According to the latest official audited results filed with NSE and BSE on April 29, 2026, Bajaj Finance delivered strong Q4 FY26 performance with consolidated PAT of ₹5,464.57 crore, representing a 21.99% year-on-year increase. The company's revenue from operations rose 18.1% to ₹21,605.79 crore, while standalone PAT grew 23% to ₹4,839 crore compared to ₹3,940 crore in Q4 FY25. As reported by SMC Global Securities, asset quality remained best-in-class with GNPA at 1.01%, NNPA 0.41%, PCR 60%, and CRAR at 21.55%, providing ample runway for 20%+ growth. The company's FY26 PAT grew 14.3% YoY to ₹19,017 crore despite a ₹142 crore additional ECL overlay, while cost-to-income held at 33.8%. A ₹6 per share dividend, including a special payout from Bajaj Housing Finance Ltd's stake sale, reinforces its track record of shareholder returns.
As reported by Live Mint, Jio Financial Services is in aggressive scale-up mode with Q4 FY26 consolidated total income surging 97% YoY to ₹1,020 crore, but PPOP at ₹327 crore and PAT at ₹272 crore reflected margin compression from three factors: line-by-line consolidation of Jio Payments Bank as a 100% subsidiary from June 18, 2025; heavy investments in JioBlackRock AMC, wealth advisory, and reinsurance; and geopolitical volatility hitting treasury income. According to SMC Global Securities, Jio Credit disbursements rose 49% YoY to ₹10,629 crore, driving NII +143% YoY to ₹201 crore and PAT 4x YoY to ₹70 crore. Jio Payment Solutions TPV jumped 145% YoY to ₹14,626 crore with net processing margin doubling to 12 bps, while Jio Payments Bank income grew 11x YoY to ₹87 crore with CASA customers up 61% to 3.7 million.
According to SMC Global Securities, Bajaj Finance is positioned as a low-risk compounder with predictable earnings, strong asset quality, and proven execution, while Jio Financial represents a high-beta ecosystem play where near-term PAT is weighed down by investments but lending, payments, and AMC are scaling rapidly. As reported by Live Mint, long-term investors should consider their risk profile and appetite for investment, as both companies offer distinct advantages. Bajaj Finance suits core NBFC allocation with its consistent performance, while Jio Fin offers outsized upside potential if FY27 brings operating leverage as nascent verticals mature and consolidation drag fades. Recent market developments show that FY27 guidance from IT majors has fallen short of expectations, with client spending appearing to have stalled due to Middle East conflict and its macroeconomic repercussions. However, BNP Paribas analyst Kumar Rakesh warns against labeling large-cap IT stocks as "value" investments while disruption persists, as AI disruption creates a widening growth divergence among companies.
According to Lakshmishree's Anshul Jain, Jio Financial has been consolidating in a broad 205–360 range since listing, but the formation of a higher low on weekly and monthly charts suggests the stock may have completed its base-building phase near the lows. The structure indicates gradual accumulation, with potential to head toward the 350 zone over time, though the setup is long-term in nature. In contrast, Bajaj Finance remains in a strong secular uptrend, currently retracing into rising 10- and 20-month EMAs, a classic bullish continuation setup with relative strength clearly favoring Bajaj Finance, with bulls likely targeting the 1200 zone in the medium term.
