Fundamental Analysis of Bajaj Auto Ltd

About the Company - Bajaj Auto Ltd

Bajaj Auto Ltd. is a Public Limited Listed company incorporated on 30/04/2007 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65993PN2007PLC130076 and registration number is 130076. Currently Company is involved in the business activities of Manufacture of motorcycles. Company’s Total Operating Revenue is Rs. 33144.71 Cr. and Equity Capital is Rs. 289.37 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Auto - 2 & 3 Wheelers	Mumbai-Pune Road, Mumbai Maharashtra 411035	investors@bajajauto.co.in http://www.bajajauto.com

Management
Name	Position Held
Mr. Niraj Bajaj	Chairman
Mr. Rajiv Bajaj	Managing Director & CEO
Mr. Pradeep Shrivastava	Executive Director
Mr. Rakesh Sharma	Executive Director
Mr. Abhinav Bindra	Director
Mr. Sanjiv Bajaj	Director
Mr. Vinita Bali	Director
Mr. Anami Roy	Director
Dr. Naushad Forbes	Director
Mr. Pradip Shah	Director

Basic Stock Data of Bajaj Auto Ltd

Last Updated: July 6, 2024, 12:22 pm

Market Cap	2,69,012 Cr.
Current Price	9,636
High / Low	10,039/4,541
Stock P/E	34.8
Book Value	1,037
Dividend Yield	0.83 %
ROCE	33.5 %
ROE	26.5 %
Face Value	10.0
PEG Ratio	4.49

Competitors of Bajaj Auto Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
TVS Motor Company Ltd	1,15,456 Cr.	2,430	2,525/1,295	68.5	143	0.33 %	18.8 %	27.4 %	1.00
Eicher Motors Ltd	1,29,807 Cr.	4,737	4,978/3,159	32.4	659	1.08 %	31.1 %	24.2 %	1.00
Hero MotoCorp Ltd	1,11,123 Cr.	5,558	5,895/2,889	28.8	885	2.07 %	29.8 %	22.5 %	2.00
Industry Average	118,795.33 Cr	4,241.67		43.23	562.33	1.16%	26.57%	24.70%	1.33

Bajaj Auto Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	8,910	8,596	7,386	8,762	9,022	7,975	8,005	10,203	9,319	8,929	10,312	10,838	12,165
Expenses	7,181	7,074	6,268	7,362	7,650	6,614	6,719	8,453	7,561	7,272	8,380	8,708	9,750
Operating Profit	1,729	1,522	1,118	1,400	1,371	1,361	1,286	1,750	1,757	1,657	1,932	2,130	2,415
OPM %	19%	18%	15%	16%	15%	17%	16%	17%	19%	19%	19%	20%	20%
Other Income	530	505	440	1,085	489	666	320	532	271	595	351	552	356
Interest	1	2	2	2	2	3	4	11	8	16	12	7	12
Depreciation	65	66	64	66	70	70	68	67	75	76	87	92	93
Profit before tax	2,193	1,959	1,492	2,417	1,788	1,954	1,534	2,203	1,945	2,160	2,184	2,584	2,666
Tax %	22%	21%	22%	16%	20%	22%	24%	22%	24%	21%	25%	22%	24%
Net Profit	1,716	1,551	1,170	2,040	1,430	1,526	1,163	1,719	1,473	1,705	1,644	2,020	2,033
EPS in Rs	59.31	53.61	40.44	70.49	49.41	52.74	40.20	59.42	52.05	60.25	58.11	71.39	71.78

