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LKP Securities has buy call on with a target price of Rs 3900. The current market price of Bajaj Auto Ltd. is Rs 3351.65. Time period given by analyst is one year when Bajaj Auto Ltd. price can reach defined target.
Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 95109.15 Crore) operating in Auto sector.
Bajaj Auto Ltd. key Products/Revenue Segments include Automobile - 2 & 3 Wheelers, Export Incentives, Other Operating Revenue, Royalty Income and Scrap for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 9369.31 Crore, up 3.18 % from last quarter Total Income of Rs 9080.50 Crore and up .97 % from last year same quarter Total Income of Rs 9279.06 Crore. Company reported net profit after tax of Rs 1288.42 Crore in latest quarter.
Investment Rationale
With a strong balance sheet, robust return ratios and zero financial leverage, the brokerage believes the stock looks attractive at 13.6x FY 24E earnings. It maintains BUY rating on the stock with a slightly pruned down target price of Rs3,900 (at 16x rolled over FY 24E earnings). The brokerage has trimmed the estimates a bit on the impact of domestic 2W challenges and higher input costs.
Promoter/FII Holdings
Promoters held 53.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.2 per cent, DIIs 13.22 per cent.
Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 95109.15 Crore) operating in Auto sector.
Bajaj Auto Ltd. key Products/Revenue Segments include Automobile - 2 & 3 Wheelers, Export Incentives, Other Operating Revenue, Royalty Income and Scrap for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 9369.31 Crore, up 3.18 % from last quarter Total Income of Rs 9080.50 Crore and up .97 % from last year same quarter Total Income of Rs 9279.06 Crore. Company reported net profit after tax of Rs 1288.42 Crore in latest quarter.
Investment Rationale
With a strong balance sheet, robust return ratios and zero financial leverage, the brokerage believes the stock looks attractive at 13.6x FY 24E earnings. It maintains BUY rating on the stock with a slightly pruned down target price of Rs3,900 (at 16x rolled over FY 24E earnings). The brokerage has trimmed the estimates a bit on the impact of domestic 2W challenges and higher input costs.
Promoter/FII Holdings
Promoters held 53.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.2 per cent, DIIs 13.22 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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