For the full year, revenue from operations was at its highest ever — Rs 36,428 crore, up 10 per cent despite the constrained supplies early on and particularly challenging overseas markets for most part of the year. Overall exports dipped 41 per cent, while Ebitda was up 25 per cent YoY for FY23 and PAT grew 12 per cent to Rs 5,628 crore.
Riding on the Pulsar portfolio and Platina 110 ABS, the domestic motorcycle sales continue to do well. Three-wheeler sales crossed the 100,000-unit milestone for the first time since the pandemic. Bajaj Auto said they have witnessed a strong rebound to pre-Covid-19 levels (of over 100 per cent) compared to about 45 per cent for the rest of the industry.
“We feel that demand in these countries have bottomed out in the fourth quarter, and in Q4 the retail demand is better than Q3 retail demand. However, dollar availability remains a challenge in these markets and their central banks maintain a cautious outlook,” he said. Therefore, Bajaj Auto feels that after a quarter or so, the picture will be clear.
Meanwhile, building on the work done on the electric vehicle supply chain, Chetak has commenced its scale-up phase and retail sales have touched 5,600 units or so in March. Chetak has bookings for 7,800 units. By mid-June, the Chetak unit sales are likely to get to the 10,000-mark.
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