Bajaj Auto Ltd

₹ 8,847 1.11%

09 May - close price

bajajauto.com BSE: 532977 NSE : BAJAJ-AUTO

About

Bajaj Auto, the flagship company of Bajaj Group, is a two-wheeler and three-wheeler manufacturing company that exports to 79 countries across several countries in Latin America, Southeast Asia, and many more. Its headquarter is in Pune, India.
It has acquired 48% of the KTM Brand which manufactures sports and super sports two-wheelers, which was 14% in 2007 when the company first acquired KTM. ^[1]

Key Points

Brand Reputation
It is the world's fourth-largest manufacturer of motorcycles. It is also the largest manufacturer and seller of 3-wheelers globally. ^[1] ^[2]

Segment Performance
Mileage Segment (100cc to 125cc)- This segment consists of products like Bajaj CT, the Platina, and the Pulsar 125. It accounts for by far the highest unit-wise sale of motorcycles in India. In FY22, the market share in this segment improved from 15.2% in FY21 to 17%. ^[3]

Website BSE NSE

Market Cap ₹ 2,46,986 Cr.
Current Price ₹ 8,847
High / Low ₹ 9,358 / 4,450
Stock P/E 33.0
Book Value ₹ 890
Dividend Yield 0.90 %
ROCE 38.4 %
ROE 29.7 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 60.3%

Cons

Stock is trading at 9.93 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Automobile Industry: Automobiles - Scooters And 3 - Wheelers

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	8,596	7,386	8,762	9,022	7,975	8,005	10,203	9,315	8,905	10,310	10,777	12,114	11,485
	7,072	6,266	7,361	7,650	6,609	6,708	8,444	7,538	7,188	8,356	8,644	9,684	9,178
Operating Profit	1,524	1,120	1,401	1,372	1,366	1,297	1,759	1,777	1,717	1,954	2,133	2,430	2,306
OPM %	18%	15%	16%	15%	17%	16%	17%	19%	19%	19%	20%	20%	20%
	284	329	318	273	604	319	333	269	260	346	361	346	349
Interest	2	2	2	2	3	4	11	8	16	12	7	12	23
Depreciation	66	64	66	70	70	67	67	74	74	84	88	88	91
Profit before tax	1,739	1,383	1,652	1,573	1,897	1,545	2,014	1,964	1,886	2,205	2,400	2,676	2,542
Tax %	23%	23%	23%	23%	23%	24%	24%	24%	24%	24%	24%	24%	24%
	1,332	1,061	1,275	1,214	1,469	1,173	1,530	1,491	1,433	1,665	1,836	2,042	1,936
EPS in Rs	46.03	36.67	44.05	41.96	50.76	40.55	52.87	52.71	50.64	58.83	64.89	72.11	69.35
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	19,980	20,088	21,593	22,574	21,755	25,210	30,358	29,919	27,741	33,145	36,428	44,685
	16,335	15,974	17,461	17,780	17,323	20,362	25,157	24,809	22,800	27,877	29,864	35,862
Operating Profit	3,645	4,113	4,132	4,794	4,432	4,848	5,201	5,110	4,942	5,268	6,563	8,823
OPM %	18%	20%	19%	21%	20%	19%	17%	17%	18%	16%	18%	20%
	788	699	227	1,062	1,213	1,251	1,772	1,720	1,263	1,516	1,167	1,402
Interest	1	0	6	1	1	1	4	3	7	9	39	54
Depreciation	167	180	267	307	307	315	266	246	259	269	282	350
Profit before tax	4,266	4,632	4,085	5,547	5,336	5,783	6,703	6,580	5,939	6,505	7,409	9,822
Tax %	29%	30%	31%	29%	28%	30%	30%	22%	23%	23%	24%	24%
	3,044	3,243	2,814	3,930	3,828	4,068	4,675	5,100	4,555	5,019	5,628	7,479
EPS in Rs	105.18	112.08	97.24	135.80	132.27	140.59	161.57	176.25	157.40	173.44	198.89	267.88
Dividend Payout %	43%	45%	51%	40%	42%	43%	37%	68%	89%	81%	70%	30%

