Synopsis: Bajaj Auto grew to become India’s high electrical two-wheeler maker in October 2025 with 21.9% market share, surpassing TVS. The corporate restored full Chetak scooter manufacturing after provide points eased.
Famend for its two-wheelers and innovation in electrical mobility, the corporate has achieved a significant milestone by surpassing well-liked rivals within the EV house this October. This text explores the components behind its spectacular efficiency, market share positive factors, and what this might imply for traders going ahead.
Bajaj Auto Restricted’s inventory, with a market capitalisation of Rs. 2,48,539 crores, fell to Rs. 8,802, hitting a low of up 1.35 p.c from its earlier closing value of Rs. 8,923. Moreover, the inventory over the previous yr has given a unfavourable return of 9.52 p.c.
E2W Rating
India’s electrical two-wheeler market gained robust momentum in October 2025, boosted by festive season gross sales. VAHAN information reveals Bajaj Auto led the market with 29,567 registrations, capturing 21.9% share, adopted carefully by TVS Motor with 28,008 items (20.7%). Ather Power held third place, recording 26,713 gross sales and a 19.6% market share.
Ather Power achieved its highest-ever month-to-month gross sales in October, doubling its volumes since April 2025. The corporate credited this development to strong festive demand and the recognition of its Rizta mannequin. Ola Electrical dropped to fourth with 15,481 items (11.6%), and Hero MotoCorp’s Vida model took fifth with 15,064 items (11%).
Ampere secured a 5% share with 6,976 items, forward of Bgauss (2%), Pure EV (1.3%), and River (1%). Different manufacturers collectively accounted for 8,309 items and a 5.9% share. October’s robust efficiency follows a weaker September, when complete registrations dropped to 96,031 items from 104,453 in August.
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What led to this variation
Bajaj Auto grew to become the highest electrical two-wheeler producer in India in October 2025 primarily by surpassing TVS Motor in EV gross sales with a 21%+ market share. This was pushed by Bajaj’s restoration of full manufacturing capability, notably for its well-liked Chetak electrical scooter, and resolving provide chain points resembling these associated to uncommon earth magnets.
Bajaj offered 29,567 EV items in October, up considerably from about 19,687 items in September, edging out TVS which offered round 28,008 items. Bajaj’s strategic push throughout the festive season, mixed with renewed client demand and manufacturing restoration, helped it safe a slender lead over TVS and others within the aggressive electrical two-wheeler market.
Q1 Monetary Spotlight
The corporate reported income of Rs. 13,133 crore in Q1FY26, rising 3.8% QoQ from Rs. 12,646 crore in Q4FY25 and 10% YoY from Rs. 11,932 crore in Q1FY25. The constant gross sales development aligns with its 3-year gross sales CAGR of 15%, reflecting regular enterprise enlargement throughout segments.
Internet revenue stood at Rs. 2,210 crore in Q1FY26, up 22.6% QoQ from Rs. 1,802 crore and 13.8% YoY from Rs. 1,942 crore. The advance in profitability mirrors effectivity positive factors and robust operational execution, supported by a 3-year revenue CAGR of 10% and ROE CAGR of 23%.
Written By Fazal Ul Vahab C H
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