Bajaj Auto Q2 FY26 Results: Record Profit Driven by Exports and Premium Mix

Key Highlights: Revenue: ₹15,735 crore, up 19% YoY, led by strong export recovery and higher premium motorcycle sales. Net Profit: ₹2,122 crore, up 53% YoY, marking the company’s highest-ever quarterly profit. EBITDA: Over ₹3,000 crore, with margins improving to ~20.5%, driven by better product mix and cost efficiencies. Exports: Saw strong rebound across Latin America, Africa, and Southeast Asia. Exports continue to form a major revenue contributor. Domestic Business: Stable growth in premium bikes and three-wheelers despite muted entry-level demand. EV Segment: Growth moderated due to rare earth magnet supply constraints, though management remains optimistic on long-term EV plans. Insights: Bajaj Auto’s performance highlights the success of its premiumisation strategy and diversification across geographies. Strong export recovery, margin improvement, and disciplined cost management have helped offset challenges in the domestic commuter and EV segments. What to Watch: Export momentum sustainability amid global demand fluctuations. Domestic volume recovery in entry and mid-segment bikes. Progress on EV supply chain localisation and product launches. Raw material cost trends impacting margins. Investor Takeaway: Bajaj Auto’s Q2 shows operational strength and profitability leadership in the two-wheeler space. With a robust export base, improving margins, and focus on premium and electric mobility, the company remains a solid long-term bet in India’s auto sector.