Margins maintained despite lower sequential volumes

Company

19 Apr 2024 | 5 Min Read

Bajaj Auto's 4QFY24 performance exceeded expectations with higher EBITDA/PAT.

Margins were maintained despite lower sequential volumes.

Domestic 2W volumes expected to grow 7-8% YoY in FY25E.

Export outlook uncertain due to geopolitical headwinds in key markets.

Bajaj Auto's valuation has seen a re-rating but appears fairly valued.

Neutral rating with a target price of INR8,360 reiterated.