Bajaj Auto Ltd.
•2026-08-21
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BAJAJ-AUTO | 11700.00 | 27.34 | 321520.49 | 1.28 | 3188.75 | 44.26 | 21688.83 | 71.50 | 28.68 | 20.88 |
| 2. | EICHERMOT | 7961.75 | 37.86 | 218567.32 | 1.03 | 1462.51 | 21.35 | 6632.42 | 34.11 | 30.54 | 26.51 |
| 3. | TVSMOTOR | 4362.00 | 60.46 | 207233.00 | 0.28 | 1057.61 | 64.52 | 16295.52 | 33.46 | 18.24 | 14.38 |
| 4. | HEROMOTOCO | 5695.00 | 20.92 | 113980.42 | 3.25 | 1417.93 | -91.69 | 13126.35 | 34.94 | 35.92 | 12.97 |
| 5. | ATHERENERG | 1463.90 | 0.00 | 56753.76 | 0.00 | -510.90 | — | 12169.20 | — | -21.59 | -2.73 |
| 6. | OLAELEC | 37.28 | 0.00 | 17254.71 | 0.00 | -336.00 | 21.50 | 455.00 | -45.05 | -30.33 | -36.26 |
| 7. | ATULAUTO | 489.10 | 28.73 | 1357.32 | 0.61 | 8.04 | 290.29 | 218.43 | 44.73 | 6.60 | 7.72 |
| 8. | URJA | 9.33 | 475.20 | 519.87 | 0.00 | 0.43 | -55.42 | 13.96 | -26.55 | 1.47 | 3.99 |
| 9. | WARDINMOBI | 6.25 | 199.59 | 188.01 | 0.00 | 0.17 | -84.77 | 61.64 | 91.02 | 12.48 | 6.17 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,056 | 10,585 | 11,892 | 11,250 | 11,558 | 12,816 | 12,689 | 12,204 | 12,647 | 15,254 | 15,378 | 17,108 | 21,689 | |
| 8,380 | 8,708 | 9,750 | 9,271 | 9,562 | 10,594 | 10,418 | 9,953 | 10,340 | 12,272 | 12,475 | 14,757 | 17,950 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 351 | 369 | 356 | 360 | 335 | 399 | 348 | 392 | 509 | 576 | 436 | 661 | 688 |
| Interest | 12 | 7 | 12 | 30 | 47 | 75 | 120 | 147 | 224 | 287 | 314 | 344 | 387 |
| Depreciation | 87 | 92 | 93 | 93 | 95 | 98 | 102 | 119 | 118 | 119 | 119 | 289 | 405 |
| 2,184 | 2,400 | 2,666 | 2,522 | 2,564 | 2,879 | 2,876 | 2,819 | 2,961 | 3,633 | 3,656 | 3,141 | 4,423 | |
| 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 Profit | 0 | 0 | 0 | 0 | 1,942 | 1,385 | 2,196 | 1,802 | 2,210 | 2,122 | 2,750 | 34,922 | 3,189 |
| 58 | 71 | 72 | 71 | 70 | 50 | 79 | 65 | 79 | 76 | 98 | 131 | 12 | |
| Equity Capital | 283 | 283 | 283 | 279 | 279 | 279 | 279 | 279 | 279 | 279 | 280 | 280 | 280 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 283 | 283 | 283 | 279 | 279 | 279 | 279 | 279 | 279 | 279 | 280 | 280 | 280 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 10,056
- 8,380
- Operating Profit
- —
- OPM %
- —
- Other Income
- 351
- Interest
- 12
- Depreciation
- 87
- 2,184
- Tax %
- 24.72%
- Net Profit
- 0
- 58
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 10,585
- 8,708
- Operating Profit
- —
- OPM %
- —
- Other Income
- 369
- Interest
- 7
- Depreciation
- 92
- 2,400
- Tax %
- 23.50%
- Net Profit
- 0
- 71
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 11,892
- 9,750
- Operating Profit
- —
- OPM %
- —
- Other Income
- 356
- Interest
- 12
- Depreciation
- 93
- 2,666
- Tax %
- 23.76%
- Net Profit
- 0
- 72
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 283
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 11,250
- 9,271
- Operating Profit
- —
- OPM %
- —
- Other Income
- 360
- Interest
- 30
- Depreciation
- 93
- 2,522
- Tax %
- 23.57%
- Net Profit
- 0
- 71
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 11,558
- 9,562
- Operating Profit
- —
- OPM %
- —
- Other Income
- 335
- Interest
- 47
- Depreciation
- 95
- 2,564
- Tax %
- 24.26%
- Net Profit
- 1,942
- 70
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,816
- 10,594
- Operating Profit
- —
- OPM %
- —
- Other Income
- 399
- Interest
- 75
- Depreciation
- 98
- 2,879
- Tax %
- 31.73%
- Net Profit
- 1,385
- 50
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,689
