The PAT is attributable to the owners of the company.
Revenue from operations stood at Rs 15,735 crore during the quarter under review, registering a 19% rise over Rs 13,247 crore reported in the year-ago period. The company said the quarterly revenue marked a new company high, crossing the Rs 15,000 crore mark, supported by a richer mix of vehicles and record-high sales of spare parts.
The company noted that strong performance across segments helped offset challenges from the rare earth magnet constraints, which had impacted its fastest-growing electric vehicle portfolio.
Bajaj Auto said the quarter’s results were a reflection of its resilient and adaptable business model.
On a sequential basis, however, the consolidated PAT saw a 4% decline from Rs 2,210 crore in Q1FY26. The topline, on the other hand, grew by 20% quarter-on-quarter compared to Rs 13,133 crore in the April-June quarter.Brokerage firm Nuvama maintained a ‘Hold’ rating on Bajaj Auto and slightly revised its target price to Rs 9,700 from Rs 9,800 earlier. Nuvama stated that the Q2FY26 revenue and EBITDA growth of 14% and 15% YoY, respectively, were in line with expectations.Nuvama also projected a 7% volume CAGR for the company over FY25–28, with domestic growth estimated at 2% and export growth at 13%. It further noted that the domestic two-wheeler market share may dip from 12% in FY25 to 10% in FY28. Export demand is expected to remain strong, driven by markets in Latin America and Asia.
Revenue/EBITDA CAGR for the period FY25–28 is projected at 11%/12%, while return on equity (RoE) is estimated at 28%.
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