Bajaj Corp has delivered poor set of numbers in 4QFY17 with its net sales falling by 1.9% YoY to Rs2bn, while pre-exceptional net profit plummeted by 20.2% YoY to Rs527mn. Overall volume for the quarter has declined by 7% YoY. Considering the tough quarter, we have revised our revenue and profit estimate for FY18E downwards by 4% and 7%, respectively. We expect Bajaj Corp to report revenue and earnings CAGR of 14.5% and 18.5%, respectively through FY17-19E. Considering the Company's market leadership and pricing power, coupled with attractive...