A meeting of the Board of Directors of Bajaj Auto Limited was recently concluded to consider and approve the results for Q3 / FY21, in which Bajaj clocked some stellar numbers.
The biggest highlights of Q3/FY21 for Bajaj were:
Turnover: INR 9,279 crore
Revenue from operations: INR 8,910 crore
Profit after tax: INR 1,556 crore
Q3 / FY21 has been a record quarter for the Company – highest ever Turnover which for the first time ever exceeded INR 9,000 crore, highest ever Profit before tax which for the first time ever exceeded INR 2,000 crore, highest ever Profit after tax to over INR 1,500 crore and an expansion in operating EBITDA margin to 19.8% driven by higher operating leverage and better product mix.
As on 31st December 2020, surplus cash and cash equivalents stood at INR 16,891 crore as against INR 16,240 crore as on 30th September 2020 and INR 14,322 crore as on 31st March 2020.
Bajaj Pulsar sold over 420,000 units in domestic and export markets, the highest ever for the motorcycle. Boxer sold over 380,000 units in various international markets, again, the highest ever. Exports were over 687,000 units, again the highest ever. This was despite a shortage of containers. The overall share in the domestic motorcycle market for Bajaj Auto Ltd. was 18.6% in Q3 / FY21 as against 17.5% in Q2 / FY21 and 18.5% in FY20. Also, the domestic two-wheelers continued to grow on the back of robust demand for Bajaj Pulsar, Bajaj Dominar, KTM and the Husqvarna.
Bajaj Pulsar125 also witnessed strong traction with sales of over 164,000 units; growth of 32% over Q2 / FY21; market share for Pulsar125 in its segment has grown to 22.8% for Q3 / FY21. The Domestic CV business remains impacted due to inadequate demand for short-distance mobility
On 22nd December 2020, an MoU was signed between the Government of Maharashtra and Bajaj Auto Ltd, to set up a new manufacturing facility at Chakan, Maharashtra for the manufacture of high-end motorcycles and electric vehicles, at a proposed investment of INR 650 crore. This new facility is expected to commence production in the year 2023.