Bajaj Finserv Ltd · BAJAJFINSV
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₹21.8K Cr
₹23.6K Cr
₹23.3K Cr
₹26.0K Cr
₹29.0K Cr
₹32.0K Cr
₹31.5K Cr
₹33.7K Cr
₹32.0K Cr
₹36.6K Cr
₹35.3K Cr
₹37.4K Cr
₹39.7K Cr
₹38.5K Cr
₹42.0K Cr
20-quarter listed-company comparison
Finance - Holding Company Stocks in India
Finance - Holding Company: Bajaj Finserv Ltd owns the largest revenue base; Jindal Poly Investment & Finance Company Ltd has the fastest current growth.
01 · the index people search for
Nifty Finance - Holding Company Index — Constituents & Performance
The Finance - Holding Company companies below are the listed Indian Finance - Holding Company universe this page tracks — the same constituent set people search for as the Nifty Finance - Holding Company index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
02 · the sector itself · before any single company
How has Finance - Holding Company moved against NIFTY 500?
The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 13% ahead of NIFTY 500. Earnings across its companies grew 10% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 7 weeks running.
FADING · −6 in 4w~Moving with the index6 of 18 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more
RS ↑7w · 8/18 >200d (+2) · 6/18 lead (−6) · EPS 11/18↑
Finance - Holding Company, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Finance - Holding Company, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Finance - Holding Company, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 18 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
03 · sector relative strength, before individual stocks
Is Finance - Holding Company outperforming NIFTY 500?
Finance - Holding Company has underperformed NIFTY 500 by 4.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.3%. 5 of 18 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Jindal Poly Investment & Finance Company Ltd is the strongest against the sector itself at +32.3%.
+4.3%Sector vs NIFTY 500 · 13 weeks
-4.7%Sector vs NIFTY 500 · 52 weeks
5/18Stocks leading NIFTY 500
6/18Stocks leading sector
Sector metric: 37.7 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Finance - Holding Company has underperformed NIFTY 500 by 4.7% over 52 weeks and 4.3% over 13 weeks. 5 of 18 covered companies beat NIFTY on Mansfield relative strength, while 6 of 18 beat the sector itself. Bajaj Finserv Ltd leads with income of ₹1,57,642 crore, based on 18 of 18 comparable companies through Jun 2026.
Companies
18
complete canonical membership
Combined market value
₹6.9 L Cr
Bajaj Finserv Ltd
Revenue growing
14/18
positive TTM year-on-year growth
Beating NIFTY 500
5/18
positive Mansfield relative strength
Comparing 5 of 18
04 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Jindal Poly Investment & Finance Company Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 76% evidence confidence.
Alembic Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Kalyani Investment Company Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Jindal Poly Investment & Finance Company LtdJPOLYINVST | 79.8/100Favorable setup76% evidence | ASLEEP | 30.0/35 Income 100% · PAT 100% 71% evidence | 20.7/25 ROA 47.9% · ROE 54.8% · GNPA — 68% evidence | 14.5/20 P/BV 0.67× · P/BV÷ROE 0.01 100% evidence | 14.6/20 RS sector 32.3% · RS bench -2.4% · 1Y 28%0 of 10 weeks ahead 70% evidence |
| Exact sum: 30 + 20.7 + 14.5 + 14.6 = 79.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Kama Holdings LtdKAMAHOLD | 68.3/100Favorable setup78% evidence | ASLEEP | 24.3/35 Income 7.4% · PAT 47% 75% evidence | 17.8/25 ROA 7.3% · ROE 12.7% · GNPA — 72% evidence | 18.1/20 P/BV 1.01× · P/BV÷ROE 0.08 100% evidence | 8.1/20 RS sector -0.5% · RS bench -9.8% · 1Y -18.1%1 of 10 weeks ahead 70% evidence |
| Exact sum: 24.3 + 17.8 + 18.1 + 8.1 = 68.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3TVS Holdings LtdTVSHLTD | 65.3/100Favorable setup67% evidence | TURNING | 25.2/35 Income 31.7% · PAT 49.4% 52% evidence | 16.2/25 ROA — · ROE 30.6% · GNPA — 34% evidence | 10.3/20 P/BV 4.6× · P/BV÷ROE 0.15 100% evidence | 13.6/20 RS sector 4.5% · RS bench 3.8% · 1Y 22.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 25.2 + 16.2 + 10.3 + 13.6 = 65.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Godrej Industries LtdGODREJIND | 59.5/100Mixed-positive evidence73% evidence | LEADER | 20.8/35 Income 13.1% · PAT 29.8% 45% evidence | 14.1/25 ROA 1.9% · ROE 9.3% · GNPA — 68% evidence | 5.1/20 P/BV 3.97× · P/BV÷ROE 0.43 100% evidence | 19.5/20 RS sector 22% · RS bench 20.7% · 1Y 16%12 of 12 weeks ahead 100% evidence |
| Exact sum: 20.8 + 14.1 + 5.1 + 19.5 = 59.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Cholamandalam Financial Holdings LtdCHOLAHLDNG | 56.8/100Mixed-positive evidence76% evidence | ASLEEP | 19.0/35 Income 17.9% · PAT 15.7% 55% evidence | 18.0/25 ROA 2.2% · ROE 17.5% · GNPA — 68% evidence | 15.2/20 P/BV 1.86× · P/BV÷ROE 0.11 100% evidence | 4.6/20 RS sector -10.9% · RS bench -12.1% · 1Y -23%3 of 12 weeks ahead 100% evidence |
| Exact sum: 19 + 18 + 15.2 + 4.6 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Bajaj Finserv LtdBAJAJFINSV | 54.4/100Mixed-positive evidence61% evidence | TURNING | 18.2/35 Income 14.5% · PAT 10.5% 52% evidence | 14.8/25 ROA — · ROE 13.2% · GNPA — 34% evidence | 8.0/20 P/BV 4.17× · P/BV÷ROE 0.32 100% evidence | 13.4/20 RS sector 2.1% · RS bench 3.8% · 1Y 2.2%1 of 10 weeks ahead 70% evidence |
| Exact sum: 18.2 + 14.8 + 8 + 13.4 = 54.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Alembic LtdALEMBICLTD | 52.8/100Mixed-positive evidence78% evidence | ASLEEP | 11.8/35 Income 8.1% · PAT 2.3% 75% evidence | 18.1/25 ROA 12.2% · ROE 13% · GNPA — 72% evidence | 16.7/20 P/BV 0.96× · P/BV÷ROE 0.07 100% evidence | 6.2/20 RS sector -10.9% · RS bench -5.3% · 1Y -20.8%1 of 10 weeks ahead 70% evidence |
| Exact sum: 11.8 + 18.1 + 16.7 + 6.2 = 52.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 8Bajaj Holdings & Investment LtdBAJAJHLDNG | 52.3/100Mixed-positive evidence61% evidence | TURNING | 18.1/35 Income 30.3% · PAT 5.6% 52% evidence | 13.8/25 ROA — · ROE 11.9% · GNPA — 34% evidence | 12.3/20 P/BV 1.73× · P/BV÷ROE 0.14 100% evidence | 8.1/20 RS sector -9.6% · RS bench -0.7% · 1Y -18.1%1 of 11 weeks ahead 70% evidence |
