Sharekhan's research report on Bajaj Finance
Bajaj Finance reported robust operating performance with strong consolidated AUM growth of 29% y-o-y and 9% q-o-q in FY2022. PAT grew by 80% y-o-y in Q4Y2022, the highest-ever consolidated profit by the company. NII stood at Rs. 6,068 crore versus our expectations of Rs. 5,105 crore, up 30% y-o-y and 1% q-o-q. Asset quality continued to witness improvement during the quarter with stage-3 assets at 1.6%, down by ~14 bps q-o-q. Consolidated AUM at Rs. 1.97 trillion was up ~29% y-o-y/~9% q-o-q, added Rs. 16,250 crore worth of loans sequentially.
Outlook
At the CMP, the company trades at 8.2x its FY2023E P/BV. We maintain our Buy rating on the stock with a revised PT of Rs. 9,097.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
