Bajaj Auto Ltd. share price target

Bajaj Auto Ltd.s quarterly profit rose 15% to Rs 1551 crore, in line with estimates. Bajaj Auto reported a 15 per cent rise in consolidated net profit to Rs 1,551 crore for the fourth quarter ended March 2021 on the back of robust sales across domestic and international markets. The Pune-based company had posted a net profit of Rs 1,354 crore in the JanuaryMarch quarter of 2019-20. Total revenue from operations rose 26 per cent to Rs 8,596 crore in the fourth quarter, from Rs...

Bajaj Auto is the world's sixth-largest manufacturer of motorcycles and the second-largest in India. It is also the world's largest three-wheeler manufacturer. The company is based in Pune, Mumbai with plants in Chakan (Pune), Waluj (near Aurangabad) and Pantnagar in Uttarakhand. Bajaj Auto...

For BAL, we build 22.2%, 15.5% sales, PAT CAGR in FY21P-23E. We value BAL at unchanged target price of | 4,500 using SOTP method (core business at 21x FY23E EPS and 2x P/B on KTM investment), retaining our BUY rating. Despite likely slight elongation in demand recovery, presence of margin accretive factors helps us remain constructive on BAL. We are also enthused...

We upgrade our rating from Hold to BUY with revised TP of Rs. 4,250 (Rs. 4,150 earlier) (which includes Rs 170/share for company's stake in KTM) as we value the stock at 17x its FY23E EPS.

Bajaj Auto (BJAUT) Q4FY21 result was above our and consensus estimates at revenue and lower at EBITDA level due to higher operating cost. We expect domestic 2W/3W industry to see a double digit growth for FY22 on a low base despite 2nd wave of covid; as vaccination drive will help in bringing normalcy. We anticipate stronger recovery in export market for 2W/3W segment would help TVSL to partially mitigate any slowdown in domestic market in near term. We build our volume growth estimates for FY22/FY23 by 20%/12% respectively factoring the strong recovery in 2W/3W domestic and export market. We change our rating to HOLD (earlier REDUCE) and arrive at a TP of Rs3,730...

Exports to dilute impact of near term weakness in the domestic market Bajaj Auto's (BJAUT) 4QFY21 performance was supported by favorable mix and price hikes, which helped in diluting commodity inflation. It has both near (3W recovery) and long term (premiumization and exports) levers,...

BJAUT's 4QFY21 results were in-line across parameters. Despite gross margins contracted 340bp YoY/ 110bp QoQ, better product mix and cost control partially offset RM dent. While we acknowledge launch of Pulsar helping BJAUT gain market share in 125cc segment, its overall market share in domestic motorcycle segment still declined ~50bp to 18.1% in FY21....

Bajaj Auto's topline expanded by 27.3% yoy, in a quarter which remained buoyant even after the end of festive season. Sequentially the top line declined by just 3.4%, while it expanded by 27.3% yoy. Volumes in the quarter moved up by 17.9% yoy after falling by 64% yoy in Q1 and 10% in Q2...

Bajaj Auto's Q4FY21 revenue was ahead of estimates at Rs 86bn.