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Bajaj Electricals

₹930 -1 | 0.1%

Market Cap ₹10713 Cr.

Stock P/E 69.7

P/B 7.7

Current Price ₹930

Book Value ₹ 120.3

Face Value 2

52W High ₹1327.7

Dividend Yield 0.43%

52W Low ₹ 890

Bajaj Electricals Research see more...

Overview Inc. Year: 1938Industry: Consumer Durables - Domestic Appliances

Bajaj Electricals Ltd is an India-based organization that is basically engaged in the advertising and marketing of numerous client household and commercial items. The Company's segments consist of Consumer Products and Engineering & Projects. The Consumer Products section consists of appliances, fans and consumer lighting fixtures products. The Engineering & Projects segment consists of transmission line towers, electricity distribution and illumination. The Company additionally includes wind energy. Its kitchen and domestic home equipment consist of mixers, meals processors, juicer mixer grinders, induction cookers, rice cookers, oven toaster grill (OTG), microwave ovens, non-electric powered kitchen appliances (NEKA), pressure cookers, fuel stoves, water heaters, irons, air coolers and room heaters. The Company's various fans merchandise, along with ceiling fans, table wall pedestal, air circulators and home exhaust fans. Its lighting fixtures products consists of LED lamps, battens, panels and electrical add-ons.

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Bajaj Electricals Share Price

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Bajaj Electricals Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 1302 1320 1334 1129 1159 1309 1490 1112 1113 1228
Other Income 21 18 21 8 5 11 32 20 29 43
Total Income 1323 1337 1355 1137 1163 1321 1522 1132 1142 1271
Total Expenditure 1208 1228 1271 1056 1057 1204 1405 1045 1056 1171
Operating Profit 116 110 84 81 106 117 118 88 86 100
Interest 19 16 11 7 9 15 14 12 14 20
Depreciation 17 17 18 17 17 17 24 23 27 30
Exceptional Income / Expenses 0 -10 -4 0 0 0 0 0 0 0
Profit Before Tax 79 66 52 58 79 84 79 53 45 50
Provision for Tax 17 18 13 16 21 22 28 15 13 13
Profit After Tax 63 48 39 42 58 62 52 38 32 37
Adjustments 0 0 1 1 2 -1 0 -0 -4 0
Profit After Adjustments 63 48 39 43 60 61 52 37 27 37
Adjusted Earnings Per Share 5.5 4.2 3.4 3.7 5.2 5.3 4.5 3.2 2.4 3.2

Bajaj Electricals Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 4612 4262 4707 6679 4987 4585 4813 5429 4943
Other Income 23 44 65 65 46 74 68 101 124
Total Income 4635 4306 4772 6745 5033 4659 4881 5530 5067
Total Expenditure 4353 4028 4425 6340 4779 4286 4563 5097 4677
Operating Profit 282 278 347 405 254 372 318 434 392
Interest 101 80 59 118 171 76 70 48 60
Depreciation 27 30 34 44 74 75 69 82 104
Exceptional Income / Expenses 0 0 -79 0 0 25 -13 0 0
Profit Before Tax 154 163 164 241 7 246 166 303 227
Provision for Tax 58 60 81 88 17 57 42 87 69
Profit After Tax 96 102 84 154 -10 189 124 216 159
Adjustments -0 0 0 3 1 2 4 0 -4
Profit After Adjustments 95 102 84 156 -9 191 129 216 153
Adjusted Earnings Per Share 9.2 9.8 8 14.9 -0.8 16.6 11.2 18.8 13.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 13% 3% 3% 0%
Operating Profit CAGR 36% 20% 5% 0%
PAT CAGR 74% 0% 21% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -22% -6% 12% 11%
ROE Average 12% 11% 9% 10%
ROCE Average 19% 15% 14% 16%

Bajaj Electricals Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 751 863 937 1056 1348 1578 1732 1907
Minority's Interest 0 0 0 0 0 0 -26 0
Borrowings 96 17 11 213 80 26 12 0
Other Non-Current Liabilities 479 32 5 35 133 70 35 153
Total Current Liabilities 1973 2110 2439 3818 2961 2542 2158 2617
Total Liabilities 3298 3022 3392 5121 4522 4215 3910 4677
Fixed Assets 283 310 316 393 469 405 623 688
Other Non-Current Assets 996 587 400 738 754 840 676 577
Total Current Assets 2019 2123 2674 3988 3297 2967 2594 3410
Total Assets 3298 3022 3392 5121 4522 4215 3910 4677

