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Bajaj Auto Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹7,217.86Overvalued by 28.76%vs CMP ₹10,132.00

P/E (31.7) × ROE (22.8%) × BV (₹1,223.00) × DY (2.07%)

₹3,897.94Overvalued by 61.53%vs CMP ₹10,132.00
MoS: -159.9% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹7,819.8222%Over (-22.8%)
Graham NumberEarnings₹2,958.3216%Over (-70.8%)
Earnings PowerEarnings₹1,436.1013%Over (-85.8%)
DCFCash Flow₹4,236.7213%Over (-58.2%)
Net Asset ValueAssets₹1,223.017%Over (-87.9%)
EV/EBITDAEnterprise₹2,863.249%Over (-71.7%)
Earnings YieldEarnings₹3,180.407%Over (-68.6%)
ROCE CapitalReturns₹3,413.919%Over (-66.3%)
Revenue MultipleRevenue₹2,737.815%Over (-73%)
Consensus (9 models)₹3,897.94100%Overvalued
Key Drivers: Wide model spread (₹1,223–₹7,820) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 8.3%

*Investments are subject to market risks

Analyst Summary

Bajaj Auto Ltd operates in the Auto - 2 & 3 Wheelers segment, current market price is ₹10,132.00, market cap is 2,83,081 Cr.. At a glance, stock P/E is 31.7, ROE is 22.8 %, ROCE is 28.1 %, book value is 1,223, dividend yield is 2.07 %. The latest intrinsic value estimate is ₹3,897.94, around 61.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹50,995 Cr versus the prior period change of 13.7%, while latest net profit is about ₹7,325 Cr with a prior-period change of -5.0%. The 52-week range shown on this page is 10,481/7,556, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisBajaj 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 L65993…

This summary is generated from the stock page data available for Bajaj Auto Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

71
Bajaj Auto Ltd scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health89/100 · Strong
ROCE 28.1% ExcellentROE 22.8% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -2.77% (6mo) SellingDII holding up 3.15% MF buyingPromoter holding at 55.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (17% → 20%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +16% YoY GrowingProfit (4Q): +18% YoY Positive
Industry Rank65/100 · Strong
P/E 31.7 vs industry 36.6 In-lineROCE 28.1% vs industry 22.0% Above peers3Y sales CAGR: 15% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 4, 2026, 11:53 pm

Market Cap 2,83,081 Cr.
Current Price 10,132
Intrinsic Value₹3,802.73
High / Low 10,481/7,556
Stock P/E31.7
Book Value 1,223
Dividend Yield2.07 %
ROCE28.1 %
ROE22.8 %
Face Value 10.0
PEG Ratio3.80

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

View Share Price Target for Bajaj Auto Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bajaj Auto Ltd 2,83,081 Cr. 10,132 10,481/7,55631.7 1,2232.07 %28.1 %22.8 % 10.0
Eicher Motors Ltd 2,01,005 Cr. 7,329 8,233/5,20137.2 8050.96 %29.8 %24.1 % 1.00
TVS Motor Company Ltd 1,66,110 Cr. 3,496 3,970/2,62557.0 1710.34 %15.4 %28.4 % 1.00
Hero MotoCorp Ltd 1,01,347 Cr. 5,066 6,390/3,71018.3 1,0503.26 %30.3 %23.1 % 2.00
Atul Auto Ltd 1,379 Cr. 497 554/38038.7 1630.00 %6.48 %4.99 % 5.00
Industry Average150,584.40 Cr5,304.0036.58682.401.33%22.02%20.68%3.80

All Competitor Stocks of Bajaj Auto Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 9,3198,92910,31210,83812,16511,55511,93213,24713,16912,64613,13315,73516,204
Expenses 7,5617,2728,3808,7089,7509,2719,56211,17410,41810,28910,34012,90612,475
Operating Profit 1,7571,6571,9322,1302,4152,2842,3702,0732,7512,3582,7932,8293,730
OPM % 19%19%19%20%20%20%20%16%21%19%21%18%23%
Other Income 271595351552356444335399348392509576359
Interest 81612712304775120147224287314
Depreciation 7576879293939598102119118119119
Profit before tax 1,9452,1602,1842,5842,6662,6062,5642,2992,8762,4842,9612,9993,656
Tax % 24%21%25%22%24%23%24%40%24%27%25%29%25%
Net Profit 1,4731,7051,6442,0202,0332,0111,9421,3852,1961,8022,2102,1222,750
EPS in Rs 52.0560.2558.1171.3971.7872.0569.5549.6178.6264.5279.1575.9998.38

