Bajaj Auto’s Q2FY25 Results
Bajaj Auto’s revenue grew 22% YoY
- 18 Oct 2024
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- Bajaj Auto reported an 11% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a growth of 22%.
- Its expenses for the quarter were up by 11% QoQ and 22% YoY.
- The net profit decreased 29% QoQ and 31% YoY.
- The earnings per share (EPS) of Bajaj Auto stood at 49.7 during Q1FY25.
Bajaj Auto’s Financial Statements for Q1FY25:
| (₹ crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 11,207 | 12,267 | 13,647 | 11% | 22% |
Total expenses | 8,806 | 9,704 | 10,767 | 11% | 22% |
Profit before tax | 2,584 | 2,564 | 2,299 | -10% | -11% |
Tax | 564 | 622 | 914 | 47% | 62% |
Profit after tax | 2,020 | 1,942 | 1,385 | -29% | -31% |
Earnings per share | 71.4 | 69.6 | 49.7 |
Quarter Highlights (Standalone)
- Revenue Growth: Revenue surpassed ₹13,000 crores, up 22% YoY, driven by strong domestic performance and export recovery.
- EBITDA Record: EBITDA reached an all-time high of ₹2,653 crores, up 24% YoY, maintaining over 20% margins.
- PAT Milestone: Adjusted PAT hit a record of ₹2,216 crores, while reported PAT stood at ₹2,005 crores after-tax adjustments.
- Green Energy Growth: The green energy portfolio now contributes 40% to domestic revenues, with 100K electric vehicles sold in the quarter.
- Domestic Business: Domestic revenues hit new highs, marking 10 consecutive quarters of double-digit growth.
- Export Revenue: Export revenue grew in double digits, with LATAM achieving record sales and Pulsar’s highest-ever quarterly sales.
- Motorcycle Segment: Pulsar’s premiumisation drove double-digit growth, supported by the launch of the Freedom 125 CNG bike.
- Triumph Performance: Triumph volumes surged 50% QoQ, with new product launches and an extended dealer network.
- Commercial Vehicles: Commercial vehicle sales hit an all-time high of 140K units, with e3Ws reaching 35% market share.
- Chetak Electric Scooters: Chetak sales tripled YoY, capturing 21% market share in September, up from 11% in June.
- Cash Flow & Balance Sheet: Free Cash Flow increased by ₹2,000 crores, with surplus cash of ₹16,392 crores after strategic investments.
Commentary from Bajaj Auto Management:
- Festive Season Demand: Bajaj Auto's management noted that demand during the festive season has been below expectations.
- Retail Registrations: Retail registrations indicate muted demand in the first half of the festive period.
- Inventory Build-Up: Concerns have been raised about the build-up of inventory.
- Raw Material Costs: Rising raw material costs are adding to the pressure.
- Impact on Margins: Increased costs are expected to affect profit margins.
Data Source: BSE, Company announcements, CNBC TV 18 The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results.
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