Recommended Free Tools
The right way to compare Bajaj Finance with another non-banking finance company (NBFC) is to match like with like. Start with each lender’s business model and Reserve Bank of India (RBI) regulatory layer, then compare growth, profitability, asset quality, capital, funding, operating efficiency, concentration risk and valuation. A diversified lender should not be ranked against a specialist simply because it has a larger asset base.
The answer also depends on your purpose. An investor needs sustainable returns and risk-adjusted valuation; a borrower needs the lowest suitable all-in cost and fair terms; a credit analyst needs evidence that reported asset quality can withstand stress.
As an Amazon Associate I earn from qualifying purchases.
What “better” means when comparing NBFCs
There is no universal winner. Bajaj Finance may look strongest on scale, customer acquisition and reported profitability, while a specialist lender may be a better match for a vehicle, housing, rural or gold loan. Define the decision before collecting numbers.
- For investors: assess growth quality, return on assets (ROA), return on equity (ROE), credit cost, capital adequacy, funding resilience, governance and the price already reflected in the shares.
- For borrowers: compare the annual percentage rate (APR) or effective interest rate, processing and foreclosure charges, tenor, collateral, prepayment rules, service standards and grievance channels.
- For credit-risk work: examine portfolio mix, seasoning, gross and net non-performing assets, write-offs, provisions, coverage and concentration rather than relying on one headline NPA ratio.
Use the same reporting period and the same basis—standalone or consolidated—for every company. If a peer’s filing uses a different basis, label the difference instead of presenting the figures as directly comparable.
#1 Best Overall
- [Ultra-Lightweight Ear Buds Designed for Small Ears] Each earbud weighs only 3.7g and features a compact, ergonomic in-ear design made especially for small ears. Secure, low-profile, and comfortable for workouts, all-day wear or overnight sleeping.The ultra-slim profile sits flush in your ear with no hard edges poking or rubbing, so you can even sleep on your side without discomfort.
- [Immersive Stereo Sound with TOZO OrigX Technology] TOZO OrigX tuning delivers clear vocals, balanced mids, and natural stereo sound for music, podcasts, and videos.
- [Long Battery Life for Daily Use] Get up to 7 hours of playtime on a single charge, with up to 32 hours total using the charging case—ideal for workdays, commuting, and extended listening sessions.
- [Bluetooth 5.3 & Stable Connection] Bluetooth 5.3 provides fast pairing, stable wireless performance, and reduced dropouts as you move around home or office.
- [Deep Bass with Clear Vocals] High-performance drivers produce punchy bass while keeping vocals clean and detailed for everyday listening.
Classify each lender before comparing numbers
RBI’s Scale-Based Regulation framework places NBFCs in Base, Middle, Upper and Top layers. The ten largest eligible NBFCs by asset size are placed in the Upper Layer, while the Top Layer is reserved for a specific systemic-risk determination. Upper-Layer entities face enhanced prudential, governance and disclosure expectations. RBI described the framework in its 16 January 2025 press release as the “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on 22 October 2021.
RBI’s 2024–25 Upper-Layer list gives a useful starting point, but companies in different categories still require careful qualification. The listed entities and categories relevant to this comparison are:
| Company | RBI category in the 2024–25 list | Deposit status and principal form | Why the classification matters |
|---|---|---|---|
| Bajaj Finance | Upper Layer | Deposit-taking NBFC-ICC | Broad product mix and enhanced Upper-Layer prudential expectations. |
| Shriram Finance | Upper Layer | Deposit-taking NBFC-ICC | A more useful direct regulatory comparison than an unrelated specialist. |
| LIC Housing Finance | Upper Layer | Deposit-taking housing finance company | Housing-specialist economics and collateral differ from consumer lending. |
| Cholamandalam Investment and Finance | Upper Layer | Non-deposit-taking NBFC-ICC | Funding structure and product mix are not the same as a deposit-taking lender. |
Regulatory status is a filter, not a verdict. Two Upper-Layer NBFCs can have very different customers, collateral, funding and loss patterns.
