Bajaj Auto ltd.(NSE: BAJAJAUTO) is an Indian multinational motorcycle and scooter manufacturing company. Founded in 1945, the company is based in Pune, Maharashtra, and is a part of the Bajaj Group. The company manufactures and sells motorcycles, scooters, and auto rickshaws. Some of their popular models include the Pulsar, Avenger, and Discover. Bajaj Auto has a strong presence in India and also exports its products to various countries worldwide.
Bajaj Auto reported strong financial results for Q3FY23, with revenue from operations at Rs 9,315 crore, a 3% YoY increase. The domestic business saw robust double-digit revenue growth, offsetting the drop in exports due to challenging market conditions. The company’s overall spares revenue reached an all-time high. EBITDA was also the highest ever at Rs 1,777 crore, a 29% YoY increase, driven by margin expansion of +390 bps YoY to 19.1% due to judicious pricing, better dollar realization and richer product mix.
The domestic business saw strong growth in both two wheelers and three wheelers, with solid 125 cc+ sales and a record high market share for three wheelers. The company also launched motorcycles in Brazil under the Dominar brand through a wholly-owned subsidiary. They completed a share buyback in the quarter with a total payout of ~Rs 3,100 crore (including tax), leaving the balance sheet with surplus cash of Rs 14,894 crores on December 31, 2022, providing capacity for growth investments.