Bajaj Electricals Ltd

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

Bajaj Electricals Ltd

₹ 798 1.40%
04 Dec 1:55 p.m.
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 ₹ 9,201 Cr.
  • Current Price ₹ 798
  • High / Low ₹ 1,120 / 737
  • Stock P/E 85.4
  • Book Value ₹ 127
  • Dividend Yield 0.38 %
  • ROCE 12.7 %
  • ROE 7.70 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 24.8%
  • Company's working capital requirements have reduced from 28.0 days to 15.1 days

Cons

  • Stock is trading at 6.27 times its book value
  • The company has delivered a poor sales growth of -6.98% over past five years.
  • Company has a low return on equity of 9.06% 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 BSE SmallCap BSE Allcap BSE Consumer Discretionary Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
1,302 1,320 1,334 1,129 1,226 1,309 1,292 1,112 1,113 1,228 1,188 1,155 1,118
1,208 1,228 1,271 1,056 1,130 1,204 1,197 1,045 1,038 1,171 1,138 1,080 1,067
Operating Profit 94 92 63 73 96 106 95 68 75 58 50 75 52
OPM % 7% 7% 5% 6% 8% 8% 7% 6% 7% 5% 4% 7% 5%
21 8 17 7 18 10 20 20 6 43 22 11 15
Interest 19 16 11 7 10 15 12 12 14 20 18 16 17
Depreciation 17 17 18 17 19 17 22 23 27 30 30 32 35
Profit before tax 79 66 52 57 84 83 80 53 41 50 24 38 15
Tax % 21% 27% 26% 28% 26% 27% 35% 29% 33% 26% -20% 27% 12%
63 48 39 41 62 61 52 37 27 37 29 28 13
EPS in Rs 5.48 4.20 3.42 3.74 5.24 5.31 4.52 3.23 2.37 3.25 2.54 2.44 1.12
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
4,590 4,254 4,697 6,662 4,985 4,584 4,811 4,889 4,639 4,690
4,326 4,011 4,414 6,325 4,780 4,281 4,560 4,515 4,379 4,455
Operating Profit 264 243 283 338 205 303 250 375 260 234
OPM % 6% 6% 6% 5% 4% 7% 5% 8% 6% 5%
46 30 -26 65 46 95 55 46 82 91
Interest 108 80 59 118 171 76 70 44 63 71
Depreciation 27 30 34 44 74 75 69 74 110 126
Profit before tax 174 163 164 241 7 246 166 303 168 128
Tax % 38% 37% 49% 36% 244% 23% 25% 29% 22%
108 102 84 154 -10 189 124 216 131 108
EPS in Rs 9.62 9.08 7.39 13.76 -0.82 16.64 11.19 18.78 11.38 9.35
Dividend Payout % 26% 28% 43% 23% 0% 0% 27% 21% 26%
Compounded Sales Growth
10 Years: %
5 Years: -7%
3 Years: 0%
TTM: -3%
Compounded Profit Growth
10 Years: %
5 Years: -3%
3 Years: -5%
TTM: -42%
Stock Price CAGR
10 Years: 15%
5 Years: 22%
3 Years: -6%
1 Year: -23%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 9%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 23 23 23 23 23 23
Reserves 734 843 916 1,035 1,326 1,555 1,709 1,884 1,418 1,440
899 647 723 1,590 1,084 548 91 101 215 229
1,305 1,569 1,806 2,533 2,135 2,142 2,169 2,985 2,177 2,177
Total Liabilities 2,957 3,078 3,466 5,179 4,567 4,268 3,992 4,993 3,833 3,869
276 310 316 393 469 531 754 770 916 937
CWIP 21 8 6 9 11 18 44 42 63 53
Investments 77 72 8 11 13 5 5 47 35 41
2,583 2,688 3,136 4,766 4,075 3,714 3,189 4,134 2,819 2,838
Total Assets 2,957 3,078 3,466 5,179 4,567 4,268 3,992 4,993 3,833 3,869

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
305 437 -103 -621 626 658 914 449 354
-53 -90 36 -103 -41 -110 -70 -88 -449
-239 -368 64 713 -495 -604 -771 -139 -133
Net Cash Flow 13 -22 -3 -11 90 -56 73 223 -227

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 112 115 136 144 150 120 86 83 92
Inventory Days 60 76 68 64 77 120 111 106 85
Days Payable 66 84 100 85 100 117 137 195 206
Cash Conversion Cycle 106 107 104 123 127 124 60 -6 -30
Working Capital Days 60 41 71 84 67 66 27 42 15
ROCE % 15% 19% 17% 7% 12% 12% 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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