Achieved 10% CAGR in last 10 years: Bajaj Auto

"After the announcement of corporate results for FY20, Bajaj Auto has emerged as the largest 2/3-wheeler manufacturer in the country measured in terms of revenue. The company has clocked a CAGR of 10 percent over the last decade (2010 – 2020), with revenues moving up from Rs 11,509 crore in 2009-10 to Rs 29,919 crore in 2019-20," Bajaj Auto said in the release.

This achievement is testimony to the company's unwavering focus and relentless pursuit of its three pronged strategy –- using its R&D to develop innovative products and create differentiated brands; building a global business and leveraging principles of TPM to simplify operations and deliver top class quality, said company's Executive Director Rakesh Sharma.

"Despite the uncertainties surrounding the immediate future, we are confident that our strategic path will serve our ambitions of global leadership and business success," he added.

The company continues to leverage its R&D prowess to deliver meaningful innovation and differentiated value propositions to customers in the mass commuter segments, the company said.

In the last 12 months, it has rolled out new models such as Platina H-gear and the CT110 besides increasing its leadership market share of the intra-city business unit comprising the RE, Maxima and Qute brands of 3-wheelers and quadricycles.

“Our reach in global markets coupled with a diverse and evolving product portfolio has helped us de-risk our business as we are not overtly reliant on any one geography or product. Consequently, our revenues and profits are not dependent on any specific sets of products or geography," CFO Soumen Ray said.

"Our strong operating performance is a combination of our export performance, product mix and forex, which allow us several levers to protect our industry leading margin," Ray added.

Bajaj Auto, which accounts for over 50 percent of the country's 2-wheeler and 3-wheeler exports, said that 47 percent of its production was consumed in the overseas markets in the previous fiscal across over 79 countries.

The company's growth and presence in the domestic and international markets have been on the back of its own brands as well its alliance with KTM, the company said in the release.