Bajaj Auto Q3 Preview: PAT may climb up to 21.3% to ₹2,558 cr YoY; Rev 21%
Bajaj Auto Q3 Preview: The two wheeler giant is likely to announce it December quarter (Q3FY26) results on Friday, January 30, 2026.
 "Bajaj Auto Q3 Preview: PAT may climb up to 21.3% to ₹2,558 cr YoY; Rev 21%")
Bajaj Auto Q3 Preview: Two-wheeler giant Bajaj Auto is likely to announce its December quarter (Q3) of financial year 2026 (FY26) results on Friday, January 30, 2026.
The company is expected to deliver a strong Q3FY26 show, aided by robust export demand, favourable currency movements, and steady recovery in premium motorcycle volumes.
Most brokerages project double-digit revenue and profit growth year-on-year (Y-o-Y), aided by higher realisations and operating leverage. However, margin trends remain mixed, with benefits from exports and pricing partially offset by higher raw material costs and an unfavourable product mix.
While volume growth expectations vary, analysts broadly remain constructive on earnings momentum, particularly on sustained export traction and premiumisation in the domestic market. CATCH STOCK MARKET LIVE UPDATES TODAY
Here’s what brokerages expect from Bajaj Auto in Q3:
Nomura
Nomura expects revenue to rise 18 per cent Y-o-Y, driven by a 10 per cent Y-o-Y increase in volumes. Ebitda margins are likely to remain flat sequentially while improving on a yearly basis.
Estimates: Revenue at ₹15,108.6 crore (+18 per cent Y-o-Y); Ebitda at ₹3,088.8 crore (+20 per cent Y-o-Y); Ebitda margin at 20.4 per cent; Net profit at ₹2,523.8 crore (+20 per cent Y-o-Y).
Antique Stock Broking
Antique sees standalone revenue growing ~21 per cent Y-o-Y and 4 per cent Q-o-Q, led by 10 per cent Y-o-Y volume growth. Ebitda growth is supported by better export realisations due to currency depreciation, partly offset by higher commodity costs and weaker CV mix.
Estimates: Revenue at ₹15,499.4 crore (+21 per cent Y-o-Y); Ebitda at ₹3,149.8 crore (+22.1 per cent Y-o-Y); Net profit at ₹2,557.6 crore (+21.3 per cent Y-o-Y).
Deven Choksey Research
Deven Choksey projects revenue growth of 18.7 per cent Y-o-Y, driven by strong exports and premium motorcycle demand. Volume growth is pegged at 5.2 per cent Y-o-Y, aided by festive recovery and EV expansion.
Estimates: Revenue at ₹15,629.4 crore (+18.7 per cent Y-o-Y); Ebitda at ₹3,303 crore (+20.1 per cent Y-o-Y); PAT at ₹2,559.7 crore (+17.9 per cent Y-o-Y).
Nirmal Bang
Nirmal Bang expects revenue to rise 17.6 per cent Y-o-Y, supported by exports, favourable INR-USD movement, and higher contribution from the 125cc+ segment. Margins may see slight pressure due to higher raw material costs.
Estimates: Revenue at ₹15,066.9 crore (+17.6 per cent Y-o-Y); Ebitda at ₹2,923 crore (+13.3 per cent Y-o-Y); Ebitda margin at 19.4 per cent; PAT at ₹2,333.9 crore (+10.7 per cent Y-o-Y).
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