Categories Research Summary, Research Tear sheet

Bajaj Finance Limited Research Tear Sheet Q3 FY 2022

Bajaj Finance is anon-banking financial company engaged  in providing two and three-wheeler finance. The company has its headquarter in Pune, India. The company has started its operation 11 years ago. Bajaj Auto Finance Ltd has launched its initial public issue of equity and the shares are traded on the Bombay Stock Exchange and National Stock Exchange of India.

Key Financial Highlights

( In Crore)Q3 FY 22Q3 FY 21
Revenue from operations8,532.586,656.13
Profit before tax2,867.981,554.51
Profit after tax2,125.291,145.98

PAT increased 85% to Rs 2,125 crores.

Total income grew 28% to Rs 8,535 crores.

Gross NPA 0.78% in Q3 FY 2022.

Capital adequacy ratio 26.96%.

ROE increased 5.5% Y-O-Y.

Net Interest increased by 40% Y-O-Y.

Subsidiary companies

Bajaj Housing Finance Limited (BHFL)

AUM increased by 39% to ₹ 49,203 crore in Q3 FY 2022.

Net Interest Income increased by 30% to ₹ 429 crore.

Loan losses and provisions for Q3 FY22 was ₹ 56 crore as against ₹ 107 crore in Q3 FY21.

Profit after tax increased 87% to ₹ 185 crore in Q3 FY2022.

Bajaj Financial Securities Limited (BFSL)

It has acquired 65K customers in Q3 FY22. Its Retail and HNI customer franchise stood at 269K.

Total income stood ₹ 38 Crore in Q3 FY22.

Net profit in this sector for Q3 FY22 was ₹ 7 Crore against ₹ 1 Cr in Q3 FY21.

Conference Call Highlights:

Management Updates

The company has principal outstanding of Rs 213.35 crores and 681.18 crores for the quarter.

Bajaj Finance has the largest market cap in the consumer finance sector at Rs 4.73 lakhs.

The P/E ratio is 10.7 while the P/B ratio is 12.82.

Deposits book increased by 28% YOY to ₹ 30,481 crore.

Loan losses and provisions  is₹ 1,051 crore in Q3.

Business Updates

NBFC has added 73 new loans in Q3 FY 2022.

The company has acquired d 492K new EMI card customers digitally.

In Q3, the company has booked 393K new loans from the marketplace. EMI store currently hosts 27,917 SKUs across 23,250 merchants.

The Payment Aggregator (PA) & Bharat Bill Pay Operating Unit (BBPOU) is waiting for regulatory approvals.

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