Groww Logo
Home>Blog>News>Bajaj Auto Ltd. Q3 FY22 Results

Bajaj Auto Ltd. Q3 FY22 Results

24 May 2022

Bajaj Auto released its earnings report for Q3 FY22 on January 19, 2022. The company reported a 16.7% YoY decline in its profit after tax (PAT) to Rs 1,429.6 crore from Rs 1,716.2 crore in the year-ago period. On a sequential basis, the company reported a worrying 30% QoQ loss from Rs 2,039.8 crore reported in the previous quarter.

The economy has been facing rising commodity inflation, reduced demand for two-wheelers, and a lukewarm response in the festive season. The demand for two-wheelers over the last two years has been relatively low due to the pandemic. High fuel costs, the transition to the BS-VI emission standards, and the introduction of the anti-lock braking systems amid the demand for EV two-wheelers contributed to Bajaj Auto’s worrisome performance.

Although the company has recorded an increase in its revenue from operations, it is marginal at 1.25% YoY. The revenue from operations came in at Rs 9,021 crore in the quarter under review against Rs 8,909 crore in Q3 FY21. The revenue from operations is up 3% sequentially from the Rs 8,762 crore reported in the previous quarter.

Bajaj Auto’s total income remained flat on a YoY basis with a mere 0.9% increase at Rs 9,369 crore from Rs 9,279 crore in the corresponding quarter in the last financial year. The total income grew by 3% QoQ from Rs 9,080 crore in the previous quarter.

The stock of Bajaj Auto closed in the green at Rs 3,436.8 per share after gaining 1.05% ahead of its earnings report released at the end of the intraday trading session on January 19, 2022.

Hits

  • Revenue from operations up 1.25% YoY at Rs 9,021 crore against Rs 8,909 crore in Q3 FY21
  • Revenue from operations up 3% at Rs 9,021 crore from Rs 8,762 crore
  • Total income up 0.9% at Rs 9.369 crore from Rs 9,279 crore

Misses

  • PAT down 16.7% YoY to Rs 1,429.6 crore from Rs 1,716.2 crore in the year ago period
  • PAT down 30% QoQ loss at Rs 1,429.6 crore from Rs 2,039.8 crore in the previous quarter
  • EBITDA down to 15.6% from 19.8% on a YoY basis
  • EBITDA down 20% YoY to Rs 1,405 crore from Rs 1,764 crore in the year ago period
  • Turnover remained flat at Rs 9,294 crore
  • The Earnings Per Share (EPS) declined to Rs 49.4 from Rs 70.5 in the previous quarter

Volume of sales

The company sold a total of 11.8 lakh units in the October-December quarter. On a YoY basis, this was a 10% dip from 13.06 lakh units sold in Q3 FY21. On a sequential basis, the volume of sales increased by 3.2% in Q3 FY22 from 11.4 lakh units in the previous quarter.

The sales of domestic vehicles declined 16% YoY to 5.23 lakh units from 6.19 lakh units in the corresponding quarter in the previous financial year. This is a decline of 1.6% from 5.32 lakh units sales reported in the previous quarter.

The export volume of Bajaj Auto’s vehicles increased 7.4% QoQ to 6.58 lakh units from 6.12 lakh units in the previous quarter. On a YoY basis, the exports saw a 4% dip from 6.87 lakh units in the year ago period.

Other things to know about Bajaj Auto

  • The P/E ratio of Bajaj Auto is at 20.26 which is the highest in the large-cap two-wheeler segment, while its P/B ratio is at 3.61 against the industry average of -478.24.
  • Bajaj Auto has the highest dividend yield in the two-wheeler segment at 4.12% against the industry average of 0.47% 

To read the RA disclaimer, please click here.

Do you like this edition?
LEAVE A FEEDBACK
ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 2.4.0
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  ICICI PRUDENTIAL |  HDFC |  NIPPON INDIA |  ADITYA BIRLA SUN LIFE |  SBI |  UTI |  FRANKLIN TEMPLETON |  KOTAK MAHINDRA |  IDFC |  DSP |  AXIS |  TATA |  L&T |  SUNDARAM |  PGIM |  INVESCO |  LIC |  JM FINANCIAL |  BARODA PIONEER |  CANARA ROBECO |  HSBC |  IDBI |  INDIABULLS |  MOTILAL OSWAL |  BNP PARIBAS |  MIRAE ASSET |  PRINCIPAL |  BOI AXA |  UNION KBC |  TAURUS |  EDELWEISS |  NAVI |  MAHINDRA |  QUANTUM |  PPFAS |  IIFL |  Quant |  SHRIRAM |  SAHARA |  ITI