)
Bajaj Auto, the world's largest producer of three-wheelers will get a export boost next month as Egypt, its largest importer has lifted a crucial ban.
The Egypt government has lifted the ban on three-wheeler imports which was in effect since February. The ban was imposed with a view to promote domestic manufacturing industry.
Sources said that the Pune-based company which exports more than one-fourth of its total three-wheeler produce to the African nation will begin shipments of 5500 three-wheelers next month.
Bajaj Auto exported around 260,000 units of three-wheelers last year. Egypt and Sri Lanka are its biggest markets. Average three-wheeler exports to Egypt of Bajaj Auto stood at 6,000 units per month before the ban was imposed.
The new export orders are expected to give a boost to Bajaj's margins which had taken a slight beating in the final quarter ended March 31, 2014.
While export revenue grew by 30% to constitute more than 40% of its net sales last quarter, net profit missed estimates remaining almost unchanged compared to the same quarter the previous year.
The Rajiv Bajaj - led company has also bagged an order of 3,500 two-wheelers to Egypt, which will also commence next month.
