Bajaj Finserv Limited held a conference call on 30 April 2025 to discuss the financial results for the quarter and year ended 31 March 2025.
Consolidated total income for Q4 FY25 grew 14% to ₹36,596 crore, and consolidated PAT grew 14% to ₹2,417 crore.
Bajaj Allianz General Insurance Company (BAGIC) reported Q4 FY25 GWP de-growth of 13% to ₹4,326 crore, impacted by timing of crop/government health business and change in accounting for long-term products ('1/n' basis). Excluding these, Q4 growth was 8% and FY25 growth was 12%, exceeding industry growth.
BAGIC's PAT de-grew 4% to ₹363 crore in Q4 FY25 (excluding market-to-market changes, PAT grew 21%). Combined ratio was 104.8% (103.1% excluding '1/n' impact). Underwriting loss was a nominal ₹3 crore.
BAGIC maintained a strong solvency of 325% and annualized ROE of 16% for FY25. Management noted retention is lower due to bulky crop/government health and large commercial lines, but EOM is below regulatory allowance.
Bajaj Allianz Life Insurance Company (BALIC) reported Q4 FY25 GWP growth of 13% to ₹9,237 crore, driven by 29% growth in renewal premium. PAT de-grew 61% to ₹41 crore due to lower realised gains and higher tax provisioning.
BALIC's Value of New Business (VNB) grew 14% to ₹549 crore, and New Business Margin (NBM) expanded by almost 4% to 22.1% in Q4 FY25. Retail protection grew 84% in Q4.
BALIC has a strong solvency of 359%. Management discussed the 'BALIC 2.0' strategy focused on sustainable and profitable growth and expects VNB margin trajectory to be steeper than revenue growth.
Bajaj Finance (BFL) reported a strong quarter with new loans booked up 36% to over 1 crore. Customer franchise exceeds 10 crore. AUM grew 26% to ₹4,16,661 crore. NII grew 22% to ₹9,807 crore. PAT grew 17% to ₹4,480 crore.
BFL's asset quality remained strong with GNPA at 96 bps and NNPA at 44 bps as of 31 March 2025. Capital adequacy was 21.93%. Management highlighted recent corporate actions by BFL including share split, bonus shares, and a special interim dividend.
Bajaj Housing Finance (BHFL) reported AUM growth of 26% to ₹1,14,684 crore. NII grew 31% to ₹823 crore. PAT grew 54% to ₹587 crore. Asset quality was healthy with GNPA at 29 bps and NNPA at 11 bps.
Updates on platform companies: Bajaj Finserv Health conducted 28 lakh health transactions in Q4 FY25 and is exploring international opportunities. Bajaj Markets attracted 8.6 lakh consumers and achieved cash profits. Bajaj Finserv AMC crossed ₹20,000 crore AUM.