EVs, Exports, And Premium Bikes Help Bajaj Auto Post Strong Q1 Results

Bajaj Auto reported solid numbers for Q1 FY26, driven by strong growth in exports, electric vehicles, and premium segment motorcycles. The company's consolidated net profit for the quarter ended June 30, 2025, rose 14% YoY to ₹2,210.44 crore, while revenue from operations grew 10% YoY to ₹13,133.35 crore.

Let’s break down the key highlights from the company’s Q1 FY26 performance:

Revenue crosses ₹13,000 Cr mark, up 10% YoY

In Q1 FY26, Bajaj Auto’s consolidated revenue from operations stood at ₹13,133.35 crore, up from ₹11,932.07 crore in Q1 FY25. This double-digit growth was supported by:

• Strong momentum in exports, particularly to Africa, LatAm, and Asia
• Continued ramp-up in electric two- and three-wheelers
• Growth in premium motorcycles and commercial vehicles

The company's other income also rose to ₹508.98 crore (vs ₹335.32 crore YoY), taking total income to ₹13,642.33 crore.

Net profit up 14%, aided by margin improvement and product mix

• Bajaj Auto reported a consolidated net profit of ₹2,210.44 crore, rising 14% YoY from ₹1,941.79 crore in Q1 FY25.
• This improvement came despite higher finance costs (₹223.76 crore, up sharply from ₹46.97 crore YoY), as operating leverage and a richer product mix helped offset rising input costs.
• EBITDA margins stood at 19.7% on a standalone basis, slightly lower QoQ but robust YoY, supported by better product mix and export performance.

Key growth drivers: EVs, Exports, Premium Bikes

1. Electric Vehicles (EVs)

• Now account for 20%+ of domestic revenue, up from low teens last year
• Chetak EV retail volumes more than doubled YoY, contributing half of the industry's incremental volume

2. Exports at an all-time high

• Export revenues hit a historic peak, with double-digit YoY growth in 6 of the last 7 quarters
• The company has exported 4,11,435 two-wheeler and commercial vehicles, which is a 16% growth on a year-on-year basis
• Revival in KTM exports post-restructuring also boosted numbers

3. Premium motorcycle segment

• KTM + Triumph domestic volumes crossed 25,000 units, up 20% YoY
• New models like the KTM Enduro R and the Triumph Scrambler 400XC helped expand market share

CV & EV momentum continues

Bajaj Auto remained the #1 electric 3W player in India in Q1, with retail volumes growing nearly 3x YoY, and segment share improving by over 1,000 bps to 36%.

Commercial Vehicles (CV) saw a total quarterly retail of over 1 lakh units(1,05,464 ) for the 8th straight quarter, down 2% on a year-on-year basis.

Consolidated Segment Revenue

• Automotive: ₹12,632 Cr in revenue, up 6.6% YoY
• Financing arm: ₹602 Cr in revenue (up from ₹81 Cr YoY), showing rapid scale-up
• Investments: ₹408 Cr in revenue, steady YoY growth

Total segment revenue: ₹13,642 Cr

Summary

Bajaj Auto's Q1 FY26 performance was marked by balanced growth across geographies and segments. Despite some currency headwinds and cost inflation, the company managed to grow its revenue and net profit at a healthy pace, driven by its strong export recovery, EV adoption, and premiumisation strategy.

With continued traction in electric and premium categories, and a growing financing business, Bajaj Auto seems well-positioned heading into the next quarters.

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