Bajaj Auto Ltd.

Bajaj Auto delivered exceptional Q3 FY26 results with record-breaking performance across all metrics.

Revenue reached an all-time high of ₹15,220 crore, up 19% year-on-year, while EBITDA stood at ₹3,161 crore with margins expanding to 20.8%, and PAT crossed ₹2,549 crore, up 21% year-on-year. The EV business achieved a significant milestone, contributing 25% of domestic revenues with both e-scooters and e-autos individually crossing ₹1,000 crore and delivering double-digit EBITDA margins for the first time. Export volumes surpassed 600,000 units after 15 quarters, maintaining a 200,000+ monthly run rate.

Management is executing an aggressive product strategy with 15 launches planned across the Pulsar portfolio to recapture market share in the crucial 125cc-plus segment. The company increased KTM ownership to 75% and initiated a comprehensive turnaround plan. Free cash flow generation remained strong at ₹5,200 crore in nine months, up 70% year-on-year. Management expects motorcycle industry growth of 12-15% and commodity inflation of 50-60 basis points, which will be managed through pricing actions and operational efficiencies.