Bajaj Auto Ltd
Bajaj Auto Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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38 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.3%
- Company has been maintaining a healthy dividend payout of 49.4%
Weaknesses
1- Stock is trading at 8.39 times its book value
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoBajaj Auto Ltd commands a market cap of ₹3,24,832 Cr with a PE of 27.5x and a 3-year ROE of 26%. The company has delivered 55% TTM profit growth and 37% TTM sales growth, though the stock trades at 8.18x book value after a 43% one-year stock price gain.
- TTM profit growth of 55% indicates strong earnings momentum well above the 10-year CAGR of 10%
- TTM sales growth of 37% demonstrates robust demand acceleration versus the 10-year sales CAGR of 11%
- Consistent ROE track record — 29% last year, 26% over 3 years, 24% over 5 years, 23% over 10 years — shows durable capital efficiency
- Healthy dividend payout of 49.4% with a current yield of 1.29% provides income visibility to shareholders
- 3-year compounded profit growth of 21% significantly outpaces the 10-year CAGR of 10%, indicating an improving profit trajectory
- 5-year stock CAGR of 25% and 10-year CAGR of 15% demonstrate sustained long-term wealth creation
- 5-year compounded sales CAGR of 18% shows consistent top-line expansion across cycles
- Company is expected to deliver a good upcoming quarter based on operational trends
- Stock trades at 8.18x price-to-book, a rich valuation that leaves limited margin of safety for new investors
- PE of 27.5x is elevated for an auto company and prices in significant future growth continuation
- One-year stock price gain of 43% has materially outpaced the 1-year profit growth trajectory, suggesting potential multiple expansion risk
- 10-year compounded profit CAGR of only 10% suggests current 55% TTM growth may not be sustainable long-term
- 10-year sales CAGR of 11% indicates the current 37% TTM sales growth represents a cyclical peak rather than a structural shift
- Dividend yield of 1.29% is modest relative to the stock's 8.18x P/B valuation, offering limited downside protection
- 3-year stock CAGR of 36% versus 3-year profit CAGR of 21% shows the stock has re-rated faster than earnings have grown
- Market cap of ₹3,24,832 Cr on a business with a 10-year profit CAGR of 10% implies the market is pricing in a structural growth step-up that is yet to be proven over a full cycle
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago- Q1 profit surges 42% YoY Jul 22
Net profit rose 42% to ₹2,983 crore on record revenue of ₹17,244 crore, driven by 54% export surge. MOSL upgraded to Buy with ₹12,096 target; Bernstein and CLSA retain Outperform.
- July sales up 30% YoY Aug 3
Total sales hit 4,74,677 units in July 2026, up 30% YoY. Exports rose 39% to 2,54,485 units while domestic sales grew 20%.
- Bajaj Mobility Q2 revenue jumps Jul 16
European subsidiary Bajaj Mobility AG posted Q2 2026 revenue of EUR 370 million vs EUR 231 million YoY. Motorcycle sales surged 71% to 48,672 units.
- ₹150/share dividend declared Jul 21
Bajaj Auto declared a dividend of ₹150 per share for FY26 at its 19th AGM, reinforcing shareholder returns.
- Capacity expansion & portfolio revamp Jul 22
Targeting 25% capacity increase to 9 million units annually and exports over 250,000 units/month from Q2. Full 125CC+ portfolio revamp planned for FY27 including new Pulsar models.
- EV expansion plans through FY28 Jul 21
Plans 50% rise in electric 3-wheeler output, Chetak capacity up from 50,000 to 60,000 units, and electric motorcycle export launch expected by FY28.
- ₹5,632 crore buyback completed Jul 16
Buyback of 46,94,000 shares at ₹12,000/share concluded with 4.72x oversubscription. Promoter stake rose to 55.95% post-extinguishment.
- Multiple analyst meets scheduled Aug 5
Bajaj Auto scheduled investor meetings on Aug 12 (Emkay), Aug 26 (360 ONE), Sep 10 (Axis Capital), and Sep 21 (J.P. Morgan) with no UPSI to be shared.
- Block trades on NSE Jul 23
Institutional block trades recorded at ₹11,301.50/share (₹16.55 crore on Jul 23) and ₹10,161.50/share (₹15.37 crore on Jul 13).
