Bajaj Auto Q4 Review - Exports Growing On Strong Footing; Focus Shifting To EVs: Nirmal Bang

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Bajaj Auto Ltd.’s Q4 FY22 operating performance came in ahead of our estimate, led by strong beat on revenue and gross margin. Revenue beat of ~5% was primarily led by higher realisations at Rs 79,100 versus our estimate of Rs 77,600. Gross margin came in at 28.1% versus our estimate of 25.3%. The beat was led by price hikes, higher exports, favorable forex realisations, raw material cost deferment and an optimum product mix. Ebitda margin came in at 17.1%. We expect raw material cost pressures to spill over in Q1 FY23, post which a gradual correction in raw material cost may benefit margins. However, currency tailwind, favorable mix and price hikes should partially support margins. Bajaj Auto's management has also guided that margins will remain stable despite raw material cost headwinds. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bajaj Auto Q4 Review - Exports Growing On Strong Footing; Focus Shifting To EVs: Nirmal Bang

Bajaj Auto Q4 Review - Exports Growing On Strong Footing; Focus Shifting To EVs: Nirmal Bang

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