Bajaj Finance AUM Up by a Massive 15 Times in the Last Decade; Stock Up 200 Times Since 2010

Bajaj Finance released its Q2FY23 provisional numbers on AUM and customer franchise growth. On both these fronts, the company continues to outstrip its guidance and demonstrate strong growth. Bajaj Finance is the most expensive NBFC in the country, trading at a price to book of 10 times. Despite this, investors seem quite content with holding the consumer lender. The reason being it continues to grow comfortably at very high rates on the higher base that it continues to clock. Profitability has grown at 51% for the last 15 years and the company continues to project growth at 25% going forward as well. Hersh Sayta breaks down the current numbers and the guidance that the company has given along with how valuations will trend.