Brokerages lift Bajaj Auto outlook after FY2026 Q1 margin beat, focus turns to exports and new launches
AI Market Summary
Bajaj Auto reported a strong FY26 Q1 with net profit up 45.9% YoY and revenue up 65%, while EBITDA margin expanded 10 bps sequentially despite commodity cost headwinds. Brokerages raised target prices and earnings estimates, citing export recovery, resilient domestic demand, robust free cash flow, and an active launch pipeline. The stock has outperformed the Nifty 50 year-to-date, keeping sentiment constructive toward Indian autos.
Impact level
● Low
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● Neutral
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Bajaj Auto reported FY2026 Q1 results with consolidated net profit up 45.9% year on year to Rs 3,225.63 crore and revenue from operations rising 65% to Rs 21,688.83 crore. The company’s EBITDA margin expanded 10 basis points sequentially, prompting multiple brokerages to raise target prices and EPS forecasts. Motilal Oswal upgraded the stock to ‘Buy’, while Jefferies kept a ‘Hold’ rating but raised earnings expectations. Management said monthly export volumes are expected to reach around 2.5 lakh units from the second quarter onward, according to brokerages.
