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	4.64 %	n/a	n/a
Combined Ratio	113.57 %	n/a	n/a
Monthly Gross Direct Premium Income (GDPI)	1343.1 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	936.99 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	12.7 %	14.28 %	0.65 %
5yr average Equity Multiplier	8.92	5.14	1.11
5yr Average Asset Turnover Ratio	0.2	0.14	0.41
5yr Avg Net Profit Margin	7.01 %	19.72 %	44.35 %
Price to Book	3.84	3.62	1.16
P/E	30.51	23.79	99.81
5yr Avg Cash Conversion Cycle	21.4 Days	n/a	127.09 Days
Inventory Days	0.0	n/a	339.1 Days
Days Receivable	21.4 Days	n/a	127.09 Days
Days Payable	0.0	n/a	42.2 Days
5yr Average Interest Coverage Ratio	2.12	n/a	3.01
5yr Avg ROCE	16.06 %	n/a	1.36 %
5yr Avg Operating Profit Margin	35.73 %	n/a	84.8 %
5 yr average Debt to Equity	4.74	n/a	0.08
5yr CAGR Net Profit	16.55 %	n/a	-18.34 %
5yr Average Return on Assets	1.43 %	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 Dividend income 0 Interest income 0 Fee and Commission 0 Others 100	Product Wise Break-Up Dividend income 0 Interest income 63.08 Fee and Commission 21.73 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	-	-