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Bajaj Auto Limited
(BAJAJ.AUTO)
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Rating:61Neutral
Price Target:
₹10,624.00
▼(-9.58% Downside)
Action:Reiterated
Date:10/02/26
The score is primarily supported by strong financial profitability and revenue momentum, but is held back by weaker quality-of-earnings (volatile operating/free cash flow) and a clear negative leverage trend. Technically, the stock shows very weak momentum and sits below major moving averages, further pressuring the overall rating, while valuation appears moderate with a modest dividend yield.
Positive Factors
Strong revenue growth and profitability
Sustained revenue compounding alongside high net and operating margins indicates strong underlying demand and effective operating economics. This combination supports reinvestment, resilience across product cycles, and the potential for earnings to remain durable over the next several quarters.
Negative Factors
Rising leverage
The sharp increase in debt and debt-to-equity represents a meaningful deterioration from Bajaj Auto’s historically low-debt profile. Higher leverage can reduce financial flexibility, increase obligations against future cash flows, and constrain capital allocation if operating conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth and profitability
Sustained revenue compounding alongside high net and operating margins indicates strong underlying demand and effective operating economics. This combination supports reinvestment, resilience across product cycles, and the potential for earnings to remain durable over the next several quarters.
Read all positive factors
Bajaj Auto Limited (BAJAJ.AUTO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.85T
Dividend Yield1.45%
Average Volume (3M)16.61K
Price to Earnings (P/E)22.1
Beta (1Y)1.13
Revenue Growth47.85%
EPS Growth57.37%
CountryIN
Employees5,231
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)469.58
Shares Outstanding274,803,830
10 Day Avg. Volume10,504
30 Day Avg. Volume16,614
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)6.31
Price to Sales (P/S)3.90
P/FCF Ratio110.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹11,700.00Price Target Upside-0.43% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)454.06
Revenue Forecast (FY)₹747.91B
Bajaj Auto Limited Business Overview & Revenue Model
Company Description
Bajaj Auto Limited, an Indian automotive major, primarily engages in the design, manufacturing, and distribution of a variety of vehicles. Its operations are structured across two main divisions: Automotive and Investments. The company's extensive...
How the Company Makes Money
Bajaj Auto makes money mainly by selling vehicles (two-wheelers and three-wheelers) in India and through exports to international markets. Its core revenue stream is the sale of motorcycles and scooters under the Bajaj brand, where earnings are dr...
Bajaj Auto Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 800.33B | 629.05B | 518.61B | 461.61B | 373.25B | 342.87B |
| Gross Profit | 227.53B | 175.29B | 164.95B | 141.23B | 110.52B | 98.09B |
| EBITDA | 191.70B | 157.65B | 119.54B | 101.70B | 74.42B | 64.91B |
| Net Income | 130.73B | 107.44B | 73.25B | 77.08B | 60.60B | 61.66B |
Balance Sheet | ||||||
| Total Assets | 815.59B | 772.23B | 541.99B | 393.44B | 351.36B | 351.11B |
| Cash, Cash Equivalents and Short-Term Investments | 107.59B | 110.94B | 91.99B | 62.99B | 52.05B | 59.03B |
| Total Debt | 264.01B | 226.40B | 92.37B | 17.86B | 0.00 | 0.00 |
| Total Liabilities | 436.28B | 369.77B | 189.82B | 103.81B | 57.75B | 52.52B |
| Stockholders Equity | 366.06B | 388.32B | 351.89B | 289.62B | 293.62B | 298.60B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 22.22B | -19.78B | 58.35B | 41.67B | 36.46B |
| Operating Cash Flow | 0.00 | 27.83B | -11.64B | 65.58B | 52.77B | 41.97B |
| Investing Cash Flow | 0.00 | -74.78B | -13.64B | -3.18B | 12.00B | -808.60M |
| Financing Cash Flow | 0.00 | 53.38B | 42.96B | -61.93B | -71.81B | -40.56B |
Bajaj Auto Limited Technical Analysis
Positive
11750.00
Price Trends
11068.69
Negative
10844.18
Negative
10223.14
Positive
Market Momentum
-191.24
Negative
46.51
Neutral
65.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJAJ.AUTO, the sentiment is Positive. The current price of 11750 is above the 20-day moving average (MA) of 10174.25, above the 50-day MA of 11068.69, and above the 200-day MA of 10223.14, indicating a neutral trend. The MACD of -191.24 indicates Negative momentum. The RSI at 46.51 is Neutral, neither overbought nor oversold. The STOCH value of 65.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BAJAJ.AUTO.
Bajaj Auto Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ₹1.99T | 34.40 | ― | 1.13% | 28.07% | 19.24% | |
77 Outperform | ₹1.02T | 17.02 | ― | 3.62% | 27.00% | 13.55% | |
61 Neutral | ₹2.85T | 22.11 | ― | 1.45% | 47.85% | 57.37% | |
59 Neutral | ₹2.03T | 53.11 | ― | 0.28% | 34.00% | 46.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹658.16B | -270.85 | ― | ― | ― | ― | |
42 Neutral | ₹175.65B | -8.66 | ― | ― | -49.16% | 26.59% |
* General Sector Average
IN:BAJAJ.AUTO
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.