- 125-160CC model enhancements planned Jul 21
Bajaj Auto announced plans to enhance 125-160CC motorcycle models to boost competitiveness. Specific timelines and financial impact not disclosed.
TL;DR: Bajaj Auto is firing on all cylinders with 42% profit growth, 30% sales momentum, and a booming export engine now contributing over half of volumes. Shareholder returns remain strong via buyback and ₹150 dividend. No material headwinds are visible in recent news flow. The forward outlook is supported by aggressive capacity expansion, full portfolio refresh, and EV scaling plans through FY28.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10,312 | 10,838 | 12,165 | 11,555 | 11,932 | 13,247 | 13,169 | 12,646 | 13,133 | 15,735 | 16,204 | 17,832 | 21,689 |
| Expenses | 8,380 | 8,708 | 9,750 | 9,271 | 9,562 | 11,174 | 10,418 | 10,289 | 10,340 | 12,906 | 12,475 | 14,757 | 17,161 |
| Operating Profit | 1,932 | 2,130 | 2,415 | 2,284 | 2,370 | 2,073 | 2,751 | 2,358 | 2,793 | 2,829 | 3,730 | 3,075 | 4,528 |
| OPM % | 19% | 20% | 20% | 20% | 20% | 16% | 21% | 19% | 21% | 18% | 23% | 17% | 21% |
| Other Income | 351 | 552 | 356 | 444 | 335 | 399 | 348 | 392 | 509 | 576 | 359 | 1,894 | 688 |
| Interest | 12 | 7 | 12 | 30 | 47 | 75 | 120 | 147 | 224 | 287 | 314 | 344 | 387 |
| Depreciation | 87 | 92 | 93 | 93 | 95 | 98 | 102 | 119 | 118 | 119 | 119 | 289 | 405 |
| PBT | 2,184 | 2,584 | 2,666 | 2,606 | 2,564 | 2,299 | 2,876 | 2,484 | 2,961 | 2,999 | 3,656 | 4,336 | 4,423 |
| Tax % | 25% | 22% | 24% | 23% | 24% | 40% | 24% | 27% | 25% | 29% | 25% | 19% | 28% |
| Net Profit | 1,644 | 2,020 | 2,033 | 2,011 | 1,942 | 1,385 | 2,196 | 1,802 | 2,210 | 2,122 | 2,750 | 3,492 | 3,189 |
| EPS in Rs | 58.11 | 71.39 | 71.78 | 72.05 | 69.55 | 49.61 | 78.62 | 64.52 | 79.15 | 75.99 | 98.38 | 131 | 115 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 21,595 | 22,574 | 21,755 | 25,210 | 30,358 | 29,919 | 27,741 | 33,145 | 36,455 | 44,870 | 50,995 | 62,905 | 71,460 |
| Expenses | 17,467 | 17,781 | 17,326 | 20,364 | 25,160 | 24,809 | 22,803 | 27,886 | 29,991 | 36,106 | 41,440 | 49,808 | 57,299 |
| Operating Profit | 4,128 | 4,793 | 4,429 | 4,846 | 5,198 | 5,109 | 4,938 | 5,259 | 6,465 | 8,765 | 9,555 | 13,097 | 14,161 |
| OPM % | 19% | 21% | 20% | 19% | 17% | 17% | 18% | 16% | 18% | 20% | 19% | 21% | 20% |
| Other Income | 228 | 1,194 | 1,468 | 1,404 | 2,028 | 1,832 | 1,570 | 2,671 | 1,703 | 1,700 | 1,472 | 2,668 | 3,517 |
| Interest | 6 | 1 | 1 | 1 | 4 | 3 | 7 | 9 | 40 | 60 | 389 | 1,169 | 1,332 |
| Depreciation | 267 | 307 | 307 | 315 | 266 | 246 | 259 | 270 | 286 | 365 | 414 | 645 | 932 |
| PBT | 4,083 | 5,679 | 5,588 | 5,933 | 6,956 | 6,692 | 6,241 | 7,652 | 7,842 | 10,040 | 10,224 | 13,952 | 15,414 |
| Tax % | 31% | 28% | 27% | 29% | 29% | 22% | 22% | 19% | 23% | 23% | 28% | 24% | — |