Compounded Sales Growth
10 Years:	8%
5 Years:	8%
3 Years:	17%
TTM:	23%

Compounded Profit Growth
10 Years:	9%
5 Years:	11%
3 Years:	18%
TTM:	35%

Stock Price CAGR
10 Years:	16%
5 Years:	24%
3 Years:	32%
1 Year:	94%

Return on Equity
10 Years:	24%
5 Years:	23%
3 Years:	23%
Last Year:	30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	289	289	289	289	289	289	289	289	289	289	283	279
Reserves	7,613	9,319	10,403	12,977	16,745	18,814	21,491	19,636	24,913	26,379	25,143	24,581
	88	59	112	118	120	121	125	126	121	123	124	960
	4,488	5,080	4,758	3,102	3,661	4,595	5,476	4,722	6,206	5,130	5,578	8,430
Total Liabilities	12,479	14,748	15,562	16,486	20,815	23,819	27,380	24,773	31,530	31,922	31,128	34,251
	1,804	2,006	1,917	2,026	2,002	1,878	1,764	1,699	1,665	1,834	2,716	3,202
CWIP	294	144	255	52	42	56	48	60	16	77	82	24
Investments	6,430	8,550	9,153	10,321	14,731	17,588	19,159	18,196	22,631	23,819	22,923	24,492
	3,950	4,048	4,237	4,088	4,039	4,296	6,409	4,818	7,218	6,192	5,406	6,532
Total Assets	12,479	14,748	15,562	16,486	20,815	23,819	27,380	24,773	31,530	31,922	31,128	34,251

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2,134	3,546	2,147	3,657	3,339	4,261	2,490	3,862	3,114	4,208	5,512	7,478
	-1,278	-2,141	-414	-30	-3,687	-1,894	-271	1,757	-2,867	-92	1,322	-139
	-1,479	-1,468	-1,644	-3,384	-190	-1,885	-2,074	-6,247	-20	-4,056	-7,179	-7,110
Net Cash Flow	-622	-64	89	242	-538	481	144	-628	228	59	-345	229

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	14	14	12	12	16	22	31	21	36	17	18	17
Inventory Days	16	17	20	17	18	16	16	18	28	18	20	20
Days Payable	50	56	43	49	56	68	63	56	85	55	57	65
Cash Conversion Cycle	-20	-24	-11	-20	-22	-31	-17	-16	-22	-19	-20	-28
Working Capital Days	-22	-34	-23	-4	-3	-21	-4	-9	-0	-3	-10	16
ROCE %	60%	52%	42%	46%	35%	32%	31%	31%	26%	24%	28%

Shareholding Pattern

Numbers in percentages

58 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	53.70%	53.70%	53.73%	53.77%	53.77%	54.84%	54.99%	54.99%	54.99%	54.99%	54.95%	55.06%
	11.82%	11.21%	10.20%	10.49%	11.16%	11.56%	11.82%	12.35%	13.67%	14.37%	14.64%	14.53%
	12.71%	12.85%	13.23%	13.17%	12.40%	11.53%	10.91%	10.79%	9.56%	9.03%	8.66%	8.47%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.08%
	21.77%	22.24%	22.84%	22.57%	22.68%	21.99%	22.20%	21.79%	21.72%	21.54%	21.67%	21.88%
No. of Shareholders	1,54,309	2,11,203	2,44,081	2,33,225	2,28,873	2,25,518	2,26,836	2,09,076	2,02,928	1,96,543	2,00,795	2,97,605

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	49.30%	49.30%	51.18%	53.66%	53.70%	53.77%	54.99%	55.06%
	17.44%	17.20%	15.64%	13.94%	11.99%	10.49%	12.35%	14.53%
	7.67%	8.51%	7.38%	8.76%	12.29%	13.17%	10.79%	8.47%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.08%
	25.59%	24.99%	25.80%	23.64%	22.02%	22.57%	21.79%	21.88%
No. of Shareholders	80,360	88,377	1,09,541	1,25,263	1,56,955	2,33,225	2,09,076	2,97,605

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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