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18 December 2017

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Bajaj Auto Ltd (Automobiles - Scooters And 3 - Wheelers)

Last Price 3,198.80
Net Changes 36.00
Volume 679114
Prev Close 3,162.80
3,198.80 36.00 (1.14%)
Date: Dec 15,2017 EOD




Index Details Automobiles - Scooters And 3 - Wheelers


Chart

Stock Price Details

Market Statistics

Open Price 3184 Div Yield (%) 1.72
Buy (Size) 0.00(×0) Eps(Rs) 130.81
Sell (Size) 0.00(×0) Book Value(Rs) 590.9254588
Buy Quantity 0 Market Cap(Rs.Cr) 92751.77
Sell Quantity 0 Face Value(Rs) 10
Today's High 3259.9 Market Lot 1
Today's Low 3168.8 AGM Date Jul
52-Week High 3371.5 Book Closure Date Jul
52-Week Low 2554.55 ISIN No. INE917I01010

Share Holding Pattern

  No Of shares % Share Holding
Total Foreign (Promoter & Group) 0 0.00
Indian (Promoter & Group) 142657982 49.30
Total of Promoter 142657982 49.30
Non Promoter (Institution) 75360759 26.04
Non Promoter (Non-Institution) 71348279 24.66
Total Non Promoter 146709038 50.70
Total Promoter & Non Promoter 289367020 100.00
Custodians(Against Depository Receipts) 0 0.00
Grand Total 289367020 100.00

Company News

04-Dec-2017  Capitaline Corner: Bajaj Auto
Capitaline Corner: Bajaj Auto

Back on the growth track

Motorcycles and three-wheelers as well as exports are projected to grow from H2 of the current fiscal year

Bajaj Auto (Bal) is the world’s fourth largest two- and three- wheeler manufacturer. The Bajaj brand is familiar in Latin America, Africa, Middle East, South and South East Asia.

The domestic motorcycle industry was affected from November 2016 to July 2017 due to demonetization in November 2016, change in BS4 emission regulation in March 2017 and implementation of the goods and services tax in July 2017.

With the impact of these issues behind and corrective product actions taken, the industry is likely to post healthy growth over the next 12-18 months.

Around 60% of the economy segment is electric start versions. Since there were no products catering to this segment, there was loss of market share over the last two years. However, new launches including CT100 ES, Platina ES, and Platina Comfortec have plugged the gaps and managed to lift average volumes in the segment. These product actions are helping regain the lost share in the segment.

Presence in the executive segment was languishing as V12 and Discover volumes were on a downtrend due to certain product issues. As these concerns have now been addressed, volumes are expected to recover. A new brand launch is planned in the 125cc commuter segment in Q4 of the fiscal year ending March 2010 (FY 2018).

There was absence in the 160cc space in the premium segment. Thus, customers preferred TVS Motor’s Apache 160 and Honda Motor and Scooters India’s Unicorn 160 due to their attractive pricing compared with Pulsar 150. Now, with the launch of new Pulsar NS 160, the vacuum has been addressed.

Partnership with KTM of Austria, Husqvarna of Sweden and Triumph of the UK will strengthen leadership in the premium segment, where there will be the widest presence, covering the entire gamut of premium motorcycles: the super sports and cruiser segments.

Changes in regulatory norms across the nation are boosting demand for three-wheelers in the domestic market. Maharashtra has removed the cap on the number of three-wheeler permits that could be issued. The last batch of fresh permits was issued in FY 2014 and FY 2015.

The Karnataka government has mandated replacement of the existing two-stroke three-wheelers with four-stroke three-wheelers in Bengaluru. Recently, 10,000 permits were released in New Delhi and more are to follow.

There is expectation that other states, too, will remove the cap on permits. The release of pent-up demand will boost sales of the dominant player in the passenger three-wheeler space.

Despite being the last player to enter the three-wheeler cargo segment in Q4 of FY 2016), the market share had reached around 17% in H1 of FY 2018 from 12% in FY 2017, within seven quarters of operations. Volumes were 13,000 in FY 2017 compared with 1.10 lakh of the industry. RE Maxima in the segment provides 12% more power and 15% lower running cost compared with the closest competitor. The target is to increase the market share 5% every year.

Exports, which had been falling due to various issues, since the past few quarters, seem to have bottomed out and ready to grow. The target is export volumes of close to 1.7 million in FY 2018, growth of 21% from the previous year.

Foothold is being strengthened in nascent markets. The new markets are medium to small geographies, with high growth potential. Sales in these markets are tilted towards higher-end motorcycles.

New markets currently contribute around 16% of the export volumes as against 10% in FY 2017 and 6% in FY 2016. The share is likely to increase to 20-22% by the end of FY 2018. The expanding share of the nascent markets will dilute the dependency on Africa. The export mix will tilt in favor of the premium segment.

After payment of dividends, cash and cash equivalents stood at Rs 12699 crore end September 2017. Sales grew 12%to Rs 12022.28 crore but profit after tax (Pat) fell 3% to Rs 2035.82 crore in H1 of FY 2018. Healthy growth is expected from H2.

We expect Bal to register consolidated EPS of Rs 148.8 in FY 2018. The EPS is expected to go up to Rs 174.5 in FY 2019. The scrip was trading around 3293 on 28 November 2017.

Bajaj Auto: Consolidated Financials  
1603 (12) 1703 (12) 1803 (12P) 1903 (12P)
Sales 22586.54 21766.68 23182.2 26056.79
OPM(%) 21.2 20.3 19.4 20.5
OP 4781.1 4419.4 4492.523 5352.06
Other Income 984.58 1222.23 1415.922 1585.83
PBIDT 5765.7 5641.6 5908.445 6937.9
Interest 1.05 1.4 1.2665 1.2
PBDT 5764.63 5640.22 5907.178 6936.69
Dep. 307.16 307.29 306.6287 318.89
PBT  5457.47 5332.93 5600.549 6617.8
Tax provision 1617.65 1508.07 1563.51 1852.98
PAT 3839.82 3824.86 4037.04 4764.82
Share of # 221.44 254.62 270 285
Net Profit 4061.26 4079.48 4307.04 5049.82
EPS* 140.3 141 148.8 174.5
* Annualized On Current Equity Of Rs 289.37 crore. Face Value: Rs 10. EO: Extraordinary Items.EPS Is Calculated After Excluding EO and Relevant Tax. Figures in Rs Crore. (P): Projections. # p/l of assoc.
Source: Capitaline Databases
01-Dec-2017  Other announcement of Bajaj Auto Limited
Other announcement of Bajaj Auto Limited

Please find attached herewith a copy of the Press release being issued by the company in respect of sales for the month of November 2017.
01-Dec-2017  Bajaj Auto Limited - Press Release
Bajaj Auto Limited - Press Release

Bajaj Auto Limited has informed the Exchange regarding a press release dated December 01, 2017, titled 'November 2017 sales'.
06-Nov-2017  Ringside View: Bajaj Auto
Ringside View: Bajaj Auto

Exports to bounce back

Plans to improve and maintain the operating profit margins at 20.5- 21% in the current fiscal

Bajaj Auto (BAL) held a conference call on 18 October 2017 to discuss the September 2017 quarter results. It was addressed by President-Finance Kevin D’Sa. Key points:

The motorcycle segment of the automobile industry grew by 7.5% in H1 of the fiscal ending March 2018 (FY 2018) over a year ago. The expansion is expected to be higher at 8.5% in H2.There is confidence of outperforming the industry growth on back of increase in demand for Avenger, Pulsar NS, and KTM models.

The festive-season demand was strong. Retail volumes increased 46% in the first part of the festive season starting with Navratri compared with a year ago. Sales rose 25% till mid October 2017 over a year-ago period. Growth was mainly due to increase in demand for CT ES and Platina models in the 100-150-cc segment. The target is to push up exports 21% to 1.7 million units in FY 2018 over the previous year.

A new variant of Avenger will be launched by end of the current fiscal and another brand will be introduced in the mid-commuter segment. The Dominar model is selling 2,000 to 2,500 units per month in the domestic market. The intention is ramp up domestic sales of the model to 6,000 units per month and exports to 7,000 to 7,500 units per month.

The Nigeria market witnessed strong revival after dropping to 7,000 units in FY 2017. There are plans to export 25,000 vehicles to the country. Australia and Thailand are being explored. These new markets are expected to contribute 14% to 15% to total exports.

Demand for three-wheelers increased as more auto permits were issued by the Maharashtra and Karnataka governments. The target is to sell 30,000 three-wheelers by end of FY 2018.

There was 170-basis-point drop in the operating margins (OPM) to 19.7%, leading to a marginal rise in operating profit to Rs 1298.4 crore. Higher raw material (aluminum and steel) and employee costs contributed to the decline the OPM. The plans is to maintain the margins at 20.5 to 21% as increase in input costs will be passed on to the buyers.

02-Nov-2017  Bajaj Auto records 7% growth in sales in October 2017
Bajaj Auto records 7% growth in sales in October 2017

Bajaj Auto achieved total sales of 382,464 units in October 2017 compared to 356,168 units in October 2016, recording a growth of 7%. Total sales included domestic sales of 247,210 units and exports of 135,254 units, recording growth of 4% and 15% respectively over October 2016.
02-Nov-2017  Bajaj Auto nudges higher on decent rise in October sales
Bajaj Auto nudges higher on decent rise in October sales

The announcement was made before market hours today, 2 November 2017.

Meanwhile, the S&P BSE Sensex was up 43.56 points, or 0.13% to 33,643.83.

On the BSE, 3,997 shares were traded in the counter so far, compared with average daily volumes of 21,506 shares in the past one quarter. The stock had hit a high of Rs 3,277 and a low of Rs 3,242.45 so far during the day. The stock had hit a record high of Rs 3,337.40 on 27 October 2017. The stock had hit a 52-week low of Rs 2,510 on 15 November 2016.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto's domestic sales rose 4% to 2.47 lakh units in October 2017 over October 2016. Exports rose 15% to 1.35 lakh units in October 2017 over October 2016.

Bajaj Auto's consolidated net profit fell 0.6% to Rs 1193.58 crore on 8.8% rise in net sales to Rs 6474.78 crore in Q2 September 2017 over Q2 September 2016.

Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the world's third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.

02-Nov-2017  Other announcement of Bajaj Auto Limited
Other announcement of Bajaj Auto Limited

Please find attached herewith a copy of Press release being issued by the company in respect of sales for the month of October 2017.
02-Nov-2017  Bajaj Auto Limited - Press Release
Bajaj Auto Limited - Press Release

Bajaj Auto Limited has informed the Exchange regarding a press release dated November 02, 2017, titled 'Press Release 'being issued by the company in respect of sales for the month of October 2017..
02-Nov-2017  Bajaj Auto Limited - Updates
Bajaj Auto Limited - Updates

Bajaj Auto Limited has informed the Exchange regarding 'SUBMISSION OF HALF YEARLY COMMUNICATION TO THE SHAREHOLDERS FOR H1/FY 2017-18.'.
17-Oct-2017  Bajaj Auto accelerates after announcing Q2 results
Bajaj Auto accelerates after announcing Q2 results

The result was announced during market hours today, 17 October 2017.

Meanwhile, the S&P BSE Sensex was down 50.02 points, or 0.15% to 32,583.62.

On the BSE, 37,786 shares were traded in the counter so far, compared with average daily volumes of 21,506 shares in the past one quarter. The stock had hit a high of Rs 3,310.20 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 3,221 so far during the day. The stock had hit a 52-week low of Rs 2,510 on 15 November 2016.

The stock has gained 4.76% in six sessions to its ruling price, from a close of Rs 3,128.15 on 9 October 2017.

The stock had outperformed the market over the past one month till 16 October 2017, gaining 6.61% compared with the Sensex's 1.12% gains. The stock had also outperformed the market over the past one quarter, gaining 14.6% as against the Sensex's 1.91% rise. The scrip had, however, underperformed the market over the past one year, gaining 14.87% as against the Sensex's 17.92% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto's consolidated net profit fell 0.6% to Rs 1193.58 crore on 1.3% rise in total income to Rs 6863.51 crore in Q2 September 2017 over Q2 September 2016.

As on 30 June 2017, surplus cash and cash equivalents stood at Rs 13256 crore.

Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the world's third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.

Incorporation Year 2007 
Registered Office Bajaj Auto Limited Complex,Mumbai - Pune Road Akurdi,
Pune,
Maharashtra-411035
Telephone 91-20-27472851(Extn 6063) / 27406063 
Fax 91-20-27407380 
Chairman Rahul Bajaj
Managing Director Rajiv Bajaj
Company Secretary J Sridhar 
Auditor Dalal & Shah LLP/S R B C & Co LLP 
Face Value(Rs) 10 
Market Lot
Listing MSEI,BSE,NSE 
Registrar Karvy Computershare Pvt Ltd
Karvy Selenium Tow-B,Pl-31&32 Gachibowli,Nanakramguda,Hyderabad-500032 
Toll Free number: 1800-425-5501 / 1800-103-5501
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