Bajaj Auto posts 5% rise in Q2 revenue at ₹10,777.27 crore

Bajaj Auto on Wednesday reported a 5.6% rise in second-quarter revenue as price hikes offset weak demand for its motorcycles.

The company's total revenue from operations rose to 107.77 billion rupees ($1.29 billion) for the three months to Sept. 30 from 102.03 billion rupees a year earlier.

Key takeaways from Q2 results

Revenue from Operations registers a new high of <10,777 crores

Underpinned by double digit volume growth, with the sustained buoyancy on the domestic front cushioning the weak, albeit improving exports performance.

At Rs2, 133 crores, quarterly EBITDA surpasses the f2,000 crore milestone for the first time - growth of 21 % YoY

Margin at 19.8%, up +260 bps YoY, driven by better realisation and a richer product mix, which more than covered the drag arising from investments on growing electric scooters

Buoyant domestic business registers a new peak, on the back of six successive quarters of double-digit YoY growth

Underpinned by a broad-based performance, most notably the sustained competitive growth on 125 cc+ motorcycles and the further acceleration of three-wheeler sales that delivered its highest ever quarter

Exports stay on course to making a gradual recovery, amidst volatile market conditions - volumes up 8% sequentially

Market share holds steady with volume uptick in Africa, LATAM and SAME allowing for a slight build back of inventory in select markets; actions continue unabated to navigate currency constraints and challenging macros in overseas markets.

In motorcycles, consistent focus on premiumization enables solid market leading growth (6x YoY vs. rest of market in 125cc+)

A landmark quarter for three-wheelers as it steps up its volume trajectory to clock historic high sales (01: 99K, 02: 132K units)

Strong cash generation sustained - over f3,600 crores of Free Cash Flow added in first half, 1.6x higher than H1 FY23

Robust Balance Sheet with surplus funds at <17,326 crores as on 30th Sep 2023, after dividend distribution of ~<4,000 crores

during the quarter