BAJAJ ELECTRICALS
Printed From: The Equity Desk
Category: Investment Ideas - Creating winning portfolios!
Forum Name: Stock Synopsis
Forum Discription: A bried discussion of companies on very specific matters. Normally this is the prelude for further research as always members would be discussing quality companies with good management only
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=2681
Printed Date: 20/Apr/2025 at 8:23am
Topic: BAJAJ ELECTRICALS
Posted By: funkyappu
Subject: BAJAJ ELECTRICALS
Date Posted: 23/Feb/2010 at 4:48pm
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Bajaj Electricals manufactures & markets fans, lights & luminaries, home appliances and it's also involved in Engineering & Projects, high masts, Lighting projects, Transmission line towers, Rural elctrification, and to some extent wind energy. The promoters have a holding of 73%. It has grown 4 times in appliances & E&Ps from FY05-09 and during the same peiod, it has doubled in fans, lighting & luminaries. For PAT, CAGR( FY05-09) comes to 60%. Its debt/equity is going down considerably over the past 3 years. Its sales are growing consistently to the tune of around 28%. Profit for the past financial year grew 22% & this year also, its on track to 20%. ROCE comes around 21%. ROE is at 36%. It has expansion in eyes & has repatedly stated in media about expected acquistions to the tune of 100 crores. |
Replies:
Posted By: gyansr
Date Posted: 24/Feb/2010 at 1:43pm
| Another point is that this company's current dividend yield is more than 1%. I am a little surprised that this company did not have any thread on TED |
Posted By: EquityInv
Date Posted: 24/Feb/2010 at 6:30pm
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We have post http://www.theequitydesk.com/forum/forum_posts.asp?TID=2148&KW=Bajaj+Electrical - here . You can continue and add more info. there. ------------- One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do – James Rogers |
Posted By: shontou
Date Posted: 28/Dec/2011 at 5:13pm
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Conference Call
Bajaj Electrical Engineering and Project division continues to remain slow The company held its conference call and was addressed by Mr. Anant Purandhare, CFO. The call was conducted to update the investors regarding current scenario of all the segments of the company and way forward for H2 FY'12 Key highlights According to the management, lighting division continues to grow at around 25% y.o.y, albeit on low base of FY'11. H1 FY'12 margin showed improvement as the product mix improved and moved towards CFL lights, which were unlike in FY'11, the whole year. This trend is expected to continue in H2 FY'12 as well. Consumer durable segment continued to grow around 20% and will continue for the rest of the year at same growth rate. According to the company, it is difficult to tell any apparent slowdown from rural segment or slowdown in consumer spending at this current juncture. The company will be able to maintain the margins in this segment in H2 FY'12 at same level as H1 FY'12, despite currency fluctuations and other issues. This will be largely done through better product mix, topline growth and the company will try for some price increases which otherwise is very difficult in the current environment. Fans sub segment of consumer durable is still not doing well, but according to the management whatever inventory correction had to happen in this segment, had happened and the growth should start. The management was infact able to take some price increases in this sub segment. The Engineering and Project division continues to grow slowly and order intake is also slow. Management expects flat performance overall for FY'12 for this segment and margins to be around 6-7%. Margins would continue to remain under pressure due to lower topline of around Rs 900 crore which is the projected for FY'12 as against around Rs 1000 crore projected earlier. Order book presently stands around Rs 827 crore which includes about Rs 345 crore of orders from Transmission and Tower segment, Rs 150 crore from high posts and the rest from Special projects and REC orders. For FY'12, overall, the company will achieve around 16-18% topline growth. According to the management, given the volatility and uncertainty in the globe and unclear domestic policy stand from the government, it is difficult to project beyond FY'12 at this current juncture. ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: hit2710
Date Posted: 29/Dec/2011 at 12:11pm
There was some fear about margin impact in sep quarter for mayur. But since that was not visible, it was assumed in some reports that the impact might be postponed to dec qtr results. Personally I dont bother about quarterly impacts in Mayur so I dont attach too much importance to these swings. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: shontou
