Q4 2026 Bajaj Finserv Ltd Earnings Call Transcript

Apr 30, 2026 / 11:00AM GMT

Release Date Price: ₹1746.95 (-0.99%)

Transcript

Key Points

Positve

Bajaj Finserv Ltd (BOM:532978) reported a consolidated total income growth of 6% to INR38,508 crores, with an adjusted growth of 14% excluding temporary MTM impacts.
The consolidated profit after tax grew by 5% to INR2,539 crores, with an adjusted growth of 24% excluding MTM losses.
Bajaj Life Insurance reported a 29% growth in VNB and a 2.4% expansion in NBM, indicating strong profitability.
Bajaj Finance achieved a record milestone with an AUM of INR5 lakh crores, reflecting a strong AUM growth of 22%.
Bajaj Finserv Health saw a 41% revenue growth, indicating strong performance in healthcare transactions and network expansion.

Negative

Bajaj General Insurance experienced underwriting losses of INR96 crores due to elevated claims from Government Health business.
The combined ratio for Bajaj General was elevated at 113.6% for the quarter, indicating higher operational costs.
Bajaj Life Insurance's retail weighted received premium growth was in line with industry growth, but persistency dips were noted.
Bajaj markets experienced a decline in operating revenue to INR95 crores, attributed to decreased loans and transacting customers.
The insurance subsidiaries' solvency was impacted by the buyback of Allianz's 3% stake, affecting financial metrics.

Operator

Ladies and gentlemen, good day, and welcome to Bajaj Finserv Limited Q4 FY26 analyst conference call. (Operator Instructions)

Please note that this conference is being recorded. I now hand the conference over to Mr. Raghvesh from JM Financial. Thank you, and over to you, Mr. Raghvesh.

Raghvesh R.

JM Financial Institutional Securities Pvt Ltd - Equity Analyst

Thank you, Angel. Good evening, everyone, and welcome to the Q4 FY26 finance earnings conference call of Bajaj Finserv Limited. First, I would like to thank the management of Bajaj Finserv for giving us the opportunity to host this call. As always, we'll have opening comments from the management team post which we will open the floor for Q&A. From the management side today, we have Mr.

Sreenivasan, President Insurance and Special Projects, Bajaj Finserv Limited; Ramandeep Sahni, CFO of Bajaj Finserv Limited; Mr. Tapan Singhel, MD and CEO, Bajaj General Insurance Limited; Mr. Tarun Chugh, MD and CEO, Bajaj Life Insurance Limited. Mr. Avais Karmali Karmali, CFO, Bajaj General Insurance

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