Bajaj Auto Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹3,28,405 Cr
- Book Value
- ₹1,389
- Stock P/E
- 27.9
- Dividend Yield
- 1.29%
- ROE
- 29.2%
- ROCE
- 28.2%
- PEG Ratio
- 1.61
- EV/EBITDA
- 19.6
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Bajaj Auto share price today
Bajaj Auto (NSE: BAJAJ-AUTO) is the premium end of Indian two-wheelers — Pulsar and KTM at home, Boxer across Africa and Latin America, and a three-wheeler franchise that quietly dominates its category. The economics are what premium positioning buys: 28.2% ROCE, ~20% operating margins, and a board with a serial buyback record that treats shareholders like owners.
One number needs decoding before anything else: the headline debt-to-equity of 0.58 is Bajaj Auto Credit, the new captive finance book, consolidating onto the balance sheet — not operating leverage. The vehicle business itself remains a cash machine. At 27.9× with a PEG of 1.61, our universe tags it wait: a franchise worth owning, at a price worth being patient for.
Exports, premium, and the EV question
Three engines drive the story. Exports — Bajaj ships to 70+ countries and is the price-setter in African motorcycle markets; currency and freight swing quarters, but the franchise is structural. Premiumisation — Pulsar, Dominar and the KTM/Triumph partnerships keep average selling prices climbing. Chetak — the EV scooter has scaled into the top tier of electric two-wheelers, giving Bajaj genuine optionality on the transition rather than exposure to it.
Watch-items: African currency cycles (export realisations), EV scooter margins as subsidies fade, the finance book’s asset quality as it seasons, and 125cc-commuter share where Honda fights hardest.
The numbers
From our research universe snapshot (5 Aug 2026):
| Metric | Value |
|---|---|
| Market cap | ₹3,28,405 Cr |
| P/E (TTM) | 27.9 |
| EV/EBITDA | 19.6 |
| Operating margin | 19.8% |
| ROE / ROCE | 29.2% / 28.2% |
| Debt to equity | 0.58 (captive finance book) |
| Sales CAGR (5y) | 17.8% |
| Profit CAGR (5y) | 17.3% |
| Promoter holding | 55.0% |
| EPS (TTM) | ₹416.4 |
Bajaj Auto share price target 2026 to 2030
EPS base ₹416.4 (TTM). Bear: export markets stay soft and EVs squeeze commuter margins — 5% growth, multiple at 18×. Base: exports normalise and premiumisation continues — 11% growth at 24×. Bull: Chetak wins the EV transition while exports boom — 15% growth at 30×.
| Year | Bear (18×, +5%) | Base (24×, +11%) | Bull (30×, +15%) |
|---|---|---|---|
| 2026 | ₹7,870 | ₹11,095 | ₹14,365 |
| 2027 | ₹8,265 | ₹12,315 | ₹16,520 |
| 2028 | ₹8,675 | ₹13,670 | ₹19,000 |
| 2029 | ₹9,110 | ₹15,170 | ₹21,850 |
| 2030 | ₹9,565 | ₹16,840 | ₹25,125 |
From ₹11,600, the base case is ≈ +45% over four and a half years plus a 1.3% yield. The bear case is −18% — auto multiples compress quickly when volumes disappoint, which is exactly why the buy range below sits well under the market.
Reasons to own Bajaj Auto (at the right price)
- 28% ROCE with a buyback habit — capital discipline is cultural here.
- The export franchise is a moat: distribution and brand across Africa/LatAm that took decades.
- Chetak converts the EV threat into an option — top-tier electric scooter share.
- Three-wheelers (including e-autos) are a near-monopoly annuity most analyses ignore.
- KTM and Triumph partnerships own the premium end of the market.
The risks: African currencies can erase export margins for quarters at a time, the commuter segment is a knife-fight, and the captive finance book adds a credit cycle to an auto cycle.
Should you buy at the current price?
The live buy range below is for members — where the wait rating turns into action.
FAQ
What is the Bajaj Auto share price target for 2030? Base case ≈ ₹16,840 (24× on 11% compounded growth), bear ≈ ₹9,565, bull ≈ ₹25,125. Arithmetic above.
Why is Bajaj Auto’s debt-to-equity 0.58 if it’s cash-rich? That’s Bajaj Auto Credit — the captive vehicle-finance subsidiary consolidating its borrowings. The manufacturing business runs net cash; the ratio is a lender’s balance sheet, not factory debt.
Is the Chetak EV profitable? Electric two-wheelers industry-wide are margin-dilutive versus petrol today; Bajaj’s advantage is scale and in-house engineering as subsidies wind down. Track segment disclosure each quarter.
When are Bajaj Auto’s next results? Track the exact date on our results calendar.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.