Q1-FY24 · Rakesh Sharma
We are very pleased to report a strong start to the fiscal year, with new benchmarks on both financial outcomes and business operations.
BAJAJAUTO / language trends
Read confidence between the lines.
Bajaj Auto · tone and specificity signals across the available quarters.
Research layer active
Language signals
What changed in management language.
tracked
Q1-FY24 · Dinesh Thapar
Our results demonstrate the resilience and the strength of our operating model, given a unique mix of exports and domestic in the overall scheme.
Q1-FY24 · Rakesh Sharma
We have not used FOB pricing, at least to deal with the devaluation.
Q1-FY25 · Rakesh Sharma
It has been an outstanding quarter, and I think we beat the street estimates yet again, though by a small margin.
Q1-FY25 · Rakesh Sharma
There is good reason to entertain the thought that Freedom could redefine the motorcycle industry.
Q1-FY25 · Dinesh Thapar
We are strongly committed to playing and investing for competitive growth in this space and expanding this business in multiples in the times ahead.
Q1-FY26 · Rakesh Sharma
We are clocking the highest ever retail outside Nigeria. If Nigeria starts to come back, it will give a very decisive step up to exports.
Q1-FY26 · Dinesh Thapar
The EV portfolio profitability has improved significantly... nearing double-digit EBITDA margin.
Q1-FY26 · Rakesh Sharma
We will remain focused on growing our share in 125cc+ segments through concentration of our resources and efforts.
Q2-FY24 · Rakesh Sharma
Yet again, we have delivered a record financial performance with an all-time high revenue, EBITDA and PAT, breaking our previous record that was set just last quarter.
Q2-FY24 · Dinesh Thapar
Our margins closed at 19.8%, up 260 basis points year-on-year, driven by dynamic pricing cost management, better foreign exchange realization and a richer product mix.
Q2-FY24 · Rakesh Sharma
The real proposition which is really getting traction for electric two-wheelers is one based on economics. That simply as things stand now people save money depending on how much they ride every month.
Q2-FY25 · Rakesh Sharma
Q2 has yet again been an outstanding quarter. Record revenues of INR 13,000 crores, with a growth of 22%, driven by domestic exports and spare parts sales.
Q2-FY25 · Rakesh Sharma
Our green energy portfolio, which comprises the greener fuels of electric and CNG across two-wheelers and three-wheelers, are a whopping 44% of our domestic revenue.
Q2-FY25 · Dinesh Thapar
In the entirety of our electric portfolio, which is electric two-wheelers and electric three wheelers, our EBITDA in the quarter has been flat in absolute terms.
Q2-FY26 · Rakesh Sharma
We closed the quarter with a top line of almost INR 15,000 crore, growing at 14%, an all-time high. EBITDA crossed INR 3,000 crore, another all-time high, with the EBITDA percentage of 20.5%.
Q2-FY26 · Dinesh Thapar
The milestone on exports revenue is not just in rupee terms but in dollar terms as well.
Q2-FY26 · Rakesh Sharma
We have shifted to the more secure LRE-based components as well as alternate geographic sources, restoring supplies by end September and fully in October.
Q3-FY24 · Rakesh Sharma
This is a hat trick of record setting, with each of Q1, Q2, and Q3 results successively establishing records, and this despite a soft international business environment.
Q3-FY24 · Rakesh Sharma
Our strategy continues to be to drive profitable growth in the 125 cc plus segment based on product differentiation and sharp positioning.
Q3-FY24 · Dinesh Thapar
We'd like to sustain the momentum in the domestic business and look to make it about as big as the festive quarter that has just gone by. Going by historical trends, you will know that that's an audacious ask, but an aspiration nonetheless.
Q3-FY25 · Rakesh Sharma
This is the fifth successive quarter of 20%+ EBITDA, and that too with a growing EV portfolio, which now stands at 22% of domestic revenue.
Q3-FY25 · Rakesh Sharma
The green energy portfolio, comprising greener fuels of electric and CNG across two-wheelers and three-wheelers, is at 44% of our domestic revenue.
Q3-FY25 · Dinesh Thapar
We've been able to hold margin at 20.2% yet again. Our margins have been at this level, give or take a few basis points for the last six quarters.
Q3-FY26 · Rakesh Sharma
We closed the quarter with a top line of over INR 15,000 crore, an all-time high with 19% growth. EBITDA came in at over INR 3,100 crore at 20.8%, another all-time high, and PAT crossed INR 2,500 crore, yet another all-time high.
Q3-FY26 · Rakesh Sharma
The EV business now delivers double-digit EBITDA margins while improving unit economics as the portfolio continues to scale.
Q3-FY26 · Dinesh Thapar
We've never singularly depended on pricing. In fact, in a competitive market where the aspiration is to grow, share, and invest competitively, one can't rely on pricing.
Q4-FY24 · Rakesh Sharma
We are absolutely delighted to have established multiple records in FY 2024. Highest ever revenue, highest ever EBITDA and PAT, highest ever free cash flow, highest spares revenue, highest Pulsar volumes, highest three-wheeler volumes, and highest ever KTM volumes in India.
Q4-FY24 · Dinesh Thapar
The cost savings that we have seen in this quarter has contained the incremental drag arising from higher volumes.
Q4-FY24 · Rakesh Sharma
We will also take aim at the mileage-conscious commuter by launching the world's first CNG bike, which will halve the commuting expenses of the common man.
Q4-FY25 · Rakesh Sharma
FY 2025 has again set new benchmarks, with revenue hitting the peak of INR 50,000 crore for the first time, EBITDA crossing the INR 10,000 crore milestone also for the first time, steady margins at 20.2% EBITDA margins for all the four quarters and thus for the year.
Q4-FY25 · Rakesh Sharma
The arc of CapEx performance has been the steepest in the industry. From a market share of 13% in Q4 FY 2024, Chetak has plopped a market share of 25% in Q4 FY 2025, a rise of 12 percentage points on the back of the launch of the highly successful 35 series platform in end December.
Q4-FY25 · Dinesh Thapar
We have decided that we would take charge, and that is the message that we sent out through the announcement that we put out on the 22nd, looking at control of the enterprise very clearly.
Q4-FY26 · Rakesh Sharma
We are looking at moving the exports needle to 220,000 units per month this quarter up from the 200,000 levels and this despite the loss of business in the Gulf region.
Q4-FY26 · D. H. Tap
The quantum of increases across key commodities has also stepped up materially... steel is almost up 15%, copper 20%, aluminium and noble metals all up ranging from 35 to 45%.
Q4-FY26 · Rakesh Sharma
We have now reached a position where we think a substantive increase in capacity in Chetak is needed.