Bajaj Auto Ltd (BAJAJ-AUTO) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.56%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 9.0%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 29.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹10,653.60

200-Day DMA ● Overlay

₹9,880.80

14-Day RSI ● Overlay

54 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.75 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

23.4x

Price / EPS

Book Value (₹) Assets

₹1,389.0

P/B: 7.2x

ROE (%) Quality

29.2%

Net Profit / Equity

ROCE (%) Efficiency

28.2%

EBIT / Capital

Dividend Yield Yield

1.50%

Face Value: ₹10

Debt / Equity Solvency

0.58x

Manageable

EPS (TTM) Per Share

₹428.38

Trailing 12M

OPM (%) Spread

20.0%

EBITDA Margin

Free Cash Flow Cash

₹1,885 Cr

CFO - Capex

About Bajaj Auto Ltd

Bajaj Auto Ltd (BAJAJ-AUTO) is a leading Indian enterprise operating in the Automobile sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 14.4% × Turnover: 0.85x × Leverage: 1.58x = ROE: 29.2%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 29.2%).
• Efficient capital productivity with a high ROCE of 28.2%.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 7.2x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹71,460 Cr

Latest PAT

₹11,553 Cr

EPS (TTM)

₹428.38

OPM %

20.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹10,312 Cr	₹10,838 Cr	₹12,165 Cr	₹11,555 Cr	₹11,932 Cr	₹13,247 Cr	₹13,169 Cr	₹12,646 Cr	₹13,133 Cr	₹15,735 Cr	₹16,204 Cr	₹17,832 Cr	₹21,689 Cr
Operating Profit (EBITDA)	₹1,932 Cr	₹2,130 Cr	₹2,415 Cr	₹2,284 Cr	₹2,370 Cr	₹2,073 Cr	₹2,751 Cr	₹2,358 Cr	₹2,793 Cr	₹2,829 Cr	₹3,730 Cr	₹3,075 Cr	₹4,528 Cr
OPM %	19.0%	20.0%	20.0%	20.0%	20.0%	16.0%	21.0%	19.0%	21.0%	18.0%	23.0%	17.0%	21.0%
Interest Expense	₹12.00 Cr	₹7.00 Cr	₹12.00 Cr	₹30.00 Cr	₹47.00 Cr	₹75.00 Cr	₹120.00 Cr	₹147.00 Cr	₹224.00 Cr	₹287.00 Cr	₹314.00 Cr	₹344.00 Cr	₹387.00 Cr
Depreciation	₹87.00 Cr	₹92.00 Cr	₹93.00 Cr	₹93.00 Cr	₹95.00 Cr	₹98.00 Cr	₹102.00 Cr	₹119.00 Cr	₹118.00 Cr	₹119.00 Cr	₹119.00 Cr	₹289.00 Cr	₹405.00 Cr
Profit before Tax (PBT)	₹2,184 Cr	₹2,584 Cr	₹2,666 Cr	₹2,606 Cr	₹2,564 Cr	₹2,299 Cr	₹2,876 Cr	₹2,484 Cr	₹2,961 Cr	₹2,999 Cr	₹3,656 Cr	₹4,336 Cr	₹4,423 Cr
Net Profit (PAT)	₹1,644 Cr	₹2,020 Cr	₹2,033 Cr	₹2,011 Cr	₹1,942 Cr	₹1,385 Cr	₹2,196 Cr	₹1,802 Cr	₹2,210 Cr	₹2,122 Cr	₹2,750 Cr	₹3,492 Cr	₹3,189 Cr
EPS in ₹	₹58.11	₹71.39	₹71.78	₹72.05	₹69.55	₹49.61	₹78.62	₹64.52	₹79.15	₹75.99	₹98.38	₹131.02	₹115.41

