Categories Research Summary, Research Tear sheet

Bajaj Finance Limited Research Tear Sheet Q4 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

Rs in Crore31 .03.202231.3.2021
Total revenue from operations7,617.086,006.18
Total expenses4,560.734,438.74
Profit after tax2,267.951, 160.8
Diluted EPS37.3619.17

Standalone Highlights

For Q4 FY 2022 the Profit after Tax increased by 80% to₹ 2,420 Crores.  The core AUM  increased by 26% YOY to 1,92,087 Crores. The Net NPA shows an improvement. It  got reduced from 0.75% to 0.68% in Q4 FY 2022. The company has booked 6.28 MM new loans. It has added 2.21 MM new customers to its franchise in Q4 FY 2022.

Consolidated Highlights

Net Interest Income increased by 27% to ₹ 21,892 crore in FY 2022. Profit after tax shows an improvement of 59% to ₹ 7,028. The company shows an improvement of 4.2% and 17.4% for ROE. For FY 2022 the ROE stood at  17.5%; and net NPA is at 68 basis points.

Subsidiary companies

Bajaj Housing Finance Limited (BHFL)- The BHFL is a100% subsidiary of Bajaj Finance Limited. This mainly provides home loan to the customer. . Profit after tax stood at ₹ 710 crore for FY22. At present the company has its operation in 26 locations. The BHFL gross NPA, net NPA performance stood at 31 basis points and 14 basis points respectively.

Bajaj Financial Securities Limited (BFSL)- The BHFL is a100% subsidiary of Bajaj Finance Limited. It is registered with the Securities Exchange Board of India. The company has earned a profit after tax of ₹ 9 crore in Q4 FY22 and for FY 22 the profit  stood at ₹ 17 crore. The BFSL has its presence in 7 states of India with a High Net worth customers.

Conference Call Highlights:

Management Updates

The company has added 81 new locations now it has a presence in 3,504 locations and has 133,000 distribution points.

The company has recommended a dividend of INR20 per equity share.

Bajaj Finance has added 1.1 million UPI handles.

 The digital app platform has delivered INR1,800 crores of personal loans in the quarter.

The company intends to add 14 million to 16 million net new users.

The company has acquired 455,000 new EMI card customers digitally.

Customer franchise stood at 57.57 million with a growth of 19%.

Business Updates

Bajaj Finance Ltd has decided to offers Pre-approved Personal Loans up to Rs. 10 Lakh to its Existing Customers.

The company has invested INR2,500 crores of additional capital for further growth of BHFL company.

The customer franchise increased by 19% and stood at 57.57 million.

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