Bajaj Electricals declared healthy growth in the fourth quarter of financial year 2022-23. Revenues grew 11 percent year on year to Rs 1,490 crore versus estimated Rs 1,385 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood 36 percent higher at Rs 86 crore, while margins improved 100 bps to 5.7 percent. Net profits grew 32 percent to Rs 52 crore versus 39 crore in the corresponding quarter of last year. Net profits of Rs 52 crore is lower than the estimated Rs 61 crore.

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The consumer products division witnessed revenue jump of 9 percent year on year to Rs 986 crore despite demand slowdown and pricing constraints. A softness in lighting and switchgear segment continues with flat revenues at Rs 305 crore in the fourth quarter. In an interaction with CNBC-TV18 on May 23, Anuj Poddar, Bajaj Electricals said professional lighting business is growing, but consumer lighting is weak.

EPC segment revenues jumped 60 percent to Rs 198 crore, while its margins stood at 0.3 percent. The company in its press release said "EPC has exited the year with positive EBIT after a span of 3 years".

Poddar while interacting CNBC-TV18 said the company has gained market share across all segments. He further added that primary sales for fans has been slow for the industry. "Volume has declined for fans, we are working on premiumisation". However, he views positive outlook for the fans segment in September ended quarter once channel inventory is cleared.

The household appliances maker is looking at fund raise of upto Rs 500 crore. Furthermore, the Board has recommended a final dividend of Rs 4 per share (200 percent) of face value of Rs 2/- each on equity shares of the company for the financial year ended March 31, 2023.

The order book as on 1st April, 2023 stands at Rs 1,761 crore, comprising of Rs 1,026 crore for Transmission Line Towers, Rs 612 crore for Power Distribution, and Rs 123 crore for Illumination Projects. The company is positive on growth prospects for FY24. It expects margin to improve and is chasing market share growth.

Post result declaration, the shares of Bajaj Electricals are trading flat on the exchanges at 2 pm on May 23.