On consolidated basis
Quarter ended March 2025 compared with Quarter ended March 2024.
Net sales (including other operating income) of Bajaj Auto has increased 9.45% to Rs 12646.32 crore. Sales of Automotive segment has gone up 6.02% to Rs 12,221.65 crore (accounting for 93.73% of total sales). Sales of Investments segment has gone up 0.79% to Rs 373.10 crore (accounting for 2.86% of total sales). Sales of Financing segment rose 2,565.47% to Rs 443.80 crore (accounting for 3.40% of total sales). Profit before interest, tax and other unallocable items (PBIT) has slumped 5.08% to Rs 2,501.42 crore. PBIT of Automotive segment fell 10.93% to Rs 2,040.68 crore (accounting for 81.58% of total PBIT). PBIT of Investments segment rose 0.74% to Rs 372.42 crore (accounting for 14.89% of total PBIT). PBIT of Financing reported profit of Rs 88.32 crore compared to loss of Rs 25.35 crore. PBIT margin of Automotive segment fell from 19.87% to 16.70%. PBIT margin of Investments segment fell from 99.88% to 99.82%. PBIT margin of Financing segment rose from negative 152.25% to 19.90%. Overall PBIT margin fell from 22.12% to 19.18%. Operating profit margin has jumped from 19.77% to 21.29%, leading to 17.89% rise in operating profit to Rs 2,692.93 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.16% to 60.72%. Purchase of finished goods cost rose from 6.26% to 6.41%. Employee cost increased from 3.62% to 3.76%. Other expenses rose from 6.31% to 7.75%. Preoperation capitalised expenses rose from 0.13% to 0.48%. Other income rose 8.96% to Rs 392.23 crore. PBIDT rose 16.67% to Rs 3085.16 crore. Provision for interest rose 394.50% to Rs 146.52 crore. Loan funds rose to Rs 9,364.16 crore as of 31 March 2025 from Rs 1,911.74 crore as of 31 March 2024. Inventories rose to Rs 2,077.36 crore as of 31 March 2025 from Rs 1,688.75 crore as of 31 March 2024. Sundry debtors were higher at Rs 2,125.22 crore as of 31 March 2025 compared to Rs 2,075.53 crore as of 31 March 2024. Cash and bank balance rose to Rs 2,847.60 crore as of 31 March 2025 from Rs 2,037.28 crore as of 31 March 2024. Investments rose to Rs 28,913.87 crore as of 31 March 2025 from Rs 26,735.09 crore as of 31 March 2024 . PBDT rose 12.39% to Rs 2938.64 crore. Provision for depreciation rose 28.47% to Rs 119.23 crore. Fixed assets increased to Rs 3,665.72 crore as of 31 March 2025 from Rs 3,224.59 crore as of 31 March 2024. Intangible assets increased from Rs 27.88 crore to Rs 71.67 crore. Profit before tax grew 11.80% to Rs 2,819.41 crore. Provision for tax was expense of Rs 682.38 crore, compared to Rs 594.32 crore. Effective tax rate was 27.47% compared to 22.81%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 10.42% to Rs 1,801.85 crore. Equity capital increased from Rs 279.18 crore as of 31 March 2024 to Rs 279.26 crore as of 31 March 2025. Per share face Value remained same at Rs 10.00. Promoters’ stake was 55.04% as of 31 March 2025 ,compared to 55.06% as of 31 March 2024 . Promoters pledged stake was 0.01% as of 31 March 2025 ,compared to 0.01% as of 31 March 2024 .
Full year results analysis.
