Bajaj Finance Ltd share Price Today

Bajaj Finance, a strong NBFC with digital footprints, made a strong comeback with AUM growth reaching ~26-28% YoY. Harnessing its large franchise base digitally offers a huge opportunity. Housing forms 31% of the book.

• Bajaj Finance maintained strong operating metrics over various credit, rate cycles leading to >19% RoE, >4% RoA and maintains that guidance also

In line performance; robust long term guidance maintained.

• AUM grew 25% YoY (core AUM grew 29% YoY), NII growth at 23.8% YoY to ₹7433 crore, marginal uptick in cost of funds
• Asset quality has improved with Q4 GNPA and NNPA ratio declining to 0.94% and 0.34% from 1.14% and 0.41%, respectively, in Q3FY23
• PAT grew 30% YoY, 6% QoQ to ₹ 3156 crore, with RoE at 24% and RoA at 5.4% (annualised)

Bajaj Finance announced Q4FY24 & FY24 results: 

Standalone Q4FY24 Financial Highlights:

• Assets under management grew by 35% to Rs 2,44,826 crore as of 31 March 2024 from Rs 1,80,999 crore as of 31 March 2023. 
• Net interest income increased by 29% in Q4FY24 to ~7,340 crore from Rs 5,669 crore in Q4FY23.
• Net total income increased by 25% in Q4FY24 to Rs 8,904 crore from Rs 7,105 crore in Q4FY23.
• Pre-provisioning operating profit increased by 26% in Q4FY24 to Rs 5,844 crore from Rs 4,633 crore in Q4FY23.
• Loan losses and provisions for Q4FY24 was Rs 1,278 crore as against Rs 803 crore in Q4FY23. The Company holds a management and macro-economic overlay of Rs 206 crore as of 31 March 2024.
• Profit before tax increased by 19% in Q4FY24 to Rs 4,566 crore from Rs 3,830 crore in Q4FY23.
• Profit after tax increased by 20% in Q4FY24 to Rs 3,402 crore from Rs 2,837 crore in Q4FY23.

Standalone FY24 Financial Highlights:

• Net interest income increased by 29% in FY24 to Rs 26,940 crore from Rs 20,857 crore in FY23.
• Net total income increased by 25% in FY24 to Rs 33,103 crore from Rs 26,405 crore in FY23.
• Pre-provisioning operating profit increased by 28% in FY24 to Rs 21,625 crore from Rs 16,948 crore in FY23.
• Loan losses and provisions for FY24 was Rs 4,572 crore as against Rs 3,066 crore in FY23. The Company holds a management and macro-economic overlay of Rs 206 crore as of 31 March 2024.
• Profit before tax increased by 23% in FY24 to Rs 17,053 crore from Rs 13,882 crore in FY23.
• Profit after tax increased by 23% in FY24 to Rs 12,644 crore from Rs 10,290 crore in FY23.

Consolidated Q4FY24 Financial Highlights:

• Number of new loans booked grew by 4% in Q4FY24 to 7.87 million as against 7.56 million in Q4FY23.The new loans booked during the quarter were lower by approximately 0.80 million.
• Customer franchise stood at 83.64 million as of 31 March 2024 as compared to 69.14 million as of 31 March 2023, a growth of 21%. The Company's customer franchise grew by 3.23 million in Q4FY24.
• Assets under management (AUM) grew by 34% to Rs 3,30,615 crore as of 31 March 2024 from Rs 2,47,379 crore as of 31 March 2023. AUM grew by Rs 19,647 crore in Q4FY24.
• Net interest income increased by 28% in Q4FY24 to Rs 8,013 crore from Rs 6,254 crore in Q4FY23.
• Net total income increased by 25% in Q4FY24 to Rs 9,714 crore from Rs 7,775 crore in Q4FY23.
• Pre-provisioning operating profit increased by 25% in Q4FY24 to Rs 6,412 crore from Rs 5,118 crore in Q4FY23.
• Loan losses and provisions for Q4FY24 was Rs 1,310 crore as against Rs 859 crore in Q4FY23. The
• Company holds a management and macro-economic overlay of Rs 300 crore as of 31 March 2024.
• Profit before tax increased by 20% in Q4FY24 to Rs 5,105 crore from Rs 4,261 crore in Q4FY23. The profit before tax for the quarter was impacted by approximately 4%.
• Profit after tax increased by 21% in Q4FY24 to Rs 3,825 crore from Rs 3,158 crore in Q4FY23.
• Gross NPA and Net NPA as of 31 March 2024 stood at 0.85% and 0.37% respectively, as against 0.94% and 0.34% as of 31 March 2023. The Company has provisioning coverage ratio of 57% on stage 3 assets.
• Capital adequacy ratio (CRAR) (including Tier-II capital) as of 31 March 2024 was 22.52%. The Tier-I capital was 21.51%.
• The Company has made required changes in response to the regulatory restriction imposed by RBI on the Company, on sanction and disbursal of loans under 'eCOM' and 'lnsta EMI Card'. 
• The Company enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1 for short-term debt programme from CRISIL, ICRA and India Ratings and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.
• The Company has been assigned long-term issuer rating of BBB-/Stable and short-term issuer rating of A-3 by S&P Global ratings.
• During the quarter, the Company availed loans amounting to USD 725 million (equivalent to Rs 6,016 crore) from various banks under its external commercial borrowing (ECB) programme. 

Consolidated FY24 Financial Highlights:

• Number of new loans booked grew by 22% in FY24 to 36.20 million as against 29.58 million in FY23.
• Customer franchise stood at 83.64 million as of 31 March 2024 as compared to 69.14 million as of 31 March 2023, a growth of 21%. The Company's customer franchise grew by 14.5 million in FY24.
• Net interest income increased by 29% in FY24 to Rs 29,582 crore from Rs 22,989 crore in FY23.
• Net total income increased by 26% in FY24 to Rs 36,258 crore from Rs 28,858 crore in FY23.
• Operating expenses to net total income for FY24 was 34.0% as against 35.1% in FY23.
• Pre-provisioning operating profit increased by 28% in FY24 to Rs 23,933 crore from Rs 18,716 crore in FY23.
• Loan losses and provisions in FY24 was Rs 4,631 crore as against Rs 3,190 crore in FY23. The Company holds a management and macro-economic overlay of Rs 300 crore as of 31 March 2024. 
• Profit after tax increased by 26% in FY24 to Rs 14,451 crore from Rs 11,508 crore in FY23.

Result PDF