Bajaj Auto Q4 Results Review - Margins Maintained Despite Lower Sequential Volumes: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Bajaj Auto Ltd. reported healthy Q4 FY24 performance as Ebitda/profit after tax came in higher at Rs 23.1 billion/Rs 19.4 billion (versus estimate of Rs 21.6 billion/Rs 18.2 billion) driven by a better average selling price at Rs 107,500/unit (versus estimate of Rs 102,600/unit). While Bajaj Auto is likely to outperform the domestic motorcycles segment led by its healthy launch pipeline, the export outlook remains uncertain given the geopolitical headwinds in key markets. We maintain our FY25/FY26 estimates. Bajaj Auto has witnessed the most rerating in the last 12 months, aided by a better-than-expected performance and a one-of-a-kind policy to reward its shareholders. After the sharp rally, however, the stock at ~28 times/24 times FY25E/26E EPS appears fairly valued. We reiterate our Neutral rating with a target price of Rs 8,360 (premised on 22 times FY26E consolidated earnings per share)..Click on the attachment to read the full report:.Bajaj Auto Q4 Results: Profit Surges By More Than A Third, Revenue Up 29%.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bajaj Auto Q4 Results Review - Margins Maintained Despite Lower Sequential Volumes: Motilal Oswal

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