Bajaj Electricals Ltd
Bajaj Electricals Limited is a part of the Bajaj Group of companies and is a leading FMEG company spread across Consumer Products - Appliances, Fans, Lighting, Exports, and EPC - Illumination, Transmission Towers and Power Distribution. It also has its presence in premium home appliances and cookware segments with brands like Morphy Richards and Nirlep.[1]
- Market Cap ₹ 10,818 Cr.
- Current Price ₹ 940
- High / Low ₹ 1,223 / 884
- Stock P/E 60.6
- Book Value ₹ 123
- Dividend Yield 0.43 %
- ROCE 18.5 %
- ROE 12.2 %
- Face Value ₹ 2.00
Pros
- Company's working capital requirements have reduced from 42.0 days to 30.6 days
Cons
- Stock is trading at 7.66 times its book value
- The company has delivered a poor sales growth of 2.90% over past five years.
- Company has a low return on equity of 10.4% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Consumer Durables Industry: Domestic Appliances
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,077 | 3,351 | 4,002 | 4,232 | 4,590 | 4,254 | 4,697 | 6,656 | 4,975 | 4,572 | 4,786 | 5,418 | 4,746 | |
2,840 | 3,239 | 3,920 | 4,143 | 4,326 | 4,011 | 4,403 | 6,308 | 4,768 | 4,271 | 4,535 | 5,060 | 4,447 | |
Operating Profit | 237 | 112 | 82 | 88 | 264 | 243 | 293 | 348 | 207 | 302 | 251 | 358 | 299 |
OPM % | 8% | 3% | 2% | 2% | 6% | 6% | 6% | 5% | 4% | 7% | 5% | 7% | 6% |
14 | 41 | 15 | 24 | 48 | 36 | -36 | 65 | 53 | 84 | 59 | 83 | 99 | |
Interest | 63 | 69 | 78 | 104 | 108 | 80 | 59 | 116 | 169 | 76 | 69 | 48 | 58 |
Depreciation | 13 | 14 | 25 | 29 | 27 | 30 | 34 | 38 | 68 | 69 | 63 | 75 | 97 |
Profit before tax | 176 | 69 | -6 | -21 | 177 | 168 | 164 | 259 | 22 | 241 | 179 | 318 | 243 |
Tax % | 33% | 26% | 11% | 33% | 38% | 36% | 49% | 36% | 101% | 24% | 23% | 27% | |
118 | 51 | -5 | -14 | 110 | 108 | 84 | 167 | -0 | 184 | 137 | 231 | 173 | |
EPS in Rs | 10.66 | 4.62 | -0.48 | -1.25 | 9.85 | 9.57 | 7.39 | 14.69 | -0.01 | 16.04 | 11.91 | 20.03 | 15.06 |
Dividend Payout % | 24% | 39% | -282% | -108% | 26% | 26% | 43% | 21% | -0% | -0% | 25% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 3% |
3 Years: | 3% |
TTM: | -5% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 14% |
3 Years: | 1103% |
TTM: | -18% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 13% |
3 Years: | -4% |
1 Year: | -6% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 9% |
3 Years: | 10% |
Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 23 | 23 | 23 | 23 | 23 |
Reserves | 680 | 709 | 690 | 667 | 736 | 851 | 924 | 1,057 | 1,357 | 1,582 | 1,722 | 1,938 | 1,390 |
209 | 166 | 348 | 408 | 899 | 647 | 723 | 1,582 | 1,079 | 541 | 82 | 101 | 203 | |
1,043 | 1,263 | 1,627 | 1,727 | 1,305 | 1,569 | 1,805 | 2,500 | 2,100 | 2,105 | 2,175 | 2,652 | 2,223 | |
Total Liabilities | 1,952 | 2,157 | 2,685 | 2,822 | 2,960 | 3,087 | 3,473 | 5,160 | 4,559 | 4,250 | 4,002 | 4,715 | 3,838 |
184 | 226 | 249 | 278 | 276 | 310 | 316 | 322 | 404 | 461 | 685 | 753 | 814 | |
CWIP | 3 | 6 | 3 | 3 | 21 | 8 | 6 | 9 | 11 | 18 | 43 | 42 | 72 |
Investments | 44 | 30 | 67 | 59 | 80 | 80 | 14 | 51 | 53 | 38 | 49 | 91 | 49 |
1,721 | 1,895 | 2,366 | 2,482 | 2,583 | 2,688 | 3,136 | 4,778 | 4,091 | 3,734 | 3,225 | 3,829 | 2,903 | |
Total Assets | 1,952 | 2,157 | 2,685 | 2,822 | 2,960 | 3,087 | 3,473 | 5,160 | 4,559 | 4,250 | 4,002 | 4,715 | 3,838 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
76 | 141 | -7 | 121 | 305 | 437 | -103 | -602 | 627 | 660 | 931 | 450 | |
-68 | -0 | -76 | -83 | -53 | -90 | 36 | -127 | -46 | -110 | -86 | -99 | |
-2 | -144 | 87 | -56 | -239 | -368 | 64 | 718 | -491 | -605 | -772 | -129 | |
Net Cash Flow | 6 | -4 | 4 | -19 | 13 | -22 | -3 | -11 | 90 | -56 | 73 | 222 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 109 | 102 | 113 | 111 | 112 | 115 | 136 | 144 | 150 | 121 | 87 | 100 |
Inventory Days | 56 | 60 | 57 | 58 | 60 | 76 | 68 | 64 | 76 | 118 | 109 | 103 |
Days Payable | 131 | 139 | 152 | 142 | 66 | 84 | 100 | 85 | 99 | 115 | 136 | 153 |
Cash Conversion Cycle | 35 | 23 | 17 | 27 | 106 | 107 | 104 | 123 | 127 | 124 | 59 | 50 |
Working Capital Days | 43 | 28 | 20 | 19 | 60 | 41 | 71 | 85 | 69 | 67 | 29 | 31 |
ROCE % | 29% | 13% | 7% | 8% | 21% | 16% | 20% | 17% | 7% | 12% | 13% | 18% |
Documents
Announcements
- Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 18h
- Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 1d
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Disclosure under Regulation 30 of the SEBI (LODR), Regulations, 2015 / Resignation of Senior Management Personnel
- Compliance Certificate For The Period Ended March 31, 2024 2d
- Compliance Certificate As On March 31, 2024 19 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024TranscriptPPT
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Segments
Consumer Products Business
The company's consumer product segments provide a comprehensive range of products starting from Breakfast products to cooking essentials, products for Food preparation, Home comfort and home essentials. [1]
In FY22, fans accounted for ~28% of revenues of the consumer products business, followed by lighting (~12%), Morphy Richards brand (~6%), and other appliances (~54%). [2]