Quote on Bajaj Auto - Q1 FY25 Results by Arun Agarwal, VP-Fundamental Research, Kotak Securities
Below the Quote on Bajaj Auto – Q1 FY25 Results by Arun Agarwal, VP-Fundamental Research, Kotak Securities
Revenue grew by ~16% Y-o-Y supported by volume growth, higher average selling price (ASP) and sharp increase in other operating income. ASP improved Y-o-Y, both in domestic and export market. Other operating income growth was on account of accrual of PLI. Gross profit and EBITDA per vehicle improved yoy and qoq in Q1FY25. Domestic two-wheeler industry volumes is expected to witness 7-8% CAGR over FY24-27E. Overall, the company reported healthy yoy growth in revenue and operating profit during the quarter.
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