AI-generated · cited to primary sources · not investment advice
Bajaj Auto (532977) Aug 2025 Filing Analysis
Does management do what it says?
Exports to KTM resumed in May 2025 after being suspended in Q4 due to receivable risks associated with the restructuring process. (1 met, 1 in progress across 2 tracked commitments)
“We are on track to expand capacity to 50,000 units per annum this year.”
The launch has been slightly delayed from early July to the middle of August 2025 as the product has now completed extended testing. (1 revised, 1 met across 2 tracked commitments)
“Our product has now completed extended testing and will be launched in a few key markets by middle of August itself.”
Complete derisking of the EV supply chain (HRE magnets) within six to nine months. — target: Complete derisking
“complete derisking should take about six to nine months.”
See the full cited Management analysis of Bajaj Auto
What could break the thesis?
The risk is easing as the company has achieved leadership in the e-auto segment with over 35% market share and is seeing improved unit economics despite subsidy changes. (1 easing)
“In the EV segment, we achieved the pole position in Q1 with an over 35% market share in the e-auto segment... This has lifted both the ASPs and profitability of the EV segment.”
See the full cited Risk analysis of Bajaj Auto
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