Bajaj Auto Limited Q2  FY17 Results

• 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