BSE: 500490 | NSE: BAJAJHLDNG | Finance - NBFC | Large Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Bajaj Holdings & Investment Ltd is a good quality company.
The key valuation ratios of Bajaj Holdings & Investment Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bajaj Holdings & Investment Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 972 | 1,395 | 880 | 949 | 999 | 2,164 | 367 | 1,776 | 1,875 | 3,112 | 1,429 | |
| YoY Gr. Rt. % | - | 43.4% | -36.9% | 7.8% | 5.2% | 116.7% | -83% | 383.4% | 5.6% | 66% | - | |
| Adj EPS (₹ ) | 78 | 114.2 | 48.4 | 71.9 | 70.8 | 164.2 | 17.8 | 146.5 | 153.8 | 260.3 | 214.5 | |
| YoY Gr. Rt. % | - | 46.4% | -57.6% | 48.6% | -1.5% | 131.8% | -89.1% | 721.2% | 5% | 69.2% | - | |
| BVPS (₹ ) | 535.8 | 610.8 | 659.2 | 918.5 | 987.5 | 960.8 | 1,259.5 | 1,382.7 | 1,407.6 | 1,692.4 | 1,839.4 | |
| YoY Gr. Rt. % | - | 14% | 7.9% | 39.3% | 7.5% | -2.7% | 31.1% | 9.8% | 1.8% | 20.2% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 14 | 18.9 | 7.5 | 9.1 | 7.5 | 16.8 | 1.6 | 10.7 | 10.6 | 16.1 | 0 | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 13.8% | 25.5% | 103.8% | 66% | ||||||||
| Adj EPS | 14.3% | 29.7% | 144.4% | 69.2% | ||||||||
| BVPS | 13.6% | 11.4% | 10.4% | 20.2% | ||||||||
| Share Price | 22.6% | 23.9% | 30.1% | 47.8% | ||||||||
| RATIOS \ YEARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 133 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 89.3 | 91.1 | 61.1 | 84.3 | 78.9 | 84.4 | 54 | 91.8 | 91.3 | 93.1 | 167 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 15.1 | 19.9 | 7.6 | 9.1 | 7.4 | 16.9 | 1.6 | 11.1 | 11 | 16.8 | 11.7 | |
Total Income has increased 103.83 CAGR in last 3 years
Net Profit has increased 144.35 CAGR in last 3 years
Total income growth is good in last 4 quarters
Return on Equity has declined versus last 3 years average to 12.10%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 214.5 | 665.6 |
| TTM Sales (₹ Cr.) | 1,429 | 592 |
| BVPS (₹.) ⓘ | 1,839.4 | 5,375.3 |
| Reserves (₹ Cr.) ⓘ | 20,359 | 59,712 |
| P/BV ⓘ | 5.90 | 2.02 |
| PE ⓘ | 50.63 | 16.31 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 7044.00 / 11348.50 |
| All Time Low / High (₹) | 146.67 / 11348.50 |
| Market Cap (₹ Cr.) | 1,20,848 |
| Equity (₹ Cr.) | 111.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 27.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 1,006 | 1,401 | 888 | 954 | 1,003 | 2,206 | 431 | 1,833 | 1,937 | 3,176 |
| Interest Income | 972 | 1,395 | 880 | 949 | 999 | 2,164 | 367 | 1,776 | 1,875 | 3,112 |
| Other Income ⓘ | 34 | 7 | 8 | 5 | 5 | 42 | 64 | 57 | 62 | 64 |
| Expenditure ⓘ | 42 | 43 | 216 | 70 | 94 | 158 | 121 | 132 | 158 | 155 |
| Interest Expense ⓘ | 0 | 0 | 0 | 0 | 0 | 13 | 4 | 3 | 7 | 2 |
| Operating Expenses ⓘ | 17 | 32 | 44 | 52 | 58 | 109 | 102 | 108 | 130 | 136 |
| Provisions | 25 | 11 | 172 | 17 | 36 | 36 | 16 | 20 | 22 | 17 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 965 | 1,359 | 672 | 884 | 910 | 2,048 | 310 | 1,701 | 1,779 | 3,021 |
| Taxes ⓘ | 97 | 88 | 134 | 84 | 121 | 221 | 111 | 71 | 67 | 124 |
| Profit After Tax | 868 | 1,271 | 538 | 800 | 788 | 1,827 | 199 | 1,631 | 1,712 | 2,896 |
| Adjusted EPS (₹) | 78.0 | 114.2 | 48.4 | 71.9 | 70.8 | 164.2 | 17.8 | 146.5 | 153.8 | 260.3 |
| Dividend Payout Ratio (%) | 42% | 28% | 67% | 56% | 46% | 24% | 224% | 78% | 80% | 50% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 5,963 | 6,798 | 7,336 | 10,222 | 10,989 | 10,692 | 14,017 | 15,388 | 15,665 | 18,835 |
| Share Capital ⓘ | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 |
| Reserves ⓘ | 5,852 | 6,687 | 7,225 | 10,110 | 10,878 | 10,581 | 13,905 | 15,277 | 15,554 | 18,724 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | 31 | 33 | 35 | -165 | -135 | -40 | 301 | 512 | 508 | 720 |
| Current Liabilities | 463 | 139 | 31 | 44 | 51 | 229 | 185 | 169 | 148 | 146 |
| Trade Payables | 1 | 1 | 1 | 0 | 1 | 4 | 1 | 4 | 2 | 3 |
| Short term borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | -1 | -1 | -1 | 0 | -1 | -4 | -1 | -4 | -2 | -3 |
| Total Liabilities ⓘ | 6,457 | 6,970 | 7,402 | 10,101 | 10,906 | 10,881 | 14,503 | 16,069 | 16,321 | 19,701 |
Assets | ||||||||||
