Bajaj Auto Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 19 Aug 2026 | Automobiles | Market Cap: ₹3.2L Cr
Domestic Motorcycle Industry Growth:** Expected to sustain 12-15% growth in the near term, with 125cc+ segment growing faster, particularly 150cc+. Bajaj Auto expects sustained growth momentum in exports with a target of 200,000+ units monthly in Q4 and continued double-digit growth in key markets.
From Bajaj Auto's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹11,700
Market Cap
₹3.2L Cr
P/E Ratio
27.3
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Compare Bajaj Auto against every Automobiles company this quarter on revenue, margins and earnings-call signals.
Bajaj Auto — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹17.8K Cr, net profit ₹3.5K Cr.
Full financials →📊 Revenue & Sales Performance
- →**Domestic Motorcycle Industry Growth:** Expected to sustain 12-15% growth in the near term, with 125cc+ segment growing faster, particularly 150cc+.
- →**Bajaj’s Domestic Volume Growth:** Aim to move from low single digits to double-digit growth, driven by product refreshes, especially in the Pulsar 150cc+ portfolio with multiple new launches underway.
- →**Export Business:** Targeting 200,000+ units monthly run rate in Q4, close to previous peak; export revenues grew ~20% YoY recently; expected to continue broad-based growth across 108 countries.
- →**Electric Vehicle Sales:** Rapid scale-up with ~40% quarter-on-quarter growth; Electric 3-wheelers significantly contribute with higher ASPs.
- →**Spares Business:** Growth at 18% YoY, positive outlook continues.
- →**KTM and Triumph Brands:** Expected to grow steadily with expanded dealerships and brand activations.
- →**Overall Revenue:** Achieved record quarterly revenue and volumes; outlook remains positive with double-digit growth aspirations supported by favorable market conditions and product strategy.
📈 Profitability & Margins
- →Bajaj Auto expects sustained growth momentum in exports with a target of 200,000+ units monthly in Q4 and continued double-digit growth in key markets.
- →Domestic motorcycle industry growth is projected at 12-15% in the near term, driven by the 125cc+ and especially 150cc+ segments.
- →The company is actively refreshing its Pulsar portfolio with multiple new product launches to regain and grow market share.
- →Cost inflation pressures (50-60 bps) are partly offset through pricing actions, currency tailwinds, and operational levers.
- →EBITDA margins expanded sequentially and year-on-year, supported by currency, operating leverage, and PLI benefits.
- →Electric vehicle business is scaling rapidly, contributing to revenue and margin improvement, with over 25% of domestic revenue.
- →The company has absorbed GST hikes and incentive withdrawals prudently to maintain competitiveness and volume growth.
- →Overall outlook is optimistic with a focus on sustained revenue and margin expansion and best-ever profitability benchmarks.
🏗️ Capital Expenditure Plans
- →Bajaj Auto is prioritizing significant product development, including a new 125cc bike launch planned for the current year to strengthen presence in the 125cc segment.
- →There are plans to expand the Dominar brand portfolio internationally and possibly introduce new or dormant brands, indicating strategic investment in brand and product portfolio expansion.
- →Ongoing investments are focused on scaling the electric vehicle (EV) portfolio, including electric 2-wheelers and 3-wheelers, with efforts toward profitability and introducing swappable battery options.
- →Bajaj Mobility (including KTM AG) is undergoing a turnaround plan involving organizational restructuring, cost reduction, and synergies to enhance long-term competitiveness.
- →Bajaj Auto's subsidiary, Bajaj Auto Finance (BACL), has recently received a final capital infusion (~INR 300 crores) to strengthen its digital-first, low-cost financing platform.
- →Expansion of KTM-Triumph joint showrooms from 50 to over 100 by March illustrates investment in dealer network enhancement.
💰 Fundraising & Capital Structure
- →The last capital infusion into Bajaj Auto's captive finance subsidiary BACL was in October, amounting to about INR 300 crores, classified as Tier 2 capital.
- →This infusion is expected to be the final one needed, and there is no mention of any immediate future fundraising through equity or debt in the call.
- →The company highlighted managing liquidity and unlocking it as part of the KTM turnaround plan but did not specify any new fundraising plans.
- →Overall, Bajaj Auto does not indicate any current or near-term plans for raising debt or equity funding based on the provided transcript.
📋 Order Book & Pipeline
Key Metrics
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Frequently Asked Questions
What were Bajaj Auto Q3 FY26 results?
Domestic Motorcycle Industry Growth:** Expected to sustain 12-15% growth in the near term, with 125cc+ segment growing faster, particularly 150cc+. Bajaj Auto expects sustained growth momentum in exports with a target of 200,000+ units monthly in Q4 and continued double-digit growth in key markets.
What is Bajaj Auto share price analysis?
Bajaj Auto currently shows a neutral. The stock trades at a P/E of 27.3 with a market cap of ₹321,520 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bajaj Auto planning capital expenditure?
Bajaj Auto is prioritizing significant product development, including a new 125cc bike launch planned for the current year to strengthen presence in the 125cc segment.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.