| Exact sum: 18.1 + 13.8 + 12.3 + 8.1 = 52.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Tata Investment Corporation LtdTATAINVEST | 49.3/100Mixed-negative evidence78% evidence | ASLEEP | 25.3/35 Income 30.6% · PAT 38.3% 75% evidence | 11.2/25 ROA 1.3% · ROE 1.4% · GNPA — 72% evidence | 3.9/20 P/BV 1.17× · P/BV÷ROE 0.81 100% evidence | 8.9/20 RS sector -1.1% · RS bench -4.8% · 1Y 2.6%2 of 10 weeks ahead 70% evidence |
| Exact sum: 25.3 + 11.2 + 3.9 + 8.9 = 49.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Maharashtra Scooters LtdMAHSCOOTER | 44.8/100Mixed-negative evidence61% evidence | TURNING | 21.9/35 Income 41% · PAT 15.3% 52% evidence | 10.8/25 ROA — · ROE 1.1% · GNPA — 34% evidence | 3.1/20 P/BV 0.54× · P/BV÷ROE 0.51 100% evidence | 9.0/20 RS sector -0.4% · RS bench -8.4% · 1Y -11%0 of 10 weeks ahead 70% evidence |
| Exact sum: 21.9 + 10.8 + 3.1 + 9 = 44.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Rane Holdings LtdRANEHOLDIN | 44.6/100Mixed-negative evidence67% evidence | TURNING | 16.6/35 Income 34.9% · PAT -38.5% 45% evidence | 13.9/25 ROA 4% · ROE 7% · GNPA — 68% evidence | 5.1/20 P/BV 2.16× · P/BV÷ROE 0.31 100% evidence | 9.0/20 RS sector -10.9% · RS bench 22.4% · 1Y 11.6%9 of 10 weeks ahead 70% evidence |
| Exact sum: 16.6 + 13.9 + 5.1 + 9 = 44.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Max India LtdMAXIND | 40.9/100Thin evidence · provisional55% evidence | TURNING | 23.5/35 Income 30.8% · PAT 13.5% 45% evidence | 4.0/25 ROA -18.2% · ROE -32.8% · GNPA — 68% evidence | 8.3/20 P/BV 2.21× · P/BV÷ROE — 40% evidence | 5.1/20 RS sector -16.6% · RS bench -5.2% · 1Y -22.8%5 of 10 weeks ahead 70% evidence |
| Exact sum: 23.5 + 4 + 8.3 + 5.1 = 40.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 13Vardhman Holdings LtdVHL | 39.8/100Mixed-negative evidence76% evidence | ASLEEP | 7.4/35 Income -47.8% · PAT -15.9% 71% evidence | 14.8/25 ROA 5.8% · ROE 5.9% · GNPA — 68% evidence | 8.0/20 P/BV 0.29× · P/BV÷ROE 0.05 100% evidence | 9.6/20 RS sector -0.3% · RS bench -6.1% · 1Y -17.2%2 of 10 weeks ahead 70% evidence |
| Exact sum: 7.4 + 14.8 + 8 + 9.6 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Elcid Investments LtdELCIDIN | 36.3/100Mixed-negative evidence69% evidence | ASLEEP | 14.8/35 Income -36.8% · PAT -28.3% 48% evidence | 9.7/25 ROA 1.3% · ROE 1.2% · GNPA — 72% evidence | 8.6/20 P/BV 0.26× · P/BV÷ROE 0.21 70% evidence | 3.2/20 RS sector -8.7% · RS bench -9.7% · 1Y -17.4%8 of 12 weeks ahead 100% evidence |
| Exact sum: 14.8 + 9.7 + 8.6 + 3.2 = 36.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Kalyani Investment Company LtdKICL | 34.1/100Adverse evidence72% evidence | TURNING | 8.0/35 Income 1.3% · PAT -47.9% 75% evidence | 6.3/25 ROA 0.3% · ROE 0.4% · GNPA — 72% evidence | 5.0/20 P/BV 0.21× · P/BV÷ROE 0.57 70% evidence | 14.8/20 RS sector 3.7% · RS bench 8.8% · 1Y 11.2%5 of 10 weeks ahead 70% evidence |
| Exact sum: 8 + 6.3 + 5 + 14.8 = 34.1 · Decision use: Price leads the evidence: RS versus the benchmark is 8.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 16Max Financial Services LtdMFSL | 29.0/100Adverse evidence78% evidence | ASLEEP | 9.6/35 Income 2.6% · PAT -74% 75% evidence | 6.7/25 ROA 0.1% · ROE 1.5% · GNPA — 72% evidence | 0.4/20 P/BV 9.8× · P/BV÷ROE 6.45 100% evidence | 12.3/20 RS sector 19.3% · RS bench -9.5% · 1Y -1.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 9.6 + 6.7 + 0.4 + 12.3 = 29 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17JSW Holdings LtdJSWHL | 26.0/100Adverse evidence78% evidence | ASLEEP | 9.8/35 Income -27.1% · PAT -25.4% 75% evidence | 7.8/25 ROA 0.4% · ROE 0.5% · GNPA — 72% evidence | 4.4/20 P/BV 0.38× · P/BV÷ROE 0.83 70% evidence | 4.0/20 RS sector -29.1% · RS bench -29.9% · 1Y -46.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 9.8 + 7.8 + 4.4 + 4 = 26 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Pilani Investment & Industries Corporation LtdPILANIINVS | 23.1/100Adverse evidence69% evidence | ASLEEP | 12.0/35 Income -6.4% · PAT -68.5% 48% evidence | 5.3/25 ROA 0.2% · ROE 0.2% · GNPA — 72% evidence | 4.1/20 P/BV 0.3× · P/BV÷ROE 1.5 70% evidence | 1.7/20 RS sector -11.5% · RS bench -12.4% · 1Y -15.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12 + 5.3 + 4.1 + 1.7 = 23.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Showing 10 of 18 companies
05 · what price has already done
Market action
Jindal Poly Investment & Finance Company Ltd has the strongest one-year price move in Finance - Holding Company at +28%. Rane Holdings Ltd leads on Mansfield relative strength against NIFTY at +22.4%. 5 of 18 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.
Price and relative strength
Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against Finance - Holding Company itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
06 · compare level, then change
Income Scale & Growth Durability
Bajaj Finserv Ltd has the highest Income among the 18 Finance - Holding Company companies compared here, at ₹1,57,642 crore. TVS Holdings Ltd is next at ₹62,489 crore. Jindal Poly Investment & Finance Company Ltd has the highest Income growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Bajaj Finserv Ltd is the scale leader at ₹1,57,642 crore, 152.3% ahead of TVS Holdings Ltd. Jindal Poly Investment & Finance Company Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 3137.5% from a ₹1,036 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderBajaj Finserv Ltd · ₹1,57,642 crore
Gap152.3% versus #2 · TVS Holdings Ltd
Persistence8/8 recent comparable periods
Coverage18/18 companies · 297 observations
Investor read: Bajaj Finserv Ltd is the scale benchmark; Jindal Poly Investment & Finance Company Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Bajaj Finserv Ltd's growth falls below Jindal Poly Investment & Finance Company Ltd's for two consecutive comparable reports while operating margin also compresses.
