One of India's biggest two-wheeler manufacturers, Bajaj Auto has had a huge contribution from its exports and three-wheeler sales for its net sales and margin revival in the September.
The main reason for the boost in sales was because the ban in Egypt was re-thought out and Mumbai started issuing permits for the three wheelers.
The exports helped the company grow about 3.5 percent since last year helping boost Bajaj Auto's net sales as well. Most importantly for Bajaj, there was an increase in the company's operating margins.
The increase in exports helped the company compensate for domestic sales. The company's focus for newer markets overseas and with the KTM portfolio, 47 percent of sales in September was due to exports.
Bajaj Auto's motorcycle sales in India has fallen almost 10 percent compared to a year ago, in a growing market. The company's latest launch, the Bajaj Discover has not helped with sales as well.
The domestic sales of two-wheelers is a very big concern for Bajaj Auto's investors as the company lost market share in the 75-125cc segment.
Keeping the company's premium segments in mind, there is a very good chance of growth once the economy picks up and new variants are launched.