Bajaj Auto – Is the company back on growth track?

After good results, management outlined a few potential steps for FY 2023-24 in their investor call,

1. Launch of electric 3W by March / April 2023.

2. Setting up of exclusive Chetak showrooms from 2023-24 onwards and compliment this with a portfolio of EVs in next 2 to 3 years. They want to make their EV business sustainability independent of govt subsidies and are taking EV business as a marathon. Expect slow and gradual pick up. Not anything aggressive.

3. New Pulser launch is accepted well. KTM is going strong and Triumph launch is near but no firm dates yet on Triumph.

4. Export related challenges are expected to linger on for a couple of more quarters, however no major concerns in long run. They are consolidating on their market share in major markets. But challenges to persist and might impact CY 2023 business numbers.

Overall looks like that slowly multiple levers are coming together. Haziness to persist for next two quarters. However, next three years look very positive and will determine fate of the company and of its shareholders.