Bajaj Auto Q4 Results: Revenue up 30% YoY, dividend declared; 5 key highlights (2024)

“The consistent growth across all quarters reflected the resilient business model, where a strong domestic performance more than made up for muted exports which continued to be impacted by the challenging context in overseas markets," said Bajaj Auto in a regulatory filing to the stock exchanges.

Also Read: Bajaj Auto Q4 net profit up 18% at ₹2,011 crore, revenue rises 30%

Here are 5 key highlights of Bajaj Auto Q4 scorecard:

1.P&L Account: Profit, Revenue:

The two and three-wheeler major's net profit rose 18 per cent to ₹2,011.43 crore in the March quarter, compared to ₹1,704.74 crore in the year-ago period. Bajaj Auto posted revenue of ₹11,249.8 crore for the January-March quarter up by 30 per cent from ₹8,660 crore during the same period last year.

The auto major's net profit surpassed the ₹2,000 crore milestone for the first time in the preceding December quarter. For the year ended March 31, 2024, the company posted a 33 per cent rise in net profit at ₹7,479 crore as against ₹5,628 crore in the FY23 fiscal. Revenue from operations rose to an all-time high at ₹44,685 crore for FY24 from ₹36,428 crore in the 2022-23 fiscal.

2.Operating Performance

On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in the March quarter surged 34.4 per cent to ₹2,307 crore, compared to ₹1,716 crore in the year-ago period.

Operating margins stood at at 19.7 per cent, up 180 basis points driven by ‘dynamic P&L management’, ‘richer product mix’ and ‘operating leverage’. At ₹8.825 crore, Bajaj Auto EBITDA registered its highest ever, growing 35 per cent YoY for the entire fiscal (2023-24).

3.Dividend

The automaker's board also approved a dividend at the rate ₹80 per share (800 percent) of face value of ₹10 each on equity shares for the financial year ended March 31, 2024, totalling to ₹2,233 crore. The dividend, if approved by the shareholders at the Annual General Meeting to be held on July 16, 2024, will be credited on or around July 19, 2024.

‘’The dividend, if declared, shall be paid to the equity shareholders whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, 14 June 2024, which is the Record Date fixed for the purpose'', said Bajaj Auto.

The final dividend, along with the recent share buyback of ₹4,932 crore, adds up to an overall payout to shareholders of more than 95 per cent of the profit after tax for the year.

Also Read: Bajaj Auto Q4 results preview: Revenue, net profit expected to grow 26% YoY; margin to improve

4.Domestic business

The auto major saw a 24 per cent rise in total sales at 10,68,576 units in the fourth quarter from 8,59,728 units in the same period of FY23. Two-wheeler sales rose 26 per cent year-on-year to 9,16,817 units as compared with 7,25,405 units in the fourth quarter last fiscal. Commercial vehicle sales rose 13 per cent to 1,51,759 units, compared to 1,34,323 units in the year-ago period.

Chetak delivered its highest quarterly volume, a level that was greater than what was sold in all of last year. Triumph accounted for 2.1 per cent of Bajaj Auto's total two-wheeler sales in the fourth quarter. Overall two-wheeler sales rose about 26 per cent in the quarter year-on-year.

The total sales in FY24 rose to 43,50,933 units, up 11 per cent, as compared with 39,27,857 units in the 2022-23 fiscal. Two-wheeler sales rose to 37,27,923 units over 34,42,839 units. The commercial vehicle sales rose to 6,23,010 units, up 28 per cent from 4,85,018 units in FY23.

5.Exports

Export revenues grew double digit YoY as it benefited from a richer mix and better realisations, although volume was flattish compared to last quarter but up ~20 per cent compared to the previous year, the YoY growth being accentuated by a soft base comparator in the base period. The 'Pulsar' bike-maker said that its domestic motorcycles delivered another share gain performance on the 125cc+ segment, registering 4X growth vs. rest of industry.

Pulsar continues to lead the way and the range strengthened by the upgraded N150/160/250, that seeks to elevate the ride experience," Bajaj Auto said in a statement. In a late evening move, Bajaj Auto moved CTO Abraham Joseph to the Chetak Technology unit as MD, with Ramtilak Ananthan taking his place as CTO.

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Published: 18 Apr 2024, 06:23 PM IST