Bajaj Auto (BOM:532977)

QUOTE AND NEWS
The Hindu Business Line  Apr 2  Comment 
Bajaj Auto has reported a 23 per cent increase in total sales at 3,34,348 units in March compared with 2,72,197 units during the same month a year a
The Economic Times  Mar 14  Comment 
Weak Asian cues along with selling in bank, auto, telecom, oil and metal stocks were keeping the benchmark indices down.
The Hindu Business Line  Mar 1  Comment 
Arihant Capital Bajaj Auto (Buy) CMP: ₹3,025 Target: ₹3,220 Bajaj Auto is an India-based manufacturer of mot
The Hindu Business Line  Mar 1  Comment 
Bajaj Auto today reported a 31 per cent jump in total sales at 3,57,883 units in February against 2,73,513 units in the same month last year. Overall domestic sales increased 35 per cent to 2,14,
The Economic Times  Feb 14  Comment 
Buy Bajaj Auto Ltd. at a price target of Rs 3670.0 .
The Economic Times  Feb 7  Comment 
Buy Bajaj Auto Ltd. at a price target of Rs 3450.0 .
The Hindu Business Line  Feb 2  Comment 
Exports ‘doing well’; new launches may prop up bike sales in domestic market
The Hindu Business Line  Feb 2  Comment 
Bajaj Auto Ltd has reported a 3.8 per cent increase in consolidated net profit at Rs 1,013.16 crore for the third quarter ended December 2017. The company had posted a consolidated net profit of R
The Hindu Business Line  Jan 31  Comment 
  Shares of automobile companies such as Maruti Suzuki, Tata Motors, Ashok Leyland, M&M, Eicher, Bajaj Auto, Hero MotoCorp and TVS Motor Company will remain i
The Hindu Business Line  Jan 30  Comment 
Bajaj Auto on Tuesday informed the exchanges that workers union (Vishwa Kalyan Kamgar Sanghatana) has commenced an indefinite hunger strike from January 29 at Akurdi and Chakan. Th





 

History

Bajaj Auto Ltd. came in to existance in year 1945. It started selling vehicle in 1948 after importing them from abroad.

In 1959 Bajaj started its own manufacturing unit in India (Akurdi Plant) . and 1960 it became publicly listed company.

In 1970s it started producing three wheelers (for goods transport also) and became pioneer in three wheeler business.

in the same decade it started production of one of the most successfull scooter model in india Bajaj Chetak.

In 80s it started production of Bikes with Kawasaki bajaj but till year 2000 it was not a major player in Bike segment.

But in year 2001 Bajaj came with Pulsar and became major player in Power biking. And now bajaj planning to go in four wheeler pessenger car segment also with 2500$ car.



Quarterly Result Analysis- Sept '09

Performance summary

- Topline grows by a decent 15% YoY during the quarter. Volume growth comes in at 7% YoY.

- Operating profits jump a strong 85% YoY as the company achieves record operating margins of 22%, a more than 8% expansion as compared to the previous quarter.

- Further aided by benign depreciation charges and lower extraordinary expenses, net profits during the quarter witness a spectacular growth of 118% YoY, enabling the company to post its highest ever quarterly profits.

- Half yearly bottomline grows by 93% YoY on the back of a 8% growth in topline.


(Rs m) 2QFY09 2QFY10 Change 1HFY09 1HFY10 Change
Units sold 640,042 686,727 7.30% 1,260,137 1,234,389 (2.00%)
Net sales 25,192 28,875 14.60% 48,239 52,260 8.30%
Expenditure 21,753 22,510 3.50% 42,132 41,341 (1.90%)
Operating profit (EBDITA) 3,439 6,365 85.10% 6,106 10,919 78.80%
EBDITA margin (%) 13.60% 22.00% 12.70% 20.90%
Other income 221 217 (1.70%) 509 449 (11.80%)
Interest (net) 59 ( ) 68 60 (12.10%)
Depreciation 331 336 1.50% 666 667 0.10%
Profit before tax 3,270 6,247 91.00% 5,881 10,642 80.90%
Extraordinary income/(expense) (611) (458) (25.00%) (611) (699)
Tax 810 1,760 117.30% 1,670 2,980 78.40%
Profit after tax/(loss) 1,849 4,028 117.90% 3,600 6,963 93.40%
Net profit margin (%) 7.30% 14.00% 7.50% 13.30%
No. of shares (m) 144.7 144.7 144.7 144.7
Diluted earnings per share (Rs)* 68.5
Price to earnings ratio (x)* 22.9
                                                  (* annualised)


What has driven performance in 2QFY10?

- The 15% growth in topline during the quarter was driven by both higher volumes as well as improved product mix. Motorcycles, which account for nearly 90% of all the vehicles sold by the company, grew by 5% in the domestic markets, whereas exports of the same improved 10%. The growth in the domestic markets was driven by new launches like the upgraded version of the Pulsar as well as the Discover DTS-Si. The company also managed to grow the domestic sales of its three wheelers by an impressive 27% during the quarter, a feat that could be attributed to its marketing initiatives geared towards the in-city segment. On the exports front, with the revival of its key exports market, it witnessed highest ever quarterly exports and the company is now well poised to exceed its target of 0.8 m vehicles for the year.

- As far as margins are concerned, the company has managed to achieve record operating margins to the tune of 22% during the quarter. This was higher by more than 800 basis points as compared to the same quarter last year and enabled the company to grow its operating profits by 85% on a YoY basis. The drastic improvement in margins could be attributed to greater sales of high value products such as Pulsars, Discovers and three wheelers as well as benefits emerging out of the economies of scale. Going forward, while the same level of margins may not continue, it could indeed come higher than historical levels as the company focuses more on high value products.


- With depreciation charges remaining benign and extraordinary losses coming in lower as compared to same quarter last year, the company has managed to more than double its net profits during the quarter, growing it by 118% YoY.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki