Bajaj Auto delivered a strong financial performance in the second quarter of FY27, supported by rising overseas demand, higher vehicle sales and expanding electric-vehicle volumes. Consolidated net profit increased to ₹3,436.10 crore from ₹2,122.03 crore a year earlier, while consolidated revenue from operations reached ₹25,125.56 crore, according to the company’s results reported on October 27, 2026.
The performance was driven by a 41% increase in exports and growth across two-wheelers, three-wheelers and electric vehicles. Total vehicle sales rose approximately 20% to 1.55 million units. However, expenses also increased significantly as production expanded and raw-material costs rose, making export momentum, operating margins and the sustainability of EV growth important factors to watch in the coming quarters.
Key Takeaways
- Consolidated net profit: Increased 62% year over year to ₹3,436.10 crore.
- Consolidated revenue: Rose 59% to ₹25,125.56 crore.
- Standalone performance: Net profit grew 35% to ₹3,353.76 crore, while revenue increased 34% to ₹20,003.43 crore.
- Exports: Total export billings rose 41% to 778,528 units.
- Electric vehicles: EV volumes approached 200,000 units and accounted for approximately one-third of domestic revenue.
- Total sales: Vehicle volumes increased 20% to around 1.55 million units.
- Operating performance: EBITDA grew 37% year over year, while favorable currency movements and operating leverage helped support margins.
Bajaj Auto Q2 FY27 Results: Financial Highlights
The quarter ended September 30, 2026, produced strong growth in both consolidated and standalone financial performance. The distinction between the two is important because consolidated results include subsidiaries and other consolidated businesses, while standalone figures reflect the parent company’s individual financial statements.
Consolidated results
| Financial metric | Q2 FY27 | Q2 FY26 | Year-over-year change |
|---|---|---|---|
| Revenue from operations | ₹25,125.56 crore | ₹15,734.74 crore | +59.7% |
| Net profit | ₹3,436.10 crore | ₹2,122.03 crore | +61.9% |
| Total expenses | ₹21,107.36 crore | ₹12,677.41 crore | +66.5% |
| Total vehicle sales | 15.49 lakh units | 12.90 lakh units | +20% |
Source: Business Standard and company-result reports. Figures are rounded where appropriate.
Revenue increased faster than vehicle volumes, reflecting the contribution of exports, pricing, product mix and the company’s consolidated business structure. Expenses also rose sharply, reflecting higher production levels and raw-material costs.
Standalone results
| Financial metric | Q2 FY27 | Q2 FY26 | Year-over-year change |
|---|---|---|---|
| Revenue from operations | ₹20,003.43 crore | ₹14,922.05 crore | +34.0% |
| Net profit | ₹3,353.76 crore | ₹2,479.00 crore | +35.3% |
| Profit before tax | ₹4,457.49 crore | Approximately ₹3,300 crore | +35% |
Source: Autocar Professional and Reuters. Prior-period profit before tax is rounded.
Standalone revenue crossed ₹20,000 crore for the first time, marking a significant milestone for the company’s core operations. Consolidated revenue was higher because it includes the contribution of subsidiaries and other consolidated businesses.
Exports Drive Bajaj Auto’s Growth
Exports were one of the biggest contributors to the quarter’s performance. Total export billings across two-wheelers and commercial vehicles increased approximately 41% year over year to 778,528 units.
| Export metric | Q2 FY27 volume | Year-over-year change |
|---|---|---|
| Total exports | 778,528 units | +41% |
| Two-wheeler exports | 676,545 units | +43% |
| Commercial vehicle exports | 101,983 units | +26% |
International demand helped offset relatively modest growth in domestic two-wheeler volumes. Africa nearly doubled its billing over the year-ago quarter, reaching a new high, while Latin America recorded its strongest sales to date, according to Business Standard.
Reuters also reported that favorable currency movements helped Bajaj Auto expand operating profit margins by 40 basis points. A stronger export mix can support revenue and profitability, although foreign-exchange movements, logistics disruptions and economic conditions in individual markets can affect future performance.
Electric Vehicles Become a Larger Growth Engine
Bajaj Auto’s electric portfolio, which includes Chetak electric scooters and electric three-wheelers, recorded another strong quarter. EV volumes approached 200,000 units, compared with approximately 62,000 units in Q2 FY26, according to Financial Express.
The electric portfolio now accounts for around one-third of domestic revenue. Chetak quarterly revenue crossed ₹2,000 crore as scooter volumes more than doubled year over year, despite supply constraints.
| EV performance indicator | Q2 FY27 |
|---|---|
| Electric-vehicle volumes | Nearly 200,000 units |
| Comparison with Q2 FY26 | Approximately 62,000 units |
| Share of domestic revenue | Around one-third |
| Chetak quarterly revenue | More than ₹2,000 crore |
The growth indicates that electric mobility is becoming increasingly important to Bajaj Auto’s domestic business. However, continued expansion will depend on production capacity, component availability, pricing, competition and consumer demand.
Domestic Sales and Vehicle Volumes
Total vehicle sales rose approximately 20% to 1.55 million units. Domestic sales increased about 4% to 770,356 units, while exports grew much faster.
Two-wheelers remained the company’s largest volume category, with sales increasing 20% to approximately 1.28 million units. Commercial vehicle volumes rose 18% to 264,923 units.
| Vehicle category | Q2 FY27 sales | Year-over-year change |
|---|---|---|
| Total two-wheelers | 12.84 lakh units | +20% |
| Total commercial vehicles | 2.65 lakh units | +18% |
| Domestic sales, all categories | 7.70 lakh units | +4% |
| Exports, all categories | 7.79 lakh units | +41% |
The numbers highlight an important feature of the quarter: international markets contributed more to volume growth than the domestic market. India’s two-wheeler market remained supportive, but domestic demand grew more slowly than exports.
Expenses, Margins and Profitability
Bajaj Auto’s revenue growth was accompanied by higher expenses. Consolidated expenses increased to ₹21,107.36 crore from ₹12,677.41 crore in the same quarter last year, reflecting higher production volumes and raw-material costs.
Despite these pressures, the company benefited from operating leverage, cost management, pricing measures and favorable currency movements. Reuters reported a 40-basis-point improvement in operating profit margins, while company-result coverage indicated that EBITDA grew 37% year over year.
The distinction between revenue growth and profit growth remains important. Higher sales do not automatically translate into proportionate profit gains if manufacturing costs, freight, components or other expenses rise. Bajaj Auto’s ability to preserve margins while expanding production will therefore remain a key indicator of operating performance.
What Bajaj Auto’s Q2 Results Mean for the Business
The results show that Bajaj Auto is benefiting from multiple growth drivers rather than relying solely on domestic motorcycle sales. Exports provide geographic diversification, the commercial vehicle business adds another source of volume, and electric vehicles are becoming a larger part of domestic revenue.
There are risks to monitor. Export demand can fluctuate with economic conditions and currency movements, while EV expansion depends on supply-chain reliability and competition. Higher expenses could also constrain profit growth if the company cannot offset cost increases through pricing and operating efficiencies.
The quarter establishes a strong performance baseline, but subsequent results will show whether the company can sustain its export momentum and maintain profitability as volumes rise.
The Bigger Picture
Bajaj Auto’s Q2 FY27 results illustrate how international demand and electrification are reshaping India’s two-wheeler industry. The 41% increase in exports and the rise in EV volumes to nearly 200,000 units demonstrate that both overseas markets and new powertrains are playing larger roles in the company’s business.
For investors and industry observers, the next questions are whether exports can remain strong, whether EV supply constraints ease and whether operating margins hold up as production expands. The results are a snapshot of one quarter, rather than a guarantee that the same growth rates will continue.
FAQs
1. What was Bajaj Auto’s consolidated net profit in Q2 FY27?
Bajaj Auto reported consolidated net profit of ₹3,436.10 crore for Q2 FY27, up approximately 62% from ₹2,122.03 crore in Q2 FY26.
2. What was Bajaj Auto’s standalone net profit?
Standalone net profit rose approximately 35% to ₹3,353.76 crore, compared with ₹2,479 crore in the corresponding quarter a year earlier.
3. How much did Bajaj Auto’s revenue increase?
Consolidated revenue from operations increased approximately 59.7% to ₹25,125.56 crore. Standalone revenue rose approximately 34% to ₹20,003.43 crore.
4. How did exports perform in Q2 FY27?
Total export billings increased approximately 41% to 778,528 units. Two-wheeler exports rose 43%, while commercial vehicle exports increased 26%.
5. How important are electric vehicles to Bajaj Auto?
Electric-vehicle volumes approached 200,000 units during the quarter, compared with about 62,000 units a year earlier. The EV portfolio contributed around one-third of domestic revenue.
Looking Ahead
Bajaj Auto’s next-quarter performance will depend on whether strong export demand continues, EV production expands beyond current supply constraints and the company manages higher input costs without sacrificing margins. The company’s performance in Africa and Latin America, along with demand for Chetak electric scooters and electric three-wheelers, will be important indicators to monitor.
The Q2 FY27 results underline the growing role of exports and electrification in Bajaj Auto’s business. Sustaining this momentum will require continued product competitiveness, efficient operations and resilience against currency, commodity and logistical risks. Future quarterly results will help establish whether the current pace of growth can be maintained.
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