Bajaj Auto Q1FY23 PAT flat at Rs1,163 crore as inventory efficiency gains offset input inflation

27 Jul 2022 , 09:11 AM

Bajaj Auto Ltd, reported 8.38% growth in total revenues yoy for the Q1FY23 quarter on consolidated basis at Rs8,005 crore. On a sequential basis, revenues were up for the quarter by 0.38%.

For Q1FY23, The top line gained from judicious price increases and favourable mix of assets, apart from better foreign exchange realization.

Bajaj has just commissioned a state of the art plant for the EV business, under the Chetak brand name. On a yoy basis, domestic two-wheeler volumes were down 8% while 2-wheeler export volumes were down 4%.

Domestic CV business saw a 163% jump in the quarter on a yoy basis. Overall, the 2-wheelers volumes were down 6% while CV volumes were down 19%.

It has a cash chest in excess of Rs20,250 crore. In export markets, ASEAN and LATAM markets led the way.

The consolidated net profit for Q1FY23 was flat at Rs1,163.33 crore while it was down on a sequential basis by -23.77%. The EBITDA for the June quarter was up 15% yoy at Rs1,328 crore while the EBITDA margins improved by 100 bps from 15.6% to 16.6%.

The order book of the EV launch of Chetak has already started filling up and is expected to reach robust levels in next few months. Net margins were 14.53% in Q1FY23 quarter compared to 15.84% in Q1FY22. NPM was lower as compared to 19.14% in Q4FY22.

Financial highlights for Jun-22 compared yoy and sequentially

	Bajaj Auto
Rs in Crore	Jun-22	Jun-21	YOY	Mar-22	QOQ
Total Income (Rs cr)	₹ 8,004.90	₹ 7,386.04	8.38%	₹ 7,974.84	0.38%
Net Profit (Rs cr)	₹ 1,163.33	₹ 1,170.17	-0.58%	₹ 1,526.16	-23.77%
Diluted EPS (Rs)	₹ 40.20	₹ 40.50		₹ 52.38
Net Margins	14.53%	15.84%		19.14%