Bajaj Auto Limited (BAJAJ-AUTO) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 16, 2026 4 min read

Bajaj Auto enters its Q1 FY 2026-2027 results following a record-breaking fiscal year, with investors focused on whether the company's export-led growth can sustain its momentum against a challenging commodity landscape. The upcoming print will be closely watched for the margin impact of record-high input costs and the effectiveness of recent product refreshes in reviving domestic market share.

Quick Details

Results date	July 21, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 16,005.65 Cr
Previous quarter PAT	Rs. 2,746.13 Cr
Previous quarter EBITDA margin	20.8%
Market cap	Rs. 288,872.22 Cr
CMP	Rs. 10,335.4

Bajaj Auto Limited Q1 Results Date and Time

The board will meet on 21 July 2026 to consider unaudited results for Q1 FY27.

What to expect from Bajaj Auto Limited's Q1 FY27 results

Bajaj Auto's Q1 FY27 performance is defined by a significant export surge, with volumes of 7,32,173 units (+54% YoY) comfortably exceeding domestic volumes of 7,06,078 units. While operating leverage from this 29% total volume growth provides a tailwind, margins face pressure from a 3.5% to 4% commodity inflation headwind, particularly with natural rubber prices hitting an all-time high of Rs. 267/kg in June 2026. Management's ability to offset these costs through pricing actions and the benefit of a 10-13% YoY rupee depreciation against the USD will be the primary drivers of the quarterly EBITDA margin. The upcoming call will likely focus on the sustainability of the 244k monthly export run rate and the early impact of new Pulsar model launches on domestic market share.

Key Things To Watch

Performance vs Guidance Tracking: Monitoring key operational targets set in previous quarters against Q1 results.

Export monthly run rate — 220,000+ units — Exceeded with ~244,058 units/month average in Q1
Domestic motorcycle industry growth — 7-9% — Q1 domestic volume growth of 11% tracked near the upper end of guidance
Commodity inflation impact — 3.5-4% of revenue — Materiality of this headwind and pricing offset realization to be confirmed

Operating metric trajectory: Key segment KPIs and volume trends.

Export growth of 54% YoY drove the total volume to 14,38,251 units, significantly outpacing the 11% domestic growth
EV retail sales reached 43,306 units in June 2026, maintaining a strong market position
Spares business revenue remains a recurring support, historically running at Rs. 1,700-1,800 Cr per quarter

Strategic execution and capex: Updates on product and capacity initiatives.

Evaluation of quantum expansion for Chetak production capacity beyond the 50,000 units/month milestone
Progress on the KTM AG turnaround plan with results expected in the latter part of 2026
Capex outflow for Q1 FY27 expected to align with the revised annual guidance of Rs. 600-700 Cr

Risks and headwinds to monitor: Factors impacting margin and demand stability.

Extreme commodity inflation, specifically natural rubber at Rs. 267/kg and elevated mild steel prices
Management-noted demand softening in April 2026 due to inflation and LPG shortages
Potential future cost impact of Rs. 2,000-Rs. 3,000 per unit if ABS norms are mandated

Frequently Asked Questions

How did Bajaj Auto's export performance compare to its guidance in Q1 FY27?

Bajaj Auto's exports reached 7,32,173 units in Q1, achieving a monthly average of approximately 244,058 units. This performance comfortably exceeded the management-guided run rate of 220,000+ units per month.

What is the status of the commodity inflation headwind mentioned by management?

Management guided for a 3.5% to 4% impact on revenue due to commodity inflation in Q1 FY27. Key inputs like natural rubber reached all-time highs of Rs. 267/kg in June 2026, validating the pressure on input costs.

Is Bajaj Auto's rapid growth in its credit subsidiary sustainable?

Bajaj Auto Credit Ltd (BACL) achieved a PAT of Rs. 665 Cr in FY26 with an AUM of nearly Rs. 19,000 Cr. Management has confirmed that no further capital infusion is needed, as the business is expected to fund its own growth through low-cost digital operations.

What is the progress on the KTM turnaround plan?

The turnaround plan for KTM AG is in its early stages, focusing on portfolio priorities and cost rationalization. Management expects the results of these efforts to become visible in the latter part of 2026.