Bajaj Finance’s FY2024–25 baseline
Use the following figures as the reference point for a like-for-like scorecard. They come from Bajaj Finance’s FY2025 annual report and FY2025 Chairman’s Letter. A peer column should remain “not stated” until the corresponding latest audited filing is collected.
| Measure | Bajaj Finance FY2024–25 | Comparable peer figure in the available evidence | How to use it |
|---|---|---|---|
| Assets under management (AUM) | ₹416,661 crore | Not stated | Scale indicator; meaningful only after product mix is aligned. |
| AUM growth | 26%, from ₹330,615 crore in FY2023–24 | Not stated | Test whether growth is organic, acquisition-led or concentrated in riskier products. |
| Profit after tax | ₹16,779 crore, up 16% | Not stated | Compare with capital employed and risk-adjusted growth, not in isolation. |
| Return on average assets | 4.57% | Not stated | Check calculation period and standalone/consolidated basis. |
| Return on average equity | 19.19% | Not stated | Read with leverage, capital adequacy and dilution. |
| Gross NPA | 0.96% | Not stated | Pair with net NPA, write-offs, provisions and portfolio seasoning. |
| Net NPA | 0.44% | Not stated | Low net NPA can reflect provisions already held; it is not a complete loss forecast. |
| CRAR | 21.93% | Not stated | Compare with each lender’s regulatory minimum and growth plans. |
| Tier-I adequacy | 21.09% | Not stated | Indicates the size of the highest-quality capital buffer. |
| New loans booked | 43.42 million | Not stated | Volume measure; avoid comparing it with a specialist’s differently defined disbursements. |
| Customer franchise | 101.82 million | Not stated | Check the definition of customer and whether inactive or repeat accounts are included. |
| Loan-loss provisions | ₹7,966 crore, versus ₹4,631 crore in FY2023–24 | Not stated | Material context for interpreting the NPA ratios and earnings quality. |
Bajaj Finance vs other NBFCs: compare the business mix first
Bajaj Finance reports consumer, MSME, commercial and rural lending, along with deposits and partner-led financial products. That breadth means its AUM combines short-tenor consumer loans, business credit and other exposures with different yields, operating costs and default behavior.
Rank #2
- 【IP68 Waterproof Multifunctinal Smart Watch】Torjalph fitness activity tracker smart watch is IP68 waterproof technology ,you can wear it when swimming,handwashing,it's rain-proof which means that you perform multiple exercise modes outside without worrying about sweat or rain corroding your fitness smart watch,and this watch equipped with a 230 mAh large capacity battery magnetic charging ,and this sports activity tracker watch can be used 5-7 days If fully charged.
- 【Larger 1.83'' Full Screen Watch & Multi-dial Selection】1.83 inch full HD color touch screen smart watch for men / women provides excellent 240*284 resolution image quality ,This Bluetooth smart watch offers a better touch experience and remarkable immersion and ,more than 200 watch faces for you to choose from App"Da Fit ", you can change the dial style according to your mood to wear keeping the world on your wrist
- 【Accurate Activity Tracker Smart Watch 】sports watch activity tracker uses sweat and dust resistant breathable silicone strap, our Fitness Tracker Smart Watch for Android iOS Phones supports 12 sports modes,walking,running,bicycle,swimming,badminton,basketball,football,rope skipping. This bluetooth calls smart watch for men women is lightweight and stylish, bringing more convenient and relaxing sports experience while also providing more protection.
- 【Your 24 Hour Personal Daily Health Monitor】Fitness watch for women men full touch screen IP67 waterproof bluetooth smartwatch for Android iOS Phones with heart rate blood pressure monitor multifunction Andriod smart watch with steps counter sleep monitor sports fitness watch, monitoring blood oxygen saturation allows you to understand your physical condition in real time to track fitness progress ,to know your health status in time.
- 【More Functions Bluetooth Call Smart Watch】This fitness activity smart watch full screen for iPhone and Android phones includes a bunch of new features including:The bluetooth smart watch can hang up the phone, receive and display WhatsAPP /Text /Facebook /Twitter /Messenger reminder.Support sedentary reminder, alarm clock, stopwatch, timer,weather information,music control, remote camera control compatible with Android 5.0 and above or iOS 9.0 and above smartphones.
Build a segment table for every candidate peer. Separate consumer durable and personal lending from MSME, commercial, rural, housing, vehicle, gold and microfinance exposures. Record each segment’s share of AUM, growth rate, average tenor, collateral and whether the exposure is secured or unsecured. A lender with a smaller AUM but a concentrated secured book is not automatically weaker than a larger diversified lender; the risk and return profiles are different.
