Bajaj Auto Share Price Target

Based on recent research and technical assessment, Bajaj Auto Ltd. (BAJAJ-AUTO.NS) is trading in a consolidation phase, holding steady near its key moving averages. If two-wheeler demand recovery, export growth, and premium segment momentum continue, the stock could target ₹12,000 in the coming months, signaling potential upside from current levels.

📉 Downside Risk: ₹8,200
📈 Upside Potential: ₹12,000 (approx. +46.0%)

🔎 Note: These targets are indicative and reflect analysts’ observations. Investors should track rural demand trends, export markets, and upcoming product launches, and consult a registered financial advisor before making investment decisions.

Company Overview

Bajaj Auto Ltd. (BAJAJ-AUTO.NS) is a leading two- and three-wheeler manufacturer in India, headquartered in Pune, Maharashtra. Known for motorcycles, scooters, and commercial vehicles, the company combines innovation, performance, and strong brand presence. Bajaj Auto plays a key role in India’s automotive sector and global exports.


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Over the five-year period from 2020 to 2024, Bajaj Auto exhibited notable fluctuations in its annual returns. In 2020, the company delivered a solid return of 13.40%, followed by a slight decline of -3.44% in 2021. The momentum picked up in 2022 with a 14.49% return. A remarkable surge occurred in 2023, when Bajaj Auto achieved an exceptional return of 96.01%, underscoring a year of strong performance. In 2024, returns moderated to 32.37%, reflecting a more stable yet robust growth. Overall, Bajaj Auto’s returns over this period highlight both volatility and significant wealth-creation potential for investors.

MRPL Price Return

Bajaj Auto Return (Apr 2024 – sep 2025)

226.32%
The percentage return from ₹3800 (Apr 2024) to ₹12400 (sep 2025) is 226.32%.

Bajaj Auto: Revenue Growth, Profitability & Leverage Overview (2021–2025)

Bajaj Auto has delivered consistent top-line expansion over the past five years. Revenue grew from ₹29,018 crore in FY21 to ₹52,469 crore in FY25, translating into a healthy CAGR of 15.96%. This steady growth reflects strong demand across domestic and export markets, with FY24 marking the sharpest jump (+23%) before moderating to +13% in FY25.

Profitability trends, however, show some pressure. Net profit rose from ₹4,857 crore in FY21 to ₹7,709 crore in FY24, before slipping to ₹7,325 crore in FY25. As a result, the net profit margin contracted to 13.96% in FY25 from over 16–18% in earlier years. EPS followed a similar pattern, climbing to ₹273 in FY24 but easing to ₹262 in FY25, suggesting margin headwinds despite higher revenues.

Return on Equity (ROE) remained strong through the cycle, averaging above 20%. FY24 recorded the peak at 26.4%, but FY25 saw a moderation to 22.8%, reflecting the pressure on earnings even as the equity base expanded.

On the balance sheet side, Bajaj Auto moved from a debt-free position until FY23 to taking on leverage in FY24–25. The Debt-to-Equity ratio rose from 0.06 in FY24 to 0.26 in FY25, while the liabilities-to-equity ratio increased to 0.54. While still manageable, this shift indicates growing reliance on borrowings to fund expansion or working capital.


Bajaj Auto: Cash Flow Analysis (2021–2025)

Cash flow trends show volatility. FY25 reported negative operating cash flow of ₹1,406 crore, a sharp reversal from strong inflows of over ₹6,558 crore in FY24. This indicates pressure from working capital requirements despite accounting profits.

Investing activities consumed ₹1,056 crore in FY25, reflecting steady capital expenditure. Financing activities, on the other hand, provided a large inflow of ₹4,230 crore, reversing outflows in prior years. This highlights higher borrowings and capital-raising in the latest year.

Overall, net cash increased by ₹1,771 crore in FY25, lifting closing cash balances to ₹2,332 crore — a sizeable improvement in liquidity despite weak operating cash flows.


