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Bajaj Auto Ltd.

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bajajauto.comBSE: 532977NSE: BAJAJ-AUTO
Market Cap₹ 3,21,081 Cr.
Current Price
High / Low₹ 12,470 / 8,492
Stock P/E27.3
Book Value₹ 1,318
Price to Book6.34
Dividend Yield1.28 %
ROCE28.7 %
ROE28.7 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Automotive: 93.0% • Financing: 5.0% • Investments: 2.0%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence
74%
View full sector analysis →

PROS

  • Company has a healthy return on capital (ROCE) of 30.1%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 44.3% YoY, showing strong momentum
  • Company has delivered good sales growth of 17.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 39.0%

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.30x)
  • Total debt has risen sharply - up 135.5% year on year
  • Stock is trading at 6.3x its book value
  • Inventory has been piling up - inventory days up from 13 to 24

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAutomobile Two & Three Wheelers
Part ofNIFTY 100NIFTY 50NIFTY 500NIFTY ALPHALOWVOLNIFTY AUTO
S.No.Name
1.BAJAJ-AUTO11684.0027.30321080.801.283188.7544.2621688.8371.5028.6820.88
2.EICHERMOT7540.0035.86206989.371.091462.5121.356632.4234.1130.5426.51
3.TVSMOTOR4127.5057.21196092.210.291057.6164.5216295.5233.4618.2414.38
4.HEROMOTOCO5225.0019.19104573.783.541417.93-91.6913126.3534.9435.9212.97
5.ATHERENERG1655.500.0065657.750.00-510.90—12169.20—-21.59-2.73
6.OLAELEC38.560.0017847.140.00-336.0021.50455.00-45.05-20.87-36.26
7.ATULAUTO447.0526.261240.620.678.04290.29218.4344.7311.277.72
8.URJA9.02459.41502.600.000.43-55.4213.96-26.551.403.99
9.WARDINMOBI5.74183.30172.670.000.17-84.7761.6491.0212.486.17
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
10,05610,58511,89211,25011,55812,81612,68912,20412,64715,25415,37817,10821,689
8,3808,7089,7509,2719,56210,59410,4189,95310,34012,27212,47514,75717,950
Operating Profit1,6761,8772,1421,9791,9962,2222,2712,2512,3062,9822,9042,3513,739
OPM %16.67%17.73%18.01%17.59%17.27%17.34%17.90%18.44%18.24%19.55%18.88%13.74%17.24%
351369356360335399348392509576359699688
Interest12712304775120147224287314344387
Depreciation879293939598102119118119119289405
Profit before Tax2,1842,4002,6662,5222,5642,8792,8762,8192,9613,6333,6563,1414,423
Tax %24.72%23.50%23.76%23.57%24.26%31.73%23.67%24.20%25.34%24.13%24.79%26.87%27.91%
Net Profit00001,9421,3852,1961,8022,2102,1222,75034,9223,189
58.1071.4071.9071.2069.6049.7078.7064.6079.2076.0098.50131.10115.50

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
21,76725,21930,35829,91927,74133,14536,45544,87050,99562,90569,429
17,34920,38325,16824,82322,82227,91730,00736,14940,53249,85057,453
Operating Profit4,4184,8365,1905,0964,9195,2286,4498,72110,46313,05511,975
OPM %20.30%19.17%17.09%17.03%17.73%15.77%17.69%19.44%20.52%20.75%17.25%
1,2231,1261,6861,5251,2822,1231,1901,4761,4792,1492,322
Interest11437940603891,1691,332
Depreciation307315266246259270286365414645932
Profit before Tax5,5885,9336,9566,6926,2417,6527,84210,04010,22413,95214,854
Tax %26.99%28.90%29.16%22.12%22.18%19.42%22.72%23.23%28.35%24.21%26.00%
Net Profit4,0794,2194,9285,2124,8576,1666,0607,7087,32510,57410,992
EPS141.00145.80170.30180.20167.90213.20212.50276.10262.29384.41—
Dividend Payout %39.01%41.15%35.23%66.63%83.41%65.70%65.37%28.97%80.06%39.02%—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
18%
3 Years:
20%

COMPOUNDED PROFIT GROWTH

10 Years:
10%
5 Years:
17%
3 Years:
21%

STOCK PRICE CAGR

10 Years:
15%
5 Years:
26%
3 Years:
34%
1 Year:
28%

RETURN ON EQUITY

10 Years:
23%
5 Years:
24%
3 Years:
26%
Last Year:
29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Jun 24

₹ 12000.00

Buy Back of Shares

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital289289289289289289283279279280
Minority Interest0000000001,388
17,56720,13622,94421,36326,96729,53829,01628,58134,81038,389
1761691701681611591581,9437,08916,864
Trade Payables2,2363,2443,7873,2004,5743,6324,1215,5816,3738,804
1,3691,3031,6441,4901,6101,4931,5582,9695,55911,189
Total Liabilities21,63825,14128,83426,51033,60235,11135,13639,35254,11076,914
1,9431,8211,7081,6451,6151,7852,7923,1683,62911,913
Capital Work in Progress111112471677852829120
15,47718,89520,60319,91424,68726,63426,18326,73528,91424,642
7287439621,0641,4941,2311,5641,6892,0776,294
00000002,0762,1253,473
Cash & Bank3017939333165399586902,0372,8483,072
3,1772,8794,6173,5255,2514,4263,8223,61914,48827,399
Total Assets21,63825,14128,83426,51033,60235,11135,13639,35254,11076,914

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
4,7706,0134,4515,5284,4605,8997,1966,552-1,4062,597
Cash from Investing-3,683-2,053-3381,556-2,868-811,200-344-1,056-7,034
Cash from Financing-190-1,885-2,074-6,247-20-4,056-7,181-6,1614,2305,079
-60638974-84023260-704471,768642

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
55.0655.0455.0455.0455.0455.0454.9955.0155.01
14.1914.3212.4511.6110.309.658.838.829.00
8.738.679.9810.9212.0112.7113.9614.3513.42
Government0.000.000.000.000.000.000.000.000.00
21.9321.8822.4522.3622.5622.5222.1121.7022.44

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01
Credit Rating

2026-09-01 - Bajaj Auto Limited has informed the Exchange about Credit Rating

2026-09-01
Press Release

2026-09-01 - Bajaj Auto Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "Sales for the month of August 2026".

2026-08-27
General Updates

2026-08-27 - BAJAJ-AUTO: Bajaj Auto Limited has informed the Exchange about ad hoc announcement made by Bajaj Mobility AG (formerly PIERER Mobility AG), a step-down subsidiary of Bajaj Auto Limited titled Results of the First Half of 2026

2026-08-21
Credit Rating- New

2026-08-21 - Bajaj Auto Limited has informed the Exchange about Credit Rating- New

2026-08-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet

2026-08-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet

2026-08-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet

2026-08-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet

2026-08-03
Press Release

2026-08-03 - Bajaj Auto Limited has informed the Exchange regarding a press release dated August 03, 2026, titled "Sales for the month of July 2026".

News

Recent coverage and analyst commentary for BAJAJ-AUTO

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