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BAJAJFINSV Diversified 24 Oct 2024

Bajaj Finserv — Q2 FY25

Bajaj Finserv reported consolidated revenue growth of 30% YoY to ₹33,703 crore, with PAT up 8% YoY.

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Revenue ₹33,703 Cr +30%
EBITDA
PAT ₹4,180 Cr +8%
EBITDA Margin
Duration
Read Time 1 min read

✓ Verified against BSE filing

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Allianz exit from JV creates strategic uncertainty

Allianz has informed Bajaj of its decision to exit the joint venture; management provided no further details, creating uncertainty around future ownership and operations.

high · management_commentary
R

VNB margin compression from ULIP mix and regulatory changes

VNB margins fell 3.8pp YoY to 9.2% due to higher ULIP sales; new surrender value norms may further pressure margins.

medium · analyst_question
R

Motor TP price hike delay hurting growth

No TP price hike for three years has led to underwriting losses; management has reduced exposure, capping motor growth.

medium · analyst_question
R

Retail health profitability under pressure

Medical inflation and hospital fraud are squeezing margins; management is cautious on growth in this segment.

medium · management_commentary