Fundamental Summary

Strengths: Consistent revenue growth (CAGR 15.96%), strong ROE, healthy liquidity buffer.
Weaknesses / Risks: Margin compression in FY25, EPS decline, rising leverage, negative operating cash flow.

📌 Investor Takeaway:

Bajaj Auto showcases steady top-line growth and resilient returns, supported by a strong brand and scale. However, FY25 highlights emerging risks — thinner margins, negative operating cash flow, and higher debt levels. For long-term investors, the company remains fundamentally strong, but close monitoring of profitability and leverage is essential.

📊 Bajaj Auto Financial Overview (2021–2025)

ParticularsMar 25Mar 24Mar 23Mar 22Mar 21
EQUITIES AND LIABILITIES
Equity Share Capital279.26279.18282.96289.37289.37
Total Share Capital279.26279.18282.96289.37289.37
Reserves and Surplus34,909.4828,683.2329,078.5829,570.2826,984.06
Total Reserves and Surplus34,909.4828,683.2329,078.5829,570.2826,984.06
Total Shareholders Funds35,188.7428,962.4129,361.5429,859.6527,273.43
Minority Interest0.010.010.010.010.01
NON-CURRENT LIABILITIES
Long Term Borrowings6,082.74633.330.000.000.00
Deferred Tax Liabilities [Net]1,123.03493.13345.15402.68522.14
Other Long Term Liabilities205.95156.75157.77159.07160.61
Long Term Provisions14.336.831.241.301.98
Total Non-Current Liabilities7,426.051,290.04504.16563.05684.73
CURRENT LIABILITIES
Short Term Borrowings3,153.781,152.570.000.000.00
Trade Payables6,372.715,597.394,121.183,632.154,574.11
Other Current Liabilities1,795.602,150.66983.09902.60917.06
Short Term Provisions261.72190.61166.47153.75152.37
Total Current Liabilities11,583.819,091.235,270.744,688.505,643.54
Total Capital And Liabilities54,198.6139,343.6935,136.4535,111.2133,601.71
ASSETS
Tangible Assets3,636.523,196.362,811.531,810.731,620.25
Intangible Assets40.0721.0130.7025.3247.30
Capital Work-In-Progress29.2028.2385.2777.2115.98
Intangible Assets Under Development31.606.870.000.000.00
Fixed Assets3,737.393,252.472,927.501,913.261,683.53
Non-Current Investments23,011.8522,655.0921,601.5621,664.9916,658.54
Deferred Tax Assets [Net]88.690.000.000.000.00
Long Term Loans And Advances6,450.97576.992.284.5731.78
Other Non-Current Assets1,463.781,060.77954.711,162.781,040.20
Total Non-Current Assets34,752.6827,545.3225,486.0524,745.6019,414.05
CURRENT ASSETS
Current Investments5,902.025,431.594,581.354,969.138,028.11
Inventories2,077.361,688.751,563.551,230.511,493.89
Trade Receivables2,125.222,075.531,752.431,516.382,716.85
Cash And Cash Equivalents2,847.60955.32690.48958.06538.84
Short Term Loans And Advances3,465.19207.923.624.175.74
Other Current Assets3,028.541,439.261,058.971,687.361,404.23
Total Current Assets19,445.9311,798.379,650.4010,365.6114,187.66
Total Assets54,198.6139,343.6935,136.4535,111.2133,601.71
OTHER ADDITIONAL INFORMATION
Contingent Liabilities4,743.56195.150.000.000.00
Bonus Equity Share Capital258.85258.85258.85258.85258.85
Non-Current Investments Unquoted Book Value23,011.8517,834.6916,717.5317,601.2013,369.58
Current Investments Unquoted Book Value5,902.025,431.594,581.354,969.138,028.11
ParticularsMar 25Mar 24Mar 23Mar 22Mar 21
INCOME
Revenue From Operations [Gross]49,266.9543,782.0835,391.5232,135.9827,132.90
Revenue From Operations [Net]49,266.9543,782.0835,391.5232,135.9827,132.90
Other Operating Revenues1,727.601,088.351,063.861,008.73608.18
Total Operating Revenues50,994.5544,870.4336,455.3833,144.7127,741.08
Other Income1,474.411,436.021,187.521,284.141,276.46
Total Revenue52,468.9646,306.4537,642.9034,428.8529,017.54
EXPENSES
Cost Of Materials Consumed32,194.3129,267.4724,073.1322,169.8818,308.09
Purchase Of Stock-In Trade3,036.472,702.102,148.451,971.981,521.04
Changes In Inventories Of FG,WIP And Stock-In Trade28.41-76.34-100.33187.96-219.48
Employee Benefit Expenses1,925.801,627.001,484.471,362.791,288.10
Finance Costs388.9060.3639.518.666.66
Depreciation And Amortisation Expenses414.23364.77285.85269.76259.37
Other Expenses3,439.052,636.172,426.952,215.491,930.92
Less: Amounts Transfer To Capital Accounts97.2247.5327.8213.3112.27
