BAJAJ-AUTOAutomobile and Auto Components

Bajaj Auto Limited

2/3 Wheelers · ISIN INE917I01010 · BSE 532977 · NSE EQ · FV ₹10
Last price
₹11,500
-0.80%today
What this company does

Bajaj Auto Limited operates in 2/3 Wheelers, part of the Automobile and Auto Components sector. It booked ₹21,689 cr of revenue in its latest quarter (Q1 FY27) and kept 14.9% of sales as profit. It is the largest of 6 2/3 Wheelers companies we track, by market value.

Their stated vision

is to be “Distinctly Ahead” in creating benchmarks for resource conservation, maximizing use of renewable energy and pollution prevention, during the complete product realisation cycle.

In the report:
67out of 100
Equitytale Health Score
Solid

Healthier than 67% of companies in Automobile and Auto Components, on all six measures of filed financials. Each measure is ranked against the 9–48 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
47

At close. Not part of the score.

Profitability & returns93

How much profit it earns on the money it employs

Balance sheet44

How much it owes, and whether earnings cover the interest

Cash quality39

Whether reported profit actually arrives as cash

Growth & consistency69

Whether sales and profit have grown, and how steadily

Valuation59

What today's price implies, against our models or its peers

Governance & risk97

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 65% vs last year
Profit up 46% vs last year
Promoters hold 55%
Strong 33% return on equity
Watch-outs
! 0.0% of promoter stake pledged
! Operating cash flow is negative

What if I invest in BAJAJ-AUTO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹11,500 -0.80%
latest close · 2026-09-17
1-year return
+211.5%
52-wk low ₹3,02752-wk high ₹12,470
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio24.9Average
LowAverageHigh
P/B ratio8.28High
Below bookModerateHigh
EV / EBITDA16.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity33.2%Strong
WeakFairStrong ▸15%
Return on capital33.3%Strong
WeakFairStrong
Net margin14.9%Decent
ThinDecentStrong
EBITDA margin24.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.55Moderate
LowModerateHigh ▸1
Interest cover12.4×Strong
RiskyOkayStrong ▸5×
Current ratio1.76Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹3.21 L cr
Book value
₹1,389
EPS
₹115.50
latest quarter
Net debt
₹18,991 cr
owes more than its cash
Enterprise value
₹3.40 L cr
EBITDA
₹20,876 cr
annualised
EBIT
₹19,257 cr
annualised
Operating margin
22.2%
Return on assets
16.7%
Earnings yield
4.02%
P/S
3.70
Sales / share
₹3,103.9
Tax rate
27.9%
Face value
₹10
Shares
28.0 cr
Working capital
₹14,639 cr
Current assets
₹33,977 cr
Current liabilities
₹19,338 cr
Delivery %
54.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,988₹4,175, midpoint ₹2,615

