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Bajaj Auto Results: Latest Quarterly Results & Analysis

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Bajaj Auto Ltd. 07 Nov 2025 17:34 PM
Result PDF

Q2FY26 Quarterly Result Announced for Bajaj Auto Ltd.

2/3 Wheelers company Bajaj Auto announced Q2FY26 results

Financial Highlights:

  • Revenue from operations set a new Company best at ~Rs 15,000 crore, propelled by a richer mix of vehicles and best ever spares sales 
  • EBITDA surpassed the Rs 3,000 crore milestone for the first time, with margin stepping up to 20.5%.
  • PBT stood at Rs 3,295 crore in Q2FY26 compared to Rs 2,925 in Q2FY25
  • PAT stood at Rs 2,480 crore in Q2FY26 compared to Rs 2,005 crore in Q2FY25

Business Highlights:

  • Domestic business delivered record revenue, as stepped up growth on premium bikes and double digit growth on CVs led the way
  • Exports set the pace with a standout performance as it accelerated momentum (revenue 35% YoY) across regions and 2Ws/3Ws
  • Domestic Motorcycles saw sequential volume-led double digit revenue growth, driven by the sport segment particularly at the top end
  • KTM Triumph duo powered their biggest ever quarter with domestic retail sales exports billing of >60,000 bikes, up ~70% YoY
  • Commercial Vehicles scaled a new pinnacle on volumes and revenue, led by the strong show on both ICE and electric fronts
  • While the quarter was supply disrupted, Chetak regained leadership in October, reinforcing its position as the preferred EV scooter
  • Continued emphasis on cash generation drove ~Rs 4,500 crores of free cash flow in H1FY26, a conversion of nearly 100% of PAT

Result PDF

Result PDF
2/3 Wheelers company Bajaj Auto announced Q1FY26 results

Q1FY26 Financial Highlights:

  • Revenue from Operations: Rs 12,584 crore compared to Rs 11,928 crore during Q1FY25, change 6%.
  • EBITDA: Rs 2,482 crore compared to Rs 2,415 crore during Q1FY25, change 3%.
  • PBT: Rs 2,788 crore compared to Rs 2,622 crore during Q1FY25, change 6%.
  • PAT: Rs 2,096  crore compared to Rs 1,988 crore during Q1FY25, change 5%.

Operational Highlights:

  • Domestic: 6,34,808 units sold compared to 6,90,621 units during Q1FY25, change -9%.
  • Exports: 4,76,429 units sold compared to 4,11 ,435 units during Q1FY25, change 16%.
  • Total: 11,11,237 units sold compared to 11 ,02,056 units during Q1FY25, change 1%.

Result PDF

2/3 Wheelers company Bajaj Auto announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue at Rs 12,148 crore, up 6% YoY, driven by double-digit revenue growth on premium motorcycles, electric scooters and commercial vehicles and another solid volume led exports performance; revenue missed double-digit growth due to the temporary suspension of KTM exports
  • EBITDA at Rs 2,451 crore, up 6% YoY, with margin held at 20% for the sixth straight quarter
  • Domestic motorcycle performance was relatively subdued
  • PAT stood at Rs 2049 crore for Q4FY25 compared to Rs 1,936 crore for Q4FY24

FY25 Financial Highlights:

  • Revenue crossed the Rs 50,000 crore mark for the first time, up 12% YoY, led by record sales of both vehicles and spares
  • At Rs 10,101 crore, up 14% YoY, EBITDA clocked an all-time high; Profit after Tax also hit a new record at over Rs 8,000 crore
  • The Board of Directors have recommended a Final Dividend of Rs 210 per share, totalling to Rs 5,864 crore
  • Balance Sheet remains healthy as track record of strong cash generation was maintained, Rs 6,500 crore of Free Cash Flow added

Result PDF

2/3 Wheelers company Bajaj Auto announced Q3FY25 results
  • Revenue from Operations: Rs 12,807 crore compared to Rs 12,114 crore during Q3FY24, change 6%.
  • EBITDA: Rs 2,581 crore compared to Rs 2,430 crore during Q3FY24, change 6%.
  • EBITDA margin: 20.2% for Q3FY25.
  • PBT: Rs 2,801 crore compared to Rs 2,676 crore during Q3FY24, change 5%.
  • PAT: Rs 2,109 crore compared to Rs 2,042 crore during Q3FY24, change 3%