Total Expenses41,329.9536,534.0030,330.2128,173.2123,082.43
Profit/Loss Before Exceptional, Extraordinary Items And Tax11,139.019,772.457,312.696,255.645,935.11
Exceptional Items-211.260.000.00816.510.00
Profit/Loss Before Tax10,927.759,772.457,312.697,072.155,935.11
TAX EXPENSES - CONTINUED OPERATIONS
Current Tax2,623.852,285.671,854.891,667.111,348.10
Deferred Tax63.6946.13-73.12-181.3036.31
Total Tax Expenses2,687.542,331.801,781.771,485.811,384.41
Profit/Loss After Tax And Before Extraordinary Items8,240.217,440.655,530.925,586.344,550.70
Profit/Loss From Continuing Operations8,240.217,440.655,530.925,586.344,550.70
Profit/Loss For The Period8,240.217,440.655,530.925,586.344,550.70
Share Of Profit/Loss Of Associates-915.48267.59529.29579.53306.32
Consolidated Profit/Loss After MI And Associates7,324.737,708.246,060.216,165.874,857.02
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.)262.00273.00213.00213.00168.00
Diluted EPS (Rs.)262.00273.00213.00213.00168.00
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend2,233.443,961.404,051.144,051.140.00
Mar '25Mar '24Mar '23Mar '22Mar '21
Investment Valuation Ratios
Face Value10.0010.0010.0010.0010.00
Dividend Per Share----------
Operating Profit Per Share (Rs)374.84313.83227.97181.43170.19
Net Operating Profit Per Share (Rs)1,826.081,607.221,288.371,145.42958.68
Free Reserves Per Share (Rs)----------
Bonus in Equity Capital92.6992.7191.4789.4589.45
Profitability Ratios
Operating Profit Margin(%)20.5219.5217.6915.8317.75
PBIT Margin(%)19.1618.1316.3714.4616.07
Gross Profit Margin(%)19.7118.7116.9115.0216.81
Cash Profit Margin(%)16.8916.8515.4514.6316.57
Adjusted Cash Margin(%)16.8916.8515.4514.6316.57
Net Profit Margin(%)14.3617.1716.6218.6017.50
Adjusted Net Profit Margin(%)13.9616.6416.0917.9016.73
Return On Capital Employed(%)25.9431.9725.0420.9721.78
Return On Net Worth(%)20.8126.6120.6320.6417.80
Adjusted RONW(%)24.0125.6918.8315.9716.68
Return on Assets (Excl. Reval)1,260.081,037.411,037.671,031.90942.52
Return on Assets (Incl. Reval)1,260.081,037.411,037.671,031.90942.52
Return on Long Term Funds(%)27.9333.2225.0420.9721.78
Liquidity And Solvency Ratios
Current Ratio1.340.731.041.251.14
Quick Ratio1.980.730.771.020.91
Debt Equity Ratio0.260.06------
Long Term Debt Equity Ratio0.170.02------
Debt Coverage Ratios
Interest Cover29.64162.90186.08723.36892.16
Total Debt to Owners Fund0.260.06------
Financial Charges Coverage Ratio30.71168.95193.32754.51931.10
FCCR Post Tax20.90134.75161.62744.14769.23
Management Efficiency Ratios
Inventory Turnover Ratio24.5526.5723.3226.9418.57
Debtors Turnover Ratio24.2823.4422.3115.6612.49
Investments Turnover Ratio1.151.461.241.111.02
Fixed Assets Turnover Ratio7.397.366.657.3316.48
Total Assets Turnover Ratio1.151.461.241.111.02
Asset Turnover Ratio1.361.491.231.161.13
Avg Raw Material Holding----------
Avg Finished Goods Held----------
Days in Working Capital59.50-21.10-14.16-12.48-13.40
Profit & Loss Account Ratios
Material Cost Composition70.2872.4573.4772.8373.21
Imported Raw Materials %----------
Selling Distribution Cost %1.031.081.01--0.89
Expenses % of Sales----------
Cash Flow Indicator Ratios
Dividend Payout Ratio NP30.4951.3966.8465.70--
Dividend Payout Ratio CP28.8549.0663.8362.94--
Earning Retention Ratio73.5846.7726.7615.07100.00
Cash Earning Retention Ratio74.8149.2530.3619.62100.00
Adjusted Cash Flow Times1.040.23------
Bajaj Auto - Consolidated Cash Flow
------------------- in Rs. Cr. -------------------
Mar '25
(12 mths)
Mar '24
(12 mths)
Mar '23
(12 mths)
Mar '22
(12 mths)
Mar '21
(12 mths)
Net Profit Before Tax10,223.5310,040.047,841.987,651.686,241.43
Net Cash From Operating Activities-1,405.576,558.165,277.424,197.213,119.88
Net Cash (used in)/from Investing Activities-1,056.27-343.731,199.52-80.86-2,868.36
Net Cash (used in)/from Financing Activities4,230.07-6,167.36-7,180.70-4,056.33-19.52
Net (decrease)/increase In Cash and Cash Equivalents1,771.08318.83-692.07417.08231.21
Opening Cash & Cash Equivalents560.45241.62933.69516.61285.40
Closing Cash & Cash Equivalents2,331.53560.45241.62933.69516.61

✨ Bajaj Auto Ltd. (BAJAJ-AUTO) 📊 Fundamental Analysis

Consistent Growth with Strong Returns

Bajaj Auto is one of India’s leading automobile companies, delivering consistent revenue growth and healthy profitability. The company maintains financial discipline, reflected in strong ROE, controlled liabilities, and a stable equity base. However, recent margin pressure and rising debt levels warrant closer monitoring.

🔸 Revenue & Growth (CAGR: 15.96%)

YearRevenue (₹ Cr)Growth (%)
202129,017.54
202234,428.85+18.65%
202337,642.90+9.34%
202446,306.45+23.02%
202552,468.96+13.31%

📈 Bajaj Auto has maintained a healthy top-line growth trajectory.

🔸 Net Profit & Margins

YearNet Profit (₹ Cr)Net Profit Margin (%)
20214,857.0216.74
20226,165.8717.91
20236,060.2116.10
20247,708.2416.65
20257,324.7313.96

💡 Strong profitability overall, though margins dipped in 2025.

🔸 EPS (Earnings Per Share) Growth

YearEPS (₹)EPS Growth (%)
2021168
2022213+26.79
20232130.00
2024273+28.17
2025262-4.03

📊 EPS saw strong gains till 2024, but slipped slightly in 2025.

🔸 Return on Equity (ROE)

YearNet Profit (₹ Cr)Average Equity (₹ Cr)ROE (%)
20214,857.02
20226,165.8728,566.5421.58
20236,060.2129,610.6020.47
20247,708.2429,162.0026.43
20257,324.7332,075.5822.84

📈 ROE has consistently remained above 20%, highlighting strong efficiency.

