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Bajaj Electricals
Bajaj Electricals Ltd on Friday said it has received a demand of Rs 14.08 crore from GST authority in Punjab for alleged mismatch in input tax credit (ITC) claimed by it. In a regulatory filing, Bajaj Electricals Ltd said it has received an assessment order dated February 20, 2025, from the Office of the Assistant Commissioner, Mohali, Punjab alleging liability on reverse charge mechanism, a mismatch in the input tax credit (ITC) claimed by it during FY 2020-21. "Consequently, a total demand of Rs 14.08 crore has been imposed on the company, which includes an alleged tax demand of Rs 7.45 crore, interest of Rs. 5.89 crore, and a general penalty of Rs 75 lakh," it said. The company is currently exploring various legal options and necessary steps, including filing an appeal before the relevant appellate authority, the filing said, adding there is no impact on financial operations or any other activities due to this.
Bajaj Electricals Ltd on Tuesday reported a decline of 10.7 per cent in consolidated net profit at Rs 33.36 crore for the third quarter ended on December 31, 2024. The company had posted a net profit of Rs 37.36 crore in the October-December period a year ago, according to a regulatory filing from Bajaj Electricals. However, its revenue from operations climbed 5 per cent to Rs 1,289.72 crore during the quarter under review. The same stood at Rs 1,228.24 crore in the corresponding quarter a year ago. Bajaj Electricals' total expenses in the December quarter was Rs 1,257.09 crore, up 3 per cent. Its revenue from Consumer Products (CP) rose 8.54 per cent to Rs 1,038.45 crore, against Rs 956.66 crore in the corresponding quarter of the preceding fiscal. However, revenue from Lighting Solutions declined 7.47 per cent to Rs 251.27 crore, in comparison with Rs 271.58 crore a year ago. The company's total income, which includes other income, was Rs 1,302.51 crore, up 2.48 per cent in the
Bajaj Electricals Ltd on Thursday reported a 52.7 per cent decline in consolidated net profit to Rs 12.90 crore for the second quarter ended September 2024. The company had posted a net profit of Rs 27.28 crore in the July-September period in the year-ago period, according to a regulatory filing by Bajaj Electricals. Its revenue from operations was marginally up at Rs 1,118.33 crore during the quarter under review. It was Rs 1,112.82 crore a year ago. The total expenses of Bajaj Electricals increased 3.73 per cent to Rs 1,118.80 crore in the September quarter. Its revenue from consumer products (CP) rose 1.24 per cent to Rs 868.27 crore against Rs 857.57 crore in the corresponding quarter of the last fiscal. The revenue from lighting solutions slipped 2 per cent to Rs 250 crore. Shares of Bajaj Electricals on Thursday settled at Rs 919.10 on BSE, up 4.03 per cent.
Bajaj Electricals Ltd on Tuesday reported a 43.47 per cent decline in consolidated net profit to Rs 29.31 crore in the March quarter with revenue impacted by weakness in appliances and general trade. The company had posted a consolidated net profit of Rs 51.85 crore in the year-ago period, Bajaj Electricals said in a regulatory filing. Consolidated total revenue from operations in the quarter under review was Rs 1,188.08 crore as compared to Rs 1,291.97 crore in the same period a year ago, it added. Total expenses in the fourth quarter were lower at Rs 1,186.09 crore as compared to Rs 1,231.69 crore in the corresponding period a year ago. In the fourth quarter revenue dropped on account of weakness in appliances and general trade. Growth in fans and 'Morphy Richards' brand was offset by drop in appliances, the company said. The lighting solutions segment also witnessed a drop in revenue on account of LED price erosion in consumer lighting and higher base effect in professional ...
Bajaj Electricals Ltd on Monday reported a 56 per cent decline in consolidated net profit to Rs 27.28 crore for the September quarter on account of weak consumer demand. The company had posted a net profit of Rs 62 crore in the July-September period a year ago, according to a regulatory filing. Its net sales declined 3.76 per cent to Rs 1,107.40 crore in the second quarter of the current fiscal as against Rs 1,150.77 crore in the year-ago period. "The company has achieved a stable performance amidst a weak consumer demand sentiment," its chairman Shekhar Bajaj said in an earnings statement. Bajaj Electricals' total expenses in the September quarter rose 1.2 per cent to Rs 1,097.11 crore. Its revenue from consumer products fell 2.86 per cent to Rs 857.57 crore as against Rs 882.87 crore in the corresponding quarter in the preceding fiscal year. Similarly, revenue from the lighting solutions segment declined 7.42 per cent to Rs 255.25 crore in comparison to Rs 275.73 crore a year .
Bajaj Electricals Ltd on Thursday reported a 9.85 per cent decline in consolidated net profit at Rs 37.13 crore in the June quarter. The company had posted a net profit of Rs 41.19 crore in the year-ago period, Bajaj Electricals said in a regulatory filing. Its net sales were down 1.5 per cent to Rs 1,107.98 crore in the first quarter of the current fiscal as against Rs 1,124.88 crore in the year-ago period. Bajaj Electricals' total expenses were almost flat at Rs 1,079.02 crore during the quarter, while total revenue maintained its level from the previous year at Rs 1,132.04 crore. Its revenue from the consumer products segment was up 2.01 per cent at Rs 872.60 crore in the quarter under review as against Rs 855.36 crore last year. However, revenue from its lighting solutions segment was down 12.52 per cent to Rs 239.53 crore from Rs 273.83 crore in the June quarter last year. Bajaj Electricals has demerged its engineering, procurement and construction (EPC) business after appro
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 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
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.