Bajaj Electricals Ltd (BOM:500031)

Q1 2027 Bajaj Electricals Ltd Earnings Call Transcript

Aug 6, 2026 / 12:45 PM GMT

Release Date Price: ₹382.95 (+9.63%)

Transcript

Key Points

Positve

Bajaj Electricals Ltd (BOM:500031) reported a significant improvement in EBIT margin to 6.6% from 2.5% year-on-year, reflecting strong operating discipline and cost efficiency.
Consumer Products returned to growth (1.7%) and positive EBIT (3.9% vs. -1.7% YoY), driven by double-digit growth in non-summer products and Morphy Richards.
Lighting Solutions continued its growth momentum with a 4.4% increase, fueled by double-digit growth in consumer lighting, and is expected to return to double-digit margins.
Gross margins improved by 130 bps company-wide and 220 bps in Consumer Products, supported by premiumization, better mix management, and productivity initiatives.
E-commerce grew double-digit and exports nearly doubled, with quick commerce emerging as a fast-growing channel, contributing to a diversified go-to-market strategy.

Negative

Overall revenue growth was modest at 2.3% YoY, impacted by a decline in the fan business due to supply chain issues (gas shortages and PCB constraints) and operational challenges.
The fan category saw market share loss, and management acknowledged corrective actions are needed to claw back share over the next two to three quarters.
Input cost inflation ranged from 6% to 12% across categories, with coolers hit hardest, requiring selective price hikes and savings to offset, though the environment remains volatile.
Legacy project contracts in professional lighting pressured margins, as price increases couldn't be passed on due to pre-signed rates, creating a temporary margin blip.
Cash flow from operations was negative in Q1, primarily due to tax compliances related to the Morphy Richards acquisition and GST, though underlying operations were healthy.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BJEL.NS - Bajaj Electricals Ltd
Q1 2027 Bajaj Electricals Ltd Earnings Call
Aug 06, 2026 / 12:45PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Gentlemen, good day and welcome to the Bajaj Electricals Q1 FY27 Earnings Conference Call hosted by ITICI Securities Limited.

As a reminder, all participants line will be in listen-only mode and there will be an opportunity for you to ask questions after the presentation completes.

Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand over the conference to Mr. Aniru Joshi from. ICICI Securities Limited.

Thank you and over to you sir.

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Unidentified_2 [2]

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