Last Updated: June 7, 2024, 8:34 am

Bajaj Auto Ltd Quarterly Chart

Bajaj Auto Ltd Profit & Loss

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	19,582	20,025	20,137	21,595	22,574	21,755	25,210	30,358	29,919	27,741	33,145	36,455	42,245
Expenses	15,901	16,370	15,974	17,467	17,781	17,326	20,364	25,160	24,809	22,803	27,886	29,991	34,110
Operating Profit	3,681	3,656	4,163	4,128	4,793	4,429	4,846	5,198	5,109	4,938	5,259	6,465	8,135
OPM %	19%	18%	21%	19%	21%	20%	19%	17%	17%	18%	16%	18%	19%
Other Income	502	790	674	228	1,194	1,468	1,404	2,028	1,832	1,570	2,671	1,703	1,854
Interest	23	1	1	6	1	1	1	4	3	7	9	40	46
Depreciation	147	168	181	267	307	307	315	266	246	259	270	286	348
Profit before tax	4,013	4,277	4,655	4,083	5,679	5,588	5,933	6,956	6,692	6,241	7,652	7,842	9,594
Tax %	25%	29%	31%	31%	28%	27%	29%	29%	22%	22%	19%	23%
Net Profit	3,048	3,133	3,380	3,026	4,061	4,079	4,219	4,928	5,212	4,857	6,166	6,060	7,402
EPS in Rs	105.35	108.26	116.82	104.56	140.35	140.98	145.80	170.29	180.11	167.85	213.08	214.17	261.53
Dividend Payout %	43%	42%	43%	48%	39%	39%	41%	35%	67%	83%	66%	65%

Bajaj Auto Ltd Profit & Loss Yearly Chart

Bajaj Auto Ltd Growth

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:	28%
3 Years:	34%
1 Year:	117%

Return on Equity
10 Years:	23%
5 Years:	22%
3 Years:	22%
Last Year:	26%

Last Updated: June 18, 2024, 6:17 am

Bajaj Auto Ltd Balance Sheet

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	289	289	289	289	289	289	289	289	289	289	289	283	283
Reserves	5,792	7,776	9,878	10,806	13,731	17,567	20,136	22,944	21,373	26,984	29,570	29,079	29,048
Borrowings	150	116	59	112	118	120	121	125	126	121	123	124	125
Other Liabilities	4,894	4,461	5,081	4,758	3,102	3,661	4,595	5,476	4,722	6,207	5,129	5,651	7,011
Total Liabilities	11,126	12,642	15,308	15,966	17,240	21,638	25,141	28,834	26,510	33,602	35,111	35,136	36,467
Fixed Assets	1,920	2,355	2,660	2,448	2,026	2,002	1,878	1,764	1,699	1,668	1,836	2,842	2,944
CWIP	42	294	144	255	52	42	56	48	60	16	77	85	52
Investments	4,473	6,059	8,448	8,985	11,067	15,477	18,895	20,603	19,914	24,687	26,634	26,183	26,304
Other Assets	4,692	3,934	4,056	4,277	4,095	4,117	4,312	6,420	4,837	7,232	6,564	6,026	7,167
Total Assets	11,126	12,642	15,308	15,966	17,240	21,638	25,141	28,834	26,510	33,602	35,111	35,136	36,467

Bajaj Auto Ltd Reserves and Borrowings Chart

Bajaj Auto Ltd Cash Flow

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	3,246	2,218	3,502	2,114	3,690	3,267	4,328	2,487	3,850	3,120	4,197	5,277
Cash from Investing Activity	-850	-1,394	-2,072	-380	-68	-3,610	-1,954	-273	1,766	-2,869	276	1,211
Cash from Financing Activity	-1,462	-1,445	-1,496	-1,644	-3,384	-190	-1,885	-2,074	-6,247	-20	-4,056	-7,181
Net Cash Flow	934	-621	-66	90	238	-532	488	140	-630	231	417	-692

Bajaj Auto Ltd Financial Efficiency Indicators

Month	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%

Bajaj Auto Ltd Financial Efficiency Indicators Chart

Bajaj Auto Ltd Share Holding Pattern

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoters	53.70%	53.70%	53.70%	53.70%	53.73%	53.77%	53.77%	54.84%	54.99%	54.99%	54.99%	54.99%
FIIs	13.06%	11.99%	11.82%	11.21%	10.20%	10.49%	11.16%	11.56%	11.82%	12.35%	13.67%	14.37%
DIIs	9.13%	12.29%	12.71%	12.85%	13.23%	13.17%	12.40%	11.53%	10.91%	10.79%	9.56%	9.03%
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.07%	0.07%	0.07%	0.07%
Public	24.11%	22.02%	21.77%	22.24%	22.84%	22.57%	22.68%	21.99%	22.20%	21.79%	21.72%	21.54%
No. of Shareholders	1,29,992	1,56,955	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