- 10,418
- Operating Profit
- —
- OPM %
- —
- Other Income
- 348
- Interest
- 120
- Depreciation
- 102
- 2,876
- Tax %
- 23.67%
- Net Profit
- 2,196
- 79
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,204
- 9,953
- Operating Profit
- —
- OPM %
- —
- Other Income
- 392
- Interest
- 147
- Depreciation
- 119
- 2,819
- Tax %
- 24.20%
- Net Profit
- 1,802
- 65
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 12,647
- 10,340
- Operating Profit
- —
- OPM %
- —
- Other Income
- 509
- Interest
- 224
- Depreciation
- 118
- 2,961
- Tax %
- 25.34%
- Net Profit
- 2,210
- 79
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 15,254
- 12,272
- Operating Profit
- —
- OPM %
- —
- Other Income
- 576
- Interest
- 287
- Depreciation
- 119
- 3,633
- Tax %
- 24.13%
- Net Profit
- 2,122
- 76
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 279
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 15,378
- 12,475
- Operating Profit
- —
- OPM %
- —
- Other Income
- 436
- Interest
- 314
- Depreciation
- 119
- 3,656
- Tax %
- 24.79%
- Net Profit
- 2,750
- 98
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 17,108
- 14,757
- Operating Profit
- —
- OPM %
- —
- Other Income
- 661
- Interest
- 344
- Depreciation
- 289
- 3,141
- Tax %
- 26.87%
- Net Profit
- 34,922
- 131
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 21,689
- 17,950
- Operating Profit
- —
- OPM %
- —
- Other Income
- 688
- Interest
- 387
- Depreciation
- 405
- 4,423
- Tax %
- 27.91%
- Net Profit
- 3,189
- 12
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 280
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 36,455 | 44,870 | 50,995 | 62,905 | 69,429 | |
| 17,349 | 20,383 | 25,168 | 24,823 | 22,822 | 27,917 | 30,007 | 36,149 | 40,532 | 49,850 | 57,453 | |
| Operating Profit | 5,642 | 5,994 | 6,534 | 6,620 | 6,201 | 6,534 | 7,638 | 10,198 | 11,942 | 15,243 | — |
| OPM % | 26 | 24 | 22 | 22 | 22 | 20 | 21 | 23 | 23 | 24 | — |
| Other Income | 1,223 | 1,158 | 1,344 | 1,525 | 1,282 | 1,306 | 1,190 | 1,476 | 1,479 | 2,188 | 2,361 |
| Interest | 1 | 1 | 4 | 3 | 7 | 9 | 40 | 60 | 389 | 1,169 | 1,332 |
| Depreciation | 307 | 315 | 266 | 246 | 259 | 270 | 286 | 365 | 414 | 645 | 932 |
| 5,588 | 5,933 | 6,956 | 6,692 | 6,241 | 7,652 | 7,842 | 10,040 | 10,224 | 13,952 | 14,854 | |
| Tax % | 27 | 29 | 29 | 22 | 22 | 19 | 23 | 23 | 28 | 24 | 26 |
| Net Profit | 4,079 | 4,219 | 4,928 | 5,212 | 4,857 | 6,166 | 6,060 | 7,708 | 7,325 | 10,574 | 10,992 |
| EPS | 141 | 146 | 170 | 180 | 168 | 213 | 212 | 276 | 262 | 384 | — |
| Dividend Payout % | 39 | 41 | 35 | 67 | 83 | 66 | 65 | 29 | 80 | 39 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 170 | -35 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 557 |
| Adjusted EPS | 141 | 146 | 170 | 180 | 168 | 213 | 214 | 276 | 262 | 384 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 170 | -35 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 557 |
| Adjusted EPS | 141 | 146 | 170 | 180 | 168 | 213 | 214 | 276 | 262 | 384 | — |
- 21,767
- 17,349
- Operating Profit
- 5,642
- OPM %
- 26
- Other Income
- 1,223
- Interest
- 1
- Depreciation
- 307
- 5,588
- Tax %
- 27
- Net Profit
- 4,079
- EPS
- 141
- Dividend Payout %
- 39
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 141
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 141
- 25,219
- 20,383
- Operating Profit
- 5,994
- OPM %
- 24
- Other Income
- 1,158
- Interest
- 1
- Depreciation
- 315
- 5,933
- Tax %
- 29
- Net Profit
