
vs peers 4.6% · 3rd of 14
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA
Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA
Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage
Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost
2.1%
vs peers 1.0% · 11th of 12
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income
40.3%
vs peers 31.9% · 8th of 14
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets
3.8%
vs peers 2.3% · 3rd of 14
Profit as a share of average total assets. Learn more →
CET1 ratio
Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY
22.3%
vs peers 22.4% · 6th of 10
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY
-4.0%
vs peers 24.7% · 4th of 5
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio
Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app
Get a sneak peek of Valarth
Has Bajaj Finance made money for shareholders?
Mixed: −7.4% over one year and +4.6% a year over five years.
Shareholder returns
5-year return
+4.6% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Yes
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
−1.0%1M
−4.9%3M
−6.1%6M
+6.8%1Y
−7.4%3Y
+8.6%5Y
+4.6%Does Bajaj Finance pay a dividend?
Yes. Bajaj Finance's dividend yield is 0.75% at the latest price; the last payout was ₹0.60 a share, ex-dividend 30 Jun 2026.
Dividends
Per share, by ex-dividend date
Dividend yield0.75%
The past 12 months' dividends as a share of today's price.
30 Jun 2026 · Special₹0.60
30 Jun 2026 · Final₹5.40
30 May 2025 · Final₹4.40
9 May 2025 · Special₹1.20
21 Jun 2024 · Final₹3.60
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is Bajaj Finance growing?
Loan growth 22.3%; deposit growth -4.0%; revenue 3 years 25.6% a year.
Growth
Statements through FY2026 (Mar-26)
Loan growth
22.3%
vs peers 22.4% · 6th of 10
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth
-4.0%
vs peers 24.7% · 4th of 5
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years
25.6% a year
vs peers 22.4% · 5th of 14
Compound annual growth of revenue over three years. Learn more →
EPS 3 years
17.1% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years
22.1% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years
33.0% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
How did Bajaj Finance do last quarter?
Bajaj Finance reported income of ₹23,172 Cr, up 19.1% on a year earlier and a net profit of ₹6,081 Cr, up 15.2% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Income, latest quarter₹23,172 Cr
+19.1% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹6,081 Cr
+15.2% on a year earlier
What was left for shareholders after every cost and tax.
How does Bajaj Finance compare with its peers?
Compared with 13 Finance (the industry, as the basic industry was too small); 13th of 14 on P/E; 10th of 14 on quality score.
Compared with 13 Finance (the industry, as the basic industry was too small)
13 companies
- Bajaj Finance Ltd (this page)
- Bajaj Finserv Ltd
- Shriram Finance Ltd
- Jio Financial Services Ltd
- Cholamandalam Investment & Finance Company Ltd
- Tata Capital Ltd
- Bajaj Holdings & Investment Ltd
- Power Finance Corporation Ltd
- Muthoot Finance Ltd
- Aditya Birla Capital Ltd
- Indian Railway Finance Corporation Ltd
- REC Ltd
- Bajaj Housing Finance Ltd
- L&T Finance Ltd
Bajaj Finance against its peers
Largest 10 of 13 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
Bajaj Finance Ltd₹6.0 L Cr29.44.818.6%−7.4%
Jio Financial Services Ltd₹1.4 L Cr66.75.62.5%−30.4%
Peer median—20.62.712.8%−14.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Bajaj Finance?
Bajaj Finance is held by promoters 54.7%, foreign institutions 20.2%, domestic institutions 16.4%.
Shareholding pattern
Latest filing, percent of shares
Promoters54.7%
The founders and controlling group.
Foreign institutions20.2%
Overseas funds investing through the FPI route.
Domestic institutions16.4%
Indian insurers, banks, pension and mutual funds together.
Mutual funds9.6%
Indian mutual fund schemes; part of domestic institutions.
Retail and others4.9%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Bajaj Finance?
34 analysts cover Bajaj Finance, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
34 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Bajaj Finance do and what is it sensitive to?
Bajaj Finance Limited (BFL) is an NBFC offering diversified financial products including consumer lending, personal loans, SME lending, gold loans, auto financing, microfinance, commercial lending, rural lending, mortgages, deposits, and payments solutions to consumer, MSME, commercial and rural segments across India. Sensitive to: interest rate risk on loans and borrowings.
Business-model card
FY2025 · 73 verified
6Revenue
7Channels
4Regulators
5Reg. dependencies
7Sensitivities
8Costs
2Geographies
Bajaj Finance Limited (BFL) is an NBFC offering diversified financial products including consumer lending, personal loans, SME lending, gold loans, auto financing, microfinance, commercial lending, rural lending, mortgages, deposits, and payments solutions to consumer, MSME, commercial and rural segments across India. It earns revenue primarily from interest income on loans, fees and commissions, and is pursuing AI-first transformation to scale to 200 million customers by FY2029.