For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
Income growthfastest growers
Income · company comparison
18/18 level · 18/18 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Income | Income growth | Reported |
|---|---|---|---|
| Bajaj Finserv Ltd BAJAJFINSV | ₹42.0K Cr | 19% | Jun 2026 |
| TVS Holdings Ltd TVSHLTD | ₹17.1K Cr | 34% | Jun 2026 |
| Max Financial Services Ltd MFSL | ₹10.8K Cr | -13% | Mar 2026 |
| Cholamandalam Financial Holdings Ltd CHOLAHLDNG | ₹10.4K Cr | 16% | Mar 2026 |
| Godrej Industries Ltd GODREJIND | ₹7.7K Cr | 33% | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | ₹4.7K Cr | 7.1% | Mar 2026 |
| Rane Holdings Ltd RANEHOLDIN | ₹1.6K Cr | 17% | Mar 2026 |
| Bajaj Holdings & Investment Ltd BAJAJHLDNG | ₹394 Cr | 21% | Jun 2026 |
| Max India Ltd MAXIND⚠ unverified | ₹66 Cr | 57% | Mar 2026 |
| Alembic Ltd ALEMBICLTD | ₹60 Cr | 0.0% | Mar 2026 |
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | ₹47 Cr | 488% | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | ₹44 Cr | -22% | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | ₹40 Cr | 150% | Mar 2026 |
| JSW Holdings Ltd JSWHL | ₹33 Cr | 14% | Mar 2026 |
| Kalyani Investment Company Ltd KICL | ₹22 Cr | 4.8% | Mar 2026 |
| Maharashtra Scooters Ltd MAHSCOOTER | ₹5 Cr | -82% | Jun 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | ₹0 Cr | -100% | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | ₹-64 Cr | -21% | Mar 2026 |
Full 20-quarter history · every available company
Income · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
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—
—
—
—
₹98 Cr
₹87 Cr
₹104 Cr
₹225 Cr
₹108 Cr
₹1.2K Cr
₹134 Cr
₹279 Cr
₹126 Cr
₹145 Cr
₹325 Cr
₹397 Cr
₹288 Cr
₹61 Cr
₹394 Cr
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
—
—
—
₹4.7K Cr
₹5.2K Cr
₹5.6K Cr
₹6.3K Cr
₹6.8K Cr
₹7.1K Cr
₹7.6K Cr
₹8.1K Cr
₹8.5K Cr
₹8.9K Cr
₹9.3K Cr
₹9.5K Cr
₹9.9K Cr
₹10.4K Cr
—
Godrej Industries Ltd · GODREJIND
—
—
—
—
—
₹3.8K Cr
₹4.9K Cr
₹4.5K Cr
₹3.9K Cr
₹3.6K Cr
₹4.6K Cr
₹4.2K Cr
₹4.8K Cr
₹4.8K Cr
₹5.8K Cr
₹4.5K Cr
₹5.0K Cr
₹5.1K Cr
₹7.7K Cr
—
JSW Holdings Ltd · JSWHL
₹134 Cr
₹17 Cr
₹19 Cr
₹19 Cr
₹337 Cr
₹26 Cr
₹24 Cr
₹26 Cr
₹89 Cr
₹27 Cr
₹27 Cr
₹27 Cr
₹162 Cr
₹29 Cr
₹29 Cr
₹30 Cr
₹84 Cr
₹33 Cr
₹33 Cr
—
Kama Holdings Ltd · KAMAHOLD
₹2.9K Cr
₹3.4K Cr
₹3.6K Cr
₹3.9K Cr
₹3.9K Cr
₹3.5K Cr
₹3.8K Cr
₹3.4K Cr
₹3.2K Cr
₹3.1K Cr
₹3.8K Cr
₹3.5K Cr
₹3.5K Cr
₹3.5K Cr
₹4.4K Cr
₹3.9K Cr
₹3.7K Cr
₹3.7K Cr
₹4.7K Cr
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
—
—
—
₹7 Cr
₹9 Cr
₹5 Cr
₹206 Cr
₹6 Cr
₹5 Cr
₹8 Cr
₹163 Cr
₹6 Cr
₹7 Cr
₹29 Cr
₹271 Cr
₹6 Cr
₹6 Cr
₹5 Cr
Max Financial Services Ltd · MFSL
₹9.3K Cr
₹7.0K Cr
₹9.0K Cr
₹3.3K Cr
₹9.3K Cr
₹8.9K Cr
₹9.9K Cr
₹9.2K Cr
₹10.2K Cr
₹12.4K Cr
₹14.9K Cr
₹11.8K Cr
₹13.4K Cr
₹8.9K Cr
₹12.4K Cr
₹12.8K Cr
₹9.8K Cr
₹14.3K Cr
₹10.8K Cr
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Pilani Investment & Industries Corporation Ltd · PILANIINVS
₹98 Cr
₹52 Cr
₹53 Cr
₹60 Cr
₹112 Cr
₹52 Cr
₹54 Cr
₹55 Cr
₹107 Cr
₹62 Cr
₹63 Cr
₹62 Cr
₹123 Cr
₹61 Cr
₹57 Cr
₹50 Cr
₹129 Cr
₹60 Cr
₹44 Cr
—
Rane Holdings Ltd · RANEHOLDIN
—
—
—
—
—
₹874 Cr
₹938 Cr
₹894 Cr
₹928 Cr
₹837 Cr
₹870 Cr
₹831 Cr
₹916 Cr
₹1.2K Cr
₹1.4K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
—
Tata Investment Corporation Ltd · TATAINVEST
₹89 Cr
₹51 Cr
₹52 Cr
₹102 Cr
₹107 Cr
₹38 Cr
₹31 Cr
₹152 Cr
₹124 Cr
₹51 Cr
₹57 Cr
₹142 Cr
₹142 Cr
₹4 Cr
₹16 Cr
₹145 Cr
₹154 Cr
₹58 Cr
₹40 Cr
—
TVS Holdings Ltd · TVSHLTD
—
—
—
—
—
₹8.5K Cr
₹8.5K Cr
₹9.6K Cr
₹10.6K Cr
₹10.0K Cr
₹10.0K Cr
₹10.4K Cr
₹11.6K Cr
₹11.4K Cr
₹11.8K Cr
₹12.7K Cr
₹14.5K Cr
₹15.3K Cr
₹15.6K Cr
₹17.1K Cr
Income growth · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Finserv Ltd · BAJAJFINSV
—
—
—
—
—
—
—
—
—
33%
36%
35%
30%
10%
14%
12%
11%
24%
5.2%
19%
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
—
—
—
—
—
—
—
—
—
10%
1,293%
29%
24%
17%
-88%
143%
42%
129%
-58%
21%
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
—
—
—
—
—
—
—
44%
36%
36%
28%
25%
26%
22%
17%
17%
16%
—
Godrej Industries Ltd · GODREJIND
—
—
—
—
—
—
—
—
—
-6.6%
-5.9%
-5.7%
22%
34%
27%
5.0%
4.7%
4.7%
33%
—
JSW Holdings Ltd · JSWHL
—
—
—
19%
151%
53%
26%
37%
-74%
3.9%
13%
3.9%
82%
7.4%
7.4%
11%
-48%
14%
14%
—
Kama Holdings Ltd · KAMAHOLD
—
—
—
44%
37%
4.0%
3.5%
-14%
-18%
-12%
0.7%
4.1%
7.7%
15%
15%
10%
6.4%
6.2%
7.1%
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
—
—
—
—
—
—
—
-15%
-44%
47%
-21%
-9.1%
28%
279%
66%
11%
-9.3%
-82%
Max Financial Services Ltd · MFSL
—
—
—
-45%
-0.0%
28%
11%
180%
9.0%
39%
50%
29%
32%
-28%
-17%
8.7%
-27%
60%
-13%
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
—
—
—
9.1%
14%
0.0%
2.1%
-8.8%
-4.8%
19%
17%
13%
15%
-1.2%
-10%
-20%
5.4%
-2.2%
-22%
—
Rane Holdings Ltd · RANEHOLDIN
—
—
—
—
—
—
—
—
—
-4.2%
-7.3%
-7.1%
-1.3%
48%
58%
61%
53%
24%
17%
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
—
65%
20%
-25%
-40%
49%
16%
34%
84%
-6.6%
15%
-92%
-72%
2.1%
8.5%
1,350%
150%
—
TVS Holdings Ltd · TVSHLTD
—
—
—
—
—
—
—
—
—
18%
18%
8.3%
8.9%
13%
18%
23%
26%
34%
32%
34%
07 · compare level, then change
Profit Scale & Acceleration
Bajaj Finserv Ltd has the highest Net profit among the 18 Finance - Holding Company companies compared here, at ₹20,637 crore. Bajaj Holdings & Investment Ltd is next at ₹8,993 crore. Jindal Poly Investment & Finance Company Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Bajaj Finserv Ltd leads with ₹20,637 crore of TTM profit, 129.5% above Bajaj Holdings & Investment Ltd. Jindal Poly Investment & Finance Company Ltd shows ≥100% on the scoring scale (189.9% uncapped) growth from a ₹858 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderBajaj Finserv Ltd · ₹20,637 crore
Gap129.5% versus #2 · Bajaj Holdings & Investment Ltd
Persistence7/8 recent comparable periods
Coverage18/18 companies · 297 observations
Investor read: Bajaj Finserv Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
Profit growthfastest growers
Net profit · company comparison
18/18 level · 15/18 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Bajaj Finserv Ltd BAJAJFINSV | ₹6.3K Cr | 18% | Jun 2026 |
| Bajaj Holdings & Investment Ltd BAJAJHLDNG | ₹2.7K Cr | -23% | Jun 2026 |
| Cholamandalam Financial Holdings Ltd CHOLAHLDNG | ₹1.6K Cr | 19% | Mar 2026 |
| TVS Holdings Ltd TVSHLTD | ₹1.2K Cr | 74% | Jun 2026 |
| Godrej Industries Ltd GODREJIND | ₹841 Cr | 102% | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | ₹584 Cr | 11% | Mar 2026 |
