Bajaj Holdings & Investment Limited. (BAJAJHLDNG) AI Stock Analysis

• Market Cap: ₹1.06T
• Dividend Yield: 0.82%
• Average Volume (3M): 7.17K
• Price to Earnings (P/E): 15.6
• Beta (1Y): 1.08
• Revenue Growth: -36.61%
• EPS Growth: 15.01%
• Country: IN
• Employees: 19
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 181.16
• Shares Outstanding: 111,293,510
• 10 Day Avg. Volume: 3,540
• 30 Day Avg. Volume: 7,167
• PEG Ratio: -1.98
• Price to Book (P/B): 2.11
• Price to Sales (P/S): 19.28
• P/FCF Ratio: -67.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: ₹9,950.00 ▼(-11.69% Downside)
• Action: Reiterated Date: 11/28/25
• Date: Action: Reiterated 11/28/25

The overall stock score is primarily influenced by mixed financial performance and bearish technical indicators. While the company maintains strong profitability margins and a robust balance sheet, liquidity concerns due to negative cash flow are significant. Technical analysis indicates bearish momentum, suggesting caution. The valuation is reasonable, providing some stability in the investment outlook.

Positive Factors

Very strong balance sheet

Extremely low leverage and an 83.3% equity ratio provide durable financial flexibility. The conservative capital structure reduces refinancing and solvency risk, supports steady dividend policy or opportunistic investments, and cushions the company against market shocks over months.

High and sustainable profitability margins

Very high margins reflect that the holding model yields outsized accounting profitability from investment income. These margins imply low operating expense burden and the ability to absorb revenue swings, supporting long-term earnings resilience if underlying holdings remain profitable.

Stable holding-company business model

A focused investment-holding model centered on strategic Bajaj Group stakes yields recurring dividend and capital-appreciation potential. Low operating complexity and proven capital-allocation expertise make returns less dependent on commodity cycles and more on long-term group value creation.

Negative Factors

Significant revenue decline

A sharp and persistent drop in reported revenue signals volatile or reduced dividend/realization activity from investees. This undermines predictability of distributable cash and could compress reported income and retained resources needed for long-term investments or shareholder returns.

Negative operating and free cash flow

Deteriorating cash conversion indicates earnings are not converting to spendable cash, limiting capacity to fund dividends, new investments or buybacks without selling assets or tapping markets. That raises structural liquidity risk over the coming quarters.

Concentration and investee-dependence risk

Heavy reliance on a concentrated group of investees and their dividend policies creates structural exposure to those companies' operating cycles and regulatory/market changes. Limited control over investee payouts constrains the holding company's predictable cash generation.

Bajaj Holdings & Investment Limited. Business Overview & Revenue Model

Company Description

Bajaj Holdings & Investment Limited operates as a non-banking financial institution-investment and credit company in India. It invests in listed and unlisted equities. The company was incorporated in 1945 and is based in Pune, India.

How the Company Makes Money

Bajaj Holdings & Investment Limited makes money mainly from returns on its investment portfolio rather than from selling operating products or services. Key earnings streams typically include: (1) Dividend income from equity holdings, especially from strategic stakes in Bajaj Group companies and other investee companies; (2) Interest income from debt instruments, cash equivalents, or other interest-bearing investments held on its balance sheet; (3) Gains (realized and unrealized, depending on accounting treatment) from changes in the value of its equity and other investments, including profits on sale of investments when the company rebalances or exits positions; and (4) Other investment-related income such as distributions from investment vehicles or funds, where applicable. The company’s profitability and cash flows are therefore driven by the performance and dividend policies of its investee companies, overall equity and debt market conditions, interest-rate movements, and management’s capital-allocation decisions (e.g., holding periods, buy/sell timing, and portfolio concentration in key group holdings). Specific material partnerships beyond being a holding entity for Bajaj Group investments are not available in the prompt; null.

Bajaj Holdings & Investment Limited. Financial Statement Overview

Summary

Bajaj Holdings & Investment Limited shows strong profitability margins despite a significant revenue decline. The balance sheet is robust with low leverage and high equity, indicating financial stability. However, negative operating and free cash flow raise concerns about liquidity and cash generation capabilities.

Income Statement

Bajaj Holdings & Investment Limited's income statement shows a significant decline in revenue over the past year, with a 51.5% decrease from the previous period. However, the company has managed to maintain a strong gross profit margin of 95.6% for the latest fiscal year, indicating efficient cost management. Despite the revenue drop, the net profit margin remains robust at 784.2%, primarily due to a high net income figure relative to the significantly reduced revenue. EBIT and EBITDA margins are also strong, at 74.3% and 78.3% respectively, highlighting consistent operating efficiency. The key concern remains the sharp decline in revenue, which poses a risk to future profitability if not addressed.

