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| 07 March, 2021, 04:30 PM IST | E-Paper
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Bajaj Auto Ltd.

  • 3,852.85-26.20 (-0.68%)
  • Volume: 7,19,936
  • Closed
  • Last Updated On: 05 Mar, 2021, 03:58 PM IST
OPEN TRADING A/C
  • Overview
  • News
  • Financials
  • Technicals
  • Peers
  • Shareholdings
  • MF
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Insights

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  • In Q3, healthy exports and better sales in premium segment saved the day for margins. First two months of Q4, exports are steady.

  • Three wheeler sales are indicator revival in lending activity to unorganised and sub-prime sector. Though still down on YoY basis, three-wheeler sales improved on MoM basis to 15,877 unit in February, from 13,353 in January 2021. Further indication that economy recovery is getting widespread.

  • The company is well-hedged from any slowdown in one particular segment, because of its sales in two-wheelers in the domestic rural and urban areas, sales of three-wheelers and exports.

  • In all, 54 per cent of the domestic two-wheeler sales and 51 per cent of domestic three-wheeler sales of the company are financed by the group company, Bajaj finance. It cushions Bajaj Auto from any liquidity squeeze in financial system, like the one witnessed in late 2018.

InsightsBajaj Auto Ltd.

  • Q3 – Exports and premium segment shine

    In Q3, healthy exports and better sales in premium segment saved the day for margins. First two months of Q4, exports are steady.

  • February sales - Domestic three wheelers inch up

    Three wheeler sales are indicator revival in lending activity to unorganised and sub-prime sector. Though still down on YoY basis, three-wheeler sales improved on MoM basis to 15,877 unit in February, from 13,353 in January 2021. Further indication that economy recovery is getting widespread.

  • Healthy sales and product mix

    The company is well-hedged from any slowdown in one particular segment, because of its sales in two-wheelers in the domestic rural and urban areas, sales of three-wheelers and exports.

  • Forward integration

    In all, 54 per cent of the domestic two-wheeler sales and 51 per cent of domestic three-wheeler sales of the company are financed by the group company, Bajaj finance. It cushions Bajaj Auto from any liquidity squeeze in financial system, like the one witnessed in late 2018.

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Key Metrics

  • PE Ratio

    PE Ratio

    This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

    (x)
    23.93
  • EPS - TTM

    EPS - TTM

    Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

    (₹)
    161.03
  • MCap

    MCap

    MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

    (₹ Cr.)
    1,11,464
  • Sectoral MCap Rank

    Sectoral MCap Rank

    This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

    2
  • PB Ratio

    PB Ratio

    Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

    (x)
    5.18
  • Div Yield

    Dividend Yield

    Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

    (%)
    3.11
  • Face Value

    Face Value

    Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

    (₹)
    10.00
  • Beta

    Beta

    1 Month1.19
    3 Months1.17
    6 Months0.70
    1 Year0.87
    3 Years0.88

    1.19
  • VWAP

    VWAP

    Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

    (₹)
    3,865.03
  • 52W H/L

    52W H/L

    This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

    (₹)
    4,361.40 / 1,788.65

Returns

  • 1 Day-0.68%
  • 1 Week1.43%
  • 1 Month-8.94%
  • 3 Months16.35%
  • 1 Year42.51%
  • 3 Years30.89%
  • 5 Years67.06%

Financials

  • Income (P&L)
  • Balance Sheet
  • Cash Flow
  • Ratios
  • MD&A
  • Insights

    • Topline Contraction

      Sales de-grew by 0.82%. Company witnessed revenue contraction for the first time in last 3 years. (Source: Consolidated Financials)
    • Employee & Interest Expense

