Bajaj Auto Limited is an Indian motorcycle and auto manufacturer founded in 1945. It is ranked as the fourth largest motorcycle manufacturer in the world. The company manufactures and markets scooters, motorcycles, and three-wheelers. Under the leadership of Rahul Bajaj since 1965, the company has seen significant growth in revenue. Bajaj Auto has a presence in over 50 countries and its products are distributed through a network in India and other international markets. The company reported an 11.5% growth in EBITDA for the recent fiscal year, which was a record growth for the company. The future prospects of the company look positive as it continues to expand production capacity and reports increased revenues.

1. BAJAJ AUTO LIMITED
Akash Basu
Krushil Savasiya
Murali
Rohit Bilgi
Shridhar
Vanaja
Vijay Venkat

2. INTRODUCTION
• Bajaj was founded by Jamnalal Bajaj on November
29, 1945.
• The Bajaj Group is amongst the top 10 business
houses in India
• The group's flagship company, Bajaj Auto, is ranked
as the world's fourth largest three and two wheeler
manufacturer.
• The present Chairman of the group, Rahul Bajaj,
took charge of the business in 1965. Bajaj has seen
a drastic growth in it’s turnover under his
leadership, viz, INR 72 Million to INR 120 Billion.
Chairman
Rahul Bajaj

3. NATURE OF BUSINESS
• Bajaj Auto, manufacturers two- wheelers and three-wheelers
scooters.
• The company manufactures and markets scooters,
motorcycles, passenger carriers and goods carriers.
• Bajaj Auto also trades spare parts and accessories.
• The company has distribution network in 50 countries and
presence in India, Sri Lanka, Colombia, Bangladesh, Mexico,
Central America, Peru and Egypt.
• It is headquartered in Pune, India.

4. ACCOUNTING POLICIES OF BAL.
• System of accounting
• Revenue recognition
• Property, plant and equipment and depreciation/amortization
• Intangible assets
• Investment property
• Investments and financial assets
• Derivative and hedging activities

5. • Foreign currency transactions
• Inventories
• Research & Development expenditure
• Employee benefits
• Taxation
• Provisions and contingent liabilities
• Operating leases including on investment properties
• Government grant

6. COMMENT ON AUDITOR’S REPORT
• Net sales of the company has gone down by 4.05%
• Non Current assets of the company has decreased from 11761.25 cr. to
11423.52 cr. which means the company has sold asset or it has become
obsolete or useless.
• Investments have increased to 6050.08 cr. which shows that the
company had deposited or invested a huge amount of money and in
future it can generate more revenue from this investment, in form of
interest.
• EBTIDA has grown up by 11.5% which is a record growth in its history of
the company.
• Reserve & Surplus (Other Equity) has increased by 29.03%.

7. FUTURE GROWTH PROSPECTS
• Bajaj Auto was the biggest gainer among BSE Sensex stocks.
• The company actually registered a net profit of Rs.134.02 cr.
(Rs.1.34 billion).
• Bajaj auto advances on reporting 3% rise in august sales.
• Bajaj on the back of 11.5%year-on-year volume growth for the
march quarter (Q4FY16),revenues at Rs.5,411 cr.
• Bajaj auto, which acquired a 49% stake in Austria's sport
motorcycle maker KTM 10 years ago is now charting a roadmap
for the venture for the next decade.

8. DIRECTOR’S REPORT
• The directors recommend for consideration
of the shareholders at general annual
meeting, payment of dividend H 55 per
equity share, (550%) for the year ended 31
mar 2017.
• The amount of dividend and the tax thereon
aggregate to Rs. 1,915.51 cr.
• The paid up equity share capital as on 31
march was Rs. 289.37 cr.
• The company current installed capacity is
6.06 million units per annum.
MANAGING DIRECTOR
Rajiv Bajaj

