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Release
August 2026 · rev 1
Opportunities PMS · Published
As at 31 Aug 2026 · IST₹ · ₹ cr · BSE 500 TRI
Present
Internal working platform. Published figures are extracted from the August 2026 source package and reviewed; reference prices and fundamentals are unlicensed working data, not for redistribution. Past performance is not indicative of future returns.
Company Atlas/Automobile/Bajaj Auto
NSE: BAJAJ-AUTO· AutomobileNot in Aug top-30Large cap

Bajaj Auto

Value: exports, 3W, net cash

Last close
₹10,811.00
29 Sept 2026 · reference
1D · 1M
−1.9% · −9.2%
price-only
Weight
1.6%
31 Jul 2026 · Aug rank —
Thesis review
8 Sep 2026
Why We Own, p58
Coverage owner: Research (per book); latest results Q Jun-26Buoyant AIF I Top 30 Holdings - Aug 2026.pdf · p1Buoyant_Why_We_Own_What_We_Own_Sep2026.pdf (portfolio as of 31 July 2026) · p58Screener ↗Tijori ↗NSE ↗
OverviewBusiness & segmentsChartsFinancialsValuationThesisRisks & catalystsCompetitorsResearch & documents
Where the price sits

52-week range, house target and street targets

52w low ₹8,62752w high ₹12,361
  • Reference close₹10,811
  • Antique Stock Broking Limited · BUY₹12,275

Range from reference closes; street targets from the PDFs on file (Research & documents). Internal target is never shown to prospects.

Investment case and valuation

Approved model, 8 Sep 2026 review

₹11,800
Price (2026-09-07)
34.2x / 24.3x
FY27E / FY28E P/E (Buoyant sheet)
29.7%
FY27E ROE (Buoyant sheet)
27.5x
Trailing P/E
8.5x
Price / book
n.a.
EPS CAGR FY26–28E

27.5x TTM PE vs 23x FY27E (MOFSL); P/B 8.5x is high but backed by 29% ROE and 49% payout; stock is near record high after topping its buyback price (Business Standard, 1-Sep-2026). EV/EBITDA n.m.; dividend yield 1.3%.

Model date
8 Sep 2026 (prices 7–8 Sep 2026)
Horizon
12 months (bank pages: Sep-2027 roll-forward)
Audience
Internal — the book's guardrail: do not quote a target to a client; quote the thesis and the risk
Reviewer · version
Investment Committee framework · v1 (book)
Current vs history

Trailing multiples, FY-end

RatioFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
P/E19.9x18.9x17.1x11.2x21.9x17.1x18.1x33.1x30.0x22.8x
Price to Book4.6x3.9x3.6x2.7x3.9x3.5x3.8x8.9x6.3x6.3x

Tijori FY-end multiples on reported earnings/book; compatible definitions across years, but not the same basis as Buoyant's forward P/E on internal EPS.

UnavailableScenario lab disabled. Needs an approved forward EPS and forward P/E for Bajaj Auto plus a reference price. Missing inputs are not substituted.