Bajaj Auto Limited has informed the Exchange about Transcript
BAJAJ-AUTO · price
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Bajaj Auto filed the transcript of its Q1 FY26 earnings call held on August 6, 2025. The company reported revenue of about INR 12,500 crores, EBITDA of INR 2,482 crores (19.7% margin), and standalone PAT of about INR 2,100 crores, up 5% year-on-year and the second-highest quarterly profit ever. Exports grew 16% with record retails outside Nigeria, while domestic motorcycles stayed flat as the company shifted focus to the more profitable 125cc+ segment. The EV portfolio (Chetak and e-autos) reached near double-digit EBITDA margins, with Chetak market share rising to 21% from 12% a year ago. However, production is being hit by a shortage of rare-earth (HRE) magnets, causing a 50% shortfall in July for Chetak and 25-30% for e-autos, expected to persist into Q2. The KTM restructuring plan has been approved by the Austrian court, with regulatory approvals from six countries expected in the next couple of months.
Margin dipped about 50 bps sequentially due to weak dollar realization, but management expects a return to FY25 average margin levels next quarter with currency turning into a tailwind and flat cost vs pricing. The EV magnet supply issue is a near-term overhang on growth, while the KTM consolidation and export strength in Brazil and Latin America remain positive medium-term drivers. Shareholders can expect continued cash generation (surplus cash ~INR 17,000 crores) and strategic investments in EV and ICE innovation.