Company Introduction
Headquarters Location: Mumbai, India
Core Business Summary: Bajaj Holdings & Investment Ltd is a holding company that invests in and manages various businesses, including finance, insurance, and automotive.
Overview
₹ 12,146
16.10
755
₹ 135,177 Cr
Company Overview
Industry Sector: Financial Services
Industry Trends
Industry Growth Next 5 Years: 8-10% annually
Key Demand Drivers: Growing middle class, increasing financial inclusion, and digitalization
Last 5 Year Cagr Industry Growth: 12.1%
Major Competitors: Tata Group, Reliance Industries, and Adani Group
Financials
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 470 | 842 | 420 | 431 | 435 | 457 | 484 | 522 | 1,702 | 739 |
| YoY % | +79.1% | -50.1% | +2.6% | +0.9% | +5.1% | +5.9% | +7.9% | +226.1% | -56.6% | |
| EBITDA | 434 | 633 | 360 | 351 | 334 | 386 | 401 | 414 | 1,596 | 593 |
| YoY % | +45.9% | -43.1% | -2.5% | -4.8% | +15.6% | +3.9% | +3.2% | +285.5% | -62.8% | |
| Net Profit | 2,265 | 2,473 | 2,655 | 3,048 | 3,080 | 3,654 | 4,126 | 4,946 | 7,365 | 6,626 |
| YoY % | +9.2% | +7.4% | +14.8% | +1.0% | +18.6% | +12.9% | +19.9% | +48.9% | -10.0% | |
| EPS | 203.54 | 222.22 | 238.54 | 273.90 | 268.84 | 327.95 | 364.41 | 435.83 | 652.98 | 585.90 |
| YoY % | +9.2% | +7.3% | +14.8% | -1.8% | +22.0% | +11.1% | +19.6% | +49.8% | -10.3% |
Growth Drivers
Historical Growth Drivers: Strategic investments, diversification, and strong brand presence
Future Growth Drivers: Digital transformation, expansion into new markets, and increasing demand for financial services
Examples: Bajaj Finance's digital platform, Bajaj Allianz's insurance products, and Bajaj Auto's export growth
Market Position
Competitive Position: Strong brand presence and diversified portfolio
Estimated Market Share: 5-7% in the Indian financial services sector
Technological Maat: Investments in digital platforms and data analytics
Strengths
- Bajaj brand valued at over ₹1,000 billion
- Investments across finance, insurance, and automotive sectors
- Revenue growth of 15.1% and net profit growth of 21.1% in FY2022
- Leadership team with average experience of over 20 years
Weaknesses
- Changes in government regulations and policies
- Increasing competition from new entrants and established players
- Exposure to economic downturns and industry cycles
- Dependence on key personnel and leadership team
Valuations
Valuations for BAJAJHLDNG
| Formula | Bull | Base | Bear | Margin of Safety |
|---|---|---|---|---|
| Ben Graham | ₹ 13,516 | ₹ 13,516 | ₹ 4,980 | 10.1% |
| Peter Lynch | – | ₹ 5,859 | – | -107.3% |
Rule of thumb (Lynch):
PEG ≈ 1 → Fairly valued
PEG < 1 → Undervalued (growth cheap relative to earnings)
PEG > 1.5 → Overvalued
Outlook
Balanced Analysis: The company's strong brand presence, diversified portfolio, and investments in digital platforms position it for growth, but regulatory risks, competition, and cyclical exposure pose challenges.
Opportunities: Growing demand for financial services, increasing digitalization, and expansion into new markets
Risks: Regulatory changes, competition, and economic downturns
Horizon: 3-5 years
Stock Price Performance
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price | 1,482.35 | 2,168.25 | 2,622.85 | 3,352.15 | 1,754.55 | 3,338.70 | 5,398.85 | 5,819.50 | 8,407.55 | 11,911.45 |
| YoY % | +46.3% | +21.0% | +27.8% | -47.7% | +90.3% | +61.7% | +7.8% | +44.5% | +41.7% |
Stock 3 Year Rolling CAGR
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Average |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | -3.68% | -20.01% | 1.18% | 1.97% | 3.62% | 4.53% | 52.07% | 12.29% | 6.50% |
| EBITDA | -6.04% | -17.84% | -2.47% | 3.22% | 6.28% | 2.36% | 58.48% | 12.72% | 7.09% |
| Net Profit | 5.44% | 7.22% | 5.07% | 6.23% | 10.24% | 10.62% | 21.31% | 10.24% | 9.55% |
| EPS | 5.43% | 7.22% | 4.07% | 6.19% | 10.67% | 9.94% | 21.46% | 10.37% | 9.42% |
| Price | 20.95% | 15.63% | -12.54% | -0.13% | 45.45% | 20.35% | 15.91% | 26.97% | 16.57% |
