Oct sales good; mkt share may rise to 23% by April: Bajaj

Rajiv Bajaj says festive season sales have been good, but not extraordinary. Total sales for October stood at 3.86 lakh units versus 3.99 lakh units m-o-m, with Discover 150cc sales at around 28,000 for the month.

Despite the overall or general weak auto sales data, Rajiv Bajaj, managing director of Bajaj Auto is pleased that his company's motorcycle market share in the country rose to 20 percent. He expects the market share to rise to 23 percent by April.

He says festive season sales have been good, but not extraordinary. Total sales for October stood at 3.86 lakh units versus 3.99 lakh units month-on-month (m-o-m), with Discover 150cc sales at around 28,000 for the month. The company, however, saw a modest 33,000 motorcycles retailed on Dhanteras day, says Bajaj. Bajaj Auto's three-wheeler sales rose 33 percent at 49,094 units (y-o-y).

The company's exports rose 15 percent at 1.58 lakh units y-o-y. Bajaj Auto is looking at new launches in Platina and Pulsar.

Below is the verbatim transcript of Rajiv Bajaj's interview with Sonia Shenoy and Latha Venkatesh on CNBC-TV18.

Sonia: Could you just take us through what the sales numbers have been this month?

A: It has been a good month. Year-on-year (YoY) it has been a flat month; about 3,86,000 motorcycles and three wheelers. I think for us the highlight of this month is that domestic motorcycle market share has come back now into 20 percent. You would remember that it was typically at 18 percent and in July and August it had slipped further to 15 percent but that was more to do with our internal stock alignment. By September it was up to 17 percent and in October it is little over 20 percent, thanks I would say primarily to new Discover. So, from this point of view particularly it was a very good month for us.

Sonia: What were the exact Discover 150cc sales this month?

A: I would guess about 28,000.

Latha: What is the dealer inventory position at the moment?

A: The dealer inventory position is very comfortable because in September we started by carrying normal stocks which is four to five weeks. At the end of September, in anticipation of the season we had added about 40,000 numbers to that. In October we reduced that by 15,000 numbers. So, we are 10,000 lower than we were on September 1.

Stay tuned for more…

Bajaj Auto stock price

On November 03, 2014, at 11:11 hrs Bajaj Auto was quoting at Rs 2575.50, down Rs 33.55, or 1.29 percent. The 52-week high of the share was Rs 2621.85 and the 52-week low was Rs 1796.00.

The company's trailing 12-month (TTM) EPS was at Rs 103.65 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 24.85. The latest book value of the company is Rs 332.04 per share. At current value, the price-to-book value of the company is 7.76.

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