{"id":135249,"date":"2022-08-13T10:45:00","date_gmt":"2022-08-13T14:45:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135249"},"modified":"2022-10-28T10:49:06","modified_gmt":"2022-10-28T14:49:06","slug":"bajaj-electricals-limited-q1-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/bajaj-electricals-limited-q1-fy23-earnings-conference-call-insights\/","title":{"rendered":"Bajaj Electricals Limited Q1 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Bajaj Electricals Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/BAJAJELEC\/\">BAJAJELEC<\/a>) Q1 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:04:35] Chirag Lodaya of Valuequest asked about gross margin, the reason for QoQ being up almost 350 bp, but QoQ consumer margins being flat. Anuj Poddar MD answered that it\u2019s being looked at on a consolidated basis. But on a segmental basis, QonQ it\u2019s flat. At an underlying level, BAJAJELEC delivered improvement in margins on a real basis.<\/li>\n<\/ul>\n<ul>\n<li>[00:05:43] Chirag Lodaya with Valuequest also asked about margin trajectory ahead, if there will be pressure or improvement. Anuj Poddar MD said that the company expects margins to start improving from 2Q23. While added that the full benefit of commodity cost reduction in margin will be seen in 3Q23.<\/li>\n<\/ul>\n<ul>\n<li>[00:06:29] Chirag Lodaya with Valuequest enquired about 3-year CAGR growth for appliance, lighting and Morphy Richards. Anuj Poddar MD replied that on an overall basis it\u2019s about 7.4% on a 3\u2013year CAGR basis for the consumer business.<\/li>\n<\/ul>\n<ul>\n<li>[00:10:29] Nikhil Kale from Axis Capital asked about the outlook on the margins going forward. Anuj Poddar MD answered that long-term outlook is good. As a company BAJAJELEC wants to expand its EBIT margin on consumer, with a guide of 1 percentage point per annum. BAJAJELEC is targeting a double-digit margin in the very near future.<\/li>\n<\/ul>\n<ul>\n<li>[00:11:33] Paarth Gala of JM Financial enquired about rural side being under pressure. Anuj Poddar MD said that rural demand has been weaker than urban as BAJAJELEC\u2019s weightage of rural was higher. So on a consolidated basis, there was a slightly elevated impact. However, with good monsoon and MSP by govt., BAJAJELEC expects to see a bounce back in rural demand by 2Q and 3Q.<\/li>\n<\/ul>\n<ul>\n<li>[00:11:51] Paarth Gala of JM Financial also asked about an update on the demerger of the EPC business. Anuj Poddar MD said that the schemes have been filed with the stock exchanges. BAJAJELEC expects, unless there\u2019s any further queries, it will have full approval from the exchanges within Aug. Post that it will be filing for NCLT approval.<\/li>\n<\/ul>\n<ul>\n<li>[00:14:09] Hitesh Taunk from ICICI Direct asked about the price hikes taken during 1Q23. Anuj Poddar MD clarified the company has taken approx. 5% hike on average across various categories in April. BAJAJELEC planned a further hike in May, June but didn\u2019t take it looking at commodity prices starting to cool off.<\/li>\n<\/ul>\n<ul>\n<li>[00:17:13] Hitesh Taunk from ICICI Direct asked about the market share for leading products. Anuj Poddar MD said that though it doesn\u2019t publish market share, in numbers, BAJAJELEC has gained market share mainly in fans, followed by lighting and appliances.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:43] Akhilesh Bhandari with ICICI Prudential enquired about the gap between the price increase vs. the blended cost increase till 1Q23. Anuj Poddar MD answered that broadly for the last 4-5 quarters, BAJAJELEC has been running at a lag of 2-3 percentage points.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:25] Charanjit Singh from DSP asked that what will be expected market growth for kitchen appliances category. Anuj Poddar MD said that at an overall industry level, BAJAJELEC have been and will continue to have a higher growth.<\/li>\n<\/ul>\n<ul>\n<li>[00:28:55] Rakesh Roy from Indsec Securities asked about the new launches and product additions in the CP business. Anuj Poddar MD answered that regarding launches, one will see more launches in 3Q and 4Q compared to what\u2019s seen in 1Q and 2Q.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:46] Harshit Golecha asked if the company is planning for any inorganic growth in the near future. Anuj Poddar MD said the company does actively evaluate every opportunity that comes. However added that the opportunity should meet BAJAJELEC\u2019s strategic and financial parameters.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:52] Aakash Fadia from YES Securities asked about the update on logistics cost saving initiatives currently. Anuj Poddar MD answered that BAJAJELEC has not yet realized the full benefits of that.<\/li>\n<\/ul>\n<ul>\n<li>[00:47:25] Amit Mahawar from Edelweiss asked about the investment in each business specifically in the next 1-2 years. Anuj Poddar MD clarified that it\u2019s hard to quantify. In each business, what\u2019s required is invested. The investment is not so much of money, but of people to strengthen management leadership talent across the board.<\/li>\n<\/ul>\n<ul>\n<li>[00:53:12] Chirag Lodaya from Valuequest enquired that if in coming quarters, BAJAJELEC will see positive volume growth due to the sharp price increase. Anuj Poddar MD said that it will see positive volume growth. 