Bajaj Auto Q2 net seen up at Rs 841.9cr: Motilal Oswal

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26 Aug, 2025 12:21

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Motilal Oswal has come out with its July-September quarter earnings estimates for the automobile sector. The brokerage house expects Bajaj Auto to report a 13.8 percent growth quarter-on-quarter (growth of 0.6 percent year-on-year) in net profit at Rs 841.9 crore.

Sales are expected to increase by 8.6 percent Q-o-Q (up 10.2 percent Y-o-Y) to Rs 5704.2 crore, according to Motilal Oswal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 18.8 percent Q-o-Q (down 2.9 percent Y-o-Y) to Rs 1098.7 crore.

Motilal Oswal of Bajaj Auto:

Expect Q2FY15 volumes to grow 9.8 percent Y-o-Y (+6.8 percent Q-o-Q) to 1.05m units. This will be led by an expected 32 percent growth in exports and narrowing of decline in domestic segment to 6 percent (v/s 11 percent in Q1).

We expect realizations to improve 1.7 percent Q-o-Q (+0.4 percent Y-o-Y) as the overall share of 3W volumes has increased from 13 percent in Q1 to 17 percent in Q2 (v/s 11.7 percent in Q2FY14).

EBITDA margin to improve 170bp Q-o-Q to 19.3 percent (v/s 21.9 percent in Q2FY14) driven by operating leverage and higher share of 3Ws.

Expect PAT to remain largely flat at INR 8.4 billion (13 percent rise Q-o-Q).

We upgrade FY15E/FY16E EPS by 0.5 percent/1 percent as we increase our volume and margin assumptions on revival of demand in the domestic business coupled with continued healthy growth in exports.

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