Bajaj Auto's disappointing run continued in March, with the company saying its overall sales fell 18 percent to 2.50 lakh, compared to March 2014. But in an interview, MD Rajiv Bajaj said that a slew of recent and upcoming launches at both the economy and premium segments would help regain market share.
Bajaj Auto's disappointing run continued in March, with the company saying its overall sales fell 18 percent to 2.50 lakh, compared to March 2014.
During the month, the company sold 2.09 lakh two-wheelers (down 22 percent) and about 40,000 three-wheelers (up 21 percent), it informed exchanges today. The overall decline was exacerbated by exports -- part of the total sales number – falling 16 percent to nearly 99,000 units.
But in an interview with CNBC-TV18's Latha Venkatesh and Sonia Shenoy, MD Rajiv Bajaj said he was confident the company had "turned the bend" and that a slew of recent and upcoming launches at both the economy and premium segments would help regain market share.
The company's market share has come off a high of 24 percent to high teens but Bajaj said it was aiming to regain lost ground this quarter.
Bajaj recently launched two new bikes in the economy segment, the Platina ES and a refreshed CT100, and this has helped its entry-level motorcycles sales jump from 35,000 a month in January to about 60,000 in March, the MD said.
The company also has one launch every month this quarter in the sport segment, close on the heels of its recent Pulsar RS 200 launch.
Bajaj also added that, despite analyst concerns that the focus on cost-competitive entry-level motorcycles may erode its traditional margin strength, the company was aiming to hold on to its 20 percent EBITDA margin this year.
Following troubles in its key Egypt (lack of forex availability) and Nigerian (political turmoil) export markets, Bajaj said things were now coming back to normal.
Bajaj Auto stock price
On April 06, 2015, at 11:09 hrs Bajaj Auto was quoting at Rs 2001.35, down Rs 17.3, or 0.86 percent. The 52-week high of the share was Rs 2690.00 and the 52-week low was Rs 1900.00.
The company's trailing 12-month (TTM) EPS was at Rs 102.16 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 19.59. 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 6.03.
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