Bajaj Holdings & Investment stock: fair value
BAJAJHLDNG.NSThe fair value of Bajaj Holdings & Investment under our model is $220.69, the price is 46% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $157.63 and expensive above $367.81 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $93.28 (cash-flow model) and $348.10 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 12.6%. At 13.6% the fair value would be $213.64, at 11.6% it would be $230.76.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (39.2).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 6.9%. Discounted at 12.6% (government bond yield 6.9% plus beta 0.8 times a risk premium of 7.1%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $93.28 per share: free cash flow for the next ten years, each year discounted to today at 12.6%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 12.6%) |
|---|---|---|---|---|
| 2027 | $558.06M | extrapolated at 9.8% | 0.8881 | $495.59M |
| 2028 | $608.12M | extrapolated at 9.0% | 0.7887 | $479.6M |
| 2029 | $658.97M | extrapolated at 8.4% | 0.7004 | $461.53M |
| 2030 | $711.26M | extrapolated at 7.9% | 0.6220 | $442.4M |
| 2031 | $765.58M | extrapolated at 7.6% | 0.5524 | $422.88M |
| 2032 | $822.44M | extrapolated at 7.4% | 0.4905 | $403.44M |
| 2033 | $882.32M | extrapolated at 7.3% | 0.4356 | $384.37M |
| 2034 | $945.67M | extrapolated at 7.2% | 0.3869 | $365.85M |
| 2035 | $1.01B | extrapolated at 7.1% | 0.3436 | $347.99M |
| 2036 | $1.08B | extrapolated at 7.1% | 0.3051 | $330.85M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $4.13B |
| Terminal value: cash flow 2036 × (1 + 6.9%) / (12.6% − 6.9%) | $20.47B |
| Present value of terminal value (× 0.3051) | $6.25B |
| Equity value (sum plus present value of terminal value) | $10.38B |
| Shares (diluted) | 111.29M |
| Value per share (equity value divided by shares) | $93.28 |
| Earnings per share, last twelve months | $8.87 |
| × 39.2 (industry P/E) | $348.10 |
| Fair value (average of both parts) | $220.69 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Mar 2026
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = ₹94.0836)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 27 Oct 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.