- 4,219
- EPS
- 146
- Dividend Payout %
- 41
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 146
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 146
- 30,358
- 25,168
- Operating Profit
- 6,534
- OPM %
- 22
- Other Income
- 1,344
- Interest
- 4
- Depreciation
- 266
- 6,956
- Tax %
- 29
- Net Profit
- 4,928
- EPS
- 170
- Dividend Payout %
- 35
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 170
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 170
- 29,919
- 24,823
- Operating Profit
- 6,620
- OPM %
- 22
- Other Income
- 1,525
- Interest
- 3
- Depreciation
- 246
- 6,692
- Tax %
- 22
- Net Profit
- 5,212
- EPS
- 180
- Dividend Payout %
- 67
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 180
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 180
- 27,741
- 22,822
- Operating Profit
- 6,201
- OPM %
- 22
- Other Income
- 1,282
- Interest
- 7
- Depreciation
- 259
- 6,241
- Tax %
- 22
- Net Profit
- 4,857
- EPS
- 168
- Dividend Payout %
- 83
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 168
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 168
- 33,145
- 27,917
- Operating Profit
- 6,534
- OPM %
- 20
- Other Income
- 1,306
- Interest
- 9
- Depreciation
- 270
- 7,652
- Tax %
- 19
- Net Profit
- 6,166
- EPS
- 213
- Dividend Payout %
- 66
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 213
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 213
- 36,455
- 30,007
- Operating Profit
- 7,638
- OPM %
- 21
- Other Income
- 1,190
- Interest
- 40
- Depreciation
- 286
- 7,842
- Tax %
- 23
- Net Profit
- 6,060
- EPS
- 212
- Dividend Payout %
- 65
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 214
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 214
- 44,870
- 36,149
- Operating Profit
- 10,198
- OPM %
- 23
- Other Income
- 1,476
- Interest
- 60
- Depreciation
- 365
- 10,040
- Tax %
- 23
- Net Profit
- 7,708
- EPS
- 276
- Dividend Payout %
- 29
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 276
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 276
- 50,995
- 40,532
- Operating Profit
- 11,942
- OPM %
- 23
- Other Income
- 1,479
- Interest
- 389
- Depreciation
- 414
- 10,224
- Tax %
- 28
- Net Profit
- 7,325
- EPS
- 262
- Dividend Payout %
- 80
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 262
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 262
- 62,905
- 49,850
- Operating Profit
- 15,243
- OPM %
- 24
- Other Income
- 2,188
- Interest
- 1,169
- Depreciation
- 645
- 13,952
- Tax %
- 24
- Net Profit
- 10,574
- EPS
- 384
- Dividend Payout %
- 39
- Minority Interest
- 170
- Share of Associates
- 0
- Adjusted EPS
- 384
- Minority Interest
- 170
- Share of Associates
- 0
- Adjusted EPS
- 384
- 69,429
- 57,453
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2,361
- Interest
- 1,332
- Depreciation
- 932
- 14,854
- Tax %
- 26
- Net Profit
- 10,992
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -35
- Share of Associates
- 557
- Adjusted EPS
- —
- Minority Interest
- -35
- Share of Associates
- 557
- Adjusted EPS
- —
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:
- 37%
- 1 Year:
- 34%
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 24%
- 3 Years:
- 26%
- Last Year:
- 29%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 289 | 289 | 289 | 289 | 289 | 289 | 283 | 279 | 279 | 280 |
| 17,567 | 20,136 | 22,944 | 21,363 | 26,967 | 29,538 | 29,016 | 28,581 | 34,810 | 38,389 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,153 | 800 | 872 | |
