Both Bajaj Auto and TVS Motor Company delivered exceptional performance in the June 2026 quarter, driven by robust overseas demand for two-wheelers. According to reports from The Financial Express, Bajaj Auto's two-wheeler exports jumped 52% year-on-year to 6,36,005 units, significantly outpacing its domestic sales growth of 11%. The company's commercial vehicles including three-wheelers also showed strong momentum with overseas sales growing 69% year-on-year to 96,168 units in the first quarter of FY27. Similarly, TVS Motor Company achieved overseas sales growth of nearly 34% year-on-year to 0.47 million units, with strong demand for models like HLX, Apache and Raider across Latin America, Africa and Asia.
The strong export performance translated into impressive financial results for both companies. As reported by The Financial Express, Bajaj Auto's standalone revenue from operations surged 37% year-on-year to ₹17,243 crore in the June 2026 quarter, with the company achieving an all-time high in revenues. Bajaj Auto's standalone net profit jumped 42.3% year-on-year to ₹2,982.8 crore, while operating profit margin rose 110 basis points year-on-year to 20.7%. TVS Motor Company also delivered strong results with standalone revenue growing 37.8% year-on-year to ₹13,896 crore and standalone net profit rising 51.5% year-on-year to ₹1,174 crore. The company achieved its highest ever quarterly sales with total vehicle sales growing 27.7% year-on-year to 16,30,558 units.
Despite delivering comparable growth metrics, there is a significant valuation gap between the two companies. According to The Financial Express, Bajaj Auto trades at a standalone P/E of 28.5 times, while TVS Motor Company trades at a standalone P/E of 45.4 times. This represents a discount of nearly 37% for Bajaj Auto compared to TVS Motor Company. The valuation disparity is further highlighted by their return on equity metrics, with TVS Motor Company achieving a 34.4% Return on Equity compared to *Bajaj Auto's 29.3%**. Both companies have benefited from the nearly 7% year-on-year rupee depreciation to ₹95 levels against the dollar, which has boosted investor interest in the two-wheeler sector.
Both companies are capitalizing on the growing electric mobility trend, with TVS Motor Company showing particularly strong EV performance. As reported by The Financial Express, TVS Motor's two-wheeler electric vehicles grew by 86% year-on-year to 129,940 units in the first quarter of FY27. The company highlighted that it achieved its highest ever quarterly sales during Q1FY27. Bajaj Auto is also planning to launch new models for its Pulsar and Chetak electric range. Looking ahead, both companies are expected to continue their strong growth momentum despite the Middle East crisis, with investors closely monitoring their ability to sustain growth in overseas markets. Hero MotoCorp, another leading player, will declare its June 2026 quarter results on August 6.
