Bajaj Electricals Ltd

Bajaj Electrical Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bajaj Electricals Ltd

₹ 336 -1.19%
22 May - close price
bajajelectricals.com BSE: 500031 NSE: BAJAJELEC
About

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]

Key Points

Business Profile[1]
Bajaj Electricals Limited operates in the Consumer Products (CP) and Lighting Solutions (LS) segments. The company specializes in home appliances, kitchen appliances, fans, lighting solutions, and professional lighting services. It is in top 2-3 players in the other appliances and in top 5 in fans and lighting categories

Website BSE NSE
  • Market Cap ₹ 3,872 Cr.
  • Current Price ₹ 336
  • High / Low ₹ 711 / 330
  • Stock P/E
  • Book Value ₹ 126
  • Dividend Yield 0.89 %
  • ROCE 4.21 %
  • ROE -0.29 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 2.66 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.49% over past five years.
  • Company has a low return on equity of 5.08% over last 3 years.
  • Company's cost of borrowing seems high

* 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

Consumer Discretionary Consumer Durables Consumer Durables Household Appliances

Part of BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,292 1,112 1,113 1,228 1,188 1,155 1,118 1,290 1,265 1,065 1,107 1,051 1,240
1,197 1,043 1,038 1,171 1,138 1,080 1,067 1,202 1,172 1,031 1,045 1,038 1,196
Operating Profit 95 69 75 58 50 75 52 87 93 33 62 13 43
OPM % 7% 6% 7% 5% 4% 7% 5% 7% 7% 3% 6% 1% 3%
20 23 6 43 22 11 15 13 38 24 8 -14 -46
Interest 12 12 14 20 18 16 17 19 18 18 13 13 13
Depreciation 22 21 27 30 30 32 35 36 41 37 37 35 33
Profit before tax 80 59 41 50 24 38 15 45 71 2 20 -49 -49
Tax % 35% 27% 33% 26% -20% 27% 12% 27% 17% 27% 28% -41% 32%
52 43 27 37 29 28 13 33 59 2 15 -29 -64
EPS in Rs 4.52 3.76 2.37 3.25 2.54 2.44 1.12 2.89 5.12 0.14 1.27 -2.53 -5.57
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4,232 4,590 4,254 4,697 6,656 4,975 4,572 4,768 4,889 4,639 4,826 4,462
4,143 4,326 4,011 4,403 6,308 4,768 4,271 4,541 4,515 4,379 4,519 4,311
Operating Profit 88 264 243 293 348 207 302 227 375 260 307 151
OPM % 2% 6% 6% 6% 5% 4% 7% 5% 8% 6% 6% 3%
24 48 36 -36 65 53 84 88 46 82 76 -29
Interest 104 108 80 59 116 169 76 53 44 63 70 56
Depreciation 29 27 30 34 38 68 69 57 74 110 144 142
Profit before tax -21 177 168 164 259 22 241 205 303 169 170 -75
Tax % -33% 38% 36% 49% 36% 101% 24% 25% 29% 22% 21% 2%
-14 110 108 84 167 -0 184 154 216 132 133 -77
EPS in Rs -1.25 9.85 9.57 7.39 14.69 -0.01 16.04 13.36 18.80 11.44 11.57 -6.70
Dividend Payout % -108% 26% 26% 43% 21% 0% 0% 22% 21% 26% 26% -45%
Compounded Sales Growth
10 Years: 0%
5 Years: 0%
3 Years: -3%
TTM: -8%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -104%
Stock Price CAGR
10 Years: 5%
5 Years: -20%
3 Years: -33%
1 Year: -49%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 5%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 20 20 20 20 20 23 23 23 23 23 23 23
Reserves 667 736 851 924 1,057 1,357 1,582 1,762 1,884 1,418 1,536 1,436
408 899 647 723 1,582 1,079 541 70 101 215 243 159
1,727 1,305 1,569 1,805 2,500 2,100 2,105 2,158 2,985 2,177 2,251 2,507
Total Liabilities 2,822 2,960 3,087 3,473 5,160 4,559 4,250 4,013 4,993 3,833 4,053 4,125
278 276 310 316 322 404 461 422 770 916 950 909
CWIP 3 21 8 6 9 11 18 44 42 63 13 1
Investments 59 80 80 14 51 53 38 109 47 35 67 267
2,482 2,583 2,688 3,136 4,778 4,091 3,734 3,439 4,134 2,819 3,023 2,948
Total Assets 2,822 2,960 3,087 3,473 5,160 4,559 4,250 4,013 4,993 3,833 4,053 4,125

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
121 305 437 -103 -602 627 660 936 449 354 347 619
-83 -53 -90 36 -127 -46 -110 -331 -88 -449 -195 -380
-56 -239 -368 64 718 -491 -605 -533 -139 -133 -146 -137
Net Cash Flow -19 13 -22 -3 -11 90 -56 72 223 -227 6 103
Free Cash Flow 59 255 390 -138 -658 599 650 902 378 223 318 534
CFO/OP 172% 137% 198% -17% -133% 325% 223% 432% 126% 137% 114% 414%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 111 112 115 136 144 150 121 86 83 92 97 93
Inventory Days 58 60 76 68 64 76 118 104 106 85 79 64
Days Payable 142 66 84 100 85 99 115 134 195 206 212 56
Cash Conversion Cycle 27 106 107 104 123 127 124 57 -6 -30 -35 101
Working Capital Days 0 2 -4 17 10 19 30 25 39 12 35 0
ROCE % 8% 21% 16% 20% 17% 7% 12% 13% 18% 13% 12% 4%

Insights

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Mar 2015 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of Distributors
Number

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Number of Retail Outlets
Number (Lakhs)
Production Volume - Fans
Million Units
Capacity Utilization - Fans (Chakan)
%
Installed Capacity - Fans
Million Units per annum
New SKUs Introduced
Number
Production Volume - LED Units (Nashik)
Million Units
Production Volume - Storage Water Heaters
Lakh Units
Lighting B2B Order Book
INR Crores
Revenue Contribution of New Products (Launched <3yrs)
%
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
62.85% 62.85% 62.85% 62.80% 62.78% 62.76% 62.72% 62.72% 62.72% 62.71% 62.70% 62.70%
10.92% 10.49% 10.41% 10.18% 7.93% 8.23% 7.82% 7.79% 7.89% 7.75% 6.48% 6.50%
11.96% 12.06% 12.11% 12.61% 14.75% 15.59% 15.91% 15.79% 15.57% 15.87% 17.08% 16.88%
14.26% 14.60% 14.62% 14.41% 14.53% 13.41% 13.54% 13.70% 13.83% 13.68% 13.74% 13.94%
No. of Shareholders 60,38963,10165,60063,09459,46061,77465,27968,26368,57377,02977,07181,287

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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