      Company has spent less than 1% of its operating revenues towards interest expenses and 4.65% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)
    Quarterly | AnnualDec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income9,279.067,441.663,417.127,243.318,005.88
    Total Income Growth (%)24.69117.78-52.82-9.53-1.17
    Total Expenses7,246.245,954.462,734.615,626.546,334.23
    Total Expenses Growth (%)21.69117.74-51.40-11.17-2.40
    EBIT2,032.821,487.20682.511,616.771,671.65
    EBIT Growth (%)36.69117.90-57.79-3.283.77
    Profit after Tax (PAT)1,716.261,193.97395.511,353.991,322.44
    PAT Growth (%)43.74201.88-70.792.39-13.19
    EBIT Margin (%)21.9119.9819.9722.3220.88
    Net Profit Margin (%)18.5016.0411.5718.6916.52
    Basic EPS (₹)59.3041.3013.7046.8045.70
    Quarterly | AnnualDec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income9,279.067,441.663,417.127,348.508,005.88
    Total Income Growth (%)24.69117.78-53.50-8.21-1.17
    Total Expenses7,245.265,953.952,734.505,626.366,334.13
    Total Expenses Growth (%)21.69117.73-51.40-11.17-2.41
    EBIT2,033.801,487.71682.621,722.141,671.75
    EBIT Growth (%)36.71117.94-60.363.013.83
    Profit after Tax (PAT)1,556.281,138.20528.041,310.291,261.60
    PAT Growth (%)36.73115.55-59.703.86-10.04
    EBIT Margin (%)21.9219.9919.9823.4420.88
    Net Profit Margin (%)16.7715.2915.4517.8315.76
    Basic EPS (₹)53.8039.3018.3045.3043.60
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue31,443.2231,702.1226,377.1922,988.9123,571.10
    Total Revenue Growth (%)-0.8220.1914.74-2.476.18
    Total Expenses25,072.6025,438.2920,699.3917,655.9818,113.65
    Total Expenses Growth (%)-1.4422.8917.24-2.531.91
    Profit after Tax (PAT)5,211.914,927.614,218.954,079.494,061.24
    PAT Growth (%)5.7716.803.420.4534.23
    Operating Profit Margin (%)21.3020.6422.5124.5024.16
    Net Profit Margin (%)17.4216.2316.7218.7417.98
    Basic EPS (₹)180.20170.30145.80141.00140.30
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue31,652.2131,899.2726,512.1722,988.6523,660.11
    Total Revenue Growth (%)-0.7720.3215.33-2.846.60
    Total Expenses25,072.0125,538.1120,697.6017,653.0218,112.79
    Total Expenses Growth (%)-1.8323.3917.25-2.541.93
    Profit after Tax (PAT)5,099.984,675.184,068.103,827.563,929.67
    PAT Growth (%)9.0914.926.28-2.6039.66
    Operating Profit Margin (%)22.0021.0423.1124.5124.56
    Net Profit Margin (%)17.0415.4516.1617.5817.39
    Basic EPS (₹)176.30161.60140.60132.30135.80

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Zero Debt Burden

      Company has no debt since last 5 years. (Source: Consolidated Financials)
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets26,510.0228,834.4125,141.0021,637.6217,240.37
    Total Assets Growth (%)-8.0614.6916.1925.517.98
    Total Liabilities4,847.935,600.594,715.743,781.023,220.02
    Total Liabilities Growth (%)-13.4418.7624.7217.42-33.88
    Total Equity21,662.0923,233.8220,425.2617,856.6014,020.35
    Total Equity Growth (%)-6.7613.7514.3827.3626.36
    Current Ratio (x)1.561.452.252.951.70
    Total Debt to Equity (x)0.000.000.000.000.00
    Contingent Liabilities----1,980.12
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets24,773.3027,380.3923,819.4920,814.8916,486.50
    Total Assets Growth (%)-9.5214.9514.4326.255.94
    Total Liabilities4,847.815,600.494,715.633,780.763,219.95
    Total Liabilities Growth (%)-13.4418.7624.7317.42-33.88
    Total Equity19,925.4921,779.9019,103.8617,034.1313,266.55
    Total Equity Growth (%)-8.5114.0112.1528.4024.08
    Current Ratio (x)1.551.452.252.921.70
    Total Debt to Equity (x)0.000.000.010.010.00
    Contingent Liabilities1,803.851,853.882,248.642,019.791,980.12

