Bajaj Auto Ltd
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]
- Market Cap ₹ 3,31,673 Cr.
- Current Price ₹ 11,877
- High / Low ₹ 12,774 / 5,032
- Stock P/E 41.4
- Book Value ₹ 1,037
- Dividend Yield 0.67 %
- ROCE 33.5 %
- ROE 26.5 %
- 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 11.4 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
20,025 | 20,137 | 21,595 | 22,574 | 21,755 | 25,210 | 30,358 | 29,919 | 27,741 | 33,145 | 36,455 | 44,870 | 46,491 | |
16,370 | 15,974 | 17,467 | 17,781 | 17,326 | 20,364 | 25,160 | 24,809 | 22,803 | 27,886 | 29,991 | 36,106 | 37,291 | |
Operating Profit | 3,656 | 4,163 | 4,128 | 4,793 | 4,429 | 4,846 | 5,198 | 5,109 | 4,938 | 5,259 | 6,465 | 8,765 | 9,200 |
OPM % | 18% | 21% | 19% | 21% | 20% | 19% | 17% | 17% | 18% | 16% | 18% | 20% | 20% |
790 | 674 | 228 | 1,194 | 1,468 | 1,404 | 2,028 | 1,832 | 1,570 | 2,671 | 1,703 | 1,700 | 1,688 | |
Interest | 1 | 1 | 6 | 1 | 1 | 1 | 4 | 3 | 7 | 9 | 40 | 60 | 95 |
Depreciation | 168 | 181 | 267 | 307 | 307 | 315 | 266 | 246 | 259 | 270 | 286 | 365 | 373 |
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 | 10,420 |
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 | 8,006 | |
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 | 284.77 |
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: | 20% |
Compounded Profit Growth | |
---|---|
10 Years: | 9% |
5 Years: | 11% |
3 Years: | 17% |
TTM: | 22% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 32% |
3 Years: | 44% |
1 Year: | 135% |
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 | 3,217 | |
CWIP | 294 | 144 | 255 | 52 | 42 | 56 | 48 | 60 | 16 | 77 | 85 | 35 |
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 | -72 | |
-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 | 319 |
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 | -21 |
ROCE % | 59% | 50% | 40% | 45% | 35% | 31% | 30% | 30% | 25% | 23% | 27% | 34% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Oct - Conference call for Q2 FY25 results on October 16, 2024.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 Oct - Bajaj Auto reports September 2024 sales figures.
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Closure of Trading Window
26 Sep - Board meeting scheduled for Q2 financial results.
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Board Meeting Intimation for Unaudited Financial Results For The Quarter And Half Year Ending 30 September 2024.
26 Sep - Board meeting on 16 October for Q2 results.
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Announcement under Regulation 30 (LODR)-Change in Management
17 Sep - Resignation of Amitabh Lal Das, General Counsel.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Apr 2024TranscriptPPT
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Jan 2024TranscriptPPT
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Jul 2023TranscriptPPT
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May 2023TranscriptPPT
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Jan 2023TranscriptPPT
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Oct 2022TranscriptPPT
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Jul 2022TranscriptPPT
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May 2022TranscriptPPT
Market Leadership
The company is the 2nd-largest player in the domestic motorcycle segment in terms of volume. It is the largest 3W producer in the world and the largest exporter of 2W and 3W from India. [1] [2]
Segment Performance
1) Motorcycles: The company holds a market share of 18.2% in FY24 vs 17.3% in FY23 of motorcycle sales in India. [3]