Revenue engine
6 verified
Interest income on loans
Core revenue from diversified loan portfolio including personal loans, gold loans, auto financing, SME lending, microfinance, mortgages, and commercial lending to mass affluent, MSME and corporate customers
Fees and commission expense management
Revenue line from commissions and recovery costs; in FY2025 commission and incentives were ₹79.08 crore, recovery costs ₹1,973.59 crore, credit guarantee fees ₹508.76 crore
Deposit-taking business
Accepts deposits from retail and corporate clients with retail customers representing the majority of deposit base; finance cost on deposits in FY2025 was ₹5,140.12 crore
3 more statements
Subsidiary Bajaj Housing Finance Limited (BHFL): Mortgage loans
Subsidiary registered with National Housing Bank as Housing Finance Company focusing on mortgage loans to customers
Subsidiary Bajaj Financial Securities Limited (BFSL): Broking and depository services
Wholly-owned subsidiary registered with SEBI as stockbroker and depository participant offering broking, depository services, margin trade facility, distribution of mutual funds and PMS to retail and HNI clients
Payments solutions and merchant services
Bajaj Pay QR enables merchants to accept payments by way of UPI, Bajaj Pay wallet and Bajaj EMI; offers dedicated Bajaj Finserv for Business App to merchants
Customers & channels
7 verified
Mass affluent borrowers
Primary customer segment; BFL focuses on acquiring mass affluent customers offering secured and unsecured loans to salaried, self-employed, professionals, MSME and corporate clients
Retail and corporate depositors
Source of funding; retail customers represent the majority of deposit base
Retail and HNI broking customers
Through subsidiary BFSL; segment for investment and trading services
4 more statements
Merchants accepting digital payments
Accept payments via UPI, Bajaj Pay wallet and Bajaj EMI through Bajaj Pay QR
Distribution network: 232,000 active distribution points and 4,263 locations
Includes 2,681 locations in rural/smaller towns and villages; 70,000+ field agents; partnership with Airtel's 1.2 million distribution network
Digital channels: Mobile App, Website, Chat Bot
Self-service channels for customer engagement, servicing, and complaint resolution
Partnership with Airtel
Strategic partnership combining Airtel's customer base of 375 million and 1.2 million distribution network with BFL's 27 product lines and 232K distribution points
Regulators
4 verified
Reserve Bank of India (RBI)
Governs BFL as a Deposit-taking NBFC classified as NBFC-Investment and Credit Company (NBFC-ICC); regulates capital adequacy, credit risk, interest rates, monetary policy affecting borrowing costs
Insurance Regulatory and Development Authority of India (IRDAI)
Regulates BFL's corporate agent registration and activities; levied ₹2 crore penalty in FY2025 for non-adherence to reconciliation and record-keeping regulations
National Housing Bank (NHB)
Regulates subsidiary BHFL as a Housing Finance Company
1 more statement
Securities and Exchange Board of India (SEBI)
Regulates subsidiary BFSL as a stockbroker and depository participant; governs listing obligations and disclosure requirements
Regulatory dependencies
5 verified
RBI monetary policy and repo rate changes
RBI repo rate cuts from 6.50% to 6% (Feb-Apr 2025) reduce BFL's borrowing costs and improve net interest margins; rates affect both loan pricing and deposit competition
RBI capital adequacy and risk-weighted asset requirements
Interpretation: RBI regulations govern minimum capital ratios and risk-weighting of loan portfolios, affecting capital requirements and dividend payout capacity
IRDAI corporate agent registration and compliance
IRDAI penalties for non-compliance with reconciliation, record-keeping and documentation regulations; in FY2025 ₹2 crore penalty imposed for breaches
2 more statements
NHB regulations for subsidiary BHFL housing finance
Subsidiary BHFL's mortgage lending operations and capital structure governed by NHB rules affecting mortgage product pricing and availability
SEBI regulations for subsidiary BFSL broking
Subsidiary BFSL must comply with SEBI regulations as stockbroker and depository participant, affecting revenue from broking and investment distribution services
Sensitivities
7 verified
Interest rate risk on loans and borrowings
1% increase in interest rates increases profit on ₹167,427.56 crore loan portfolio by ₹1,674.28 crore but decreases profit on ₹92,090.97 crore borrowings by ₹920.91 crore; net positive exposure to rate increases
Credit cost sensitivity to GDP growth and political uncertainty
Credit costs affected by country's GDP growth rate, political uncertainties, and political actions; lower GDP growth increases impairment charges
Borrowing cost sensitivity to economic cycle and liquidity
BFL's funding costs influenced by economic cycle and market liquidity position affecting net interest margins
4 more statements
Foreign exchange (USD/INR) risk on ECB loans and hedges
1% depreciation in INR/USD would reduce profit by impact on FX hedging; company manages via cross currency swaps and forward rate agreements
Equity price risk on quoted equity investments
10% increase in quoted equity investment prices increases profit by ₹57.39 crore on carrying value of ₹573.87 crore
Macroeconomic slowdown and tariff uncertainty
