āagman

Not investment advice. Data and computed figures, for information only.

Bajaj Auto Ltd

NSE: BAJAJ-AUTOF&O
₹10,385.00
+₹135.00 (+1.32%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹2,68,703 Cr
CMP
₹10,385.00
52-wk High / Low
₹12,470 / 8,605
P/E
22.8
P/B
7.0
Book Value
₹1,389.0
Div Yield
1.53%
ROCE
28.0%
ROE
29.2%
Face Value
₹10
D/E
0.58

Price+16.1% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹3,466
√(22.5 × EPS × book value per share)
ROIC
15.3%
vs 11.5% sector median
Cash flow to profit
0.25
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−39
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
19.0%
ROE × earnings retention ratio
ROE stability
3.1
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.19DII −0.93
Latest quarter vs the previous one
Cash-accrual divergence
12.2%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 23% vs the 2022 sector median of 14%)
+Price trades above its 200-day moving average (1.0x)
+Annualised volatility of 24.4% is in the low band (≤25%)
+PE of 22.8x is below the sector median of 35.7x
Watch-outs
−Borrowings are up 19148.3% since FY2016 (118 to 22713)
−Balance-sheet accruals of 12.2% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales10,31210,83812,16511,55511,93213,24713,16912,64613,13315,73516,20417,83221,689
Expenses8,3808,7089,7509,2719,56211,17410,41810,28910,34012,90612,47514,75717,161
Operating Profit1,9322,1302,4152,2842,3702,0732,7512,3582,7932,8293,7303,0754,528
OPM %18.7%19.7%19.9%19.8%19.9%15.6%20.9%18.6%21.3%18.0%23.0%17.2%20.9%
Other Income3515523564443353993483925095763591,894688
Interest12712304775120147224287314344387
Depreciation879293939598102119118119119289405
Profit before tax2,1842,5842,6662,6062,5642,2992,8762,4842,9612,9993,6564,3364,423
Net Profit1,6442,0202,0332,0111,9421,3852,1961,8022,2102,1222,7503,4923,189
EPS (₹)58.1171.3971.7872.0569.5549.6178.6264.5279.1575.9998.38131.02115.41

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales21,59522,57421,75525,21030,35829,91927,74133,14536,45544,87050,99562,90571,460
Expenses17,46717,78117,32620,36425,16024,80922,80327,88629,99136,10641,44049,80857,299
Operating Profit4,1284,7934,4294,8465,1985,1094,9385,2596,4658,7659,55513,09714,161
OPM %19.1%21.2%20.4%19.2%17.1%17.1%17.8%15.9%17.7%19.5%18.7%20.8%19.8%
Other Income2281,1941,4681,4042,0281,8321,5702,6711,7031,7001,4722,6683,517
Interest6111437940603891,1691,332
Depreciation267307307315266246259270286365414645932
Profit before tax4,0835,6795,5885,9336,9566,6926,2417,6527,84210,04010,22413,95215,414
Net Profit3,0264,0614,0794,2194,9285,2124,8576,1666,0607,7087,32510,57411,553
EPS (₹)104.56140.35140.98145.80170.29180.11167.85213.08214.17276.10262.29384.41420.80

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital289289289289289289289289283279279280—
Reserves10,80613,73117,56720,13622,94421,37326,98429,57029,07928,68334,90938,552—
Borrowings1121181201211251261211231241,9129,36422,713—
Other Liabilities4,7583,1023,6614,5955,4764,7226,2075,1295,6518,4709,55715,369—
Total Liabilities15,96617,24021,63825,14128,83426,51033,60235,11135,13639,34454,11076,914—
Fixed Assets2,4482,0262,0021,8781,7641,6991,6681,8362,8423,2173,67711,961—
CWIP255524256486016778535611,521—
Investments8,98511,06715,47718,89520,60319,91424,68726,63426,18328,08728,91424,642—
Other Assets4,2774,0954,1174,3126,4204,8377,2326,5646,0268,00521,45938,790—
Total Assets15,96617,24021,63825,14128,83426,51033,60235,11135,13639,34454,11076,914—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,5022,1143,6903,2674,3282,4873,8503,1204,1975,2776,558−1,4062,597
Cash from Investing Activity−2,072−380−68−3,610−1,954−2731,766−2,8692761,211−72−1,053−7,018
Cash from Financing Activity−1,496−1,644−3,384−190−1,885−2,074−6,247−20−4,056−7,181−6,1674,2305,079
Net Cash Flow−6690238−532488140−630231417−6923191,771658