Bajaj Electricals Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 0 47 25 22 11 102 46 119
Cash Flow from Operating Activities 0 437 -103 -621 626 658 914 450
Cash Flow from Investing Activities 0 -91 36 -104 -41 -110 -71 -88
Cash Flow from Financing Activities 0 -368 64 713 -495 -604 -771 -139
Net Cash Inflow / Outflow 0 -21 -3 -11 90 -56 72 223
Closing Cash & Cash Equivalent 0 25 22 11 102 46 119 342

Bajaj Electricals Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 9.22 9.84 8 14.9 -0.82 16.64 11.19 18.79
CEPS(Rs) 11.87 12.72 11.24 18.82 5.57 23.06 16.86 25.89
DPS(Rs) 2.8 2.8 3.5 3.5 0 0 3 4
Book NAV/Share(Rs) 71.81 81.98 88.6 99.72 117.4 136.75 149.69 164.11
Core EBITDA Margin(%) 5.58 5.45 5.98 5.09 4.18 6.51 5.2 6.12
EBIT Margin(%) 5.49 5.65 4.74 5.37 3.57 7.04 4.9 6.48
Pre Tax Margin(%) 3.3 3.78 3.49 3.61 0.14 5.37 3.45 5.59
PAT Margin (%) 2.06 2.38 1.77 2.3 -0.21 4.12 2.58 3.98
Cash Profit Margin (%) 2.64 3.07 2.49 2.96 1.27 5.76 4.02 5.49
ROA(%) 2.9 3.23 2.61 3.61 -0.21 4.33 3.06 5.04
ROE(%) 12.87 12.82 9.41 15.56 -0.86 13.02 7.57 11.98
ROCE(%) 25.17 19.48 14.22 16.66 7.18 14.81 12.34 19.1
Receivable days 106.95 114.82 119.61 119.48 171.01 141.76 100.55 88.07
Inventory Days 39.78 45.76 44.51 38.51 55.96 67.09 75.24 69.58
Payable days 59.93 74.39 86.64 73.23 104.61 110.77 121.75 137.89
PER(x) 20.13 31.01 68.54 36.59 0 58.75 96.09 56
Price/Book(x) 2.59 3.72 6.19 5.47 2.28 7.15 7.18 6.41
Dividend Yield(%) 1.47 0.9 0.62 0.63 0 0 0.28 0.38
EV/Net Sales(x) 0.46 0.87 1.37 1.09 0.78 2.53 2.55 2.16
EV/Core EBITDA(x) 7.57 13.37 18.55 18.01 15.33 31.16 38.47 27.07
Net Sales Growth(%) 0 -7.59 10.46 41.89 -25.33 -8.07 4.98 12.8
EBIT Growth(%) 0 -4.71 -8.08 60.61 -50.4 81.35 -26.86 49.05
PAT Growth(%) 0 6.87 -18.14 83.63 -106.7 1936.78 -34.16 73.77
EPS Growth(%) 0 6.68 -18.74 86.34 -105.47 2139.51 -32.75 67.92
Debt/Equity(x) 0.36 0.73 0.78 1.52 0.72 0.3 0.03 0
Current Ratio(x) 1.02 1.01 1.1 1.04 1.11 1.17 1.2 1.3
Quick Ratio(x) 0.77 0.74 0.86 0.83 0.88 0.78 0.74 0.89
Interest Cover(x) 2.51 3.02 3.79 3.05 1.04 4.22 3.38 7.27
Total Debt/Mcap(x) 0.14 0.2 0.13 0.28 0.32 0.04 0 0

Bajaj Electricals Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 63.01 62.98 62.96 62.91 62.89 62.86 62.85 62.85 62.85 62.8
FII 11.75 10.64 10.51 10.8 11.25 11.21 10.91 10.48 10.4 10.16
DII 11.61 12.04 12.41 12.31 12.25 12.41 11.98 12.07 12.13 12.62
Public 13.64 14.35 14.12 13.98 13.62 13.51 14.26 14.6 14.62 14.41
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 11% over the last 3 years.
  • Debtor days have increased from 121.75 to 137.89days.
  • Stock is trading at 7.7 times its book value.

* 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.

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