Bajaj Electricals recorded its fiscal fourth quarter profit at Rs 29.31 crore, down 43.5 per cent on-year in comparison to Rs 51.85 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 1188.08 crore, down 8 per cent as against Rs 1291.97 crore during the fourth quarter of FY23. The company EBITDA stood at Rs 49 crore, down 48 per cent on-year. 

The company board also recommended a dividend at the rate Rs 3 per share (150 per cent) of face value of Rs 2 each on equity shares for the financial year ended March 31, 2024. “The said dividend, if approved by the shareholders at the forthcoming 85th Annual General Meeting, will be credited/dispatched on or after Saturday, August 10, 2024. The register of members and share transfer books will remain closed from Saturday, July 20, 2024, to Tuesday, August 6, 2024 (both days inclusive) for the purpose of the forthcoming AGM and payment of dividend to be declared thereat,” the company said in a regulatory filing. 

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Bajaj Electricals also approved a proposal to obtain an enabling approval of shareholders at the company’s forthcoming AGM, to borrow funds by way of issuance of unsecured non-convertible debentures and/or commercial papers, upto an amount not exceeding Rs 500 crore to the eligible investors on a private placement basis, in one or more tranches. 

Furthermore, the company also announced the appointment of Pooja Bajaj as a whole-time director with the designation and title of ‘Executive Director’, for a period of five years effective from May 14, 2024 to May 13, 2029. Pooja Bajaj did her Master’s in Management from the University of Leeds, England, and Postgraduate Diploma in Human Resource Management from Osmania University, Hyderabad.

“Since joining the board of Bajaj Electricals Ltd. in November 2018, Pooja has been instrumental in getting trained on the company’s strategic direction and learning about its culture of excellence. Recognizing the importance of hands-on experience, she dedicated 2.5 years to immersive training in the consumer durable segment, gaining a comprehensive understanding of market dynamics, competitive landscapes, and financial nuances,” the company said.