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹21,595 Cr	₹22,574 Cr	₹21,755 Cr	₹25,210 Cr	₹30,358 Cr	₹29,919 Cr	₹27,741 Cr	₹33,145 Cr	₹36,455 Cr	₹44,870 Cr	₹50,995 Cr	₹62,905 Cr	₹71,460 Cr
Expenses	₹17,467 Cr	₹17,781 Cr	₹17,326 Cr	₹20,364 Cr	₹25,160 Cr	₹24,809 Cr	₹22,803 Cr	₹27,886 Cr	₹29,991 Cr	₹36,106 Cr	₹41,440 Cr	₹49,808 Cr	₹57,299 Cr
Operating Profit	₹4,128 Cr	₹4,793 Cr	₹4,429 Cr	₹4,846 Cr	₹5,198 Cr	₹5,109 Cr	₹4,938 Cr	₹5,259 Cr	₹6,465 Cr	₹8,765 Cr	₹9,555 Cr	₹13,097 Cr	₹14,161 Cr
OPM %	19%	21%	20%	19%	17%	17%	18%	16%	18%	20%	19%	21%	20%
Interest	₹6.00 Cr	₹1.00 Cr	₹1.00 Cr	₹1.00 Cr	₹4.00 Cr	₹3.00 Cr	₹7.00 Cr	₹9.00 Cr	₹40.00 Cr	₹60.00 Cr	₹389.00 Cr	₹1,169 Cr	₹1,332 Cr
Depreciation	₹267.00 Cr	₹307.00 Cr	₹307.00 Cr	₹315.00 Cr	₹266.00 Cr	₹246.00 Cr	₹259.00 Cr	₹270.00 Cr	₹286.00 Cr	₹365.00 Cr	₹414.00 Cr	₹645.00 Cr	₹932.00 Cr
Profit before Tax	₹4,083 Cr	₹5,679 Cr	₹5,588 Cr	₹5,933 Cr	₹6,956 Cr	₹6,692 Cr	₹6,241 Cr	₹7,652 Cr	₹7,842 Cr	₹10,040 Cr	₹10,224 Cr	₹13,952 Cr	₹15,414 Cr
Net Profit	₹3,026 Cr	₹4,061 Cr	₹4,079 Cr	₹4,219 Cr	₹4,928 Cr	₹5,212 Cr	₹4,857 Cr	₹6,166 Cr	₹6,060 Cr	₹7,708 Cr	₹7,325 Cr	₹10,574 Cr	₹11,553 Cr
EPS in Rs	104.56	140.35	140.98	145.80	170.29	180.11	167.85	213.08	214.17	276.10	262.29	384.41	420.80

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹283.00 Cr	₹279.00 Cr	₹279.00 Cr	₹280.00 Cr
Reserves & Surplus	₹10,806 Cr	₹13,731 Cr	₹17,567 Cr	₹20,136 Cr	₹22,944 Cr	₹21,373 Cr	₹26,984 Cr	₹29,570 Cr	₹29,079 Cr	₹28,683 Cr	₹34,909 Cr	₹38,552 Cr
Borrowings (Debt)	₹112.00 Cr	₹118.00 Cr	₹120.00 Cr	₹121.00 Cr	₹125.00 Cr	₹126.00 Cr	₹121.00 Cr	₹123.00 Cr	₹124.00 Cr	₹1,912 Cr	₹9,364 Cr	₹22,713 Cr
Total Liabilities	₹15,966 Cr	₹17,240 Cr	₹21,638 Cr	₹25,141 Cr	₹28,834 Cr	₹26,510 Cr	₹33,602 Cr	₹35,111 Cr	₹35,136 Cr	₹39,344 Cr	₹54,110 Cr	₹76,914 Cr
Fixed Assets	₹2,448 Cr	₹2,026 Cr	₹2,002 Cr	₹1,878 Cr	₹1,764 Cr	₹1,699 Cr	₹1,668 Cr	₹1,836 Cr	₹2,842 Cr	₹3,217 Cr	₹3,677 Cr	₹11,961 Cr
Total Assets	₹15,966 Cr	₹17,240 Cr	₹21,638 Cr	₹25,141 Cr	₹28,834 Cr	₹26,510 Cr	₹33,602 Cr	₹35,111 Cr	₹35,136 Cr	₹39,344 Cr	₹54,110 Cr	₹76,914 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹2,114 Cr	₹3,690 Cr	₹3,267 Cr	₹4,328 Cr	₹2,487 Cr	₹3,850 Cr	₹3,120 Cr	₹4,197 Cr	₹5,277 Cr	₹6,558 Cr	-₹1,406 Cr	₹2,597 Cr
Cash from Investing (CFI)	-₹380.00 Cr	-₹68.00 Cr	-₹3,610 Cr	-₹1,954 Cr	-₹273.00 Cr	₹1,766 Cr	-₹2,869 Cr	₹276.00 Cr	₹1,211 Cr	-₹72.00 Cr	-₹1,053 Cr	-₹7,018 Cr
Cash from Financing (CFF)	-₹1,644 Cr	-₹3,384 Cr	-₹190.00 Cr	-₹1,885 Cr	-₹2,074 Cr	-₹6,247 Cr	-₹20.00 Cr	-₹4,056 Cr	-₹7,181 Cr	-₹6,167 Cr	₹4,230 Cr	₹5,079 Cr
Free Cash Flow (FCF)	₹1,819 Cr	₹3,419 Cr	₹3,070 Cr	₹4,145 Cr	₹2,379 Cr	₹3,570 Cr	₹2,866 Cr	₹3,680 Cr	₹4,304 Cr	₹5,847 Cr	-₹2,273 Cr	₹1,885 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	12	12	16	22	31	21	36	17	18	17	15	20
Inventory Days	20	17	18	16	16	18	28	18	22	19	22	54
Cash Conversion Cycle (Days)	-11	-20	-22	-31	-17	-16	-22	-19	-18	-28	-29	-1
ROCE %	40%	45%	35%	31%	30%	30%	25%	23%	27%	34%	28%	28%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹6,542.53 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹11,040.00

