Bajaj Auto Limited Earnings Summary — Q1 FY2027
Bajaj Auto Achieves Record Q1 Performance with 37% Revenue Growth and Robust EV Scaling
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 6 consecutive quarters.
- Revenue of ₹21,689 Cr is 65.1% higher year-on-year.
- Revenue has compounded at 32.3% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹3,226 Cr is 45.9% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 23.4% annualised across the period.
- Operating margin stands at 20.9% in Q1 FY2027.
- Operating margin compressed by 39 bps year-on-year.
- Over the last two years operating margin has expanded by 101 bps.
- PBT margin is 20.4%.
- Expenses grew 66.0% against revenue growth of 65.1%.
- Operating profit of ₹4,528 Cr is 62.1% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 77/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 21,689 | 17,832 | 16,204 | 15,735 | 13,133 | 12,646 | 13,169 | 13,247 | 11,932 | 11,555 |
| Expenses | Improving | 17,161 | 14,757 | 12,475 | 12,906 | 10,340 | 10,289 | 10,418 | 11,174 | 9,562 | 9,271 |
| Operating Profit | Accelerating | 4,528 | 3,075 | 3,730 | 2,829 | 2,793 | 2,358 | 2,751 | 2,073 | 2,370 | 2,284 |
| Operating Margin | Stable | 20.9% | 17.3% | 23.0% | 18.0% | 21.3% | 18.6% | 20.9% | 15.7% | 19.9% | 19.8% |
| Other Income | Volatile | 688 | 1,894 | 359 | 576 | 509 | 392 | 348 | 399 | 335 | 444 |
| Interest | Strong Uptrend | 387 | 344 | 314 | 287 | 224 | 147 | 120 | 75 | 47 | 30 |
| Depreciation | Strong Uptrend | 405 | 289 | 119 | 119 | 118 | 119 | 102 | 98 | 95 | 93 |
| Profit Before Tax | Improving | 4,423 | 4,336 | 3,656 | 2,999 | 2,961 | 2,484 | 2,876 | 2,299 | 2,564 | 2,606 |
| Tax | Improving | 1,235 | 844 | 906 | 877 | 750 | 682 | 681 | 914 | 622 | 594 |
| Net Profit | Accelerating | 3,226 | 3,662 | 2,750 | 2,122 | 2,210 | 1,802 | 2,196 | 1,385 | 1,942 | 2,011 |
| Net Margin | Stable | 14.9% | 20.5% | 17.0% | 13.5% | 16.8% | 14.3% | 16.7% | 10.5% | 16.3% | 17.4% |
Key Takeaways
- Revenue reached an all-time high of ₹17,244 crore on a standalone basis, a 37% year-on-year increase driven by record volumes.
- Electric vehicle revenues now constitute approximately 30% of the domestic business as the Chetak brand scales to new highs.
- Exports achieved their biggest ever quarter, surpassing the 700,000 unit mark for the first time with a strong rebound in Nigeria.
- Operating margins improved to 20.9%, benefiting from favorable USD/INR realizations and a better product mix.
- Free Cash Flow generation remained strong at over ₹2,300 crore, representing an 80% conversion of Profit After Tax.
- The premium KTM and Triumph brands saw domestic revenue growth of 60% YoY, supported by an expanding network.
- Consolidated results now include detailed reporting from the BAIHAG (KTM/Pierer Mobility) group following the acquisition of a controlling stake.
Management Guidance
Management is initiating capacity expansion for electric three-wheelers (e3Ws) and investing to augment production for the Chetak brand where demand continues to outpace capacity. Upcoming upgrades in the 125-160cc Pulsar range are expected to strengthen market share.
Sentiment Shift
Improving
Record quarterly volumes and revenues across both ICE and EV segments indicate a successful transition to electric mobility while maintaining high profitability.
Outlook
The company maintains a robust balance sheet with surplus funds of over ₹21,000 crore, positioned for aggressive investment in strategic priorities including international expansion of the EV portfolio.
From the Annual Report (Key Quotes)
“Record Performance (Volume | Revenue | Profit), as Electric Vehicles scale up to 30% of Domestic Business.”
“Exports stood out and achieved its biggest ever quarter, with record revenues and volumes surpassing the 700K mark for the first time.”
“Demand continued to outpace capacity, reflecting the growing strength of the brand and product proposition.”
Official Quarterly Documents
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This summary is AI-generated from Bajaj Auto Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.