Bajaj Finance Limited has announced a board meeting scheduled for April 29, 2026, to deliberate on crucial financial matters for the fourth quarter and full financial year ended March 31, 2026. The meeting represents a significant milestone as the company prepares to unveil its annual performance metrics and consider shareholder returns.

Board Meeting Agenda

The Board of Directors will convene to address two primary agenda items during the April 29, 2026 meeting:

Trading Window Restrictions

In adherence to regulatory compliance, Bajaj Finance has implemented mandatory trading restrictions to prevent insider trading activities. The company has established a comprehensive trading window closure framework:

Regulatory Compliance

The board meeting announcement follows strict adherence to market regulations under Regulation 29(1)(a) read with Regulation 50(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory framework ensures transparency and timely disclosure of material information to stakeholders and market participants.

The company has formally communicated this development to both BSE Limited and National Stock Exchange of India Limited, maintaining its commitment to regulatory compliance and transparent corporate governance practices. The notification was signed by R. Vijay, Company Secretary, and digitally authenticated on April 6, 2026.

Bajaj Finance faces growth headwinds according to Macquarie's latest research report, which maintains an Underperform rating on the non-banking financial company with a target price of ₹860. The brokerage firm has raised several concerns about the company's ability to maintain its historically strong growth momentum.

Growth Trajectory Concerns

Macquarie's analysis reveals significant challenges in Bajaj Finance's projected growth path. The brokerage expects the company's Assets Under Management (AUM) to grow by 22% in FY26, marking the slowest expansion rate in 15 years when excluding the pandemic-affected FY21 period.

Operational Challenges

The research highlights two primary operational concerns that could impact Bajaj Finance's performance. First, the company faces increasing difficulty in sustaining high growth rates while maintaining a Return on Assets (ROA) above 4% as its scale continues to expand. This challenge reflects the natural constraints that large financial institutions encounter as they grow.

Second, Macquarie points to a deteriorating deposit mix, which has declined to approximately 16%. This weakening deposit composition could potentially impact the company's funding cost structure and overall profitability metrics.

Potential Upside Risks

Despite the cautious outlook, Macquarie acknowledges several factors that could lead to better-than-expected performance. The brokerage identifies stronger loan growth as a key upside risk that could positively surprise investors. Additionally, potential margin improvements represent another avenue for outperformance that could challenge the current bearish thesis.

Investment Implications

The Underperform rating with a ₹860 target price reflects Macquarie's view that Bajaj Finance may face structural headwinds in maintaining its growth trajectory. The combination of slowing AUM growth, scaling challenges, and deposit mix deterioration presents a complex operating environment for the financial services company.