Bajaj Auto Announced Q1FY23 Result :
- Resilient revenue and strong margin improvement in a challenging operating context
- Revenue from operations at Rs.8,005 crores, was up 8% YoY led by pricing and mix
- EBITDA grew at 15% YoY, with margin improving by 100 bps despite supply constraints, cost headwinds and a weak macro-economic context.
- Judicious price increases, better foreign exchange realization and a favorable mix offset the material cost inflation and enabled margin improvement.
- A significant milestone was delivered on the commitment to invest in the EV business - a new state-of- the-art plant was commissioned under Chetak Technology Limited in June 2022
- A strong track record of cash generation was sustained; surplus cash stood at Rs 20,509 crores as on 30th June 2022 (vs. Rs 19,090 crores as on 31st March 2022)
- Given the confidence on the cash generating ability and strong Balance Sheet position announced a buyback of equity shares upto Rs 2,500 crores under the open market through the stock exchange route