Bajaj Auto Ltd.Record FY26 Amid Softening Outlook

Bajaj Auto delivered a record-breaking FY26 with revenue reaching ₹59,000 crore, up 17% year-on-year, while EBITDA crossed ₹12,000 crore for the first time, growing 19% with margins expanding 30 basis points to 20.5%.

Profit after tax surged 21% to ₹9,825 crore. Total volumes hit an all-time high above 5 million units, driven by strong performance across motorcycles, 3-wheelers, and electric segments. The company achieved a clear turnaround in the 150cc+ sports segment with sequential market share gains, as the refreshed Pulsar portfolio now contributes 50% of sales. The electric business became the largest in the auto industry, accounting for over 20% of domestic revenues with double-digit EBITDA margins.

However, management cautioned that near-term motorcycle demand will moderate from 20% growth in Q4 to 7-9% due to inflation and consumer sentiment pressures. Unprecedented commodity inflation of 3.5-4% of revenue is expected in Q1 FY27, with pricing covering only 40% of the impact. The company announced a 100% profit payout through a final dividend of ₹150 per share plus a buyback of ₹5,633 crore at ₹12,000 per share.