Bajaj Auto Limited Q2  FY17 Results

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  • Highest ever Turnover – ` 6,774 crore
  • Highest ever Profit after tax – ` 1,123 crore
  • Consolidated Profit after tax crosses ` 1,200 crore, first time ever

A meeting of the Board of Directors of Bajaj Auto Limited was held today to consider and approve the results for Q2 / FY17.

Bajaj Auto once again delivers its best ever Quarterly and Half yearly results.

It recorded its

Highest ever * Q2 / FY17 H1 / FY17

 Turnover : ` 6,774 crore ` 13,130 crore

 Operating EBITDA : ` 1,364 crore ` 2,591 crore

 Operating Profit : ` 1,277 crore ` 2,423 crore

 Profit before tax : ` 1,561 crore ` 2,926 crore

 Profit after tax : ` 1,123 crore ` 2,101 crore

— Operating EBITDA margin at 22.3% 21.8%

The consolidated Profit after tax, too, was the highest ever – ` 1,201 crore for Q2 / FY17 and ` 2,240 crore for H1 / FY17.

1. Volumes

Q1

FY17

Particulars Q2

FY17

Q2

FY16

% H1

FY17

H1

FY16

% FY16  
Domestic
548,880 Motorcycles 579,545 469,330 23% 1,128,425 955,148 18% 1,898,957  
75,204 CV 74,383 67,117 11% 149,587 117,832 27% 254,995  
624,084 sub-total 653,928 536,447 22% 1,278,012 1,072,980 19% 2,153,952  
Exports
323,660 Motorcycles 317,869 433,767 -27% 641,529 823,184 -22% 1,459,295  
46,989 CV 60,148 86,382 -30% 107,137 173,461 -38% 280,334  
370,649 sub-total 378,017 520,149 -27% 748,666 996,645 -25% 1,739,629  
994,733 Grand Total 1,031,945 1,056,596 -2% 2,026,678 2,069,625 -2% 3,893,581  
 


2. Motorcycle market
( domestic )

— Motorcycle sales in the domestic market grew by 23% in Q2 / FY17 as against an industry growth of 17%.

— As a result, share in domestic market improved by ~130 bps

 CT100 and Platina sold over 251,000 units in Q2 / FY17; market share ~35%.

 Sales for the newly launched “ V15 ” cross 1.6 lakh units from the date of its launch; sold over 61,000 units in Q2 / FY17.

 Pulsars, along with the recently launched Avengers, sold over 231,000 units in Q2 / FY17, a growth of 28% over Q2 / FY16.

 KTM, along with Ninja, recorded a growth of 16% in Q2 / FY17.

3. Commercial vehicles ( domestic )

Sale of 149,587 units in H1 / FY17 is the highest ever

— Commercial vehicles sales grew by 11% in Q2 / FY17 as against industry growth of 6%

— Continues to be a market leader; overall share in domestic market is ~52% as against 47% in FY16

  • Dominant share in domestic market in the In-city category; ~89%
  • Market leader in small diesel carriers; share in domestic market at ~71%
  • Share in domestic market of big diesel carriers at ~23%

4. International business

Headwind continued in international markets

However, Company continues to maintain significant market share in major international markets

— Sequentially, export volumes increased from ~370,000 units in Q1 / FY17 to over 378,000 units in Q2 / FY17

— For Q2 / FY17, the average realization was ` 67.1 / USD as against ` 65.2 / USD in Q2 / FY16 and ` 65.5 / USD in FY16

5. Financials

Standalone:-

— Despite a slowdown in exports, Company improved its operating EBITDA margin from 21.2% in Q1 / FY17 to 22.3% in Q2 / FY17.

This was achieved due to a richer product mix, especially for domestic market

— Standalone profit before tax was ` 1,561 crore v/s ` 1,506 crore in Q2 / FY16 – Highest ever

Profit after tax stood at ` 1,123 crore v/s ` 1,052 crore in Q2 / FY16 – Highest ever

Consolidated:-

— Consolidated profit after tax increased to ` 1,201 crore as against ` 1,120 crore in Q2 / FY16; Highest ever

6. Cash and cash equivalents

As on 30th September 2016, surplus cash and cash equivalents stood at ` 11,398 crore as against ` 10,701 crore as on 30th June 2016