Bajaj Electricals on Tuesday posted fiscal fourth quarter profit at Rs 51.85 crore, up 31.8 per cent from Rs 39.35 crore in the same quarter last year. It posted revenue from operations at Rs 1490.11 crore, up 11.7 per cent as against Rs 1334.32 crore in the fourth quarter of FY22. The company’s EBITDA stood at Rs 85.6 crore for the quarter. While Bajaj Electricals’ total income for the quarter was at Rs 1522.11 crore, its expenses during Q4FY23 was at Rs 1442.73 crore. The Board also recommended a final dividend of Rs 4 per share (200 per cent) of the face value of Rs 2 each on equity shares of the company for the financial year ended March 2023.
The company’s consumer products segment registered a revenue of Rs 986.53 crore during the quarter, its lighting solutions business clocked a revenue of Rs 305.44 crore while its engineering, procurement and construction (EPC) segment posted a revenue of Rs 198.14 crore during the fiscal fourth quarter.
In terms of full year, Bajaj Electricals posted profit at Rs 216.19 crore in FY23, up 73.77 per cent on-year as against Rs 124.41 crore in FY22. “For the year ended March 31, 2023, the company generated positive cashflow from operations of Rs 450 crore. Cash equivalents and surplus investments are at Rs 412 crore,” the company said.
“The company has achieved a good performance in a tough environment. Consumer products revenues have grown 8.7 per cent for the quarter, despite demand slowdown and pricing constraints. EPC has exited the year with positive EBIT after a span of 3 years, while yet picking up growth, which is an outcome of the business-focused approach adopted by the company,” said Shekhar Bajaj, Chairman, Bajaj Electricals.
He further added that the order book of the company as on April 2, 2023 stands at Rs 1761 crore comprising Rs 1026 crore for transmission line towers, Rs 612 crore for power distribution and Rs 123 crore for illumination projects. Shares of Bajaj Electricals were trading at Rs 1,226 apiece, up 1.99 per cent from the previous close, on BSE.
