Bajaj Electricals Limited · NSE:BAJAJELEC
Bajaj Electricals — Q1 FY2024 Earnings Presentation
25 slides from Bajaj Electricals's earnings presentation, Aug 10, 2023
Slide 1: Exchange filing cover letter for Q1 results presentation
August 10, 2023 To, BSE Limited : Code No. 500031 Department of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 National Stock Exchange of India Limited : BAJAJELEC - Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Dear Sir/M
Slide 2: Investor Presentation Q1 FY'24
Investor Presentation Q1 FY’24 August 10, 2023
Slide 3: Disclaimer
Disclaimer The material that follows is a Presentation of general background information about the activities of Bajaj Electricals Limited (“Company”) or its subsidiary or joint venture or associate (together with the Company, the “Group”) as at the date of the Presentation or as otherwise indicated
Slide 4: Table of Contents
Table of Contents 1 Q1 FY’24 – Performance Overview 2 Financial Highlights 3 Business Highlights 4 Updates on corporate restructuring and consolidation 3
Slide 5: Table of Contents
Table of Contents 1 Q1 FY’24 – Performance Overview 2 Financial Highlights 3 Business Highlights 4 Updates on corporate restructuring and consolidation 4
Slide 6: Performance Overview (1/2)
Q1 FY’24 – Performance Overview (1/2) Continuing Operations FMEG Revenue EBIT PAT INR 1,112 Cr INR 65 Cr INR 38 Cr 5.8% EBIT Margin 3.4% PAT Margin -1.5% YoY -0.4% YoY -10.4% YoY Discontinued Operations (EPC) EPC Revenue EBIT PAT INR 205 Cr INR 2 Cr INR -0.4 Cr 105.2% YoY 0.8% EBIT Margin* -0.2% PAT
Slide 7: Performance Overview (2/2)
Q1 FY’24 – Performance Overview (2/2) Core FMEG Performance (1.5% de-growth on YoY basis on account of strong headwinds) • Consumer Products (CP) Segment: Growth of c.10% in appliances, offset by de-growth of c.8% in fans • Lighting Solutions (LS) Segment: De-grew on account of subdued demand • Cont
Slide 8: Table of Contents
Table of Contents 1 Q1 FY’24 – Performance Overview 2 Financial Highlights 3 Business Highlights 4 Updates on corporate restructuring and consolidation 7
Slide 9: Profit & Loss Statement
Q1 FY’24 – Profit & Loss Statement (INR Cr) Particulars Q1 FY’24 Q1 FY’23 YoY (%) Q4 FY’23 Commentary Revenue from Operations 1,112 1,129 (1.5%) 1,292 Gross Margin: 67 bps margin improvement Less : COGS 783 802 (2.4%) 908 driven by Lighting Solutions segment Gross Margin 329 327 0.7% 384 Other Incom
Slide 10: Segment Details
Q1 FY’24 – Segment Details Segment Revenue Commentary Q1 FY’24 Q1 FY’23 Q4 FY’23 Consumer Products Segment : Particulars YoY (%) (Cr) (Cr) (Cr) Consumer Products 873 855 2.0% 987 • Low single digit growth on account of muted demand environment and unseasonal rains Lighting Solutions 240 274 (12.5%)
Slide 11: Operational Highlights
Q1 FY’24 – Operational Highlights Category CategoryGrowth Growth(YoY): (YoY):CP CPSegment Segment Commentary Appliances and MR : • ~10% growth in appliances and ~12% growth in MR amidst subdued demand Appliances: 10.1% Fans: -8.4% MR : 12.2% Fans Receivables (net of channel finance*) • While overall
Slide 12: Cash Position
Cash Position (INR Cr) As on As on As on Particulars Jun’23 Mar’23 Mar’22 Cash & Cash Equivalent 192 342 119 Investment (surplus funds) 218 69 24 Sub-Total 410 411 143 Gross Debt - - 45 Net Position 410 411 98 Net Worth 1,948 1,907 1,705 CRISIL ratings : 1. Total Bank Loan Facilities for INR 2,100 c
Slide 13: Table of Contents
Table of Contents 1 Q1 FY’24 – Performance Overview 2 Financial Highlights 3 Business Highlights 4 Updates on corporate restructuring and consolidation 12