Questions to ask about mix
- What percentage of AUM is unsecured consumer credit?
- How much is secured by property, vehicles, gold or other collateral?
- Are dealer, developer, employer, geography or borrower groups concentrated?
- Are new products growing faster than the established book and therefore less seasoned?
- Does the company disclose partner-originated or co-lending exposures separately?
Scale and growth: look beyond AUM
Bajaj Finance’s FY2025 AUM was ₹416,661 crore, up 26% from ₹330,615 crore in FY2024. Its new loans booked were 43.42 million and its customer franchise was 101.82 million. These numbers show distribution and origination capacity, but they do not by themselves show whether growth created value.
Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →For each peer, collect AUM, disbursements, active customers, new-loan volume and the contribution of acquisitions or portfolio transfers. Then reconcile growth with funding and capital: rapid expansion that consumes capital or relies on a narrow funding channel may be less durable than a slower, well-funded book.
Organic versus acquisition-led growth
Separate branch-led, digital and repeat-customer originations from acquired portfolios, mergers and one-time transfers. Acquired books can change delinquency trends and provisions without reflecting the lender’s normal underwriting. Also check whether “customers” means unique active borrowers, accounts or cumulative relationships.
Profitability: compare the engines, not just the headline profit
Bajaj Finance reported FY2025 profit after tax of ₹16,779 crore, up 16%, ROA of 4.57% and ROE of 19.19%. A proper peer comparison adds net interest income, net interest margin, fee income, operating-expense-to-income, pre-impairment profit and credit cost.
Rank #3
- [Low Noise High Fidelity] New bee guitar cord with 22AWG oxygen-free-copper center conductors provides enhanced signal transfer, the PVC insulation material and the high-density stranded copper double shield provide noise rejection for quiet operation
- [Ideal for Choice] New bee 1/4 straight and right angle metal connectors, ensures a secure connection in any instrument, pedal, or amp jack. L shape great fro on stage guitar stands
- [Wide Compatible] Suitable for mixer, power amplifier, microphone, effector, decoder, equalizer, electoronic organ, electric guitar, electric bass and other electronic equipments. Widely used in the installation of smart home, karaoke speaker, professional stage audio, etc
- [Easy Disassemble] Making incidental repairs quick and easy! Very nice, flexible cable
- [Dont Hesite to Order] 24 hours customer services and professional technology team are standing by
Margins vary naturally by product. Unsecured consumer loans can carry higher yields and higher operating or credit costs than secured housing loans. A high ROA may therefore reflect a different risk mix rather than superior execution. ROE can also be lifted by leverage, so read it alongside CRAR, Tier-I capital and any planned equity issuance.
The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Profitability checks
- Use the same average-balance convention for ROA and ROE.
- Separate recurring fee income from one-time gains.
- Compare pre-provision operating profit before judging whether earnings cover expected losses.
- Track whether net interest margin is expanding because of pricing power or because riskier products are taking a larger share.
How to compare NBFC asset quality and credit cost
Start with gross NPA and net NPA, then add write-offs, provisions, credit cost and provisioning coverage. Bajaj Finance reported a 0.96% gross NPA and 0.44% net NPA for FY2025. Its loan-loss provisions were ₹7,966 crore, compared with ₹4,631 crore in FY2024—an increase of 72%. The higher provision charge is essential context: a low reported NPA ratio does not mean losses are static.
Ask whether NPAs are reported before or after write-offs, how restructured loans are treated, and how quickly a loan moves from overdue status to NPA. Compare early-bucket delinquency, stage-2 or equivalent indicators, recoveries and write-off rates where disclosed. A young, rapidly growing book can show low NPAs simply because it has not seasoned through a full credit cycle.
Asset-quality stress tests
- Split the portfolio by product, borrower type, geography and secured status.
- Compare 30-, 60- and 90-day-plus delinquency trends, not only year-end NPA.
- Review provision coverage and the relationship between credit cost and reported profit.
- Stress unsecured consumer, microfinance or concentrated dealer exposures separately.
- Check whether recoveries, collateral sales or write-offs changed the headline ratio.
