Quarter Ended: March 2026
Bajaj Finance Limited – Q4 FY26 Results
NSE
bajfinance
BSE
500034
Bajaj Finance continues to deliver consistent growth in revenue and profitability, supported by strong lending momentum, though asset quality costs and balance sheet expansion remain key monitorables.
key financial highlights
- Revenue from Operations:
- Revenue (Q4 FY26): ₹21,605.79 Cr
- QoQ Change: +2.8%
- YoY Change: +18.1%
- Previous Quarter (Q3 FY26): ₹21,013.49 Cr
- Previous Year (Q4 FY25): ₹18,294.45 Cr
- Revenue (Q4 FY26): ₹21,605.79 Cr
- Profit After Tax (PAT):
- PAT (Q4 FY26): ₹5,553.30 Cr
- QoQ Change: +36.6%
- YoY Change: +22.2%
- Previous Quarter (Q3 FY26): ₹4,066.01 Cr
- Previous Year (Q4 FY25): ₹4,545.57 Cr
- PAT (Q4 FY26): ₹5,553.30 Cr
- QoQ Performance
- Revenue Trend: Stable growth
- Profit Trend: Strong improvement
Margin Analysis
Key Drivers:
- Strong interest income growth (₹19,178 Cr)
- Controlled operating expenses
- Lower impairment vs previous quarter
- Stable cost of funds despite high borrowing
Key Signal: Margins remain resilient, indicating strong underwriting and pricing power
Segment insight
Summary:
- Business continues to be driven by retail lending franchise, with diversified loan book across consumer finance segments
Characteristics:
- High AUM growth model
- Interest income dominant
- Credit cost sensitive business
Earning quality check
Drivers:
- Core interest income driven profitability
- Limited reliance on fair value gains
- Impairment cost (₹2,007 Cr) remains key
Interpretation:
- Earnings quality is high, largely driven by core lending operations, though credit cost remains a structural factor
balance sheet Analysis
- Total Assets: ₹5,59,952 Cr
- Total Liabilities: ₹4,42,966 Cr (financial liabilities approx)
Insight:
- Strong balance sheet expansion (~20% YoY)
- Borrowings increased significantly → supports loan growth
- Equity base strengthened to ₹1.16 lakh Cr
key risks
- Rising credit costs / impairments
- High dependence on borrowing markets
- Interest rate sensitivity
- Rapid balance sheet expansion risk
management strategy signals
Focus Area:
- Loan book expansion
- Digital lending growth
- Risk management and credit control
- Liability diversification
Financial Metrics
| Particular | Q4 FY26 | Q.O.Q | Y.O.Y |
|---|---|---|---|
| Total Income | ₹21,606.50 Crore | +2.8% | +18.0% |
| PBT | ₹7,409.84 Crore | +36.4% | +31.2% |
| PAT | ₹5,553.30 Crore | +36.6% | +22.2% |
Bajaj Finance continues to demonstrate consistent compounding with strong execution, supported by its dominant NBFC franchise. While growth remains intact, investors should closely track credit costs and leverage expansion. Overall, the business reflects high-quality earnings with scalable growth visibility.
Official Exchange Filing: Bajaj Finance Limited
Quarterly Performance Context
FISCAL YEAR
2025-2026
AUDIT STATUS
REVIEWED