Bajaj Auto pulled off a slick wheelie today. Its shares jumped over 5%, touching a fresh 52-week high of ₹10,999, after the company reported its Q1 FY27 earnings.

From record-breaking revenue to a historic export rebound and scaling EV sales, Pune’s legacy automaker is firing on nearly every cylinder.

Here is how Bajaj Auto fared in the quarter ended June 30, 2026: 

Consolidated MetricQ1 FY27 (30.06.2026)Q1 FY26 (30.06.2025)YoY Change (%)
Revenue from Operations₹21,688.83 Cr₹13,133.35 Cr+65.14%
Other Income₹687.86 Cr₹508.98 Cr+35.14%
Total Income₹22,376.69 Cr₹13,642.33 Cr+64.02%
Total Expenses₹17,949.85 Cr₹10,681.68 Cr+68.04%
Profit Before Tax (PBT)₹4,423.41 Cr₹2,960.65 Cr+49.41%
Net Profit (Attributable to Owners)₹3,225.63 Cr₹2,210.44 Cr+45.93%
Basic Earnings Per Share (EPS)₹115.50₹79.20+45.83%

If you are wondering how a mature auto giant increased its top line by over 65% in a single year, part of the answer lies in a major corporate move.

In November 2025, Bajaj Auto acquired a controlling interest in BAIHAG (Bajaj Auto International Holdings AG), the entity holding the majority stake in KTM AG / Bajaj Mobility AG.

  • The Past: Previously, KTM’s financials were reported twice a year as an associate’s share of profits.
  • The Present: Starting this period, KTM/BAIHAG’s numbers are fully consolidated line-by-line into Bajaj Auto’s consolidated financials.

This added massive weight to the consolidated Automotive segment, driving segment revenue up 64.66% YoY to ₹20,799.55 crore and segment PBT up 51.50% YoY to ₹3,735.84 crore.

The Three Engines Driving Business Growth

Corporate accounting changes aside, Bajaj Auto’s core operations ran at full power across three main pillars:

1. Rebounding Export Engine 

While domestic demand remained steady, international sales shifted into top gear. Export volumes crossed 732,000 units (+54% YoY), marking the strongest export quarter in company history.

  • Latin America achieved benchmark volume highs.
  • Africa staged a dramatic comeback, with sales more than doubling YoY, led by a 3x surge in Nigeria.

2. Electric Vehicles Scaling Profitably

Electric vehicles are no longer a side experiment for Bajaj; EVs now generate nearly 30% of domestic business revenue.

  • Chetak Scooters: Hit record highs across volume, revenue, and profitability, with demand temporarily exceeding factory capacity.
  • Electric 3-Wheelers (e3Ws): Bajaj maintained its dominant position in the L5 category, with e3W revenues jumping ~80% YoY. The electric 3-wheeler business now represents nearly two-thirds the size of its legacy petrol/CNG 3-wheeler franchise.

3. High-Octane Auto Financing

Bajaj’s captive financing arm, Bajaj Auto Credit Ltd, grew alongside vehicle sales.

  • Financing Segment Revenue: Rose 84.62% YoY to ₹1,111.95 crore.
  • Financing Segment PBT: Surged 121.41% YoY to ₹303.35 crore.

Margin Defence in an Inflationary Environment

Delivering massive volume growth is one thing; protecting profitability during raw material inflation is another.

Bajaj Auto maintained an EBITDA margin of 20.9% (up +110 bps YoY and +10 bps QoQ). Three key factors protected margins:

  1. Favourable Dollar Realisation: A stronger US Dollar against the Rupee boosted export margins.
  2. Richer Product Mix: A higher proportion of premium motorcycles (Pulsar sports range, KTM, and Triumph Tracker 400) lifted average selling prices.
  3. Operating Leverage & Cost Savings: Dynamic P&L management helped offset rising input costs.

Cash generation stayed strong, with ₹2,300+ crore generated in Free Cash Flow during the quarter and surplus cash reserves standing at over ₹21,000 crore.

In Closing

Bajaj Auto’s Q1 FY27 results highlight a successfully executed strategy. The company has managed to absorb global brand acquisitions, scale its EV ecosystem profitably, and expand its export reach simultaneously. As long as export momentum holds and factory expansions unlock the supply bottleneck for Chetak electric scooters, Pune’s legacy automaker remains positioned for strong performance.