Household appliances company Bajaj Electricals announced Q2FY23 results: Q2FY23: The company has achieved revenue from operations of Rs 1,226 crore as against Rs 1,302 crore, a de-growth of 6% over the second quarter of the previous year. The company has made a profit before tax and profit after tax of Rs 84 crore and Rs 62 crore respectively, as against Rs 79 crore and Rs 63 crore in the corresponding quarter of the previous year. The Consumer Products (CP) segment of the company has earned total revenue of Rs 883 crore as against Rs 905 crore, a de-growth of 2% over the corresponding quarter of the previous year. The CP segment recorded an EBIT of Rs 62 crore as against Rs 91 crore in the corresponding quarter of the previous year. CP Operating Margins are at 7%. The Lighting Solutions (LT) segment has earned total revenue of Rs 276 crore as against Rs 286 crore, a de-growth of 4% over the corresponding quarter of the previous year. The LT segment recorded an EBIT of Rs 26 crore as against Rs 18 crore in the corresponding quarter of the previous year. LT Operating Margins are at 9%. The EPC segment has achieved total revenue of Rs 67 crore as against Rs 111 crore, registering a degrowth of 39% over the corresponding quarter of the previous year. EPC recorded a profit of Rs 6 crore as against a loss of Rs 19 crore in the corresponding quarter of the previous year. H1FY23: The company generated positive cashflow of Rs 178 crore from operations. Cash equivalents and surplus investments are at Rs 213 crore. The order book as on October 1, 2022, stands at Rs 1,554 crore, comprising of Rs 1,343 crore for transmission line towers, Rs 11 crore for power distribution and Rs 200 crore for illumination projects. Shekhar Bajaj, Chairman of Bajaj Electricals Ltd, said, “We have delivered a PBT growth of 6% inspite of revenue degrowth and absorption of high cost inventories. EPC has delivered positive EBIT for the current quarter, coupled with strong focus on collection of receivables.” Result PDF
Conference Call with Bajaj Electricals Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.