Bajaj Auto posts record Q1 as profit rises 46% and exports top 7 lakh units

Bajaj Auto reported consolidated net profit of ₹3,225.63 crore, up 45.9% year on year, on revenue of ₹21,688.83 crore, up 65%. EV revenue nearly doubled and accounted for nearly 30% of domestic business, while supply constraints limited further EV growth.

— Source publishedTue, 21 Jul, 2026, 14:00 IST·First seen Tue, 21 Jul, 2026, 14:01 IST·Source Outlook Business

What happened

Bajaj Auto posted record Q1 FY2026-27 earnings, led by domestic motorcycles, three-wheelers, EVs and exports. EV revenue nearly doubled but capacity and supply

Key facts

  • Consolidated net profit: ₹3,225.63 crore, up 45.9% YoY
  • Consolidated revenue from operations: ₹21,688.83 crore, up 65% YoY
  • Standalone revenue: ₹17,244 crore, up 37% YoY
  • Standalone EBITDA: over ₹3,500 crore
  • Standalone PAT: ₹2,983 crore
  • EBITDA margin: 20.9%, up 110 basis points YoY
  • Domestic revenue growth: 26% YoY
  • EV revenue: nearly doubled YoY; nearly 30% of domestic business
  • Exports: over 7 lakh units
  • Sports-segment retail sales grew 1.5x faster than industry; segment grew about 50%

Why this matters

The rapid EV mix expansion and export scale make Bajaj Auto a more compelling partner or competitor in electric two- and three-wheelers, though component supply remains a strategic bottleneck.

What to watch

  • Quarterly EV deliveries, waiting periods and the pace at which supply constraints ease.
  • EV revenue mix, gross-margin trend and dealer-discount intensity.
  • Monthly domestic two-wheeler registrations and Bajaj Auto market-share changes.
  • Export volumes by major region, especially Africa, Latin America and South Asia.
  • Battery-cell, semiconductor and rare-earth availability and input-cost movement.
  • Competitive EV launches and pricing actions from TVS, Ola, Ather and Hero MotoCorp.
  • Increase EV component sourcing and manufacturing capacity to relieve supply bottlenecks.
  • Expand Chetak distribution, model variants and financing partnerships to convert domestic demand.
  • Prioritize export-market inventory, premium motorcycles and currency-risk management after record shipment volumes.
  • Use higher cash generation for product development, selective capacity investment and shareholder returns.