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Bajaj Finance Q2 FY27 Share Price & Earnings Call Analysis

₹917.25+0.58% today
Market cap
₹5.71L Cr
P/E
27.90
ROE
18.25%
PEG
1.50
Price to sales
6.64
Debt to equity
3.82
52W high / low
₹1,178 / ₹788
Sales growth (5Y)
25.18%
EBITDA margin
68.14%
Net profit margin
23.83%
Promoter holding
54.67%
Sales (last year)
₹85,964 Cr

Bajaj Finance is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME and commercial customers with a significant presence in urban and rural India. It also accepts public and corporate deposits and offers variety of financial services products to its customers.(Source : 202003 Annual Report Page No:124)

Guidance scorecard · Q2 FY27 call

What Bajaj Finance's management guided
and where it ranks in Finance

#14of 59 in
Finance
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ2 FY27 call

20–40%
  • Bajaj Finance expects medium-term loan growth guidance of 26%-27% for FY27, with a longer-term compounding guidance of 20%-25%.
  • The company aims to add 18 to 20 million new customers in FY27, with new loans projected between 60 to 62 million.
  • Secular growth is expected across all business lines, including urban consumer finance (43% growth), rural consumer finance (63%), and MFI (54%).
  • The gold loan book is growing, with a network expansion targeting around 2,800 branches by year-end.
  • Management remains confident about comfortable growth despite pruning business in drought-affected and stressed rural districts.

2 more points from Bajaj Finance's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what Bajaj Finance said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Bajaj Finance plans a significant capital raise of INR 11,700 crores through QIP and preferential warrants to Bajaj Finserv, subject to shareholder approval.
  • The capital raise is primarily aimed at supporting the company's growth story in India and its subsidiaries.
  • No immediate dilution is planned; focus is on sustaining medium-term ROA and ROE goals.
  • There is ongoing investment in AI and digital infrastructure: FINAI transformation scaled with 328 AI personnel, deployment of facial recognition tech in 534 stores and 1,163 service branches.
  • AI bots currently handle 75% of DIY customer service volumes.

2 more points from Bajaj Finance's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

Planned

See what Bajaj Finance said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Rising

Ask what Bajaj Finance said on the order book →

Full Q2 FY27 analysis
Full Finance ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Finance
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Bajaj Finance rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Finance companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,742 Cr71.8
240%+Up 2%+₹464 Cr23.9
340%+Up 0–2%₹961 Cr32.7
440%+Flat₹1.43L Cr83.4
540%+Flat₹23,820 Cr21.1
640%+Flat₹16,498 Cr72.4

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Bajaj Finance announcements

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Financials of Bajaj Finance

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Bajaj Finance

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +54.78%54.69%54.70%54.70%54.70%54.73%54.73%54.67%54.70%54.71%54.68%54.67%
FIIs +20.92%20.55%21.08%20.81%20.79%21.45%21.71%21.97%21.49%21.33%20.20%19.78%
DIIs +14.01%14.33%14.23%15.01%15.08%14.78%14.52%14.39%14.86%15.10%16.30%16.96%
Government +0.07%0.07%0.09%0.09%0.08%0.08%0.08%0.08%0.08%0.08%0.09%0.09%
Public +10.17%10.19%9.83%9.36%9.32%8.84%8.92%8.78%8.77%8.73%8.64%8.46%
Others +0.05%0.16%0.08%0.05%0.04%0.10%0.03%0.12%0.10%0.07%0.08%0.03%
No. of Shareholders7,45,0407,99,1998,05,2417,81,9137,91,3927,05,6108,99,7779,41,9999,61,99410,02,9459,85,1589,52,483

