Bajaj Holdings & Investment (500490) Q4 22/23 earnings summary

Executive summary

• FY2023 consolidated profit reached a record ₹4,850.52 crore, up from ₹4,055.68 crore, driven by strong group-company performance, particularly Bajaj Finance and Bajaj Auto.

• Standalone profit rose to ₹1,711.58 crore from ₹1,630.52 crore; portfolio market value was ₹132,034 crore versus ₹156,649 crore a year earlier.

• The investment portfolio remains focused on long-term strategic holdings and balancing return with capital safety; the standalone business is classified as NBFC Base Layer.

Financial highlights

• Standalone total income was ₹1,937.01 crore versus ₹1,833.16 crore; PBT ₹1,778.85 crore versus ₹1,701.12 crore; profit ₹1,711.58 crore versus ₹1,630.52 crore.

• Standalone dividend income was ₹1,569.02 crore versus ₹1,468.50 crore; interest income ₹254.77 crore versus ₹236.35 crore; net gain on sale of debt securities ₹30.08 crore versus ₹51.58 crore.

• Consolidated total income was ₹527.35 crore versus ₹486.51 crore; share of associate profits ₹4,667.01 crore versus ₹3,893.67 crore; PBT ₹5,011.51 crore versus ₹4,225.90 crore.

• Consolidated profit was ₹4,850.52 crore versus ₹4,055.68 crore; reported EPS was ₹435.8 versus ₹364.4. Standalone EPS was ₹153.8 versus ₹146.5.

• Standalone comprehensive income was ₹1,779.87 crore versus ₹2,817.90 crore, reflecting much lower equity fair-value gains in OCI: ₹135.89 crore versus ₹1,412.18 crore.

Outlook and guidance

• The portfolio strategy is to gradually grow investments with a long-term orientation, while balancing risk and return and prioritising safety of capital and liquidity.

• Management expected Indian GDP growth above 6% in FY2024; the outlook cited monsoon uncertainty and continuing global financial-sector jitters as potential headwinds.

• Planned FY2024 Board reviews include investment strategy and operating plans in March and September, alongside scheduled quarterly financial-result reviews.