| Trade Payables | 2,236 | 3,244 | 3,787 | 3,200 | 4,574 | 3,632 | 4,121 | 5,581 | 6,373 | 8,804 |
| 1,545 | 1,471 | 1,814 | 1,658 | 1,771 | 1,652 | 1,716 | 3,759 | 11,848 | 28,570 | |
| Total Liabilities | 21,638 | 25,141 | 28,834 | 26,510 | 33,602 | 35,111 | 35,136 | 39,352 | 54,110 | 76,914 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,943 | 1,821 | 1,708 | 1,645 | 1,615 | 1,785 | 2,792 | 3,168 | 3,629 | 11,913 | |
| Capital Work in Progress | 11 | 11 | 12 | 47 | 16 | 77 | 85 | 28 | 29 | 120 |
| 15,477 | 18,895 | 20,603 | 19,914 | 24,687 | 26,634 | 26,183 | 26,735 | 28,914 | 24,642 | |
| 728 | 743 | 962 | 1,064 | 1,494 | 1,231 | 1,564 | 1,689 | 2,077 | 6,294 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,076 | 2,125 | 3,473 | |
| Cash & Bank | 301 | 793 | 933 | 316 | 539 | 958 | 690 | 2,037 | 2,848 | 3,072 |
| 3,177 | 2,879 | 4,617 | 3,525 | 5,251 | 4,426 | 3,822 | 3,619 | 14,488 | 27,399 | |
| Total Assets | 21,638 | 25,141 | 28,834 | 26,510 | 33,602 | 35,111 | 35,136 | 39,352 | 54,110 | 76,914 |
| Total Debt | 120 | 121 | 125 | 126 | 121 | 123 | 124 | 1,912 | 9,364 | 22,054 |
| Net Working Capital | 6,256 | 5,139 | 2,199 | 2,363 | 8,544 | 5,677 | 4,380 | 2,748 | 7,862 | 14,639 |
| Contingent Liabilities | 1,934 | 1,720 | 1,785 | 1,627 | 1,564 | 1,583 | 1,615 | 0 | 2,034 | 2,140 |
| Book Value per Share | 617.08 | 705.85 | 802.91 | 748.25 | 941.93 | 1030.77 | 1035.46 | 1033.73 | 1256.51 | 1383.49 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 120 | 121 | 125 | 126 | 121 | 123 | 124 | 1,912 | 9,364 | 22,054 |
| Net Working Capital | 6,256 | 5,139 | 2,199 | 2,363 | 8,544 | 5,677 | 4,380 | 2,748 | 7,862 | 14,639 |
| Contingent Liabilities | 1,934 | 1,720 | 1,785 | 1,627 | 1,564 | 1,583 | 1,615 | 0 | 2,034 | 2,140 |
| Book Value per Share | 617.08 | 705.85 | 802.91 | 748.25 | 941.93 | 1030.77 | 1035.46 | 1033.73 | 1256.51 | 1383.49 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
- Equity Capital
- 289
- 17,567
- 0
- Trade Payables
- 2,236
- 1,545
- Total Liabilities
- 21,638
- 1,943
- Capital Work in Progress
- 11
- 15,477
- 728
- 0
- Cash & Bank
- 301
- 3,177
- Total Assets
- 21,638
- Total Debt
- 120
- Net Working Capital
- 6,256
- Contingent Liabilities
- 1,934
- Book Value per Share
- 617.08
- Face Value
- 10.00
- Total Debt
- 120
- Net Working Capital
- 6,256
- Contingent Liabilities
- 1,934
- Book Value per Share
- 617.08
- Face Value
- 10.00
- Equity Capital
- 289
- 20,136
- 0
- Trade Payables
- 3,244
- 1,471
- Total Liabilities
- 25,141
- 1,821
- Capital Work in Progress
- 11
- 18,895
- 743
- 0
- Cash & Bank
- 793
- 2,879
- Total Assets
- 25,141
- Total Debt
- 121
- Net Working Capital
- 5,139
- Contingent Liabilities
- 1,720
- Book Value per Share
- 705.85
- Face Value
- 10.00
- Total Debt
- 121
- Net Working Capital
- 5,139
- Contingent Liabilities
- 1,720
- Book Value per Share
- 705.85
- Face Value
- 10.00
- Equity Capital
- 289
- 22,944
- 0
- Trade Payables
- 3,787
- 1,814
- Total Liabilities
- 28,834
- 1,708
- Capital Work in Progress
- 12
- 20,603
- 962
- 0
- Cash & Bank
- 933
- 4,617
- Total Assets
- 28,834
- Total Debt
- 125
- Net Working Capital
- 2,199
- Contingent Liabilities
- 1,785
- Book Value per Share
- 802.91
- Face Value
- 10.00
- Total Debt
- 125
- Net Working Capital
- 2,199
- Contingent Liabilities
- 1,785
- Book Value per Share
- 802.91
- Face Value
- 10.00
- Equity Capital
- 289
- 21,363
- 0
- Trade Payables
- 3,200
- 1,658
- Total Liabilities
- 26,510
- 1,645
