Bajaj Finserv Ltd. benchmarking: Performance to industry peers

Financial

	Bajaj Finserv	Shriram Finance	JIO Financial Serv.
Operational Metrics
General Insurance
Float	10492.45 Crs	n/a	n/a
Yield On Total Investments - General Insurance	5.68 %	n/a	n/a
Combined Ratio	113.57 %	n/a	n/a
Monthly Gross Direct Premium Income (GDPI)	1384.3 Crs	n/a	n/a
Risk Retention Ratio	44.33 %	n/a	n/a
Life Insurance
AUM - Life Insurance	133563.0 Crs	n/a	n/a
New Business Performance - Life Insurance	2283.51 Crs	n/a	n/a
Embedded Value	25300.0 Crs	n/a	n/a
Value Of New Business Margin (VNB)	24.5 %	n/a	n/a
Management Expense Ratio - Life Insurance	24.2 %	n/a	n/a
13 Month Persistency Ratio	77.1 %	n/a	n/a
61 Month Persistency Ratio	48.1 %	n/a	n/a
Commission Ratio - Life Insurance	10.7 %	n/a	n/a
Financials
5 yr Average ROE	12.68 %	13.54 %	0.65 %
5yr average Equity Multiplier	8.53	5.42	1.11
5yr Average Asset Turnover Ratio	0.21	0.14	0.41
5yr Avg Net Profit Margin	7.17 %	18.42 %	44.35 %
Price to Book	3.58	3.32	1.15
P/E	28.49	21.84	95.51
5yr Avg Cash Conversion Cycle	19.49 Days	n/a	127.09 Days
Inventory Days	0.0	n/a	339.1 Days
Days Receivable	19.49 Days	n/a	127.09 Days
Days Payable	0.0	n/a	42.2 Days
5yr Average Interest Coverage Ratio	2.14	n/a	3.01
5yr Avg ROCE	15.85 %	n/a	1.36 %
5yr Avg Operating Profit Margin	34.82 %	n/a	84.8 %
5 yr average Debt to Equity	4.36	n/a	0.08
5yr CAGR Net Profit	14.69 %	n/a	-18.34 %
5yr Average Return on Assets	1.49 %	n/a	0.35 %
Shareholdings
Promoter Holding	58.71 %	25.38 %	47.12 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-2.07 %	-0.13 %	0.35 %
Change in Mutual Fund Holding (3 Yrs)	4.4 %	10.3 %	1.26 %

	Bajaj Finserv	Shriram Finance	JIO Financial Serv.
Segment Break-Up	Segment Break-Up NBFC 55.17 Insurance 39.63 Investments 1.27 Wind 0.01 Others 3.92	-	-
Segment Break-Up	Segment Break-Up NBFC 55.17 Insurance 39.63 Investments 1.27 Wind 0.01 Others 3.92	-	-
Product Wise Break-Up	Product Wise Break-Up Fee and Commission 0 Dividend income 0 Interest income 0 Others 100	Product Wise Break-Up Fee and Commission 0 Interest income 0 Dividend income 0 Others 100	Product Wise Break-Up Fee and Commission 21.73 Interest income 63.08 Dividend income 0 Others 15.19
Location Wise Break-Up	Location Wise Break-Up India 100.0	Location Wise Break-Up India 100.0	Location Wise Break-Up India 100.0
Distribution Channel	Distribution Channel Banking 12.0 Others 88.0	-	-
Premium Break-Up - General Insurance	Premium Break-Up - General Insurance Motors 40.12 Health Insurance 37.53 Crop Insurance 8.87 Fire Equipment 2.69 PERSONAL ACCIDENT 2.22 MARINE 1.6 Worksmens Compensation 0.53 Public/Product Liability 0.32 Engineering 0.29 Aviation 0.02 Credit Insurance 0 Others 5.81	-	-
AUM Break-Up - NBFC	AUM Break-Up - NBFC Mortage 31.25 Consumer Finance 19.64 SME 12.65 Rural 7.75 Consumer Finance 7.59 Commercial Lending Business 5.82 Loans against securities 5.34 Consumer Finance 5.16 Rural 2.09 Others 2.71	-	-
Net Profit Break-Up	Net Profit Break-Up Loan 98.26 General Insurance 1.74 WindMill 0 Life Insurance 0 Investments 0	-	-