Buy Bajaj Corp; target of Rs 316: Firstcall Research

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26 Aug, 2025 12:21

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Firstcall Research report on Bajaj Corp“Bajaj Corp Ltd is one of India’s leading FMCG Company with major brands in Hair care category. With brands, such as Bajaj Almond Drops, Bajaj Brahmi Amla, Bajaj Amla Sheekakai, and Bajaj Kailash Parbat that have been in the market for eight decades and it is part of one of the oldest business houses of the country. Bajaj Corp Limited is part of Bajaj Group which has business interests in varied industries including sugar, consumer goods, power generation & infrastructure development. The companies brand Bajaj Almond Drop Hair Oil is the third largest brand in the overall hair oil. BCL has over the years created a strong distribution network across 2.71 mn retail outlets serviced by 6964 direct distributors and 15122 wholesalers which can be optimally utilized by introducing new products. The company acquired in September 2011 (Uptown Properties) owns a piece of land and building in Worli, Mumbai. Uptown Properties was previously owned by the C.K. Raheja Group (i.e. Mr. Chandu Raheja). The corporate Headquarters of Bajaj Corp Ltd will be constructed on this land. The Construction is expected to be completed by mid 2015.” “At the current market price of Rs. 287.65, the stock P/E ratio is at 25.95 x FY15E and 23.27 x FY16E respectively. Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.11.08 and Rs.12.36 respectively. Net Sales and Net Profit of the company are expected to grow at a CAGR of 13% and 3% over 2013 to 2016E respectively. On the basis of EV/EBITDA, the stock trades at 14.99 x for FY15E and 13.44 x for FY16E. Price to Book Value of the stock is expected to be at 6.83 x and 6.04 x respectively for FY15E and FY16E. We recommend ‘BUY’ in this particular scrip with a target price of Rs.316.00 for Medium to Long term investment,” says Firstcall Research report. 

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