Dhruv Joshi of Mirae Asset Sharekhan Highlights Bajaj Auto’s Strong Revenue Growth and Stable Margins

By:- Dhruv Joshi, Research Analyst, Mirae Asset Sharekhan. 

 

Strong volume growth of 20% y-o-y which was led by strong export volumes, price hikes and electrification helped Bajaj report a strong revenue growth of 34% y-o-y to Rs20003 crores. Effective cost management and operational excellence helped EBITDA grow 37% y-o-y with margins relatively stable. We believe Bajaj with its refreshed portfolio and higher exports mix along with 3W contribution will continue to outpace industry growth.