Bajaj Finance scales record high after strong Q4 numbers

The company announced Q4 results during trading hours today, 15 May 2013.

Meanwhile, the S&P BSE Sensex was up 436.42 points or 2.21% at 20,158.71.

On BSE, 21,592 shares were traded in the counter as against average daily volume of 5,208 shares in the past one quarter.

The stock hit a high of Rs 1,450.20 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,370 so far during the day. The stock had hit a 52-week low of Rs 786.89 on 4 June 2012.

The stock had outperformed the market over the past one month till 14 May 2013, surging 23.43% compared with the Sensex's 8.11% rally. The scrip had also outperformed the market in past one quarter, jumping 6.82% as against Sensex's 1.15% rise.

The company has equity capital of Rs 49.78 crore. Face value per share is Rs 10.

Bajaj Finance's loan losses and provisions rose 13% to Rs 45 crore in Q4 March 2013 over Q4 March 2012. The provision coverage ratio stood at 83% as on 31 March 2013. Bajaj Finance said it continues to provide for loan losses in excess of RBI requirements.

Bajaj Finance's net profit surged 46% to Rs 591 crore on 43% growth in total income to Rs 3111 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

The company's loan losses and provisions rose 18% to Rs 182 crore in FY 2013 over FY 2012. The provision coverage ratio as on 31 March 2013 stood at 83%, as against 89% as on 31 March 2012. Net non-performing assets (NPAs) ratio increased to 0.19% as on 31 March 2013, from 0.12% as on 31 March 2012.

The company's capital adequacy ratio (CAR) stood at 21.95% as on 31 March 2013. Bajaj Finance said it continues to be well capitalized to support its growth trajectory.

During FY 2013, Bajaj Finance raised Rs 743.52 crore through rights issue of equity shares to augment the capital base of the company for the purpose of capital adequacy requirements.

Bajaj Finance's board of directors at a meeting held today, 15 May 2013, recommended a dividend of Rs 15 per share for FY 2013.

Bajaj Finance offers secured and unsecured loan. The company provides two-and-three wheeler loan, consumer durable loan, personal loans, loan against property, small business loans, construction equipment loan and loan against securities.

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