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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Bajaj Auto Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:49 am

Market Cap 2,45,391 Cr.
Current Price 8,787
High / Low 12,774/6,370
Stock P/E33.3
Book Value 1,109
Dividend Yield0.91 %
ROCE33.5 %
ROE26.5 %
Face Value 10.0
PEG Ratio4.30

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hero MotoCorp Ltd 86,799 Cr. 4,340 6,246/3,93021.1 9512.65 %29.1 %22.0 % 2.00
Bajaj Auto Ltd 2,45,391 Cr. 8,787 12,774/6,37033.3 1,1090.91 %33.5 %26.5 % 10.0
Atul Auto Ltd 1,590 Cr. 573 844/470108 1540.00 %4.19 %1.67 % 5.00
TVS Motor Company Ltd 1,13,627 Cr. 2,392 2,958/1,87360.2 1630.33 %14.7 %26.6 % 1.00
Eicher Motors Ltd 1,29,788 Cr. 4,734 5,105/3,56230.4 6931.08 %31.1 %24.2 % 1.00
Industry Average115,439.00 Cr4,165.2050.60614.000.99%22.52%20.19%3.80

All Competitor Stocks of

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales8,9108,5967,3868,7629,0227,9758,00510,2039,3198,92910,31210,83812,165
Expenses7,1817,0746,2687,3627,6506,6146,7198,4537,5617,2728,3808,7089,750
Operating Profit1,7291,5221,1181,4001,3711,3611,2861,7501,7571,6571,9322,1302,415
OPM %19%18%15%16%15%17%16%17%19%19%19%20%20%
Other Income5305054401,085489666320532271595351552356
Interest12222341181612712
Depreciation65666466707068677576879293
Profit before tax2,1931,9591,4922,4171,7881,9541,5342,2031,9452,1602,1842,5842,666
Tax %22%21%22%16%20%22%24%22%24%21%25%22%24%
Net Profit1,7161,5511,1702,0401,4301,5261,1631,7191,4731,7051,6442,0202,033
EPS in Rs59.3153.6140.4470.4949.4152.7440.2059.4252.0560.2558.1171.3971.78

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales19,58220,02520,13721,59522,57421,75525,21030,35829,91927,74133,14536,45542,245
Expenses15,90116,37015,97417,46717,78117,32620,36425,16024,80922,80327,88629,99134,110
Operating Profit3,6813,6564,1634,1284,7934,4294,8465,1985,1094,9385,2596,4658,135
OPM %19%18%21%19%21%20%19%17%17%18%16%18%19%
Other Income5027906742281,1941,4681,4042,0281,8321,5702,6711,7031,854
Interest2311611143794046
Depreciation147168181267307307315266246259270286348
Profit before tax4,0134,2774,6554,0835,6795,5885,9336,9566,6926,2417,6527,8429,594
Tax %25%29%31%31%28%27%29%29%22%22%19%23%
Net Profit3,0483,1333,3803,0264,0614,0794,2194,9285,2124,8576,1666,0607,402
EPS in Rs105.35108.26116.82104.56140.35140.98145.80170.29180.11167.85213.08214.17261.53
Dividend Payout %43%42%43%48%39%39%41%35%67%83%66%65%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)2.79%7.88%-10.47%34.20%0.44%3.43%16.80%5.76%-6.81%26.95%-1.72%
Change in YoY Net Profit Growth (%)0.00%5.10%-18.36%44.68%-33.76%2.99%13.37%-11.04%-12.57%33.76%-28.67%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:8%
3 Years:17%
TTM:24%
Compounded Profit Growth
10 Years:9%
5 Years:11%
3 Years:17%
TTM:8%
Stock Price CAGR
10 Years:14%
5 Years:22%
3 Years:40%
1 Year:38%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:22%
Last Year:26%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:38 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital289289289289289289289289289289283279279
Reserves7,7769,87810,80613,73117,56720,13622,94421,37326,98429,57029,07928,68330,700
Borrowings116591121181201211251261211231241,9125,245
Other Liabilities4,4615,0814,7583,1023,6614,5955,4764,7226,2075,1295,6518,4709,618
Total Liabilities12,64215,30815,96617,24021,63825,14128,83426,51033,60235,11135,13639,34445,842
Fixed Assets2,3552,6602,4482,0262,0021,8781,7641,6991,6681,8362,8423,2173,214
CWIP294144255524256486016778535141
Investments6,0598,4488,98511,06715,47718,89520,60319,91424,68726,63426,18328,08728,552
Other Assets3,9344,0564,2774,0954,1174,3126,4204,8377,2326,5646,0268,00513,934
Total Assets12,64215,30815,96617,24021,63825,14128,83426,51033,60235,11135,13639,34445,842