| Rane Holdings Ltd RANEHOLDIN | ₹88 Cr | 633% | Mar 2026 |
| Alembic Ltd ALEMBICLTD | ₹67 Cr | -1.5% | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | ₹64 Cr | 68% | Mar 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | ₹54 Cr | -23% | Mar 2026 |
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | ₹35 Cr | -48% | Mar 2026 |
| Kalyani Investment Company Ltd KICL | ₹19 Cr | -27% | Mar 2026 |
| JSW Holdings Ltd JSWHL | ₹14 Cr | 40% | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | ₹5 Cr | -208% | Mar 2026 |
| Maharashtra Scooters Ltd MAHSCOOTER | ₹3 Cr | -91% | Jun 2026 |
| Max India Ltd MAXIND⚠ unverified | ₹-19 Cr | -436% | Mar 2026 |
| Max Financial Services Ltd MFSL | ₹-32 Cr | -184% | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | ₹-41 Cr | -26% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Finserv Ltd · BAJAJFINSV
—
—
—
—
—
₹3.3K Cr
₹3.3K Cr
₹3.7K Cr
₹3.8K Cr
₹4.0K Cr
₹4.1K Cr
₹4.2K Cr
₹4.2K Cr
₹4.4K Cr
₹4.8K Cr
₹5.3K Cr
₹4.7K Cr
₹4.4K Cr
₹5.2K Cr
₹6.3K Cr
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
—
—
—
—
—
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.6K Cr
₹1.6K Cr
₹2.7K Cr
₹1.6K Cr
₹1.5K Cr
₹1.8K Cr
₹1.8K Cr
₹3.5K Cr
₹1.7K Cr
₹2.0K Cr
₹2.6K Cr
₹2.7K Cr
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
—
—
—
₹720 Cr
₹901 Cr
₹792 Cr
₹888 Cr
₹1.0K Cr
₹1.1K Cr
₹1.2K Cr
₹1.1K Cr
₹1.1K Cr
₹1.4K Cr
₹1.3K Cr
₹1.2K Cr
₹1.4K Cr
₹1.6K Cr
—
Godrej Industries Ltd · GODREJIND
—
—
—
—
—
₹382 Cr
₹562 Cr
₹291 Cr
₹164 Cr
₹165 Cr
₹-25 Cr
₹641 Cr
₹489 Cr
₹312 Cr
₹416 Cr
₹725 Cr
₹493 Cr
₹353 Cr
₹841 Cr
—
JSW Holdings Ltd · JSWHL
₹104 Cr
₹17 Cr
₹16 Cr
₹6 Cr
₹255 Cr
₹30 Cr
₹41 Cr
₹24 Cr
₹63 Cr
₹35 Cr
₹33 Cr
₹53 Cr
₹120 Cr
₹14 Cr
₹10 Cr
₹34 Cr
₹67 Cr
₹32 Cr
₹14 Cr
—
Kama Holdings Ltd · KAMAHOLD
₹383 Cr
₹507 Cr
₹603 Cr
₹610 Cr
₹625 Cr
₹524 Cr
₹566 Cr
₹362 Cr
₹300 Cr
₹255 Cr
₹623 Cr
₹251 Cr
₹204 Cr
₹272 Cr
₹527 Cr
₹436 Cr
₹390 Cr
₹434 Cr
₹584 Cr
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
—
—
—
₹3 Cr
₹1 Cr
₹0 Cr
₹198 Cr
₹1 Cr
₹0 Cr
₹8 Cr
₹151 Cr
₹3 Cr
₹52 Cr
₹35 Cr
₹267 Cr
₹4 Cr
₹4 Cr
₹3 Cr
Max Financial Services Ltd · MFSL
₹48 Cr
₹91 Cr
₹144 Cr
₹68 Cr
₹62 Cr
₹269 Cr
₹52 Cr
₹101 Cr
₹170 Cr
₹171 Cr
₹-50 Cr
₹156 Cr
₹139 Cr
₹70 Cr
₹38 Cr
₹86 Cr
₹6 Cr
₹45 Cr
₹-32 Cr
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
₹79 Cr
₹33 Cr
₹54 Cr
₹45 Cr
₹89 Cr
₹36 Cr
₹75 Cr
₹25 Cr
₹54 Cr
₹56 Cr
₹31 Cr
₹33 Cr
₹78 Cr
₹13 Cr
₹-25 Cr
₹-4 Cr
₹45 Cr
₹-14 Cr
₹5 Cr
—
Rane Holdings Ltd · RANEHOLDIN
—
—
—
—
—
₹51 Cr
₹-8 Cr
₹12 Cr
₹51 Cr
₹48 Cr
₹38 Cr
₹20 Cr
₹185 Cr
₹4 Cr
₹12 Cr
₹57 Cr
₹31 Cr
₹-40 Cr
₹88 Cr
—
Tata Investment Corporation Ltd · TATAINVEST
₹100 Cr
₹40 Cr
₹20 Cr
₹90 Cr
₹107 Cr
₹35 Cr
₹20 Cr
₹148 Cr
₹124 Cr
₹53 Cr
₹60 Cr
₹131 Cr
₹124 Cr
₹20 Cr
₹38 Cr
₹146 Cr
₹148 Cr
₹75 Cr
₹64 Cr
—
TVS Holdings Ltd · TVSHLTD
—
—
—
—
—
₹289 Cr
₹324 Cr
₹409 Cr
₹457 Cr
₹532 Cr
₹464 Cr
₹481 Cr
₹599 Cr
₹685 Cr
₹644 Cr
₹675 Cr
₹880 Cr
₹969 Cr
₹865 Cr
₹1.2K Cr
Profit growth · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Finserv Ltd · BAJAJFINSV
—
—
—
—
—
—
—
—
—
23%
22%
13%
11%
9.1%
16%
27%
14%
-1.0%
9.9%
18%
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
—
—
—
—
—
—
—
—
—
28%
101%
14%
-4.9%
6.4%
-36%
117%
12%
15%
47%
-23%
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
—
—
—
—
—
—
—
43%
27%
46%
27%
6.4%
19%
8.6%
7.9%
27%
19%
—
Godrej Industries Ltd · GODREJIND
—
—
—
—
—
—
—
—
—
-57%
-104%
120%
198%
89%
—
13%
0.8%
13%
102%
—
JSW Holdings Ltd · JSWHL
—
—
—
-60%
145%
76%
156%
300%
-75%
17%
-20%
121%
90%
-60%
-70%
-36%
-44%
129%
40%
—
Kama Holdings Ltd · KAMAHOLD
—
—
—
54%
63%
3.4%
-6.1%
-41%
-52%
-51%
10%
-31%
-32%
6.7%
-15%
74%
91%
60%
11%
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
—
—
—
—
—
—
—
-67%
-88%
1,621%
-24%
230%
—
328%
77%
25%
-92%
-91%
Max Financial Services Ltd · MFSL
—
—
—
89%
29%
196%
-64%
49%
174%
-36%
-196%
54%
-18%
-59%
—
-45%
-96%
-36%
-184%
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
—
—
—
29%
13%
9.1%
39%
-44%
-39%
54%
-58%
29%
43%
-76%
-180%
-112%
-42%
-208%
—
—
Rane Holdings Ltd · RANEHOLDIN
—
—
—
—
—
—
—
—
—
-5.9%
—
67%
263%
-92%
-68%
185%
-83%
-1,100%
633%
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
—
67%
7.0%
-13%
0.0%
64%
16%
51%
200%
-11%
0.0%
-62%
-37%
11%
19%
275%
68%
—
TVS Holdings Ltd · TVSHLTD
—
—
—
—
—
—
—
—
—
84%
43%
18%
31%
29%
39%
40%
47%
41%
34%
74%
08 · compare level, then change
Funding Base & Its Composition
No company in this Finance - Holding Company comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, Bajaj Finserv Ltd is highest at ₹4,29,914 crore, across 18 of 18 companies with a usable reading.
What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.
LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/18 companies · 0 observations
Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.
For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
—Not enough comparable data—
Borrowingslargest borrowings
Funding base · company comparison
0/18 level · 18/18 change
All-company data · latest reported quarter
| Company | Deposits | Borrowings | Reported |
|---|---|---|---|
| Bajaj Finserv Ltd BAJAJFINSV | — | ₹4.3 L Cr | Jun 2026 |
| Bajaj Holdings & Investment Ltd BAJAJHLDNG | — | ₹10 Cr | Jun 2026 |
| Max Financial Services Ltd MFSL | — | ₹1.9K Cr | Mar 2026 |
| Godrej Industries Ltd GODREJIND | — | ₹51.6K Cr | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | — | ₹1 Cr | Mar 2026 |
| TVS Holdings Ltd TVSHLTD | — | ₹36.2K Cr | Jun 2026 |
| Cholamandalam Financial Holdings Ltd CHOLAHLDNG | — | ₹2.1 L Cr | Mar 2026 |
| Maharashtra Scooters Ltd MAHSCOOTER | — | ₹0 Cr | Jun 2026 |
| JSW Holdings Ltd JSWHL | — | ₹0 Cr | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | — | ₹5.1K Cr | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | — | ₹2.4K Cr | Mar 2026 |
| Rane Holdings Ltd RANEHOLDIN | — | ₹1.0K Cr | Mar 2026 |
| Kalyani Investment Company Ltd KICL | — | ₹0 Cr | Mar 2026 |
| Alembic Ltd ALEMBICLTD | — | ₹11 Cr | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | — | ₹0 Cr | Mar 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | — | ₹0 Cr | Mar 2026 |
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | — | ₹23 Cr | Mar 2026 |
| Max India Ltd MAXIND⚠ unverified | — | ₹96 Cr | Mar 2026 |
Full 20-quarter history · every available company
No consistent historical series is available for deposits.
