Bajaj Finance (BAJFINANCE) Q4 25/26 earnings summary

Executive summary

• Achieved strong growth across all key metrics in FY26, with AUM crossing ₹5 lakh crore and consolidated PAT rising 15% to ₹19,332 crore; Q4 FY26 PAT up 22% YoY.

• Booked 52.5 million loans and added 17.5 million customers in FY26; customer franchise reached 119.33 million.

• AI-driven transformation accelerated, with significant investments in talent and technology to drive efficiency and customer experience.

• Gold loan portfolio grew 115% YoY, now 3.5% of AUM, with expectations to reach 5% by FY27.

• Board recommended a final dividend of ₹6 per share for FY26, including a special payout from BHFL share sale gain.

Financial highlights

• Q4 FY26 AUM up 22.4% YoY to ₹510,000 crore; net interest income for FY26 rose 21% to ₹44,110 crore.

• Q4 FY26 PAT grew by 26.7% YoY; full-year PAT up 24% and consolidated PAT up 15% to ₹19,332 crore.

• Cost of funds improved to 7.41% in Q4 FY26.

• Deposit book at ₹68,536 crore, contributing 16% to consolidated borrowings.

• Capital adequacy ratio at 21.55% as of March 31, 2026.

Outlook and guidance

• FY27 guidance: AUM growth of 22%-24%, customer additions of 15–17 million, credit cost corridor of 1.45%-1.6%, and ROA/ROE at 4.4%-4.6%/19%-20%.

• Opex to NTI expected to improve by 25–40 bps.

• Guidance assumes easing geopolitical tensions and macro stability.