Arthneeti

Bajaj Electricals Q2 FY27 Share Price & Earnings Call Analysis

₹283.80-3.02% today
Market cap
₹3,279 Cr
ROE
-0.72%
Price to sales
0.74
Debt to equity
0.10
52W high / low
₹530 / ₹276
Sales growth (5Y)
-0.54%
EBITDA margin
4.06%
Net profit margin
-0.27%
Promoter holding
62.70%
Sales (last year)
₹4,487 Cr

Bajaj Electricals Limited is a part of the Bajaj Group of companies and is a leading FMEG company spread across Consumer Products - Appliances, Fans, Lighting, Exports, and EPC - Illumination, Transmission Towers and Power Distribution. It also has its presence in premium home appliances and cookware segments with brands like Morphy Richards and Nirlep.[1]

Guidance scorecard · Q2 FY27 call

What Bajaj Electricals Ltd's management guided
and where it ranks in Consumer Durables

#81of 87 in
Consumer Durables
Revenue0–10%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

0–10%
  • Bajaj Electricals targets 8% to 10% top-line growth over the next couple of years, aiming to outperform the industry growth of 6%-7%.
  • Growth assumptions consider inflation and market expansion; quarter-to-quarter variations expected but 8%-10% is the ballpark.
  • Focus on premiumization, innovation, and expanding distribution to drive volume growth and market share gains, especially outside fans category.
  • Fans category growth expected to recover after supply chain disruptions and operational issues are addressed.
  • E-commerce and quick commerce channels are rapidly growing, with e-commerce contributing around 15%-20% and showing double-digit growth.

2 more points from Bajaj Electricals Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

See what Bajaj Electricals Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Bajaj Electricals is actively working on expanding its category presence and infrastructure, aiming for growth beyond core consumer products and lighting.
  • They are exploring new areas such as solar energy, wires, cables, and professional lighting projects, signaling strategic investments in these segments.
  • The company is focusing on building a different kind and larger scale of company over the next 4-5 years; this involves new category entries and innovation-led growth.

2 more points from Bajaj Electricals Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Bajaj Electricals Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Bajaj Electricals Ltd said on the order book →

Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Bajaj Electricals Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

Sign up free to see every company in the sector ranking and track Bajaj Electricals Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of Bajaj Electricals Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Bajaj Electricals Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +62.85%62.80%62.78%62.76%62.72%62.72%62.72%62.71%62.70%62.70%62.70%62.67%
FIIs +10.41%10.18%7.93%8.23%7.82%7.79%7.89%7.75%6.48%6.50%5.37%5.36%
DIIs +12.11%12.61%14.75%15.59%15.91%15.79%15.57%15.87%17.08%16.88%16.82%15.97%
Public +14.62%14.41%14.53%13.41%13.54%13.70%13.83%13.68%13.74%13.94%15.12%15.98%
No. of Shareholders65,60063,09459,46061,77465,27968,26368,57377,02977,07181,28784,85587,446

Financials of Bajaj Electricals Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,1131,2281,1881,1551,1181,2901,2651,0651,1071,0511,2401,0891,123
Expenses +1,0381,1711,1381,0801,0671,2021,1721,0321,0501,0431,2001,0121,056
Operating Profit7558507552879333578407767
OPM %7%4.7%4.2%7%4.6%7%7%3.1%5%0.8%3.2%7%6%
Other Income +6432211151338248-14-463514
Interest14201816171918181313131615
Depreciation27303032353641373735333130
Profit before tax41502438154571216-54-526635
Tax %33%26%-20%27%12%27%17%40%36%-37%30%26%26%
Net Profit +27372928133359110-34-684826
EPS in Rs2.373.252.542.441.122.895.120.080.85-2.96-5.854.192.26

Financials of Bajaj Electricals Ltd

Profit & Loss

Annual income statement trend

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +4,5904,2544,6976,6624,9854,5844,8114,8894,6394,8264,4614,503
Expenses +4,3264,0114,4146,3254,7804,2814,5604,5154,3794,5194,3234,311
Operating Profit264243283338205303250375260307138192
OPM %6%6%6%5%4.1%7%5%8%6%6%3.1%4.3%
Other Income +4630-2665469555468276-29-12
Interest108805911817176704463705657
Depreciation2730344474756974110144142128
Profit before tax1741631642417246166303168170-89-5
Tax %38%37%49%36%244%23%25%29%22%21%2%
Net Profit +10810284154-10189124216131133-91-27
EPS in Rs9.629.087.3913.76-0.8216.6411.1918.7811.3811.57-7.87-2.36
Dividend Payout %26%28%43%23%0%0%27%21%26%26%-38%

Financials of Bajaj Electricals Ltd

Balance Sheet

Capital structure and asset base

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital202020202323232323232323
Reserves7348439161,0351,3261,5551,7091,8841,4181,7021,5711,634
Borrowings +8996477231,5901,08454891101215243159132
Other Liabilities +1,3051,5691,8062,5332,1352,1422,1692,9852,1772,2512,5072,470
Total Liabilities2,9573,0783,4665,1794,5674,2683,9924,9933,8334,2194,2604,260
Fixed Assets +276310316393469531754770916950908849
CWIP2186911184442631321
Investments777281113554735233402485
Other Assets +2,5832,6883,1364,7664,0753,7143,1894,1342,8193,0232,9482,925
Total Assets2,9573,0783,4665,1794,5674,2683,9924,9933,8334,2194,2604,260

Financials of Bajaj Electricals Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +305437-103-621626658914449354347619
Cash from Investing Activity +-53-9036-103-41-110-70-88-449-195-380
Cash from Financing Activity +-239-36864713-495-604-771-139-133-146-137
Net Cash Flow13-22-3-1190-5673223-2276103
Free Cash Flow255389-138-677597638871378223318534
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit137%198%-17%-143%327%221%383%126%137%114%455%

Financials of Bajaj Electricals Ltd

Ratios

Working capital efficiency and return ratios

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1121151361441501208683929793
Inventory Days6076686477120111106857964
Days Payable668410085100117137195206212237
Cash Conversion Cycle10610710412312712460-6-30-35-79
Working Capital Days2-4169172924391235-20
ROCE %15%19%17%7%12%12%18%13%12%3%

Guidance history

How Bajaj Electricals Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →0–10%Up 0–2%Planned——
Q4 FY26 call →0–10%FlatNone planned——
Q3 FY26 call →0–10%Up 0–2%———
Q2 FY26 call →0–10%FlatPlanned—Flat

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

6out of 100

Momentum score · price trend

6 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−46.4%6%
Last 6 months−28.4%9%
Last 3 months−13.8%31%

The price is 79.2% below its all-time high of ₹1,365.15 (17 Sept 2021). Stocks more than 20% below their peak have their score halved, so 12 became 6.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bajaj Electricals Ltd: 0.4 × 6 + 0.4 × 9 + 0.2 × 31 = 12, halved to 6 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Bajaj Electricals Ltd's management said in earlier quarters

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