Bajaj Electricals Ltd

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

Bajaj Electricals Ltd

₹ 787 0.58%
03 Dec - 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

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]

Website BSE NSE
  • Market Cap ₹ 9,105 Cr.
  • Current Price ₹ 787
  • High / Low ₹ 1,120 / 737
  • Stock P/E 84.6
  • Book Value ₹ 127
  • Dividend Yield 0.38 %
  • ROCE 12.7 %
  • ROE 7.74 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 24.2%
  • Company's working capital requirements have reduced from 28.5 days to 15.1 days

Cons

  • Stock is trading at 6.20 times its book value
  • The company has delivered a poor sales growth of -6.97% over past five years.
  • Company has a low return on equity of 9.27% over last 3 years.
  • Earnings include an other income of Rs.91.0 Cr.
  • 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

Sector: Consumer Durables Industry: Domestic Appliances

Part of Nifty Microcap 250 Nifty Total Market BSE SmallCap BSE Allcap BSE Consumer Discretionary

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,297 1,312 1,327 1,124 1,220 1,308 1,292 1,112 1,113 1,228 1,188 1,155 1,118
1,205 1,220 1,264 1,051 1,127 1,204 1,197 1,043 1,038 1,171 1,138 1,080 1,067
Operating Profit 92 92 63 73 94 104 95 69 75 58 50 75 52
OPM % 7% 7% 5% 6% 8% 8% 7% 6% 7% 5% 4% 7% 5%
21 10 19 9 20 12 20 23 6 43 22 11 15
Interest 19 16 10 7 10 15 12 12 14 20 18 16 17
Depreciation 15 16 16 15 18 16 22 21 27 30 30 32 35
Profit before tax 79 70 56 60 86 86 80 59 41 50 24 38 15
Tax % 21% 26% 24% 26% 26% 26% 35% 27% 33% 26% -20% 27% 12%
62 52 42 44 64 63 52 43 27 37 29 28 13
EPS in Rs 5.40 4.49 3.66 3.87 5.56 5.52 4.52 3.76 2.37 3.25 2.54 2.44 1.12
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
3,351 4,002 4,232 4,590 4,254 4,697 6,656 4,975 4,572 4,786 4,889 4,639 4,690
3,239 3,920 4,143 4,326 4,011 4,403 6,308 4,768 4,271 4,535 4,515 4,379 4,455
Operating Profit 112 82 88 264 243 293 348 207 302 251 375 260 234
OPM % 3% 2% 2% 6% 6% 6% 5% 4% 7% 5% 8% 6% 5%
41 15 24 48 36 -36 65 53 84 59 46 82 91
Interest 69 78 104 108 80 59 116 169 76 69 44 63 71
Depreciation 14 25 29 27 30 34 38 68 69 63 74 110 126
Profit before tax 69 -6 -21 177 168 164 259 22 241 179 303 169 128
Tax % 26% -11% -33% 38% 36% 49% 36% 101% 24% 23% 29% 22%
51 -5 -14 110 108 84 167 -0 184 137 216 132 108
EPS in Rs 4.62 -0.48 -1.25 9.85 9.57 7.39 14.69 -0.01 16.04 11.91 18.80 11.44 9.35
Dividend Payout % 39% -282% -108% 26% 26% 43% 21% 0% 0% 25% 21% 26%
Compounded Sales Growth
10 Years: 1%
5 Years: -7%
3 Years: 0%
TTM: -3%
Compounded Profit Growth
10 Years: 38%
5 Years: -5%
3 Years: -6%
TTM: -44%
Stock Price CAGR
10 Years: 15%
5 Years: 22%
3 Years: -6%
1 Year: -22%
Return on Equity
10 Years: 9%
5 Years: 8%
3 Years: 9%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 20 20 20 20 20 20 20 23 23 23 23 23 23
Reserves 709 690 667 736 851 924 1,057 1,357 1,582 1,722 1,884 1,418 1,440
166 348 408 899 647 723 1,582 1,079 541 82 101 215 229
1,263 1,627 1,727 1,305 1,569 1,805 2,500 2,100 2,105 2,175 2,985 2,177 2,177
Total Liabilities 2,157 2,685 2,822 2,960 3,087 3,473 5,160 4,559 4,250 4,002 4,993 3,833 3,869
226 249 278 276 310 316 322 404 461 685 770 916 937
CWIP 6 3 3 21 8 6 9 11 18 43 42 63 53
Investments 30 67 59 80 80 14 51 53 38 49 47 35 41
1,895 2,366 2,482 2,583 2,688 3,136 4,778 4,091 3,734 3,225 4,134 2,819 2,838
Total Assets 2,157 2,685 2,822 2,960 3,087 3,473 5,160 4,559 4,250 4,002 4,993 3,833 3,869

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
141 -7 121 305 437 -103 -602 627 660 931 449 354
-0 -76 -83 -53 -90 36 -127 -46 -110 -86 -88 -449
-144 87 -56 -239 -368 64 718 -491 -605 -772 -139 -133
Net Cash Flow -4 4 -19 13 -22 -3 -11 90 -56 73 223 -227

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 102 113 111 112 115 136 144 150 121 87 83 92
Inventory Days 60 57 58 60 76 68 64 76 118 109 106 85
Days Payable 139 152 142 66 84 100 85 99 115 136 195 206
Cash Conversion Cycle 23 17 27 106 107 104 123 127 124 59 -6 -30
Working Capital Days 28 20 19 60 41 71 85 69 67 29 42 15
ROCE % 13% 7% 8% 21% 16% 20% 17% 7% 12% 13% 18% 13%

Shareholding Pattern

Numbers in percentages

7 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
63.01% 62.98% 62.96% 62.91% 62.89% 62.86% 62.85% 62.85% 62.85% 62.80% 62.78% 62.76%
11.75% 10.64% 10.51% 10.81% 11.26% 11.22% 10.92% 10.49% 10.41% 10.18% 7.93% 8.23%
11.61% 12.04% 12.41% 12.30% 12.23% 12.39% 11.96% 12.06% 12.11% 12.61% 14.75% 15.59%
13.64% 14.35% 14.12% 13.98% 13.62% 13.51% 14.26% 14.60% 14.62% 14.41% 14.53% 13.41%
No. of Shareholders 66,82571,89772,57370,31966,01863,05960,38963,10165,60063,09459,46061,774

* 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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