Page 2 - Bajaj Electricals

Bajaj Electricals to increase its play in premium segment, says CEO Poddar

Bajaj Electricals is increasing its play in the premium range in appliances and other segments, and expects the revenue contribution from upscale products to rise as it has lined up several new launches, MD & CEO Anuj Poddar said. The company has recently launched a new brand 'Nex', which will target upscale urban consumers with its premium range of appliances. Despite a slowdown in some segments, Bajaj Electricals will have new product launches in the premium space and in Morphy Richards in the latter half of this year. Overall, as a company, it expects a lot more contribution coming from the premium segment, he said. "We are focusing on two things -- brand upliftment and product premiumisation -- by launching new products," Poddar told PTI. Both of these are helping the company grow market share and the Bajaj group firm will continue to focus on this strategy, he added. Over the current market scenario, Poddar further said there is a "demand slowdown" in the market for ...

Bajaj Electricals Q4 profit up 34% YoY to Rs 52 cr, total revenue rises 12%

Bajaj Electricals on Tuesday reported 34.08 per cent rise in consolidated net profit at Rs 51.85 crore for the fourth quarter ended March 31, 2023. The company had posted a net profit of Rs 38.67 crore in the year-ago period, Bajaj Electricals said in a regulatory filing. Revenue from operations was up at Rs 1,473.54 crore during the quarter under review as against Rs 1,293.26 crore in the year-ago period. Total expenses were at Rs 1,442.73 crore as compared to Rs 1,299.61 crore a year ago. The total revenue of Bajaj Electricals in March quarter 2023 was at Rs 1,522.11 crore, up 12.3 per cent from the year-ago period. Revenue from the consumer products segment was up 8.64 per cent at Rs 986.53 crore in the quarter. It was at Rs 907.99 crore a year ago. The lighting solutions segment contributed Rs 305.44 crore revenue as against Rs 302.30 crore in Q4 FY22. Revenue from engineering, procurement and construction (EPC) was up 59.75 per cent to Rs 198.14 crore in Q4 FY23. In the fi

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Small Cap World Fund pares 2% stake in Bajaj Electricals for Rs 234 cr

Small Cap World Fund on Wednesday divested nearly 2 per cent stake in electrical equipment manufacturing company Bajaj Electricals for Rs 234 crore. According to the bulk deal data available with the BSE, Small Cap World Fund Inc offloaded more than 22.36 lakh shares, amounting to 1.94 per cent stake in the firm. The shares were sold at an average price of Rs 1,045 apiece, taking the transaction value to Rs 233.76 crore. Post the latest transaction, Small Cap World Fund's shareholding has reduced to 3.36 per cent from 5.30 per cent (as of March quarter) in the Mumbai-based firm. Shares of Bajaj Electricals settled 2.40 per cent higher at Rs 1,068.60 apiece on the BSE.

Bajaj Electricals Q3 profit rises 27%, amid high demand of consumer goods

India's Bajaj Electricals Ltd reported a near 27% surge in third-quarter profit on Thursday, aided by higher demand for consumer goods

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HDFC Bank issues e-BG, AEBC appoints Sanjay Khanna as CEO, and more

This is a transformational change, and the Bank will migrate to eBG to benefit all its customers, the bank said

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Bajaj Electricals elevates Anuj Poddar as Managing Director, CEO

Consumer durable products maker Bajaj Electricals on Tuesday elevated its Executive Director Anuj Poddar to Managing Director and Chief Executive Officer (CEO). The company has separated the post of Chairman & Managing Director and its patron Shekhar Bajaj will continue as Executive Chairman of the company, said a statement from Bajaj Electricals. "The separation of the Chairman and Managing Director positions is in continuation of the professionalisation of the management of the company and marks the company's commitment to strong corporate governance standards," said Bajaj Electricals. This announcement comes on the back of the ongoing transformation journey and keeping in mind the company's long-term strategy, it added. "Over the last three years, Bajaj Electricals has undertaken multiple initiatives, including strengthening of the leadership, streamlining of its corporate structure, the turnaround of its performance and balance sheet and the planned demerger of the EPC ...

Bajaj Electricals Q1 net profit at Rs 41.19 cr; sales up 42% to Rs 1,202 cr

The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing.

Beaten down consumer durables still weak; Bajaj Electricals may buck trend

Voltas, Havells, Blue Star and Whirlpool need to conquer their crucial hurdles to exhibit bullishness.

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Bajaj Electricals Q4FY22 consolidated net profit down 29% at Rs 39 crore

But total revenue from operations was up 6.02 per cent at Rs 1,334.32 crore during the quarter under review as against Rs 1,258.47 crore in the year-ago period

Bajaj Electricals extends licence pact with Morphy Richards for 15 years

Morphy Richards is part of the Irish international electrical appliances group Glen Dimplex

Bajaj Electricals dips 5% in a firm market on growth concerns

Demand in the consumer product segment slowed down in Q3FY22, largely due to weaker demand in rural markets

Bajaj Electricals to demerge its power transmission & distribution business

Bajaj Electricals Ltd would demerge its power transmission and distribution (T&D) business into a separate company in a move to create a sector-focused firm and streamline the management structure. The board of Shekhar Bajaj-led company on Tuesday approved the scheme of arrangement between Bajaj Electricals (the demerged company) and Bajel Projects Ltd (the resulting company) subject to the approval of shareholders, said a regulatory filing. As per the scheme, 1 equity share of face value of Rs 2 each fully paid-up of Bajel Projects will be issued for every 1 equity share of face value Rs 2 each fully paid-up held by equity shareholders of Bajaj Electricals, it added. "The equity shares of the resulting company shall be listed on BSE and NSE, post the effectiveness of the scheme. The shareholders of the company will be issued equity shares in the resulting company in the same proportion as their holding in the company," it said. The segregation will enable both the companies to ...

Bajaj Electricals net profit down 51% at Rs 48.17 cr in December quarter

Bajaj Electricals Ltd on Tuesday reported a decline of 50.94 per cent in its consolidated net profit to Rs 48.17 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 98.19 crore in the October-December quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing. Its total revenue from operations was down 12.02 per cent to Rs 1,319.81 crore during the quarter under review as against Rs 1,500.14 crore in the corresponding period of the previous fiscal. Bajaj Electricals' total expenses were at Rs 1,261.50 crore, down 9.16 per cent in Q3/FY 2021-22, as against Rs 1,388.80 crore in the year-ago period. Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said: "This quarter has continued to witness the impact of increased commodity costs coupled with subdued demand scenario, leading to a deferral of price hikes for our Consumer Products business." "While there is a dip in YoY performance over the previous Q3 (which had

Bajaj Electricals at 2-month high on restructuring plan; up 27% in 6 days

The stock rallied 6% to Rs 1,329.75 on the BSE in Friday's intra-day trade

Bajaj Electricals surges 11% on board nod for business restructuring plan

Bajaj Electricals is currently engaged in consumer product (CP) segment and engineering procurement and construction segment (EPC) segment

Bajaj Electricals to review corporate structure for better opportunities

The company is currently engaged in the business of consumer products and engineering procurement and construction segment