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Bajaj Auto Q4 Results: Profit jumps 10% to Rs 1,469 crore; company declares Rs 140 per share dividend

The board of directors of the company recommended a dividend of Rs 140 per share. The total dividend payout will be Rs 4,051 crore, the company said. The compan

Bajaj Auto said on Wednesday that its own net income for the quarter ended March was Rs 1,468.95 crore, up 10.27% from Rs 1,332.07 crore reported in the same quarter last year. of the year.

A poll of analysts forecast a profit of Rs 1,036 crore. The automaker's total operating income was Rs 7,974.84 crore, down 7.22% from Rs 8,596.10 crore in the same quarter last year.

     bajaj auto ltd

The board of directors of the company recommended a dividend of Rs 140 per share. The total dividend payout will be Rs 4,051 crore, the company said. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) also fell 10% in the quarter. The EBITDA margin also declined to 17.5% from 18.1% in the previous quarter. The company said its Ebitda margin improved consistently from 15.6% in the December quarter, mainly due to the positive impact of higher prices, deferral of material cost increases, improved US dollar sales and a favourable revenue mix.

As at 31 March 2022, excess cash and cash equivalents were Rs.19,090 crore as against Rs 17,689 crore as on March 31, 2021, after a dividend payout of Rs 4,051 crore. The company said it continues to face significant supply chain challenges, especially in the fourth quarter of fiscal year 22, that are impacting motorcycle and commercial vehicle sales.

     bajaj

“The domestic commercial vehicle business grew 47% compared to the industry's 21% growth. As a result, the national market share is 62% (10.9% more than in FY21). International business recorded the highest level of sales in the 22nd fiscal year - more than 2.5 million vehicles. With sales in excess of $2 billion, exports now account for over 52% of our net sales,” the company said in a statement.

Bajaj Auto delivered strong operating performance despite low volumes in Q4 2022. We expect its export business to show healthy growth in FY23, driven by the positive momentum in the African market. We also expect the domestic 2W industry to recover gradually in FY23, while the domestic 3W business will rebound strongly in FY23,” said Mitul Shah, director of research at Reliance Securities.

“Based on healthy exports, recovery of 3W's highly profitable business, increased margins, improved productivity ratio and strong balance sheet, we have a BUY recommendation for Bajaj Auto with an annual target price of Rs 4,250. revise our estimates and target price.

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