DCF Fair Value

₹6,542.53

Graham Number

₹3,658.95

Margin of Safety

-52.5%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹6,542.53

Premium / Overvalued (Margin: -52.5%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹6,367	₹6,309	₹6,252	₹6,196
10%	₹6,485	₹6,426	₹6,368	₹6,311
12%	₹6,603	₹6,543	₹6,484	₹6,426
14%	₹6,720	₹6,659	₹6,599	₹6,540

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹6,543	Fairly Valued
Benjamin Graham Number	₹3,659	Market Priced
Historical Sector P/E	₹9,424	Premium
EV / EBITDA Multiplier	₹11,592	In-Line
Free Cash Flow Yield Model	₹10,819	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

4.01 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.58x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 20.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

55.01%

FIIs (Foreign)

9.01%

DIIs (Domestic)

13.42%

Government

0.15%

Public / Retail

22.44%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	54.99%	54.95%	55.06%	55.06%	55.04%	55.04%	55.03%	55.04%	55.04%	54.99%	55.01%	55.01%
+ FIIs (Foreign Portfolio)	14.37%	14.64%	14.53%	14.19%	14.32%	12.45%	11.61%	10.30%	9.66%	8.84%	8.82%	9.01%
+ DIIs (Mutual Funds / Insurance)	9.03%	8.66%	8.47%	8.73%	8.67%	9.98%	10.92%	12.01%	12.78%	14.07%	14.35%	13.42%
+ Public (Retail & HNIs)	21.54%	21.67%	21.88%	21.92%	21.89%	22.44%	22.32%	22.53%	22.51%	22.01%	21.62%	22.44%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Automobile.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

BAJAJ-AUTO Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

BAJAJ-AUTO Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

BAJAJ-AUTO Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹14,131.20

Accelerated market share capture in Automobile, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹12,364.80

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 23x P/E.

🐻 Bear Case (15%) -12.0%

₹9,715.20

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Automobile)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 21:03 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Bajaj Auto Ltd (BAJAJ-AUTO)	Target Stock	₹11,040.00	+0.56%	23.4x	29.2%	28.2%	0.58	₹2.75 Lakh Cr
Maruti Suzuki India Ltd (MARUTI)	Passenger Vehicles	₹13,185.00	+1.99%	24.8x	14.3%	18.9%	0.00	₹3.56 Lakh Cr
Mahindra & Mahindra Ltd (M&M)	SUVs, Tractors & Commercial	₹3,465.00	+5.30%	18.6x	20.3%	15.1%	1.47	₹3.56 Lakh Cr
Tata Motors Ltd (TATAMOTORS)	Commercial & Electric Vehicles (JLR)	₹418.10	-0.84%	10.8x	48.5%	21.5%	1.45	₹3.55 Lakh Cr
TVS Motor Company Ltd (TVSMOTOR)	Two Wheelers & EV Scooters	₹4,560.00	+1.20%	54.2x	33.6%	17.4%	3.43	₹1.91 Lakh Cr
Eicher Motors Ltd (EICHERMOT)	Royal Enfield & Commercial Trucks	₹7,592.00	-0.48%	31.7x	24.0%	30.5%	0.02	₹1.90 Lakh Cr
Samvardhana Motherson Intl (MOTHERSON)	Sector Peer	₹169.69	+4.81%	36.2x	11.2%	13.4%	0.47	₹1.65 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	21:03:10 IST	✓ Live Sync
Financial Statements (10Y)	Bajaj Auto Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Bajaj Auto Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Bajaj Auto Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Automobile)

Metric Explainer

Stock DNA Methodology

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