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Bajaj Finserv Ltd (BAJAJFINSV) — concall transcript | 30 September 2024(2 announcements)

· BSE 🟡 Notable Neutral
By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings
1 concall transcript 🟡 Notable Neutral 📄 PDF
2 concall transcript 🟡 Notable Neutral 📄 PDF
📢 Key Event
Bajaj Finserv reported 30% YoY revenue growth and 8% PAT growth, with surplus funds at INR3,546 crores.
🔄 What Changed
BAGIC gross written premium declined 20% YoY; BALIC new business value grew 3% and market share held at 9%; Bajaj Finance stock broking PAT rose 185% to INR37 crores; capital adequacy improved to 21.69% Tier 1.
🔮 What's Next
Management expects VNB margin improvement due to scale and product mix, targeting peer-group levels within 2 years (FY27); plans to invest INR500-600 crores in health and AMC businesses by March '26; surplus cash (~₹3,500 crores) to be used for dividends, venture investments, and BFL warrant issue.
💡 Investor Takeaway
Shareholders should note margin pressure in health insurance and reliance on surplus cash for dividends and investments, with long-term VNB margin goals but near-term earnings volatility.

Bajaj Finserv reported consolidated revenue growth of 30% YoY and PAT growth of 8% YoY, with surplus funds at INR3,546 crores. Bajaj Allianz General Insurance (BAGIC) saw a 20% decline in gross written premium due to spillover of government health business, though core business grew 11% above market. Bajaj Allianz Life Insurance (BALIC) achieved 3% new business value growth and held 9% private sector market share. Bajaj Finserv Health generated INR233 crores revenue post-Vidal acquisition, but posted a PAT of -INR32 crores. Bajaj Finance's stock broking business surged with 78% revenue growth and 185% PAT increase to INR37 crores. The company emphasized strong capital adequacy at 21.69% Tier 1 and solvency margin of 312%. Management highlighted strategic patience, pricing pressures in motor insurance, and plans to invest INR500-600 crores in health and AMC businesses by March '26.

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About Bajaj Finserv Ltd (BAJAJFINSV)

Financial Services · Finance · Listed on BSE

Market Cap: ₹3,18,509.45 Cr P/E: 31.3 ROE: 26.5% ROCE: 11.4% Div Yield: 0.08%

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🔥 Also filed on 30 September 2024

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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