Bajaj Electricals Ltd has declared its results for the fourth quarter and year ended 31st March, 2016.
Net sales/income from operations for FY 2015-16 at Rs. 4611.95 Cr is higher by 8.2% over the previous year. PBT for the year is Rs.153.59 Cr as against loss of Rs. 20.82 Cr for the corresponding previous year. Net Profit for the year is Rs. 95.60 Cr as against loss of Rs. 13.95 Cr in the previous year, an improvement of Rs.109.55 Cr.
During fourth quarter of the year, net sales/income from operations increased by 3.1% to Rs.1357.19 Cr as against Rs. 1316.08 Cr in the corresponding quarter of the previous year. PBT for the quarter is Rs. 53.24 Cr as against profit of Rs.52.69 Cr for the corresponding previous quarter. Net profit for the quarter is Rs. 34.69 Cr as against the net profit of Rs.46.89 Cr for the corresponding quarter of the previous year.
For the year, Lighting segment registered a total revenue of Rs. 1057.59 Cr with a growth of 17.2% and EPC segment registered total revenue of Rs.1551.12 Cr with a growth of 16.1%; however, the Consumer Durable segment, with a total revenue of Rs.2002.60 Cr remained nearly flat.
For the fourth quarter, Lighting segment with a total revenue of Rs. 326.69 Cr registered a growth of 18.2%, whereas the Consumer Durable and EPC segments remained flat with total revenue of Rs. 544.09 Cr and Rs. 486.33 Cr respectively.
Mr. Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals Limited, said “Lighting Segment, on account of strong demand for LED based lighting products, continued to register a good performance with a growth in sales by 18.2% for the last quarter and improvement in margin by 3% from 4.2% to 7.2% resulting in operating profit growing by more than 100% from Rs. 11.68 Cr to Rs. 23.40 Cr
On the other hand, Consumer Durables Segment remained flat on account thrust on the roll out of TOC based distribution model. Though the Consumer Durables Segment remained flat, the margins were largely impacted because of higher spend on publicity during the quarter. However, with the good progress in TOC rollout, the range and reach of the products is fast improving and the benefit of this would be seen in FY 2016-17”.
Mr. Anant Bajaj, Joint Managing Director, Bajaj Electricals Limited said “Focus on timely execution of projects continued to reap benefits for EPC segment, as it has shown continuous improvement in performance for last five quarters, ever since its operations have turnaround. For the quarter, this segment has achieved a revenue of Rs. 486.33 Cr, with EBIT of Rs. 32.21 Cr, and improvement in margins by 1.9% from 4.7% to 6.6% over the corresponding previous quarter. For the year as a whole, the segment achieved an EBIT of Rs. 95.33 Cr as against the loss of Rs.86.94 Cr for the previous year, an improvement of Rs. 182.27 Cr.
EPC current order book stands at Rs. 2478 Cr, comprising of Rs. 680 Cr for Transmission Line Towers; Rs. 1660 Cr for Power Distribution; and Rs. 138 Cr for Illumination Projects.
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