Result PDF

2/3 Wheelers company Bajaj Auto announced Q2FY25 results

Financial Highlights:

  • Revenue from operations at > Rs 13,000 crore for the first time, was up 22% YoY arising from new highs on both vehicles and spares.
  • At Rs 2,653 crore, EBITDA registered its biggest ever, growing a solid 24% YoY and with margin at >20% again.
  • Adjusting for the exceptional deferred tax provision, Profit after Tax (PAT) delivered a new record at Rs 2,216 crore, up 21% YoY.
    • Reported PAT was at Rs 2,005 crore, after making an additional provision of Rs 211 crore to account for the cumulative one-time impact on Deferred Tax on Investment Income, due to the withdrawal of indexation and change in tax rate in the Finance Act, 2024.

Other Highlights:

  • Green Energy portfolio scales up to reach new milestones; ~100K total units sold in Sept, 100K electric vehicles sold in the quarter.
    • The portfolio comprising of electric and CNG vehicles across both the 2W and 3W portfolio, now contributes a significant 40% of total domestic revenues - a testament of the company's strategy being translated into action
  • Sustained momentum in the Domestic business led to its highest revenue and tenth consecutive quarter of double-digit growth
    • Led by double digit growth on both motorcycles and commercial vehicles and propelled by the near trebling of electric scooters - a reflection of the broader portfolio strength in leveraging opportunities across both conventional and emerging segments
  • Export revenue grew in double digits, on better USD/INR realisation, a richer mix and another record quarter for LATAM
    • Pulsar continues to gain traction across markets as it delivered its highest quarterly sales of >1100K units , while Africa (notably Nigeria) albeit lower than the previous year, continues to see an encouraging directional uptick, partly aided by focussed interventions taken
  • Motorcycles maintained double digit growth, as Pulsar's premiumization thrust drives sports segment competitive outperformance
    • lmpactful launch of 'Freedom 125', the world's first CNG integrated bike, which halves operating costs and offers best in class rider comfort features (first in class mono-linked type suspension, long quilted seat); >30K units billed since start, now across >350 cities.
  • Domestic market focus saw Triumph deliver 50% QoQ volume (10K domestic, 16.5K total) from an extended network of >100 dealers.
    • Elevated the modern classic product line up with the launch of the Speed T4 (technology packed for relaxed riding experience) and the MY25 Speed 400 (upgrade of the erstwhile Speed 400 offering a beefier look with enhanced performance features).
  • At 140K units, Commercial Vehicles clocked another all-time high on volumes and resultant revenue.
    • Well on the path to replicating the leadership of the ICE 3W segment to e3Ws, as the segment exit market share reached 35%, having doubled from the end of last year, driven by quality products, a trusted brand, and network expansion to over 600 touchpoints.
  • Chetak electric scooters accelerate its competitive play-volumes at 70K, up >3X YoY with Sept market share at 21% (11% in June).
    • Sharp execution of the EV strategy on both product and distribution fronts; the step up driven by the successful launch of the affordable variant last quarter and leveraging the wider motorcycle network to expand availability to nearly 3,000 touch points now.
  • Track record of strong cash generation continued with the quarter adding > Rs 2.000 crore of Free Cash Flow.
    • Balance Sheet remains healthy with surplus cash of Rs 16,392 crore, after having invested Rs 1.200 crore behind strategic growth enablers (primarily capital infusion into Bajaj Auto Credit Ltd. and EV capex) and distributing Rs 2.233 crore as dividend in H1FY25.

