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  • Bajaj Finance

Bajaj Finance

  • Posted by Trading Campus
  • Date July 19, 2017
  • Comments 161 comments


COMPANY PROFILE OF BAJAJ FINANCE LTD , NSE, INDIA
Bajaj Finance Limited is a Non-Banking Finance Company engaged in consumer finance, SME finance and commercial lending. Bajaj Financial Solutions Limited, a wholly owned subsidiary of Bajaj Finserv Limited is engaged in wealth management and advisory business. Bajaj Finance Ltd focuses on six business verticals: (i) Consumer Lending, (ii) SME Lending, (iii) Commercial Lending, (iv) Rural Lending, (v) Deposits, and (vi) Partnerships and Services. Its consumer lending products include two-wheelers and three-wheelers finance, consumer durables finance, digital products finance, retailer finance, salaried personal loans, e-commerce consumer finance, e-commerce seller finance and home loan. It’s SME lending products include loan against property and business loans. Its commercial lending products include loan against securities and financial institutions group lending business. Its rural lending products include personal loans cross-sell, salaried personal loans and gold loans. It offers retail fixed deposits and wholesale fixed deposits. It is engaged in life insurance distribution, general insurance distribution and mutual fund distribution.

Chairman Mr Rahul Bajaj Vice Chairman Nanoo Pamnani Managing Director Rajeev Jain
Date of Listing 09-Feb-95 Vice Chairman Sanjiv Bajaj Website www.bajajfinserv.in/finance
Date of Inc. 25-Mar-87 Registered Office Address C/o Bajaj Auto Ltd, Mumbai – Pune Road, Akurdi, 411035, Pune, Maharashtra, India.

Bajaj Finance Stock Fundamental View:

Bajaj Finance Ltd. (‘Bajaj Finance’, ‘BFL’ or ‘the Company’) enjoyed yet another strong year of performance aided by a diversified product mix, robust volume growth, prudent operating cost and effective risk management. With assets under management of Rs 60,194 crores, BFL has emerged as one of the leading diversified NBFCs in the country. BFL continued to be the largest consumer durables lender in India in FY2017 with 14100 dealers across country. BFL was the largest financier of Bajaj motorcycles and three-wheelers in FY2017 and operates at the premises of approximately 3,661 Bajaj dealers and sub-dealers across the country. In April 2016, BFL expanded its EMI card financing propositions for its customers in new retail Categories like fashion, travel, insurance, small appliances, digital & lifestyle products and on ecommerce platforms, Steps are taken for moving towards healthcare Financing too. IPO Financing was started in FY2017 to add another product offering in the Loan against Securities business. Three new industry verticals, viz. Corporate Finance, Financial Institutions Group (FIG) lending business and Light Engineering were launched in FY2016.

Bajaj Finance Ltd. (BFL): Performance Highlights, F.Y 2017:

  • New loans booked exceeded 10 million in numbers, which is a first for the Company.
  • Assets under management increased by 36% to Rs 60,194 crore.
  • Receivables under financing rose by 33% to Rs 56,832 crore.
  • Total income grew by 36% to Rs 10,003 crore.
  • Profit before tax increased by 43% to Rs 2,818 crore and l Profit after tax increased by 44% to Rs 1,837 crore.
  • Loan losses and provisions were Rs 818 crore. BFL’s net NPA stood at 0.44%, and was among the lowest in the NBFC industry.
  • Capital adequacy as on 31 March 2017 was 20.30%, which is not only higher than the previous year but also well above the RBI norms. Tier I capital adequacy was 14.56%.

