Bajaj Corp

₹244.7 3.5 | 1.4%

WEBSITE BSE:533229 NSE : BAJAJCON 10 May, 16:01

Market Cap ₹3493 Cr.

Stock P/E 22.5

P/B 4.2

Current Price ₹244.7

Book Value ₹ 58.2

Face Value 1

52W High ₹271

Dividend Yield 1.23%

52W Low ₹ 170.3

Edit Ratio

Bajaj Corp Research see more...

Overview Inc. Year: 2006Industry: Household & Personal Products

Bajaj Consumer Care Ltd, previously Bajaj Corp Ltd is an India-based holding employer. The Company is engaged within the enterprise activity of buying and selling and manufacturing of cosmetics, toiletries and different personal care merchandise. It is a FMCG organisation. It's products consist of Bajaj Brahmi Amla Hair Oil, Bajaj Jasmine Hair Oil, Bajaj Nomark Oily Skin Face Wash, Bajaj Nomarks Herbal Scrub Soap, Bajaj Kailash Parbat Thanda Tel, Bajaj Almond Drops Hair Oil, Bajaj Nomark Oily Skin Cream, Bajaj Nomarks Neem Soap, Bajaj Nomarks Oil Control Soap and others. The Company's manufacturers are being sold thru stockists and are to be had in retail outlets throughout the country. The Company has about eight production facilities, of which four units are situated in Himachal Pradesh (at Parwanoo and Paonta Sahib), three units are located in Uttrakhand for manufacturing of diverse variants of hair oils and Nomarks and the other unit is positioned at Udaipur, Rajasthan.

Bajaj Corp Share Price

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Peer Comparison

Bajaj Corp Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	229	218	249	232	230	249	270	235	239	240
Other Income	10	11	7	10	10	10	11	11	11	12
Total Income	238	229	256	242	240	260	281	246	250	252
Total Expenditure	190	184	213	202	197	208	222	198	203	205
Operating Profit	48	45	43	41	43	52	58	48	47	46
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	2	2	2	2	2	2	3	3
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	47	44	41	38	40	49	56	45	44	44
Provision for Tax	8	8	7	7	7	9	10	8	8	8
Profit After Tax	38	36	34	32	33	40	46	37	36	36
Adjustments	0	0	0	-0	0	0	0	0	0	0
Profit After Adjustments	38	36	34	32	33	40	46	37	36	36
Adjusted Earnings Per Share	2.6	2.4	2.3	2.1	2.3	2.8	3.2	2.6	2.5	2.5

Bajaj Corp Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	607	672	826	800	797	827	918	852	922	880	961	984
Other Income	40	40	32	29	42	30	25	30	37	39	40	45
Total Income	647	712	857	828	839	857	943	883	959	919	1001	1029
Total Expenditure	434	486	586	526	536	578	652	648	681	706	822	828
Operating Profit	213	226	271	302	303	278	291	235	278	213	178	199
Interest	0	6	0	0	1	1	1	4	1	1	1	0
Depreciation	4	4	5	5	5	7	7	6	6	5	9	10
Exceptional Income / Expenses	0	-29	-47	-47	-18	0	0	0	0	0	0	0
Profit Before Tax	208	187	219	250	278	270	283	225	270	206	169	189
Provision for Tax	42	38	46	54	60	59	62	40	47	37	30	34
Profit After Tax	166	149	173	196	218	211	222	185	223	170	139	155
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	166	149	173	196	218	211	222	185	223	170	139	155
Adjusted Earnings Per Share	11.3	10.1	11.7	13.3	14.8	14.3	15	12.5	15.1	11.5	9.8	10.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	9%	4%	3%	5%
Operating Profit CAGR	-16%	-9%	-9%	-2%
PAT CAGR	-18%	-9%	-8%	-2%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	42%	-4%	-6%	2%
ROE Average	17%	24%	30%	34%
ROCE Average	21%	29%	36%	43%

Bajaj Corp Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	483	519	489	481	494	492	467	653	757	810	790
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1	0	1	1	1	1	0	0	1	3	10
Total Current Liabilities	71	60	79	84	95	114	138	161	135	118	125
Total Liabilities	555	579	568	566	590	608	605	815	894	931	924
Fixed Assets	121	236	185	139	162	158	154	151	149	152	160
Other Non-Current Assets	3	1	1	12	2	17	26	31	29	32	32
Total Current Assets	432	342	382	415	426	432	425	632	716	747	731
Total Assets	555	579	568	566	590	608	605	815	894	931	924

Bajaj Corp Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	3	20	4	9	5	7	13	10	6	12
Cash Flow from Operating Activities	123	126	207	193	212	180	176	179	237	129	101
Cash Flow from Investing Activities	-10	4	-20	6	-15	37	69	-173	-106	1	65
Cash Flow from Financing Activities	-111	-112	-204	-194	-200	-216	-238	-9	-134	-124	-163
Net Cash Inflow / Outflow	2	17	-16	5	-3	1	7	-3	-3	5	3
Closing Cash & Cash Equivalent	3	20	4	9	5	7	13	10	6	12	14

