Bajaj Auto Q4 PAT flat at Rs1,525cr as exceptional gains offsets lower top line revenues in Q4

29 Apr 2022 , 12:41 AM

Bajaj Auto Ltd reported -7.23% lower total sales revenues yoy for the Mar-22 quarter on consolidated basis at Rs7,974.84cr. On a sequential basis, revenues were lower for the quarter by -11.6%.

For the full year FY22, the revenues were higher by 19.5% at Rs33,145cr. On a yoy basis, the volumes two wheelers were down by -30% at 339,100 units sold in Q4 FY2022 compared to 487,731 units sold in Q4 of FY21.

The domestic sales of CVs were up 8% in the quarter at 50,055 units. Hence the overall domestic sales were down -27% on acute chip shortage impacting production and delivery schedules.

On the exports, the two wheeler exports still fell by -7% at 519,991 units while the exports of CVs fell -11% at 67,505 units. Overall exports fell by -8% and reduced the effect of the domestic slowdown  caused by the chip shortage. Supply chain challenges continue to be severe.

The consolidated net profit for Q4 was down -1.62% at Rs1,526.16cr while it was up on a sequential basis by 6.75%. Due to a spike in input costs and other supply chain bottlenecks, the EBITDA fell by -10% to Rs1,396cr while the EBITDA margins compressed yoy from 18.1% to 17.5%.

The export realizations improved on account of positive impact of price hikes, deferral of raw material cost hikes and favourable sales mix. The profits include an exceptional gain of Rs315cr towards accrual of incentives receivable from the government of Maharashtra. Net margins stood at 19.14% in Mar-22 quarter compared to 18.04% in Mar-21. NPM was higher sequentially compared to 15.85% in Q3.

Financial highlights for Mar-22 compared yoy and sequentially

	Bajaj Auto Ltd
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 7,974.84	₹ 8,596.10	-7.23%	₹ 9,021.65	-11.60%
EBIT (Rs cr)	₹ 1,957.04	₹ 1,960.74	-0.19%	₹ 1,790.15	9.32%
Net Profit (Rs cr)	₹ 1,526.16	₹ 1,551.28	-1.62%	₹ 1,429.68	6.75%
Diluted EPS (Rs)	₹ 52.80	₹ 53.60		₹ 49.40
EBIT Margins	24.54%	22.81%		19.84%
Net Margins	19.14%	18.05%		15.85%