Capital, funding and liquidity
Bajaj Finance reported a CRAR of 21.93% and Tier-I adequacy of 21.09% for FY2025. RBI’s Upper-Layer framework requires at least 9% CET1 of risk-weighted assets. Compare every lender with the applicable minimum, but do not treat excess capital as idle: high growth, rising risk weights or acquisitions can consume it quickly.
Map funding by deposits, bank borrowing, bonds or non-convertible debentures, external commercial borrowings and other sources. Deposit-taking and non-deposit-taking NBFCs have different funding profiles. Examine liquidity buffers, asset-liability maturity gaps, refinancing concentration and the share of short-term funding used for long-term assets.
Free tools Windows power users keep installed
One-click scans. No signup required.
Rank #4
- Digital Family Calendar: BSIMB digital calendar wall touch screen puts an end to your chaotic life. Designed for busy families, the digital calendar keeps you organised and in step with your family. Assign different colours and tasks to each family member to make family scheduling easier and more intuitive.
- Easy Setup and Auto-Sync: Plug in, connect to WLAN and auto-syn your electric calendar in minutes. Digital wall calendar compatible with Google calendar, iCloud calendar, Outlook calendar, Cozi calendar and Yahoo calendar. Add events directly on the device or through the ecalendar app. Electronic calendar stays current whether you're at work or traveling—no manual updates needed.
- All-In-One Home Assistant: Smart calendar builds habits and encourage independence with personalised chores. Display daily meal plan to reduce the daily ‘What's for dinner?’ stress. To-do lists keep track of everything you want. Turning chores into valuable achievements with stars and rewards, making life easier and more enjoyable.
- Manage Anytime Anywhere: BSIMB electronic calendar for family stay connected with the powerful ecalendar app. Access and manage your digital wall calendar anytime, anywhere with free features like stars & rewards, photo screensaver, chore charts, meals plans, to-do lists etc. Electronic planner paid features like Magic Import tailor advanced tools for users with special needs.
- Stay in Touch with Loved Ones: Share photos or videos from your phone to electronic wall calendar with app, instantly update your life moment, and keep in touch with your family, especially those who are far away; you can also surprise your smart calendar digital wall by sending him a wish card; it's also great for keeping tech-illiterate elders in touch with the youngsters.
Funding questions
- What proportion of liabilities reprices when interest rates move?
- When do major maturities fall due, and how diversified are lenders and investors?
- Does deposit growth keep pace with loan growth?
- Could a market-wide funding disruption force asset sales or expensive refinancing?
Efficiency and distribution
Bajaj Finance reports 4,263 locations and substantial app usage. Compare branches, digital acquisition, repeat-customer share, cost per loan, employee productivity and collection infrastructure with each peer. Digital reach can lower acquisition cost and speed decisions, but automated origination also requires strong fraud controls, data governance and collections.
Do not equate a large branch network with poor efficiency or a mobile app with low costs. Measure operating-expense-to-income, employee numbers, disbursements per employee, service turnaround and complaint-resolution performance on the same basis.
Concentration and downside risk
Concentration can hide inside a low NPA ratio. Review exposure by product, state, borrower group, employer, dealer, developer, funding counterparty and distribution partner. For a diversified lender, identify whether one fast-growing segment is driving total growth. For a specialist, determine whether collateral values and recovery times are sensitive to one economic variable.
Run separate downside cases for unemployment and consumer stress, rural income shocks, property-price declines, vehicle resale values, gold-price volatility and funding-market disruption. The relevant scenario depends on the peer’s actual book, not its corporate label.
How investors should compare NBFC stocks
After operating metrics, add price-to-book, price-to-earnings, growth-adjusted valuation, dividend policy and potential dilution. A high-quality operating profile may already be reflected in the share price. Compare valuation with sustainable—not merely forecast—ROE and with the credit cost required to achieve it.
Check governance, related-party transactions, auditor commentary, management succession, disclosure quality and regulatory actions. A cheaper multiple can reflect weaker transparency, higher concentration or a funding risk that is not visible in one year’s earnings.
