Bajaj Auto shares reached a 52-week high of Rs 7,499 despite scepticism from Kotak Institutional Equities and Nuvama. Kotak maintained a Sell rating, citing a high valuation, while Nuvama reiterated a Hold stance. JM Financial remained positive, citing a favorable product mix and strong domestic demand. Bajaj Auto reported a 37% YoY growth in net profit for Q3, beating estimates.
The company’s operating margin before depreciation and amortization (EBITDA margin) rose by 29 basis points sequentially to 20.1% in the third quarter of the current fiscal year even though the volume share of the three-wheelers segment, which has superior margin, in the total volume dropped by 230 basis points to 10.2%. In addition, the EBITDA per vehicle at Rs 20,232 was at par with the last quarter’s level though the average selling price fell 1.4% to Rs 100862 per unit.
Bajaj Auto Q3 earnings: Phillip Capital sees profit after tax for Bajaj Auto surging 31 per cent YoY to Rs 1,954 crore on a 29 per cent rise in sales at Rs 12,013 crore. Ebitda margin is seen at 19 per cent.
Bajaj Auto Q3 Results: Bajaj Auto reported a 37% YoY growth in Q3 net profit, beating estimates. Revenue from operations increased by 30% YoY. The company posted its highest-ever quarterly EBITDA and improved margins significantly. The robust revenue growth was led by acceleration in the domestic business, with volume-led revenue growth. Domestic two-wheeler volumes jumped 44% YoY.
Bajaj Auto: The market capitalisation of one of the country’s largest two- and three-wheeler makers surged to INR 2.09 lakh crore on Tuesday, crossing M&M’s market value of INR 2.03 lakh crore. Maruti Suzuki is the most valuable automaker, followed by Tata Motors.