Bajaj Auto Ltd

Bajaj Auto Ltd

₹ 8,804 -2.40%
19 Apr - close price
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]

  • Market Cap 2,45,804 Cr.
  • Current Price 8,804
  • High / Low 9,358 / 4,280
  • Stock P/E 31.9
  • Book Value 1,037
  • Dividend Yield 0.91 %
  • ROCE 33.5 %
  • ROE 26.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 53.4%

Cons

  • Stock is trading at 8.49 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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 9,319 8,929 10,312 10,838 12,165 11,555
7,074 6,268 7,362 7,650 6,614 6,719 8,453 7,561 7,272 8,380 8,708 9,750 9,271
Operating Profit 1,522 1,118 1,400 1,371 1,361 1,286 1,750 1,757 1,657 1,932 2,130 2,415 2,284
OPM % 18% 15% 16% 15% 17% 16% 17% 19% 19% 19% 20% 20% 20%
505 440 1,085 489 666 320 532 271 595 351 552 356 444
Interest 2 2 2 2 3 4 11 8 16 12 7 12 30
Depreciation 66 64 66 70 70 68 67 75 76 87 92 93 93
Profit before tax 1,959 1,492 2,417 1,788 1,954 1,534 2,203 1,945 2,160 2,184 2,584 2,666 2,606
Tax % 21% 22% 16% 20% 22% 24% 22% 24% 21% 25% 22% 24% 23%
1,551 1,170 2,040 1,430 1,526 1,163 1,719 1,473 1,705 1,644 2,020 2,033 2,011
EPS in Rs 53.61 40.44 70.49 49.41 52.74 40.20 59.42 52.05 60.25 58.11 71.39 71.78 72.05
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
20,025 20,137 21,595 22,574 21,755 25,210 30,358 29,919 27,741 33,145 36,455 44,870
16,370 15,974 17,467 17,781 17,326 20,364 25,160 24,809 22,803 27,886 29,991 36,109
Operating Profit 3,656 4,163 4,128 4,793 4,429 4,846 5,198 5,109 4,938 5,259 6,465 8,762
OPM % 18% 21% 19% 21% 20% 19% 17% 17% 18% 16% 18% 20%
790 674 228 1,194 1,468 1,404 2,028 1,832 1,570 2,671 1,703 1,704
Interest 1 1 6 1 1 1 4 3 7 9 40 60
Depreciation 168 181 267 307 307 315 266 246 259 270 286 365
Profit before tax 4,277 4,655 4,083 5,679 5,588 5,933 6,956 6,692 6,241 7,652 7,842 10,040
Tax % 29% 31% 31% 28% 27% 29% 29% 22% 22% 19% 23% 23%
3,133 3,380 3,026 4,061 4,079 4,219 4,928 5,212 4,857 6,166 6,060 7,708
EPS in Rs 108.26 116.82 104.56 140.35 140.98 145.80 170.29 180.11 167.85 213.08 214.17 276.10
Dividend Payout % 42% 43% 48% 39% 39% 41% 35% 67% 83% 66% 65% 29%
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: 17%
TTM: 29%
Stock Price CAGR
10 Years: 16%
5 Years: 24%
3 Years: 34%
1 Year: 104%
Return on Equity
10 Years: 23%
5 Years: 22%
3 Years: 22%
Last Year: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 7,776 9,878 10,806 13,731 17,567 20,136 22,944 21,373 26,984 29,570 29,079 28,683
116 59 112 118 120 121 125 126 121 123 124 1,912
4,461 5,081 4,758 3,102 3,661 4,595 5,476 4,722 6,207 5,129 5,651 8,470
Total Liabilities 12,642 15,308 15,966 17,240 21,638 25,141 28,834 26,510 33,602 35,111 35,136 39,344
2,355 2,660 2,448 2,026 2,002 1,878 1,764 1,699 1,668 1,836 2,842 3,224
CWIP 294 144 255 52 42 56 48 60 16 77 85 28
Investments 6,059 8,448 8,985 11,067 15,477 18,895 20,603 19,914 24,687 26,634 26,183 28,087
3,934 4,056 4,277 4,095 4,117 4,312 6,420 4,837 7,232 6,564 6,026 8,005
Total Assets 12,642 15,308 15,966 17,240 21,638 25,141 28,834 26,510 33,602 35,111 35,136 39,344

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,218 3,502 2,114 3,690 3,267 4,328 2,487 3,850 3,120 4,197 5,277 6,558
-1,394 -2,072 -380 -68 -3,610 -1,954 -273 1,766 -2,869 276 1,211 -344
-1,445 -1,496 -1,644 -3,384 -190 -1,885 -2,074 -6,247 -20 -4,056 -7,181 -6,167
Net Cash Flow -621 -66 90 238 -532 488 140 -630 231 417 -692 47

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 13 14 12 12 16 22 31 21 36 17 18 17
Inventory Days 16 17 20 17 18 16 16 18 28 18 22 19
Days Payable 50 56 43 49 56 68 63 56 85 54 58 64
Cash Conversion Cycle -20 -24 -11 -20 -22 -31 -17 -16 -22 -19 -18 -28
Working Capital Days -23 -34 -22 -4 -2 -21 -4 -9 -0 -3 -9 24
ROCE % 59% 50% 40% 45% 35% 31% 30% 30% 25% 23% 26%

Shareholding Pattern

Numbers in percentages

66 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 1,54,3092,11,2032,44,0812,33,2252,28,8732,25,5182,26,8362,09,0762,02,9281,96,5432,00,7952,97,605

* 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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