BAJAJHLDNG

ajaj Holdings & Investment Ltd. (BAJAJHLDNG) is a very different stock from Bajaj Finance/Bajaj Finserv. It is essentially a holding and investment company, with its value largely coming from its investments in Bajaj Group companies. The FY26 annual report describes BHIL as an NBFC-ICC whose primary revenue comes from dividends from investments. 1. Company Business The key attraction is its ownership in major Bajaj Group businesses. Most importantly, as of March 2026, BHIL held 34.19% of Bajaj Auto. So when analysing this stock, don't look at it like a normal operating company. Think of it as a listed investment/holding company whose valuation is influenced heavily by: Bajaj Auto Bajaj Finserv Other investments Dividend income Cash and investments The discount at which the holding company trades to the underlying asset value 2. Fundamental Analysis FY26 was extremely strong BHIL reported: Particular FY25 FY26 Consolidated PAT ₹1,725 Cr ₹2,575 Cr Standalone PAT ₹91 Cr ₹310 Cr The company described FY26 as an all-time high standalone and consolidated annual profit. It also declared an interim dividend of ₹65/share and recommended a final dividend of ₹130/share, including a special dividend of ₹50. That makes the dividend story particularly interesting.