Bajaj Auto Reports Double-Digit Growth in Q1 FY25
Bajaj Auto Limited has reported a strong performance in the first quarter of FY25, showcasing double-digit growth across all key financial metrics, including domestic and export revenue, EBITDA, and PAT.
Quarter Highlights are as follows:
Revenue from Operations: ₹11,928 crores, marking a 16% year-on-year (YoY) increase driven by robust vehicle sales and record spares revenue. This growth was supported by volume expansion in both domestic and export markets and a favorable product mix.
EBITDA: ₹2,415 crores, reflecting a 24% YoY increase. The Profit after Tax (PAT) was nearly ₹2,000 crores. The EBITDA margin stood at 20.2%, up by 130 basis points YoY, driven by better realization and cost reduction, counterbalancing the expansion of the electric two-wheeler (e2W) business.
Domestic Market Performance: The domestic business maintained its momentum with its ninth consecutive quarter of double-digit growth. The electric portfolio, comprising e2W and e3W, accounted for 14% of domestic revenues, up from 6% in Q1 FY24 and 2% in FY23.
Exports: Export revenue grew by double digits YoY, with Latin America (LATAM) achieving its highest-ever revenue. Notably, Bajaj Auto commissioned its first owned overseas assembling facility in Manaus, Brazil, with an annual capacity of 20,000 units.
Motorcycles Segment: The Pulsar series continued its premiumization drive, delivering one of its strongest quarters with sustained double-digit growth. The newly launched Pulsar NS400Z has further bolstered this portfolio.Bajaj Auto Reports Robust Double-Digit Growth in Q1 FY25
Triumph Motorcycles: Nearing its first anniversary, Triumph has sold over 60,000 units, generating sales exceeding ₹1,200 crores. The domestic network now spans approximately 100 showrooms, with plans to expand to 150.
Commercial Vehicles: The commercial vehicles segment reported double-digit growth, delivering over 100,000 units for the fourth consecutive quarter. The e3W network expanded rapidly to around 200 cities, with a market share of approximately 30%.
Chetak Electric Scooters: Despite a flat industry, Chetak doubled its volumes YoY. Bajaj Auto is leveraging its wider 2W network for Chetak expansion, aiming for presence in around 500 stores by the quarter’s end.
Financial Strength: Bajaj Auto maintains a strong balance sheet with surplus cash of ₹16,764 crores, ensuring ample resources for future growth investments. The company infused ₹505 crores into its wholly owned captive financing subsidiary to support its nationwide scale-up and future-ready capabilities.
Bajaj Auto’s performance in Q1 FY25 underscores its robust market position, driven by strategic initiatives in product innovation, market expansion, and financial prudence. The company remains well-positioned for continued growth in the coming quarters.