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹21,689 cr
Other Income₹688 cr
Total Income₹22,377 cr
Cost of Materials₹13,261 cr
Purchases of Stock-in-Trade₹780 cr
Inventory Change (±)₹-25 cr
Employee Benefit Expense₹1,387 cr
Finance Costs₹387 cr
Depreciation & Amortisation₹405 cr
Other Expenses₹1,755 cr
Total Expenses₹17,950 cr
Profit before Tax₹4,427 cr
Tax Expense₹1,235 cr
Share of JV / Associates₹-3 cr
Net Profit₹3,189 cr
Net margin on total income14.3%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹14,016 cr62.6%
Employee benefit expense₹1,387 cr6.2%
Finance costs₹387 cr1.7%
Depreciation & amortisation₹405 cr1.8%
Other expenses₹1,755 cr7.8%
Tax expense₹1,235 cr5.5%
Profit for the period₹3,189 cr14.3%
Total income ₹22,377 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue16,204 cr17,832 cr21,689 cr
Total income16,640 cr18,494 cr22,377 cr
Expenses12,908 cr15,391 cr17,950 cr
Profit before tax3,656 cr3,141 cr4,427 cr
Tax906 cr844 cr1,235 cr
Net profit (owners' share)2,750 cr3,662 cr3,226 cr
Net margin (owners' share, on revenue)17.0%20.5%14.9%
EPS (₹)98.50131.10115.50
YoY (latest quarter): total income +64.0% · net profit +45.9%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹77,223 cr
Shareholder equity
₹38,832 cr
parent shareholders
Total debt
₹21,981 cr
Cash
₹2,990 cr
Cash flow · H1 FY26
Operating
₹-260 cr
Investing
₹-4,790 cr
Financing
₹4,342 cr
Peer comparison
2/3 Wheelers · by market value
CompanyPriceMarket capP/E
Bajaj Auto Limitedthis company₹11,500₹3.21 L cr24.9
Eicher Motors Limited₹7,494₹2.06 L cr35.1
TVS Motor Company Limited₹4,102₹1.95 L cr47.8
Hero MotoCorp Limited₹5,325₹1.07 L cr18.9
Ather Energy Limited₹1,550₹59,381 cr
Ola Electric Mobility Limited₹37₹17,026 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.30%
trailing 12 months
Dividend / share (TTM)
₹150
Last dividend
₹150
ex 29 May 2026
ActionDetailEx-date
BuybackBuy Back24 Jun 2026
Dividend₹150 / share29 May 2026
Dividend₹210 / share20 Jun 2025
Dividend₹80 / share14 Jun 2024
BuybackBuy Back29 Feb 2024
Dividend₹140 / share30 Jun 2023
Who owns it · 2026-06-30
0.0% pledged
Promoter
55.0%
FII / Foreign
9.0%
DII / Domestic
13.5%
Retail / others
22.4%
Smart-money activity
Insider trades
SoldSiddhant Bajaj · Promoter Group27,000 · ₹25.1 cr30 Dec 25
BoughtShefali Bajaj · Promoter Group54,000 · ₹50.2 cr30 Dec 25
SoldSanjali Bajaj · Promoter Group27,000 · ₹25.1 cr30 Dec 25
Bulk / block deals
short · NSE231 Aug 26
short · NSE128 Aug 26
short · NSE2227 Aug 26
Stake changes
BoughtLife Insurance Corporation of India→ 5.00% · 44,80017 Aug 26
SoldLife Insurance Corporation of India→ 3.17% · 57.35 L25 Jul 23
DisposalLIFE INSURANCE CORPORATION OF INDIA→ 5.20%16 Nov 22
Promoter pledges
PledgedVanraj Bajaj13,822 · 0.00% held3 Jul 20
ReleasedSun Pharma Laboratories Ltd79,855 · 0.03% held16 Jun 16
PledgedSun Pharma Laboratories Ltd79,855 · 0.00% held12 Jun 15
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 16 Aug 2025
See the official result
1
Approval of Material Related Party Transaction(s) between Bajaj Auto International Holdings BV, a wholly owned subsidiary of the Company and Pierer Bajaj AG, PIERER Mobility AG and KTM AG for restructuring support for KTM AG and its subsidiaries.
Promoters had a personal stake in this
Backed by 98% of shareholders other than promotersneeded 50%
8.67 cr votes for, 14.39 L against · 3% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 90 named members
owning 54.9% between them · as of 2026-06-30
BAJAJ HOLDINGS AND INVESTMENT LIMITED34.19%
JAMNALAL SONS PVT LIMITED9.29%
MAHARASHTRA SCOOTERS LIMITED2.48%
BAJAJ SEVASHRAM PVT LIMITED1.58%
BACHHRAJ AND COMPANY PVT LIMITED1.30%
BACHHRAJ FACTORIES PVT LIMITED0.69%
BARODA INDUSTRIES PVT LIMITED0.59%
SUMAN JAIN0.37%
Business done with them
FY2026 · 5 of the group
The company paid ₹2,693 cr to companies in the promoter group last year — about 4.3% of its ₹62,905 cr revenue and received ₹1,158 cr back from them.
BAJAJ HOLDINGS & INVESTMENT LIMITED.
Other payments to them · Dividend paid, Dividend received, Business support service received, Business support service rendered
also owns 34.19% of the company
₹2,006 cr
company paid
BAJAJ FINANCE LIMITED
Contribution received from them · Service rendered, Service received, Investment in fixed deposit, (Redemption) of fixed deposit, Interest income/(reversal) on fixed deposit
₹1,042 cr
company received
BAJAJ FINANCE LIMITED
Contribution made to them · Service rendered, Service received, Investment in fixed deposit, (Redemption) of fixed deposit, Interest income/(reversal) on fixed deposit
₹504 cr
company paid
MAHARASHTRA SCOOTERS LTD
Other payments to them · Dividend paid, Purchases, Services rendered
also owns 2.48% of the company
₹144 cr
company paid
BAJAJ FINANCE LIMITED
Other income from them · Service rendered, Service received, Investment in fixed deposit, (Redemption) of fixed deposit, Interest income/(reversal) on fixed deposit
₹49 cr
company received
BAJAJ HOLDINGS & INVESTMENT LIMITED.
Other income from them · Dividend paid, Dividend received, Business support service received, Business support service rendered
also owns 34.19% of the company
₹33 cr
company received
BAJAJ FINANCE LIMITED
Provided services to them · Service rendered, Service received, Investment in fixed deposit, (Redemption) of fixed deposit, Interest income/(reversal) on fixed deposit
₹32 cr
company received
BAJAJ HOLDINGS & INVESTMENT LIMITED.
Paid them for services · Dividend paid, Dividend received, Business support service received, Business support service rendered
also owns 34.19% of the company
₹31 cr
company paid
BAJAJ FINANCE LIMITED
Paid them for services · Service rendered, Service received, Investment in fixed deposit, (Redemption) of fixed deposit, Interest income/(reversal) on fixed deposit
₹7 cr
company paid
BAJAJ HOLDINGS & INVESTMENT LIMITED.
Provided services to them · Dividend paid, Dividend received, Business support service received, Business support service rendered
also owns 34.19% of the company
₹3 cr
company received
HIND MUSAFIR AGENCY LIMITED
Paid them for services · Services received
₹4 L
company paid
MAHARASHTRA SCOOTERS LTD
Provided services to them · Dividend paid, Purchases, Services rendered
also owns 2.48% of the company
₹1 L
company received
BAJAJ AUTO HOLDINGS LIMITED
Provided services to them · Business Support Services Rendered
₹1 L
company received

The company also transacted with 31 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.