Slide 14: Evolution into House of Brands
Evolution into House of Brands BUILT FOR LIFE FEEL THE FUTURE HAPPINESS ENGINEERED EVERYDAY HEALTH A PORTFOLIO OF SHARPLY DIFFERENTIATED, CONSUMER-CENTRIC BRANDS 13
Slide 15: New Product Launches: Consumer Products (BAJAJ)
New Product Launches: Consumer Products (BAJAJ) MILITARY SERIES (FINESSE 750W) HYBRID OTG 2900 DCB & 3600 • Military Grade Jars DCB • DuraCut® Blades with Lifetime • Digital Display & Knobs for Warranty Convenience • 750 W Titan motor • 12 Pre-Set Menus • 5-year motor warranty • Convection Mode + Mo
Slide 16: New Product Launches: Consumer Products (Morphy Richards)
New Product Launches: Consumer Products (Morphy Richards) 16* Launches DUOPRESSO 2-IN-1 PERSONAL GROOMING COFFEE MAKER • Trimmers - 120 mins runtime / 2 • Drip and Espresso Maker hours charging • Hair Straightener – Keratin, Ionic • 15 Bar pump pressure care, heat resistant storage pouch • Digital d
Slide 17: Soft launch of a new 'high-performance' brand: Nex
Soft launch of a new ‘high-performance’ brand : Nex A range of premium fans delivering best in class performance & aesthetics for the aspirational urban millennials AEIROLOGY The Promise of Delivering an Elevated Air Experience, with Higher Air Thrust 16
Slide 18: New Product Launches: Consumer Lighting
New Product Launches: Consumer Lighting IVORA LED LEDZ INVERTER COMPACT Lamp 12W Downlight Series 5W, 3W, The bright choice, obviously Compact downlight for smaller places 18* Launches IVORA PLUS LEDZ INVERTER Lamp Series Batten 10W 15W, 18W, 20W Shines bright, even See Convenience in when there is
Slide 19: New Product Launches: Professional Lighting
New Product Launches: Professional Lighting GLIMMER NEXO • High quality durable PC • 120 Lm/W housing • PC Lens • Low heat emission • 4kV inbuilt (+10kV for • Weatherproof 60W & above) • Oval shape design • 2 years warranty 108* Launches GLATT FLOOD LIGHT LED FLAMEPROOF • 120 Lm/W • 100 Lm/W • PC Le
Slide 20: Brand Campaigns: BAJAJ ("BUILT FOR LIFE")
Brand Campaigns : BAJAJ (“BUILT FOR LIFE”) PAN India Multimedia Fans Campaign – TVC, Print, Digital and BTL 19
Slide 21: Digital Influencer Interventions
Digital Influencer Interventions Chef Kunal Kapur (PAN India) and Chef Vismai (South Centric) Multi-Platform Digital Influencer campaign 20
Slide 22: EPC: Key orders bagged and Project updates
EPC: Key orders bagged and Project updates • 132 kV DC Naubatpur-Paliganj 400kV DA suspension tower 765kV DA type tower Power Transmission Line (27 km) Transmission commissioned • Successfully type tested 400 kV DA & DC tower for PGCIL Navsari-Kala Transmission Line • Successfully type tested 765kV
Slide 23: Table of Contents
Table of Contents 1 Q1 FY’24 – Performance Overview 2 Financial Highlights 3 Business Highlights 4 Updates on corporate restructuring and consolidation 22
Slide 24: Updates on corporate restructuring and consolidation
Updates on corporate restructuring and consolidation BAJEL Projects Limited Nirlep Appliances Private Limited • Scheme of demerger approved by Hon’ble NCLT, • First motion order passed by Hon’ble NCLT, Mumbai Bench on 8th June, 2023 Mumbai Bench on 12th April, 2023 • Process of transfer of business
Slide 25: Shareholding Pattern as on 30th June, 2023
Bajaj Electricals Limited Shareholding Pattern as on 30th June, 2023 CIN: L31500MH1938PLC009887 14.3% Regd. Office: 45/47, Veer Nariman Road, Fort, Mumbai 400023 10.9% Corporate Office: Rustomjee Aspire, 7th Floor, Bhanu Shankar Yagnik Marg, Sion East, Mumbai 400022 Website: www.bajajelectricals.com