Overview
- Bajaj Auto reported Q2 FY26 revenue of Rs 14,922 crore, net profit of Rs 2,480 crore and EBITDA of Rs 3,052 crore with margins at 20.5%.
- Overseas revenue rose about 35% year on year with strong demand from Africa, Asia and Latin America, aiding overall performance.
- Electric two-wheeler output was hit by rare-earth magnet shortages in July–August, and the company re-homologated motors using alternate magnets as Chetak supply recovered by September–October.
- Brokerages were divided, with CLSA rating Outperform (TP Rs 10,604), BofA Neutral after a TP cut to Rs 9,300 and Jefferies Hold at Rs 9,200, citing domestic motorcycle market-share losses, particularly in 125cc-plus, and KTM execution as key watchpoints.
- Elsewhere in the group, Bajaj Finance’s consolidated profit rose 22–23% to about Rs 4,875–4,948 crore with AUM up 24% to Rs 4,62,261 crore as gross NPA increased to 1.24%, and Bajaj Consumer Care’s net profit climbed 33% to Rs 42.3 crore.