Result PDF

Automobile company Bajaj Auto announced Q1FY25 results: 
  • Revenue from operations at Rs 11,928 crore, 16% YoY on the back of robust vehicles sales and record spares revenue.
  • Delivered another strong profit performance with EBITDA at Rs 2,415 crore, 24% YoY; Profit after Tax came in at nearly Rs 2K crore
  • Margin at 20.2%, was up 130 bps YoY, driven by better realization and cost reduction which more than offset the drag from the growing e2W business; sequentially, margin was sustained at the 20% levels yet again.
  • Domestic business maintained its momentum and resilience, registering its ninth successive quarter of double-digit growth.
  • Sustained broad-based growth across the motorcycles, commercial vehicles and electric scooters portfolio; the electric portfolio (e2W, e3V) comprised 14% of domestic revenues this quarter (Q1FY24: 6%, FY23: 2%) 
  • Exports revenue grew double-digit YoY with LATAM clocking its highest ever and an uptick in Asia alleviating challenges in Africa
  • Consistent growth and market share gains over time has led to LATAM emerging as the largest region this quarter; notably, the first owned overseas assembling facility was commissioned in Manaus, Brazil with an annual capacity of 20,000 units (single shift basis).
  • Volume-led double digit growth in Commercial Vehicles, as it delivers over 100K units in a quarter for the fourth time in a row. The well-received response to the e3W proposition propelled a rapid expansion of the network to ~200 cities (60 cities in Mar'24), with exit market share reaching ~30% and putting e3Ws on a promising path to replicating the leadership position as in the IC segment.
  • Strong Balance Sheet position with surplus cash of Rs 16,764 crore, providing sufficient fuel for future growth investments.
  • Track record of strong free cash flow generation maintained; capital of around Rs 505 crores was infused into the wholly owned captive financing subsidiary to fund its scale up across the country and build its future ready capabilities.

Result PDF

Automobiles company Bajaj Auto announced Q4FY24 & FY24 results:

FY24 Financial Highlights:

  • Revenue: Achieved an all-time high of Rs 44,685 crore, marking a 23% YoY increase due to record sales in both vehicles and spares.
  • EBITDA: Hit the highest ever at Rs 8,825 crore, representing a significant rise of 35% YoY.
  • Profit After Tax (PAT): Peaked at Rs 7,479 crore.
  • EBITDA Margin: Improved by 180 basis points to 19.7%.
  • Domestic Business: Sustained momentum led to the largest revenue with double-digit growth.
  • Exports: Closed the year flat amidst challenging global market conditions.
  • Domestic Motorcycles: Achieved market leadership in the 125cc segment, growing 8X versus industry growth.
  • Premium Portfolio: KTM had its biggest year, with Triumph adding strength since launch.
  • Commercial Vehicles: Surged ahead with historic high volumes, growing over 50% YoY.
  • Chetak Electric Vehicles: Grew 3X YoY and became the third player in the segment.
  • Cash Flow: Almost Rs 6,600 crore of Free Cash Flow was generated, an increase of around 45% YoY.
  • Final Dividend: The Board of Directors recommended a final dividend of Rs 80 per share, totaling about Rs 2,233 crore.

Q4FY24 Financial Highlights:

  • Quarterly Revenue: Grew by 29% YoY to Rs 11,485 crore.
  • EBITDA: The quarter at 2,307 crore grew 34% YoY, with a margin of 20.1%.
  • PAT: Rose to Rs 1,936 crore, a 35% increase YoY.
  • Domestic Motorcycles: The 125cc segment continued to gain market share.
  • Commercial Vehicles: Maintained growth with e3Ws expanding rapidly.
  • Chetak Electric Vehicles: Recorded the highest quarterly volume sold.
  • Exports: Revenue grew by double digits YoY with flatter volume.
  • Triumph: Continued to gain momentum with 18,800 units delivered this quarter.

 

Result PDF

2/3 Wheelers company Bajaj Auto announced Q3FY24 results:

Key Financial Highlights:
  • Revenue from Operations of Rs 12,114 crore, up 30% YoY
  • Quarterly EBITDA reached its highest ever at Rs 2,430 crore, marking a YoY increase of 37%.
  • Profit After Tax surpassed the 2,000 crore milestone at Rs 2,042 crore, up 37% YoY.
  • Margin increased to 20.1%, up by 100 basis points (bps) YoY.
  • Factors contributing to margin improvement include better realizations, dynamic cost management, and operating leverage.
  • Balance sheet remains healthy with surplus cash at Rs 18,439 crore as of the end of December.
  • A buyback of Rs 4,000 crore at Rs 10,000 per share was announced, pending shareholder approval.
Domestic Business Performance:
  • Domestic business delivered a robust quarter with volume-led revenue growth of nearly 50% YoY.
  • Double-digit YoY growth across all segments, including motorcycles (especially in the 125cc category), commercial vehicles, and electric 2W/3W portfolio.
Export Growth:
  • Despite challenges in overseas markets, exports saw near double-digit YoY revenue growth.
  • Market share held steady, and a slight uptick in billing volumes was observed.
  • Growth in exports was driven by a stronger performance in LA TAM, Asia, and premium bike exports, offsetting challenges in Africa.
Motorcycle Segment:
  • Domestic motorcycles maintained a solid run, growing 2X of the market.
  • Pulsar, with its highest quarterly volume of 400K units, led competitive growth in the 125cc segment.
  • Flagship event 'Pulsarmania' across 100 cities contributed to reinforcing the brand proposition.
Commercial Vehicles:
  • Commercial vehicles continued to perform well, maintaining a volume trajectory of >40K units per month.
  • The popularity of e3W and segment leadership prompted the advancement of network expansion plans.
Chetak e2W Performance:
  • Investments in Chetak e2W yielded results, with volumes >3X YoY.
  • Exit market share at 14%, compared to 5% in the previous year.
  • Chetak's portfolio strengthened with the introduction of new Urbane and Premium scooters.
Triumph Motorcycles:
  • Triumph observed encouraging double-digit segment market share across select cities.
  • Export markets commenced operations, and a well-received Scrambler launch took place in October.
  • ~15K units delivered, with plans to expand the domestic network to 41 cities.

