Sharekhan's research report on Bajaj Auto
Bajaj Auto’s (BAL’s) reported PAT stood at Rs 1665 crore in Q1FY24 against estimate of Rs. 1670 crore on maintaining EBITDA margin at ~19%. With the Triumph 400 cc, BAL has now ventured into the realm of iconic premium motorcycles, expanding its dominance from the mass premium motorcycles. Stock trades at a P/E multiple of 18.3x and EV/EBITDA multiple of 12.5x its FY25 E estimates.
Outlook
We maintain a Buy on Bajaj Auto (BAL) with an unchanged target price of Rs. 5,600 owing to its superior profitability, play on premiumisation and expectation of gradual export recovery.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