Net sales (including other operating income) of Bajaj Auto has increased 13.65% to Rs 50994.55 crore. Sales of Automotive segment has gone up 11.39% to Rs 49,982.13 crore (accounting for 95.26% of total sales). Sales of Investments segment has gone up 1.85% to Rs 1,445.98 crore (accounting for 2.76% of total sales). Sales of Financing segment rose 6,151.35% to Rs 1,040.85 crore (accounting for 1.98% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 1.89% to Rs 10,291.62 crore. PBIT of Automotive segment rose 0.71% to Rs 8,769.75 crore (accounting for 85.21% of total PBIT). PBIT of Investments segment rose 1.84% to Rs 1,443.72 crore (accounting for 14.03% of total PBIT). PBIT of Financing reported profit of Rs 78.15 crore compared to loss of Rs 25.35 crore. PBIT margin of Automotive segment fell from 19.41% to 17.55%. PBIT margin of Investments segment fell from 99.85% to 99.84%. PBIT margin of Financing segment rose from negative 152.25% to 7.51%. Overall PBIT margin fell from 21.81% to 19.61%. Operating profit margin has jumped from 19.53% to 20.53%, leading to 19.47% rise in operating profit to Rs 10,467.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 65.12% to 63.17%. Purchase of finished goods cost fell from 6.01% to 5.96%. Employee cost increased from 3.62% to 3.78%. Other expenses rose from 5.76% to 6.56%. Preoperation capitalised expenses rose from 0.11% to 0.19%. Other income rose 2.67% to Rs 1474.41 crore. PBIDT rose 17.11% to Rs 11942.14 crore. Provision for interest rose 544.30% to Rs 388.9 crore. Loan funds rose to Rs 9,364.16 crore as of 31 March 2025 from Rs 1,911.74 crore as of 31 March 2024. Inventories rose to Rs 2,077.36 crore as of 31 March 2025 from Rs 1,688.75 crore as of 31 March 2024. Sundry debtors were higher at Rs 2,125.22 crore as of 31 March 2025 compared to Rs 2,075.53 crore as of 31 March 2024. Cash and bank balance rose to Rs 2,847.60 crore as of 31 March 2025 from Rs 2,037.28 crore as of 31 March 2024. Investments rose to Rs 28,913.87 crore as of 31 March 2025 from Rs 26,735.09 crore as of 31 March 2024 . PBDT rose 13.97% to Rs 11553.24 crore. Provision for depreciation rose 13.56% to Rs 414.23 crore. Fixed assets increased to Rs 3,665.72 crore as of 31 March 2025 from Rs 3,224.59 crore as of 31 March 2024. Intangible assets increased from Rs 27.88 crore to Rs 71.67 crore. Profit before tax grew 13.98% to Rs 11,139.01 crore. Provision for tax was expense of Rs 2898.8 crore, compared to Rs 2331.8 crore. Effective tax rate was 28.35% compared to 23.23%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 4.98% to Rs 7,324.73 crore. Equity capital increased from Rs 279.18 crore as of 31 March 2024 to Rs 279.26 crore as of 31 March 2025. Per share face Value remained same at Rs 10.00. Promoters’ stake was 55.04% as of 31 March 2025 ,compared to 55.06% as of 31 March 2024 . Promoters pledged stake was 0.01% as of 31 March 2025 ,compared to 0.01% as of 31 March 2024 . Other Highlights
The board recommended a dividend of
Rs 210 per share of face value of Rs 10 each for the financial year ended 31
March 2025. The Record Date fixed for the purpose is Friday, 20 June 2025.
In FY25, Domestic business
registered highest-ever revenue, growing 12% YoY across both two and three
wheelers. Electric vehicles comprise 20% of domestic revenue. Exports rebounded
strongly to double-digit volume and revenue growth.
In Q4 FY25, Domestic motorcycle
performance was relatively subdued; strategic product interventions and
decisive pricing actions were taken to restore growth momentum and market share.
In Q4 FY25, Exports volume grew a 20%
YoY, as countries across LatAm, Africa and Asia saw a broad-based step up
during the quarter.
In Q4 FY25, domestic two wheeler
volume decreased 8% to 5,01,096 units compared to Q4 FY24. Domestic CV volume
up 2% to 1,12,152 units, exports two wheeler volume increased 20% to 4,42,467 units
and exports CV volume increased 14% to 47,219 units on YoY basis.