Bajaj Auto Ltd Shareholding Pattern Chart

No. of Bajaj Auto Ltd Shareholders

Bajaj Auto Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Nifty 50 ETF	2,099,770	0.78	1278.88	895,769	2024-07-05	134.41%
Axis Bluechip Fund	1,160,699	2.22	706.93	895,769	2024-07-05	29.58%
SBI Blue Chip Fund	895,769	1.34	545.57	895,769	2024-07-05	0%
UTI Nifty 50 ETF	574,672	0.78	350.01	895,769	2024-07-05	-35.85%
Axis Focused 25 Fund	565,000	2.42	344.12	895,769	2024-07-05	-36.93%
ICICI Prudential Bluechip Fund	391,042	0.54	238.17	895,769	2024-07-05	-56.35%
HDFC ELSS Tax Saver Fund	385,000	1.92	234.49	895,769	2024-07-05	-57.02%
SBI Large & Midcap Fund	362,500	1.29	220.78	895,769	2024-07-05	-59.53%
UTI Transportation and Logistic Fund	314,872	7.39	191.77	895,769	2024-07-05	-64.85%
UTI Nifty200 Momentum 30 Index Fund	290,894	5.63	177.17	895,769	2024-07-05	-67.53%

Bajaj Auto Ltd ROCE Trend

Bajaj Auto Ltd EPS Trend

Bajaj Auto Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	272.70	212.50	213.20	167.90	180.20
Diluted EPS (Rs.)	272.70	212.50	213.20	167.90	180.20
Cash EPS (Rs.)	279.58	205.57	202.37	166.22	177.52
Book Value[Excl.RevalReserv]/Share (Rs.)	1037.41	1037.66	1031.89	942.51	748.59
Book Value[Incl.RevalReserv]/Share (Rs.)	1037.41	1037.66	1031.89	942.51	748.59
Revenue From Operations / Share (Rs.)	1607.22	1288.36	1145.41	958.67	1033.92
PBDIT / Share (Rs.)	365.27	269.93	225.80	214.30	228.78
PBIT / Share (Rs.)	352.20	259.83	216.48	205.33	220.26
PBT / Share (Rs.)	350.04	258.44	244.40	205.10	220.15
Net Profit / Share (Rs.)	266.52	195.47	193.05	157.26	169.00
NP After MI And SOA / Share (Rs.)	276.10	214.17	213.08	167.85	180.11
PBDIT Margin (%)	22.72	20.95	19.71	22.35	22.12
PBIT Margin (%)	21.91	20.16	18.89	21.41	21.30
PBT Margin (%)	21.77	20.05	21.33	21.39	21.29
Net Profit Margin (%)	16.58	15.17	16.85	16.40	16.34
NP After MI And SOA Margin (%)	17.17	16.62	18.60	17.50	17.42
Return on Networth / Equity (%)	26.61	20.63	20.64	17.80	24.06
Return on Capital Employeed (%)	32.50	24.61	20.59	21.25	28.63
Return On Assets (%)	19.59	17.24	17.56	14.45	19.66
Long Term Debt / Equity (X)	0.02	0.00	0.00	0.00	0.00
Total Debt / Equity (X)	0.06	0.00	0.00	0.00	0.00
Asset Turnover Ratio (%)	1.20	1.10	1.01	0.95	1.12
Current Ratio (X)	1.30	1.83	2.21	2.51	1.56
Quick Ratio (X)	1.11	1.53	1.95	2.25	1.31
Inventory Turnover Ratio (X)	18.00	18.27	16.27	14.32	19.24
Dividend Payout Ratio (NP) (%)	0.00	66.84	65.70	0.00	66.62
Dividend Payout Ratio (CP) (%)	0.00	63.83	62.94	0.00	63.61
Earning Retention Ratio (%)	0.00	33.16	34.30	0.00	33.38
Cash Earning Retention Ratio (%)	0.00	36.17	37.06	0.00	36.39
Interest Coverage Ratio (X)	168.95	193.32	754.51	931.10	2095.00
Interest Coverage Ratio (Post Tax) (X)	124.27	140.99	551.79	684.29	1548.59
Enterprise Value (Cr.)	256137.91	109206.95	104734.34	105709.15	58278.20
EV / Net Operating Revenue (X)	5.71	3.00	3.16	3.81	1.95
EV / EBITDA (X)	25.12	14.30	16.03	17.05	8.80
MarketCap / Net Operating Revenue (X)	5.69	3.01	3.19	3.83	1.96
Retention Ratios (%)	0.00	33.15	34.29	0.00	33.37
Price / BV (X)	8.82	3.74	3.54	3.90	2.70
Price / Net Operating Revenue (X)	5.69	3.01	3.19	3.83	1.96
EarningsYield	0.03	0.05	0.05	0.04	0.08

