Views on Bajaj Auto 4QFY2015 Results - Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobiles, Angel Broking) on Bajaj Auto 4QFY2015 Results:

Bajaj Auto 4QFY2015 results were ahead of our estimates due to better operating performance. Revenues declined 4% yoy to Rs 4,739 cr but were better than our estimate of Rs 4,519 cr. Higher export realization lead to beat on the topline. Operating margins adjusted for one time provison of Rs 59 cr (on account of increase in gratuity provisons) stood at 18.9%; which is in line with our estimates. Adj EBIDTA at Rs 897 cr was ahead of our estimate of Rs 853 cr. Given the robust operating performance, Adj Net Profit at Rs 661 cr drove ahead of our expectation of Rs 611 cr. Currently, we have ACCUMULATE rating on the stock.

Shares of BAJAJ AUTO LTD. was last trading in BSE at Rs.2310.5 as compared to the previous close of Rs. 2299.75. The total number of shares traded during the day was 88725 in over 5800 trades.

The stock hit an intraday high of Rs. 2342.55 and intraday low of 2255.85. The net turnover during the day was Rs. 203294181.

Source : Equity Bulls

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