Q4FY22 Result Update - Bajaj Auto - ICICI Direct

BAL reported a healthy performance in Q4FY22.

- Net revenues for the quarter were at Rs. 7,975 crore, down 11.6% QoQ

- EBITDA in Q4FY22 was at ₹ 1,366 crore; margins: 17.1% (up 190 bps QoQ)

- Reported PAT was up 21% QoQ to Rs. 1,469 crore, supported by exceptional gains amounting to ₹ 315 crore (prior period incentive receivable)

Key triggers for future price performance

- Aggressive push, capex spends and adoption of new technology landscape

- Ramping up of electric 2-W production; electric 3-W launch in June 2022

- We expect volume, net sales CAGR of ~8.5%, ~7.7% over FY23-24E (2-W CAGR ~8.5%, 3-W CAGR ~8.8%) aided by steady state export demand

- Margins to be in the current range of ~15-16% over FY23-24E

- Increasing share of margin accretive spare parts revenue, with change in strategy, which is more retailer focus now vs. distributor focus in the past

For details, click on the link below: Link to the report

Shares of Bajaj Auto Limited was last trading in BSE at Rs. 3833.50 as compared to the previous close of Rs. 3905.95. The total number of shares traded during the day was 45542 in over 6394 trades.

The stock hit an intraday high of Rs. 3992.05 and intraday low of 3804.80. The net turnover during the day was Rs. 175516137.00.

Source : Equity Bulls

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BajajAuto INE917I01010 Q4FY22 ResultUpdate ICICIDirect