🔸 Debt Metrics

YearTotal Borrowings (₹ Cr)Shareholders’ Funds (₹ Cr)Debt-to-Equity
2021027,273.430.00
2022029,859.650.00
2023029,361.540.00
20241,785.9028,962.410.06
20259,236.5235,188.740.26

💳 Bajaj Auto remained debt-free till 2023; debt rose sharply in 2025.

🔸 Liabilities-to-Equity Ratio

YearTotal Liabilities (₹ Cr)Shareholders’ Funds (₹ Cr)Ratio
20216,328.2727,273.430.23
20225,251.5529,859.650.18
20235,774.9029,361.540.20
202410,381.2728,962.410.36
202519,009.8635,188.740.54

⚠️ Liabilities have risen significantly in recent years, reducing cushion vs equity.

✅ Summary: Is Bajaj Auto a Good Long-Term Investment?

  • Strengths:
    🚀 Strong revenue growth with ~16% CAGR
    📈 Consistently high ROE (20–26%)
    💰 Historically debt-free, strong cash flows
    🏅 Market leadership and established brand
  • Risks:
    ⚠️ Decline in margins in FY25 despite revenue growth
    ⚠️ Rising leverage (Debt/Equity 0.26)
    ⚠️ Volatile cash flow from operations

🧠 Final Verdict:

Bajaj Auto remains a fundamentally strong company with robust growth and high returns. While recent debt addition and margin pressure require attention, its solid equity base, profitability, and leadership position make it an attractive option for long-term investors.

Bajaj Auto Shareholding Pattern (Jun 2025)

CategoryPercentage% Change QoQ
Promoters55.04%0.00
Pledge0.01%0.00
FII10.29%-1.31
DII12.00%+1.12
Mutual Funds7.08%+0.54
Others22.67%+0.19

Bajaj Auto Shareholding Pattern (June 2025)

As of June 2025, Bajaj Auto’s promoters hold a solid 55.04% stake, reflecting continued confidence in the company’s long-term prospects. Pledged shares remain negligible at 0.01%, indicating financial stability. Foreign Institutional Investors (FII) account for 10.29%, showing a slight decline of 1.31% QoQ, while Domestic Institutional Investors (DII) and Mutual Funds hold 12.00% and 7.08% respectively, highlighting steady institutional interest. The remaining 22.67% is owned by other investors, showing marginal growth from previous quarters. Overall, promoter control is strong, institutional participation is balanced, and public investors maintain a meaningful stake, ensuring broad market engagement.

📈Bajaj Auto Technical Analysis: Price Charts, Trends & Potential Movements

Here, we analyze price action, support/resistance levels, moving averages, RSI, MACD, and other indicators to forecast near- and long-term movements.

Bajaj Auto Ltd. (BAL) 📊 52-Week Price Performance Snapshot

52-week low: ₹7,126.19
52-week high: ₹12,353.32
Current price: ₹8,795.50

Bajaj Auto is trading 23.42% above its 52-week low, showing healthy recovery support after earlier market softness. However, it remains 28.80% below its 52-week high, reflecting a meaningful correction from peak valuations. This places the stock in a consolidation zone, where investors may view it as an attractive mid-range entry with long-term potential. Sustained earnings growth, margin stability, and demand in both domestic and export markets will be key drivers for further upside. For now, Bajaj Auto offers a mix of resilience and value, appealing to investors with a balanced risk appetite.

Bajaj Auto Ltd. (BAJAJ-AUTO.NS) 📊 Moving Averages Snapshot

50-Day Moving Average: ₹8,307.95
200-Day Moving Average: ₹8,337.67

Bajaj Auto is currently trading close to both its 50-day and 200-day moving averages, signaling a phase of consolidation rather than strong directional momentum. This suggests the stock is finding equilibrium, with neither bulls nor bears in firm control. Sustaining above these levels could open room for a gradual uptrend, while a slip below may invite near-term pressure. For long-term investors, stability around moving averages reflects resilience, while short-term traders may look for a decisive breakout to gauge fresh momentum. The next leg of movement will likely hinge on earnings visibility and demand trends.