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Cash from Operations vs PAT

      Operating cash flow of Rs 3850.44 cr is 0.74 times compared to the reported net profit of Rs 5211.91 cr. (Source: Consolidated Financials)
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities3,850.442,486.864,327.843,267.363,689.85
    Net Cash used in Investing Activities1,556.09-338.44-2,053.09-3,683.16-113.07
    Net Cash flow from Financing Activities-6,246.51-2,074.05-1,885.26-190.09-3,384.08
    Net Cash Flow-630.24140.04488.10-532.41238.25
    Closing Cash & Cash Equivalent285.40915.64775.60287.50819.91
    Closing Cash & Cash Equivalent Growth (%)-68.8318.06169.77-64.9440.96
    Total Debt/ CFO (x)0.000.000.000.000.00
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities3,861.762,489.53--3,656.81
    Net Cash used in Investing Activities1,754.54-244.08---18.83
    Net Cash flow from Financing Activities-6,246.51-2,074.05---3,384.08
    Net Cash Flow-628.05144.44--242.48
    Closing Cash & Cash Equivalent277.33905.38760.94279.82817.55
    Closing Cash & Cash Equivalent Growth (%)-69.3718.98171.94-65.7742.17
    Total Debt/ CFO (x)0.000.00--0.00

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)24.0621.2020.6522.8428.96
    Return on Capital Employed (%)28.6326.1627.0028.9537.75
    Return on Assets (%)19.6617.0816.7818.8523.55
    Interest Coverage Ratio (x)2,017.021,399.184,335.203,810.245,198.57
    Asset Turnover Ratio (x)112.85105.28100.30100.59131.00
    Price to Earnings (x)11.2517.1218.8719.9217.15
    Price to Book (x)2.703.633.894.554.97
    EV/EBITDA (x)8.8012.7713.1414.3511.93
    EBITDA Margin (%)22.1221.5223.7625.9125.52
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)25.5921.4621.2922.4629.62
    Return on Capital Employed (%)32.0828.2829.5030.3240.48
    Return on Assets (%)20.5817.0717.0718.3823.83
    Interest Coverage Ratio (x)2,083.341,420.904,439.603,812.165,284.16
    Asset Turnover Ratio (x)120.76110.48105.64104.57137.00
    Price to Earnings (x)11.4918.0519.5721.2317.73
    Price to Book (x)2.943.874.164.775.25
    EV/EBITDA (x)8.5312.5812.8714.3611.74
    EBITDA Margin (%)22.8221.9224.3625.9325.92
  • MANAGEMENT DISCUSSION AND ANALYSIS (FY 2019-20)

    • Pre- covid blue of automotive sector

      Even before the onset of COVID-19 in India, two things had become obvious. The first was that throughout FY2020, the country’s economic growth was slowing down. And the second was that the automotive sector was facing declining demand across the board.

    • Reasons for slow down

      It was not just the relative lack of demand. The motorcycle industry was subjected to several regulations which significantly increased the cost of ownership. Notable among these were: (i) compulsory five-year third party insurance which was introduced in October 2018, (ii) more rigorous braking norms from April 2019, and (iii) the implementation of the more stringent emission norms under BS-VI from April 2020.

    • Export growth and regions of concern

      A strong presence in the ASEAN region, aided by market share improvement in the Philippines. Stable volumes in Latin America, where a drop in our volumes in Argentina owing to economic turmoil was compensated by growth in Mexico and Central America. It needs to be stated, however, that our export business in South Asia faced head winds — with regulatory issues in Bangladesh, and with Sri Lanka having another year of declining appetite.

