Bajaj Finserv Ltd. share price target

Consolidated AUM witnessed QoQ growth of 4% YoY to | 143550 crore, declining 1% YoY. NII declined 4% YoY to | 4296 crore, led by subdued AUM traction and interest reversal of 450 crore. Elevated provision at | 1351 crore impacted earnings which came at | 1146 crore; down 25% YoY and up 19% QoQ. Headline NPA numbers showed improvement led by standstill, however, proforma GNPA surged to 2.86% with PCR at 65%. Gross written premium in general insurance increased by 11% YoY to | 3392 crore, led by uptick in crop insurance. Crop insurance increased to | 655...

Even the life insurance business witnessed some moderation, with profit declining to Rs 118 crore from Rs 143 crore in the September-December quarter of the previous financial year. However, the general insurance business recorded a profit of Rs 330 crore as against Rs 191...

Bajaj Finance's AUM is expected to grow at 21% CAGR to | 210734 crore in FY21-23E. Improvement in NII and moderation in provisions (management guidance of 160-180 bps in FY22E) are seen keeping PAT growth at 36% CAGR in FY21-23E to | 7644 crore. RoE is seen returning to ~15% and RoA at 2.2% in FY22E. As per the management, post March, April 2021 when normalcy is likely to be achieved: 1) growth is expected to accelerate to 2527% (we factor in 20% growth in FY22E) and 2) credit costs for FY22E to be lower at 160-180 bps of average loans (we factor in 210 bps). Improved awareness and product innovation are seen keeping individual...

Bajaj Finserv slips after Q2 PAT declines 18% YoY, below estimates Consolidated total income stood at Rs 15049.48 crore in Q2 September 2020, grew nearly 6% from Rs 14221.86 crore in the same period last year. Consolidated profit before tax (PBT) stood at Rs 2,156 crore in Q2 September 2020, falling nearly 18% from Rs 2,626 crore in the same...

Bajaj Finserv's (BFS; holding company) results for Q2FY2021 were mixed; Income from operations came above estimates, but PAT declined by 19.9% y-o-y (below estimates). Lending business, Bajaj Finance Limited's (BFL) Q2FY2021 results were mixed. Operational numbers were in-line with estimates and asset quality improved sequentially. However,...

Valuation and Outlook: Valuation for the firm is done by SOTP on target of Rs. 3878 for BAF at 1 yearforward P/BV of 5.7x, Rs. 38 6 for BAGIC, and Rs. 175 for BALIC with consideration of holding company discount with 20% to reach Bajaj Finserv equity target price at Rs.8722 with upside potential of 37%. We rate the stock as BUY'.

Bajaj Finserv Q1 FY21, PAT jumps 44% to 1215 cr, above estimates Bajaj Finserv (BFS) is the holding company for the various financial services businesses under the Bajaj group. BFS holds 52.82% stake in Bajaj Finance and 74% stake in Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. Total income of the company for the June quarter rose to Rs 14,192.01 crore, up 15.64 per cent from Rs 12,272.26 crore. Profit before tax (PBT) stood at Rs 2,568.08 crore in Q1 FY21, up by 13.9% from Rs 2,255.24 crore in Q1 FY20. Total tax expense fell 19.37% YoY to Rs 645.86 crore during the quarter. PAT stood at Rs. 1215.15 crore, up by 43.74%....

Bajaj Finserv (BFS; holding company) saw consolidated net profit in Q1FY21 rise by 43.7% to Rs. 1,215 crore, while revenue increased by 15.6% y-o-y to Rs. 14,190 crore, which were better than expectations, mainly on the back of strong earnings from its insurance subsidiaries. The lending subsidiary Bajaj Finance Ltd (BFL) reported mixed numbers for Q1FY20, with tepid business growth, but a q-o-q improvement in asset quality and a decline in moratorium share to 15.7% of AUM from 27%, was a positive. Assets under management (AUM) stood at Rs. 138,055 crore, down 6% q-o-q due to steps like more stringent loan-to-value (LTV) ratios, tightened credit filters, etc....

Strong Insurance Performance; Lending Arm Equipped to Withstand COVID-19 Shock: In Q4FY20, Bajaj FinServ reported consolidated PAT of Rs. 1.9 Bn, down 77% YoY owing to the following COVID19 related impacts