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About Bajaj Auto Limited

Bajaj Auto Limited is engaged in the manufacturing of two and three-wheelers. The company was incorporated and founded by Jamnalal Bajaj in 1945 as M/S Bachraj Trading Corporation Ltd. It received a licence from the Government of India to manufacture two-and three-wheelers in India in 1959. After a year, the company’s name was changed to Bajaj Auto Ltd.  The company was listed on BSE and NSE in 2008.

A three-wheeler with a rear engine was developed and marketed in 1975 under Maharashtra Scooters Limited, a joint sector company with Western Maharashtra Development Corporation Ltd. As of March 31, 2023, the company has 4 manufacturing plants at Waluj (Boxer, CT, Platina, Discover, Pulsar, Passenger Carriers, Goods Carriers, Quadricycle), Chakan (Pulsar, Avenger, Dominar, KTM, Husqvarna), Chakan/Akurdi, (Chetak), Pantnagar (CT, Platina and Pulsar).

In 2022, ‘the company witnessed significant achievement in HR Excellence’ as part of the CII National HR Excellence Award Confluence 2021-22. The same year, it won the Gold Award for the Brandon Hall Group Technology Excellence Awards 2022 under the Best Advance in Learning Management Technology category.

Business Segment

Motorcycles: This segment deals with products such as CT, Platina, Avenger, Dominar, and Pulsar under different engine categories such as 100cc, 125cc, and 150cc.

Chetak: In FY 2021, this legendary brand was re-introduced as a best-in-class electric scooter. The company has 105 dealers of Chetak across 84 cities as of March 31, 2023.

Three-Wheelers and Qute: The segment earns revenue via products such as Electric Three-Wheelers, RE, Maxima Z, Maxima X Wide, Maxima C, and Qute.

Probiking (KTM): The probiking business consists of two brands: KTM and Husqvarna. The KTM brand and its models are well-recognised across India. At present, the Husqvarna models are being seeded as of 2023.

International Business: The company exports its products under the segment umbrella. KTM recorded its highest-ever volume of export sales in FY 2023.

The company has 6 subsidiaries as of March 31, 2023, and a few of them are listed below:

• Bajaj Auto International Holdings BV (BAIH BV): It is a 100% Netherlands-based subsidiary of Bajaj Auto Ltd. 
• Chetak Technology Ltd. (CTL): To create its presence in the evolving EV market, the company entered the space through a 100% subsidiary, Chetak Technology Ltd. (CTL).
• Bajaj Auto (Thailand) Ltd.: It is a wholly owned subsidiary in Thailand with an issued and subscribed share capital of Thai Baht (THB) 45 million (H 10 crore). 

Key Personnel

Rajiv Bajaj, Managing Director

Rajiv Bajaj is currently the Managing Director and CEO of Bajaj Auto Limited. He started off at the shop floor level at Bajaj Auto, where he did a 3-year stint. He gained experience in Manufacturing & Supply Chain (1990-95) and became Managing Director of Bajaj Auto in April 2005. He has been on the board of Bajaj Auto Ltd. since March 5, 2002. In 2020, he was re-appointed as MD & CEO of the company for the next 5 years.

Corporate Action

• In 2010, the company announced a bonus share in a ratio of 1:1 at the record date of September 08, 2010.
• The company acquired KTM, a European brand, in 2017.

SWOT Analysis

Strengths

• Competitive Market Position in Two-Wheelers.
• Diversified Business and Products.

Weaknesses

• Lack of Presence in the Scooter Market.
• Rising Cost Pressure.

Opportunities

• Growing Three-Wheeler Market.
• Launch of New Products.

Threats

• Intense Competition on Motorcycle Segment.
• Labour Issues.