Date Posted: 29/Dec/2011 at 9:27am
Hit bhai Mayur pe itne bullish hai ke Bajaj Electricals mein bhi post kar rahe hai!!  ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: hit2710
Date Posted: 29/Dec/2011 at 9:49am
I had posted this in reply to a query on Mayur on my portfolio thread. But posts like god move in mysterious ways.  I dont know how it came to this bajaj thread.------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: shontou
Date Posted: 06/Feb/2012 at 4:39pm
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Bajaj Electricals net profit declines 19.09% in the December 2011 quarter
Sales rise 15.04% to Rs 792.86 crore Net profit of Bajaj Electricals declined 19.09% to Rs 32.84 crore in the quarter ended December 2011 as against Rs 40.59 crore during the previous quarter ended December 2010. Sales rose 15.04% to Rs 792.86 crore in the quarter ended December 2011 as against Rs 689.19 crore during the previous quarter ended December 2010. Particulars Quarter Ended Dec. 2011 Dec. 2010 % Var. Sales 792.86 689.19 15 OPM % 8.17 10.29 -21 PBDT 51.70 62.31 -17 PBT 48.82 59.65 -18 NP 32.84 40.59 -19 ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: shontou
Date Posted: 11/Feb/2012 at 8:10am
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Conference Call
Bajaj Electricals Expects E&P to clock a PBIT of Rs 40 crore (flat yoy) in Q4FY12 Bajaj Electricals held a conference call on Feb 6, 2012. In the conference call the company was represented by Shekar Bajaj, Chairman, R Ramkrishnan, Executive Director and Ananth Purandare, CFO. Key take aways of conference call Engineering & Projects order inflow during 9mFY12 is Rs 550 crore and the order backlog is Rs 783 crore as end of Dec 31, 2011. Of the order backlog about Rs 288 crore is of TL orders, Rs 200 crore is order for highpost and Rs 343 crore is of special projects. Sales of Consumer Durables grew by 24% for the quarter ended Dec 2011. In that the sales of appliances business was up by 29% and that of fans was up by 14%. Similarly the sales of lighting business was up by 18.8% for the quarter of which lights grew by 25.7% and that of luminarie was up by 11.2%. On the otherhand the Engineering & Projects degrew by 5%. Sales of Engineering & Projects for 9MFY12 grew by modest 2% but its PBIT was lower by 84% to Rs 5.34 crore. The company expected things will start improving from Q3FY12 but that has not happened and the company will complete about 5-6 projects by Feb 2012. This impacted the revenue and profits. Subdued profits in 9mFY12 was largely on account of absence of adequate revenue to cover the fixed cost of this business. Engineering & Projects is expected to clock a PBIT of Rs 40 crore in Q4FY12 (same as that clocked in Q4FY11) and a segment revenue of Rs 375-400 crore in Q4FY12. This is factoring in any write-offs expected in completing long pending orders. The company expects a E&P turnover of Rs 850 crore (up 5% yoy) for FY12 and about Rs 1000 crore for next fiscal. The company that has clocked a sales of Rs 2039 crore for 9mFY12 expects to end the fiscal with a sales of Rs 3200 crore. For next fiscal the company expects a sales of Rs 3800-3900 crore. To achieve Rs 1000 crore of revenue for E&P next year the company need to end the fiscal with a order backlog of Rs 1200 crore. Margin pressure in Consumer durable segment for the quarter is more related to Fans. Moreover with commodity prices and forex losses aggravated the pressure as this division has significant imports. Forex loss was Rs 2.5 crore. The PBIT margin of Consumer Durables increased from 9.3% in Q2FY12 to 11.1% in Q3FY12 and the company expects to maintain Q3FY12 margin in Q4FY12 as well. Debt as end of Dec 2011 is Rs 257 crore and this is largely made up of working capital loans. Advertisement spend in 9mFY12 is Rs 37 crore and this is substantially higher than Rs 30 crore spent in entire FY11. Planned advertisement spend in FY13 is about Rs 55 crore. Fans – when the industry degrew by 8% the company's fan sales grew by 10.6% for 9mFY12. Fan sales revenue in Q4FY11 was approx Rs 190 crore. If there is lack of in house orders the company's galvanising unit is taking up job works to have capacity utilisation. ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: baba
Date Posted: 04/May/2012 at 2:26pm
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Hitesh bhai ,
Can I buy bajaj electric for 3 -4 - 5 yrs .. ? Am holding little @ 211 . Should I buy more . ------------- A monthly investment of Rs 500 (Rs 17 per day) for 30 years @21%CAGR can create a wealth of Rs 1.5 crores. !!! |
Posted By: hit2710
Date Posted: 04/May/2012 at 7:57pm
Not tracking it closely currently. The infra division is likely to be a drag otherwise its a good company. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |