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Bajaj Auto Subsidiary BACL Receives [ICRA]AAA (Stable) Rating for Rs 7,750 Crore Facilities
ICRA has reaffirmed and assigned the highest credit rating of [ICRA]AAA (Stable) to Bajaj Auto Credit Limited (BACL), a wholly owned subsidiary of Bajaj Auto. The rating covers Rs 2,000 crore in Non-convertible debentures and Rs 750 crore in subordinated debt. Furthermore, ICRA assigned a new [ICRA]AAA (Stable) rating to Rs 5,000 crore of long-term bank lines. This top-tier credit rating reflects the strong financial backing of the parent company and ensures the subsidiary can access capital at competitive rates to fuel its lending operations.
Key Highlights
ICRA reaffirmed [ICRA]AAA (Stable) rating for Rs 2,000 crore of Non-convertible debentures
Subordinated bonds and debt worth Rs 750 crore maintained their [ICRA]AAA (Stable) rating
New [ICRA]AAA (Stable) rating assigned to Rs 5,000 crore of long-term bank lines
Total credit facilities rated for the subsidiary BACL amount to Rs 7,750 crore
💼 Action for Investors
Investors should note this as a positive development for Bajaj Auto's captive finance arm, as the top-notch rating will keep borrowing costs low. This strengthens the company's competitive position in the vehicle financing segment.
Bajaj Auto Subsidiary KTM AG Pre-pays Euro 450 Million Loan; Agreement Terminated
KTM AG, a step-down subsidiary of Bajaj Auto, has pre-paid its outstanding Euro 450 million secured term loan to Bajaj Auto International Holdings BV. This loan was originally extended in May 2025 to facilitate the restructuring of KTM AG and its relevant subsidiaries. The full repayment has resulted in the formal termination of the facility agreement on March 5, 2026. This move reflects a strengthening financial position for the KTM business unit following its restructuring phase.
Key Highlights
KTM AG pre-paid the entire outstanding amount of a Euro 450 million secured term loan
The loan was provided by BAIH BV, a 100% owned subsidiary of Bajaj Auto Limited
The facility was originally intended to fund the restructuring of KTM AG and its subsidiaries
The agreement, dated May 21, 2025, stands terminated effective March 5, 2026
💼 Action for Investors
Investors should view this as a positive signal regarding KTM AG's liquidity and the successful progress of its restructuring efforts. No immediate action is required, but it improves the consolidated financial outlook.
Bajaj Auto Feb 2026 Total Sales Surge 27% YoY to 4.48 Lakh Units
Bajaj Auto reported a robust 27% year-on-year growth in total sales for February 2026, reaching 4,48,259 units. The growth was consistent across segments, with domestic sales rising 27% and exports increasing by 28%. A standout performer was the Commercial Vehicle export segment, which grew by 43% during the month. Year-to-date (Apr-Feb) total sales are up 9%, supported by a strong 21% recovery in overall exports compared to the previous year.
Key Highlights
Total monthly sales increased 27% YoY to 4,48,259 units from 3,52,071 units in February 2025.
2-Wheeler sales grew 27% overall, with domestic volumes at 1,86,164 units and exports at 1,93,757 units.
Commercial Vehicle exports showed significant momentum with 43% YoY growth in February and 52% YTD growth.
Total domestic sales for February 2026 stood at 2,32,581 units, a 27% jump over the previous year.
Year-to-date total sales reached 46,72,290 units, marking a 9% increase over the corresponding period last year.
💼 Action for Investors
The strong double-digit growth across domestic and export markets indicates healthy demand and successful recovery in international geographies. Investors should maintain a positive outlook while monitoring the sustainability of domestic 2-wheeler growth which remains flat on a YTD basis.
Bajaj Auto Subsidiary KTM AG Secures €550 Million Refinancing Loan
KTM AG, a step-down subsidiary of Bajaj Auto, has secured a €550 million (₹5,904.8 crore) unsecured loan from a consortium of four international banks. This 5-year facility will be used to repay a €450 million intra-group loan previously provided by Bajaj Auto's subsidiary during KTM's restructuring phase. The move shifts the debt burden from the parent group's internal books to external banking institutions, reflecting strong lender confidence. KTM AG reported a 60% increase in retail sales in H2 2025 and a reduction of 100,000 units in inventory, signaling an operational turnaround.
Key Highlights
KTM AG secured a €550 million (₹5,904.8 crore) unsecured loan for a 5-year term.
Proceeds will repay a €450 million intra-group loan to Bajaj Auto International Holdings BV.
Lenders include DBS Bank, JP Morgan S.E., HSBC, and MUFG Bank Ltd.
Operational recovery noted with H2 2025 retail sales up 60% and inventory reduced by 100,000 units.
Interest rates are competitive, in the low to mid-single-digit percentage range.
💼 Action for Investors
This refinancing validates KTM's turnaround and frees up Bajaj Auto's internal capital; investors should remain positive on the stock's long-term growth prospects.
Bajaj Auto's KTM AG Secures €550 Million Refinancing Loan to Strengthen Financial Base
KTM AG, a step-down subsidiary of Bajaj Auto, has secured a €550 million (approx. ₹5,904.8 crore) unsecured loan from a consortium of four international banks. This 5-year facility will be used to repay a €450 million intra-group loan previously provided by Bajaj Auto for KTM's restructuring. The move shifts the debt burden from the parent group to external lenders, reflecting strong banking confidence in KTM's recovery. KTM reported a 60% increase in retail sales in H2 2025 and a reduction of over 100,000 units in inventory, signaling operational stabilization.
Key Highlights
Secured €550 million (₹5,904.8 crore) unsecured loan with a 5-year tenure from DBS, JP Morgan, HSBC, and MUFG
Proceeds will repay a €450 million intra-group loan from Bajaj Auto International Holdings BV used for restructuring
Interest rate set at a competitive low to mid-single-digit percentage range (EURIBOR + margin)
Operational recovery noted with H2 2025 retail sales up 60% and inventory reduced by 100,000+ units
💼 Action for Investors
Investors should view this as a positive sign of KTM's turnaround and reduced financial reliance on the parent company's balance sheet. Monitor if this leads to improved consolidated margins for Bajaj Auto as KTM stabilizes.
Bajaj Auto Subsidiary KTM AG Secures €550 Million Refinancing Loan
KTM AG, a step-down subsidiary of Bajaj Auto, has secured a €550 million refinancing loan from an international banking consortium. This new 5-year unsecured loan replaces a €450 million loan previously provided by Bajaj Auto's international holding company in May 2025. The financing carries a low to mid-single-digit interest rate and marks the completion of KTM AG's financial restructuring. While the loan strengthens the subsidiary's foundation, it imposes market-standard restrictions on dividend distributions during its term.
Key Highlights
KTM AG secured a €550 million unsecured loan from an international banking consortium
The loan refinances a €450 million debt previously owed to Bajaj Auto International Holdings B.V.
The new debt has a 5-year term with interest rates in the low to mid-single-digit percentage range
Dividend distributions from KTM AG are restricted during the 5-year loan tenure
This transaction completes the refinancing measures and financial restructuring of KTM AG
💼 Action for Investors
Investors should view this as a positive development as it replaces internal group funding with external debt, de-risking Bajaj Auto's balance sheet. Monitor KTM AG's operational performance now that the financial restructuring phase is finalized.
Bajaj Auto Launches WEGO P9018 Electric 3W with Industry-High 296 Km Range
Bajaj Auto has introduced the WEGO P9018, positioned as India's largest electric three-wheeler with a segment-leading range of 296 km. The vehicle features a significant 17.7 kWh battery and is priced at Rs. 4,41,247 (ex-showroom), targeting urban and rural last-mile mobility. This launch strengthens Bajaj's EV portfolio by addressing the need for high-capacity, long-range commercial vehicles. The product includes advanced features like a two-speed transmission and a 5-year warranty to ensure reliability and higher earnings for operators.
Key Highlights
Industry-leading range of 296 km per single charge
Equipped with a large 17.7 kWh battery and upgraded Battery Management System
Priced at Rs. 4,41,247 (ex-showroom pan India) with a 5-year warranty
Features 36% gradability and a two-speed transmission for diverse terrains
Designed for highest passenger and luggage carrying capability in the segment
💼 Action for Investors
Investors should monitor the market reception and sales volume of this premium electric three-wheeler as it could drive market share gains in the EV segment. The high-range specification provides a competitive edge over existing players in the last-mile transport industry.
Bajaj Auto Q3 FY26: Record Revenue of ₹15,000 Cr and PAT of ₹2,500 Cr; EV Margins Hit Double Digits
Bajaj Auto delivered a record-breaking Q3 FY26 with revenue growing 19% YoY to over ₹15,000 crores and PAT crossing ₹2,500 crores. A significant milestone was achieved in the EV segment, which now contributes 25% of domestic revenue and has reached double-digit EBITDA margins. Export volumes saw a strong recovery, surpassing 600,000 units for the first time in 15 quarters, while the premium Pro-Biking segment grew by 50% YoY. Management is aggressively targeting the 125cc+ motorcycle segment with 8 new launches planned over the next four months.
Key Highlights
All-time high quarterly revenue of ₹15,000+ crores and EBITDA of ₹3,100+ crores (20.8% margin).
EV portfolio (Chetak and E-Autos) achieved double-digit EBITDA margins with combined quarterly revenue exceeding ₹2,000 crores.
Export volumes grew 18% YoY, maintaining a 200,000 units per month run rate for the first time in 40 months.
Ownership in KTM Austria increased to 75%, with a liquidity and cost-reduction turnaround plan in motion.
Retail finance subsidiary BACL reported an AUM of ₹16,000+ crores and a quarterly PAT of ₹200 crores.
💼 Action for Investors
Investors should note the successful scaling of the EV business into a profitable venture and the robust recovery in export markets. The stock remains a strong play on the premiumization of the Indian two-wheeler market and global recovery.
Bajaj Auto Reports 25% YoY Sales Growth in January 2026 to 4.77 Lakh Units
Bajaj Auto demonstrated strong performance in January 2026, with total sales rising 25% year-on-year to 4,77,422 units. The growth was balanced across segments, with domestic sales up 26% and exports increasing by 25%. Notably, the commercial vehicle segment saw a 35% jump, driven by a massive 53% increase in exports. While Year-to-Date (YTD) domestic sales remain marginally lower by 1%, the strong January figures suggest a significant recovery in momentum heading into the final quarter of the fiscal year.
Key Highlights
Total monthly sales increased by 25% YoY to 4,77,422 units in January 2026.
Domestic 2-wheeler sales grew 25% to 2,14,727 units compared to 1,71,299 units in Jan 2025.
Commercial vehicle exports surged 53% YoY, reaching 23,879 units.
Overall export volumes for the month grew by 25% to 2,15,447 units.
Year-to-Date (Apr-Jan) total sales are up 8%, supported by a 20% growth in total exports.
💼 Action for Investors
Investors should take confidence in the broad-based recovery across both domestic and export markets. The sharp rebound in January volumes suggests the company is successfully navigating previous domestic sluggishness, making it a key stock to watch for Q4 performance.
Bajaj Auto Subsidiary Bajaj Mobility AG Reports EUR 590M Net Profit in 2025 Post-Restructuring
Bajaj Auto's step-down subsidiary, Bajaj Mobility AG (formerly PIERER Mobility AG), reported a significant financial turnaround in 2025, posting a net profit of EUR 590 million compared to a loss of EUR 1,080 million in 2024. This recovery was primarily driven by a one-time restructuring gain of EUR 1,193 million following the reorganization of KTM AG. Although revenue declined by 46% to EUR 1,009 million during the restructuring phase, the company successfully reduced its net debt by over 51% to EUR 798 million. The equity ratio also turned positive at 24.3%, indicating a much-needed stabilization of the European operations.
