Q2 2026 Bajaj Auto Ltd Earnings Call Transcript
Key Points
- Bajaj Auto Ltd (BOM:532977) achieved an all-time high quarterly revenue of almost INR15,000 crores, marking a 14% growth.
- EBITDA crossed INR3,000 crores with a margin of 20.5%, another record for the company.
- The export business unit grew volumes by 24% in Q2, with over 550,000 units exported, leading to the highest ever quarterly revenue from exports.
- The domestic motorcycle business unit delivered an all-time high retail performance during the festive period, with the Pulsar portfolio reaching peak performance.
- The company's electric vehicle portfolio, including 3-wheelers and Chetak, delivered almost 20% of domestic revenue with a double-digit EBITDA percentage in Q2.
- The domestic motorcycle industry experienced sluggish performance with a small decline of 1% during the April to August period.
- The EV segment faced supply chain constraints, particularly in the availability of e-components, leading to a 15% shortfall from plan.
- The domestic 3-wheeler EV segment lost ground due to supply chain constraints, impacting the availability of the wide-body 7012 variant.
- The electric 2-wheeler segment suffered a 50% shortfall to plan due to supply chain disruptions, although recovery is underway.
- The company absorbed the GST increase on 350cc plus motorcycles, impacting short-term profitability in this segment.
Ladies and gentlemen, good evening, and welcome to Q2 FY 2026 Results conference call of Bajaj Auto Limited. My name is Nirav. I'll be your coordinator. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Anand Newar, Head Investor Relations from Bajaj Auto Limited. Thank you, and over to you, sir.
Thank you, Nirav. Good evening, everyone, and thank you for joining us for the call today. Welcome to Bajaj Auto's Q2 FY26 Earnings Conference Call. On today's call, we have with us Mr. Rakesh Sharma, Executive Director; and Mr. Dinesh Thapar, Chief Financial Officer.
We will begin our call with the opening remarks from Rakesh on the business and operational performance for the quarter, followed by Dinesh, who will take you through the financial highlights. We will then open the forum for Q&A. Over to you, sir.
Thanks, Anand. Good evening,
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