- Capital Work in Progress
- 47
- 19,914
- 1,064
- 0
- Cash & Bank
- 316
- 3,525
- Total Assets
- 26,510
- Total Debt
- 126
- Net Working Capital
- 2,363
- Contingent Liabilities
- 1,627
- Book Value per Share
- 748.25
- Face Value
- 10.00
- Total Debt
- 126
- Net Working Capital
- 2,363
- Contingent Liabilities
- 1,627
- Book Value per Share
- 748.25
- Face Value
- 10.00
- Equity Capital
- 289
- 26,967
- 0
- Trade Payables
- 4,574
- 1,771
- Total Liabilities
- 33,602
- 1,615
- Capital Work in Progress
- 16
- 24,687
- 1,494
- 0
- Cash & Bank
- 539
- 5,251
- Total Assets
- 33,602
- Total Debt
- 121
- Net Working Capital
- 8,544
- Contingent Liabilities
- 1,564
- Book Value per Share
- 941.93
- Face Value
- 10.00
- Total Debt
- 121
- Net Working Capital
- 8,544
- Contingent Liabilities
- 1,564
- Book Value per Share
- 941.93
- Face Value
- 10.00
- Equity Capital
- 289
- 29,538
- 0
- Trade Payables
- 3,632
- 1,652
- Total Liabilities
- 35,111
- 1,785
- Capital Work in Progress
- 77
- 26,634
- 1,231
- 0
- Cash & Bank
- 958
- 4,426
- Total Assets
- 35,111
- Total Debt
- 123
- Net Working Capital
- 5,677
- Contingent Liabilities
- 1,583
- Book Value per Share
- 1030.77
- Face Value
- 10.00
- Total Debt
- 123
- Net Working Capital
- 5,677
- Contingent Liabilities
- 1,583
- Book Value per Share
- 1030.77
- Face Value
- 10.00
- Equity Capital
- 283
- 29,016
- 0
- Trade Payables
- 4,121
- 1,716
- Total Liabilities
- 35,136
- 2,792
- Capital Work in Progress
- 85
- 26,183
- 1,564
- 0
- Cash & Bank
- 690
- 3,822
- Total Assets
- 35,136
- Total Debt
- 124
- Net Working Capital
- 4,380
- Contingent Liabilities
- 1,615
- Book Value per Share
- 1035.46
- Face Value
- 10.00
- Total Debt
- 124
- Net Working Capital
- 4,380
- Contingent Liabilities
- 1,615
- Book Value per Share
- 1035.46
- Face Value
- 10.00
- Equity Capital
- 279
- 28,581
- 1,153
- Trade Payables
- 5,581
- 3,759
- Total Liabilities
- 39,352
- 3,168
- Capital Work in Progress
- 28
- 26,735
- 1,689
- 2,076
- Cash & Bank
- 2,037
- 3,619
- Total Assets
- 39,352
- Total Debt
- 1,912
- Net Working Capital
- 2,748
- Contingent Liabilities
- 0
- Book Value per Share
- 1033.73
- Face Value
- 10.00
- Total Debt
- 1,912
- Net Working Capital
- 2,748
- Contingent Liabilities
- 0
- Book Value per Share
- 1033.73
- Face Value
- 10.00
- Equity Capital
- 279
- 34,810
- 800
- Trade Payables
- 6,373
- 11,848
- Total Liabilities
- 54,110
- 3,629
- Capital Work in Progress
- 29
- 28,914
- 2,077
- 2,125
- Cash & Bank
- 2,848
- 14,488
- Total Assets
- 54,110
- Total Debt
- 9,364
- Net Working Capital
- 7,862
- Contingent Liabilities
- 2,034
- Book Value per Share
- 1256.51
- Face Value
- 10.00
- Total Debt
- 9,364
- Net Working Capital
- 7,862
- Contingent Liabilities
- 2,034
- Book Value per Share
- 1256.51
- Face Value
- 10.00
- Equity Capital
- 280
- 38,389
- 872
- Trade Payables
- 8,804
- 28,570
- Total Liabilities
- 76,914
- 11,913
- Capital Work in Progress
- 120
- 24,642
- 6,294
- 3,473
- Cash & Bank
- 3,072
- 27,399
- Total Assets
- 76,914
- Total Debt
- 22,054
- Net Working Capital
- 14,639
- Contingent Liabilities
- 2,140
- Book Value per Share
- 1383.49
- Face Value
- 10.00
- Total Debt
- 22,054
- Net Working Capital
- 14,639
- Contingent Liabilities
- 2,140
- Book Value per Share
- 1383.49
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3,267 | 4,328 | 2,487 | 3,850 | 3,120 | 4,197 | 5,277 | 6,552 | -1,406 | 2,597 | |
| Cash from Investing | -3,683 | -2,053 | -338 | 1,556 | -2,868 | -81 | 1,200 | -344 | -1,056 | -7,034 |
