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HISTORY:
Founded in 1926 by
BUSINESS:
JAMNALAL BAJAJ.
1945, as in
PARTERSHIP:
Bajaj Auto has a technical tie-up with Kawasaki
Heavy Industries of Japan to produce a range of the
latest, state-of-art two-wheelers in India.
LOCATION:
Bajaj Auto has three plants in Maharashtra, at
Akurdi,
Waluj and Chakan.
PRODUCT PORTFOLIO:
Bajaj
Bajaj
Bajaj
Bajaj
Bajaj
RTZ
Bajaj
Bajaj
Bajaj
Bajaj
UPCOMMING
Bajaj
Bajaj
Bajaj
Bajaj
Bajaj
Bajaj
Bajaj
Sunny
Chetak
Cub
Super
Wave
Legend
Bravo
Bajaj Blade
Bajaj Sonic
BAJAJ:
INVESTMENT
IN SURPLUS
FUNDS
As at 31
%to Total
As at 31
% to Total
March 2003
March 2002
8,653
29.7
5,797
25.6
1,739
6.0
510
2.3
8,698
29.4
4,040
17.9
Preferences Shares
854
2.9
917
4.1
Inter Corporate
Deposits
1,651
5.7
2,609
11.6
140
0.5
184
0.8
Fixed income
investments
21,735
74.7
14,057
62.3
7,355
25.3
8,499
37.7
Total Cost
29,090
100.0
22,556
100.0
Market Value
29,433
21,235
2002
2003
Net Sales
4172.1
4829.37
PBIT
705.22
804.12
3.38
1.12
PBT
701.84
803
Less Tax
183.68
268.36
PAT
518.16
534.64
1368.28
1298.23
1989.83
2155.14
1365.31
1333.25
2025.73
2072.48
Average Assets
5024.74
5858.8
Average Equity
215.36
215.36
Less Interest
DUPONT ANALYSIS
Particulars
2002
2003
PBT
701.84
803
PAT
518.16
534.64
.738
.665
PBIT
705.22
804.12
PBT
701.84
803
.995
.999
DUPONT ANALYSIS
PARTICULARS
2002
2003
NET SALES
4172
4829.37
PBIT
705.22
804.12
0.207
0.202
NET SALES
4172
4829.37
AVG ASSETS
5024.74
5858.8
0.830
0.824
AVG ASSETS
5024.74
5858.8
AVG EQUITY
101.19
101.19
= EQUITY MULTIPLIER
49.66
57.90
DUPONT ANALYSIS
PARTICULARS
2002
2003
.738
.665
.995
.999
.207
.202
.830
.824
EQUITY MULTIPLIER
25.11
29.3
RETURN ON EQUITY
316.79
323.98
RATIO ANALYSIS:
BAJAJ AUTO
HERO HONDA
1.20
0.16
BAJAJ AUTO
HERO HONDA
0.26
0.16
Interest Coverage
717.76
33.85
BAJAJ AUTO
HERO HONDA
17.50
67.10
Return on Capital
Employed
21.47
94.64
Current Ratio
License
Raj Syndrome.
No
technological up gradation of
products.
High
Risk
BAJAJ MATRIX
BAJAJ MATRIX
PULSAR
SCOOTERETS
AUTO
SCOOTERS
SWOT ANALYSIS :
STRENGTH
High economies of scale.
High economies of scope.
Legacy of brand name.
Widespread distribution network.
WEAKNESS
Hasn't employed the excess cash for
long.
Centralized paternalistic
management style Not a global player
in spite of huge volumes.
No collaboration with any of the
foreign players .
OPPORTUNITIES
The growing gearless trendy
scooters and scooterette market.
Can use the existing R&D
capabilities for new models.
Can invest and grow the life style
segments.
THREATS
The competition catches-up any
new innovation in no time.
Threat of cheap imported
motorcycles from China.
Tough competition faced by foreign
as well as domestic players.
MARKET SHARE
Mkt share Motorcycle/Stepthrou's 2002-03
Bajaj Auto
Hero Honda
TVS
Yam aha
Others
24%
44%
6%
8%
2%
Atul Auto
Bajaj Auto
Bajaj tempo
M&M
Piaggio vehicles
15%
9%
4%
18%
70%
scooters/scooterette
motorcycle/step-throu's
moped
6000000
5000000
Bajaj Auto
25%
4000000
39%
3000000
2000000
TVS
17%
1000000
19%
0
FY96
FY97
FY98
FY99
FY00
FY01
FY02
FY03
HMS
Others
2002-03
Motorcycles
26,082
Scooters geared
5,261
Scooters ungeared
1,254
Step thrus
981
Three wheelers
11,542
Spare parts
2,324
Sales break
up
2002-03
2002-03
Motorcycles
% (volumes)
55
60
11.1
18.6
Scooters ungeared
2.6
4.2
Step thrus
2.1
3.8
24.3
13.4
4.9
Scooters geared
Three wheelers
Spare parts
HH.TVS,HONDA
HH, TVS , HONDA
NO
PROBLEM
IN THIS
QUADRANT
ADVENT OF
BIKES AND
DEMAND OF
PERSONAL
MOBILITY
CONSUMERS
WERE
BECOMING
DEMANDING IN
TERMS OF
CHOICE
OUR TAKE:
VER 1.0
They
The
They
OUR TAKE :
VER 2.0
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