BAJAJHLDNGBajaj Holdings & Investment Ltd.
Bajaj Holdings & Investment Q2 FY27 Results: Consolidated Net Profit ₹2,137 Crore on Total Income of ₹184 Crore
- Earnings
- investment holding company
Reviewed byRachit TripathiBlacklitt Research
Bajaj Holdings & Investment (NSE: BAJAJHLDNG) reported consolidated total income of ₹183.65 crore and consolidated net profit of ₹2,137.07 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,712.65 crore and standalone net profit of ₹1,404.03 crore, it said in a filing on 03 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹183.65 crore, down 55.2% YoY and 56.2% QoQ
- Net profit: ₹2,137.07 crore, up 26.5% YoY and down 21.1% QoQ
- EPS: ₹179.11 basic, up 27.9% YoY from ₹140.08
- Profit attributable to owners: ₹1,993.37 crore, against ₹1,559.02 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,712.65 crore, down 31.9% YoY and up 316.4% QoQ
- Net profit: ₹1,404.03 crore, down 35.6% YoY and up 308.0% QoQ
- EPS: ₹126.15 basic, down 35.6% YoY from ₹195.95
- Dividend income: ₹1,665.80 crore, against ₹2,204.95 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 183.65 | 409.79 | -55.2% | 419.32 | -56.2% | |
| Revenue from operations | 181.73 | 396.87 | -54.2% | 394.33 | -53.9% |
| Other income | 1.92 | 12.92 | -85.1% | 24.99 | -92.3% |
| 2,137.07 | 1,689.88 | +26.5% | 2,708.08 | -21.1% | |
| Profit before tax | 2,411.54 | 1,975.66 | +22.1% | 2,714.46 | -11.2% |
| Depreciation | 0.97 | 7.96 | -87.8% | 10.59 | -90.8% |
| Tax expense | 274.47 | 285.78 | -4.0% | 6.38 | n/a |
| Net profit margin | 1163.66% | 412.38% | +751.29 pp | 645.83% | +517.84 pp |
| EPS, basic (₹) | 179.11 | 140.08 | +27.9% | 243.18 | -26.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose 26.5% YoY while total income fell 55.2%. Revenue from operations of ₹181.73 crore is 99.0% of total income of ₹183.65 crore, and other income of ₹1.92 crore is 1.0% of it.
The current quarter's tax expense of ₹274.47 crore is 11.4% of profit before tax of ₹2,411.54 crore. Consolidated net profit against profit before tax is therefore the lower of the two lines in the table.
The notes say that Bajaj Auto Limited acquired controlling interest in Bajaj Auto International Holdings AG on 18 Nov 2025, and that the figures for the quarter and half year ended 30 Sep 2026 are not comparable with the corresponding year-ago figures. The consolidated quarter-end balance sheet carries investment in associates of ₹45,937.25 crore against ₹41,796.78 crore a year earlier.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,712.65 | 2,514.07 | -31.9% | 411.28 | +316.4% | |
| Revenue from operations | 1,710.74 | 2,501.15 | -31.6% | 386.29 | +342.9% |
| Other income | 1.91 | 12.92 | -85.2% | 24.99 | -92.4% |
| 1,404.03 | 2,180.76 | -35.6% | 344.09 | +308.0% | |
| Profit before tax | 1,675.20 | 2,463.69 | -32.0% | 348.65 | +380.5% |
| Depreciation | 0.97 | 7.96 | -87.8% | 10.59 | -90.8% |
| Tax expense | 271.17 | 282.93 | -4.2% | 4.56 | n/a |
| Net profit margin | 81.98% | 86.74% | -4.76 pp | 83.66% | -1.68 pp |
| EPS, basic (₹) | 126.15 | 195.95 | -35.6% | 30.92 | +308.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 35.6% YoY, more than profit before tax (down 32.0%). Dividend income of ₹1,665.80 crore is the bulk of total income of ₹1,712.65 crore, against ₹2,204.95 crore of dividend income in the year-ago quarter. The press release says the lower dividend income is mainly from Bajaj Auto, post its buyback.
Tax expense of ₹271.17 crore is 16.2% of profit before tax of ₹1,675.20 crore, against ₹282.93 crore a year earlier. Other income of ₹1.91 crore is 0.1% of total income this quarter.
Against that base the current quarter's profit is lower; the statement does not present a separate exceptional item for the current quarter.
Inference
The notes say the company re-assessed its tax provision for the year ended 31 Mar 2026 and provided ₹8.74 crore in the half year ended 30 Sep 2026 under section 80M of the Income Tax Act 1961. The company has applied to be recategorised as an Unregistered Core Investment Company, and the application is under review by the Reserve Bank of India; the filing does not say when a decision is expected.
The company says its income will in future come predominantly from dividends and interest on its investments in the Bajaj Group. The interim dividend of ₹65 per share, amounting to ₹723 crore, was declared on 15 Sep 2026 and paid on 13 Oct 2026. The filing does not say how the company plans to meet later dividends, and the reason for the rise in standalone dividend income from ₹348.41 crore in the previous quarter is not stated.
Filed with BSE on . Reference: Original filing (PDF)
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