Bajaj Auto vs TVS Motor
Bajaj Auto trades below its peers' median P/E (30% below), TVS Motor Company above it (109% above).
TVS Motor Company earns the higher return on equity: 34.2% against 29.3%.
TVS Motor Company grew revenue faster over three years: 20.4% a year against 19.8% a year.
TVS Motor Company fires fewer of our forensic red flags: 1 of 30 judged against 2 of 30 judged.
The latest change on file is TVS Motor Company's, on 28 Oct 2026: Q2 FY2027 results filed.
Bajaj Auto trades at a P/E of 23.23: 3rd of 7 among its peers (peer median 33.2).
Bajaj Auto: the full company page →TVS Motor Company trades at a P/E of 55.61: 7th of 7 among its peers (peer median 26.6).
TVS Motor Company: the full company page →Bajaj Auto and TVS Motor Company, figure by figure
| Figure | Bajaj Auto | TVS Motor | Leads |
|---|---|---|---|
| Market cap | ₹3,01,707 Cr | ₹2,14,070 Cr | Bajaj Auto, larger |
| P/E | 23.23 | 55.61 | Bajaj Auto, cheaper |
| P/B | 7.01 | 14.20 | Bajaj Auto, cheaper |
| Dividend yield | 1.5% | 0.3% | Bajaj Auto, higher |
| ROE | 29.3% | 34.2% | TVS Motor Company, higher |
| ROCE | 38.4% | 37.1% | Bajaj Auto, higher |
| Profit margin | 15.5% | 5.8% | Bajaj Auto, higher |
| Revenue growth, 3 years | 19.8% a year | 20.4% a year | TVS Motor Company, faster |
| Profit growth, 3 years | 21.0% a year | 31.5% a year | TVS Motor Company, faster |
| 1-year return | +24.4% | +28.3% | TVS Motor Company, higher |
| 5-year return | +22.8% a year | +44.6% a year | TVS Motor Company, higher |
| Quality score | 50.7 | 62.5 | TVS Motor Company, higher |
| Our valuation view | Fair, low confidence | Dear, low confidence (held for review) | Bajaj Auto, cheaper view |
| Risk level | WATCH | WATCH | Level |
| Forensic red flags | 2 red of 30 judged | 1 red of 30 judged | TVS Motor Company, fewer |
The leading figure is in green: the lower for P/E, P/B, cost to income, NPAs, risk and red flags, the higher for the rest. P/E and P/B on the latest price; growth rates are yearly averages; returns are price only. Our valuation view and the red flags are explained on each company's page.
Which is bigger, Bajaj Auto or TVS Motor Company?
Bajaj Auto is the bigger company by market value: ₹3,01,707 Cr against ₹2,14,070 Cr for TVS Motor Company, about 1.4 times as large.
Bajaj Auto market cap is ₹3,01,707 crore (large cap), making it the 30th largest listed company on the NSE.
TVS Motor Company market cap is ₹2,14,070 crore (large cap), making it the 45th largest listed company on the NSE.
Which is cheaper on valuation, Bajaj Auto or TVS Motor Company?
Bajaj Auto is the cheaper of the two on P/E: 23.23 against 55.61 for TVS Motor Company.
On price to book, Bajaj Auto is also the cheaper: 7.01 against 14.20.
Against their own peers' median P/E, Bajaj Auto trades 30% below its own (33.2) and TVS Motor Company trades 109% above its own (26.6).
Our valuation view: fair on Bajaj Auto (low confidence) and dear on TVS Motor Company (low confidence). The view weighs the multiples against each company's peers and its own history.
Which is more profitable, Bajaj Auto or TVS Motor Company?
TVS Motor Company is the more profitable on return on equity: 34.2% against 29.3% for Bajaj Auto.
ROCE: Bajaj Auto 38.4%, TVS Motor Company 37.1%.
Profit margin: Bajaj Auto 15.5%, TVS Motor Company 5.8%.
Which grew faster, Bajaj Auto or TVS Motor Company?
TVS Motor Company grew faster over the last three years: revenue up 20.4% a year against 19.8% a year for Bajaj Auto.
Profit growth, 3 years: TVS Motor Company 31.5% a year, Bajaj Auto 21.0% a year.
Which has cleaner accounts, Bajaj Auto or TVS Motor Company?
TVS Motor Company has the cleaner accounts on our forensic checks: 1 red flag of 30 judged against 2 of 30 judged for Bajaj Auto.
Bajaj Auto: risk level WATCH, 30 of 30 flags judged.
TVS Motor Company: risk level WATCH, 30 of 30 flags judged.
A red flag is a figure out of line with what clean accounts show, not a finding of wrongdoing.
What these figures tell you
More comparisons
What this page rests on
Every figure is the one Bajaj Auto's and TVS Motor Company's own pages print, from their filings with the exchanges and our arithmetic on them; each company is set against its own peer set. A side-by-side reading of the figures on both company pages, not a recommendation to buy, sell or hold either share. Which figure matters more depends on what you are looking for.