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Last Updated: April 2, 2026, 2:30 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532978 | NSE: BAJAJFINSV

Bajaj Finserv Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,382.11Overvalued by 16.08%vs CMP ₹1,647.00

P/E (26.9) × ROE (13.4%) × BV (₹479.00) × DY (0.06%)

₹1,081.22Overvalued by 34.35%vs CMP ₹1,647.00
MoS: -52.3% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,605.6826%Fair (-2.5%)
Graham NumberEarnings₹808.0919%Over (-50.9%)
DCFCash Flow₹92.5813%Over (-94.4%)
Net Asset ValueAssets₹477.908%Over (-71%)
EV/EBITDAEnterprise₹716.8611%Over (-56.5%)
Earnings YieldEarnings₹605.908%Over (-63.2%)
ROCE CapitalReturns₹3,257.768%Under (+97.8%)
Revenue MultipleRevenue₹836.106%Over (-49.2%)
Consensus (8 models)₹1,081.22100%Overvalued
Key Drivers: Wide model spread (₹93–₹3,258) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 16.2%

*Investments are subject to market risks

Investment Snapshot

61
Bajaj Finserv Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health55/100 · Moderate
ROCE 11.0% AverageROE 13.4% GoodD/E 3.57 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.53% (6mo) Slight increaseDII holding up 1.75% MF buyingPromoter holding at 58.8% Stable
Earnings Quality65/100 · Strong
OPM expanding (34% → 37%) Improving
Quarterly Momentum58/100 · Moderate
Revenue (4Q): +15% YoY GrowingProfit (4Q): +14% YoY PositiveOPM: 35.0% (down 4.0% YoY) Margin pressure
Industry Rank60/100 · Moderate
P/E 26.9 vs industry 24.1 In-lineROCE 11.0% vs industry 12.5% Average3Y sales CAGR: 25% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:30 am

Market Cap 2,63,611 Cr.
Current Price 1,647
Intrinsic Value₹1,081.22
High / Low 2,195/1,627
Stock P/E26.9
Book Value 479
Dividend Yield0.06 %
ROCE11.0 %
ROE13.4 %
Face Value 1.00
PEG Ratio1.66

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bajaj Finserv Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bajaj Finserv Ltd 2,63,611 Cr. 1,647 2,195/1,62726.9 4790.06 %11.0 %13.4 % 1.00
Bajaj Holdings & Investment Ltd 99,126 Cr. 8,907 14,873/8,71213.5 6,0951.04 %9.82 %11.0 % 10.0
IDFC Ltd 17,275 Cr. 108 /19.9 83.60.93 %8.49 %8.37 % 10.0
Choice International Ltd 14,263 Cr. 640 860/47468.2 54.90.00 %20.0 %19.6 % 10.0
BF Investment Ltd 1,305 Cr. 347 562/3157.94 1,8800.00 %4.62 %3.39 % 5.00
Industry Average56,762.86 Cr1,713.0024.061,273.510.29%12.46%13.71%6.86

All Competitor Stocks of Bajaj Finserv Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 21,75523,62523,28026,02329,03832,04131,48033,70432,04236,59535,43937,40339,708
Expenses 13,92415,47013,93516,07318,60121,10819,65521,42019,66923,86821,12423,35225,842
Operating Profit 7,8318,1549,3459,95010,43810,93311,82512,28312,37312,72814,31514,05013,866
OPM % 36%35%40%38%36%34%38%36%39%35%40%38%35%
Other Income 02302433310133-378
Interest 3,2413,4364,0204,4494,7775,1545,5926,0466,2766,3966,8076,9017,232
Depreciation 172181202209232257267275288339317327330
Profit before tax 4,4194,5405,1255,2925,4315,5275,9685,9665,8126,0027,2046,8255,926
Tax % 25%27%28%29%26%26%29%30%24%21%26%30%26%
Net Profit 3,3003,3353,7093,7564,0454,0854,2094,1804,4124,7565,3294,7464,368
EPS in Rs 11.1911.1112.2012.0913.5213.2813.3913.0713.9715.1417.4614.0413.95

Last Updated: February 7, 2026, 12:03 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 11:51 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6,02311,33520,53324,50732,86242,60554,35160,59268,40682,072110,382133,822149,145
Expenses 1,5315,82313,79515,79422,07427,56936,09440,95046,95152,20469,49784,29894,186
Operating Profit 4,4915,5116,7398,71310,78815,03718,25819,64121,45529,86840,88649,52454,959
OPM % 75%49%33%36%33%35%34%32%31%36%37%37%37%
Other Income 3800120-781-4-18-352
Interest 1,5622,2302,8773,7164,5316,6579,5009,2749,62912,38018,60724,58727,337
Depreciation 313858731602264574985636789001,1701,314
Profit before tax 2,9023,2513,8044,9256,0998,1558,3029,86211,27116,81121,37523,74825,957
Tax % 24%26%27%30%32%34%28%25%26%27%27%26%
Net Profit 2,1912,4092,7753,4504,1765,3745,9947,3678,31412,21015,59517,55819,200
EPS in Rs 9.7110.6211.7114.2116.6520.2321.1728.0928.6340.2951.0755.5760.59
Dividend Payout % 2%2%1%1%1%1%2%1%1%2%2%2%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)9.95%15.19%24.32%21.04%28.69%11.54%22.91%12.85%46.86%27.72%12.59%
Change in YoY Net Profit Growth (%)0.00%5.24%9.13%-3.28%7.64%-17.15%11.37%-10.05%34.01%-19.14%-15.14%

