Bajaj Auto Ltd (BAJAJ-AUTO) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- The entire EV business, including Chetak and three-wheelers, is now margin accretive at the corporate level, driven by better unit economics and higher PLI incentives.
- Management is expanding overall capacity from 625,000 to 775,000 units annually to address demand-supply gaps in EVs, premium motorcycles, and three-wheelers.
- Two new brands will be launched in FY27, introducing new platforms to address the 125cc to 250cc space and complement the core Pulsar portfolio.
Performance Overview
- Delivered a record-breaking performance in Q2 FY27, achieving the highest-ever volumes, revenue, EBITDA, PAT, and free cash flow.
- Exports business surpassed its highest-ever volume, crossing 7.8 lakh units with a 41% YoY growth, significantly outperforming the industry across key regions.
- The domestic two-wheeler strategy focused on the premium (125cc+) and EV segments, consciously deprioritizing the 100cc segment to protect profitability.
- Chetak EV business achieved a milestone of 1 million scooters on the road and recorded its highest-ever monthly retails despite significant supply constraints.
- The overall EV business, including two-wheelers and three-wheelers, is now margin accretive at the corporate level.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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