Bajaj Auto Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
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.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 38.2%
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.3%
- Latest quarter profit grew 42.3% YoY, showing strong momentum
- Company has delivered good sales growth of 16.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.93x)
CONS
- Stock is trading at 7.0x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJ-AUTO | 11795.00 | 27.56 | 324131.13 | 1.27 | 3188.75 | 44.26 | 21688.83 | 71.50 | 28.68 | 20.88 |
| EICHERMOT | 7749.70 | 36.85 | 212746.09 | 1.06 | 1462.51 | 21.35 | 6632.42 | 34.11 | 30.54 | 26.51 |
| TVSMOTOR | 4152.00 | 57.55 | 197256.17 | 0.29 | 1057.61 | 64.52 | 16295.52 | 33.46 | 18.24 | 14.38 |
| HEROMOTOCO | 5238.00 | 19.24 | 104833.96 | 3.53 | 1417.93 | -91.69 | 13126.35 | 34.94 | 35.92 | 12.97 |
| ATHERENERG | 1583.00 | 0.00 | 62782.37 | 0.00 | -510.90 | — | 12169.20 | — | -21.59 | -2.73 |
| OLAELEC | 37.31 | 0.00 | 17268.59 | 0.00 | -336.00 | 21.50 | 455.00 | -45.05 | -20.87 | -36.26 |
| ATULAUTO | 456.50 | 26.82 | 1266.85 | 0.66 | 8.04 | 290.29 | 218.43 | 44.73 | 11.27 | 7.72 |
| URJA | 9.06 | 461.45 | 504.83 | 0.00 | 0.43 | -55.42 | 13.96 | -26.55 | 1.40 | 3.99 |
| WARDINMOBI | 5.74 | 183.30 | 172.67 | 0.00 | 0.17 | -84.77 | 61.64 | 91.02 | 12.48 | 6.17 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,049 | 10,519 | 11,833 | 11,178 | 11,547 | 12,688 | 12,317 | 11,695 | 12,082 | 14,424 | 14,382 | 15,226 | 17,244 | |
| 8,356 | 8,644 | 9,684 | 9,178 | 9,513 | 10,475 | 10,226 | 9,697 | 10,103 | 11,870 | 12,060 | 12,683 | 13,771 | |
| Operating Profit | 1,693 | 1,875 | 2,149 | 2,000 | 2,035 | 2,213 | 2,090 | 1,998 | 1,979 | 2,554 | 2,322 | 2,543 | 3,473 |
| OPM % | 16.85% | 17.82% | 18.16% | 17.89% | 17.62% | 17.44% | 16.97% | 17.08% | 16.38% | 17.70% | 16.15% | 16.70% | 20.14% |
| 346 | 361 | 346 | 349 | 321 | 385 | 335 | 381 | 431 | 369 | 281 | 459 | 512 | |
| Interest | 12 | 7 | 12 | 23 | 21 | 16 | 14 | 17 | 14 | 14 | 3 | 5 | 4 |
| Depreciation | 84 | 88 | 88 | 91 | 94 | 96 | 100 | 111 | 111 | 112 | 112 | 114 | 118 |
| Profit before Tax | 2,205 | 2,400 | 2,676 | 2,542 | 2,622 | 2,925 | 2,801 | 2,703 | 2,788 | 3,295 | 3,327 | 3,663 | 3,985 |
| Tax % | 24.49% | 23.50% | 23.69% | 23.83% | 24.16% | 31.46% | 24.73% | 24.20% | 24.81% | 24.74% | 24.76% | 25.02% | 25.14% |
| Net Profit | 1,665 | 1,836 | 2,042 | 1,936 | 1,988 | 2,005 | 2,109 | 2,049 | 2,096 | 2,480 | 2,503 | 2,746 | 2,983 |
| 58.90 | 64.90 | 72.20 | 68.50 | 71.20 | 71.90 | 75.50 | 73.40 | 75.10 | 88.80 | 89.70 | 98.30 | 106.80 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 21,767 | 25,219 | 30,358 | 29,919 | 27,741 | 33,145 | 36,428 | 44,685 | 50,010 | 58,732 | 61,276 | |
| 17,346 | 20,581 | 25,165 | 24,822 | 22,818 | 27,908 | 29,880 | 35,903 | 39,916 | 46,722 | 50,384 | |
| Operating Profit | 4,421 | 4,638 | 5,192 | 5,096 | 4,923 | 5,237 | 6,547 | 8,782 | 10,094 | 12,010 | 10,892 |
| OPM % | 20.31% | 18.39% | 17.10% | 17.03% | 17.75% | 15.80% | 17.97% | 19.65% | 20.18% | 20.45% | 17.77% |
| 1,223 | 1,461 | 1,781 | 1,734 | 1,282 | 1,547 | 1,183 | 1,443 | 1,426 | 1,545 | 1,620 | |