| Net Profit | 3,026 | 4,061 | 4,079 | 4,219 | 4,928 | 5,212 | 4,857 | 6,166 | 6,060 | 7,708 | 7,325 | 10,574 | 11,553 |
| EPS in Rs | 105 | 140 | 141 | 146 | 170 | 180 | 168 | 213 | 214 | 276 | 262 | 384 | 421 |
| Div. Payout % | 48% | 39% | 39% | 41% | 35% | 67% | 83% | 66% | 65% | 29% | 80% | 39% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 289 | 289 | 289 | 289 | 289 | 289 | 289 | 289 | 283 | 279 | 279 | 280 |
| Reserves | 10,806 | 13,731 | 17,567 | 20,136 | 22,944 | 21,373 | 26,984 | 29,570 | 29,079 | 28,683 | 34,909 | 38,552 |
| Borrowings | 112 | 118 | 120 | 121 | 125 | 126 | 121 | 123 | 124 | 1,912 | 9,364 | 22,713 |
| Other Liabilities | 4,758 | 3,102 | 3,661 | 4,595 | 5,476 | 4,722 | 6,207 | 5,129 | 5,651 | 8,470 | 9,557 | 15,369 |
| Total Liabilities | 15,966 | 17,240 | 21,638 | 25,141 | 28,834 | 26,510 | 33,602 | 35,111 | 35,136 | 39,344 | 54,110 | 76,914 |
| Fixed Assets | 2,448 | 2,026 | 2,002 | 1,878 | 1,764 | 1,699 | 1,668 | 1,836 | 2,842 | 3,217 | 3,677 | 11,961 |
| CWIP | 255 | 52 | 42 | 56 | 48 | 60 | 16 | 77 | 85 | 35 | 61 | 1,521 |
| Investments | 8,985 | 11,067 | 15,477 | 18,895 | 20,603 | 19,914 | 24,687 | 26,634 | 26,183 | 28,087 | 28,914 | 24,642 |
| Other Assets | 4,277 | 4,095 | 4,117 | 4,312 | 6,420 | 4,837 | 7,232 | 6,564 | 6,026 | 8,005 | 21,459 | 38,790 |
| Total Assets | 15,966 | 17,240 | 21,638 | 25,141 | 28,834 | 26,510 | 33,602 | 35,111 | 35,136 | 39,344 | 54,110 | 76,914 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 2,114 | 3,690 | 3,267 | 4,328 | 2,487 | 3,850 | 3,120 | 4,197 | 5,277 | 6,558 | -1,406 | 2,597 |
| Investing | -380 | -68 | -3,610 | -1,954 | -273 | 1,766 | -2,869 | 276 | 1,211 | -72 | -1,053 | -7,018 |
| Financing | -1,644 | -3,384 | -190 | -1,885 | -2,074 | -6,247 | -20 | -4,056 | -7,181 | -6,167 | 4,230 | 5,079 |
| Net Cash Flow | 90 | 238 | -532 | 488 | 140 | -630 | 231 | 417 | -692 | 319 | 1,771 | 658 |
| Free Cash Flow | 1,819 | 3,419 | 3,070 | 4,145 | 2,379 | 3,570 | 2,866 | 3,680 | 4,304 | 5,847 | -2,273 | 1,885 |
| CFO/OP | 82 | 115 | 108 | 124 | 86 | 108 | 90 | 112 | 111 | 102 | 14 | 46 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 12 | 12 | 16 | 22 | 31 | 21 | 36 | 17 | 18 | 17 | 15 | 20 |
| Inventory Days | 20 | 17 | 18 | 16 | 16 | 18 | 28 | 18 | 22 | 19 | 22 | 54 |
| Days Payable | 43 | 49 | 56 | 68 | 63 | 56 | 85 | 54 | 58 | 64 | 66 | 76 |
| Cash Conversion Cycle | -11 | -20 | -22 | -31 | -17 | -16 | -22 | -19 | -18 | -28 | -29 | -1 |
| Working Capital Days | -22 | -4 | -2 | -21 | -4 | -9 | 0 | -3 | -9 | -30 | -6 | 22 |
| ROCE % | 40% | 45% | 35% | 31% | 30% | 30% | 25% | 23% | 27% | 34% | 28% | 28% |
Documents
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Company Information
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]