Bajaj Auto Limited delivered exceptional third quarter performance for FY26, setting new benchmarks across revenue, profitability, and sales volumes. The automotive manufacturer reported record-breaking financial results that underscore its strong market position and operational excellence.

Financial Performance Highlights

The company's standalone financial results for Q3FY26 demonstrated robust growth momentum across all key metrics. Revenue from operations reached ₹15,220.33 crore, marking the first time the company crossed the ₹15,000 crore milestone in a single quarter.

Performance vs Analyst Estimates

The company's Q3FY26 results showed mixed performance against analyst expectations, with some metrics slightly below estimates while others exceeded projections.

Nine-Month Performance

For the nine months ended 31 December 2025, Bajaj Auto maintained its strong performance trajectory with consistent growth across financial parameters.

Volume Performance and Market Leadership

Bajaj Auto achieved record quarterly sales volumes of 13,41,252 units in Q3FY26, representing a 10% year-on-year increase from 12,24,472 units in Q3FY25. The company demonstrated strong performance across all business segments:

The export business particularly stood out, crossing 600,000 units in quarterly volumes after 15 quarters, with robust double-digit growth in Africa and Asia markets.

Profitability and Margin Expansion

The company's EBITDA reached ₹3,160.00 crore with margins expanding to 20.77%, reflecting effective cost management and operational efficiency. This represents a 62 basis points year-on-year improvement from 20.15% in Q3FY25, surpassing analyst estimates of 20.50%.

Profit before exceptional items stood at ₹2,548.70 crore for Q3FY26, compared to ₹2,108.73 crore in Q3FY25, demonstrating the underlying strength of the business operations.

Exceptional Items and Regulatory Impact

The company recognized an exceptional expense of ₹61.32 crore related to employee benefit obligations following the Government of India's notification of new Labour Codes on 21 November 2025. This one-time impact was partially offset by a corresponding deferred tax asset of ₹15.43 crore.

Business Segment Performance

Bajaj Auto's diversified portfolio delivered strong results across all segments. The domestic motorcycle business achieved its biggest quarter on 125cc+ models with double-digit revenue growth, while the electric vehicle portfolio contributed 25% of domestic revenues. The KTM and Triumph partnership accelerated momentum with approximately 50% year-on-year growth in domestic volumes and revenue.

Commercial vehicles maintained their upward trajectory, delivering approximately 80,000 units with over 50% year-on-year growth, while Chetak electric scooters registered all-time high performance with approximately 70% quarter-on-quarter growth.

Bajaj Auto 's Chief Financial Officer has disclosed that the company's sales in Nigeria are currently operating at 50% of their peak market performance levels.

Current Market Performance

The CFO's statement provides insight into Bajaj Auto's ongoing market position in Nigeria, one of the company's key international markets. The reported sales level indicates that the company's Nigerian operations are performing at half their historical peak capacity.

Market Context

Nigeria represents an important market for Bajaj Auto's international expansion strategy. The current sales performance at 50% of peak levels reflects the market dynamics affecting the company's operations in this region.

The CFO's disclosure provides stakeholders with transparency regarding the company's performance in this significant international market segment.