Key Highlights
Net Profit turned positive at EUR 590 million in 2025 versus a loss of EUR 1,080 million in 2024
Net debt significantly reduced by 51.4% to EUR 798 million from EUR 1,643 million
Restructuring gain of EUR 1,193 million contributed to a preliminary EBITDA of EUR 874 million
Equity ratio improved to 24.3% from a negative 8.1% in the previous year
Revenue decreased by 46.3% to EUR 1,009 million as the company focused on core motorcycle business
💼 Action for Investors
Investors should take note of the improved balance sheet and debt reduction at the European subsidiary, which has previously been a drag on consolidated performance. While the profit is driven by one-time gains, the stabilization of KTM's operations is a positive signal for Bajaj Auto's long-term global strategy.
Bajaj Mobility (KTM) Reports 46% Revenue Drop in 2025; Announces 500 Job Cuts for Restructuring
Bajaj Auto's step-down subsidiary, Bajaj Mobility AG (formerly PIERER Mobility AG), reported a 46% decline in 2025 revenue to approximately EUR 1 billion following the insolvency of KTM AG in late 2024. Despite the revenue drop, the company successfully reduced motorcycle inventory by over 100,000 units and saw a 60% sales recovery in H2 2025 compared to H1. To improve long-term competitiveness, the group is cutting approximately 500 jobs and streamlining its brand portfolio to focus on KTM, Husqvarna, and GASGAS. These measures aim to lower fixed costs and simplify the organizational structure to stabilize the business by 2026.
Key Highlights
Estimated 2025 revenue of over EUR 1 billion, a 46% decrease compared to the previous year
Motorcycle inventory significantly reduced from 248,580 units to 147,427 units by year-end 2025
Planned reduction of approximately 500 employees, primarily in middle management and white-collar roles
Motorcycle sales showed a recovery trend with 80,464 units sold in H2 2025, up 60% from H1 2025
Strategic divestment of non-core assets including the bicycle business, MV Agusta, and X-Bow
💼 Action for Investors
Investors should monitor the progress of the rightsizing program and its impact on Bajaj Auto's consolidated margins. While the revenue drop is sharp, the aggressive inventory reduction and H2 sales recovery suggest the restructuring is gaining traction.
Bajaj Auto Dec 2025 Total Sales Rise 14% YoY to 3.69 Lakh Units on Export Surge
Bajaj Auto reported a 14% year-on-year increase in total sales for December 2025, reaching 3,69,809 units. The growth was primarily fueled by a robust 25% surge in exports, while domestic sales saw a modest 4% rise. Commercial vehicle exports were a standout performer, growing by 32% during the month. However, year-to-date domestic two-wheeler sales remain down by 4%, indicating some underlying weakness in the home market despite the monthly recovery.
Key Highlights
Total sales grew 14% YoY to 3,69,809 units in December 2025 compared to 3,23,125 units in Dec 2024.
Overall exports jumped 25% YoY to 2,00,436 units, led by a 32% increase in commercial vehicle exports.
Domestic sales grew by a modest 4% YoY to 1,69,373 units, showing signs of stabilization.
Year-to-date (Apr-Dec) total sales are up 6%, though domestic two-wheeler volumes are down 4% YoY.
💼 Action for Investors
Investors should view the strong export recovery as a positive catalyst, though the YTD domestic weakness warrants caution. Monitor the sustainability of export growth in upcoming months to confirm a long-term trend.
Bajaj Auto faces ₹38.21 Crore penalty for alleged tax misclassification
Bajaj Auto has received an order from the Deputy Commissioner, Rudrapur, regarding alleged misclassification of spare parts, leading to a tax demand of ₹34,73,88,774. Additionally, a penalty of ₹3,47,38,877 has been imposed. Bajaj Auto believes it has a strong case, citing consistent classification practices over three decades and relevant legal precedents. The company intends to pursue legal remedies, stating that there is no material impact on financials or operations.
Key Highlights
Tax demand of ₹34,73,88,774 raised due to alleged misclassification of spare parts.
Penalty of ₹3,47,38,877 imposed by the tax authorities.
Order received on 01 December 2025 at around 04:00 p.m.
💼 Action for Investors
Investors should monitor the progress of Bajaj Auto's legal proceedings regarding the tax demand. While the company believes the demand is not maintainable, the outcome could potentially affect future earnings if the decision goes against them.