Bajaj Auto Limited Earnings Summary — Q4 FY2026

• Revenue reached an all-time quarterly high of ₹17,832 Crores, indicating massive scale expansion.
• Net Profit grew significantly to ₹3,492 Crores, aided by a substantial jump in Other Income (₹1,894 Crores).
• Operating Profit Margins (OPM) compressed to 17%, the lowest in several quarters, down from 23% in the previous quarter.
• Borrowings have surged dramatically to ₹22,713 Crores by Mar 2026, marking a shift in the capital structure.
• Interest expenses have escalated to ₹344 Crores for the quarter, following the increased debt profile.
• Depreciation saw a sharp spike to ₹289 Crores, suggesting recent heavy commissioning of assets or capacity.
• The tax rate dropped to 19% in the current quarter, significantly lower than the historical average of 24-27%.
• Export footprint remains strong with a presence in 79 countries acting as a hedge against domestic cyclicality.

Management emphasizes 'profitable growth' and premiumization through the Triumph and KTM brands while navigating the EV transition.

Improving

While margins were under pressure, the absolute growth in revenue and bottom-line profit reached record levels, supported by strategic asset valuation.

The company continues its aggressive push into the EV segment via the Chetak brand and premium sports motorcycle market, though investors should monitor the rising debt levels used for this expansion.