Bajaj Auto Q1 FY27: Standalone Profit Up 42%, August Sales

Bajaj Auto Limited reported Q1 FY27 results for the quarter ended 30 June 2026 on 21 July and August sales on 1 September. Q1 FY27 numbers: Standalone revenue: Rs 17,244 crore, up 37% YoY, a record; EBITDA Rs 3,596 crore, up 45%; margin 20.9%, up 110 bps Standalone PAT: Rs 2,983 crore, up 42% YoY from Rs 2,096 crore Consolidated: revenue Rs 21,688.83 crore, up 65%, now including KTM; PAT to owners Rs 3,225.63 crore, up 45.9%, down 11.9% QoQ on a KTM accounting gain in Q4 Volumes 14.38 lakh, up 29%; exports up 54% August 2026: total sales 5,35,764 units, up 28% YoY; domestic 2,55,708, up 10%; exports 2,80,056, up 51%. A Rs 5,633 crore buyback closed in late August. Bajaj Auto [][***** shares trade at Rs 11,997 on the linked page (2 Sep 2026, 03:10 PM IST), down 1.5 percent today; NSE closed at Rs 12,361 on 1 September. Up 39 percent over one year, near the 52-week high. P/E 28.5, PEG 0.6. My view: the rare print this season where price follows earnings instead of running ahead. Standalone growth is broad, domestic two-wheelers, exports, premium and EV all contributing, with margin up while volumes grew 29 percent. Two caveats: the consolidated 65 percent is KTM consolidation, not comparable; and export-led growth carries currency and commodity risk. At 28.5x near lifetime highs the entry is not cheap; the hold is comfortable, more than most names offer. Fresh entry on pullbacks, not the sales headline. Levels: Rs 11,876, today's low, is near support; below it the mid-August base of Rs 11,580 to 11,770; Rs 12,470, the 1 September high, is the level to clear. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.