Bajaj Finserv Ltd

Bajaj Finserv will hold a meeting of the Board of Directors of the Company on 29 April 2025.Powered by Capital Market - Live

The acquisition, subject to regulatory approvals from the Competition Commission of India and the Insurance Regulatory and Development Authority of India, will increase Bajaj Group's ownership in both companies from 74% to 100%. The 24-year joint venture agreements between the Bajaj Group and Allianz SE will terminate upon completion of the first acquisition tranche (at least 6.1%) and Allianz's reclassification from promoter to investor. The agreed consideration for the 26% stake is Rs 13,780 crore for BAGIC and Rs 10,400 crore for BALIC. The acquisition will be divided between Bajaj Finserv (approximately 1.01%), Bajaj Holdings and Investment (approximately 19.95%), and Jamnalal Sons (approximately 5.04%). Post-acquisition, Bajaj Finserv's stake will be 75.01% in both companies. Upon termination of the joint ventures, both the Bajaj Group and Allianz plan to independently pursue their insurance strategies in India. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said, Together with Allianz, we have built two of the strongest insurance companies in India with a combined premium exceeding Rs 40,000 crore, while maintaining industry-best solvency margins. We remain committed to creating better access to insurance in India, greater financial resilience, and superior experience for our customers. Given the advantage of a single ownership in both companies, we are confident that the acquisition will become a big driver of value for our stakeholders in the years to come. Bajaj Finserv, a leading Indian financial services promoter and an unregistered Core Investment Company, boasts a diverse portfolio encompassing savings solutions, loans, insurance, and investments, serving over 230 million customers through digital platforms and extensive physical locations. Its consolidated net profit increased 3.4% to Rs 2,231 crore on 10.34% rise in total income to Rs 32,041.81 crore in Q3 FY25 over Q3 FY24. Shares of Bajaj Finserv were down 1.72% at Rs 1839.65. Powered by Capital Market - Live

The Board of Bajaj Finserv at its meeting held on 21 February 2025 has appointment of Sanjiv Nandan Sahai (DIN: 00860449) as an Independent Director of the Company for a period of five consecutive years, effective from 1 March 2025, subject to the approval of the members. Powered by Capital Market - Live

Profit before tax in the third quarter of FY25 stood at Rs 5,811.51 crore, up by 7.01% from Rs 5,430.95 crore posted in same quarter last year. Total expenses spiked 11.12% year on year (YoY) to Rs 26,233.40 crore in the quarter ended 31 December 2024. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 51.34% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. Bajaj Finance (BFL) recorded 16.68% increase in consolidated net profit to Rs 4,246 crore in Q3 FY25 as against Rs 3,639 crore in Q3 FY24. Loan loss provisions stood to Rs 2,043 crore in the third quarter of FY25, up 63.7% YoY. Net total income for the December 2024 quarter rose 25.54% to Rs 11,673 crore from Rs 9,298 crore posted in corresponding quarter previous quarter. Gross NPA and Net NPA as on 31 December 2024 stood at 1.12% and 0.48% respectively as against 0.95% and 0.37% as on 31 December 2023. Provisioning coverage ratio on stage 3 assets is 57%. Assets under Management (AUM) grew 28% to Rs 3,98,043 crore as on 31 December 2024 as against Rs 3,10,968 crore as on 31 December 2023. Capital adequacy ratio (CRAR) (including Tier-II capital) as on 31 December 2024 stood at 21.56%. The Tier-I capital was at 20.79%. Bajaj Allianz General Insurance Company (BAGIC) stated that effective from 1 October 2024, as mandated by IRDAI, gross premium on long-term products are measured on 1/n basis (where 'n' is contract duration) prospectively, hence Q3 & 9M FY2025 are not comparable with prior years. BAGIC's gross written premium for Q3 FY25 increased by 46% to Rs 6,626 crore from Rs 4,536 crore in Q3 FY24. Excluding tender-driven crop and government health insurance premium, BAGIC's gross written premium shed by 2% YoY to Rs 3,639 crore in Q3 FY25. Claim ratio increased to 77.7% in Q3 FY25 as against 72.9% in Q3 FY24, due to elevated claims in health segment. Excluding tender driven crop and government health business, claim ratio reduced to 73.9% in Q3 FY25 as against 71.1% in Q3 FY24. Profit after tax for third quarter of FY25 stood at Rs 400 crore, up 39% as compared with Rs 287 crore in Q3 FY24. As on 31 December 2024, solvency ratio was 300%, which is well above the minimum regulatory requirement of 150%. Assets under Management (AUM), represented by cash and investments as on 31 December 2024 stood at Rs 32,633 crore as compared to Rs 30,296 crore as on 31 December 2023, an increase of 8%. Bajaj Allianz Life Insurance Company's (BALIC) new business premium for Q3 FY25 stood at Rs 2,761 crore as against Rs 2,561 crore in Q3 FY24, an increased of 8%. Renewal premium for Q3 FY25 was Rs 3,600 crore, an increase of 24% on YoY basis. Shareholders' profit after tax during Q3 FY25 increased 106% to Rs 222 crore from Rs 103 crore in Q3 FY24, due to higher investment income and reversal of income tax provisions in respect of earlier years basis favorable income tax orders. Gross written premium for Q3 FY25 rose by 16% to Rs 6,361 crore from Rs 5,464 crore in Q3 FY24. Net new business value (NBV), which is the metric used to measure profitability of life insurance businesses, up by 1.2% to Rs 254 crore in Q3 FY25. The solvency ratio stood at a healthy 369% as on 31 December 2024 as against the minimum regulatory requirement of 150%. Assets under Management (AUM), represented by total investments increased 17% Rs 122,023 crore as on 31 December 2024. The scrip rose 1.82% to close at Rs 7,899.30 on the BSE.Powered by Capital Market - Live