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %50.040.045.035.031.030.030.025.023.027.034.028.028.0
ROE %————————————29.2
EPS (₹)116.82104.56140.35140.98145.80170.29180.11167.85213.08214.17276.10262.29384.41
Book Value (₹)————————————1,389.0
Face Value (₹)————————————10
P/E————————————22.8
Div Yield %————————————1.53
NPM %16.813.917.117.615.915.216.416.617.215.916.614.016.1
OPM %21.019.021.020.019.017.017.018.016.018.020.019.021.0
D/E0.010.010.010.010.010.010.010.000.000.000.070.270.58
P/B————————————7.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+11.0%
5 years+18.0%
3 years+20.0%
TTM+37.0%
Compounded profit growth
10 years+10.0%
5 years+17.0%
3 years+21.0%
TTM+55.0%
Stock price CAGR
10 years+13.0%
5 years+20.0%
3 years+24.0%
Last year+9.0%
Return on equity
10 years23.0%
5 years24.0%
3 years26.0%
Last year29.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.30%49.30%49.30%51.18%53.66%53.70%53.77%54.99%55.06%55.03%55.01%55.01%
FIIs17.44%17.44%17.20%15.64%13.94%11.99%10.49%12.35%14.53%11.61%8.82%9.01%
DIIs7.67%7.67%8.51%7.38%8.76%12.29%13.17%10.79%8.47%10.92%14.35%13.42%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.07%0.08%0.08%0.12%0.12%
Public25.59%25.59%24.99%25.80%23.64%22.02%22.57%21.79%21.88%22.32%21.62%22.44%
No. of shareholders80,36080,36088,3771,09,5411,25,2631,56,9552,33,2252,09,0762,97,6053,44,3143,14,0956,78,954
Change since Jun 2023 (pp)
Promoters +5.71FIIs −8.43DIIs +5.75Public −3.15

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBoard Meeting Intimation for The Unaudited Standalone And Consolidated Financial ResultsAnnouncement under Regulation 30 (LODR)-Press Release / Media ReleaseAnnouncement under Regulation 30 (LODR)-Newspaper PublicationClosure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026RecordingMay 2026TranscriptFeb 2026TranscriptFeb 2026RecordingNov 2025TranscriptNov 2025RecordingNov 2025Recording

Corporate actions

As of 29 May 2026
29 May 2026DIVIDENDDividend - Rs 150 Per Share—
20 Jun 2025DIVIDENDDividend - Rs 210 Per Share—
14 Jun 2024DIVIDENDDividend - Rs 80 Per Share—
30 Jun 2023DIVIDENDDividend - Rs 140 Per Share—
30 Jun 2022DIVIDENDDividend - Rs 140 Per Share—
8 Jul 2021DIVIDEND Annual General Meeting/Dividend - Rs 140 Per Share—
3 Mar 2020DIVIDEND Interim Dividend - Rs 120 Per Share—
11 Jul 2019DIVIDEND Annual General Meeting/ Dividend - Rs 60 Per Share—
5 Jul 2018DIVIDEND Annual General Meeting / Dividend- Rs 60 Per Share—
6 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 55/- Per Share—
14 Jul 2016DIVIDEND Annual General Meeting/ Dividend - Rs 5/- Per Share—
16 Mar 2016DIVIDEND Interim Dividend - Rs 50/- Per Share (Purpose Revised)—
9 Jul 2015DIVIDENDAnnual General Meeting/Dividend Rs 50/- Per Share—
3 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs 50/- Per Share—
4 Jul 2013DIVIDENDAnnual General Meeting / Dividend - Rs.45/- Per Equity Share—
5 Jul 2012DIVIDENDAnnual General Meeting And Dividend - Rs.45/- Per Share—
29 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.40/- Per Share—
8 Sep 2010BONUSBonus 1:1—
8 Jul 2010DIVIDENDAnnual General Meeting / Dividend Rs.40/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman