Duyuru • Jul 01
Bajaj Auto Limited to Report Q1, 2027 Results on Jul 21, 2026 Bajaj Auto Limited announced that they will report Q1, 2027 results on Jul 21, 2026 Reported Earnings • Jun 27
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹385 (up from ₹262 in FY 2025). Revenue: ₹636.3b (up 23% from FY 2025). Net income: ₹107.4b (up 47% from FY 2025). Profit margin: 17% (up from 14% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 30
Bajaj Auto Limited Announces Management Changes, Effective June 1, 2026 Bajaj Auto Limited informed that consequent to the change in reporting on account of organisational restructuring, Ms. Baminee Viswanat (General Counsel, redesignated as Chief Legal Officer) and Mr. Vijay Jerome (Chief Digital & Information Officer) will cease to form part of senior management, as defined under Regulation 16(1)(d) of the Listing Regulations, with effect from June 1, 2026. Upcoming Dividend • May 22
Upcoming dividend of ₹150 per share Eligible shareholders must have bought the stock before 29 May 2026. Payment date: 20 August 2026. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (1.2%). Duyuru • Apr 13
Bajaj Auto Limited to Report Q4, 2026 Results on May 06, 2026 Bajaj Auto Limited announced that they will report Q4, 2026 results on May 06, 2026 Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: ₹98.50 (vs ₹78.70 in 3Q 2025) Third quarter 2026 results: EPS: ₹98.50 (up from ₹78.70 in 3Q 2025). Revenue: ₹166.4b (up 23% from 3Q 2025). Net income: ₹27.5b (up 25% from 3Q 2025). Profit margin: 17% (in line with 3Q 2025). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 08
Bajaj Auto Limited to Report Q3, 2026 Results on Jan 30, 2026 Bajaj Auto Limited announced that they will report Q3, 2026 results on Jan 30, 2026 Duyuru • Oct 13
Bajaj Auto Limited to Report Q2, 2026 Results on Nov 07, 2025 Bajaj Auto Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Jul 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹262 (down from ₹273 in FY 2024). Revenue: ₹518.6b (up 12% from FY 2024). Net income: ₹73.2b (down 5.0% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 30
Bajaj Auto Limited to Report Q1, 2026 Results on Aug 06, 2025 Bajaj Auto Limited announced that they will report Q1, 2026 results on Aug 06, 2025 Upcoming Dividend • Jun 15
Upcoming dividend of ₹210 per share Eligible shareholders must have bought the stock before 20 June 2025. Payment date: 05 September 2025. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (1.3%). Reported Earnings • May 30
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹262 (down from ₹273 in FY 2024). Revenue: ₹524.7b (up 14% from FY 2024). Net income: ₹73.2b (down 5.0% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 22
Bajaj Auto Set to Gain Majority Control in KTM with €800 Million Rescue Package Bajaj Auto Limited (NSEI:BAJAJ-AUTO) announced plans to acquire majority control of Austrian premium motorcycle manufacturer KTM AG. The strategic shift comes through its wholly owned subsidiary, Bajaj Auto International Holdings BV (BAIHBV), as part of a comprehensive €800 million funding plan to stabilise KTM's finances and support its ongoing restructuring. The deal marks a significant transformation in Bajaj Auto's global two-wheeler strategy, as it transitions from a minority shareholder to majority stakeholder in KTM. The Pune-based company has long partnered with KTM, but this move will give it deeper operational and financial control, bolstering its position in the high-performance and sports motorcycle segment globally. According to Bajaj Auto's stock exchange filing dated May 22, 2025, the Board approved the proposal on May 21. The funding initiative is designed to provide immediate liquidity to KTM and meet a court-imposed deadline in Austria related to the company's debt restructuring plan. As part of the rescue package, BAIHBV has executed a facility agreement to extend a secured loan of €450 million (approx. INR 43,650 million) to KTM AG. This will be held in escrow until approved by the competent court in Austria. Additionally, Bajaj's subsidiary has subscribed to €150 million (INR 1,4550 million) worth of convertible bonds issued by Pierer Bajaj AG (PBAG), a KTM group entity. These new commitments are in addition to the €200 million (INR 19,450 million) already infused by Bajaj as shareholder debt, bringing the total financial backing to €800 million (roughly INR 77,650 million). The funding is aimed at meeting a critical May 23, 2025 deadline set by Austrian courts. Under a court-approved restructuring plan, KTM must settle 30% of creditor claims by that date. Failure to do so could result in insolvency proceedings and removal from self-administration. Bajaj Auto's financial backing is essential to avert this scenario, ensuring KTM's operational continuity and shielding its global reputation as a premium motorcycle brand. In addition to aiding KTM directly, Bajaj Auto is seeking regulatory approval in Austria to acquire a controlling interest in PBAG-the parent firm of Pierer Mobility AG, which in turn owns KTM AG. As of now, Bajaj Auto indirectly holds a 37.5% stake in KTM through its interest in PBAG and Pierer Mobility. In compliance with SEBI's related-party transaction regulations, Bajaj Auto's board has approved seeking post-facto shareholder approval through a postal ballot. These transactions are considered material, and shareholder consent is a necessary part of the regulatory process. Duyuru • May 09
Bajaj Auto Limited to Report Fiscal Year 2025 Results on May 29, 2025 Bajaj Auto Limited announced that they will report fiscal year 2025 results on May 29, 2025 Duyuru • Feb 19
Bajaj Auto Limited Appoints Baminee Viswanat as General Counsel Bajaj Auto Limited announced that Ms. Baminee Viswanat has been appointed as General Counsel and part of Senior Management of the Company, effective from 19 February 2025. Ms. Baminee Viswanat is a successful and accomplished General Counsel with over 32 years of diversified experience leading legal strategies in complex regulatory landscapes and directing policies on a broad range of issues globally. She started her career as a litigation practitioner in the High Court of Madras and then after held various roles in organizations like Malladi Group of Companies, Thomson Consumer Electronics (Subsidiary of Thomson SA France Now Technicolor), Star TV Group Subsidiary Vijay Television, Lenovo and TVS Supply Chain Solutions Limited. Ms. Baminee is a professional associate of ICSI and holds a Bachelor's degree in Law & Master's degree in Political Science from University of Madras. She has demonstrated abilities in all legal aspects of wholesale and retail distribution systems and business operations within the IT and consumer electronics industries. Her key focus areas include Board governance, high stake contract negotiations, secretarial /LODR compliances, business risk assessment and mitigation, employment law, complex litigation, regulatory and business compliance requirements and manufacturing support. She possess strong leadership skills in mentoring in-house legal teams and has established excellent relationships with external counsel. Ms. Baminee Viswanat has also been recognized as one of the Top General Counsels by the Society of Law Firms in 2021 and by BW Legal World in 2023. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: ₹78.70 (vs ₹71.90 in 3Q 2024) Third quarter 2025 results: EPS: ₹78.70 (up from ₹71.90 in 3Q 2024). Revenue: ₹135.2b (up 7.9% from 3Q 2024). Net income: ₹22.0b (up 8.0% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Dec 31
Bajaj Auto Limited to Report Q3, 2025 Results on Jan 28, 2025 Bajaj Auto Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Price Target Changed • Nov 21
Price target increased by 7.0% to ₹11,085 Up from ₹10,358, the current price target is an average from 41 analysts. New target price is 17% above last closing price of ₹9,507. Stock is up 61% over the past year. The company is forecast to post earnings per share of ₹314 for next year compared to ₹273 last year. Reported Earnings • Oct 17
Second quarter 2025 earnings released: EPS: ₹49.70 (vs ₹71.40 in 2Q 2024) Second quarter 2025 results: EPS: ₹49.70 (down from ₹71.40 in 2Q 2024). Revenue: ₹136.5b (up 22% from 2Q 2024). Net income: ₹13.9b (down 31% from 2Q 2024). Profit margin: 10% (down from 18% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Sep 26
Bajaj Auto Limited to Report Q2, 2025 Results on Oct 16, 2024 Bajaj Auto Limited announced that they will report Q2, 2025 results on Oct 16, 2024 Duyuru • Sep 17
Bajaj Auto Limited Announces Resignation of Amitabh Lal Das as General Counsel, Legal Bajaj Auto Limited announced that Shri Amitabh Lal Das, General Counsel, Legal, a Senior Management Personnel of the Company as per Regulation 16(1)(d) of the Listing Regulations, has tendered his resignation from the services of the Company to be effective from the close of business hours on September 17, 2024 due to personal reasons. Duyuru • Jul 17
Bajaj Auto Limited Approves the Declaration of Dividend for the Year Ended 31 March 2024 Bajaj Auto Limited approved the Declaration of dividend of INR 80 per equity share of face value of INR 10 each, for the year ended 31 March 2024. Duyuru • Jun 27
Bajaj Auto Limited to Report Q1, 2025 Results on Jul 16, 2024 Bajaj Auto Limited announced that they will report Q1, 2025 results on Jul 16, 2024 Reported Earnings • Jun 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹273 (up from ₹212 in FY 2023). Revenue: ₹461.6b (up 24% from FY 2023). Net income: ₹77.1b (up 27% from FY 2023). Profit margin: 17% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 07
Upcoming dividend of ₹80.00 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.8%). Price Target Changed • Apr 20
Price target increased by 12% to ₹8,505 Up from ₹7,595, the current price target is an average from 42 analysts. New target price is approximately in line with last closing price of ₹8,795. Stock is up 104% over the past year. The company is forecast to post earnings per share of ₹313 for next year compared to ₹273 last year. Duyuru • Apr 20
Bajaj Auto Limited, Annual General Meeting, Jul 16, 2024 Bajaj Auto Limited, Annual General Meeting, Jul 16, 2024. Location: registered office of the Company Pune India Agenda: To consider dividend. New Risk • Apr 19
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (₹234m sold). Reported Earnings • Apr 19
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹273 (up from ₹212 in FY 2023). Revenue: ₹463.1b (up 24% from FY 2023). Net income: ₹77.1b (up 27% from FY 2023). Profit margin: 17% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Mar 30
Bajaj Auto Limited to Report Q4, 2024 Results on Apr 18, 2024 Bajaj Auto Limited announced that they will report Q4, 2024 results on Apr 18, 2024 Recent Insider Transactions • Mar 14
Chief Technology Officer recently sold ₹59m worth of stock On the 7th of March, Abraham Joseph sold around 7k shares on-market at roughly ₹8,619 per share. This transaction amounted to 98% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹68m. Insiders have been net sellers, collectively disposing of ₹684m more than they bought in the last 12 months. Duyuru • Mar 07
Bajaj Auto Limited Appoints Vinita Bali as a Non-Executive Independent Director, Effective April 1, 2024 Bajaj Auto Limited announced that the Members of the Company have approved the appointment of Ms. Vinita Bali as a Non-executive Independent Director of the Company for a term of five consecutive years with effect from April 1, 2024 up to March 31, 2029. Ms. Vinita Bali is a business leader with extensive experience in successfully leading large Companies both in India and overseas. Ms. Bali has a degree in Economics from the University of Delhi and a Masters in Management from the Jamnalal Bajaj Institute of Management Studies, University of Bombay. She also pursued post graduate studies in International Business from Michigan State University. She started her career as a Management Trainee with Voltas Ltd. (A Tata Group Company), in the year 1977 after completing her MBA. In the year 1980, she joined Cadbury India as Brand Manager and rose rapidly to become the youngest General Manager of the Company. She headed the Sales & Marketing function in South Africa in the year 1993-94, during the period of the most profound transition in the history of the country. In the year 1994 she joined The Coca-Cola Company as its Worldwide Marketing Director for Coca- Cola and played an instrumental role in doubling the brand's historical growth rate during the next 3 years. In the year 1997, she became Vice-President of Marketing for Latin America and in the year 1999 relocated to Chile as President of the Andean Division. In the year 2001, she was made a Corporate Officer of The Coca-Cola Company and appointed Vice-President and Head of Global Business Strategy. She also represented The Coca-Cola Company on the Boards of The American Foundation for the Blind, New York, as well as the Center for Strategic and International Studies in Washington DC. In July 2003, she joined The Zyman Group, as Managing Principal and Head of the Business Strategy practice in the USA. As a member of the Company's Board of Managers, Ms. Bali shared responsibility for developing and managing Zyman Group's consulting business. In the year 2005, following 16 years of overseas assignments, Ms. Bali returned to India as MD & CEO of Britannia Industries Ltd. where she significantly diversified the geographic and product portfolio, steered the Company towards the Health and Nutrition course, developed a successful Dairy business and more than quadrupled revenue. In the year 2009, she created Britannia Nutrition Foundation and has since then pioneered the cause of addressing malnutrition in India. Presently, she is serving on the Global Boards of Cognizant Technology Solutions, SATS Ltd. and Board of Trustees of the Shell Foundation, U.K. In India, she currently serves as a Non-executive Director on the Boards of CRISIL Ltd. and Syngene International Ltd. and Chairs the CII National Committee on Nutrition. She has been recognized in various forums nationally and internationally and won several Awards for her various contributions to business and society. Recent Insider Transactions • Feb 25
Insider recently sold ₹68m worth of stock On the 21st of February, K. Grihapathy sold around 8k shares on-market at roughly ₹8,304 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹589m more than they bought in the last 12 months. Price Target Changed • Jan 25
Price target increased by 8.6% to ₹6,844 Up from ₹6,299, the current price target is an average from 41 analysts. New target price is 9.9% below last closing price of ₹7,597. Stock is up 104% over the past year. The company is forecast to post earnings per share of ₹263 for next year compared to ₹212 last year. Reported Earnings • Jan 25
Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations Third quarter 2024 results: EPS: ₹71.90 (up from ₹52.10 in 3Q 2023). Revenue: ₹125.2b (up 31% from 3Q 2023). Net income: ₹20.3b (up 38% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 24
Bajaj Auto Limited Announces Board Changes Bajaj Auto Limited announced that Resignation of Shri Madhur Bajaj, Non-Executive Vice-Chairman from the Board of Directors of the Company w.e.f. close of the business hours i.e., 24 January 2024. Mrs. Lila Poonawalla expressing her desire not to seek second term as an Independent Director of the Company upon expiry of her first term on 31 March 2024. Price Target Changed • Jan 12
Price target increased by 7.6% to ₹6,202 Up from ₹5,766, the current price target is an average from 41 analysts. New target price is 15% below last closing price of ₹7,300. Stock is up 103% over the past year. The company is forecast to post earnings per share of ₹253 for next year compared to ₹212 last year. Duyuru • Jan 09
Bajaj Auto Limited (NSEI:BAJAJ-AUTO) announces an Equity Buyback for 4,000,000 shares, representing 1.41% for INR 40,000 million. Bajaj Auto Limited (NSEI:BAJAJ-AUTO) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 1.41% of its share capital, for INR 25000 million. The offer price will be INR 10,000 per share. The Buyback is subject to approval of the shareholders by means of a special resolution through a postal ballot. As of January 5, 2024, the company had 283,179,756 shares in outstanding. Duyuru • Dec 29
Bajaj Auto Limited to Report Q3, 2024 Results on Jan 24, 2024 Bajaj Auto Limited announced that they will report Q3, 2024 results on Jan 24, 2024 Recent Insider Transactions • Dec 11
Insider recently sold ₹35m worth of stock On the 5th of December, Samardeep Subandh sold around 6k shares on-market at roughly ₹6,132 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹434m more than they bought in the last 12 months. Recent Insider Transactions • Nov 09
Insider recently sold ₹11m worth of stock On the 6th of November, K. Grihapathy sold around 2k shares on-market at roughly ₹5,400 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹26m. Insiders have been net sellers, collectively disposing of ₹377m more than they bought in the last 12 months. Reported Earnings • Oct 20
Second quarter 2024 earnings released: EPS: ₹71.40 (vs ₹60.10 in 2Q 2023) Second quarter 2024 results: EPS: ₹71.40 (up from ₹60.10 in 2Q 2023). Revenue: ₹112.1b (up 6.4% from 2Q 2023). Net income: ₹20.2b (up 18% from 2Q 2023). Profit margin: 18% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 29
Executive Director recently sold ₹20m worth of stock On the 25th of September, Rakesh Sharma sold around 4k shares on-market at roughly ₹5,012 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹26m. Insiders have been net sellers, collectively disposing of ₹358m more than they bought in the last 12 months. Duyuru • Sep 26
Bajaj Auto Limited to Report Q2, 2024 Results on Oct 18, 2023 Bajaj Auto Limited announced that they will report Q2, 2024 results on Oct 18, 2023 Recent Insider Transactions • Sep 20
Executive Director recently sold ₹26m worth of stock On the 13th of September, Pradeep Shrivastava sold around 5k shares on-market at roughly ₹4,809 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹319m more than they bought in the last 12 months. Duyuru • Aug 03
Deepika Warrier Joins Bajaj Auto as Head of Marketing Deepika Warrier, former senior executive at Diageo, has joined Bajaj Auto as head of marketing. Prior to this, she has served as chief marketing officer for Diageo India. She left Diageo in June this year. Before Diageo, she has worked as the CEO and MD of NourishCo Beverages Limited (a Pepsico-Tata Global Beverages JV). Additionally, Warrier has spent 20 years in several executive positions with the consumer goods company Pepsico and serves on the advisory board of Social Alpha, a platform for science and technology start-ups. She also works as an advisory board member for Social Alpha, a development platform for science and tech innovation start-ups. Reported Earnings • Jul 06
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₹212 (down from ₹213 in FY 2022). Revenue: ₹373.3b (up 8.9% from FY 2022). Net income: ₹60.6b (down 1.7% from FY 2022). Profit margin: 16% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 04
Bajaj Auto Limited Recommends Dividend for the Year Ended 31 March 2023, Payable on 28 July 2023 Bajaj Auto Limited recommended dividend INR 140 per equity share of the face value of H 10 each for the year ended 31 March 2023 for the approval of shareholders at the ensuing annual general meeting. Pursuant to the provisions of section 91 of the Act and regulation 42 of the Listing Regulations, the Company has fixed 30 June 2023 as the `Record Date' for the purpose of determining the members eligible to receive dividend for the financial year 2022-23. Subject to the provisions of section 126 of the Act, dividend on equity shares, if declared at the AGM, will be credited/dispatched on 28 July 2023. Duyuru • Jul 01
Bajaj Auto Limited to Report Q1, 2024 Results on Jul 25, 2023 Bajaj Auto Limited announced that they will report Q1, 2024 results on Jul 25, 2023 Upcoming Dividend • Jun 23
Upcoming dividend of ₹140 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 24 August 2023. Payout ratio is a comfortable 66% and the cash payout ratio is 97%. Trailing yield: 3.0%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (1.3%). Recent Insider Transactions • May 10
Head of Marketing recently sold ₹35m worth of stock On the 5th of May, Narayan Sundaraman sold around 8k shares on-market at roughly ₹4,459 per share. This transaction amounted to 85% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹55m more than they bought in the last 12 months. Price Target Changed • Apr 28
Price target increased by 7.4% to ₹4,539 Up from ₹4,226, the current price target is an average from 38 analysts. New target price is approximately in line with last closing price of ₹4,429. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹247 for next year compared to ₹213 last year. Reported Earnings • Apr 26
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₹213 (down from ₹213 in FY 2022). Revenue: ₹376.4b (up 9.8% from FY 2022). Net income: ₹60.6b (down 1.7% from FY 2022). Profit margin: 16% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Feb 26
Insider recently sold ₹1.2m worth of stock On the 22nd of February, Naveen Nijhawan sold around 300 shares on-market at roughly ₹3,846 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹8.0m. Insiders have been net sellers, collectively disposing of ₹19m more than they bought in the last 12 months. Recent Insider Transactions • Feb 21
Insider recently sold ₹405k worth of stock On the 13th of February, Kailash Zanzari sold around 104 shares on-market at roughly ₹3,896 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹8.0m. Insiders have been net sellers, collectively disposing of ₹18m more than they bought in the last 12 months. Recent Insider Transactions • Feb 09
Insider recently sold ₹8.0m worth of stock On the 6th of February, Dharmesh Banerjee sold around 2k shares on-market at roughly ₹3,845 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹18m more than they bought in the last 12 months. Reported Earnings • Jan 26
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹52.10 (up from ₹49.40 in 3Q 2022). Revenue: ₹95.9b (up 3.2% from 3Q 2022). Net income: ₹14.7b (up 3.0% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 4.4%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Duyuru • Dec 27
Bajaj Auto Limited to Report Q3, 2023 Results on Jan 25, 2023 Bajaj Auto Limited announced that they will report Q3, 2023 results on Jan 25, 2023 Recent Insider Transactions • Dec 11
Insider recently sold ₹1.1m worth of stock On the 6th of December, C. Anawalikar sold around 300 shares on-market at roughly ₹3,668 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹9.9m more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Abhinav Bindra was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 16
Second quarter 2023 earnings released: EPS: ₹60.10 (vs ₹70.50 in 2Q 2022) Second quarter 2023 results: EPS: ₹60.10 (down from ₹70.50 in 2Q 2022). Revenue: ₹105.4b (up 16% from 2Q 2022). Net income: ₹17.2b (down 16% from 2Q 2022). Profit margin: 16% (down from 23% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Duyuru • Sep 22
Bajaj Auto Limited to Report Q2, 2023 Results on Oct 14, 2022 Bajaj Auto Limited announced that they will report Q2, 2023 results at 4:00 PM, Indian Standard Time on Oct 14, 2022 Recent Insider Transactions • Aug 20
Insider recently sold ₹2.0m worth of stock On the 16th of August, Nasir Ahmed sold around 500 shares on-market at roughly ₹4,091 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.1m. Insiders have been net sellers, collectively disposing of ₹25m more than they bought in the last 12 months. Duyuru • Jul 28
Bajaj Auto Limited Approves Declaration of Dividend for the Year Ended 31 March 2022 Bajaj Auto Limited at its AGM held on 26 July 2022 approved Declaration of dividend of INR 140 per equity share of face value of INR 10 each, for the year ended 31 March 2022. Reported Earnings • Jul 06
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Net income: ₹61.7b (up 27% from FY 2021). Revenue missed analyst estimates by 2.9%. Duyuru • Jul 05
Bajaj Auto Limited Recommends Dividend for the Financial Year Ended March 31, 2022 Bajaj Auto Ltd. at its AGM to be held on 26 July 2022 the Board of Directors has recommended dividend of INR 140 per equity share of the face value of H 10 each for the year ended 31 March 2022. Pursuant to the provisions of section 91 of the Act and regulation 42 of the Listing Regulations, the Company has fixed 1 July 2022 as the Record Date for the purpose of determining the members eligible to receive dividend for the financial year 2021-22. Duyuru • Jun 30
Bajaj Auto Limited to Report Q1, 2023 Results on Jul 26, 2022 Bajaj Auto Limited announced that they will report Q1, 2023 results at 4:00 AM, Indian Standard Time on Jul 26, 2022 Duyuru • Jun 28
Bajaj Auto Limited (NSEI:BAJAJ-AUTO) announces an Equity Buyback for 5,434,782 shares, representing 9.61% for INR 25,000 million. Bajaj Auto Limited (NSEI:BAJAJ-AUTO) announces a share repurchase program. Under the program, the company will repurchase up to 5,434,782 shares, representing 9.61% of its share capital, for INR 25000 million. The offer price will be INR 4600 per share. Upcoming Dividend • Jun 23
Upcoming dividend of ₹140 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 30 July 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Within top quartile of Indian dividend payers (1.9%). Higher than average of industry peers (1.6%). Duyuru • Jun 15
Bajaj Auto Limited Announces Resignation of Shekhar Baja as Non-Executive Director, Effective June 30, 2022 Bajaj Auto Limited informed that Shri Shekhar Baja has tendered his resignation as Non-executive Director of the Company with effect from close of business hours on 30 June 2022. Reason for change is due to health reasons. Close of business hours on 30 June 2022. Recent Insider Transactions • May 28
Insider recently sold ₹4.1m worth of stock On the 25th of May, K. Grihapathy sold around 1k shares on-market at roughly ₹3,800 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹33m more than they bought in the last 12 months. Reported Earnings • Apr 29
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: ₹213 (up from ₹168 in FY 2021). Revenue: ₹343.5b (up 19% from FY 2021). Net income: ₹61.7b (up 27% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) exceeded analyst estimates by 24%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Duyuru • Apr 02
Bajaj Auto Limited to Report Fiscal Year 2022 Results on Apr 27, 2022 Bajaj Auto Limited announced that they will report fiscal year 2022 results on Apr 27, 2022 Reported Earnings • Jan 21
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ₹49.40 (down from ₹59.30 in 3Q 2021). Revenue: ₹92.9b (flat on 3Q 2021). Net income: ₹14.3b (down 17% from 3Q 2021). Profit margin: 15% (down from 19% in 3Q 2021). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 7.2%, compared to a 6.5% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Duyuru • Jan 06
Bajaj Auto Continues to Lead Global Two-Wheeler Market Innovation with Fully Connected E-Scooter Powered by Sibros Ota Connectivity Sibros announced that Bajaj Auto has deployed its Deep Connected Platform™ now running on the company’s Chetak electric scooter fleet. Sibros’ embedded and cloud products provide Chetak electric scooters with safe OTA software and firmware updates, as well as rich vehicle-to-cloud data insights for all embedded sensors, EV battery analytics and diagnostics. Sibros’ API-driven integration has connected its platform to the back-end enterprise and dealer management systems to automate software and data management workflows including its future scalability. The connected Chetak e-Scooter enhances the customer’s digital experience by integrating vehicle data and user commands from a central cloud command center for OEM visibility in order to provide customer services, as well as within the myChetak mobile app. The all new app provided from the Sibros platform offers an array of powerful user features such as geo-fencing controls, theft and accident alerts, a digital key, trip data, service reminders and OTA diagnostic troubleshooting. Reported Earnings • Oct 28
Second quarter 2022 earnings released: EPS ₹70.50 (vs ₹41.30 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹90.8b (up 22% from 2Q 2021). Net income: ₹8.82b (down 26% from 2Q 2021). Profit margin: 9.7% (down from 16% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 26
Insider recently sold ₹419k worth of stock On the 23rd of September, Vikas Sawhney sold around 110 shares on-market at roughly ₹3,807 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹15m. Despite this recent sale, insiders have collectively bought ₹5.4m more than they sold in the last 12 months. Recent Insider Transactions • Sep 11
Board Member recently sold ₹15m worth of stock On the 6th of September, Rakesh Sharma sold around 4k shares on-market at roughly ₹3,801 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹5.8m more than they sold in the last 12 months. Executive Departure • Jul 16
Independent Non-Executive Director Omkar Goswami has left the company On the 9th of July, Omkar Goswami's tenure as Independent Non-Executive Director ended after 4.1 years in the role. We don't have any record of a personal shareholding under Omkar's name. Omkar is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 10.00 years. Reported Earnings • Jul 03
Full year 2021 earnings released: EPS ₹168 (vs ₹180 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹289.6b (down 7.6% from FY 2020). Net income: ₹48.6b (down 6.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 02
Upcoming dividend of ₹140 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 27 July 2021. Trailing yield: 3.4%. Within top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (1.5%). Recent Insider Transactions • Jun 26
Insider recently sold ₹310k worth of stock On the 21st of June, Pinky Zanzari sold around 80.0 shares on-market at roughly ₹3,874 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.3m. Despite this recent sale, insiders have collectively bought ₹82m more than they sold in the last 12 months. Recent Insider Transactions • Jun 16
Insider recently sold ₹1.5m worth of stock On the 10th of June, Sanjeev Garg sold around 357 shares on-market at roughly ₹4,181 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.3m. Despite this recent sale, insiders have collectively bought ₹191m more than they sold in the last 12 months. Recent Insider Transactions • May 28
Insider recently sold ₹8.3m worth of stock On the 21st of May, K. Grihapathy sold around 2k shares on-market at roughly ₹4,100 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹265m more than they sold in the last 12 months. Reported Earnings • May 02
Full year 2021 earnings released: EPS ₹168 (vs ₹180 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹290.2b (down 7.4% from FY 2020). Net income: ₹48.6b (down 6.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Mar 19
Bajaj Auto Limited Approves the Amendment of Dividend Distribution Policy Bajaj Auto Limited, at its board meeting held on March 17, 2021, approved the amendment of dividend distribution policy. Pursuant to Regulation 43A, Dividend Distribution Policy has been amended. Prior to the amendment, the Policy referred to "Dividend pay-out of around 50% of profits after tax on standalone financials, to the extent possible". In terms of the amendment, 'subject to the caveats given in the Policy, the Board shall endeavour to arrive at a dividend pay-out as a percentage of profits after tax on the company's standalone financials, taking into account the surplus funds available with the company. Recent Insider Transactions • Feb 07
Insider recently sold ₹3.6m worth of stock On the 29th of January, Govind Agrawal sold around 851 shares on-market at roughly ₹4,197 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹352m more than they sold in the last 12 months. 