    Show More

Financial InsightsBajaj Auto Ltd.

  • Income (P&L)
  • Balance Sheet
  • Cash Flow
    • Topline Contraction

      Sales de-grew by 0.82%. Company witnessed revenue contraction for the first time in last 3 years. (Source: Consolidated Financials)

    • Employee & Interest Expense

      Company has spent less than 1% of its operating revenues towards interest expenses and 4.65% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)

    • Zero Debt Burden

      Company has no debt since last 5 years. (Source: Consolidated Financials)

    • Cash from Operations vs PAT

      Operating cash flow of Rs 3850.44 cr is 0.74 times compared to the reported net profit of Rs 5211.91 cr. (Source: Consolidated Financials)

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Technicals

  • Buy / Sell Signals
  • Price Analysis
  • Pivot Levels & ATR
  • Chart
  • Bullish / Bearish signals for Bajaj Auto Ltd. basis selected technical indicators and moving average crossovers.

    5 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 4 Mar 2021

    5D EMA: 3893.73

    Last 4 Sell Signals:18 Feb 2021
    Date7 days Gain/Loss %
    18 Feb 2021-6.32%
    12 Feb 2021-0.61%
    9 Feb 2021-1.32%
    29 Jan 2021-0.77%

    Average price decline of -1.85% within 7 days of Bearish signal in last 5 years

  • 48%
    Positive Movement since
    1st Jan 2005 on basis
    52%
    Negative Movement since
    1st Jan 2005 on basis
    Exclude
  • Pivot Levels

    R1R2R3PIVOTS1S2S3
    Classic3903.483954.124045.623862.623811.983771.123679.62

    Average True Range

    5 DAYS14 DAYS28 DAYS
    ATR111.55111.68106.52

Peer Comparison

  • Stock Performance
  • Ratio Performance
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 32.68% as compared to Nifty 100 which gave a return of 42.14%. (as of last trading session)
    • Stock Returns vs Nifty Auto

      Stock generated 32.68% return as compared to Nifty Auto which gave investors -4.25% return over 3 year time period. (as of last trading session)
    • 1D
    • 1W
    • 1M
    • 3M
    • 6M
    • 1Y
    • 5Y
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 32.68% as compared to Nifty 100 which gave a return of 42.14%. (as of last trading session)
    • Stock Returns vs Nifty Auto

      Stock generated 32.68% return as compared to Nifty Auto which gave investors -4.25% return over 3 year time period. (as of last trading session)

    Ratio Performance

    NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    Bajaj Auto23.935.1524.0628.6319.6610.8921.3016.34180.201.560.000.00
    Eicher Motors62.857.0818.3022.4614.6710.0225.5819.61669.523.150.010.09
    Hero MotoCorp26.184.7525.2525.6218.490.9613.4812.39182.152.020.010.04
    TVS Motor82.088.1619.0319.143.2314.249.383.4713.150.972.7424.11
    Atul Auto462.091.4117.4121.7614.089.4710.858.3524.421.970.000.00
    Add More
    Annual Ratios (%)

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      Peers InsightsBajaj Auto Ltd.

      • Stock Returns vs Nifty 100

        Stock gave a 3 year return of 32.68% as compared to Nifty 100 which gave a return of 42.14%. (as of last trading session)

      • Stock Returns vs Nifty Auto

        Stock generated 32.68% return as compared to Nifty Auto which gave investors -4.25% return over 3 year time period. (as of last trading session)

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      Shareholding Pattern

      • QOQ Change
      • Total Shareholdings
      • Showing Shareholding as on 31 Dec 2020
        Category31 Dec 202030 Sep 202030 Jun 202031 Mar 2020
        Promoters53.7053.6953.6953.66
        Pledge0.000.010.000.00
        FII13.0613.5613.7113.94
        DII9.1310.409.118.77
        Mutual Funds3.092.963.203.05
        Others24.1122.3523.4923.63
      • Showing Shareholding as on 31 Dec 2020
        CategoryNo. of SharesPercentage% Change QoQ
        Promoters15,53,89,90453.70 %0.01
        Pledge00.00 %-0.01
        FII3,78,00,19813.06 %-0.50
        DII2,64,03,0379.13 %-1.27
        MF89,35,8473.09 %0.13
        Others6,97,73,88124.11 %1.76

      MF Ownership

      • Equity: Large Cap
        • 784.58

          Amount Invested (in Cr.)

        • 0.89%

          % of AUM

        • 1.40

          % Change (MoM basis)

      • Equity: Large Cap
        • 404.22

          Amount Invested (in Cr.)

        • 1.03%

          % of AUM

        • 3.37

          % Change (MoM basis)

      • Equity: Large Cap
        3
        • 358.83

          Amount Invested (in Cr.)

        • 1.44%

          % of AUM

        • 0.00

          % Change (MoM basis)

      MF Ownership as on 31 January 2021

      F&O Quote

      • Futures
      • Options
        • Expiry

        Price

        3,897.65-19.80 (-0.51%)

        OpenHighLowPrev CloseContracts TradedTurnover (₹ Lakhs)
        3,868.453,937.453,851.053,917.452,66025,933.69

      Corporate Actions

      • Board Meeting/AGM
      • Dividends
      • Others
      • Meeting DateAnnounced onPurposeDetails
        Jan 21, 2021Dec 18, 2020Board MeetingQuarterly Results
        Oct 22, 2020Sep 23, 2020Board MeetingQuarterly Results
        Jul 22, 2020Jun 22, 2020Board MeetingQuarterly Results
        Jul 22, 2020May 20, 2020AGM-
        May 20, 2020May 05, 2020Board MeetingAudited Results
      • TypeDividendDividend per ShareEx-Dividend DateAnnounced on
        Interim1200%120.0Mar 03, 2020Feb 24, 2020
        Final600%60.0Jul 11, 2019May 17, 2019
        Final600%60.0Jul 05, 2018May 18, 2018
        Final550%55.0Jul 06, 2017May 18, 2017
        Final50%5.0Jul 14, 2016May 25, 2016
      • All TypesEx-DateRecord DateAnnounced onDetails
        BonusSep 08, 2010Sep 10, 2010Jul 22, 2010Bonus Ratio: 1 share(s) for every 1 shares held

      About Bajaj Auto

      Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 111,488.77 Crore) operating in Auto sector. Bajaj Auto Ltd. key Products/Revenue Segments include Automobile - 2 & 3 Wheelers, Export Incentives, Other Operating Revenue, Scrap for the year ending 31-Mar-2020. Show More

      • Executives
      • Auditors
      • AB

        Abhinav Bindra

        Director
        AJ

        Abraham Joseph

        Chief Technology Officer
        AR

        Anami Roy

        Director
        DJ

        D J Balaji Rao

        Director
        Show More
      • SRBC & Co LLP

      Key Indices Listed on

      Nifty 50, S&P BSE Sensex, Nifty 100, + 36 more

      Address

      Mumbai-Pune Road,Akurdi,Mumbai, Maharashtra - 411035

      Bajaj Auto Share Price Update

      Bajaj Auto Ltd. share price moved down by -0.68% from its previous close of Rs 3,879.05. Bajaj Auto Ltd. stock last traded price is 3,852.85

      Share PriceValue
      Today/Current/Last3,852.85
      Previous Day3,879.05

      Trending in Markets

      DATA SOURCES: TickerPlant (for live BSE/NSE quotes service) and Dion Global Solutions Ltd. (for corporate data, historical price & volume, F&O data). Sensex & BSE Quotes and Nifty & NSE Quotes are real-time and licensed from BSE and NSE respectively. All timestamps are reflected in IST (Indian Standard Time).

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