Please refer to important disclosures at the end of this report
1
Bajaj Finance Limited (BAF) is an India-based non-banking finance compan
y
engaged in lending (primarily consumer) and allied activities. BAF is the largest
consumer durables and lifestyle financier in the country and has been
continuously increasing market share in these businesses. The Bajaj Fin focused
strategy toward consumer lending have created strong distribution tie up with big
retail franchise and addition in market share. BAF moat is quick turnaround time
unmatched by the most retail lender. Therefore, only credit card player are direct
competition in retail lending. AUM grew by 40% (YoY) in Q1FY17 and despite
high loan book growth BAF maintained asset quality, Net NPA as on 30 June
2016 stood at 0.41%. BAF grew its PAT 39% CAGR over last five year and
consistently reported 20%+ ROE over last five year. Hence Buy
BUY
CMP `11,136
Stock Info
Sector
Beta 0.8
Bloomberg Code BAF IN
Shareholding Pattern (%)
Promoters 57.4
MF / Banks / Indian Fls 5.5
FII / NRIs / OCBs 19.7
Indian Public / Others 17.5
Abs. (%) 3m 1yr 3yr
Sensex 6.3 8.1 53.2
Bajaj Finance 40.1 121.5 1,000.1
Nifty 8,810
Reuters Code BJFN.BO
Face Value (
`
)10
BSE Sensex 28,532
52 Week High / Low 11,760/4678
Avg. Daily Volume 9,059
Finance
Market Cap (
`
cr) 59,994
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Bajaj Finance
Others | Finance
September 6, 2016
Bajaj Finance | Finance
September 6, 2016
2
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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