Financials Bajaj Auto Limited Bombay S.E.

Equities

BAJAJ-AUTO

INE917I01010

Auto & Truck Manufacturers

Market Closed - Bombay S.E. 11:00:54 28/06/2024 BST 5-day change 1st Jan Change
9,499 INR +0.86% Intraday chart for Bajaj Auto Limited -1.05% +39.67%

Valuation

Fiscal Period: März 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 585,201 1,062,151 1,057,058 1,099,219 2,553,978 2,652,668 - -
Enterprise Value (EV) 1 439,514 885,261 866,158 1,096,361 2,556,953 2,424,971 2,403,072 2,368,237
P/E ratio 11.5 x 23.3 x 21 x 19.7 x 34.6 x 30.3 x 26.5 x 23.9 x
Yield 5.93% 3.81% 3.83% 3.6% 0.87% 2.35% 2.61% 2.95%
Capitalization / Revenue 1.96 x 3.83 x 3.19 x 3.02 x 5.72 x 5.11 x 4.47 x 3.99 x
EV / Revenue 1.47 x 3.19 x 2.61 x 3.01 x 5.72 x 4.67 x 4.05 x 3.56 x
EV / EBITDA 8.62 x 18 x 16.5 x 16.7 x 29 x 23.2 x 19.8 x 17.6 x
EV / FCF 12.3 x 30.8 x 23.7 x 24 x 38.3 x 36.8 x 26.4 x 24.7 x
FCF Yield 8.14% 3.25% 4.22% 4.17% 2.61% 2.72% 3.78% 4.04%
Price to Book 2.94 x 4.21 x 3.96 x 4.32 x 10.3 x 9.18 x 8.23 x 7.75 x
Nbr of stocks (in thousands) 289,367 289,367 289,367 282,957 279,180 279,180 - -
Reference price 2 2,022 3,671 3,653 3,885 9,148 9,502 9,502 9,502
Announcement Date 20/05/20 29/04/21 27/04/22 25/04/23 18/04/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 299,186 277,411 331,447 364,276 446,852 518,745 593,242 665,613
EBITDA 1 50,962 49,285 52,586 65,491 88,250 104,691 121,306 134,380
EBIT 1 48,498 46,692 49,895 62,667 84,752 100,829 116,507 130,055
Operating Margin 16.21% 16.83% 15.05% 17.2% 18.97% 19.44% 19.64% 19.54%
Earnings before Tax (EBT) 1 65,802 59,390 65,053 74,086 98,220 115,487 132,629 145,255
Net income 1 51,000 45,546 50,189 56,276 74,788 87,730 100,748 110,474
Net margin 17.05% 16.42% 15.14% 15.45% 16.74% 16.91% 16.98% 16.6%
EPS 2 176.3 157.5 173.6 197.3 264.6 313.1 358.9 397.7
Free Cash Flow 1 35,790 28,728 36,569 45,686 66,706 65,883 90,864 95,785
FCF margin 11.96% 10.36% 11.03% 12.54% 14.93% 12.7% 15.32% 14.39%
FCF Conversion (EBITDA) 70.23% 58.29% 69.54% 69.76% 75.59% 62.93% 74.91% 71.28%
FCF Conversion (Net income) 70.18% 63.08% 72.86% 81.18% 89.19% 75.1% 90.19% 86.7%
Dividend per Share 2 120.0 140.0 140.0 140.0 80.00 223.6 247.8 279.8
Announcement Date 20/05/20 29/04/21 27/04/22 25/04/23 18/04/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 88,055 79,748 80,050 102,028 93,151 89,047 103,098 107,773 121,135 114,847 124,464 131,039 136,167 133,573
EBITDA 1 14,050 13,656 12,970 17,587 17,770 17,166 19,539 21,328 24,300 23,070 24,709 26,197 25,115 25,238
EBIT 1 13,340 12,959 12,297 16,917 17,030 16,424 18,704 20,452 23,419 22,164 24,092 24,873 26,144 25,534
Operating Margin 15.15% 16.25% 15.36% 16.58% 18.28% 18.44% 18.14% 18.98% 19.33% 19.3% 19.36% 18.98% 19.2% 19.12%
Earnings before Tax (EBT) 1 15,733 18,972 15,447 20,140 19,635 18,865 22,046 24,000 26,758 25,416 26,823 27,955 27,118 27,463
Net income 1 12,142 14,690 11,733 15,300 14,914 14,329 16,648 18,361 20,419 19,360 20,520 21,385 20,745 21,009
Net margin 13.79% 18.42% 14.66% 15% 16.01% 16.09% 16.15% 17.04% 16.86% 16.86% 16.49% 16.32% 15.23% 15.73%
EPS 2 42.00 50.80 40.60 53.50 52.70 50.70 58.90 64.90 72.20 68.50 72.50 75.60 73.30 74.20
Dividend per Share 2 - 140.0 - - - 140.0 - - - 80.00 - - - 221.3
Announcement Date 19/01/22 27/04/22 26/07/22 14/10/22 25/01/23 25/04/23 25/07/23 18/10/23 24/01/24 18/04/24 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: März 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 - - - - 2,974 - - -
Net Cash position 1 145,688 176,890 190,900 2,858 - 227,697 249,596 284,431
Leverage (Debt/EBITDA) - - - - 0.0337 x - - -
Free Cash Flow 1 35,790 28,728 36,569 45,686 66,706 65,883 90,864 95,785
ROE (net income / shareholders' equity) 24.5% 20.2% 19.4% 21.6% 29.7% 32% 32.6% 33.4%
ROA (Net income/ Total Assets) 19.6% 16.2% 15.8% 17.9% 22.9% 23.2% 22.9% 23.4%
Assets 1 260,769 281,518 317,260 315,249 326,892 377,399 440,222 471,950
Book Value Per Share 2 689.0 871.0 922.0 899.0 890.0 1,035 1,155 1,226
Cash Flow per Share 2 133.0 108.0 145.0 193.0 265.0 290.0 350.0 368.0
Capex 1 2,828 2,410 5,507 9,433 8,077 9,372 9,130 10,176
Capex / Sales 0.95% 0.87% 1.66% 2.59% 1.81% 1.81% 1.54% 1.53%
Announcement Date 20/05/20 29/04/21 27/04/22 25/04/23 18/04/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

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