Bajaj Auto Reports Profit Of Rs. 1173 Crore In Q1FY23

BW Online Bureau Jul 26, 2022

Quarter Highlights

1. Revenue from operations at Rs.8,005 crores, was up 8 per cent YoY led by pricing and mix

2. EBITDA grew at 15 per cent YoY, with margin improving by 100 bps despite supply constraints, cost headwinds and a weak macro-economic context.

3. Judicious price increases, better foreign exchange realisation and favourable mix offset the material cost inflation and enabled margin improvement.

4. A significant milestone was delivered on the commitment to invest in the EV business - a new state-of- the-art plant was commissioned under Chetak Technology Limited in June 2022

5. Strong track record of cash generation was sustained; surplus cash stood at Rs. 20,509 crore as on 30th June 2022 (vs. Rs. 19,090 crore as on 31st March 2022)

6. Given the confidence on the cash generating ability and strong Balance Sheet position, announced a buyback of equity shares upto Rs 2,500 crore under the open market through stock exchange route

Financial Summary (Standalone) Rs Crores

Q4 FY22	ChangePer cent	Particulars	Q1 FY23	Q1 FY22	Change Per Cent
7,975	0	Revenue from operations	8,005	7,386	8
8,264	1	Total Income	8,324	7,715	8
1,396	-5	EBITDA	1,328	1,153	15
17.5	-90 bps	EBITDA Margin (Per Cent)	16.6	15.6	100 bps
1,897	-19	Profit before tax	1,545	1,383	12
1,469	-20	Profit after tax	1,173	1,061	11

Volumes

Q4 FY22	Change	Particulars	Q1 FY23	Q1 FY22	Change
		Domestic
3,39,100	-7	Two-wheelers	3,14,418	3,42,552	-8
50,055	-23	CV	38,418	14,585	163
3,89,155	-9	sub-total	3,52,836	3,57,137	-1
		Exports
5,19,991	2	Two-wheelers	5,32,740	5,56,753	-4
67,505	-29	CV	48,070	92,124	-48
5,87,496	-1	sub-total	5,80,810	6,48,877	-10
		Total
8,59,091	-1	Two-wheelers	8,47,158	8,99,305	-6
1,17,560	-26	CV	86,488	1,06,709	-19
9,76,651	-4	Grand Total	9,33,646	10,06,014	-7

Business Highlights

1. Sales in the quarter was significantly constrained by the inadequate availability of semi-conductors, although the situation improved in the latter part as new supply sources were developed.

2. Export performance led by strong growth particularly in ASEAN and LATAM markets with overall market share continuing to expand despite challenging macros in few markets

3. Highest ever sale of sports motorcycles in LATAM led by Dominar and Pulsar

4. Launched the all-new Pulsar N160 – equipped with a segment-first dual-channel ABS; expecting it to become a benchmark for performance and control in the entry sports motorcycle segment.

5. Pulsar 250 that was launched last year continues to be well received by customers and is steadily gaining market share

6. ‘RE’ and ‘Maxima’ brands remains a preferred choice in the Commercial Vehicles segment, as reflected in the surge in order bookings which will be delivered as supplies improve.

7. Steady progress made on expanding the presence of ‘Chetak’ scooters across the country, now available across 27 cities in India with growing order book.