Bajaj Auto Q2 Results: Automaker posts highest-ever quarterly PAT & revenue — 5 key highlights from earnings

Bajaj Auto Q2 Results: Two-wheeler maker Bajaj Auto on Friday, November 7, posted its highest-ever quarterly revenue and profit after tax (PAT) for the second quarter of the financial year 2025-26 (FY26), according to an exchange filing.

Bajaj Auto's Q2 profit stood at ₹2,479.74 crore, a 24% year-on-year (YoY) increase over ₹2,005.04 crore posted in the same quarter a year ago. At the same time, its revenue recorded a near 14% growth to ₹14,922.05 crore for the July-September period of FY26 as against ₹13,127.47 crore in the corresponding period last year.

5 key highlights from Bajaj Auto Q2 results 2025

Here are five key highlights for investors from the Q2 results announcement:

1. Richer mix of vehicles drove performance

The company's stellar Q2 show was driven by a richer mix of vehicles and best-ever spares sales. The strong performance eclipsed the disruption arising from the rare earth magnet constraints that otherwise weighed on Bajaj Auto's electric portfolio.

2. EBITDA crosses ₹3,000 crore milestone

The operating performance of the company remained resilient, with the company's earnings before interest, tax, depreciation and amortisation (EBITDA) crossing the ₹3,000 crore mark for the first time. Q2 FY26 EBITDA came in at ₹3,052 crore, a growth of 14% YoY over ₹2,653 crore in the year-ago quarter.

Additionally, the EBITDA margins also improved by 20 bps YoY to 20.5% and 70 bps sequentially to 19.7%, as favourable currency realisation and operating leverage more than offset the net cost inflation. The company also stepped up spending to drive brand preference/salience in a competitive marketplace and R&D investments on future-proofing the portfolio.

3. GST rate cut, festive demand drive domestic biz

Domestic business of Bajaj Auto posted record revenue, said Bajaj Auto as growth in premium bikes, along with a double-digit jump in commercial vehicles (CVs), led the way. GST rate change and upbeat festive sentiment further buoyed the typical seasonal upswing, the company said in a press release.

However, it added that the EV sales were curtailed amid limited supply during the quarter.

4. Exports revenue surge 35% YoY

Exports set the pace with a standout performance as it accelerated momentum, revenue +35% YoY, across regions and two-wheelers and three-wheelers.

The milestone quarter was led by strong double-digit growth in Africa and Asia, while LATAM continued its upward trajectory to set another record. KTM exports stepped up, and an encouraging uptrend on 3Ws across markets has triggered capacity expansion to feed this demand, the company added.

5. CV segment at new peak

The Commercial Vehicles segment reached a new peak in both volumes and revenue, driven by strong performance across its ICE and electric portfolios.

Double-digit revenue growth was primarily fueled by the electric vehicle segment, which expanded 1.5x year-on-year, though the growth came in slightly below expectations due to supply constraints. The quarter also marked the company’s entry into the large e-rickshaw market with the launch of ‘Riki.’

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