Bajaj Finserv Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:28%
5 Years:20%
3 Years:25%
TTM:16%
Compounded Profit Growth
10 Years:18%
5 Years:21%
3 Years:25%
TTM:14%
Stock Price CAGR
10 Years:28%
5 Years:26%
3 Years:5%
1 Year:7%
Return on Equity
10 Years:14%
5 Years:14%
3 Years:14%
Last Year:13%

Last Updated: September 4, 2025, 9:25 pm

Balance Sheet

Last Updated: December 4, 2025, 12:51 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 808080808080808080159159160160
Reserves 9,23211,00913,51916,07120,40323,66031,22235,75040,16746,24860,16972,23676,331
Borrowings 19,50726,31236,06248,28265,69599,754127,212128,461161,179212,265288,933355,855392,202
Other Liabilities 45,56550,82754,29064,18175,33784,93492,791115,554131,987146,729188,154223,269238,823
Total Liabilities 74,38388,228103,951128,614161,514208,428251,304279,845333,413405,401537,415651,519707,515
Fixed Assets 1,2621,2611,2741,6451,7922,0973,2163,1823,5864,3365,4556,2976,548
CWIP 13114286645129113191220314155
Investments 45,31451,36753,69862,65869,42881,67991,821113,654119,222136,176170,127190,13049,877
Other Assets 27,80535,59848,96964,30690,266124,587156,223162,879210,493264,698361,613454,778650,935
Total Assets 74,38388,228103,951128,614161,514208,428251,304279,845333,413405,401537,415651,519707,515

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -9,807-10,731-9,795-10,922-19,580-27,076-23,3694,547-33,670-39,480-65,502-62,113
Cash from Investing Activity + 3,7643,709-886151-922-6,903-9,948-3,6841,445-13,945-14,132-7,987
Cash from Financing Activity + 6,5216,83911,60212,51319,59034,53534,4791,68732,32651,01682,70970,191
Net Cash Flow 478-1839211,742-9115551,1622,551101-2,4093,07592
Free Cash Flow -9,807-10,731-9,795-10,922-19,883-27,646-24,2394,096-34,420-40,603-66,811-63,829
CFO/OP -218%-195%-145%-125%-162%-161%-113%34%-142%-117%-146%-111%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-15.00-21.00-30.00-40.00-55.00-84.00-109.00-109.00-140.00-183.00-248.00-306.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 221712191919181716152023
Inventory Days
Days Payable
Cash Conversion Cycle 221712191919181716152023
Working Capital Days -1,669-741-341-301-750-644-417-490-493-444-406-374
ROCE %16%15%14%14%13%13%11%10%10%11%12%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.78%60.79%60.69%60.69%60.69%60.64%60.64%60.64%60.64%58.81%58.81%58.81%
FIIs 7.03%7.17%7.66%7.91%8.42%8.39%8.24%7.40%7.53%8.40%8.11%8.06%
DIIs 7.10%7.30%7.09%7.48%7.33%7.60%8.13%8.91%8.99%10.09%10.49%10.74%
Public 24.95%24.66%24.31%23.70%23.38%23.18%22.84%22.93%22.71%22.60%22.52%22.37%
Others 0.13%0.10%0.25%0.21%0.18%0.19%0.14%0.12%0.10%0.10%0.07%0.02%
No. of Shareholders 7,36,5966,91,2346,60,2955,85,2205,67,0417,08,4328,07,3607,77,6807,08,8456,83,2796,39,6246,17,071