US tariff actions and retaliatory measures risk reducing exports, GDP growth and demand for credit; global GDP growth forecast at 2.8% for 2025 below 3.7% historical average
India GDP growth deceleration
Real GDP growth declined to 6.5% in FY2025 vs 9.2% in FY2024; decelerating growth reduces credit demand and increases credit costs
Cost inputs
8 verified
Interest expense on debt securities
FY2025 interest cost ₹7,566.39 crore on debt securities; sensitive to bond yields and refinancing costs
Interest expense on borrowings other than debt securities
FY2025 interest cost ₹5,337.29 crore on bank and other borrowings; affected by repo rate and credit spreads
Deposit funding costs
FY2025 interest cost ₹5,140.12 crore on deposits; increases with rising rates and competition for deposits
5 more statements
Subordinated liabilities interest cost
FY2025 interest cost ₹277.69 crore on subordinated liabilities; affects capital adequacy cost
Employee benefits and compensation
FY2025 employee benefits expense ₹6,907.28 crore including emoluments ₹6,177.44 crore, provident fund ₹218.56 crore, gratuity ₹84.44 crore, stock-based payments ₹358.37 crore
Recovery and collection costs
FY2025 recovery costs ₹1,973.59 crore; scales with portfolio delinquencies and credit cycle
Impairment on loans
FY2025 loan impairment ₹7,829.28 crore; scales with credit losses and GDP growth; increased from ₹4,505.86 crore in FY2024
Credit guarantee fees
FY2025 credit guarantee fees ₹508.76 crore; cost to insure credit risk; increased from ₹189.06 crore in FY2024
Geographies
2 verified
India: 28 States and 6 Union Territories across 4,263 locations
Domestic operations with strategic geographic expansion using GDP contribution as criterion; 2,681 locations in rural/smaller towns
No international operations
Exclusively India-focused; no export business operations
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (30 Jul 2026).
Change log
6 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 15 of 22 lender flags judged; 1 red; 7 could not be judged.
- Data gapsBusiness quality, Gross NPA, Net NPA, Provision coverage, CET1 ratio, CASA ratio: not available yet.
Not applicable to a bank, lender or insurer · 12
- Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
- Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
- Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
- Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
- Interest coverageInterest is a lender's main cost, not a charge on operating profit.
- Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
- EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
- FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
- Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
- Asset turnoverA lender earns a spread on its assets, not a turnover of them.
- ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
- ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓193 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 73 verified
Questions people ask
What is Bajaj Finance's share price today?
Bajaj Finance last traded at ₹957.25 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.3% on the day, down 7.4% over a year. Its 52-week range is ₹788 to ₹1,176. The live price is in the app.
What is Bajaj Finance's market cap?
Bajaj Finance's market capitalisation is about ₹5.98 lakh crore: what it would cost to buy every share at today's price. That makes it the 7th largest large cap company we cover.
Is Bajaj Finance Ltd a large cap, mid cap or small cap?
Bajaj Finance Ltd (BAJFINANCE) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Bajaj Finance Ltd's P/E ratio?
29.39, vs peers 20.6 · 13th of 14. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Bajaj Finance Ltd overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 29.4 vs peers 20.6 (13th of 14); P/B 4.8 vs peers 2.7 (12th of 14).
How does Bajaj Finance Ltd make money?
Bajaj Finance Limited (BFL) is an NBFC offering diversified financial products including consumer lending, personal loans, SME lending, gold loans, auto financing, microfinance, commercial lending, rural lending, mortgages, deposits, and payments solutions to consumer, MSME, commercial and rural segments across India. It earns revenue primarily from interest income on loans, fees and commissions, and is pursuing AI-first transformation to scale to 200 million customers by FY2029.
Why is there no Altman Z or debt to equity for Bajaj Finance?
Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.
Who are Bajaj Finance Ltd's peers?
Compared with 13 Finance (the industry, as the basic industry was too small): Bajaj Finserv Ltd, Shriram Finance Ltd, Jio Financial Services Ltd, Cholamandalam Investment & Finance Company Ltd, Tata Capital Ltd and 8 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Bajaj Finance do last quarter?
Bajaj Finance reported income of ₹23,172 Cr, up 19.1% on a year earlier and a net profit of ₹6,081 Cr, up 15.2% in the Jun 2026 quarter.
Who owns Bajaj Finance?
Bajaj Finance is held by promoters 54.7%, foreign institutions 20.2%, domestic institutions 16.4%.
Does Bajaj Finance pay a dividend?
Yes. Bajaj Finance's dividend yield is 0.75% at the latest price; the last payout was ₹0.60 a share, ex-dividend 30 Jun 2026.
What do analysts say about Bajaj Finance?
34 analysts cover Bajaj Finance, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.