Bajaj Finserv Ltd. (BAJAJFINSV) Earnings Call Transcripts

Bajaj Finserv Ltd.'s Latest Earnings Call - Q4 FY2026

Bajaj Finserv Ltd. reported its Q4 FY '26 earnings, highlighting a 6% increase in consolidated total income to INR 38,508 crores, impacted by MTM losses due to geopolitical tensions. Excluding these, revenue growth would have been 14%. Consolidated PAT rose 5% to INR 2,539 crores, with an adjusted growth of 24% excluding MTM impacts. Management emphasized the temporary nature of these impacts. The buyback of Allianz's 3% stake in its insurance subsidiaries was completed, making them fully owned by Bajaj, expected to enhance ROE. Guidance was not explicitly changed, but management indicated a focus on sustainable growth across segments.

Reported metrics

Guidance from management

Management did not provide explicit guidance changes but emphasized the temporary nature of MTM impacts and a focus on sustainable growth across segments.

What management said

Yes. So if you look at the TP release is a factor of how the book develops and TP is a long-tail book. So as the claims development happens and compared to reserving, are you developing what are on we see. So -- and if the numbers you mentioned, I don't see that there's a new shift in terms of what things happening. It means that the company has reserved over time. And as the book keeps on developing and claims are g...

Yes. So on the AMC side, what I would say is the breakeven for us would be close to about INR 1 lakh crores with the continued mix on equity versus debt versus passes, At this point, we are actively considering both the PMS as well as the SIF. So within the next 1, 1.5 years, we will be launching these business lines.

What analysts pressed on

Analysts expressed concerns about the persistency in life insurance, competitive intensity in general insurance, and the impact of potential commission structure changes. Questions also arose about the strategic direction of Bajaj Finserv's digital and alternative investment businesses.

Main topics on the call

• Revenue and Profit Impact — The reported revenue growth was 6%, but management highlighted that excluding MTM impacts, the growth would be 14%. Similarly, PAT growth was reported at 5%, but adjusted for MTM, it would be 24%. Management stated, 'the...
• Insurance Subsidiaries Buyback — Bajaj Finserv completed the buyback of Allianz's 3% stake in its insurance subsidiaries, making them fully owned by Bajaj. This is expected to 'strengthen the ROE and ROE of both the insuring subsidiaries going forward.'
• General Insurance Performance — Bajaj General's GWP growth was flat due to strategic reductions in crop and motor exposures. Underwriting losses rose to INR 96 crores due to elevated claims. The combined ratio was 113.6%, but excluding government healt...
• Life Insurance Growth — Bajaj Life's retail weighted received premium grew 9.7%, with a significant increase in retail protection contribution. VNB grew 29%, and NBM expanded to 24.5%. Management noted, 'the benefits of our revamp strategy, Baj...

Read the full Bajaj Finserv Ltd. transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 31 Bajaj Finserv Ltd. earnings call transcripts on record, spanning January 30, 2020 to July 31, 2026. Based on this history, Bajaj Finserv Ltd. reports quarterly. The most recent call on file is dated July 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

BAJAJFINSV

Exchange

NSEI

Country

IN

Sector

Financials

Industry

Financial Services

Calls on record

31

First call

January 30, 2020

Most recent

July 31, 2026

Reporting cadence

quarterly