A practical investor scorecard
| Category | Evidence to collect | Decision question |
|---|---|---|
| Business quality | Segment mix, customer retention, secured/unsecured split | Is growth coming from repeatable, appropriately priced businesses? |
| Returns | NIM, fee income, operating cost, pre-provision profit, ROA, ROE | Are returns durable after normal credit costs? |
| Risk | GNPA, NNPA, delinquency, write-offs, provisions, coverage | Would a stressed cycle materially change earnings? |
| Balance sheet | CRAR, Tier-I/CET1, leverage, liquidity, maturity gaps | Can the lender fund growth through a shock? |
| Valuation | Price-to-book, P/E, growth and dilution | Is the market price compensating for the risks? |
Bajaj Finance vs Shriram Finance: a like-for-like starting point
Both appear in RBI’s 2024–25 Upper-Layer list as deposit-taking NBFC-ICCs, making them a more relevant starting pair than a consumer lender and a housing specialist. The comparison still requires product segmentation: collect each company’s vehicle, commercial, consumer, MSME, rural and other exposures before comparing AUM or margins.
Do not publish a winner from the available Bajaj Finance figures alone. Shriram Finance’s synchronized FY2025 AUM, profitability, asset-quality, capital and funding metrics must come from its latest audited filing. Until then, the defensible conclusion is that the regulatory category is comparable, while the operating books remain to be measured on the same definitions.
Borrower comparison: company ROE is not your benefit
If you are choosing a loan, investor metrics are secondary. Request a written repayment schedule and compare the effective annual cost for the same principal, tenor and repayment frequency.
- Record the advertised interest rate or APR and whether it is fixed, floating, flat or reducing-balance.
- Add processing, documentation, insurance, mandate, late-payment, bounce and foreclosure or part-prepayment charges.
- Check collateral, guarantor requirements, minimum income, credit-score rules and required documents.
- Compare approval time, disbursement conditions, customer support and the lender’s grievance process.
- Read the prepayment clause: minimum part-payment, lock-in period, notice requirement and applicable fee.
- Calculate the total rupees paid over the full tenor, then test an early-repayment scenario.
A lender’s high ROE does not lower your EMI. A lower quoted rate can still cost more if fees, insurance or a longer tenor are mandatory.
A repeatable NBFC comparison workflow
- Define the purpose. Choose investing, borrowing or credit-risk assessment and write the decision criterion.
- Set the peer set. Match RBI layer, deposit status and principal business model before collecting data.
- Normalize definitions. Align reporting year, standalone or consolidated basis, AUM versus loan book, average balances and NPA recognition.
- Segment the book. Record product, secured status, geography, borrower and partner concentration.
- Build the operating scorecard. Add growth, disbursements, customers, NII, NIM, fee income, operating costs, pre-provision profit, ROA and ROE.
- Test asset quality. Add GNPA, NNPA, delinquency buckets, write-offs, provisions, credit cost and coverage.
- Test resilience. Compare CRAR, Tier-I/CET1, leverage, deposits, market funding, liquidity and maturity gaps.
- Price the outcome. For stocks, calculate valuation against sustainable returns; for loans, calculate APR and total repayment.
- Write the conclusion with uncertainty. Mark every peer figure that is not from the same audited period as not comparable rather than guessing.
Common comparison mistakes
- Ranking by AUM alone: size does not adjust for product risk, collateral or funding.
- Using different years: a current Bajaj Finance figure beside an older peer figure creates a false spread.
- Mixing standalone and consolidated accounts: subsidiaries can materially change revenue, assets and capital.
- Stopping at GNPA: provisions, write-offs, coverage and seasoning determine how informative the ratio is.
- Ignoring capital quality: total CRAR can conceal a thinner Tier-I or CET1 buffer.
- Confusing digital reach with credit quality: app usage measures distribution, not underwriting outcomes.
- Calling the cheapest loan the best: fees, insurance, foreclosure rules and tenor change the all-in cost.
- Declaring a winner without synchronized peer filings: missing data is a reason to qualify the conclusion, not fill cells with estimates.
Final decision rule
Use Bajaj Finance’s FY2025 figures as a documented baseline—₹416,661 crore AUM, 26% growth, 4.57% ROA, 19.19% ROE, 0.96% gross NPA, 0.44% net NPA, 21.93% CRAR and 21.09% Tier-I adequacy—but judge the company only against peers measured on the same definitions. For investors, prefer the lender whose risk-adjusted returns and funding resilience justify its valuation. For borrowers, choose the transparent offer with the lowest suitable total cost and workable terms. For credit analysts, the strongest comparison is the one that explains what the headline ratios leave out.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