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +2,2183,5022,1143,6903,2674,3282,4873,8503,1204,1975,2776,558
Cash from Investing Activity +-1,394-2,072-380-68-3,610-1,954-2731,766-2,8692761,211-72
Cash from Financing Activity +-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-621-6690238-532488140-630231417-692319

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow3.00-113.00-55.00-108.00-114.00-116.00-117.00-120.00-121.00-117.00-118.00-118.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days131412121622312136171817
Inventory Days161720171816161828182219
Days Payable505643495668635685545864
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%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters53.70%53.73%53.77%53.77%54.84%54.99%54.99%54.99%54.99%54.95%55.06%55.06%
FIIs11.21%10.20%10.49%11.16%11.56%11.82%12.35%13.67%14.37%14.64%14.53%14.19%
DIIs12.85%13.23%13.17%12.40%11.53%10.91%10.79%9.56%9.03%8.66%8.47%8.73%
Government0.00%0.00%0.00%0.00%0.07%0.07%0.07%0.07%0.07%0.07%0.08%0.08%
Public22.24%22.84%22.57%22.68%21.99%22.20%21.79%21.72%21.54%21.67%21.88%21.92%
No. of Shareholders2,11,2032,44,0812,33,2252,28,8732,25,5182,26,8362,09,0762,02,9281,96,5432,00,7952,97,6052,74,956

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Nifty 50 ETF2,099,7700.781278.882,099,7702024-12-200%
Axis Bluechip Fund1,160,6992.22706.932,099,7702024-12-20-44.72%
SBI Blue Chip Fund895,7691.34545.572,099,7702024-12-20-57.34%
UTI Nifty 50 ETF574,6720.78350.012,099,7702024-12-20-72.63%
Axis Focused 25 Fund565,0002.42344.122,099,7702024-12-20-73.09%
ICICI Prudential Bluechip Fund391,0420.54238.172,099,7702024-12-20-81.38%
HDFC ELSS Tax Saver Fund385,0001.92234.492,099,7702024-12-20-81.66%
SBI Large & Midcap Fund362,5001.29220.782,099,7702024-12-20-82.74%
UTI Transportation and Logistic Fund314,8727.39191.772,099,7702024-12-20-85%
UTI Nifty200 Momentum 30 Index Fund290,8945.63177.172,099,7702024-12-20-86.15%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)272.70212.50213.20167.90180.20
Diluted EPS (Rs.)272.70212.50213.20167.90180.20
Cash EPS (Rs.)279.58205.57202.37166.22177.52
Book Value[Excl.RevalReserv]/Share (Rs.)1037.411037.661031.89942.51748.59
Book Value[Incl.RevalReserv]/Share (Rs.)1037.411037.661031.89942.51748.59
Revenue From Operations / Share (Rs.)1607.221288.361145.41958.671033.92
PBDIT / Share (Rs.)365.27269.93225.80214.30228.78
PBIT / Share (Rs.)352.20259.83216.48205.33220.26
PBT / Share (Rs.)350.04258.44244.40205.10220.15
Net Profit / Share (Rs.)266.52195.47193.05157.26169.00
NP After MI And SOA / Share (Rs.)276.10214.17213.08167.85180.11
PBDIT Margin (%)22.7220.9519.7122.3522.12
PBIT Margin (%)21.9120.1618.8921.4121.30
PBT Margin (%)21.7720.0521.3321.3921.29
Net Profit Margin (%)16.5815.1716.8516.4016.34
NP After MI And SOA Margin (%)17.1716.6218.6017.5017.42
Return on Networth / Equity (%)26.6120.6320.6417.8024.06
Return on Capital Employeed (%)32.5024.6120.5921.2528.63
Return On Assets (%)19.5917.2417.5614.4519.66
Long Term Debt / Equity (X)0.020.000.000.000.00
Total Debt / Equity (X)0.060.000.000.000.00
Asset Turnover Ratio (%)1.201.101.010.951.12
Current Ratio (X)1.301.832.212.511.56
Quick Ratio (X)1.111.531.952.251.31
Inventory Turnover Ratio (X)18.0018.2716.2714.3219.24
Dividend Payout Ratio (NP) (%)51.3966.8465.700.0066.62
Dividend Payout Ratio (CP) (%)49.0663.8362.940.0063.61
Earning Retention Ratio (%)48.6133.1634.300.0033.38
Cash Earning Retention Ratio (%)50.9436.1737.060.0036.39
Interest Coverage Ratio (X)168.95193.32754.51931.102095.00
Interest Coverage Ratio (Post Tax) (X)124.27140.99551.79684.291548.59
Enterprise Value (Cr.)256137.91109206.95104734.34105709.1558278.20
EV / Net Operating Revenue (X)5.713.003.163.811.95
EV / EBITDA (X)25.1214.3016.0317.058.80
MarketCap / Net Operating Revenue (X)5.693.013.193.831.96
Retention Ratios (%)48.6033.1534.290.0033.37
Price / BV (X)8.823.743.543.902.70
Price / Net Operating Revenue (X)5.693.013.193.831.96
EarningsYield0.030.050.050.040.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 9,875.43