Borrowings · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Finserv Ltd · BAJAJFINSV
—
—
₹1.6 L Cr
—
—
—
₹2.1 L Cr
—
—
—
₹2.9 L Cr
—
—
—
₹3.6 L Cr
—
₹3.9 L Cr
—
₹4.3 L Cr
—
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
—
—
₹114 Cr
—
—
—
₹93 Cr
—
—
—
₹63 Cr
—
—
—
₹31 Cr
—
₹15 Cr
—
₹10 Cr
—
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
₹69.2K Cr
—
—
—
₹97.2K Cr
—
—
—
₹1.3 L Cr
—
—
—
₹1.7 L Cr
—
₹1.9 L Cr
—
₹2.1 L Cr
—
Godrej Industries Ltd · GODREJIND
—
—
₹14.5K Cr
—
—
—
₹19.6K Cr
—
—
—
₹29.0K Cr
—
—
—
₹38.1K Cr
—
₹46.6K Cr
—
₹51.6K Cr
—
JSW Holdings Ltd · JSWHL
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
Kama Holdings Ltd · KAMAHOLD
₹3.4K Cr
₹3.4K Cr
₹3.7K Cr
₹3.7K Cr
₹3.8K Cr
₹3.8K Cr
₹4.5K Cr
₹4.5K Cr
₹5.0K Cr
₹5.0K Cr
₹5.0K Cr
₹5.0K Cr
₹5.2K Cr
₹5.2K Cr
₹4.7K Cr
₹4.7K Cr
₹4.6K Cr
₹4.6K Cr
₹5.1K Cr
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
Max Financial Services Ltd · MFSL
₹756 Cr
₹756 Cr
₹522 Cr
₹768 Cr
₹801 Cr
₹801 Cr
₹523 Cr
₹821 Cr
₹809 Cr
₹809 Cr
₹523 Cr
₹836 Cr
₹860 Cr
₹860 Cr
₹1.0K Cr
₹1.4K Cr
₹1.8K Cr
₹2.3K Cr
₹1.9K Cr
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
₹778 Cr
₹778 Cr
₹1.1K Cr
₹1.1K Cr
₹995 Cr
₹995 Cr
₹736 Cr
₹736 Cr
₹776 Cr
₹776 Cr
₹949 Cr
₹949 Cr
₹975 Cr
₹975 Cr
₹1.9K Cr
₹1.9K Cr
₹2.2K Cr
₹2.2K Cr
₹2.4K Cr
—
Rane Holdings Ltd · RANEHOLDIN
—
—
₹788 Cr
—
—
—
₹866 Cr
—
—
—
₹853 Cr
—
—
—
₹1.1K Cr
—
₹1.1K Cr
—
₹1.0K Cr
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
₹0 Cr
₹2 Cr
—
—
₹240 Cr
₹242 Cr
₹129 Cr
₹129 Cr
₹0 Cr
₹0 Cr
—
—
₹0 Cr
₹2 Cr
₹0 Cr
—
₹1 Cr
—
TVS Holdings Ltd · TVSHLTD
—
—
₹16.6K Cr
—
—
—
₹25.0K Cr
—
—
—
₹26.2K Cr
—
—
—
₹32.5K Cr
—
₹34.5K Cr
—
₹36.2K Cr
—
09 · compare level, then change
Return On Assets
Jindal Poly Investment & Finance Company Ltd has the highest ROA among the 18 Finance - Holding Company companies compared here, at 47.9%. Alembic Ltd is next at 12.2%. The same company also holds the highest ROA change, at +29 percentage points. 14 of 18 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Jindal Poly Investment & Finance Company Ltd leads both roa at 47.9% and roa change at +29 percentage points.
LeaderJindal Poly Investment & Finance Company Ltd · 47.9%
Gap292.6% versus #2 · Alembic Ltd
Persistence2/4 recent comparable periods
Coverage14/18 companies · 91 observations
Investor read: Jindal Poly Investment & Finance Company Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roa change signal.
ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
ROA changefastest improvers
Return on assets · company comparison
14/18 level · 11/18 change
Withheld from this chart: Bajaj Finserv Ltd (BAJAJFINSV) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Bajaj Holdings & Investment Ltd (BAJAJHLDNG) — its two data sources disagree by up to 25% on reported income across 14 comparable periods, so its derived ratios are withheld; Godrej Industries Ltd (GODREJIND) — its two data sources disagree by up to 28% on reported income across 14 comparable periods, so its derived ratios are withheld; TVS Holdings Ltd (TVSHLTD) — its two data sources disagree by up to 58% on reported income across 13 comparable periods, so its derived ratios are withheld; Cholamandalam Financial Holdings Ltd (CHOLAHLDNG) — its two data sources disagree by up to 58% on reported income across 14 comparable periods, so its derived ratios are withheld; Maharashtra Scooters Ltd (MAHSCOOTER) — its two data sources disagree by up to 9.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Rane Holdings Ltd (RANEHOLDIN) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
| Company | ROA | ROA change | Reported |
|---|---|---|---|
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | 48% | +29.0 pp | Mar 2026 |
| Alembic Ltd ALEMBICLTD | 12% | −0.2 pp | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | 7.3% | +1.7 pp | Mar 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | 5.8% | −1.5 pp | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | 1.3% | +0.4 pp | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | 1.3% | −0.1 pp | Mar 2026 |
| JSW Holdings Ltd JSWHL | 0.4% | −0.2 pp | Mar 2026 |
| Kalyani Investment Company Ltd KICL | 0.3% | −0.5 pp | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | 0.2% | −0.3 pp | Mar 2026 |
| Max Financial Services Ltd MFSL | 0.1% | −0.1 pp | Mar 2026 |
| Max India Ltd MAXIND⚠ unverified | -18% | +4.1 pp | Mar 2026 |
Full 20-quarter history · every available company
ROA · reported quarter history
Alembic Ltd · ALEMBICLTD
—
—
8.4%
—
5.8%
—
8.6%
—
10%
—
12%
—
13%
—
12%
—
12%
—
12%
—
Elcid Investments Ltd · ELCIDIN
—
—
0.8%
—
0.5%
—
0.6%
—
1.0%
—
1.4%
—
1.6%
—
1.4%
—
0.7%
1.0%
1.3%
—
Jindal Poly Investment & Finance Company Ltd · JPOLYINVST⚠ unverified
—
—
—
—
—
—
—
—
17%
—
11%
—
14%
—
19%
—
13%
—
48%
—
JSW Holdings Ltd · JSWHL
—
—
0.7%
—
1.4%
—
1.5%
—
0.6%
—
0.5%
—
0.6%
—
0.6%
—
0.3%
—
0.4%
—
Kalyani Investment Company Ltd · KICL
—
—
1.0%
—
1.0%
—
1.0%
—
0.7%
—
0.8%
—
0.7%
—
0.8%
—
0.5%
—
0.3%
—
Kama Holdings Ltd · KAMAHOLD
—
—
12%
—
13%
—
12%
—
8.6%
—
7.2%
—
6.0%
—
5.6%
—
7.0%
—
7.3%
—
Max Financial Services Ltd · MFSL
—
—
0.3%
—
0.3%
—
0.3%
—
0.4%
—
0.2%
—
0.2%
—
0.2%
—
0.1%
—
0.1%
—
Max India Ltd · MAXIND⚠ unverified
—
—
—
—
—
—
—
—
-2.9%
—
-8.3%
—
-14%
—
-22%
—
-18%
—
-18%
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
—
—
1.6%
—
1.8%
—
2.0%
—
1.4%
—
1.0%
—
1.0%
—
0.5%
—
0.1%
—
0.2%
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
1.0%
—
1.2%
—
1.2%
—
1.3%
—
1.2%
—
0.9%
—
0.9%
—
1.0%
—
1.3%
—
Vardhman Holdings Ltd · VHL⚠ unverified
—
—
—
—
—
—
—
—
5.6%
—
5.6%
—
5.7%
—
7.3%
—
6.5%
—
5.8%
—
ROA change · reported quarter history
Alembic Ltd · ALEMBICLTD
—
—
—
—
—
—
+0.2 pp
—
+4.3 pp
—
+2.9 pp
—
+2.6 pp
—
+0.9 pp
—
−0.9 pp
—
−0.2 pp
—
Elcid Investments Ltd · ELCIDIN
—
—
—
—
—
—
−0.2 pp
—
+0.5 pp
—
+0.8 pp
—
+0.6 pp
—
0.0 pp
—
−0.9 pp
—
−0.1 pp
—
Jindal Poly Investment & Finance Company Ltd · JPOLYINVST⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
−2.9 pp
—
+8.1 pp
—
−0.8 pp
—
+29.0 pp
—
JSW Holdings Ltd · JSWHL
—
—
—
—
—
—
+0.8 pp
—
−0.8 pp
—
−1.0 pp
—
0.0 pp
—
+0.1 pp
—
−0.3 pp
—
−0.2 pp
—
Kalyani Investment Company Ltd · KICL
—
—
—
—
—
—
0.0 pp
—
−0.3 pp
—
−0.2 pp
—
0.0 pp
—
0.0 pp
—
−0.2 pp
—
−0.5 pp
—
Kama Holdings Ltd · KAMAHOLD
