Bajaj Auto Q3 FY24: Domestic Two-Wheeler Sales Drive Record Results

Bajaj Auto delivered a strong performance in Q3 FY24. It has achieved record revenue of ₹ 12,114 crore, representing a 30% increase year-on-year (YoY). This growth was primarily driven by domestic two-wheeler sales, which rose an impressive 44% YoY to 6,55,453 units.

Within the domestic two-wheeler segment, the 125cc category witnessed particularly strong growth, with volumes increasing sixfold compared to the previous year. This segment was led by the popular Pulsar brand, further solidifying Bajaj Auto's market position.

Bajaj has mastered the art of segmenting with the Pulsar brand, providing buyers with a touch of status without breaking the bank. Pricing plays a crucial role in this success. Bajaj consistently updates its Pulsar range, creating a clear distinction between commuter and sporty products. An example of this is the availability of the 125 cc model in the basic Pulsar brand, the Pulsar NS brand, and also in the form of the 125 Duke from KTM.

Bajaj Auto has made significant progress in the electric vehicle (EV) sector, with Chetak electric scooter sales tripling year-on-year. It now holds a 14% share in the Indian electric scooter market. The upcoming launch of new EV models is anticipated to enhance the company's position in this growing market.

Recently, they updated Chetak, anticipating steady growth in market share. There are plans to expand the lineup with more products in 2024.

The commercial vehicle (CV) business at Bajaj Auto has remained stable, consistently growing with monthly sales surpassing 40,000 units. Being a prominent player in the Indian CV market, Bajaj Auto expects to sustain this growth trend in the future.

Apart from sales numbers, Bajaj Auto exhibited robust financial performance. The company's EBITDA grew by 37% year-on-year to ₹2,430 crore, with margins expanding to 20.1%. Profit after tax also increased by 37% YoY to ₹2,042 crore. Furthermore, Bajaj Auto maintains a strong balance sheet with surplus cash of ₹18,439 crore, showcasing solid financial preparedness.