In FY25, domestic two wheeler volume
increased 3% to 23,08,249 units compared to FY24. Domestic CV volume rose 3% to
4,79,436 units, exports two wheeler volume increased 13% to 16,74,060 units and
exports CV volume increased 19% to 1,89,221 units on YoY basis.
| Bajaj Auto : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202503 | 202403 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 12,646.32 | 11,554.95 | 9.45 | 50,994.55 | 44,870.43 | 13.65 | | OPM (%) | 21.29 | 19.77 | 153 bps | 20.53 | 19.53 | 100 bps | | OP | 2,692.93 | 2,284.26 | 17.89 | 10,467.73 | 8,761.56 | 19.47 | | Other Inc. | 392.23 | 359.99 | 8.96 | 1,474.41 | 1,436.02 | 2.67 | | PBIDT | 3,085.16 | 2,644.25 | 16.67 | 11,942.14 | 10,197.58 | 17.11 | | Interest | 146.52 | 29.63 | 394.50 | 388.90 | 60.36 | 544.30 | | PBDT | 2,938.64 | 2,614.62 | 12.39 | 11,553.24 | 10,137.22 | 13.97 | | Depreciation | 119.23 | 92.81 | 28.47 | 414.23 | 364.77 | 13.56 | | PBT | 2,819.41 | 2,521.81 | 11.80 | 11139.01 | 9772.45 | 13.98 | | Share of Profit/(Loss) from Associates | -335.18 | 83.94 | PL | -915.48 | 267.59 | PL | | PBT before EO | 2484.23 | 2605.75 | -4.66 | 10223.53 | 10040.04 | 1.83 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 2484.23 | 2605.75 | -4.66 | 10223.53 | 10040.04 | 1.83 | | Taxation | 682.38 | 594.32 | 14.82 | 2898.8 | 2331.8 | 24.32 | | PAT | 1801.85 | 2011.43 | -10.42 | 7324.73 | 7708.24 | -4.98 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 1801.85 | 2011.43 | -10.42 | 7324.73 | 7708.24 | -4.98 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1801.85 | 2011.43 | -10.42 | 7324.73 | 7708.24 | -4.98 | | EPS (Rs)* | 64.52 | 72.03 | -10.42 | 262.29 | 276.03 | -4.98 | | | * EPS is on current equity of Rs 279.26 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Bajaj Auto : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202503 | 202403 | Var.(%) | % of (Total) | 202503 | 202403 | Var.(%) |
|---|
| Sales | | Automotive | 93.73 | 12,221.65 | 11,528.13 | 6.02 | 95.26 | 49,982.13 | 44,870.14 | 11.39 | | Investments | 2.86 | 373.10 | 370.16 | 0.79 | 2.76 | 1,445.98 | 1,419.66 | 1.85 | | Financing | 3.40 | 443.80 | 16.65 | 2,565.47 | 1.98 | 1,040.85 | 16.65 | 6,151.35 | | Total Reported Sales | 100.00 | 13,038.55 | 11,914.94 | 9.43 | 100.00 | 52,468.96 | 46,306.45 | 13.31 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 13,038.55 | 11,914.94 | 9.43 | 100.00 | 52,468.96 | 46,306.45 | 13.31 | | PBIT | | Automotive | 81.58 | 2,040.68 | 2,291.03 | -10.93 | 85.21 | 8,769.75 | 8,708.15 | 0.71 | | Investments | 14.89 | 372.42 | 369.70 | 0.74 | 14.03 | 1,443.72 | 1,417.60 | 1.84 | | Financing | 3.53 | 88.32 | -25.35 | LP | 0.76 | 78.15 | -25.35 | LP | | Total PBIT | 100.00 | 2,501.42 | 2,635.38 | -5.08 | 100.00 | 10,291.62 | 10,100.40 | 1.89 | | Less : Interest | | 17.19 | 29.63 | -41.98 | | 68.09 | 60.36 | 12.81 | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | Automotive | | 16.70 | 19.87 | -317.61 | | 17.55 | 19.41 | -186.17 | | Investments | | 99.82 | 99.88 | -5.80 | | 99.84 | 99.85 | -1.12 | | Financing | | 19.90 | -152.25 | 17,215.31 | | 7.51 | -152.25 | 15,976.05 | | PBT | 100.00 | 2,484.23 | 2,605.75 | -4.66 | 100.00 | 10,223.53 | 10,040.04 | 1.83 |
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