—
—
—
—
—
—
+0.4 pp
—
−4.7 pp
—
−4.9 pp
—
−2.6 pp
—
−1.6 pp
—
+1.0 pp
—
+1.7 pp
—
Max Financial Services Ltd · MFSL
—
—
—
—
—
—
0.0 pp
—
+0.1 pp
—
−0.1 pp
—
−0.2 pp
—
0.0 pp
—
−0.1 pp
—
−0.1 pp
—
Max India Ltd · MAXIND⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
−10.8 pp
—
−14.0 pp
—
−4.3 pp
—
+4.1 pp
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
—
—
—
—
—
—
+0.4 pp
—
−0.4 pp
—
−1.0 pp
—
−0.4 pp
—
−0.5 pp
—
−0.9 pp
—
−0.3 pp
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
—
—
—
—
+0.2 pp
—
+0.1 pp
—
0.0 pp
—
−0.4 pp
—
−0.3 pp
—
+0.1 pp
—
+0.4 pp
—
Vardhman Holdings Ltd · VHL⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
+0.1 pp
—
+1.7 pp
—
+0.8 pp
—
−1.5 pp
—
10 · compare level, then change
ROE — Leaders & Improvers
Jindal Poly Investment & Finance Company Ltd has the highest ROE among the 18 Finance - Holding Company companies compared here, at 54.8%. TVS Holdings Ltd is next at 30.6%. The same company also holds the highest ROE change, at +166.7 percentage points. 18 of 18 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Jindal Poly Investment & Finance Company Ltd leads both roe at 54.8% and roe change at +166.7 percentage points.
LeaderJindal Poly Investment & Finance Company Ltd · 54.8%
Gap79.1% versus #2 · TVS Holdings Ltd
Persistence4/8 recent comparable periods
Coverage18/18 companies · 207 observations
Investor read: Jindal Poly Investment & Finance Company Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roe change signal.
ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
ROE changefastest improvers
Return on equity · company comparison
18/18 level · 12/18 change
Withheld from this chart: Bajaj Finserv Ltd (BAJAJFINSV) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Bajaj Holdings & Investment Ltd (BAJAJHLDNG) — its two data sources disagree by up to 25% on reported income across 14 comparable periods, so its derived ratios are withheld; Godrej Industries Ltd (GODREJIND) — its two data sources disagree by up to 28% on reported income across 14 comparable periods, so its derived ratios are withheld; TVS Holdings Ltd (TVSHLTD) — its two data sources disagree by up to 58% on reported income across 13 comparable periods, so its derived ratios are withheld; Cholamandalam Financial Holdings Ltd (CHOLAHLDNG) — its two data sources disagree by up to 58% on reported income across 14 comparable periods, so its derived ratios are withheld; Maharashtra Scooters Ltd (MAHSCOOTER) — its two data sources disagree by up to 9.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Rane Holdings Ltd (RANEHOLDIN) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
| Company | ROE | ROE change | Reported |
|---|---|---|---|
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | 172% | +166.7 pp | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | 12% | +3.8 pp | Mar 2026 |
| Alembic Ltd ALEMBICLTD | 9.5% | −2.1 pp | Mar 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | 5.8% | −1.7 pp | Mar 2026 |
| Max Financial Services Ltd MFSL | 2.8% | −1.7 pp | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | 1.9% | +2.1 pp | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | 0.9% | +0.7 pp | Mar 2026 |
| JSW Holdings Ltd JSWHL | 0.4% | +0.2 pp | Mar 2026 |
| Kalyani Investment Company Ltd KICL | 0.1% | 0.0 pp | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | -0.3% | −0.6 pp | Mar 2026 |
| Max India Ltd MAXIND⚠ unverified | -37% | +3.4 pp | Mar 2026 |
Full 20-quarter history · every available company
ROE · reported quarter history
Alembic Ltd · ALEMBICLTD
8.5%
20%
8.4%
0.1%
-3.0%
19%
7.6%
8.6%
8.5%
17%
12%
13%
10%
22%
12%
12%
11%
21%
9.5%
—
Elcid Investments Ltd · ELCIDIN
2.6%
0.6%
0.5%
0.1%
1.0%
0.7%
0.6%
0.0%
3.5%
1.2%
1.4%
0.5%
4.7%
1.4%
-0.2%
-0.7%
3.1%
1.4%
1.9%
—
Jindal Poly Investment & Finance Company Ltd · JPOLYINVST⚠ unverified
—
123%
1.7%
19%
11%
4.9%
9.4%
27%
7.0%
9.1%
17%
15%
8.4%
21%
4.9%
13%
17%
15%
172%
—
JSW Holdings Ltd · JSWHL
0.5%
—
0.8%
0.7%
0.1%
5.4%
0.7%
0.9%
0.5%
1.2%
0.6%
0.5%
0.8%
1.6%
0.2%
0.1%
0.4%
0.8%
0.4%
—
Kalyani Investment Company Ltd · KICL
1.1%
1.6%
1.3%
0.4%
0.0%
2.5%
1.2%
0.7%
0.3%
1.8%
0.3%
1.4%
0.2%
1.6%
0.1%
1.1%
-0.1%
0.9%
0.1%
—
Kama Holdings Ltd · KAMAHOLD
22%
21%
26%
29%
27%
27%
22%
22%
13%
11%
8.9%
21%
8.2%
6.5%
8.4%
16%
13%
11%
12%
—
Max Financial Services Ltd · MFSL
4.0%
4.9%
8.6%
13%
6.1%
5.5%
24%
5.0%
10%
17%
16%
10%
14%
11%
4.5%
2.5%
5.4%
0.4%
2.8%
—
Max India Ltd · MAXIND⚠ unverified
-6.3%
-0.3%
-3.5%
0.2%
-2.9%
-1.5%
-0.6%
-2.0%
-9.0%
-3.5%
-14%
-17%
-22%
-19%
-40%
-46%
-29%
-33%
-37%
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
1.4%
3.0%
1.2%
2.0%
1.6%
3.3%
1.4%
2.8%
0.9%
1.8%
1.8%
0.9%
0.9%
2.0%
0.3%
-0.6%
-0.1%
1.1%
-0.3%
—
Tata Investment Corporation Ltd · TATAINVEST
1.5%
2.5%
0.9%
0.4%
1.8%
2.1%
0.7%
0.4%
3.0%
2.3%
0.9%
0.9%
1.8%
1.5%
0.2%
0.4%
1.9%
1.9%
0.9%
—
Vardhman Holdings Ltd · VHL⚠ unverified
16%
23%
17%
14%
14%
8.5%
4.5%
5.4%
5.7%
7.9%
6.7%
3.1%
8.9%
5.8%
7.5%
7.9%
7.1%
5.1%
5.8%
—
ROE change · reported quarter history
Alembic Ltd · ALEMBICLTD
—
—
—
—
−11.5 pp
−1.3 pp
−0.8 pp
+8.5 pp
+11.5 pp
−1.5 pp
+4.0 pp
+4.8 pp
+1.7 pp
+4.5 pp
0.0 pp
−1.5 pp
+0.3 pp
−0.7 pp
−2.1 pp
—
Elcid Investments Ltd · ELCIDIN
—
—
—
—
−1.6 pp
+0.1 pp
+0.1 pp
−0.1 pp
+2.5 pp
+0.5 pp
+0.8 pp
+0.5 pp
+1.2 pp
+0.2 pp
−1.6 pp
−1.2 pp
−1.6 pp
0.0 pp
+2.1 pp
—
Jindal Poly Investment & Finance Company Ltd · JPOLYINVST⚠ unverified
—
—
—
—
—
−117.6 pp
+7.7 pp
+7.3 pp
−3.6 pp
+4.2 pp
+7.1 pp
−11.2 pp
+1.4 pp
+11.6 pp
−11.6 pp
−2.9 pp
+8.1 pp
−6.1 pp
+166.7 pp
—
JSW Holdings Ltd · JSWHL
—
—
—
—
−0.4 pp
—
−0.1 pp
+0.2 pp
+0.4 pp
−4.2 pp
−0.1 pp
−0.4 pp
+0.3 pp
+0.4 pp
−0.4 pp
−0.4 pp
−0.4 pp
−0.8 pp
+0.2 pp
—
Kalyani Investment Company Ltd · KICL
—
—
—
—
−1.1 pp
+0.9 pp
−0.1 pp
+0.3 pp
+0.3 pp
−0.7 pp
−0.9 pp
+0.7 pp
−0.1 pp
−0.2 pp
−0.2 pp
−0.3 pp
−0.3 pp
−0.7 pp
0.0 pp
—
Kama Holdings Ltd · KAMAHOLD
—
—
—
—
+5.2 pp
+6.3 pp
−4.2 pp
−6.8 pp
−14.0 pp
−16.0 pp
−12.7 pp
−1.0 pp
−5.2 pp
−4.3 pp
−0.5 pp
−5.1 pp
+4.7 pp
+4.7 pp
+3.8 pp
—
Max Financial Services Ltd · MFSL
—
—
—
—
+2.1 pp
+0.6 pp
+15.4 pp
−8.2 pp
+4.1 pp
+11.1 pp
−7.8 pp
+5.2 pp
+4.1 pp
−6.1 pp
−11.7 pp
−7.7 pp
−8.9 pp
−10.1 pp
−1.7 pp
—
Max India Ltd · MAXIND⚠ unverified
—
—
—
—
+3.4 pp
−1.2 pp
