Q3 2026 Bajaj Auto Ltd Earnings Call Transcript
Key Points
- Bajaj Auto Ltd (BOM:532977) reported an all-time high top line of over INR15,000 crores, marking a 19% growth.
- EBITDA reached over INR3,100 crores at 20.8%, another record high, with PAT crossing INR2,500 crores.
- The company saw a significant increase in export sales, surpassing 600,000 units for the first time in 15 quarters.
- The domestic motorcycle segment benefited from GST rationalization, leading to a 15% industry growth in Q3.
- The electric vehicle portfolio now contributes to 25% of domestic revenues, with both electric 2-wheelers and 3-wheelers crossing INR1,000 crores in quarterly revenues.
- Commodity cost pressures, particularly in noble metals like platinum, palladium, and rhodium, have increased, impacting margins.
- The domestic motorcycle market share faced challenges due to an asymmetry in product upgrade cycles compared to competitors.
- Despite growth, Nigeria, a key market, continues to show negative sales compared to the previous year.
- The electric 2-wheeler segment, while growing, operates at lower margins compared to the company's average, affecting overall profitability.
- The company absorbed the impact of the GST rate increase on 350cc plus motorcycles, affecting margins to maintain competitiveness.
Ladies and gentlemen, good day, and welcome to Q3 FY26 results conference call of Bajaj Auto Limited. My name is Nirav, and 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 of Investor Relations from Bajaj Auto Limited. Thank you, and over to you, Mr. Newar.
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Thank you, Nirav. Good evening, everyone, and thank you for joining us for the call today. Welcome to Bajaj Auto's Q3 FY26 Earnings Conference Call. Let me begin the call with wishing you -- all of you a happy and prosperous New Year. 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
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