Bajaj Auto bets on premium bikes, EVs and exports as FY26 revenue hits record ₹63,000 crore
Bajaj Auto's FY2026 annual report posts ₹63,000 crore consolidated revenue on 5.1 million units, with 77.5% of volumes above 125cc. Growth strategy pivots to premium (Pulsar, KTM, Triumph), EVs (Chetak at 20.7% scooter share) and exports (₹20,416 crore), while commuter share slips to 15.6% amid a 4,000+ retail touchpoint push.
What happened
Bajaj Auto's FY2026 annual report posts record ₹63,000 crore consolidated revenue, betting future growth on premium bikes, EVs (Chetak), e-rickshaws and exports
Key facts
- standalone revenue ₹58,732 crore FY2026
- consolidated revenue ~₹63,000 crore
- 5.1 million units sold
- 2.25 million export units
- ₹18,137 crore surplus cash
- 77.5% volumes above 125cc
- Pulsar ₹11,000 crore domestic / ₹16,500 crore global
- Chetak 3 lakh annual sales
- 20.7% EV scooter share
- exports ₹20,416 crore
- commuter share 16.6% to 15.6%
Why this matters
Strong exports (₹20,416 crore) and the Triumph/KTM premium portfolio signal appetite for further brand partnerships or distribution tie-ups to defend volume as the mass commuter base contracts.
What to watch
- Monthly Chetak scooter share trend (above/below 20.7%)
- Commuter segment share stabilization or further slide below 15%
- Export revenue run-rate and key-market FX (USD, NGN, EGP)
- EBITDA margin guidance commentary in quarterly calls
- EV policy/subsidy changes and competitor premium launches (RE, TVS, Hero)
- Expand 4,000+ touchpoint retail network toward tier-2/3 to recapture commuter share
- Accelerate Triumph/KTM model launches and Chetak variant ladder to defend premium leadership
- Push export diversification beyond Africa to hedge single-region FX/demand risk
- Invest in EV manufacturing capacity and battery sourcing to scale Chetak margins