Bajaj Auto Ltd — Q2FY27 earnings call summary

Filed 02 November 2026 · Official transcript

Outlook: inflationary pressures persist; pricing actions to be calibrated; currency volatility a potential headwind
New Pulsar launches driving share gains in 150cc+ segment; old Pulsar portfolio drag expected to flush out by Jan
Q2 FY27 volumes exceeded 1.5 million, +20% y-y; revenue surpassed INR20,000 Cr, +34% y-y; EBITDA INR4,172 Cr, +37% y-y; PAT INR3,354 Cr, +35% y-y
Multiple analyst queries on EV profitability and market share dynamics; management optimistic on leadership and growth
Capacity constraints in EVs, high-end bikes, 3-wheelers; EV capacity to expand from 60k to 80k units/month by Q4
Export growth driven by market share gains, new segments, new markets, and KTM business recovery
Commodity inflation in Q2 ~3-3.5% of revenue; calibrated pricing covered 50-60% of inflation in H1
PLI incentives on EV revenues increased to 18% in Q2; sustainability depends on cost reductions post-PLI expiry