Bajaj Auto share price: Jefferies retains Buy rating with a Rs 4300 price target
Bajaj Auto's Q3 volume grew 9% YoY while net profit rose 23% YoY. EBITDA margin was up 1.7ppt QoQ, on operating leverage, taking EBITDA/vehicle to a decade-high. On the call, Bajaj Auto was optimistic on exports given demand recovery and market share gains, but slightly cautious on the sustainability of domestic demand improvement.
Bajaj Auto's Q3 volumes grew 9% YoY, led by the strong 26% YoY growth in export 2Ws. Q3 EBITDA was up 27% YoY and came in 14% above our estimate: Reuters