Overview of BAJAJ FINANCE STOCK :

Bajaj Finance Limited NSE historical chartBajaj Finance Stock Price QuoteBajaj Finance future and option price

Growth Rate
Year FY2013 FY2014 FY2015 FY2016 FY2017 CAGR (%)
Asset Under Management (Rs. Cr.) 17517 24061 32410 44229 60194 36
Operating Income (Rs. Cr.) 3,092 4,032 5,382 7,294 9,977 32
PAT (Rs. Cr.) 591 719 898 1279 1837 33
Book value 67.66 80.22 95.99 136.78 175.56 29.98
Adjusted EPS (Rs.) 11.94 14.45 17.96 23.88 34.01 28.70

 

BAJAJ FINANCE share price Quotes and Analysis
revenue per share

Bajaj Finance Stock market report
earnings per share

bajaj finance share price target
Return on Equity

The capital adequacy ratio, also known as capital to risk-weighted assets ratio, measures a bank’s financial strength by using its capital and assets. Generally, a bank with a high capital adequacy ratio is considered safe and likely to meet its financial obligations. Standard Car ratio to be maintained by Indian Banks and NBFC’s is 12%. Bajaj finance was able to maintain a good CAR of 20.3 %A Non-performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of Bond finance principal has remained ‘past due’ for more than 90 days. NPA is used by financial institutions that refer to loans that are in jeopardy of default. Standard NPA ratio is 0.50%. Bajaj Finance was able to consistently maintain its ratio at lower levels indicating better process for giving loans.Bajaj Finance financial report

 

Income Statement
Year Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17
Operating Income 2,163.02 3,092.01 4,032.44 5,381.80 7,293.54 9,977.36
Other Income 89.72 92.82 103.62 175.9 39.84 25.95
Total Income 2,252.74 3,184.83 4,136.06 5,557.70 7,333.38 10,003.31
Interest Expense 759.33 1,220.73 1,591.67 2,273.74 2,958.78 3,852.63
Operating Expenses 879.42 1,072.94 1,424.04 1,891.42 2,353.69 3,262.00
Provisions and Contingencies 303.12 355.67 451.71 664.19 724.87 1,090.29
PBT & Exceptional Items 602.22 871.6 1,091.16 1,356.94 1,964.57 2,817.52
Profit before Tax 602.22 871.6 1,091.16 1,356.94 1,964.57 2,817.52
Taxes 195.78 280.29 372.15 459.07 686.05 980.97
Profit after Tax 406.44 591.31 719.01 897.87 1,278.52 1,836.55
Balance Sheet
Liabilities
Share Capital 41.32 49.54 49.75 50 53.55 109.37
Total Reserves 1,970.93 3,302.44 3,941.11 4,749.70 7,271.06 9,490.94
Shareholder’s Funds 2,033.57 3,351.98 3,990.86 4,799.70 7,426.64 9,600.31
Long Term Borrowings 6,407.86 7,503.08 10,477.76 18,273.6 25,286.97 33,115.96
Other Non-Current Liabilities 60.79 106.6 1,055.20 1,549.99 2,484.17 3,394.71
Current Liabilities 4,426.70 6,844.61 10,332.96 9,910.11 14,260.84 21,151.78
Total Liabilities 12,928.9 17,806.3 25,856.78 34,533.4 49,458.62 67,262.76
Assets
Loans (Non – Current Assets) 6,569.21 9,548.19 13,852.42 18,119.7 24,778.55 32,028.10
Net Block 138.79 176.21 219.87 249.18 287 361.13
Non-Current Investments 5.48 5.26 – 175.09 485.15 1,090.30
Other Non-Current Assets 140.91 163.17 1,092.73 1,563.02 2,173.66 2,976.56
Current Investment – – 28.21 157.2 548.92 2,984.40
Cash and Bank Balances 59.83 416.37 776.81 228.62 1,329.15 356.52
Short Term Loans & Advances 5,938.69 7,428.87 9,808.02 13,874.8 19,644.37 27,141.99
Other Current Assets 76.01 68.2 78.72 165.84 211.82 323.76
Total Assets 12,928.9 17,806.3 25,856.78 34,533.4 49,458.62 67,262.76
Cash Flow Statement
Cash Flow from Operations -4,568.06 -3,250.87 -6,086.57 -7,147.14 -9,870.83 -10,500.23
Cash Flow from Investing Activities -50.91 -56.37 -95.81 -365.42 -685.9 -2,987.61
Cash Flow from Finance Activities 3,807.13 3,663.78 6,542.82 6,953.19 11,656.20 12,515.95
Net Cash Inflow/Outflow -811.84 356.54 360.44 -559.37 1,099.47 -971.89
Key Financial Ratios
Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17
Dividend per Share (Rs) 2.4 3 3.2 3.6 5 3.6
ROCE (%) 13.4 14.56 13.34 13.16 12.97 12.91
Net Margin (%) 18.04 18.57 17.38 16.16 17.43 18.36
Net Sales Growth (%) 55.35 42.95 30.41 33.46 35.52 36.8
Net Profit Growth (%) 64.58 45.49 21.6 24.88 42.39 43.65
Book Value Growth (%) 48.17 66.58 19.06 20.27 52.61 31.07
Dividend % 120 150 160 180 250 180
Price / Earnings 8.29 9.67 12.39 22.81 29.02 34.96
Price / Book Value 1.67 1.71 2.23 4.27 5.07 6.69

