Bajaj Electricals Q4: Healthy growth, Rs 500 crore fund raise, Rs 4 dividend declared

Bajaj Electricals declared healthy growth in the fourth quarter of financial year 2022-23. Revenues grew 11 percent year on year to Rs 1,490 crore versus estimated Rs 1,385 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood 36 percent higher at Rs 86 crore, while margins improved 100 bps to 5.7 percent. Net profits grew 32 percent to Rs 52 crore versus 39 crore in the corresponding quarter of last year. Net profits of Rs 52 crore is lower than the estimated Rs 61 crore.

The consumer products division witnessed revenue jump of 9 percent year on year to Rs 986 crore despite demand slowdown and pricing constraints.  A softness in lighting and switchgear segment continues with flat revenues at Rs 305 crore in the fourth quarter. In an interaction with CNBC-TV18 on May 23, Anuj Poddar, Bajaj Electricals said professional lighting business is growing, but consumer lighting is weak.

EPC segment revenues jumped 60 percent to Rs 198 crore, while its margins stood at 0.3 percent. The company in its press release said "EPC has exited the year with positive EBIT after a span of 3 years".