BAJA—59

Bajaj Auto Ltd

Auto & Truck ManufacturersVerified

Score breakdown

Profitability+23Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion94AI synthesis40Observations23

Bajaj Auto maintains a debt-to-equity ratio of 0.26, indicating a conservative capital structure with limited leverage [doc:Valuation snapshot]. Free cash flow of 48.4 billion INR supports operational flexibility, though operating cash flow is negative at -14.1 billion INR, suggesting short-term liquidity pressures [doc:Financial snapshot]. The company's return on equity of 20.82% and return on assets of 13.51% outperform typical industry benchmarks for capital efficiency [doc:Valuation snapshot]. Profitability metrics show strong gross and operating margins, with gross profit of 147.8 billion INR and operating income of 99.5 billion INR on 508.3 billion INR in revenue. These figures align with the industry_config preference for high-margin, asset-light manufacturing models [doc:Financial snapshot]. Net income of 73.2 billion INR reflects a healthy conversion of operating income to bottom-line earnings. The Automotive segment dominates revenue, with disclosed product lines including motorcycles (Pulsar, Avenger, KTM), commercial vehicles (Good Carriers), and three-wheelers (Maxima Z). Geographically, the company operates in India and global markets, though revenue concentration data is not provided in the input [doc:HA-latest]. Outlook data indicates a positive revenue trajectory, with current FY growth and next FY projections not explicitly quantified. Historical revenue growth is supported by expanding product lines and international market penetration [doc:Financial snapshot]. Analysts project a mean price target of 10,155.45 INR, with a median of 10,401.13 INR, reflecting moderate optimism [doc:IR observations]. Risk assessment highlights medium liquidity risk due to negative net cash after debt, though dilution risk is low. No recent dilutive events are disclosed, and the company's capital structure remains stable [doc:Risk assessment]. Recent filings and transcripts do not include material events affecting valuation or operations [doc:HA-latest].

Profile

CompanyBajaj Auto Ltd

TickerBAJA.NS

SectorConsumer Cyclicals

BusinessAutomobiles & Auto Parts

Industry groupAutomobiles & Auto Parts

IndustryAuto & Truck Manufacturers

AI analysis

Business. Bajaj Auto Limited develops, manufactures, and distributes two-wheelers, three-wheelers, quadricycles, and electric vehicles, with primary revenue derived from the Automotive segment [doc:HA-latest].

Classification. Bajaj Auto is classified under industry "Auto & Truck Manufacturers" within the Consumer Cyclicals economic sector, with a confidence level of 0.92 [doc:verified market data].

Key takeaways

Bajaj Auto maintains a strong return on equity (20.82%) and return on assets (13.51%), indicating efficient capital use.
Free cash flow of 48.4 billion INR supports operational flexibility despite negative operating cash flow.
Analysts project a mean price target of 10,155.45 INR, with a median of 10,401.13 INR, reflecting moderate optimism.
The company's debt-to-equity ratio of 0.26 suggests a conservative capital structure with limited leverage.
Revenue is heavily concentrated in the Automotive segment, with no disclosed geographic concentration risks.
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Financial snapshot

PeriodHA-latest

CurrencyINR

Revenue$508.30B

Gross profit$147.83B

Operating income$99.52B

Net income$73.25B

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$14.06B

CapEx-$8.74B

Free cash flow$48.40B

Total assets$541.99B

Total liabilities$190.10B

Total equity$351.89B

Cash & equivalents—

Long-term debt$92.37B

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$508.30B$99.52B$73.25B$48.40B

FY-1$447.09B$82.90B$77.08B$33.89B

FY-2$363.34B$60.88B$60.60B$11.88B

FY-3$330.19B$48.90B$61.66B$18.35B

FY-4$276.08B$45.98B$48.57B$48.46B

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$541.99B$351.89B——

FY-1$393.66B$289.62B——

FY-2$351.36B$293.62B——

FY-3$351.11B$298.60B——

FY-4$336.02B$272.73B——

PeriodOCFCapExFCFSBC

FY0-$14.06B-$8.74B$48.40B—

FY-1$65.52B-$7.23B$33.89B—

FY-2$52.77B-$11.10B$11.88B—

FY-3$41.97B-$5.51B$18.35B—

FY-4$31.20B-$2.60B$48.46B—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$162.04B$35.34B$27.50B—

FQ-1$157.35B$33.44B$21.22B—

FQ-2$131.33B$26.75B$22.10B—

FQ-3$126.46B$25.74B$18.02B—

FQ-4$131.69B$26.49B$21.96B—

FQ-5$132.47B$25.55B$13.85B—

FQ-6$119.32B$22.75B$19.42B—

FQ-7$115.55B$21.91B$20.11B—

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0————

FQ-1$654.56B$341.70B$1.93B—

FQ-2————

FQ-3$541.99B$351.89B$5.16B—

FQ-4————

FQ-5$458.42B$309.79B$4.43B—

FQ-6————

FQ-7$393.66B$289.62B$14.77B—

PeriodOCFCapExFCFSBC

FQ0————

FQ-1-$2.60B-$2.32B——

FQ-2————

FQ-3-$14.06B-$8.74B——

FQ-4————

FQ-5$764.6M-$3.15B——

FQ-6————

FQ-7$65.52B-$7.23B——

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$351.89B

Net cash-$92.37B

Current ratio—

Debt/Equity0.3

ROA13.5%

ROE20.8%

Cash conversion-19.0%

CapEx/Revenue-1.7%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Auto & Truck Manufacturers · cohort 1 companies

MetricBAJAActivity

Op margin19.6%10.7% medp25 10.7% · p75 10.7%top quartile

Net margin14.4%9.4% medp25 9.4% · p75 9.4%top quartile

Gross margin29.1%18.0% medp25 14.3% · p75 20.2%top quartile

R&D / revenue—4.4% medp25 4.4% · p75 4.4%

CapEx / revenue-1.7%4.3% medp25 4.3% · p75 4.3%bottom quartile

Debt / equity26.0%52.5% medp25 52.5% · p75 52.5%bottom quartile

Observations

IR observations

Mean price target10,155.45 INR

Median price target10,401.13 INR

High price target11,500.00 INR

Low price target8,000.00 INR

Mean recommendation2.43 (1=strong buy, 5=strong sell)

Strong-buy count10.00

Buy count10.00

Hold count10.00

Sell count5.00

Strong-sell count2.00

Mean EPS estimate345.56 INR

Last actual EPS262.00 INR

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-01 07:48 UTC#c77e181a

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 07:50 UTCJob: fcae9057