Financials of Bajaj Finance

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +13,38214,16414,92616,10017,09118,03518,29419,52419,99021,01321,60623,16524,546
Interest4,5374,8685,2175,6846,1496,3866,5516,9187,0117,3397,3987,9428,602
Expenses +3,9314,2294,4204,9565,3385,6915,8655,9926,1197,7376,5536,7937,120
Financing Profit4,9145,0665,2895,4605,6045,9585,8796,6146,8615,9377,6548,4308,825
Financing Margin %37%36%35%34%33%33%32%34%34%28%35%36%36%
Other Income +25957262155-26211633
Depreciation159176193200210219252251258244256288321
Profit before tax4,7584,8965,1055,2655,4015,7655,6476,3686,6085,4317,4108,1498,537
Tax %25%26%25%26%26%25%20%25%25%25%25%25%25%
Net Profit +3,5513,6393,8253,9124,0144,3084,5464,7654,9484,0665,5536,0816,367
EPS in Rs5.865.896.186.326.466.867.217.567.846.398.789.6110.06
Gross NPA %0.91%0.95%0.85%0.86%1.06%1.12%0.96%1.03%1.24%1.21%1.01%0.96%1.06%
Net NPA %0.31%0.37%0.37%0.38%0.46%0.48%0.44%0.50%0.60%0.47%0.41%0.39%0.42%

Financials of Bajaj Finance

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +5,3927,2999,97012,74618,48726,37526,67331,63341,41154,97268,83281,98590,331
Interest2,2742,9593,8534,6966,7239,6089,5199,84812,70118,88624,99128,89931,281
Expenses +1,7522,3543,2504,1155,4549,15910,83911,88012,69316,09920,87825,99828,203
Financing Profit1,3671,9862,8673,9356,3107,6096,3149,90516,01819,98722,96327,08830,847
Financing Margin %25%27%29%31%34%29%24%31%39%36%33%33%34%
Other Income +263522101383-17-56-2-263-212
Depreciation3656711021442953253854856838811,0091,108
Profit before tax1,3571,9652,8173,8436,1797,3225,9929,50415,52819,31022,08025,81729,527
Tax %34%35%35%35%35%28%26%26%26%25%24%25%
Net Profit +8981,2791,8362,4963,9955,2644,4207,02811,50814,45116,77919,33222,066
EPS in Rs1.792.373.344.326.918.757.3311.6119.0123.3526.7730.5634.84
Dividend Payout %10%10%11%9%9%11%14%17%16%15%21%20%

Financials of Bajaj Finance

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital5054109115115120120121121124124622622
Reserves4,7507,3739,49115,73319,58232,20836,79843,59254,25176,57296,569113,377122,557
Borrowing26,65537,02549,25066,557101,588129,806131,634165,232216,690293,346361,249435,112501,982
Other Liabilities +1,3252,5224,8812,3932,9482,2572,9183,5614,1645,7008,18510,84114,281
Total Liabilities32,78046,97363,73184,798124,233164,391171,470212,505275,226375,742466,127559,952639,443
Fixed Assets +2522903664706951,3211,3161,7162,3083,2503,7803,9474,422
CWIP000000513480434111976
Investments3261,0294,0703,1398,59917,54418,39712,24622,75230,88134,44130,57831,744
Other Assets +32,20145,65459,29581,189114,939145,526151,707198,509250,087341,568427,865525,309603,201
Total Assets32,78046,97363,73184,798124,233164,391171,470212,505275,226375,742466,127559,952639,443

Financials of Bajaj Finance

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-7,064-9,870-10,439-20,566-29,062-24,412-807-37,029-42,112-72,760-67,792-65,790
Cash from Investing Activity +-360-687-3,0471,075-5,379-8,758-4296,347-10,394-7,171-2,765-3,389
Cash from Financing Activity +6,86711,65612,51319,50334,44934,1671,74132,24050,67582,41570,16567,433
Net Cash Flow-5571,100-9721399985051,558-1,8312,484-392-1,746
Free Cash Flow-7,129-9,964-10,587-20,700-29,428-24,912-1,105-37,644-42,970-73,759-68,837-66,686

Financials of Bajaj Finance

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %19%21%22%20%22%20%13%17%23%22%19%18%

Guidance history

How Bajaj Finance's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →20–40%FlatPlannedPlannedRising
Q1 FY27 call →20–40%FlatPlannedNone planned—
Q4 FY26 call →20–40%FlatPlanned—Rising
Q4 FY26 call →20–40%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

23out of 100

Momentum score · price trend

23 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−14.5%43%
Last 6 months−1.4%53%
Last 3 months−13.0%35%

The price is 20.8% below its all-time high of ₹1,158.8 (5 Aug 2026). Stocks more than 20% below their peak have their score halved, so 46 became 23.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bajaj Finance: 0.4 × 43 + 0.4 × 53 + 0.2 × 35 = 46, halved to 23 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What Bajaj Finance's management said in earlier quarters

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