9. CURRENT TREND
• Increased Revenue were used to pay
Non Current liabilities.
Income March ’17 March ’16 March ’15
Net Sales 21766.68 22586.52 21612.01
Other Income 1221.97 1073.59 582.42
Total Income 22988.65 23660.11 22194.43
• There has been a decrease in
sales in the year 2017, in
comparison with 2016.
21000
21500
22000
22500
23000
23500
24000
2015 2016 2017
Revenue & Net Income
Source: http://economictimes.indiatimes.com/bajaj-
ltd/yearly/companyid-21430.cms

10. COMPARATIVE STATEMENT
ANALYSISASSETS March'17 March'16 Difference Percentage
Non-current assets
Property, plant and equipment 1,898.61 1936.38 -37.77 -1.950546897
Capital work-in-progress 10.64 26.89 -16.25 -60.43138713
Investment property 58.53 60.43 -1.90 -3.144133708
Intangible assets 44.65 89.29 -44.64 -49.99440027
Intangible assets under development 31.53 25.35 6.18 24.37869822
Investment in subsidiaries 1222.72 1222.72 0.00 0
Financial assets
Investments 7458.67 7717.93 -259.26 -3.359190871
Trade receivables 0.00
Loans 29.74 29.47 0.27 0.916185952
Other financial assets 0.02 0.02
Income tax assets (net) 399.94 373.65 26.29 7.035996253
Other non-current assets 268.47 279.14 -10.67 -3.822454682
Total of Non Current Asset 11423.52 11761.25 -337.73 -2.871548517

11. ASSET March ’17 March ‘16 Difference Percentage
Current assets
Inventories 728.38 719.07 9.31 1.294727912
Financial assets
Investments 6050.08 1319.94 4,730.14 358.3602285
Trade receivables 953.29 717.93 235.36 32.78314042
Cash and cash equivalents 279.82 817.55 -537.73 -65.7733472
Other bank balances 13.86 41.97 -28.11 -66.97641172
Loans 6.47 7.05 -0.58 -8.226950355
Other financial assets 263.18 52.89 210.29 397.5987899
Other current assets 263.18 1048.85 -785.67 -74.90775611
Total of Current Asset 9691.37 4725.25 4,966.12 105.0975081
TOTAL 20814.89 16486.5 4,328.39 26.25414733

12. Liabilities March '17 March '16 Difference Percentage
EQUITY AND LIABILITIES
Equity
Equity share capital 289.37 289.37 0 0
Other equity 16,744.76 12,977.18 3767.58
29.0323475
5
17,034.13 13,266.55 3767.58
28.3990939
6
Non-current liabilities
Financial liabilities
Sales tax deferral 119.9 117.86 2.04 1.73086713
Provisions 78.13 47.57 30.56
64.2421694
3
Deferred tax liabilities (net) 313.62 202.8 110.82
54.6449704
1
Government grant 49.26 40.95 8.31
20.2930402
9
-
75.5876427

13. Liabilities March '17 March '16 Difference Percentage
Current liabilities
Financial liabilities
Trade payables
Total outstanding dues of micro enterprises and small
enterprises 13.65 15.38 -1.73
-
11.248374
51
Total outstanding dues of creditors other than micro
enterprises and small enterprises 2,222.08 2,011.66 210.42
10.460018
09
Other financial liabilities 279.92 305.4 -25.48
-
8.3431565
16
Other current liabilities 557.61 299.11 258.5
86.423055
06
Provisions 120.93 112.95 7.98
7.0650730
41
Government grant 2.65 2.12 0.53 25
Current tax liabilities (net) 15.74 34.37 -18.63
-
54.204247
89
3,212.58 2,780.99 431.59
15.519293
49

14. COMMON SIZE ANALYSIS
ASSETS March'17 Percentage
Non-current assets
Property, plant and equipment 1,898.61 9.121402996
Capital work-in-progress 10.64 0.051117253
Investment property 58.53 0.281192934
Intangible assets 44.65 0.214509901
Intangible assets under development 31.53 0.151478101
Investment in subsidiaries 1222.72 5.874256362
Financial assets
Investments 7458.67 35.83333854
Trade receivables
Loans 29.74 0.142878487
Other financial assets 0.02 9.60851E-05
Income tax assets (net) 399.94 1.921412988
Other non-current assets 268.47 1.289797832
11423.52 54.88148148