+2.9 pp
−2.2 pp
−6.1 pp
−2.0 pp
−12.9 pp
−14.9 pp
−12.9 pp
−15.9 pp
−26.6 pp
−29.0 pp
−6.7 pp
−13.6 pp
+3.4 pp
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
—
—
—
—
+0.2 pp
+0.3 pp
+0.2 pp
+0.8 pp
−0.7 pp
−1.5 pp
+0.4 pp
−1.9 pp
0.0 pp
+0.2 pp
−1.5 pp
−1.5 pp
−1.0 pp
−0.9 pp
−0.6 pp
—
Tata Investment Corporation Ltd · TATAINVEST
—
—
—
—
+0.3 pp
−0.4 pp
−0.2 pp
0.0 pp
+1.2 pp
+0.2 pp
+0.2 pp
+0.5 pp
−1.2 pp
−0.8 pp
−0.7 pp
−0.5 pp
+0.1 pp
+0.4 pp
+0.7 pp
—
Vardhman Holdings Ltd · VHL⚠ unverified
—
—
—
—
−2.0 pp
−14.0 pp
−12.4 pp
−8.6 pp
−7.8 pp
−0.6 pp
+2.2 pp
−2.3 pp
+3.2 pp
−2.1 pp
+0.8 pp
+4.8 pp
−1.8 pp
−0.7 pp
−1.7 pp
—
11 · not available
Gross NPA — Leaders & Improvers
No company in this Finance - Holding Company comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 18 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.
Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
Withheld from this comparison: Bajaj Finserv Ltd (BAJAJFINSV) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Bajaj Holdings & Investment Ltd (BAJAJHLDNG) — its two data sources disagree by up to 25% on reported income across 14 comparable periods, so its derived ratios are withheld; Godrej Industries Ltd (GODREJIND) — its two data sources disagree by up to 28% on reported income across 14 comparable periods, so its derived ratios are withheld; TVS Holdings Ltd (TVSHLTD) — its two data sources disagree by up to 58% on reported income across 13 comparable periods, so its derived ratios are withheld; Cholamandalam Financial Holdings Ltd (CHOLAHLDNG) — its two data sources disagree by up to 58% on reported income across 14 comparable periods, so its derived ratios are withheld; Maharashtra Scooters Ltd (MAHSCOOTER) — its two data sources disagree by up to 9.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Rane Holdings Ltd (RANEHOLDIN) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
12 · compare level, then change
Valuation Against Growth & Quality
Jindal Poly Investment & Finance Company Ltd has the lowest P/BV ÷ ROE among the 18 Finance - Holding Company companies compared here, at 0.01×. Vardhman Holdings Ltd is next at 0.05×. Kalyani Investment Company Ltd has the lowest P/BV at 0.21×, so level and change sit with different companies.
What the numbers say: Jindal Poly Investment & Finance Company Ltd has the lowest comparable P/BV ÷ ROE at 0.01×, 80% below Vardhman Holdings Ltd. Only 17 of 18 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderJindal Poly Investment & Finance Company Ltd · 0.01×
Gap80% versus #2 · Vardhman Holdings Ltd
Persistence0/8 recent comparable periods
Coverage17/18 companies · 167 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
P/BVlowest P/BV
Valuation · company comparison
17/18 level · 18/18 change
All-company data · latest reported quarter
| Company | P/BV ÷ ROE | P/BV | Reported |
|---|---|---|---|
| Max Financial Services Ltd MFSL | 3.6 | 10.1 | Mar 2026 |
| Max India Ltd MAXIND⚠ unverified | 3.0 | 1.5 | Mar 2026 |
| Kalyani Investment Company Ltd KICL | 2.0 | 0.2 | Mar 2026 |
| Tata Investment Corporation Ltd TATAINVEST | 1.0 | 0.9 | Mar 2026 |
| JSW Holdings Ltd JSWHL | 1.0 | 0.4 | Mar 2026 |
| Pilani Investment & Industries Corporation Ltd PILANIINVS | 0.3 | 0.3 | Mar 2026 |
| Elcid Investments Ltd ELCIDIN | 0.1 | 0.2 | Mar 2026 |
| Kama Holdings Ltd KAMAHOLD | 0.1 | 1.0 | Mar 2026 |
| Alembic Ltd ALEMBICLTD | 0.1 | 0.8 | Mar 2026 |
| Vardhman Holdings Ltd VHL⚠ unverified | 0.1 | 0.3 | Mar 2026 |
| Jindal Poly Investment & Finance Company Ltd JPOLYINVST⚠ unverified | 0.0 | 0.7 | Mar 2026 |
| Bajaj Finserv Ltd BAJAJFINSV | — | 3.9 | Jun 2026 |
| Bajaj Holdings & Investment Ltd BAJAJHLDNG | — | 1.9 | Jun 2026 |
| Godrej Industries Ltd GODREJIND | — | 2.5 | Mar 2026 |
| TVS Holdings Ltd TVSHLTD | — | 5.8 | Jun 2026 |
| Cholamandalam Financial Holdings Ltd CHOLAHLDNG | — | 1.9 | Mar 2026 |
| Maharashtra Scooters Ltd MAHSCOOTER | — | 0.5 | Jun 2026 |
| Rane Holdings Ltd RANEHOLDIN | — | 1.3 | Mar 2026 |
Full 20-quarter history · every available company
P/BV ÷ ROE · reported quarter history
Alembic Ltd · ALEMBICLTD
0.2
0.1
0.1
7.0
—
0.0
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.1
—
Elcid Investments Ltd · ELCIDIN
—
—
—
—
—
—
—
—
—
—
—
—
—
0.2
—
—
0.1
0.2
0.1
—
Jindal Poly Investment & Finance Company Ltd · JPOLYINVST⚠ unverified
—
0.0
0.1
—
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.1
0.0
—
JSW Holdings Ltd · JSWHL
0.8
—
0.3
0.4
3.0
0.1
0.3
0.3
0.6
0.2
0.5
0.8
0.5
0.3
4.0
10.0
1.5
0.8
1.0
—
Kalyani Investment Company Ltd · KICL
0.2
0.1
0.1
0.3
—
0.0
0.1
0.1
0.7
0.1
0.7
0.4
1.5
0.1
2.0
0.3
—
0.2
2.0
—
Kama Holdings Ltd · KAMAHOLD
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.1
0.2
0.2
0.1
0.1
0.1
0.1
0.1
—
Max Financial Services Ltd · MFSL
2.7
1.8
0.8
0.6
1.1
1.1
0.2
1.4
0.9
0.5
0.6
0.9
0.7
0.7
1.7
5.9
1.9
27.3
3.6
—
Max India Ltd · MAXIND⚠ unverified
—
—
—
3.0
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.2
0.2
0.2
0.6
0.4
0.2
0.7
—
—
0.3
—
—
Tata Investment Corporation Ltd · TATAINVEST
0.3
0.2
0.4
0.8
0.3
0.2
0.7
1.5
0.3
0.4
1.4
1.2
0.7
0.6
4.5
2.8
0.7
0.6
1.0
—
Vardhman Holdings Ltd · VHL⚠ unverified
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.0
0.0
0.1
0.0
0.1
0.0
0.1
0.0
0.1
0.1
—
P/BV · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Bajaj Finserv Ltd · BAJAJFINSV
—
—
6.9
—
—
5.8
5.0
6.0
5.3
5.3
5.2
4.2
5.3
3.7
4.7
5.4
4.4
4.2
3.5
3.9
Bajaj Holdings & Investment Ltd · BAJAJHLDNG
—
—
1.3
—
—
1.5
1.5
1.8
1.8
1.8
1.9
1.8
2.2
2.1
2.3
2.9
2.2
1.8
1.5
1.9
Cholamandalam Financial Holdings Ltd · CHOLAHLDNG
—
—
2.0
—
—
1.5
1.6
2.6
2.8
2.3
2.5
3.6
3.7
2.3
2.9
3.8
2.8
2.5
1.9
—
Godrej Industries Ltd · GODREJIND
—
—
2.4
—
—
2.0
1.9
2.5
2.4
3.0
3.2
3.6
5.2
4.5
4.5
5.2
4.0
3.3
2.5
—
JSW Holdings Ltd · JSWHL
0.4
0.2
0.2
0.3
0.3
0.3
0.2
0.3
0.3
0.2
0.3
0.4
0.4
0.5
0.8
1.0
0.6
0.6
0.4
—
Kama Holdings Ltd · KAMAHOLD
1.8
1.7
1.6
1.7
1.6
1.6
1.7
1.7
1.7
1.5
1.4
1.6
1.3
1.1
1.2
1.4
1.3
1.2
1.0
—
Maharashtra Scooters Ltd · MAHSCOOTER
—
—
0.2
—
—
0.2
0.2
0.3
0.5
0.3
0.3
0.4
0.5
0.4
0.4
0.6
0.7
0.5
0.4
0.5
Max Financial Services Ltd · MFSL
10.8
9.0
6.8
8.4
6.7
6.0
5.6
7.1
8.9
8.8
9.2
9.5
10.6
7.4
7.7
14.7
10.1
10.9
10.1
—
Pilani Investment & Industries Corporation Ltd · PILANIINVS
