BAJAJFINSV
Bajaj Finserv share price & financials
- Price
- ₹1,854
- Market cap
- ₹3.4L Cr
- Sector
- Financial Services
- Calls analysed
- 7
Bajaj Finserv Limited Q1 FY27
What went well
- Consolidated total income grew at 19% to INR 42,037 crore, and consolidated profit after tax grew at 18% to INR 6,297 crore.
- Bajaj Finance Limited reported AUM growth of 24% to INR 5,46,944 crore and PAT growth of 27.6% to INR 6,081 crore.
- Bajaj Life Insurance saw VNB grow 87% to INR 271 crore and New Business Margin expand by 4.8% to 15.9%.
What to watch
- Bajaj General Insurance's profit for the quarter was INR 478 crore, down from INR 660 crore last year, mainly due to lower capital gains booked.
- Bajaj Life Insurance's profit after tax de-grew to INR 51 crore, down from INR 171 crore last year, also attributable to lower capital gains and GST impact.
What Bajaj Finserv Limited does
Bajaj Finserv is the holding company for the Bajaj group's diversified financial-services businesses, operating through subsidiaries across lending, insurance, asset management and technology platforms. Its lending arms (Bajaj Finance and Bajaj Housing Finance) provide consumer, SME and mortgage finance, while Bajaj General Insurance and Bajaj Life Insurance underwrite general, health and life cover, and Bajaj Finserv Asset Management, Bajaj Financial Securities, Bajaj Markets and Bajaj Finserv Health round out mutual funds, broking, a digital marketplace and a health-tech platform. It earns from the consolidated income of these subsidiaries — interest on loans, insurance premiums, and fee and management income. In FY2026 it bought out Allianz's residual stake, making its two insurance ventures 100% Bajaj-owned.
Segments
- Retail & consumer finance (Bajaj Finance)
- Housing finance (Bajaj Housing Finance)
- General & health insurance (Bajaj General Insurance)
- Life insurance (Bajaj Life Insurance)
- Asset management (Bajaj Finserv AMC)
- Digital marketplace & technology (Bajaj Finserv Direct / Bajaj Markets)
- Health-tech (Bajaj Finserv Health)
- Broking & alternatives
- Group customer franchise
- 180 million+ (18 Cr+)
- Locations across India
- 4,050+
- Distribution network
- 570,000+ agents/partners
- Full-time employees (group)
- 110,000+
- Bajaj Finance market position
- No.1 largest NBFC in India
- Bajaj General Insurance market position
- No.2 largest private general insurer in India
Guidance record · Q1 FY27
what the last two calls moved 23 tracked 6 delivered 9 missed 8 open- BALIC VNB Growth vs Top Line delivered said Q3 FY25 Promised: faster than top line growth Q1 FY27: VNB grew 87% YoY, significantly outpacing GWP growth of 35% YoY.
- BAGIC Expense of Management (EoM) went quiet said Q3 FY25 Promised: below 30% Q1 FY27: Not addressed in the current transcript.
- BAGIC Combined Ratio at risk said Q1 FY26 Promised: close to 100% Q1 FY27: Combined ratio was elevated at 104.7%. While an improvement from Q4, it is still above the target of 100%.
All 23 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 19.1%, net profit up 18.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 33,704 | 32,042 | 36,595 | 35,288 | 37,403 +11% | 39,708 +24% | 38,494 +5% | 42,037 +19% |
| EBITDA | 12,283 | 12,373 | 12,728 | 14,315 | 14,050 +14% | 13,866 +12% | 14,511 +14% | 17,141 +20% |
| Net profit | 4,180 | 4,412 | 4,756 | 5,329 | 4,746 +14% | 4,368 −1% | 5,226 +10% | 6,297 +18% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −6.1% 1Y
1Y: ₹2,038.2 on 10 Sept 2025 → ₹1,913.5. High ₹2,176.6 (23 Oct 2025), low ₹1,631.8 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +6.3%
- 31 Jul
- Q4 FY26
- −0.6%
- 7 May
- Q3 FY26
- −1.0%
- 5 Feb
- Q2 FY26
- −6.1%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 37.2% a year over 3 years, FY23 to FY26. Operating margin widened to 37.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹58.5k Cr | ₹110.4k Cr | ₹133.8k Cr | ₹150.9k Cr |
| Operating profit | ₹21.5k Cr | ₹40.7k Cr | ₹49.2k Cr | ₹56.7k Cr |
| Operating margin | 36.8% | 36.8% | 36.8% | 37.6% |
| Interest | ₹8.8k Cr | ₹18.4k Cr | ₹24.3k Cr | ₹28.2k Cr |
| Depreciation | ₹498 Cr | ₹900 Cr | ₹1.2k Cr | ₹1.3k Cr |
| Net profit | ₹8.9k Cr | ₹15.6k Cr | ₹17.6k Cr | ₹19.7k Cr |
| Net margin | 15.2% | 14.1% | 13.1% | 13.0% |
| ROCE | 20.0% | 26.0% | 27.0% | 19.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹80 Cr | ₹80 Cr | ₹159 Cr | ₹159 Cr | ₹160 Cr | ₹160 Cr |
| Reserves | ₹3.7k Cr | ₹4.3k Cr | ₹5.1k Cr | ₹6.4k Cr | ₹76.3k Cr | ₹10.0k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹392.2k Cr | ₹0 Cr |
| Other liabilities | ₹68 Cr | ₹70 Cr | ₹70 Cr | ₹82 Cr | ₹238.8k Cr | ₹168 Cr |
| Total liabilities | ₹3.9k Cr | ₹4.4k Cr | ₹5.3k Cr | ₹6.7k Cr | ₹707.5k Cr | ₹10.3k Cr |
| Fixed assets | ₹159 Cr | ₹110 Cr | ₹115 Cr | ₹113 Cr | ₹6.5k Cr | ₹127 Cr |
| Capital work in progress | ₹2 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹155 Cr | ₹13 Cr |
| Investments | ₹3.5k Cr | ₹4.2k Cr | ₹5.1k Cr | ₹6.4k Cr | ₹49.9k Cr | ₹9.7k Cr |
| Other assets | ₹213 Cr | ₹133 Cr | ₹120 Cr | ₹132 Cr | ₹650.9k Cr | ₹556 Cr |
| Total assets | ₹3.9k Cr | ₹4.4k Cr | ₹5.3k Cr | ₹6.7k Cr | ₹707.5k Cr | ₹10.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +2.02 pp while FIIs trimmed −1.50 pp. The shareholder count shrank 13% to 5,97,797.