Bajaj Auto Ltd Profitability Ratios (%)

Bajaj Auto Ltd Liquidity Ratios

Bajaj Auto Ltd Liquidity Ratios (%)

Bajaj Auto Ltd Interest Coverage Ratios (%)

Bajaj Auto Ltd Valuation Ratios

Fair Value

Fair Value: 9,642.59

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 0.07% compared to the current price 9636

Intrinsic Value: 10,389.40

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 7.82% compared to the current price ₹9636

Last 5 Year EPS CAGR: 7.74%

*Investments are subject to market risks

Strength and Weakness of Bajaj Auto Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 32.83%, which is a positive sign. The stock has a low average Working Capital Days of -8.92, which is a positive sign. The stock has a low average Cash Conversion Cycle of -20.67, which is a positive sign. The company has higher reserves (18,821.85 cr) compared to borrowings (118.46 cr), indicating strong financial stability. The company has shown consistent growth in sales (26.54 cr) and profit (5.54 cr) over the years.

Strength

Weakness

The stock has a high average ROCE of 32.83%, which is a positive sign.
The stock has a low average Working Capital Days of -8.92, which is a positive sign.
The stock has a low average Cash Conversion Cycle of -20.67, which is a positive sign.
The company has higher reserves (18,821.85 cr) compared to borrowings (118.46 cr), indicating strong financial stability.
The company has shown consistent growth in sales (26.54 cr) and profit (5.54 cr) over the years.

FAQ

What is the latest fair value of Bajaj Auto Ltd?

The latest fair value of Bajaj Auto Ltd is ₹9642.59.

What is the Market Cap of Bajaj Auto Ltd?

The Market Cap of Bajaj Auto Ltd is 2,69,012 Cr..

What is the current Stock Price of Bajaj Auto Ltd as on 06 July 2024?

The current stock price of Bajaj Auto Ltd as on 06 July 2024 is 9,636.

What is the High / Low of Bajaj Auto Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bajaj Auto Ltd stocks is 10,039/4,541.

What is the Stock P/E of Bajaj Auto Ltd?

The Stock P/E of Bajaj Auto Ltd is 34.8.

What is the Book Value of Bajaj Auto Ltd?

The Book Value of Bajaj Auto Ltd is 1,037.

What is the Dividend Yield of Bajaj Auto Ltd?

The Dividend Yield of Bajaj Auto Ltd is 0.83 %.

What is the ROCE of Bajaj Auto Ltd?

The ROCE of Bajaj Auto Ltd is 33.5 %.

What is the ROE of Bajaj Auto Ltd?

The ROE of Bajaj Auto Ltd is 26.5 %.

What is the Face Value of Bajaj Auto Ltd?

The Face Value of Bajaj Auto Ltd is 10.0.