| Interest | 1 | 1 | 4 | 3 | 7 | 9 | 39 | 54 | 68 | 36 | 26 |
| Depreciation | 307 | 315 | 266 | 246 | 259 | 269 | 282 | 350 | 400 | 448 | 455 |
| Profit before Tax | 5,336 | 5,783 | 6,703 | 6,580 | 5,939 | 6,505 | 7,409 | 9,822 | 11,052 | 13,072 | 14,269 |
| Tax % | 28.26% | 29.65% | 30.25% | 22.50% | 23.31% | 22.85% | 24.04% | 23.86% | 26.24% | 24.84% | 24.93% |
| Net Profit | 3,828 | 4,068 | 4,675 | 5,100 | 4,555 | 5,019 | 5,628 | 7,479 | 8,151 | 9,825 | 10,712 |
| EPS | 132.30 | 140.60 | 161.60 | 176.30 | 157.50 | 173.60 | 197.30 | 267.88 | 291.89 | 351.51 | — |
| Dividend Payout % | 41.58% | 42.68% | 37.14% | 68.09% | 88.95% | 80.72% | 70.39% | 29.86% | 71.94% | 42.67% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 16%
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 17%
- 3 Years:
- 20%
STOCK PRICE CAGR
- 10 Years:
- 15%
- 5 Years:
- 26%
- 3 Years:
- 35%
- 1 Year:
- 27%
RETURN ON EQUITY
- 10 Years:
- 24%
- 5 Years:
- 26%
- 3 Years:
- 29%
- Last Year:
- 29%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 283 | 279 | 279 | 280 |
| 16,745 | 18,814 | 21,491 | 19,626 | 24,896 | 26,347 | 25,081 | 24,479 | 31,768 | 34,532 | |
| 176 | 169 | 170 | 168 | 161 | 159 | 158 | 991 | 956 | 99 | |
| Trade Payables | 2,236 | 3,244 | 3,787 | 3,200 | 4,574 | 3,633 | 4,074 | 5,594 | 6,268 | 7,356 |
| 1,369 | 1,303 | 1,644 | 1,490 | 1,610 | 1,493 | 1,532 | 2,916 | 3,158 | 3,620 | |
| Total Liabilities | 20,815 | 23,819 | 27,380 | 24,773 | 31,530 | 31,922 | 31,128 | 34,259 | 42,429 | 45,886 |
| 1,943 | 1,821 | 1,708 | 1,645 | 1,613 | 1,783 | 2,666 | 3,150 | 3,503 | 3,484 | |
| Capital Work in Progress | 11 | 11 | 12 | 47 | 16 | 77 | 82 | 24 | 26 | 43 |
| 14,731 | 17,588 | 19,159 | 18,196 | 22,631 | 23,819 | 22,923 | 23,451 | 28,570 | 30,113 | |
| 728 | 743 | 962 | 1,064 | 1,494 | 1,231 | 1,398 | 1,696 | 1,958 | 2,354 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,122 | 2,283 | 2,712 | |
| Cash & Bank | 294 | 778 | 923 | 308 | 527 | 588 | 286 | 1,578 | 1,329 | 1,301 |
| 3,107 | 2,878 | 4,617 | 3,514 | 5,249 | 4,425 | 3,773 | 2,238 | 4,761 | 5,878 | |
| Total Assets | 20,815 | 23,819 | 27,380 | 24,773 | 31,530 | 31,922 | 31,128 | 34,259 | 42,429 | 45,886 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4,842 | 5,946 | 4,454 | 5,539 | 4,454 | 5,909 | 7,430 | 7,478 | 7,267 | 8,961 | |
| Cash from Investing | -3,688 | -1,918 | -244 | 1,755 | -2,865 | -96 | 1,334 | -139 | -3,641 | -1,936 |
| Cash from Financing | -190 | -1,885 | -2,074 | -6,247 | -20 | -4,056 | -7,179 | -7,110 | -3,254 | -6,617 |
| -539 | 458 | 171 | -630 | 229 | 55 | -333 | 229 | 372 | 408 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Bajaj Auto Limited has informed the Exchange about Credit Rating
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 - 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 - Bajaj Auto Limited has informed the Exchange about Credit Rating- New
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
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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Bajaj Auto Ltd.
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