2Q23 will be a blend of some of legacy inventory higher cost inventory, but BAJAJELEC will start seeing improvement in Q2.<\/li>\n<\/ul>\n<ul>\n<li>[00:54:14] Rakesh Roy with Indsec Securities asked about the segment contribution in fan business in 1Q23 and ratios for 4Q22. Anuj Poddar MD replied that in fans, premium was about 20%, economy and mid another 20% and rest the lower segment. In 4Q22, the ratio was slightly lower with premium at 14-15%.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Bajaj Electricals Limited (BAJAJELEC) Q1 FY23 Earnings Concall Q&amp;A Highlights: [00:04:35] Chirag Lodaya of Valuequest asked about gross margin, the reason for QoQ being up almost 350 bp, but QoQ consumer margins being flat. Anuj Poddar MD answered that it\u2019s being looked at on a consolidated basis. But on a segmental basis, [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Bajaj Electricals Limited Q1 FY23 Earnings Conference Call Insights #BAJAJELEC #Q1 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,6351,392],"tags":[9163,8214],"class_list":["post-135249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-consumer-stocks","category-earnings","tag-consumer-products","tag-home-appliances"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":148656,"url":"https:\/\/alphastreet.com\/india\/bajaj-electricals-limited-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":135249,"position":0},"title":"Bajaj Electricals Limited Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"June 14, 2023","format":false,"excerpt":"Key highlights from Bajaj Electricals Limited (BAJAJELEC) Q4 FY23 Earnings Concall Q&A Highlights: [00:04:31] Achal Lohade from JM Financial asked about information on the receivables for the CP business including lighting and elaborate on the increase in EPC receivables days and its future outlook. E.C. Prasad CFO said that total\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":135301,"url":"https:\/\/alphastreet.com\/india\/bajaj-electricals-limited-bajajelec-q1-fy23-earnings-concall-transcript\/","url_meta":{"origin":135249,"position":1},"title":"Bajaj Electricals Limited (BAJAJELEC) Q1 FY23 Earnings Concall Transcript","author":"Sahil","date":"August 12, 2022","format":false,"excerpt":"Bajaj Electricals Limited (NSE:BAJAJELEC) Q1 FY23 Earnings Concall dated Aug. 12, 2022 Corporate Participants: E. C. Prasad -- Chief Financial Officer Anuj Poddar -- Managing Director and Chief Executive Officer Analysts: Deepak Agarwal -- PhillipCapital India Private Limited -- Analyst Chirag Lodaya -- ValueQuest -- Analyst Nikhil Kale -- Axis\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":170302,"url":"https:\/\/alphastreet.com\/india\/bajaj-electricals-q1-fy26-earnings-results\/","url_meta":{"origin":135249,"position":2},"title":"Bajaj Electricals Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 19, 2025","format":false,"excerpt":"Bajaj Electricals Limited, a part of the Bajaj Group, is a diversified Fast-Moving Electrical Goods (FMEG) company with business interests in consumer products (appliances, fans, lighting), exports, and EPC services (illumination, transmission towers, power distribution). It also operates in premium home appliances and cookware segments under brands like Morphy Richards\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"BAJAJELEC Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BABAJAJ.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":139883,"url":"https:\/\/alphastreet.com\/india\/bajaj-electricals-ltd-nse-bajajelecq3-fy23-results-outtotal-income-rises-21-qoq\/","url_meta":{"origin":135249,"position":3},"title":"Bajaj Electricals Ltd.(NSE: BAJAJELEC)|Q3 FY23 Results Out|Total Income rises 12% yoy","author":"Divyansh_Kasana","date":"February 2, 2023","format":false,"excerpt":"Bajaj Electricals Limited (NSE: BAJAJELEC) is an Indian multinational conglomerate, focused on manufacturing and distribution of electrical goods and lighting products. The company operates in several segments including lighting, engineering and projects, appliances, fans and home comfort products. Bajaj Electricals has a widespread distribution network and a strong presence in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/33c9039e-b1ba-4be8-a2a0-b8339fc74c7c-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":137257,"url":"https:\/\/alphastreet.com\/india\/stove-kraft-ltd-stovekraft-q2-fy23-earnings-concall-transcript\/","url_meta":{"origin":135249,"position":4},"title":"Bajaj Electricals Limited (BAJAJELEC) Q2 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"November 8, 2022","format":false,"excerpt":"Bajaj Electricals Limited (NSE:BAJAJELEC) Q2 FY23 Earnings Concall dated Nov. 08, 2022 Corporate participants: Anirudh Chaukse -- Investor Relations Anuj Poddar -- Managing Director and Chief Executive Officer E.C. Prasad -- Chief Financial Officer Analysts: Manoj Gori -- Equirus Securities -- Analyst Achal Lohade -- JM Financial -- Analyst Rahul\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141248,"url":"https:\/\/alphastreet.com\/india\/bajaj-electricals-limitednse-bajajelec-q3-fy23-results-out-total-income-rises-12-yoy\/","url_meta":{"origin":135249,"position":5},"title":"Bajaj Electricals Limited(NSE: BAJAJELEC): Q3 FY23 Results Out; Total Income rises 12% YoY","author":"Divyansh_Kasana","date":"February 13, 2023","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135249"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}