Quote: srh As a motorcycle manufactuter, Bajaj are pretty ordinary with a bunch of sub par products. All the fat profits are from their 3 wheeler sales and that is what shows in the valuation.3 wheeler sales numbers might be partially true, but not the only reason. Bajaj's export numbers are too high to be compared with any other 2 wheeler manufacturer in India and investors are wise enough to see that Plus, Bajaj really managed to crack the 150+ cc bikes' category, which is where they get more profits. Whether their products are sub-par or not does not matter as long as the number of units sold and profit earned per unit is good. Personally, I find their products just about the same as leaders like Honda and Hero in terms of quality. None of them are exceptional, both in terms of the product or service.