Speaking to CNBC-TV18, S Ravikumar, President - Business Development at Bajaj Auto said that the impact of demonetisation is likely to play out in the fourth quarter of FY17 as well.
Bajaj Auto reported 4.7 percent fall in profit in the third quarter to Rs 924.6 crore as against Rs 970.6 crore in the same period last year. Revenue for the quarter decline 4.1 percent to Rs 59,500 per unit.
Speaking on specific companies, Ashwin Patil of LKP Securities believe that Maruti Suzuki will see momentum retune in future with line-up of new models. Maruti saw a 1 percent decline in sales in December.
Bajaj Auto reported a 22 percent decline in sales to 2.25 lakh units in December due to demonetisation impact. No respite is visible yet from the cash crunch, said S Ravikumar, President – Business Development at Bajaj Auto.
Rajiv Bajaj, Managing Director at Bajaj Auto does not believe its new 400cc bike Dominar is priced aggressively. In fact, he thinks the price is 'logical'.
It is tough to ascertain when sales will pick up as the demonetisation pain could continue for few more months says S Ravikumar, President - Business Development at Bajaj Auto.
Eric Vas, President of Motorcycle Business at Bajaj Auto, said that post demonetisation there has been a significant decline in the sales of 2-wheelers. It was 50 percent in rural India and 25 percent in urban areas.
Commenting on the sales performance, S Ravikumar, President — business development — at Bajaj Auto said the company saw muted sales during Dussehra but picked up in the run up to Diwali. He expects new launches lined up in November and December to boost volumes and the company is targeting 24 lakh in domestic volumes by FY17-end.
Ravikumar is confident that the drop in exports could end in the second quarter of financial year 2017. The company is going to review its export guidance of 16 lakh units for FY17 by December.
Speaking to CNBC-TV18, Ravi Chawla, MD of Guld Oil said that they have 8-9 percent share in the Bazaar market and the company expect this to increase by 1-2 percent on back of the tie-up in next 2-3 years.
Ramesh Damani‘s popular Wizards of Dalal Street is back, and this time Damani interviewed Rahul Rathi, MD & Chairman of Purnartha Investment Advisors. Rathi spoke about his two styles of investing: Invest in a business, and the other strategy is to invest in the businessman.
In an interview to CNBC-TV18, S Ravikumar, President-Business Development at Bajaj Auto spoke about their September auto sales numbers.
Speaking to CNBC-TV18 Rajiv Bajaj, MD of Bajaj Auto said industry didn't have a good run last year during Onam. The biggest issue for us is Nigeria, where were doing 40,000 motorocyles a month and now we are down to 15,000.†He said it was hard to predict what might happen.
Export markets have continued to be stressed but Egypt has seen some improvement in demand. Confident of meeting exports target of 16 lakh units in FY17, said S Ravikumar, President-Business Development, Bajaj Auto.
In an interview with CNBC-TV18, S Ravikumar of Bajaj Auto said that the company is growing at double the industry rate in the domestic segment and expects 40 percent growth in motorcycle segment in the second half of this fiscal.
Currently, the company is mainly focusing on building a future for Royal Enfield, says Siddhartha Lal, Managing Director and CEO of Eicher Motors.
Bajaj Auto reported a 3.5 percent rise in revenue to Rs 6,088.7 crore while its operating margin improved to 19.3 percent in the first quarter of FY17.
Speaking to CNBC-TV18, S Ravikumar of Bajaj Auto said while the industry grew 7 percent in the motorcycle segment, the company's grew 9 percent.
Speaking to CNBC-TV18 Vinod Aggarwal of Eicher Motors said tippers are doing brisk business for the company. He added that as domestic consumption increases, thanks to the Seventh Pay Commission hikes, it will help the commercial vehicle (CV) sector.
Vikram Mohan, Managing Director of Pricol, told CNBC-TV18 that the company is targeting a 20-25 percent revenue growth in the next few years.
In an interview with CNBC-TV18, Mihir Jhaveri, Auto Analyst, Religare Capital Markets, gave his take on May auto sales data that came out yesterday.
While sales have been improving steadily, June and July will see softer sales in domestic and export markets, says S Ravikumar, President - Business Development, Bajaj Auto.
Revenue went up 14.2 percent to Rs 5411 crore year-on-year (YoY) and net profit saw an increment of 29.2 percent to Rs 803 crore (YoY).
A sharp fall in exports, led by turmoil in Nigeria, was offset by high growth in domestic markets for the month of April for Bajaj Auto, says S Ravikumar, President, Business Development.
Bajaj Auto has laid out a healthy 300,000 target in unit sales for its three-wheeler segment in fiscal 2017, up from 254,000 it sold in FY2016.