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.3
0.3
0.5
0.4
0.3
0.2
0.4
0.4
0.3
0.3
—
Rane Holdings Ltd · RANEHOLDIN
—
—
1.1
—
—
1.6
1.6
2.1
2.1
2.2
1.8
2.4
3.2
2.4
1.7
2.5
2.1
1.7
1.3
—
Tata Investment Corporation Ltd · TATAINVEST
0.5
0.4
0.4
0.3
0.6
0.5
0.5
0.6
0.8
0.9
1.3
1.1
1.2
0.9
0.9
1.1
1.4
1.1
0.9
—
TVS Holdings Ltd · TVSHLTD
—
—
1.4
—
—
1.5
1.2
1.5
3.4
6.5
6.9
8.2
9.9
6.6
5.2
7.8
5.5
5.2
5.1
5.8
13 · before the conclusion, check the blind spots
What can make this comparison misleading?
This Finance - Holding Company comparison names 8 specific ways its own evidence can mislead, all listed below. All 18 companies here report on comparable dates, so no rank carries a stale marker. 3 draw at least one figure from a second feed with too little overlap to cross-check. 7 have second-feed figures withheld because the two sources disagree.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- 3 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 7 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.
14 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 18 Finance - Holding Company companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing8 cross-checked · 3 unverified · 7 withheld, of 18 graded companies.
How a second data feed is admitted, and what happens when it disagrees
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.
15 · questions investors ask, short speakable answers
Finance - Holding Company company comparison FAQs
These 23 answers restate the Finance - Holding Company comparison above in question form. Every one is computed from the same 18 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.
Is the Finance - Holding Company sector outperforming NIFTY 500?
Finance - Holding Company has underperformed NIFTY 500 by 4.7% over 52 weeks and 4.3% over 13 weeks. 5 of 18 covered companies beat NIFTY on Mansfield relative strength, while 6 of 18 beat the sector itself.
Which Finance - Holding Company company is largest by income?
Bajaj Finserv Ltd leads with income of ₹1,57,642 crore, based on 18 of 18 comparable companies through Jun 2026.
Which Finance - Holding Company company is growing fastest?
Jindal Poly Investment & Finance Company Ltd has the fastest current income growth at 100%, across 18 of 18 comparable companies.
Which Finance - Holding Company company has the strongest 4-Factor Sector Score?
Jindal Poly Investment & Finance Company Ltd ranks first at 79.8/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Finance - Holding Company company has the lowest comparable P/BV-to-ROE?
Jindal Poly Investment & Finance Company Ltd has the lowest comparable P/BV ÷ ROE at 0.01, among 17 of 18 companies whose earnings and growth are steady enough for the ratio to mean anything.
How much history does this Finance - Holding Company comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
What is the Nifty Finance - Holding Company index?
The Nifty Finance - Holding Company index tracks India's listed Finance - Holding Company companies as a single basket. This page follows the same 18 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Finance - Holding Company sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Finance - Holding Company stocks in India?
Ranked by this page's four-factor score, Jindal Poly Investment & Finance Company Ltd places first among 18 listed Finance - Holding Company companies, followed by Kama Holdings Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Finance - Holding Company stocks are listed in India?
This comparison covers 18 listed Finance - Holding Company companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Finance - Holding Company company is the biggest?
Bajaj Finserv Ltd is the largest, with trailing-twelve-month income of ₹1,57,642 crore, ahead of TVS Holdings Ltd at ₹62,489 crore. That covers 18 of 18 companies with comparable reporting through Jun 2026.
Which Finance - Holding Company company makes the most profit?
Bajaj Finserv Ltd earns the most, at ₹20,637 crore of trailing-twelve-month net profit, from 18 of 18 comparable companies. Jindal Poly Investment & Finance Company Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Finance - Holding Company company earns the highest return on capital?
Jindal Poly Investment & Finance Company Ltd leads on return on assets at 47.9%, across 14 of 18 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Finance - Holding Company stock is the cheapest?
On price-to-book divided by return on equity — where a LOWER number is cheaper — Jindal Poly Investment & Finance Company Ltd screens cheapest at 0.01×. Only 17 of 18 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Is the Finance - Holding Company sector beating the market?
Finance - Holding Company has underperformed NIFTY 500 by 4.7% over the last 52 weeks and 4.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 5 of 18 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Finance - Holding Company stock has the strongest price momentum?
Rane Holdings Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Finance - Holding Company company scores highest for research priority?
Jindal Poly Investment & Finance Company Ltd scores 79.8 out of 100 with 76% evidence confidence, from 30 points on growth and earnings, 20.7 on capital efficiency, 14.5 on valuation and 14.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Finance - Holding Company companies does this comparison cover, and over what period?
It compares 18 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Finance - Holding Company sector?
The 18 Finance - Holding Company companies on this page carry ₹6,92,781 crore of combined market value. Bajaj Finserv Ltd is the largest at ₹3,24,768 crore, about 47% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.
What is the Finance - Holding Company sector's P/B ratio?
The median price-to-book ratio across the 18 Finance - Holding Company companies on this page is 1.2×, measured on the 18 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.
How is the Finance - Holding Company sector performing?
5 of the 18 covered Finance - Holding Company companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 4.7% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.