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.

As of December 22, 2024, is Undervalued by 12.39% compared to the current share price 8,787.00

Intrinsic Value of as of December 22, 2024 is: 10,640.27

Calculation basis:

  • Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 21.09% compared to the current share price 8,787.00

Last 5 Year EPS CAGR: 7.74%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 35.75%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -12.67, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -20.67, which is a positive sign.
  4. The company has higher reserves (20,709.77 cr) compared to borrowings (647.85 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (26.54 cr) and profit (5.54 cr) over the years.
    • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
      1. Net Profit Margin: 16.58%
        • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
      2. ROCE: 32.5% (Industry Average ROCE: 22.52%)
        • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
      3. ROE%: 26.61% (Industry Average ROE: 20.19%)
        • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
      4. Interest Coverage Ratio (Post Tax): 124.27
        • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
      5. Quick Ratio: 1.11
        • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
      6. Stock P/E: 33.3 (Industry average Stock P/E: 50.6)
        • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
      7. Total Debt / Equity: 0.06
        • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
      The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
      Stock Rating:

    About the Company - Qualitative Analysis

    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.
    INDUSTRYADDRESSCONTACT
    Auto - 2 & 3 WheelersMumbai-Pune Road, Mumbai Maharashtra 411035investors@bajajauto.co.in
    http://www.bajajauto.com
    Management
    NamePosition Held
    Mr. Niraj BajajChairman
    Mr. Rajiv BajajManaging Director & CEO
    Mr. Pradeep ShrivastavaExecutive Director
    Mr. Rakesh SharmaExecutive Director
    Mr. Abhinav BindraDirector
    Mr. Sanjiv BajajDirector
    Mr. Vinita BaliDirector
    Mr. Anami RoyDirector
    Dr. Naushad ForbesDirector
    Mr. Pradip ShahDirector

    FAQ

    What is the latest intrinsic value of ?

    The latest intrinsic value of as on 21 December 2024 is ₹10081.02, which is 14.73% higher than the current market price of ₹8,787.00. The stock has a market capitalization of 2,45,391 Cr. and recorded a high/low of 12,774/6,370 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹30,700 Cr and total liabilities of ₹45,842 Cr.

    What is the Market Cap of ?

    The Market Cap of is 2,45,391 Cr..

    What is the current Stock Price of as on 21 December 2024?

    The current stock price of as on 21 December 2024 is 8,787.

    What is the High / Low of stocks in FY 2024-2025?

    In FY 2024-2025, the High / Low of stocks is 12,774/6,370.

    What is the Stock P/E of ?

    The Stock P/E of is 33.3.

    What is the Book Value of ?

    The Book Value of is 1,109.

    What is the Dividend Yield of ?

    The Dividend Yield of is 0.91 %.

    What is the ROCE of ?

    The ROCE of is 33.5 %.

    What is the ROE of ?

    The ROE of is 26.5 %.

    What is the Face Value of ?

    The Face Value of is 10.0.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE