Nirmal Bang: Bajaj Auto - Cost Control, Strong Exports Are The Key Highlights 
An employee works on the assembly line at the Bajaj Auto Ltd. plant in Chakan, India. (Photographer Adeel Halim/Bloomberg)

Nirmal Bang: Bajaj Auto - Cost Control, Strong Exports Are The Key Highlights 

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 Q2 FY21 net profit of Rs 11.4 billion is a tad below our estimate of Rs 11.88 billion and was driven by a strong operating performance.

Revenue came in at Rs 71.9 billion, down 7% YoY and largely in line with our expectation. ASP growth was 4.6% YoY.

Reported Ebitda margin stood at 18.1%, up 120 basis points YoY and 390 basis points QoQ but was marginally below our estimate of 18.5%.

The strong operating performance was on the back of tight cost control measures and lower marketing and ad spends, aided by better forex realisations and better product mix within motorcycles.

Click on the attachment to read the full report:

Nirmal Bang Bajaj Auto Q2FY21 Result Update-23 October 2020.pdf

DISCLAIMER

This 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 brokerage 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.