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Bajaj Electricals FY-24 Financials: PAT Slumps 39%, Revenue Down 5%

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Bajaj Electricals Limited [NSE: BAJAJELEC, BOM: 500031], an Indian electrical equipment manufacturing company, has announced its financial results for Q4 of FY-24 and FY-24.

Bajaj Electricals’ Standalone Financial Results: Q4 of FY-24 & FY-24

Bajaj Electricals recorded a standalone revenue of Rs. 1,188.08 crore from operations during Q4 of FY-24 and Rs. 4,641.27 crore for entire financial year 2023-24.

The company’s Profit After Tax (PAT) was Rs. 29.31 crore for fourth quarter of FY-24 and Rs. 131.79 crore for FY-24.

Further, Bajaj Electricals reported its Q4 FY-24 Earnings Per Share (EPS) as Rs. 2.55 and its FY-24 EPS as Rs. 11.45.

Consolidated Financial Figures of Bajaj Electricals: Q4 FY-24 & FY-24

YoY Comparison of Bajaj Electricals’ Financials: Q4 FY-24 vs. Q4 FY-23 & FY-24 vs. FY-23

Bajaj Electricals Revenue Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

On a Year-over-Year (YoY) basis, the company’s consolidated revenue increased by 8.04% to Rs. 1,188.08 crore during Q4 of FY-24 from Rs. 1,291.97 crore in Q4 of FY-23. The company’s Q4 PAT slumped by 43.47% to Rs. 29.31 crore in FY-24 from Rs. 51.85 crore during FY-23.

Bajaj Electricals PAT Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

During the entire FY-24, the company’s revenue stood at Rs. 4,641.27 crore, exhibiting a decrease of 5.07% from Rs. 4,889.24 crore recorded during FY-23. Bajaj Electricals’ PAT plummeted by 39.37% to Rs. 131.08 crore during FY-24 against Rs. 216.19 crore profit in FY-23.

The company’s EPS stood at Rs. 2.55 during Q4 of FY-24 and Rs. 11.39 during full 2023-24 fiscal.

QoQ Comparison of Bajaj Electricals’ Financial Numbers: Q3 FY-24 vs. Q4 FY-24

Bajaj Electricals Revenue: Q3 FY-24 vs. Q4 FY-24
Bajaj Electricals PAT: Q3 FY-24 vs. Q4 FY-24

Bajaj Electricals’ revenue from operations saw a decrease of 3.27% from Rs. 1,228.24 crore reported in Q3 of FY-24. Further, the company’s PAT also tumbled by 21.55% from Rs. 37.36 crore during third quarter of FY-24.

Bajaj Electricals’ Segment-Wise Revenue Comparison

Comparison of Bajaj Electricals’ Consumer Products Segment-Wise Financials: Q3 FY23 vs. Q3 FY24 & FY23 Vs. FY24

Consumer Products: The company earned Rs. 917.08 crore as revenue during Q4 of FY-24 from its Consumer Products segment against Rs. 986.53 crore clocked during Q4 of FY-23. This represents a decrease of 7.04% on a YoY basis.

Bajaj Electricals’ revenue from its Consumer Products’ business was Rs. 3,603.90 crore during FY-24, reflecting a decrease of 4.26% from its Rs. 3,764.24 crore revenue during FY-23.

Comparison of Bajaj Electricals’ Lighting Solution Segment-Wise Financials: Q3 FY23 vs. Q3 FY24 & FY23 Vs. FY24

Talking about the Consumer Products business during the company’s earnings call dated 17th May 2024, Mr. Anuj Poddar, Managing Director and Chief Executive Officer of Bajaj Electricals, said “In terms of challenges, our consumer products business has faced the impact of weak demand, particularly in kitchen appliances, appliances have pulled us down as well as general trade we witnessed weakness in demand.

Lighting Solutions: Bajaj Electricals reported a revenue of Rs. 271 crore from its Lighting Solutions segment for Q4 of FY-24. This reflects a YoY decrease of 11.28% from the company’s Rs. 305.44 crore revenue clocked during Q4 of FY-23.

For the entire FY-24, the company recorded Rs. 1,037.37 crore as revenue from this segment, showing a decrease of 7.79% from Rs. 1,125 crore during FY-23.

Board of Directors Recommends FY-24 Dividend to Shareholders

Bajaj Electricals’ Board of Directors has recommended paying a 150% final dividend for FY 2023-24 to the company’s shareholders. This translates to Rs. 3 per equity share of the company. If announced at the upcoming Annual General Meeting (AGM), this dividend will be paid out to the shareholders on or after 10th August 2024.

About Bajaj Electricals Limited: Bajaj Electricals Ltd. is a part of the Bajaj Group, and was founded in 1938 as ‘Radio Lamp Works Limited’. The company was renamed as Bajaj Electricals Ltd. in 1960. The company has 18 branch offices across India and a distribution network which is over 600 distributors strong.