Shareholding Pattern Chart

No. of Shareholders

Bajaj Finserv Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Focused Fund 10,000,000 4.54 1952.6N/AN/AN/A
ICICI Prudential Multi Asset Fund 8,094,127 1.96 1580.465,301,4702026-02-23 06:14:1452.68%
HDFC Large Cap Fund 5,439,567 2.68 1062.134,165,2472026-02-23 06:14:1430.59%
ICICI Prudential Value Fund 4,355,765 1.41 850.513,295,7762026-02-23 06:14:1432.16%
ICICI Prudential Large & Mid Cap Fund 3,901,123 2.78 761.732,731,3082026-02-23 06:14:1442.83%
SBI Multicap Fund 3,740,000 3.18 730.27N/AN/AN/A
SBI Banking & Financial Services Fund 3,411,808 6.4 666.192,802,0182025-12-15 01:16:5521.76%
ICICI Prudential Balanced Advantage Fund 2,445,936 0.68 477.59N/AN/AN/A
Aditya Birla Sun Life Flexi Cap Fund 2,014,387 1.59 393.33N/AN/AN/A
SBI Equity Hybrid Fund 2,000,000 0.48 390.52N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.005.005.00
Basic EPS (Rs.) 55.6051.2040.30286.30280.90
Diluted EPS (Rs.) 55.0050.7040.00286.30280.90
Cash EPS (Rs.) 117.23103.4380.91557.79494.28
Book Value[Excl.RevalReserv]/Share (Rs.) 453.60651.00487.244167.393663.06
Book Value[Incl.RevalReserv]/Share (Rs.) 453.60651.00487.244167.393663.06
Revenue From Operations / Share (Rs.) 838.48692.44515.334298.483807.41
PBDIT / Share (Rs.) 308.33255.11186.421340.451225.48
PBIT / Share (Rs.) 301.00249.46182.161305.091194.16
PBT / Share (Rs.) 148.69134.04105.55708.24619.74
Net Profit / Share (Rs.) 109.9097.7876.66522.43462.96
NP After MI And SOA / Share (Rs.) 55.5951.1140.29286.34280.91
PBDIT Margin (%) 36.7736.8436.1731.1832.18
PBIT Margin (%) 35.8936.0235.3430.3631.36
PBT Margin (%) 17.7319.3520.4816.4716.27
Net Profit Margin (%) 13.1014.1214.8712.1512.15
NP After MI And SOA Margin (%) 6.627.387.816.667.37
Return on Networth / Equity (%) 12.2513.5013.8211.3212.47
Return on Capital Employeed (%) 35.4513.9313.7011.7813.35
Return On Assets (%) 1.361.511.581.361.59
Long Term Debt / Equity (X) 0.002.922.802.642.25
Total Debt / Equity (X) 4.894.774.563.993.57
Asset Turnover Ratio (%) 0.220.230.010.000.00
Current Ratio (X) 1.242.102.062.041.95
Quick Ratio (X) 1.242.102.062.041.95
Dividend Payout Ratio (NP) (%) 1.791.560.991.040.00
Dividend Payout Ratio (CP) (%) 1.581.400.890.930.00
Earning Retention Ratio (%) 98.2198.4499.0198.960.00
Cash Earning Retention Ratio (%) 98.4298.6099.1199.070.00
Interest Coverage Ratio (X) 2.022.212.432.252.13
Interest Coverage Ratio (Post Tax) (X) 1.721.852.001.881.81
Enterprise Value (Cr.) 714801.58580673.63438933.70453552.41300819.87
EV / Net Operating Revenue (X) 5.345.265.356.634.96
EV / EBITDA (X) 14.5314.2814.7821.2615.42
MarketCap / Net Operating Revenue (X) 2.392.372.463.972.54
Retention Ratios (%) 98.2098.4399.0098.950.00
Price / BV (X) 4.424.344.356.744.29
Price / Net Operating Revenue (X) 2.392.372.463.972.54
EarningsYield 0.020.030.030.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bajaj Finserv Ltd. is a Public Limited Listed company incorporated on 30/04/2007 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L65923PN2007PLC130075 and registration number is 130075. Currently Company is involved in the business activities of Life insurance. Company's Total Operating Revenue is Rs. 2261.68 Cr. and Equity Capital is Rs. 159.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Holding CompanyBajaj Auto Limited Complex, Mumbai - Pune Road, Pune Maharashtra 411035Contact not found
Management
NamePosition Held
Mr. Sanjiv BajajChairman & Managing Director
Mrs. Radhika HaribhaktiDirector
Mr. Rajiv BajajDirector
Mr. Pramit JhaveriDirector
Dr. Naushad ForbesDirector
Mr. Anami N RoyDirector
Mr. Manish KejriwalDirector
Mr. Sanjiv SahaiDirector
Mr. Rajeev JainDirector

FAQ

What is the intrinsic value of Bajaj Finserv Ltd and is it undervalued?

As of 15 April 2026, Bajaj Finserv Ltd's intrinsic value is ₹1081.22, which is 34.35% lower than the current market price of ₹1,647.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.4 %), book value (₹479), dividend yield (0.06 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bajaj Finserv Ltd?

Bajaj Finserv Ltd is trading at ₹1,647.00 as of 15 April 2026, with a FY2026-2027 high of ₹2,195 and low of ₹1,627. The stock is currently near its 52-week low. Market cap stands at ₹2,63,611 Cr..

How does Bajaj Finserv Ltd's P/E ratio compare to its industry?

Bajaj Finserv Ltd has a P/E ratio of 26.9, which is above the industry average of 24.06. The premium over industry average may reflect growth expectations or speculative interest.

Is Bajaj Finserv Ltd financially healthy?

Key indicators for Bajaj Finserv Ltd: ROCE of 11.0 % is moderate. Dividend yield is 0.06 %.

Is Bajaj Finserv Ltd profitable and how is the profit trend?

Bajaj Finserv Ltd reported a net profit of ₹17,558 Cr in Mar 2025 on revenue of ₹133,822 Cr. Compared to ₹8,314 Cr in Mar 2022, the net profit shows an improving trend.

Does Bajaj Finserv Ltd pay dividends?

Bajaj Finserv Ltd has a dividend yield of 0.06 % at the current price of ₹1,647.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bajaj Finserv Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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