| Cash from Financing | -190 | -1,885 | -2,074 | -6,247 | -20 | -4,056 | -7,181 | -6,161 | 4,230 | 5,079 |
| -606 | 389 | 74 | -840 | 232 | 60 | -704 | 47 | 1,768 | 642 | |
| Free Cash Flow | 3,185 | 4,328 | 2,487 | 3,850 | 2,961 | 3,849 | 4,269 | 5,988 | -2,247 | -6,317 |
| OCF / Net Profit | 0.80 | 1.03 | 0.50 | 0.74 | 0.64 | 0.68 | 0.87 | 0.85 | -0.19 | 0.25 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 16,811 | 17,475 | 17,416 | 20,917 | 14,820 | 5,542 |
| OCF / Net Profit | 0.80 | 1.03 | 0.50 | 0.74 | 0.64 | 0.68 | 0.87 | 0.85 | -0.19 | 0.25 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 16,811 | 17,475 | 17,416 | 20,917 | 14,820 | 5,542 |
- 3,267
- Cash from Investing
- -3,683
- Cash from Financing
- -190
- -606
- Free Cash Flow
- 3,185
- OCF / Net Profit
- 0.80
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.80
- Cumulative 5-Year FCF
- 0
- 4,328
- Cash from Investing
- -2,053
- Cash from Financing
- -1,885
- 389
- Free Cash Flow
- 4,328
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- 2,487
- Cash from Investing
- -338
- Cash from Financing
- -2,074
- 74
- Free Cash Flow
- 2,487
- OCF / Net Profit
- 0.50
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.50
- Cumulative 5-Year FCF
- 0
- 3,850
- Cash from Investing
- 1,556
- Cash from Financing
- -6,247
- -840
- Free Cash Flow
- 3,850
- OCF / Net Profit
- 0.74
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.74
- Cumulative 5-Year FCF
- 0
- 3,120
- Cash from Investing
- -2,868
- Cash from Financing
- -20
- 232
- Free Cash Flow
- 2,961
- OCF / Net Profit
- 0.64
- Cumulative 5-Year FCF
- 16,811
- OCF / Net Profit
- 0.64
- Cumulative 5-Year FCF
- 16,811
- 4,197
- Cash from Investing
- -81
- Cash from Financing
- -4,056
- 60
- Free Cash Flow
- 3,849
- OCF / Net Profit
- 0.68
- Cumulative 5-Year FCF
- 17,475
- OCF / Net Profit
- 0.68
- Cumulative 5-Year FCF
- 17,475
- 5,277
- Cash from Investing
- 1,200
- Cash from Financing
- -7,181
- -704
- Free Cash Flow
- 4,269
- OCF / Net Profit
- 0.87
- Cumulative 5-Year FCF
- 17,416
- OCF / Net Profit
- 0.87
- Cumulative 5-Year FCF
- 17,416
- 6,552
- Cash from Investing
- -344
- Cash from Financing
- -6,161
- 47
- Free Cash Flow
- 5,988
- OCF / Net Profit
- 0.85
- Cumulative 5-Year FCF
- 20,917
- OCF / Net Profit
- 0.85
- Cumulative 5-Year FCF
- 20,917
- -1,406
- Cash from Investing
- -1,056
- Cash from Financing
- 4,230
- 1,768
- Free Cash Flow
- -2,247
- OCF / Net Profit
- -0.19
- Cumulative 5-Year FCF
- 14,820
- OCF / Net Profit
- -0.19
- Cumulative 5-Year FCF
- 14,820
- 2,597
- Cash from Investing
- -7,034
- Cash from Financing
- 5,079
- 642
- Free Cash Flow
- -6,317
- OCF / Net Profit
- 0.25
- Cumulative 5-Year FCF
- 5,542
- OCF / Net Profit
- 0.25
- Cumulative 5-Year FCF
- 5,542
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 140.98 | 145.80 | 170.29 | 180.11 | 167.85 | 213.08 | 214.17 | 276.10 | 262.29 | 384.41 |
| Book Value (₹) | 617.08 | 705.85 | 802.91 | 748.25 | 941.93 | 1030.77 | 1035.46 | 1033.73 | 1256.51 | 1383.49 |
| Dividend per Share (₹) | 55.00 | 60.00 | 60.00 | 120.00 | 140.00 | 140.00 | 140.00 | 80.00 | 210.00 | 150.00 |
| Cash EPS (₹) | 151.60 | 156.68 | 179.47 | 188.63 | 176.81 | 222.40 | 224.27 | 289.17 | 277.12 | 401.40 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 24.44% | 23.26% | 21.52% | 22.13% | 22.35% | 19.57% | 20.78% | 19.28% | 20.37% | 20.61% |
| Net Margin % | 17.67% | 16.37% | 16.23% | 17.42% | 17.51% | 18.47% | 16.48% | 17.04% | 14.26% | 16.70% |
