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Bajaj Finance’s stock valuation – The good, the bad, and the ugly

BFL’s business has to be seen through a prism – an NBFC, a fintech player, or a potential bank?

April 28, 2022 / 02:45 PM IST
Bajaj Finance’s stock valuation – The good, the bad, and the ugly

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Bajaj Finance (BFL; CMP-Rs 7,241; MCAP-Rs 438,373 crore) has posted strong earnings in the fourth quarter of FY22. Net profit in Q4 FY22 showed an increase of 80 percent on a lower base as the same quarter last year was impacted by the pandemic. A healthy growth in assets, better asset quality, and a fall in provisions/credit costs were the key drivers of profit even as operating expenses surged during the quarter. (image) Overall, BFL’s financial performance in FY22 was...

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