Financial Services · Financial Conglomerates · NSE · India
₹1655.00-1.37%
Market cap ₹2.65TNext earnings 2026-11-03Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionBajaj Finserv Ltd. (BAJAJFINSV.NS)
Fair value
Not available
ACCE price target
₹1801
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ₹1655 at the close on 23 Oct 2026, 12:00 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
56
out of 100
P/E
26.3x
forward 17.5x
1-year return
-24.0%
Dividend yield
0.08%
Bajaj Finserv Ltd. in four questions
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Overview
ACCE thesis
Bajaj Finserv is an Indian financial conglomerate whose listed holding company sits over Bajaj Finance, the country's largest non-bank lender by consumer and SME loan book, plus Bajaj Allianz life and general insurance joint ventures. Its moat is the distribution: a large retail customer base and point-of-sale financing network that lets the group cross-sell loans, insurance and deposits to the same households. The near-term story is continued unit growth in insurance premiums and lending as India's formal credit penetration keeps rising, with trailing revenue growth at 19.3%. The stock trades at 26.6x trailing and 17.7x forward earnings, so the forward multiple implies earnings growth the market is not yet fully pricing in, and a 40.2% operating margin is worth testing against the credit cycle before anything else.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Heavy leverage on balance sheet
Debt/Equity of 2.56 is high, and free cash flow is not reported, so the company's ability to service that debt from operations cannot be verified from this data.
moderate
Insider selling without buying
Insiders disclosed $1.67M of sales and no buys across the last 10 filings. Insiders hold 63.9% of the company, so the sales are worth noting even if small.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 19.3% year over year in the latest filings, after averaging 29.1% a year over five years.
Latest quarterly earnings per share of 19.49 beat the 17.79 expected, a surprise of +9.6%.
On forward earnings the shares trade at 17.7 times, below the trailing 26.6 times, and analysts' mean target sits 41.0% above the price.
Why it could disappoint
Debt to equity of 2.56 leaves the balance sheet heavily geared, which magnifies trouble if earnings slow.
A net margin of 6.5% after minority interests leaves little cushion from each rupee of revenue.
The ACCE price target of ₹1801.00 sits 8.1% above the current price of ₹1655.00, so the upside case is only modestly supported.
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