- Promoters
- 58.7%
- FIIs
- 6.9%
- DIIs
- 12.1%
- Public
- 22.2%
- Others
- 0.1%
Since Jun 2025
- DIIs +2.02 pp
- FIIs −1.50 pp
- Public −0.37 pp
How it drifted, 12 quarters
Over this window DIIs went from 7.1% to 12.1% — +5.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 60.7%, FIIs 7.7%, DIIs 7.1%, Public 24.3%, Others 0.3%.Dec '23: Promoters 60.7%, FIIs 7.9%, DIIs 7.5%, Public 23.7%, Others 0.2%.Mar '24: Promoters 60.7%, FIIs 8.4%, DIIs 7.3%, Public 23.4%, Others 0.2%.Jun '24: Promoters 60.6%, FIIs 8.4%, DIIs 7.6%, Public 23.2%, Others 0.2%.Sep '24: Promoters 60.6%, FIIs 8.2%, DIIs 8.1%, Public 22.8%, Others 0.1%.Dec '24: Promoters 60.6%, FIIs 7.4%, DIIs 8.9%, Public 22.9%, Others 0.1%.Mar '25: Promoters 60.6%, FIIs 7.5%, DIIs 9.0%, Public 22.7%, Others 0.1%.Jun '25: Promoters 58.8%, FIIs 8.4%, DIIs 10.1%, Public 22.6%, Others 0.1%.Sep '25: Promoters 58.8%, FIIs 8.1%, DIIs 10.5%, Public 22.5%, Others 0.1%.Dec '25: Promoters 58.8%, FIIs 8.1%, DIIs 10.7%, Public 22.4%, Others 0.0%.Mar '26: Promoters 58.7%, FIIs 7.2%, DIIs 11.8%, Public 22.2%, Others 0.1%.Jun '26: Promoters 58.7%, FIIs 6.9%, DIIs 12.1%, Public 22.2%, Others 0.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Nifty50 Equal Weight Index Fund Mutual fund newly disclosed 2.61% held
- Bajaj Holdings And Investment Limited +0.13 pp 38.41% held
- Nirvaan Family Trust (Manish Kejriwal) newly disclosed 0.06% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Bajaj Finserv Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bajaj Holdings And Investment Limited | 38.41% | +0.13 pp |
| Jamnalal Sons Pvt Ltd | 8.54% | unchanged |
| Jaya Hind Industries Private Limited | 3.92% | unchanged |
| ICICI Prudential Nifty50 Equal Weight Index Fund Mutual fund | 2.61% | newly disclosed |
| Maharashtra Scooters Limited | 2.37% | unchanged |
| SBI Arbitrage Opportunities Fund Mutual fund | 2.15% | −0.60 pp |
| LICI Asm Non Par Insurer | 2.07% | unchanged |
| Bajaj Sevashram Private Limited | 1.67% | unchanged |
| Bachhraj And Company Pvt Limited | 1.46% | unchanged |
| Niraj Bajaj (Yamuna Trust) | 1.14% | unchanged |
| Bachhraj Factories Private Limited | 0.67% | unchanged |
| Baroda Industries Private Limited | 0.57% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in BAJAJFINSV
Filings to Aug 2026
2 new, 12 added, 12 trimmed, 1 sold out — net −50.92 L shares (−10.0%).
- Held by funds
- ₹9.3k Cr
- 43 schemes
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.3k Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹2.3k Cr | +0.59 L | Aug '21 |
| SBI BSE Sensex ETF SBI Mutual Fund | ₹1.5k Cr | +0.74 L | Aug '21 |
| HDFC Large Cap Fund HDFC Mutual Fund | ₹1.3k Cr | held | Jun '25 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹712 Cr | +0.71 L | Jan '19 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹416 Cr | held | Jul '26 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹406 Cr | held | Dec '22 |
| Nippon India ETF BSE Sensex Nippon India Mutual Fund | ₹356 Cr | +0.49 L | Jun '20 |
| Nippon India Focused Fund Nippon India Mutual Fund | ₹303 Cr | −2.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
12 added, 12 trimmed — net −50.92 L shares (−10.0%)
- Funds are sitting on
- +3%
- vs est. average cost
- Held by funds
- ₹9.3k Cr
- 43 schemes · ≈ 2.5% of the company
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.3k Cr · 1.1% of that fund
- Longest holder
- Nippon India ETF Nifty 100
- 13y 4m · since May '13
Shares held by these funds +118%
Aug '23 5.08 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Bajaj Finserv Limited
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