Sharekhan's research report on Bajaj Auto
Reported EBITDA margin at 20.1% in Q4FY24 against estimate of 20.0%. Strong product launch plans in H1FY25 to strengthen its positioning in the domestic market.
Outlook
We retain our Buy rating on the stock with a revised PT of Rs. 10,363 on its superior profitability, play on premiumization, and expectation of a gradual recovery in exports. Stock trades at P/E multiple of 24.4x and EV/EBITDA multiple of 17.9x its FY26E estimates.
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