Bajaj Auto exports its way out of a slump

bajaj auto exports its way out of a slump

Sumary of Bajaj Auto exports its way out of a slump:

  • Domestic two-wheeler sales rose 84% y-o-y, but declined almost 30% sequentially.
  • However, the strength of the company lies in exports and this cushioned its overall performance.
  • Motorcycle exports remained unchanged sequentially, despite the impact of covid in some East African and Asean nations.
  • Three-wheeler exports, too, remained strong and commercial vehicle exports grew 21.7% sequentially.
  • Thanks to the decent export volumes, overall vehicle sales were just 14% lower sequentially.
  • View Full Imagesatish kumar/mint But there was a double whammy in store, in terms of rising commodity prices and their impact on margins.
  • And given the weakness in domestic sales, the firm had limitations with regards to price hikes.
  • For instance, analysts at Motilal Oswal Financial Services Ltd expected higher exports contribution and price hikes taken earlier to dilute the impact of cost inflation and pegged Ebitda margins at 17.1%.

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