Largest two- and three-wheeler manufacturer revenue-wise: Bajaj Auto

Mumbai, June 17 (IANS) Bajaj Auto on Wednesday said that it has emerged as the largest two- and three-wheeler manufacturer in India in terms of revenue.

Accordingly, the company had posted revenues of Rs 29,919 crore in FY 2019-20 with operating EBITA margins of 17.6 per cent at Rs 5,253 crore and PBT of Rs 6,580 crore.

“The company has clocked a CAGR of 10 per cent over the last decade (2010-2020), with revenues moving up from Rs 11,509 crore in FY 2009-10 to Rs 29,919 crore in FY 2019-20,” Bajaj Auto said in a statement.

“Bajaj Auto continues to leverage its R&D prowess to deliver meaningful innovation and differentiated value propositions to customers in the mass commuter segments.”

As per the statement, Bajaj Auto continued to lead Indian automobile exports, accounting for over 50 per cent of the country’s two- and three-wheeler exports with a turnover of Rs 11,845 crore.

“In FY 2019-20, 47 per cent of Bajaj Auto’s production was exported to over 79 countries. The company’s global sales have earned over $13 billion in foreign exchange in the last decade,” the statement said.

Commenting on this performance, Rakesh Sharma, Executive Director, Bajaj Auto, said: “While FY 2019-20 was indeed a challenging year, we are delighted to note that not only have we emerged as the overall leader in our segment, we have also put in place several initiatives that will build up momentum.”

–IANS

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