Bajaj Electricals Limited(NSE: BAJAJELEC): Q3 FY23 Results Out; Total Income rises 12% YoY

Bajaj Electricals Limited (NSE: BAJAJELEC) is an Indian multinational company that was founded in 1938. It is headquartered in Mumbai, Maharashtra, and operates in a variety of segments within the electrical and consumer goods industries, including lighting, appliances, fans, and engineering and projects. The company is best known for its consumer-oriented products, which are sold under the brand name “Bajaj”.

Bajaj Electricals Limited has a strong presence in India, as well as a growing presence in international markets. The company has a wide range of products, including LED lighting, home appliances, fans, and engineering and project solutions. It has a reputation for quality, innovation, and customer service, and is committed to sustainability and corporate social responsibility.

Bajaj Electricals Limited has invested heavily in research and development, and has introduced several new products and technologies to the market. During the third quarter of financial year 2023 (Q3FY23), the company achieved revenue from operations of Rs 1,484 crore, which represents a growth of 12% compared to the same quarter of the previous year (Rs 1,320 crore).

The company’s Consumer Products (CP) segment reported total revenue of Rs 1,039 crore, which represents a growth of 9% compared to the same quarter of the previous year. The CP segment recorded an EBIT of Rs 78 crore with operating margins at 7.5%. On the other hand, the Lighting Solutions (LS) segment recorded total revenue of Rs 270 crore, which represents a de-growth of 2% compared to the same quarter of the previous year.

The LS segment recorded an EBIT of Rs 17 crore with operating margins at 6.4%. The Engineering, Procurement, and Construction (EPC) segment reported total revenue of Rs 175 crore, which represents a growth of 87% compared to the same quarter of the previous year. The EPC segment recorded a profit of Rs 1 crore, which represents a significant improvement compared to a loss of Rs 9 crore in the corresponding quarter of the previous year.

For the 9 months period ending December 31, 2023 (9MFY23), the company generated positive cashflow from operations of Rs 375 crore and had surplus investments of Rs 380 crore.

In conclusion, Bajaj Electricals Limited has achieved impressive results in Q3FY23, with growth in revenue from operations, improvement in profitability, and strong cashflow from operations. The CP segment has crossed Rs 1,000 crore in revenue for the quarter, which has helped achieve a PBT growth of 25.2% in a tough market. The EPC segment has delivered positive EBIT for the quarter, along with a strong focus on collection of receivables.