Bajaj Auto posts record ~₹63,000 cr revenue but domestic market share slips to 15.6%
Niraj Bajaj's FY2026 chairman letter charts a less cyclical, more global path via EVs, premium bikes, exports and financing. Standalone revenue hit ₹58,732 cr with 23% ROE and 2.25M units exported, even as domestic share dipped from 16.6% to 15.6%.
What happened
Bajaj Auto's FY2026 chairman letter outlines diversification across EVs, premium motorcycles, exports and vehicle financing, citing record revenue of ~₹63,000
Key facts
- FY2026 standalone revenue ₹58,732 crore
- consolidated revenue ~₹63,000 crore
- surplus cash ₹18,137 crore
- AUM ₹18,835 crore
- 23% ROE
- exports 2.25 million units
- market share 16.6% to 15.6%
Why this matters
Bajaj's bet on EVs, premium bikes, 2.25M-unit exports and financing opens partnership and M&A angles to reinforce global reach while plugging domestic share leakage.
What to watch
- Domestic share dropping below 15% in next quarterly print
- Export volume decline or forex headwind hitting realizations
- EV subsidy/policy changes (FAME, state incentives)
- Commuter segment demand recovery or further rural weakness
- Margin guidance revision on dealer incentives or input costs
- Monitor monthly SIAM/VAHAN domestic 2W & 3W registration data for further share slippage
- Track Chetak EV monthly volumes and EV margin trajectory
- Watch export run-rate stability amid currency/geopolitical risk in Africa/LatAm/Asia
- Assess Bajaj Auto Credit (financing) loan book growth and asset quality
- Compare quarterly commentary from TVS, Hero, HMSI on entry-segment gains