| ROE % | 25.60% | 22.04% | 22.57% | 23.22% | 19.86% | 21.60% | 20.50% | 26.51% | 22.91% | 28.67% |
| ROCE % | 34.81% | 30.81% | 31.71% | 29.66% | 25.41% | 26.70% | 26.51% | 33.47% | 28.14% | 28.68% |
| 20.99% | 18.04% | 18.26% | 18.83% | 16.16% | 17.95% | 17.25% | 20.70% | 15.67% | 16.14% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 13 | 17 | 24 | 26 | 29 | 23 | 16 | 15 | 15 | 16 |
| Inventory Days | 11 | 10 | 10 | 12 | 17 | 15 | 14 | 13 | 13 | 24 |
| Payable Days | 53 | 57 | 59 | 61 | 72 | 62 | 54 | 56 | 62 | 65 |
| -29 | -30 | -24 | -22 | -26 | -24 | -24 | -27 | -34 | -25 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x | 0.07x | 0.27x | 0.57x |
| Interest Coverage (x) | 3992.11x | 4530.32x | 1553.58x | 2118.76x | 938.15x | 884.57x | 199.48x | 167.34x | 27.29x | 12.94x |
| 2.95x | 2.25x | 1.45x | 1.56x | 2.51x | 2.21x | 1.83x | 1.30x | 1.68x | 1.76x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -3.63% | 15.86% | 20.38% | -1.45% | -7.28% | 19.48% | 9.99% | 23.08% | 13.65% | 23.36% |
| Operating Profit Growth % | -2.15% | 6.24% | 9.01% | 1.32% | -6.33% | 5.37% | 16.90% | 33.51% | 17.11% | 27.64% |
| Net Profit Growth % | 0.45% | 3.42% | 16.80% | 5.77% | -6.81% | 26.95% | -1.71% | 27.19% | -4.98% | 44.37% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 28.92% | -5.00% | 46.56% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 33.12x | 30.02x | 22.83x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 8.85x | 6.27x | 6.34x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.87% | 2.67% | 1.71% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 25.02x | 18.96x | 17.34x |
- EPS (₹)
- 140.98
- Book Value (₹)
- 617.08
- Dividend per Share (₹)
- 55.00
- Cash EPS (₹)
- 151.60
- Operating Margin %
- 24.44%
- Net Margin %
- 17.67%
- ROE %
- 25.60%
- ROCE %
- 34.81%
- 20.99%
- Debtor Days
- 13
- Inventory Days
- 11
- Payable Days
- 53
- -29
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 3992.11x
- 2.95x
- Revenue Growth %
- -3.63%
- Operating Profit Growth %
- -2.15%
- Net Profit Growth %
- 0.45%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 145.80
- Book Value (₹)
- 705.85
- Dividend per Share (₹)
- 60.00
- Cash EPS (₹)
- 156.68
- Operating Margin %
- 23.26%
- Net Margin %
- 16.37%
- ROE %
- 22.04%
- ROCE %
- 30.81%
- 18.04%
- Debtor Days
- 17
- Inventory Days
- 10
- Payable Days
- 57
- -30
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 4530.32x
- 2.25x
- Revenue Growth %
- 15.86%
- Operating Profit Growth %
- 6.24%
- Net Profit Growth %
- 3.42%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 170.29
- Book Value (₹)
- 802.91
- Dividend per Share (₹)
- 60.00
- Cash EPS (₹)
- 179.47
- Operating Margin %
- 21.52%
- Net Margin %
- 16.23%
- ROE %
- 22.57%
- ROCE %
- 31.71%
- 18.26%
- Debtor Days
- 24
- Inventory Days
- 10
- Payable Days
- 59
- -24
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 1553.58x
- 1.45x
- Revenue Growth %
- 20.38%
- Operating Profit Growth %
- 9.01%
- Net Profit Growth %
- 16.80%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 180.11
- Book Value (₹)
- 748.25
- Dividend per Share (₹)
- 120.00
- Cash EPS (₹)
- 188.63
- Operating Margin %
- 22.13%
- Net Margin %
- 17.42%
- ROE %
- 23.22%
- ROCE %
- 29.66%
- 18.83%
- Debtor Days
- 26
- Inventory Days
- 12
- Payable Days
- 61
- -22
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 2118.76x
- 1.56x
- Revenue Growth %
- -1.45%
- Operating Profit Growth %
- 1.32%