| Non Current Asset | 5,976 | 5,447 | 5,486 | 9,828 | 10,777 | 10,352 | 13,929 | 15,541 | 15,641 | 17,816 |
| Loan Asset | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non Current Asset ⓘ | 5,976 | 5,447 | 5,486 | 9,828 | 10,777 | 10,352 | 13,929 | 15,541 | 15,641 | 17,816 |
| Current Asset | 481 | 1,523 | 1,917 | 273 | 129 | 530 | 574 | 528 | 680 | 1,886 |
| Current Investment | 373 | 23 | 1,808 | 24 | 7 | 393 | 458 | 415 | 559 | 1,745 |
| Other Current Asset | 108 | 1,500 | 109 | 249 | 122 | 137 | 116 | 113 | 121 | 141 |
| Total Assets ⓘ | 6,457 | 6,970 | 7,402 | 10,101 | 10,906 | 10,881 | 14,503 | 16,069 | 16,321 | 19,701 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 776 | 1,143 | -913 | 1,629 | 627 | 1,849 | 225 | 1,581 | 1,669 | 1,875 |
| Cash Flow From Investing Activity ⓘ | -445 | 1,022 | -383 | -1,123 | -163 | -844 | -188 | -106 | -133 | -460 |
| Cash Flow From Financing Activity ⓘ | -391 | -759 | -110 | -432 | -536 | -988 | -35 | -1,475 | -1,532 | -1,402 |
| Net Cash Flow ⓘ | -59 | 1,406 | -1,406 | 74 | -72 | 17 | 2 | 0 | 4 | 13 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 78 | 114 | 48 | 72 | 71 | 164 | 18 | 147 | 154 | 260 |
| DPS (₹) | 33 | 33 | 33 | 40 | 33 | 40 | 40 | 115 | 123 | 131 |
| BVPS (₹) | 536 | 611 | 659 | 918 | 987 | 961 | 1259 | 1383 | 1408 | 1692 |
Performance Ratios | ||||||||||
| ROA (%) | 14.0 | 18.9 | 7.5 | 9.1 | 7.5 | 16.8 | 1.6 | 10.7 | 10.6 | 16.1 |
| ROE (%) | 15.1 | 19.9 | 7.6 | 9.1 | 7.4 | 16.9 | 1.6 | 11.1 | 11.0 | 16.8 |
| ROCE (%) | 16.8 | 21.3 | 9.5 | 10.1 | 8.6 | 19.0 | 2.5 | 11.6 | 11.5 | 17.5 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 2.4 | 2.4 | 3.3 | 2.9 | 3.5 | 1.9 | 2.6 | 3.6 | 4.2 | 4.9 |
Bajaj Holdings & Investment (BHIL) - erstwhile Bajaj Auto (BAL) - was de-merged as per the Bombay High Court order dated 18 December 2007. The company is essentially a holding and investment company focusing on earnings income through dividend, interest and gains on investments held. Bajaj Auto is the flagship company of the Bajaj Group. The group comprises of 35 companies and was founded in the year 1926.
As part of the demerger Scheme, Bajaj Holdings and Investment, the auto company, was renamed as Bajaj Auto and the erstwhile Bajaj Auto was renamed as Bajaj Holdings & Investment (which would act as the primary investment company).
The process of demerger of erstwhile BAL, which was approved by the board of directors of the company on May 17, 2007 was completed with all approvals being obtained, including that of Bombay High Court and SEBI. Pursuant to the Scheme of Arrangement of Demerger, Bajaj Holdings & Investments Ltd (BHIL, erstwhile BAL) was demerged into three undertakings with effect from the effective date, viz. 20 February 2008. Further Pursuant to the Scheme of Demerger, the GDR programs for Bajaj Auto Limited (BAL) and Bajaj Finserv Limited (BFS) got established on August 21, 2008.
After the demerger BHIL’s manufacturing undertaking was transferred to the new Bajaj Auto (BAL) while its business undertaking consisting of wind farm business and financial services business has been transferred to Bajaj Finserv (BFS) and the company was focusing on new business opportunities. Post-demerger, BHIL holds over 30% shares each in BAL and BFS. Going forward, BHIL will focus on new business opportunities. BAL and BFS will be able to tap (on an arm’s length basis) into BHIL’s cash pool to support future growth opportunities. BHIL by having more than 30% stake in both BAL and BFS will benefit from the future growth of these companies.
The decision of demerging the company was taken in view of the growth opportunities in the auto, wind energy, insurance and finance sectors and it was decided that it was timely and appropriate to de-merge these activities into separate entities, each of which can focus on these core businesses and strengthen its competencies.
BHIL has been registered as a Non-Banking Financial Company (NBFC) under the Registration No. N-13.01952 dated October 29, 2009 with Reserve Bank of India (RBI). The company is classified as a ‘Systemically Important Non-deposit taking NBFC’ as per RBI regulations.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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