Bajaj Corp Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	11.27	10.1	11.71	13.32	14.8	14.31	15.02	12.52	15.12	11.5	9.76
CEPS(Rs)	11.53	10.39	12.04	13.65	15.16	14.81	15.5	12.92	15.55	11.84	10.36
DPS(Rs)	6.5	6.5	11.5	11.5	11.5	12	14	2	10	8	5
Book NAV/Share(Rs)	32.72	35.2	33.12	32.61	33.5	33.39	31.49	44.08	51.25	54.76	55.18
Core EBITDA Margin(%)	28.43	27.69	28.98	34.22	32.71	30.01	29.05	24.01	26.15	19.76	14.42
EBIT Margin(%)	34.38	28.76	26.52	31.33	35.05	32.71	30.96	26.9	29.48	23.58	17.67
Pre Tax Margin(%)	34.36	27.88	26.5	31.3	34.92	32.56	30.83	26.4	29.33	23.46	17.57
PAT Margin (%)	27.39	22.17	20.91	24.56	27.39	25.48	24.13	21.68	24.21	19.28	14.49
Cash Profit Margin (%)	28.04	22.82	21.5	25.18	28.05	26.37	24.9	22.36	24.88	19.85	15.38
ROA(%)	31.67	26.26	30.1	34.64	37.76	35.26	36.54	26.03	26.12	18.59	15.01
ROE(%)	36.5	29.73	34.26	40.52	44.76	42.79	46.31	33.15	31.73	21.69	17.46
ROCE(%)	45.82	38.56	43.45	51.14	55.84	53.39	56.96	39.34	37.87	26.4	21.23
Receivable days	4.55	4.98	4.78	8.81	12.09	13.19	13.87	13.48	9.5	8.62	9.41
Inventory Days	29.42	20.46	17.4	20.42	21.22	19.63	21.37	26.53	21.01	20.79	20.58
Payable days	106.6	93.65	84.54	58.15	56.81	73.39	84.45	102.36	83.06	56.65	37.57
PER(x)	19.5	21.5	39.22	28.96	26.67	33	20.64	10.61	17.19	14.2	15.56
Price/Book(x)	6.72	6.17	13.86	11.82	11.78	14.14	9.85	3.01	5.07	2.98	2.75
Dividend Yield(%)	2.96	2.99	2.5	2.98	2.91	2.54	4.51	1.51	3.85	4.9	3.29
EV/Net Sales(x)	5.03	4.57	8.04	7.05	7.31	8.42	4.99	2.31	4.15	2.72	2.24
EV/Core EBITDA(x)	14.36	13.59	24.51	18.65	19.22	25.02	15.73	8.37	13.78	11.26	12.05
Net Sales Growth(%)	28.19	10.71	22.91	-3.14	-0.4	3.84	11.04	-7.22	8.17	-4.54	9.2
EBIT Growth(%)	37.86	-7.38	13.34	14.42	11.48	-2.97	4.92	-19.37	18.54	-23.64	-18.18
PAT Growth(%)	38.38	-10.37	15.94	13.77	11.1	-3.28	4.98	-16.62	20.76	-23.98	-17.93
EPS Growth(%)	38.38	-10.37	15.94	13.77	11.1	-3.28	4.98	-16.64	20.75	-23.98	-15.11
Debt/Equity(x)	0	0	0	0.02	0.03	0.03	0.05	0.03	0.01	0	0
Current Ratio(x)	6.07	5.73	4.84	4.92	4.5	3.78	3.08	3.92	5.29	6.32	5.86
Quick Ratio(x)	5.57	5.07	4.35	4.32	4.05	3.37	2.64	3.53	4.97	5.84	5.45
Interest Cover(x)	2543.57	32.83	1623.01	1106.99	270.36	221.19	242.82	53.98	197.57	205.57	174.39
Total Debt/Mcap(x)	0	0	0	0	0	0	0.01	0.01	0	0	0

Bajaj Corp Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	38.04	38.04	38.04	38.04	38.04	39.16	39.35	39.35	39.35	39.3
FII	18.83	17.55	14.79	12.08	11.31	11.71	12.75	14.76	14.41	14.11
DII	14.67	12.62	12.96	17.46	18.63	19.47	16.96	17.42	17.17	17.47
Public	28.46	31.79	34.22	32.42	32.02	29.67	30.94	28.47	29.07	29.12
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	5.61	5.61	5.61	5.61	5.61	5.61	5.61	5.61	5.61	5.61
FII	2.78	2.59	2.18	1.78	1.67	1.68	1.82	2.11	2.06	2.01
DII	2.16	1.86	1.91	2.58	2.75	2.79	2.42	2.48	2.45	2.49
Public	4.2	4.69	5.05	4.78	4.72	4.25	4.41	4.06	4.15	4.16
Others	0	0	0	0	0	0	0	0	0	0
Total	14.75	14.75	14.75	14.75	14.75	14.33	14.26	14.26	14.26	14.28

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Debtor days have improved from 56.65 to 37.57days.
Company is almost debt free.

Cons

Promoter holding is low: 39.3%.
Stock is trading at 4.2 times its book value.
The company has delivered a poor profit growth of -8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.