Export-led Bajaj Auto and TVS Motor may better absorb Q1 margin pressure
Indian auto OEMs are expected to report healthy June-quarter revenue growth, though higher raw-material and freight costs could squeeze margins. Nirmal Bang sees export-focused Bajaj Auto and TVS Motor benefiting from mix, while premium brands retain pricing power.
Indian auto OEMs are expected to post healthy Q1 revenue growth but face margin pressure from raw materials and freight. Export-heavy Bajaj Auto and TVS Motor may fare better through favourable mix, while premium players retain stronger pricing power.
Why this matters
The margin outlook follows Bajaj Auto’s planned Chetak e-scooter capacity increase to 60,000 units a month, two planned Chetak launches and EV retail expansion, after Q1 profit rose 46% on 65% revenue growth.
retail-company is accelerating, up 962900% QoQ.