15. ASSETS March ’17 Percentage
Current assets
Inventories 728.38 3.49932188
Financial assets
Investments 6050.08 29.06611565
Trade receivables 953.29 4.579846446
Cash and cash equivalents 279.82 1.344326105
Other bank balances 13.86 0.066586948
Loans 6.47 0.031083518
Other financial assets 263.18 1.264383333
Other current assets 263.18 1.264383333
9691.37 46.55979445
TOTAL 20814.89 100

16. LIABILITIES March '17 Percentage
EQUITY AND LIABILITIES
Equity
Equity share capital 289.37 1.390206722
Other equity 16,744.76 80.44606529
17,034.13 81.83627201
Non-current liabilities
Financial liabilities
Sales tax deferral 119.9 0.576029948
Provisions 78.13 0.375356295
Deferred tax liabilities (net) 313.62 1.50670986
Government grant 49.26 0.236657508
Other non-current liabilities 7.27 0.03492692
568.18 2.729680532

17. LIABILITIES March ’17 Percentage
Current liabilities
Financial liabilities
Trade payables
Total outstanding dues of micro enterprises and small enterprises 13.65 0.065578055
Total outstanding dues of creditors other than micro enterprises and small
enterprises 2,222.08 10.67543475
Other financial liabilities 279.92 1.34480653
Other current liabilities 557.61 2.678899576
Provisions 120.93 0.580978328
Government grant 2.65 0.012731271
Current tax liabilities (net) 15.74 0.075618944
3,212.58 15.43404745
Total 20,814.89 100

18. LIQUIDITY RATIO
Ratios March ’17 March ’16 March ’15
Current Ratio 3.01 1.27 0.89
Quick Ratio 2.47 1.04 0.72

19. SOLVENCY RATIO
Ratios March ’17 March ’16 March ’15
Debt Equity Ratio 1.22 1.10 1.05
Interest Coverage Ratio 3,812.16 11,220.13 682.83
7901.4
9545.16
682.83
11220.13
3812.16
0
2000
4000
6000
8000
10000
12000
2013 2014 2015 2016 2017
Interest Coverage Ratio

20. TURN0VER RATIO
Ratios March ’17 March ’16 March ’15
Debtor’s Turnover Ratio 26.05 31.62 28.57
Fixed Assets Turnover Ratio 11.53 11.28 11.27

21. PROFITABILITY RATIO
Ratios March ’17 March ’16 March ‘15
Net Profit Margin (%) 21.40 16.09 13.01
Return on Capital Employed (%) 31.11 43.24 41.01
15.21
16.09
13.01
16.09
17.58
0
2
4
6
8
10
12
14
16
18
20
2013 2014 2015 2016 2017
Net Profit Margin

22. INVESTOR RATIO
Ratios March ’17 March ’16 March ‘15
Earning Per Share 132.27 126.22 109.00
Dividend Per Share 55.00 55.00 50.00

23. COMPETITOR RATIO ANALYSIS
Ratios Bajaj Auto
(March ‘17)
Hero Motor Corp.
(March ‘17)
Gross Profit Margin (%) 18.90 14.54
Net Profit Margin (%) 21.40 11.85
Current Ratio 3.01 0.86
Quick Ratio 2.47 0.72
Return on Capital Employed (%) 31.11 46.13
Inventory Turnover Ratio 31.70 47.00
Earning Per Share 132.27 169.11

24. Ratios Bajaj Auto
(March ‘17)
Hero Motor Corp.
(March ‘17)
Dividend Payout Ratio Net Profit 3.77 51.44
Dividend Per Share 55.00 30.00 (adj.)
Inventory Turnover Ratios 31.70 47.00
Debtor’s Turnover Ratio 26.05 20.02
Fixed Assets Turnover Ratio 11.53 4.20
Interest Coverage Ratio 3,812.16 770.99
Source: http://profit.ndtv.com/stock/hero-motocorp-ltd_heromotoco/financials-ratio
http://www.moneycontrol.com/financials/bajajauto/ratios/BA10

25. THANK YOU