Bajaj Auto Ltd.

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Company Background

Bajaj Auto is a core unit of the conglomerate Bajaj. It is jockeying for the second or third slot among motorcycle makers in India and dominates the market for three-wheel vehicles. It exports large numbers of motorcycles and three-wheel vehicles to countries in South Asia and Southeast Asia. Three-wheelers in general are called bajai in Indonesia.

The company was founded by late Jamnalal Bajaj. He was closely associated with Mohandas Gandhi and is well known for his support for Gandhi's nonviolent movement to win independence for India. Bajaj is in the financial services and manufacturing businesses. Bajaj Auto started out as a joint venture with Italian vehicles maker Piaggio in 1945 -- that partnership has been dissolved. Since its formation, the company has been a major force in India's vehicles market.

A majority stake in the company is owned by the founding family and its group companies. Its leading shareholder is the holding company of the group, Bajaj Holdings and Investment.

Bajaj Auto's chairman is Rahul Bajaj, a grandson of the founder. Rahul's eldest son, Rajiv, has served as managing director from 2005. Under the leadership of Rajiv, the company is working on new product development, concentrating resources on sporty motorcycles and four-wheel commercial vehicles developed on three-wheeler's technology.

Business Summary

Bajaj Auto Ltd. engages in the manufacture and market of motorcycles and three-wheeler vehicles. It operates through the Automotive and Investments and Others segments. It offers motorcycles, scooters, commercial vehicles and related spare parts. The company was founded by Kamalnayan Bajaj on November 29, 1945 and is headquartered in Pune, India.

Financial Highlights

Mar 2020	INR	USD
Revenue	292,044.50M	4,118.75M
Gross Profit	57,751M	814.47M
Operating income	43,042.50M	607.03M
Income before tax	63,706.20M	898.46M
Net income	52,119.10M	735.04M
EBITDA	45,490.80M	641.56M
Diluted EPS	180.17	2.54
Dividends Per Share	120	1.69
Total Assets	266,861M	3,527.51M
Total liabilities	49,827.10M	658.64M
Total equity	216,620.80M	2,863.41M
Operating cash flow	39,196.60M	552.79M
	Currency in INR	Currency in USD

Historical Data

INR | USD

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Revenue	221,849.90M	213,945.30M	247,138.10M	296,615.80M	292,044.50M
Gross Profit	54,415.80M	51,789M	56,294.70M	56,240.30M	57,751M
Operating income	41,871.10M	38,609.30M	41,381.30M	43,501.10M	43,042.50M
Income before tax	54,574.50M	53,329.30M	59,334.10M	66,058.30M	63,706.20M
Net income	40,612.40M	40,794.90M	42,189.50M	49,276.10M	52,119.10M
EBITDA	44,910.50M	41,656.70M	44,120.80M	46,141.90M	45,490.80M
Diluted EPS	140.30	141	145.80	170.28	180.17
Dividends Per Share	55	55	60	60	120
Total Assets	173,676.90M	218,061.90M	253,438.70M	289,285.70M	266,861M
Total liabilities	33,063.90M	39,003.30M	48,720M	56,508M	49,827.10M
Total equity	140,203.10M	178,565.70M	204,252.40M	232,338.10M	216,620.80M
Operating cash flow	37,735.60M	33,417.60M	43,970.50M	25,076.70M	39,196.60M

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Revenue	3,388.53M	3,190.49M	3,833.61M	4,240.84M	4,118.75M
Gross Profit	831.14M	772.31M	873.24M	804.09M	814.47M
Operating income	639.53M	575.76M	641.90M	621.95M	607.03M
Income before tax	833.56M	795.28M	920.39M	944.46M	898.46M
Net income	620.31M	608.36M	654.44M	704.52M	735.04M
EBITDA	685.96M	621.21M	684.40M	659.71M	641.56M
Diluted EPS	2.14	2.10	2.26	2.43	2.54
Dividends Per Share	0.84	0.82	0.93	0.85	1.69
Total Assets	2,622.62M	3,358.15M	3,885.80M	4,175.90M	3,527.51M
Total liabilities	499.28M	600.65M	746.99M	815.70M	658.64M
Total equity	2,117.15M	2,749.91M	3,131.66M	3,353.85M	2,863.41M
Operating cash flow	576.37M	498.34M	682.07M	358.53M	552.79M

Valuation Measures

Mar 2020
PER	11.23
ROA	18.74%
ROE	23.21%
Operating margin	14.73%
Profit margin	17.84%

Key executives

Managing Director & Executive Director: Rajivnayan R. Bajaj
CFO & President-Finance Division: Soumen Ray
Chief Technology Officer: Abraham Joseph
Secretary & Chief Compliance Officer: J. Sridhar
Chief Business Development Officer: Srinivasan Ravikumar

Shareholders

Bajaj Holdings & Investment Ltd. (33.4%)
BAJAJ NIRAJKUMAR RAMKRISHNAJI (10.9%)
Jaya Hind Industries Ltd. (3.3%)
Maharashtra Scooters Ltd. (2.3%)
BAJAJ SHISHIR KAMALNAYAN (1.5%)
SBI Funds Management Pvt Ltd. (1.3%)
Bachhraj & Co. Pvt Ltd. (1.2%)
The Vanguard Group, Inc. (1.0%)
Norges Bank Investment Management (1.0%)
BAJAJ RAHUL KUMAR (0.9%)

Contact Details

Website:http://www.bajajauto.com
Address: Bajaj Auto Ltd. Complex, Mumbai-Pune Road, Pune, 411035, India
Phone: +91.20.66106063

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Competitors

Last Updated on 13 Aug, 2020