Bajaj Auto Ltd, aided by a substantial pick up in exports, has reported a moderate increase in sales of motorcycles and commercial vehicles in May 2014 compared to the same month last year.
But its figures for Year to Date YTD) (for the first two months of current fiscal) were virtually flat, indicating that recovery in the two-wheeler sector is product-specific.
In its filings with the stock exchanges, BAL said that it sold 3,13,020 motorcycles in May this year compared to 3,04,780 units in May 2013, an increase of 3 per cent.
The sale of commercial vehicles witnessed a 11 per cent jump to 38,416 units in May 2014 (34,568 in May 2013).
The total vehicles sales recorded a 4 per cent increase in May 2014 to 3,51,436 units as against 3,39,448 units in May last year.
What should be heartening for BAL was the fact that exports have picked up substantially, forming more than 50 per cent of the total vehicles' sales for the company. It had witnessed a 40 per cent increase in exports in May this year to 1,56,179 units as against 1,11,835 units in May 2013.
In the first two months of the current fiscal, motorcycle sales remained virtually flat at 6,12,656 units as compared to 6,05,607 units, a mere 1 per cent increase. The sales of commercial vehicles was down by 10 per cent to 70,309 units in April-May this year as against 77,919 units in the same period last year. The total sales was flat at 6,82,965 units in the first two months of current fiscal as against 6,83,526 units in the corresponding period last year. Exports witnessed a 27 per cent surge to 3,06,893 units during these two months in 2014 compared to 2,42,164 units in April-May last year.
Shares of BAL are up by Rs 16.30 to Rs 1969.45 on the BSE this morning.