Last Updated: February 6, 2026, 2:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 12:35 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 20,13721,59522,57421,75525,21030,35829,91927,74133,14536,45544,87050,99557,719
Expenses 15,97417,46717,78117,32620,36425,16024,80922,80327,88629,99136,10641,44046,010
Operating Profit 4,1634,1284,7934,4294,8465,1985,1094,9385,2596,4658,7659,55511,709
OPM % 21%19%21%20%19%17%17%18%16%18%20%19%20%
Other Income 6742281,1941,4681,4042,0281,8321,5702,6711,7031,7001,4721,836
Interest 1611143794060389971
Depreciation 181267307307315266246259270286365414475
Profit before tax 4,6554,0835,6795,5885,9336,9566,6926,2417,6527,84210,04010,22412,100
Tax % 31%31%28%27%29%29%22%22%19%23%23%28%
Net Profit 3,3803,0264,0614,0794,2194,9285,2124,8576,1666,0607,7087,3258,884
EPS in Rs 116.82104.56140.35140.98145.80170.29180.11167.85213.08214.17276.10262.29318.04
Dividend Payout % 43%48%39%39%41%35%67%83%66%65%29%80%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-10.47%34.20%0.44%3.43%16.80%5.76%-6.81%26.95%-1.72%27.19%-4.97%
Change in YoY Net Profit Growth (%)0.00%44.68%-33.76%2.99%13.37%-11.04%-12.57%33.76%-28.67%28.91%-32.16%

Bajaj Auto Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:11%
3 Years:15%
TTM:12%
Compounded Profit Growth
10 Years:9%
5 Years:7%
3 Years:10%
TTM:-5%
Stock Price CAGR
10 Years:15%
5 Years:26%
3 Years:32%
1 Year:-17%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:23%
Last Year:23%

Last Updated: September 5, 2025, 12:15 am

Balance Sheet

Last Updated: December 4, 2025, 1:00 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 289289289289289289289289289283279279279
Reserves 9,87810,80613,73117,56720,13622,94421,37326,98429,57029,07928,68334,90933,891
Borrowings 591121181201211251261211231241,9129,36419,693
Other Liabilities 5,0814,7583,1023,6614,5955,4764,7226,2075,1295,6518,4709,55711,593
Total Liabilities 15,30815,96617,24021,63825,14128,83426,51033,60235,11135,13639,34454,11065,456
Fixed Assets 2,6602,4482,0262,0021,8781,7641,6991,6681,8362,8423,2173,6773,661
CWIP 1442555242564860167785356158
Investments 8,4488,98511,06715,47718,89520,60319,91424,68726,63426,18328,08728,91428,973
Other Assets 4,0564,2774,0954,1174,3126,4204,8377,2326,5646,0268,00521,45932,764
Total Assets 15,30815,96617,24021,63825,14128,83426,51033,60235,11135,13639,34454,11065,456

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,5022,1143,6903,2674,3282,4873,8503,1204,1975,2776,558-1,406
Cash from Investing Activity + -2,072-380-68-3,610-1,954-2731,766-2,8692761,211-72-1,053
Cash from Financing Activity + -1,496-1,644-3,384-190-1,885-2,074-6,247-20-4,056-7,181-6,1674,230
Net Cash Flow -6690238-532488140-630231417-6923191,771
Free Cash Flow 3,2481,8193,4193,0704,1452,3793,5702,8663,6804,3045,847-2,273
CFO/OP 116%82%115%108%124%86%108%90%112%111%102%14%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-55.00-108.00-114.00-116.00-117.00-120.00-121.00-117.00-118.00-118.007.000.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 141212162231213617181715
Inventory Days 172017181616182818221922
Days Payable 564349566863568554586466
Cash Conversion Cycle -24-11-20-22-31-17-16-22-19-18-28-29
Working Capital Days -34-22-4-2-21-4-9-0-3-9-30-6
ROCE %50%40%45%35%31%30%30%25%23%27%34%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.99%54.99%54.99%54.95%55.06%55.06%55.04%55.04%55.03%55.04%55.04%54.99%
FIIs 12.35%13.67%14.37%14.64%14.53%14.19%14.32%12.45%11.61%10.30%9.66%8.84%
DIIs 10.79%9.56%9.03%8.66%8.47%8.73%8.67%9.98%10.92%12.01%12.78%14.07%
Government 0.07%0.07%0.07%0.07%0.08%0.08%0.08%0.08%0.08%0.08%0.00%0.00%
Public 21.79%21.72%21.54%21.67%21.88%21.92%21.89%22.44%22.32%22.53%22.51%22.01%
Others 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.03%0.01%0.09%
No. of Shareholders 2,09,0762,02,9281,96,5432,00,7952,97,6052,74,9562,69,6983,47,6553,44,3143,58,8063,57,6663,33,792