Balance Sheet

The company's balance sheet is quite strong, with a debt-to-equity ratio of 0.05, indicating low leverage and conservative financial management. The equity ratio stands at 83.3%, reflecting a solid capital structure with significant equity backing. Return on equity is impressive at 10.4%, showcasing effective use of shareholder capital. Overall, the balance sheet reflects financial stability and low risk, with substantial assets and minimal liabilities, providing a strong foundation for future growth.

Cash Flow

Cash flow analysis reveals some challenges, as operating cash flow has turned negative, resulting in a negative free cash flow for the latest period. The free cash flow growth rate has significantly declined, raising concerns about cash generation capabilities. The operating cash flow to net income ratio has deteriorated, indicating potential issues in converting income to cash. While past periods showed positive free cash flow, the current trajectory suggests a need for strategic adjustments to improve cash flow management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	93.55B	68.77B	76.67B	51.90B	43.76B	39.05B
Gross Profit	93.53B	68.75B	76.65B	51.83B	43.73B	39.02B
EBITDA	92.83B	67.82B	75.26B	50.45B	42.60B	37.99B
Net Income	85.19B	65.21B	72.67B	48.51B	40.56B	36.50B
Balance Sheet
Total Assets	825.14B	752.66B	651.61B	531.88B	535.88B	454.90B
Cash, Cash Equivalents and Short-Term Investments	128.10M	998.90M	397.80M	258.30M	219.30M	832.60M
Total Debt	146.00M	309.90M	625.70M	927.90M	1.14B	1.36B
Total Liabilities	38.41B	25.97B	21.90B	16.25B	20.07B	13.72B
Stockholders Equity	678.35B	626.88B	542.48B	441.83B	428.42B	371.67B
Cash Flow
Free Cash Flow	-36.62B	-19.56B	19.41B	17.26B	16.08B	2.71B
Operating Cash Flow	-36.62B	-19.55B	19.41B	17.28B	16.10B	2.72B
Investing Cash Flow	47.36B	30.54B	-4.72B	-1.37B	-1.51B	-3.08B
Financing Cash Flow	-11.44B	-10.55B	-14.55B	-15.87B	-14.60B	-366.40M

Bajaj Holdings & Investment Limited. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11267.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJAJHLDNG, the sentiment is Negative. The current price of 11267.3 is above the 20-day moving average (MA) of 10391.09, above the 50-day MA of 10693.73, and below the 200-day MA of 12267.13, indicating a bearish trend. The MACD of -371.14 indicates Positive momentum. The RSI at 28.95 is Positive, neither overbought nor oversold. The STOCH value of 25.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BAJAJHLDNG.

Bajaj Holdings & Investment Limited. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PILANIINVS	63 Neutral	₹52.59B	-100.46	―	0.29%	-8.75%	-85.31%
SILINV	63 Neutral	₹4.26B	7.07	―	0.49%	―	―
BFINVEST	62 Neutral	₹13.97B	4.34	―	―	―	―
BAJAJHLDNG	59 Neutral	₹1.06T	15.63	―	0.82%	-36.61%	15.01%
KICL	57 Neutral	₹19.49B	316.94	―	―	―	―
NSIL	54 Neutral	₹27.54B	111.73	―	―	―	―

Bajaj Holdings & Investment Limited. Corporate Events

Bajaj Holdings Increases Stake as Allianz Exits Bajaj Insurance JVs

Bajaj Holdings & Investment Limited has disclosed that Allianz SE has fully exited its joint insurance ventures with the Bajaj Group by tendering its remaining 3% stakes in Bajaj General Insurance Limited and Bajaj Life Insurance Limited through recently conducted buyback offers. As a result of Allianz’s exit, Bajaj Holdings’ equity stake in each of these insurance companies has increased from 17.56% to 18.10%, marginally strengthening its economic interest and influence in two key insurance subsidiaries within the group structure.

This transaction marks the completion of Allianz’s phased withdrawal from the partnerships and consolidates Bajaj’s control over its insurance operations, potentially allowing for more streamlined strategic decision-making across its general and life insurance businesses. For stakeholders, the development underscores a clearer ownership structure in Bajaj Finserv’s insurance arms and may signal a more unified approach to growth and capital allocation in the group’s financial services portfolio.

Bajaj Holdings & Investment CIO Purav Jhaveri Resigns Effective January 2026

Bajaj Holdings & Investment Limited has announced that Chief Investment Officer Purav Jhaveri has resigned from his position, effective at the close of business on 31 January 2026, and will consequently cease to be part of the company’s senior management. The departure, which Jhaveri attributes to pursuing an external career opportunity, marks a notable change in the firm’s top investment leadership and may prompt investors and other stakeholders to watch closely for subsequent management appointments and any potential shifts in the company’s investment oversight and strategic direction.