Q2FY24 Quarterly Result Announced for Bajaj Auto Ltd.
Automobiles company Bajaj Auto announced Q2FY24 results: 1. Record Revenue: Bajaj Auto Limited achieved a new milestone with its revenue from operations reaching a record high of Rs 10,777 crore, marking a 6% YoY growth. This remarkable performance was driven by strong domestic sales and improving exports. 2. Impressive Profitability: The company's EBITDA for the quarter crossed the Rs 2,000 crore mark for the first time, reaching Rs 2,133 crore, reflecting a significant growth of 21% compared to the previous year. The EBITDA margin also improved by 260 basis points to 19.8%, driven by better realization and a richer product mix. 3. Strong Domestic Performance: Bajaj Auto witnessed robust growth in its domestic business, with six consecutive quarters of double-digit YoY growth. This was fueled by strong demand for its 125cc+ motorcycles as well as the highest-ever quarterly sales of three-wheelers. 4. Export Recovery: While exports continued to face challenges due to unpredictable market conditions, Bajaj Auto made progress in its export volumes, which increased by 8% sequentially. The company maintained a stable market share in key export markets and took measures to mitigate currency constraints and macroeconomic challenges. 5. Premiumization Strategy: Bajaj Auto's focus on premiumization in the motorcycle segment paid off, with significant market share gains in the 125cc+ category. The company launched the all-new Pulsar N150, which received a positive customer response for its aggressive styling, advanced features, and competitive pricing. 6. Strong Three-Wheeler Sales: Bajaj Auto's three-wheeler segment witnessed a remarkable performance, achieving historic high sales in the quarter. The growing acceptance of electric three-wheelers also contributed to the positive momentum, with expansion plans on track to cover more cities. 7. Triumph Motorcycles Progress: Bajaj Auto reported substantial progress in its partnership with Triumph Motorcycles, with the delivery of the Triumph Speed 400 commencing in August. Strong demand and favorable customer feedback bode well for the future growth of the brand. 8. Cash Generation and Balance Sheet Strength: The company maintained robust cash generation, adding over Rs 3,600 crore of free cash flow in the first half of the fiscal year. With a surplus fund of Rs 17,326 crore, Bajaj Auto's balance sheet remains strong. Result PDF18-10-2023
