Earnings | Bajaj Electricals Ltd (NSE:BAJAJELEC): Q3FY23 Results Out; Total Income rise 12% YoY

Bajaj Electricals Ltd (NSE:BAJAJELEC) is an Indian consumer electrical equipment manufacturing company. The company operates through two main segments: Consumer Products and Engineering, Procurement and Construction (EPC). The Consumer Products segment includes products such as lighting, fans, home appliances, and other consumer durables. The EPC segment is involved in projects such as transmission lines, substations, and rural electrification. Bajaj Electricals has a strong presence in the Indian market and also exports its products to various countries.

The company has reported its Q3FY23 results, with a 12% YoY growth in revenue from operations to Rs 1,484 crore. It achieved a profit before tax of Rs 83 crore and profit after tax of Rs 61 crore, representing a growth of 25.2% YoY. The Consumer Products (CP) segment earned total revenue of Rs 1,039 crore, showing a 9% YoY growth. However, CP recorded a decline in EBIT of Rs 78 crore as against Rs 91 crore in the corresponding quarter of the previous year. The Lighting Solutions (LS) segment earned total revenue of Rs 270 crore, with a de-growth of 2% YoY. LS recorded an EBIT of Rs 17 crore, showing a significant increase compared to Rs 10 crore in the corresponding quarter of the previous year. The EPC segment achieved a total revenue of Rs 175 crore, with a growth of 87% YoY, and recorded a profit of Rs 1 crore as against a loss of Rs 9 crore in the corresponding quarter of the previous year.

During 9MFY23, the company generated a positive cash flow from operations of Rs 375 crore. Cash equivalents and surplus investments were at Rs 380 crore. The company has reported a total income of Rs 1502.09 crore during the period ended December 31, 2022, compared to Rs 1243.51 crore during the period ended September 30, 2022. The net profit for the period ended December 31, 2022, was Rs 61.12 crore, while the EPS was Rs 5.30.

Mr. Shekhar Bajaj, Chairman of Bajaj Electricals Limited, has expressed his satisfaction with the company’s performance, particularly with the Consumer Products segment crossing Rs 1,000 crore for the quarter, which helped achieve a PBT growth of 25.2%. Additionally, the EPC segment delivered a positive EBIT for the current quarter with a strong focus on the collection of receivables.