NSE: BAJAJ-AUTO · BSE: 532977 · ISIN INE917I01010
Bajaj Auto Limited stock analysis
Bajaj Auto Limited ranks #306 in the TickerSutra evidence-ranked universe with a score of 67/100 and 95% data confidence. The latest captured fundamentals show ROCE of 28.2%, quarterly sales growth of 65.1% and quarterly profit growth of 45.9%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 28.2%
- 19.9% three-year sales CAGR
- CWIP indicates an active capacity pipeline
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹33,145cr | ₹5,259cr | ₹6,166cr | 16.0% |
| 2023 | ₹36,455cr | ₹6,465cr | ₹6,060cr | 18.0% |
| 2024 | ₹44,870cr | ₹8,765cr | ₹7,708cr | 20.0% |
| 2025 | ₹50,995cr | ₹9,555cr | ₹7,325cr | 19.0% |
| 2026 | ₹62,905cr | ₹13,097cr | ₹10,574cr | 21.0% |
| TTM | ₹71,460cr | ₹14,161cr | ₹11,553cr | 20.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Intimation is hereby given for Newspaper Advertisement regarding the Notice of Special Window for Transfer and Dematerialisation of Physical Securities.
RoutineCopy of Newspaper PublicationNSE · 29 Sept 2026Bajaj Auto Limited has informed the Exchange about the Newspaper Publication regarding Notice of Special Window for Transfer and Dematerialisation of Physical Securities.
RoutineTrading WindowBSE · 28 Sept 2026Bajaj Auto Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
MANAGEMENT COMMENTARY
Signals from filed documents
KTM motorcycle exports from India have revived after the disruption of past several quarters. In quarter 1, KTM exports from India grew by 20% plus, while the Triumph brand exports grew by 40% year -on-year. Three-wheeler exports delivered a record of 100,0 00 units, growing by almost 70%, commanding a dominant market share of over 65% of three-wheeler exports from India, and our growth of secular across regions in m
Together these factors more than offset the challenges on input cost inflation even after the pricing actions were taken through the quarter. On a year-on-year basis, margins improved by 110 basis points, primarily driven by favourable currency movements and improved operating leverage, which more than offset the adverse cost versus price dynamics. All of this flowed through to the bottom line as well with profit aft
And the organization remains intensely focused on sourcing efficiencies and prudent control and questions over discretionary expenditure. To sum it up, the sequential margin expansion was primarily supported by higher realizations and a richer mix that you will see reflected on the GM, gross margin line, which reduced the extent of the severe commodity inflation, which was then made up by operating leverage arising f
To sum it up, the sequential margin expansion was primarily supported by higher realizations and a richer mix that you will see reflected on the GM, gross margin line, which reduced the extent of the severe commodity inflation, which was then made up by operating leverage arising from higher volumes and disciplined cost management across the organization that you will see reflected on the other expenses line. Togethe
What I find noteworthy about this performance is that you will have noticed virtually every operating lever of the business has contributed to this top line. Volume remained the single largest driver with the business delivering strong sales growth across both domestic and export markets. Pricing, as I discussed earlier, was implemented in a calibrated manner through April and June to recover a significant portion of
Demand, however, continued to remain ahead of our ability to supply. Capacity expansion has been undertaken, with an immediate and medium -term focus to enable us better serve the growing market. The reach of Chetak today stands at over 530 exclusive stores, supported by a wide network of 4,500 customer touch points across more than 850 cities.
The 90% of that category is lead acid. Now lead acid is not looked on favourably by the regulators for obvious reasons. And there have been now increasing instances where permits are not renewed or not given for lead acid based e-ricks.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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