- Net Profit Growth %
- 5.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 167.85
- Book Value (₹)
- 941.93
- Dividend per Share (₹)
- 140.00
- Cash EPS (₹)
- 176.81
- Operating Margin %
- 22.35%
- Net Margin %
- 17.51%
- ROE %
- 19.86%
- ROCE %
- 25.41%
- 16.16%
- Debtor Days
- 29
- Inventory Days
- 17
- Payable Days
- 72
- -26
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 938.15x
- 2.51x
- Revenue Growth %
- -7.28%
- Operating Profit Growth %
- -6.33%
- Net Profit Growth %
- -6.81%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 213.08
- Book Value (₹)
- 1030.77
- Dividend per Share (₹)
- 140.00
- Cash EPS (₹)
- 222.40
- Operating Margin %
- 19.57%
- Net Margin %
- 18.47%
- ROE %
- 21.60%
- ROCE %
- 26.70%
- 17.95%
- Debtor Days
- 23
- Inventory Days
- 15
- Payable Days
- 62
- -24
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 884.57x
- 2.21x
- Revenue Growth %
- 19.48%
- Operating Profit Growth %
- 5.37%
- Net Profit Growth %
- 26.95%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 214.17
- Book Value (₹)
- 1035.46
- Dividend per Share (₹)
- 140.00
- Cash EPS (₹)
- 224.27
- Operating Margin %
- 20.78%
- Net Margin %
- 16.48%
- ROE %
- 20.50%
- ROCE %
- 26.51%
- 17.25%
- Debtor Days
- 16
- Inventory Days
- 14
- Payable Days
- 54
- -24
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 199.48x
- 1.83x
- Revenue Growth %
- 9.99%
- Operating Profit Growth %
- 16.90%
- Net Profit Growth %
- -1.71%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 276.10
- Book Value (₹)
- 1033.73
- Dividend per Share (₹)
- 80.00
- Cash EPS (₹)
- 289.17
- Operating Margin %
- 19.28%
- Net Margin %
- 17.04%
- ROE %
- 26.51%
- ROCE %
- 33.47%
- 20.70%
- Debtor Days
- 15
- Inventory Days
- 13
- Payable Days
- 56
- -27
- Debt to Equity (x)
- 0.07x
- Interest Coverage (x)
- 167.34x
- 1.30x
- Revenue Growth %
- 23.08%
- Operating Profit Growth %
- 33.51%
- Net Profit Growth %
- 27.19%
- 28.92%
- P/E (x)
- 33.12x
- P/B (x)
- 8.85x
- Dividend Yield %
- 0.87%
- 25.02x
- EPS (₹)
- 262.29
- Book Value (₹)
- 1256.51
- Dividend per Share (₹)
- 210.00
- Cash EPS (₹)
- 277.12
- Operating Margin %
- 20.37%
- Net Margin %
- 14.26%
- ROE %
- 22.91%
- ROCE %
- 28.14%
- 15.67%
- Debtor Days
- 15
- Inventory Days
- 13
- Payable Days
- 62
- -34
- Debt to Equity (x)
- 0.27x
- Interest Coverage (x)
- 27.29x
- 1.68x
- Revenue Growth %
- 13.65%
- Operating Profit Growth %
- 17.11%
- Net Profit Growth %
- -4.98%
- -5.00%
- P/E (x)
- 30.02x
- P/B (x)
- 6.27x
- Dividend Yield %
- 2.67%
- 18.96x
- EPS (₹)
- 384.41
- Book Value (₹)
- 1383.49
- Dividend per Share (₹)
- 150.00
- Cash EPS (₹)
- 401.40
- Operating Margin %
- 20.61%
- Net Margin %
- 16.70%
- ROE %
- 28.67%
- ROCE %
- 28.68%
- 16.14%
- Debtor Days
- 16
- Inventory Days
- 24
- Payable Days
- 65
- -25
- Debt to Equity (x)
- 0.57x
- Interest Coverage (x)
- 12.94x
- 1.76x
- Revenue Growth %
- 23.36%
- Operating Profit Growth %
- 27.64%
- Net Profit Growth %
- 44.37%
- 46.56%
- P/E (x)
- 22.83x
- P/B (x)
- 6.34x
- Dividend Yield %
- 1.71%
- 17.34x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-05 - Bajaj Auto Limited has informed the Exchange about Schedule of meet
Annual Reports
Credit Ratings
- Credit Rating
2026-03-31 - Bajaj Auto Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-03-07 - Bajaj Auto Limited has informed the Exchange about Credit Rating
- Credit Rating
2025-09-11 - Bajaj Auto Limited has informed the Exchange about Credit Rating
Concalls
Jul 2026
May 2026
Feb 2026