 

Result PDF

Automobiles company Bajaj Auto announced Q2FY24 results:

1. Record Revenue: Bajaj Auto Limited achieved a new milestone with its revenue from operations reaching a record high of Rs 10,777 crore, marking a 6% YoY growth. This remarkable performance was driven by strong domestic sales and improving exports.

2. Impressive Profitability: The company's EBITDA for the quarter crossed the Rs 2,000 crore mark for the first time, reaching Rs 2,133 crore, reflecting a significant growth of 21% compared to the previous year. The EBITDA margin also improved by 260 basis points to 19.8%, driven by better realization and a richer product mix.

3. Strong Domestic Performance: Bajaj Auto witnessed robust growth in its domestic business, with six consecutive quarters of double-digit YoY growth. This was fueled by strong demand for its 125cc motorcycles as well as the highest-ever quarterly sales of three-wheelers.

4. Export Recovery: While exports continued to face challenges due to unpredictable market conditions, Bajaj Auto made progress in its export volumes, which increased by 8% sequentially. The company maintained a stable market share in key export markets and took measures to mitigate currency constraints and macroeconomic challenges.

5. Premiumization Strategy: Bajaj Auto's focus on premiumization in the motorcycle segment paid off, with significant market share gains in the 125cc category. The company launched the all-new Pulsar N150, which received a positive customer response for its aggressive styling, advanced features, and competitive pricing.

6. Strong Three-Wheeler Sales: Bajaj Auto's three-wheeler segment witnessed a remarkable performance, achieving historic high sales in the quarter. The growing acceptance of electric three-wheelers also contributed to the positive momentum, with expansion plans on track to cover more cities.

7. Triumph Motorcycles Progress: Bajaj Auto reported substantial progress in its partnership with Triumph Motorcycles, with the delivery of the Triumph Speed 400 commencing in August. Strong demand and favorable customer feedback bode well for the future growth of the brand.

8. Cash Generation and Balance Sheet Strength: The company maintained robust cash generation, adding over Rs 3,600 crore of free cash flow in the first half of the fiscal year. With a surplus fund of Rs 17,326 crore, Bajaj Auto's balance sheet remains strong.
 

 

 

Result PDF

Automobiles company Bajaj Auto announced Q1FY24 results:

  • Revenue from operations clocked a record Rs 10,310 crore, up 29% YoY (16% QoQ)
  • Highest quarterly EBITDA of Rs 1,954 crore delivered, a growth of 51% YoY (14% QoQ)
  • Domestic revenues registered its biggest-ever quarter, maintaining its double-digit growth trajectory yet again
  • Amidst the continued currency/macro challenges in overseas markets, export volumes improved sequentially by 12%
  • Motorcycles deliver strong volume-led growth with share gain; the Pulsar brand scales a new peak in volumes and revenue
  • Launched the electric 3W across both cargo & passenger segments in select markets to a very encouraging initial response
  • The steady expansion of Chetak EV is well underway - volumes up > 2x QoQ, 3x YoY with the network now extended to 90 cities
  • Unveiled the new Triumph Speed 400 & Scrambler 400X - designed to deliver a fun, agile and confidence-inspiring ride
  • Focus on cash generation remains - added a very healthy Rs 2,000 crore of free cash flow during Q1FY24

 

 

Result PDF

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