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Bajaj Auto’s investors breathe a sigh of relief as exports offset domestic slump
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Bajaj Auto Ltd’s shares have declined by a fourth so far this year, which puts it in a better position than some peers. The Nifty Auto index, in comparison, has fallen more than 34% year till date.
Bajaj Auto’s investors are drawing some comfort from the steady rise in its two-wheeler exports, which helped offset weak domestic sales.
In FY20, two-wheeler exports rose to 47% of volumes, up from 40% in FY19. While domestic two-wheeler sales fell 18%, exports rose 10% in FY20.
In March, two-wheeler exports rose 9% even as domestic sales plunged 55%. Riding on this hope, the Street expects the company to be an outperformer in the March quarter (Q4 FY20) in the two-wheeler segment. “We expect the company to report a lower decline in profit
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