Bajaj Nivesh LimitedQ2 FY27 Results & Financial Update
Bajaj Nivesh Limited: Q2 FY27 standalone results and company financials – revenue ₹297.36 Cr, PAT ₹293.27 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Bajaj Nivesh Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the second quarter of fiscal year 2027 ended September 30, 2026, Bajaj Nivesh Limited reported revenue from operations of INR 297.36 crore and total income of INR 297.37 crore. This performance represents a significant scaling up of top-line revenue compared to the preceding quarter ended June 30, 2026.
Profit before tax (PBT) for Q2 FY27 stood at INR 295.88 crore, accompanied by a tax expense of INR 2.61 crore. The resulting profit after tax (PAT) reached INR 293.27 crore, translating to basic and diluted earnings per share (not annualised) of INR 256.61 for the quarter.
The sharp sequential increase in quarterly revenue and profitability was driven primarily by dividend income. Dividend receipts surged to INR 289.81 crore during the September 2026 quarter compared to INR 263.25 crore in the June 2026 quarter, reflecting the seasonal distribution cycles of portfolio holdings.
Interest income contributed INR 7.07 crore to the top line during the quarter, showing an increase from INR 5.08 crore reported in the preceding quarter. Additionally, net gains on fair value changes of financial instruments added INR 0.48 crore.
Total expenses for the quarter remained minimal at INR 0.15 crore, comprising employee benefits expense of INR 0.17 crore, other expenses of INR 1.32 crore, and negligible provisions, offset by minor adjustments. This lean operational structure ensures that the vast majority of investment income flows directly through to pre-tax and net profits.
Other comprehensive income for the quarter recorded a net loss of INR 158.17 crore, primarily driven by a decrease in the fair value of equity instruments carried at FVTOCI amounting to an adverse movement of INR 184.57 crore, partially offset by a tax impact of INR 26.40 crore. Total comprehensive income for the quarter stood at INR 13.51 crore.
The company's book value per share stood at INR 28,360 as of September 30, 2026. The board of directors declared an interim dividend of INR 160 per equity share (1600%) amounting to INR 182.86 crore, for which a separate bank account was funded and the payout executed on October 13, 2026.
Bajaj Nivesh Limited reported total revenue from operations of INR 297.36 crore for the quarter ended 30 September 2026, marking a significant increase compared to the preceding quarter ended 30 June 2026 where revenue from operations stood at INR 5.41 crore.
01 · Business model
What does Bajaj Nivesh do?
Bajaj Nivesh Limited (formerly operating under the name Maharashtra Scooters Limited) functions as an unregistered core investment company. Its primary economic activity centers on earning income through dividends, interest, and gains from investments held in various financial assets and equity instruments.
The company's core financial performance is driven predominantly by dividend payouts received from its large equity investment portfolio rather than active manufacturing or commercial operations. Consequently, its financial statements reflect the seasonal and periodic timing of dividend declarations by investee entities.
Operating within a single reportable business segment dedicated entirely to investments, the company holds significant equity and financial assets. Its capital is deployed in generating investment income and maintaining treasury balances in compliance with core investment company regulations.
02 · Historical context
What shaped the business before this quarter
The company formally operates under the name Bajaj Nivesh Limited, having previously been known as Maharashtra Scooters Limited.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Revenue from operations | ₹297.36 Cr |
| Total income | ₹297.37 Cr |
| Profit before tax | ₹295.88 Cr |
| Profit after tax | ₹293.27 Cr |
| EPS | ₹256.61 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 98.6% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 99.5% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Dividend income formed the overwhelming majority of revenue from operations, contributing INR 289.81 crore during Q2 FY27 out of total operating revenue of INR 297.36 crore.
Interest income generated from treasury and debt holdings contributed INR 7.07 crore to the quarterly top line.
Net gains on fair value changes of financial assets added INR 0.48 crore to operating revenue for the quarter.
Dividend income formed the primary component of revenue from operations, contributing INR 289.81 crore during the quarter ended 30 September 2026.
Interest income contributed INR 7.07 crore to operations during the quarter.
Net gains on fair value changes contributed INR 0.48 crore to quarterly operational revenue.
What drove margins
Operating expenses were exceptionally low at INR 1.49 crore total (including INR 0.17 crore in employee benefits and INR 1.32 crore in other expenses), allowing the company to maintain an extremely high PAT margin of 98.62%.
Total expenses for Q2 FY27 were contained at INR 1.49 crore, comprising INR 0.17 crore in employee benefits expense and INR 1.32 crore in other expenses, resulting in a high profit conversion from operating revenue.
05 · Reported developments
What changed operationally
The company achieved a robust net profit after tax of INR 293.27 crore for Q2 FY27, backed by strong dividend inflows from its investment portfolio.
06 · Pressure points & risks
What is not going smoothly
Other comprehensive income declined by INR 15.82 crore net of tax during Q2 FY27, driven by a negative fair value change of INR 184.57 crore on equity instruments carried at FVTOCI.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash flow from operating activities for the half year ended September 30, 2026, was INR 295.54 crore, supported by profit before tax of INR 300.43 crore.
Net cash used in financing activities for the half year ended September 30, 2026, was INR 251.29 crore, entirely representing dividend payouts.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Book Value per Share
As of September 30, 2026, the company's book value stood at INR 28,360 per share.
Reported update
Interim Dividend Declaration
The board of directors declared an interim dividend of INR 160 per equity share (1600%) amounting to INR 18.29 crore (INR 182.86 lakh / INR 18,286 lakh), which was paid on October 13, 2026.
09 · Previous-quarter changes
What changed since the previous quarter
Total revenue rose from INR 5.41 crore in Q1 FY27 to INR 297.37 crore in Q2 FY27 due to the receipt of annual dividend distributions.
10 · Key Q&A
The quarter, answered directly
What does Bajaj Nivesh do?
Bajaj Nivesh Limited (formerly operating under the name Maharashtra Scooters Limited) functions as an unregistered core investment company. Its primary economic activity centers on earning income through dividends, interest, and gains from investments held in various financial assets and equity instruments.
What is the clearest takeaway from Q2 FY27?
For the second quarter of fiscal year 2027 ended September 30, 2026, Bajaj Nivesh Limited reported revenue from operations of INR 297.36 crore and total income of INR 297.37 crore. This performance represents a significant scaling up of top-line revenue compared to the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Dividend income formed the overwhelming majority of revenue from operations, contributing INR 289.81 crore during Q2 FY27 out of total operating revenue of INR 297.36 crore.
What mattered most for margins or profitability?
Operating expenses were exceptionally low at INR 1.49 crore total (including INR 0.17 crore in employee benefits and INR 1.32 crore in other expenses), allowing the company to maintain an extremely high PAT margin of 98.62%.
What changed operationally beyond the headline numbers?
As of September 30, 2026, the company's book value stood at INR 28,360 per share.
What are the main pressure points disclosed for the quarter?
Other comprehensive income declined by INR 15.82 crore net of tax during Q2 FY27, driven by a negative fair value change of INR 184.57 crore on equity instruments carried at FVTOCI.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Dividend Realisation: Monitor subsequent quarterly disclosures for recurring dividend receipts from investee companies and fair value movements in the FVTOCI equity portfolio.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.