Bajaj shifts gears as profits zoom past Rs 5,000 crore in turbocharged H1

MUMBAI: If the first half of FY26 were a dashboard, Bajaj Holdings & Investment ltd. would be watching every needle slide confidently into the green. In a half-year that blended divestment gains, strong subsidiary performance and regulatory tailwinds, BHIL has reported a consolidated profit of Rs 5,046 crore, racing well ahead of the Rs 3,047 crore clocked in H1 FY25.

The group is calling it momentum; the numbers read more like acceleration.

Kicking off the period was a hefty interim dividend Rs 65 per share (650 per cent), totalling Rs 723 crore, paid on 14 October 2025. But the real torque came from a strategic move: the sale of 1.04 crore shares of Bajaj Finserv (BFS) via a block deal, executed to help fund its upcoming insurance stake acquisition. The transaction added significantly to BHIL’s standalone and consolidated profit, even as BFS remained an associate.

Bajaj Holdings & Investment ltd chairman Shekhar Bajaj credited the broader economic climate as well, “The recent GST reforms should provide tailwinds for our automobile and financial service businesses in the coming quarters.” With macro winds blowing favourably, the group’s performance across verticals suggests the engines were already revving.

If BAL were a speedometer, it would be nudging red. In H1 FY26, the standalone numbers show:

●  Volumes: 24,05,357 units

●  Turnover: Rs 28,306 crore (up 10 per cent)

●  EBITDA: Rs 5,534 crore (up 9 per cent)

●  PAT: Rs 4,576 crore (up 15 per cent)

Premium motorcycles and double-digit commercial vehicle growth powered a record domestic revenue, while exports surged with standout regional performance.

The Chetak EV, despite supply headwinds, continued to strengthen its position in India’s electric scooter race. Commercial vehicles hit their own milestone, driven by robust internal combustion and electric portfolios. BAL ended the period sitting on Rs 14,244 crore in surplus funds, a war chest worthy of a manufacturer firing on all cylinders.

On a consolidated basis, BFS posted:

●  Total income: Rs 72,854 crore (up 12 per cent)

●  PAT: Rs 5,033 crore (up 19 per cent)

At Bajaj Finance, the appetite for credit was unmistakable: 25.7 million new loans were booked in H1 FY26, a 24 per cent jump. Income grew 20 per cent to Rs 39,709 crore, while PAT rose 21 per cent to Rs 9,575 crore.

Across insurance:

Bajaj General Insurance grew gross written premium by 9 per cent to Rs 11,615 crore, but excluding crop and government health premiums, underlying growth hit 16 per cent. PAT climbed to Rs 1,177 crore.

●  Bajaj Life Insurance grew GWP by 20 per cent to Rs 13,844 crore, with new business premium up 10 per cent to Rs 6,328 crore and PAT at Rs184 crore.

●  Bajaj Finserv AMC closed the half with Rs 28,814 crore in AUM.

●  BHIL’s standalone engine dividends, interest income and investment gains delivered:

Dividend income: up to Rs 2,205 crore (from Rs 1,025 crore)

●  Profit on debt securities: Rs 258 crore

●  Total income: Rs 2,822 crore (vs Rs 1,282 crore in H1 FY25)

●  Standalone PAT: Rs 4,217 crore

●  Total comprehensive income: Rs 4,416 crore

The company continues to realign its portfolio to comply with RBI’s Core Investment Company (CIC) guidelines.

The investment book remains formidable, with the 30 Sept 2025 market value at Rs 2,36,429 crore, compared to Rs 2,23,734 crore in March.

Perhaps the most transformative update: all approvals have now been received for the acquisition of Allianz SE’s 26 per cent stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.
BHIL has been authorised to purchase up to 19.95 per cent of this stake in each company.

Talks are now moving from negotiation rooms to final documentation, with the acquisition expected to conclude “in the next few months.”

From double-digit growth across verticals to strategic investment realignment and a long-awaited insurance consolidation move, BHIL’s H1 FY26 showcases a portfolio firing on every piston. With GST reforms poised to add tailwinds and capital positions strong across companies, the Bajaj empire enters the second half not just well-fuelled but firmly in the fast lane.

In a year of shifting economic gears, BHIL’s performance proves one thing: some engines don’t just run, they roar.