Summary: Bajaj finance ltd has given a robust fundamental performance consistently and would be a good buy for a long term.

Technical View:

At the time of writing this post, Bajaj Finance was at 1499.40

 

Bajaj Finance’s Support &Resistance level (Spot: 1499.40)
Time Support 2 Support 1 Pivot Resistance 1 Resistance 2
Intraday(5 – 15 minutes chart) 1454.90 1477.15 1499.4 1515.15 1531
daily chart (short term) 1436 1430 1467.7 1539.20 1570
weekly chart (Mid-term) 1370 1407.5 1459.1 1548.80 1600
Moving Average of Bajaj Finance
Moving Average type MA-5 MA-10 MA-15 MA-20 MA-50 MA-100 MA-200 MA-15 > MA-50 (Days since trend) MA-50 > MA-200 (Days since trend)
SMA 1476.33 1421.72 1405.98 1406.4 1355.13 1266.18 1114.2 123 92
EMA 1478.02 1434.65 1420.27 1409.4 1355.32 1273.02 1150.69 118 111
Analysis Both SMA’s & EMA’s Indicate Strong Uptrend in BFL.
Technical Indicators & Oscillators For Bajaj Finance
Moving average Convergence and Divergence (MACD) :
Frequency ( Chart) MACD Signal Line Description
Daily 30.25 20 MACD Above Zero line for 127 days & above signal line for 3 days
Weekly 106.9 98.4 MACD Above Zero line for 24 days & above signal line for 24 days
Monthly 233.95 198.3 MACD Above Zero line for 49 days & above signal line for 44 days
Bollinger Band :
Frequency ( Chart) Upper – middle – lower Band Description
Daily 1476.50 – 1406.40 – 1336 Price above Upper Band For 3 days and Middle Band For 8 days
Weekly 1507.66 – 1282.80 – 1058 Price above Middle Band For 25 days
RSI :
Frequency ( Chart) RSI Description
Daily 72.4 RSI is in overbought territory for 1 day and crossed central line 5 days back
Weekly 80.95 RSI is in overbought territory for 19 days and crossed central line 23 days back
Monthly 78.3 RSI is in overbought territory for 7 days and crossed central line 66 days back
PSAR:
Current Price has Crossed Daily and highest PSAR Point of 1362.95 and implies uptrend

 

 

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Company Summary

Bajaj Electricals Limited is engaged in engineering and projects; power distribution, illumination and consumer durables businesses.

It has a range of domestic and kitchen appliances comprising water heaters, room heaters, coolers, irons, mixers, induction cookers, toasters, kettles, microwave, rice cookers, gas stoves, non-electrical kitchen aids and pressure cookers.

It offers ceiling, table, pedestal, wall, fresh air and industrial fans, and lighting solutions, such as light sources, light emitting diode-based lighting products, domestic luminaires, torches and lanterns.

Key Highlights of Company Business

Segments and Products

The Company's business segments consist of

  1. Lighting;
  2. Consumer Durables;
  3. Engineering & Projects,

The Lighting segment includes lamps, tubes and luminaries.

The Consumer Durables segment includes appliances and fans.

The Engineering & Projects segment includes transmission line towers, telecommunications towers, highmast, poles and special projects.

The Others segment includes diecasting and wind energy.

Financial Performance

Financial Ratios

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