Bajaj Finserv has appointed Ramandeep Singh Sahni, as the Chief Financial Officer and Whole Time Key Managerial Personnel of the Company with effect from 1 February 2025, in place of Shri S Sreenivasan, who would be stepping down from the position of Chief Financial Officer of the Company(effective 31 January 2025 close of business hours) but will continue in a leadership and supervisory role as President (Insurance and Special Projects). Powered by Capital Market - Live

Net profit of Bajaj Finserv rose 3.40% to Rs 2231.00 crore in the quarter ended December 2024 as against Rs 2157.67 crore during the previous quarter ended December 2023. Sales rose 9.25% to Rs 31306.53 crore in the quarter ended December 2024 as against Rs 28655.48 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales31306.5328655.48 9 OPM %39.5236.43 - PBDT6100.015663.04 8 PBT5811.515430.95 7 NP2231.002157.67 3 Powered by Capital Market - Live

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 1,054.82 crore for the month of December 2024, up 9.70% as against Rs 961.51 crore recorded in the same period a year ago. Individual non-single premium were at Rs 648.28 crore (up 2.17% YoY) in December 2024. Individual single premium amounted to Rs 39.21 crore (down 18.90% YoY) and Group yearly renewable premium added up to Rs 55.36 crore (down 29.03% YoY) in the month of December 2024. However, Group single premium jumped 55.69% YoY to Rs 311.97 crore during the period under review. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. The company's consolidated net profit increased 8.9% to Rs 2,086.97 crore on 29.52% jump in total income to Rs 33,703.74 crore in Q2 FY25 over Q2 FY24. The scrip shed 0.49% to Rs 1,676.15 on the BSE Powered by Capital Market - Live

Bajaj Finserv will hold a meeting of the Board of Directors of the Company on 30 January 2025.Powered by Capital Market - Live

Bajaj Finserv Ltd is down for a fifth straight session today. The stock is quoting at Rs 1585, down 0.29% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.93% on the day, quoting at 23729.80078125. The Sensex is at 78412.16, down 1.02%.Bajaj Finserv Ltd has added around 1% in last one month.Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has increased around 2.02% in last one month and is currently quoting at 23906.6, down 0.68% on the day. The volume in the stock stood at 8.97 lakh shares today, compared to the daily average of 16.05 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 1584.55, down 0.62% on the day. Bajaj Finserv Ltd tumbled 4.91% in last one year as compared to a 11.64% rally in NIFTY and a 11.33% spurt in the Nifty Financial Services index.The PE of the stock is 163.43 based on TTM earnings ending September 24.Powered by Capital Market - Live

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 659.35 crore for the month of November 2024, down 10.69% as against Rs 738.29 crore recorded in the same period a year ago. Individual non-single premium were at Rs 407.95 crore (down 12.78% YoY) in November 2024. Individual single premium amounted to Rs 17.95 crore (down 17.95% YoY) and Group yearly renewable premium added up to Rs 25.77 crore (down 46.55% YoY) in the month of November 2024. However, Group single premium rose 5.58% YoY to Rs 193.90 crore during the period under review. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. The company's consolidated net profit increased 8.9% to Rs 2,086.97 crore on 29.52% jump in total income to Rs 33,703.74 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live