Bajaj Auto has shared its performance report “Bajaj Auto Q4 Results 2024” for the last quarter of the financial year 2023-24 (January to March), showing a significant 18% increase in its combined profit, reaching ₹2,011.43 crore. Bajaj Auto is the first among its competitors in the two-wheeler manufacturing industry to disclose its results for the March quarter. The company’s earnings during this period were mainly driven by robust demand within India for its motorcycles and a rebound in exports of its two-wheeler products.
According to a regulatory filing to the stock exchanges, Bajaj Auto credited its consistent growth throughout the year to a resilient business model, which relied on strong domestic sales compensating for weaker exports affected by challenging conditions in international markets.
Key Highlights From Bajaj Auto Q4 Results 2024:
Financial Performance:
Bajaj Auto’s net profit increased by 18% to ₹2,011.43 crore in the March quarter, compared to ₹1,704.74 crore in the same period last year. The company’s revenue for the January-March period surged by 30%, reaching ₹11,249.8 crore, up from ₹8,660 crore in the previous year.
Operational Success:
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) soared by 34.4% to ₹2,307 crore in the March quarter, compared to ₹1,716 crore in the same period last year. Operating margins also improved to 19.7%, driven by effective management of profit and loss, a better product mix, and operational efficiency. Bajaj Auto’s EBITDA for the entire fiscal year (2023-24) reached a record high of ₹8,825 crore, marking a 35% year-on-year growth.
Bajaj Auto Dividend Distribution:
Bajaj Auto’s board approved a dividend of ₹80 per share (800% of face value of ₹10 each) for the financial year ended March 31, 2024, totalling ₹2,233 crores. The Bajaj Auto Dividend, subject to shareholder approval at the Annual General Meeting scheduled for July 16, 2024, will be credited around July 19, 2024. This, along with a recent share buyback of ₹4,932 crore, sums up to more than 95% of the profit after tax distributed to shareholders for the year.
Performance in the Domestic Market:
As per Bajaj Auto Q4 Results 2024, the company witnessed a 24% increase in total sales during the fourth quarter, with two-wheeler sales rising by 26% and commercial vehicle sales by 13% compared to the same period last fiscal year. Notably, the Chetak model achieved its highest quarterly sales volume, surpassing the sales of the entire previous year. Triumph motorcycles contributed 2.1% to Bajaj Auto’s total two-wheeler sales for the quarter.
Export Growth:
Despite challenges, Bajaj Auto’s export revenues experienced double-digit growth year-on-year, benefiting from a better product mix and improved realizations. Although export volumes remained steady compared to the previous quarter, they increased by approximately 20% compared to the previous year, mainly due to a favourable comparison with a softer base period. Bajaj Auto’s domestic motorcycles, especially the ‘Pulsar’ range, continued to gain market share in the 125cc+ segment, showing a remarkable four-fold growth compared to the rest of the industry.
Analysts' Take on Bajaj Auto Q4 Results 2024
Motilal Oswal highlighted that Bajaj Auto’s recent performance boost over the past year was primarily driven by its increased market share in the 125cc+ domestic motorcycles category, along with improved profit margins and a unique shareholder reward policy.
They also mentioned that the company is planning to launch its first CNG-powered motorcycle in June. If this innovative product succeeds, it could positively impact volume estimates.
On the other hand, Choice Broking assessed the stock’s value at Rs 9,612. They emphasized that despite fluctuations, they maintain a ‘BUY’ rating on the stock as Bajaj Auto Q4 Results 2024 are good. This decision is influenced by factors such as the rising contribution of premium products like Triumph, the healthy growth in the EV portfolio, and the improving profitability of Chetak.
Bajaj Auto Q4 Results 2024 In Table Format
Here’s a table summarizing Bajaj Auto Q4 Results 2024:
| Aspect | Performance |
|---|---|
| Combined Profit Increase | 18% |
| Net Profit (March Quarter) | ₹2,011.43 crore |
| Revenue (Jan-Mar) | ₹11,249.8 crore (30% increase from the previous year) |
| EBITDA (March Quarter) | ₹2,307 crore (34.4% increase from the previous year) |
| Operating Margins | 19.7% (Improved due to effective management and better product mix) |
| Full Year EBITDA | ₹8,825 crore (35% year-on-year growth) |
| Dividend Amount | ₹80 per share (Totaling ₹2,233 crore) |
| Dividend Approval | Subject to shareholder approval at AGM on July 16, 2024 |
| Dividend Credited Date | Around July 19, 2024 |
| Share Buyback Amount | ₹4,932 crore |
| Sales Growth (Domestic) | 24% increase in total sales during the fourth quarter |
| Two-wheeler Sales Growth | 26% increase compared to the same period last fiscal year |
| Commercial Vehicle Sales Growth | 13% increase compared to the same period last fiscal year |
| Notable Achievement | Chetak model achieved its highest quarterly sales volume |
| Export Revenue Growth | Double-digit growth year-on-year |
| Export Volume Increase | Approximately 20% increase compared to the previous year |
| Market Share Gain | Pulsar range showed a remarkable four-fold growth in the 125cc+ segment |
This table provides a clear overview of Bajaj Auto’s performance across various financial and operational metrics in the last quarter of FY 2023-24.
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