Bajaj Auto Q4 FY26: PAT up 34%, ₹150 dividend, buyback

Key takeaway from the March-quarter print

Bajaj Auto reported a strong March-quarter (Q4 FY26) performance, with profit, revenue and operating metrics rising sharply year-on-year. The company also paired the results with two shareholder-return announcements: a final dividend and a share buyback. The timing matters because the payout comes after a quarter where both domestic demand and exports supported volumes, while margins improved modestly. The board meeting was held on 6 May 2026 to approve audited standalone results for Q4 and the full year ended 31 March 2026.

Q4 FY26 financial highlights

On a standalone basis, net profit for Q4 FY26 rose 34% year-on-year to ₹2,746 crore, compared with ₹2,049 crore in the year-ago quarter. Revenue from operations increased 32% year-on-year to a record ₹16,006 crore from ₹12,148 crore. EBITDA climbed 36% year-on-year to ₹3,323 crore versus ₹2,451 crore a year ago. EBITDA margin improved to 20.8% from 20.2%, an expansion of 60 basis points. Earnings per share (EPS) for the quarter stood at ₹98.3.

What supported revenue and profitability

The company attributed the quarter’s growth to higher domestic and export volumes, along with favourable USD/INR realisation and a richer product mix. It also cited pricing, currency gains, product mix and operating leverage as factors supporting margin improvement, even as it flagged cost pressures. Within motorcycles, the domestic segment saw around 30% year-on-year revenue growth in Q4 FY26, helped by product interventions, particularly in the Pulsar N/NS series. KTM and Triumph cumulatively grew by over 40% year-on-year during the quarter, with momentum led by the KTM Duke and the Triumph Speed 400 brands.

Exceptional item in Q4 profit

Bajaj Auto said Q4 FY26 net profit included an exceptional gain of ₹35 crore. The gain arose from the prepayment at a discounted value of the sales tax deferral loan. The disclosure is relevant for readers comparing reported profit year-on-year, since it is explicitly included in the quarter’s profit after tax.

Q4 volumes: domestic and exports both up

Overall volumes in Q4 FY26 rose 24% year-on-year to 13.71 lakh units. Domestic volumes (two-wheelers plus commercial vehicles) grew 24% year-on-year to 7,60,846 units. Exports (two-wheelers plus commercial vehicles) increased 25% year-on-year to 6,10,212 units, with exports crossing the 6 lakh-unit mark again in the quarter.

A more granular split reported for the quarter showed domestic two-wheelers rising 24% year-on-year to 6.22 lakh units, and domestic commercial vehicles up 24% to 1.39 lakh units. Export two-wheelers grew 23% to 5.45 lakh units, while export commercial vehicles jumped 39% to 65,435 units.

Full-year FY26: growth across revenue, profit and volumes

For FY26 (standalone), revenue from operations rose 17% year-on-year to ₹58,732 crore. EBITDA increased 19% to ₹12,019 crore, with margin expanding 30 basis points to 20.5%. Profit after tax for FY26 came in at ₹9,825 crore, up 21% year-on-year. Diluted EPS for the year was ₹351.5, compared with ₹291.5 in FY25. Total volumes for the year crossed 51.17 lakh units, up 10% year-on-year, and surpassed the previous peak of FY19.

On a consolidated basis, FY26 revenue stood at ₹62,905 crore, up 23% year-on-year. Consolidated profit after tax was ₹10,744 crore, up 47% year-on-year, aided by the consolidation of KTM AG and its subsidiaries following the acquisition of a controlling stake in November 2025.

Dividend: ₹150 per share, lower than last year

Alongside the results, the board recommended a final dividend of ₹150 per equity share (1,500% on face value of ₹10) for the financial year ended 31 March 2026. Bajaj Auto fixed 29 May 2026 as the record date to determine shareholder eligibility. The dividend is expected to be paid to eligible shareholders by 24 July 2026, subject to shareholder approval at the ensuing AGM. The announced dividend is lower than the ₹210 per share dividend declared in the corresponding period last year.

Buyback: up to ₹5,633 crore at ₹12,000 per share

Bajaj Auto also approved a share buyback after a period of over two years, marking its second buyback in a little over two years. The company plans to buy back shares worth up to ₹5,633 crore at a price of ₹12,000 per share, via the tender offer route, subject to shareholder approval. The buyback covers up to 46.94 lakh shares (46,94,000 equity shares), representing 1.68% of paid-up equity capital. Reports pegged the buyback price at a premium of about 14.05% to 16.3% over the BSE closing price of ₹10,314.60.

The company also indicated that the dividend and buyback together add up to about ₹9,825 crore, representing a payout of 100% of the year’s profit after tax.

Market context and stock move on the day

Bajaj Auto shares closed at ₹10,314.60 on BSE, with one report noting a 2.70% rise on the day. The results were announced after market hours. Separately, a Reuters report said Q4 profit topped the ₹2,524 crore average estimate compiled by LSEG, highlighting the extent of the profit beat.

Summary table of key numbers and actions

What investors may track next

The next key dates in focus are the 29 May 2026 record date for the dividend and the expected dividend payout by 24 July 2026, subject to AGM approval. For the buyback, investors will watch for the shareholder approval process and tender-offer timeline. Operationally, Bajaj Auto’s commentary around domestic and export volumes, currency realisation and product mix will remain central given their explicit link to Q4 performance.

Conclusion

Bajaj Auto closed Q4 FY26 with record quarterly revenue and its highest-ever standalone quarterly profit after tax, alongside a modest improvement in operating margin. The company also announced a ₹150 per share final dividend and a ₹5,633 crore buyback at ₹12,000 per share, taking the stated FY26 payout to about ₹9,825 crore. The next confirmed milestones are the dividend record date on 29 May 2026 and the expected dividend payment timeline up to 24 July 2026, while the buyback remains subject to shareholder approval.