Bajaj Auto Q4 Review - Higher Raw Material Cost Keeps Margin Under Pressure: Motilal Oswal
Bajaj Auto Ltd. Pulsar motorcycles sit ready at the end of the assembly line at the company's factory in Pune, India. (Photographer Kuni Takahashi/Bloomberg)

Bajaj Auto Q4 Review - Higher Raw Material Cost Keeps Margin Under Pressure: Motilal Oswal

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.

Motilal Oswal Report

Bajaj Auto Ltd.’s Q4 FY21 performance was supported by favourable mix and price hikes, which helped in diluting commodity inflation.

It has both near (three-wheeler recovery) and long term (premiumization and exports) levers, which are fairly reflected in current valuations.

Revenue/Ebitda/profit after tax fell 26%/21.7%/1.7% YoY and 7.3%/3.3%/10.7% YoY in Q4 and FY21, respectively.

The company announced a dividend of Rs 140/share (approximately 90% payout) based on its revised dividend policy.

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Motilal Oswal Bajaj Auto Q4FY21 Result Review.pdf

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