Shareholding Pattern Chart

No. of Shareholders

Bajaj Auto Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 2,000,000 1.97 1919.5N/AN/AN/A
HDFC Large Cap Fund 1,195,927 2.9 1147.79N/AN/AN/A
ICICI Prudential Multi Asset Fund 960,625 1.14 921.96697,8352026-02-23 02:51:2237.66%
SBI Contra Fund 651,816 1.28 625.58N/AN/AN/A
HDFC Focused Fund 600,000 2.19 575.85N/AN/AN/A
Quant ELSS Tax Saver Fund 515,895 4.22 495.13N/AN/AN/A
HDFC ELSS Tax Saver Fund 475,000 2.72 455.88385,0002025-12-08 01:28:3623.38%
ICICI Prudential Large Cap Fund 438,370 0.55 420.73289,7002025-12-15 01:15:5851.32%
Aditya Birla Sun Life Large Cap Fund 410,218 1.3 393.71N/AN/AN/A
HDFC Balanced Advantage Fund 391,786 0.35 376.02N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 262.40272.70212.50213.20167.90
Diluted EPS (Rs.) 262.00272.70212.50213.20167.90
Cash EPS (Rs.) 309.91279.58205.57202.37166.22
Book Value[Excl.RevalReserv]/Share (Rs.) 1260.071037.411037.661031.89942.51
Book Value[Incl.RevalReserv]/Share (Rs.) 1260.071037.411037.661031.89942.51
Revenue From Operations / Share (Rs.) 1826.061607.221288.361145.41958.67
PBDIT / Share (Rs.) 427.63365.27269.93225.80214.30
PBIT / Share (Rs.) 412.80352.20259.83216.48205.33
PBT / Share (Rs.) 391.31350.04258.44244.40205.10
Net Profit / Share (Rs.) 295.07266.52195.47193.05157.26
NP After MI And SOA / Share (Rs.) 262.29276.10214.17213.08167.85
PBDIT Margin (%) 23.4122.7220.9519.7122.35
PBIT Margin (%) 22.6021.9120.1618.8921.41
PBT Margin (%) 21.4221.7720.0521.3321.39
Net Profit Margin (%) 16.1516.5815.1716.8516.40
NP After MI And SOA Margin (%) 14.3617.1716.6218.6017.50
Return on Networth / Equity (%) 20.8126.6120.6320.6417.80
Return on Capital Employeed (%) 27.0532.5024.6120.5921.25
Return On Assets (%) 13.5119.5917.2417.5614.45
Long Term Debt / Equity (X) 0.170.020.000.000.00
Total Debt / Equity (X) 0.260.060.000.000.00
Asset Turnover Ratio (%) 1.091.201.101.010.95
Current Ratio (X) 1.681.301.832.212.51
Quick Ratio (X) 1.501.111.531.952.25
Inventory Turnover Ratio (X) 27.0827.5918.2716.2714.32
Dividend Payout Ratio (NP) (%) 30.4951.3966.8465.700.00
Dividend Payout Ratio (CP) (%) 28.8549.0663.8362.940.00
Earning Retention Ratio (%) 69.5148.6133.1634.300.00
Cash Earning Retention Ratio (%) 71.1550.9436.1737.060.00
Interest Coverage Ratio (X) 30.71168.95193.32754.51931.10
Interest Coverage Ratio (Post Tax) (X) 22.73124.27140.99551.79684.29
Enterprise Value (Cr.) 226289.42256137.91109206.95104734.34105709.15
EV / Net Operating Revenue (X) 4.445.713.003.163.81
EV / EBITDA (X) 18.9525.1214.3016.0317.05
MarketCap / Net Operating Revenue (X) 4.315.693.013.193.83
Retention Ratios (%) 69.5048.6033.1534.290.00
Price / BV (X) 6.258.823.743.543.90
Price / Net Operating Revenue (X) 4.315.693.013.193.83
EarningsYield 0.030.030.050.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 50010.31 Cr. and Equity Capital is Rs. 279.26 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - 2 & 3 WheelersMumbai-Pune Road, Mumbai Maharashtra 411035Contact not found
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
Ms. Vinita BaliDirector
Mr. Anami N RoyDirector
Dr. Naushad ForbesDirector
Mr. Pradip ShahDirector
Dr. Sangita ReddyDirector

FAQ

What is the intrinsic value of Bajaj Auto Ltd and is it undervalued?

As of 05 May 2026, Bajaj Auto Ltd's intrinsic value is ₹3897.94, which is 61.53% lower than the current market price of ₹10,132.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (22.8 %), book value (₹1,223), dividend yield (2.07 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bajaj Auto Ltd?

Bajaj Auto Ltd is trading at ₹10,132.00 as of 05 May 2026, with a FY2026-2027 high of ₹10,481 and low of ₹7,556. The stock is currently near its 52-week high. Market cap stands at ₹2,83,081 Cr..

How does Bajaj Auto Ltd's P/E ratio compare to its industry?

Bajaj Auto Ltd has a P/E ratio of 31.7, which is below the industry average of 36.58. This is broadly in line with or below the industry average.

Is Bajaj Auto Ltd financially healthy?

Key indicators for Bajaj Auto Ltd: ROCE of 28.1 % indicates efficient capital utilization; ROE of 22.8 % shows strong shareholder returns. Dividend yield is 2.07 %.

Is Bajaj Auto Ltd profitable and how is the profit trend?

Bajaj Auto Ltd reported a net profit of ₹7,325 Cr in Mar 2025 on revenue of ₹50,995 Cr. Compared to ₹6,166 Cr in Mar 2022, the net profit shows an improving trend.

Does Bajaj Auto Ltd pay dividends?

Bajaj Auto Ltd has a dividend yield of 2.07 % at the current price of ₹10,132.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: May 4, 2026, 11:53 pm
Author: Getaka|Social: XLinkedIn
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 Bajaj Auto Ltd. 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
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