Bajaj Auto Q2 results: profit up 35% as exports jump 41%

What happened. On 27 October 2026 the board of Bajaj Auto approved its unaudited results for the quarter ended 30 September 2026, the second quarter of its financial year 2026-27. In the stock exchange filing, standalone revenue from operations was ₹20,003 crore, up 34% from ₹14,922 crore a year earlier. The company calls it its first quarter above ₹20,000 crore. Profit after tax was ₹3,354 crore, up 35%. Reuters put that at $352.55 million and wrote that analysts, on average, had expected ₹3,168 crore (31.68 billion rupees), according to LSEG data.

Margins. EBITDA, which is operating profit before interest, tax, depreciation and amortisation, rose 37% to ₹4,172 crore. The EBITDA margin was 20.9%, against 20.5% a year earlier. The company says a currency tailwind, operating leverage and cost control made up for the fact that it recovered only part of higher input costs through prices.

Exports lead. Total vehicle sales rose 20% to 1,548,884 units. Domestic sales rose 4% to 770,356 units. Exports rose 41% to 778,528 units, slightly more than domestic sales. Two-wheeler exports grew 43% and commercial vehicle exports 26%. The company says Africa nearly doubled its billing from a year earlier and Latin America had its best sales ever.

Electric. Bajaj says its electric portfolio reached about 200,000 units, against 82,000 a year earlier, and is now one third of domestic revenue. Revenue from the Chetak scooter passed ₹2,000 crore. The company says supply was tight because demand was higher than what it could build, and that it is raising production.

Cash. For the first half of the year, revenue was ₹37,247 crore (up 35%) and profit ₹6,337 crore (up 38%). The company reports free cash flow of about ₹4,000 crore for the quarter and surplus funds of about ₹15,500 crore, after returning about ₹10,000 crore to shareholders through dividends and a buyback.

Our take. These are standalone figures for the parent company. The filing also has group figures, which we did not use here. One strong quarter does not say what comes next, and part of the gain came from the exchange rate, which can move either way. We did not check how the shares reacted. This is not advice to buy or sell shares.

حقائق مؤكدة

• On 27 October 2026 the board of Bajaj Auto approved the unaudited results for the quarter and half year ended 30 September 2026.^[1]
• Standalone revenue from operations was ₹20,003 crore, up 34% from ₹14,922 crore in the same quarter a year earlier. The company calls it its first quarter above ₹20,000 crore.^[1][3]
• Standalone profit after tax was ₹3,354 crore, up 35% from ₹2,480 crore.^[1][2]
• Reuters put the profit at 33.54 billion rupees ($352.55 million at 95.1350 rupees per dollar). Analysts, on average, had expected 31.68 billion rupees, according to LSEG data.^[2]
• EBITDA rose 37% to ₹4,172 crore. The EBITDA margin was 20.9%, against 20.5% a year earlier.^[1][3]
• The company says a currency tailwind, operating leverage and cost control made up for the fact that higher input costs were only partly recovered through pricing.^[1]
• Total vehicle sales rose 20% to 1,548,884 units. Domestic sales rose 4% to 770,356 units. Exports rose 41% to 778,528 units.^[1][3]
• Two-wheeler exports rose 43% to 676,545 units. Commercial vehicle exports rose 26% to 101,983 units.^[1][3]
• Africa nearly doubled its billing from a year earlier, and Latin America had its best sales ever.^[1][3]
• The electric portfolio reached about 200,000 units, against 82,000 in the same quarter a year earlier, and is one third of domestic revenue.^[1][3]
• Revenue from the Chetak electric scooter passed ₹2,000 crore. The company says demand outstripped supply and production is being ramped up.^[1][3]
• First-half revenue was ₹37,247 crore, up 35%. First-half profit after tax was ₹6,337 crore, up 38%.^[1][3]
• Free cash flow for the quarter was about ₹4,000 crore. Surplus funds were about ₹15,500 crore, after returning about ₹10,000 crore to shareholders through dividends and a buyback.^[1][3]

التبعات

• مؤكدExports were the main driver of growth in the quarter: they rose 41% while domestic sales rose 4%.
• قراءتناPart of the margin came from a favourable exchange rate, so a change in the currency could affect later quarters.
• قراءتناElectric scooter and rickshaw sales could be higher if supply catches up with demand.

لا يزال مجهولًا

• Whether export growth holds in the next quarters.
• How the exchange rate will move.
• When Chetak supply catches up with demand.
• How the shares reacted to the results.

من يتأثر

India, Africa, Latin America, Worldwide. People who follow Indian companies, emerging markets, the auto industry and electric vehicles

المصادر

1. Bajaj Auto: Outcome of the Board Meeting: unaudited financial results for Q2 and H1 FY27, with press release (stock exchange filing) 27 أكتوبر 2026 · رسمي
2. Reuters: India's Bajaj Auto posts quarterly profit beat on healthy export demand 27 أكتوبر 2026 · إعلام
3. HT Auto: Bajaj Auto Q2 Results: Revenue crosses ₹20,000 Crore, Net Profit jumps 35% 28 أكتوبر 2026 · إعلام