Update shared on 31 Mar 2026
Analysts have maintained their price target for Bajaj Finserv at ₹2,710, keeping fair value unchanged while refining assumptions around the discount rate, revenue growth, profit margin, and future P/E in their updated view.
What's in the News
- Kinetic Watts & Volts has launched a retail finance ecosystem for its DX+ and DX electric scooters that includes Bajaj Finserv as one of the finance partners, alongside Hero FinCorp and CleverPe, to offer EMI-based and digital finance options at Kinetic EV dealerships across India (Key Developments).
- The partnership is designed to give EV buyers access to tailored finance options at showrooms, with a focus on lowering upfront cost barriers and simplifying documentation for customers (Key Developments).
- Bajaj Finserv is part of a multi partner finance setup that combines established lenders and a fintech platform to support retail finance for Kinetic's expanding EV dealer network and customer base (Key Developments).
- The Bajaj Finserv board is scheduled to meet on Feb 4, 2026, at 11:30 Indian Standard Time to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).
- The same board meeting agenda includes approving an issue of equity shares to the Bajaj Finserv ESOP Trust (Key Developments).
Valuation Changes
- Fair Value: Kept unchanged at ₹2,710, indicating no revision to the overall valuation outcome despite updated model inputs.
- Discount Rate: Risen slightly from 12.93% to 13.05%, reflecting a modestly higher required rate of return in the updated assumptions.
- Revenue Growth: Risen slightly from 18.15% to 18.78%, pointing to a marginally higher growth assumption for future ₹ revenue.
- Net Profit Margin: Risen slightly from 9.77% to 9.84%, signalling a small upward adjustment in expected profitability on ₹ earnings.
- Future P/E: Fallen slightly from 26.05x to 25.52x, suggesting a modestly lower valuation multiple applied to future earnings while keeping fair value steady.
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