Q1 (2015-16) Performance Net Sales / Income from Operations grows by 13.7% to Rs.1009.1 Cr PBT zooms by 356.6% to Rs.34. 7 Cr as against Rs.7.6 Cr for Q1 of 2014-15 Significant turnaround in EPC operations

A meeting of Board of Directors of Bajaj Electricals Limited was held today to consider and approve results for Q1 of FY 2015-16 ended 30^th June, 2015.

Net Sales/Income from Operations for Q1 increased by 13.7% to Rs.1009.1 Cr as against Rs.887.6 Cr in the corresponding previous quarter.

PBT at Rs. 34.7 Cr and Net Profit at Rs.20.3 Cr recorded growth of 356.6% and 262.5% respectively, as against PBT of Rs.7.6 Cr and Net Profit of Rs.5.6 Cr, in the corresponding quarter of the previous year.

Lighting segment achieved total revenue of Rs.202.9 Cr with a growth of 20.3% over the total revenue of Rs.168.6 Cr in the corresponding quarter of the previous year. Lighting segment’s profit at Rs.8.5 Cr as against profit of Rs.2.5 Cr, in the corresponding quarter of previous year showed a substantial improvement of 240%.

Consumer Durables segment’s total revenue at Rs.475.8 Cr showed de-growth of 5.7% as against the revenue of Rs.504.6 Cr in the corresponding quarter of the previous year. Consumer Durables segment achieved profit of Rs.30.2 Cr, as against Rs.34.6 Cr in the corresponding quarter in the previous year.

EPC segment registered a total revenue of Rs.330.2 Cr with a growth of 54.2% as against the revenue of Rs.214.2 Cr in the corresponding quarter of the previous year.  EPC segment registered a significant turnaround in its operations to earn profit of Rs.19.3 Cr as against loss of Rs.5.9 Cr in the corresponding quarter of the previous year.

Mr. Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals Limited, said “Lighting Segment has registered a total revenue of Rs.202.9 Cr, a growth of 20.3% over the corresponding previous period, backed by strong growth in LED based products. Consequently, the margins also improved to 4.2% from 1.5% in the corresponding previous quarter. Consumer Durables segment registered de-growth in revenue by 5.7% largely because of rollout of TOC based distribution model and sluggish demand, which impacted margins adversely. However, with the stable Government at the center, signs of improvement in the overall demand in the second half of the current year and stabilization of new distribution model, we expect improvement in the operations of Consumer Durables segment in the coming quarters.”

Mr. Anant Bajaj, Joint Managing Director, Bajaj Electricals Limited, said “EPC Segment has shown a significant turnaround in its overall operations. Total revenue of EPC has grown by 54.2% to Rs.330.2 Cr as against Rs.214.2 Cr in the corresponding previous quarter and earned a profit of Rs.19.3 Cr as against loss of Rs.5.9 Cr in the corresponding previous quarter. Most of the old sites are now closed and handed over to the clients. Project monitoring mechanism put in place has helped the Company to effectively track the physical progress of the projects. With a good order book of Rs.3226 Cr, comprising Power Distribution projects of Rs.2242 Cr; Transmission Line Towers projects  of Rs.806 Cr;  and Illumination projects of Rs.178 Cr,  the EPC segment is expected to be a major contributor to the overall performance of the Company during the current year.”