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Bajaj Electricals Ltd. Interim / Quarterly Report 2025

Nov 7, 2024

60535_rns_2024-11-07_62122580-6383-4d7f-b49d-b423da081011.pdf

Interim / Quarterly Report

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Electricals

BAJAJ

November 7, 2024

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/Madam,

Sub.: Outcome of the Board Meeting of Bajaj Electricals Limited (the "Company") held today i.e., on Thursday, November 7, 2024 ("Meeting")

A. Unaudited Financial Results of the Company for the second quarter and half year ended September 30, 2024:

Further to our letter dated October 22, 2024, and pursuant to the provisions of Regulations 30 (read with Part A of Schedule Ill) and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations"), we enclose herewith the Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended September 30, 2024, along with the Limited Review Reports as provided by the Statutory Auditors thereon, which were approved and taken on record by the board of directors at its aforesaid Meeting.

B. Voluntary Retiremi!nt S�heme (VRS)approvfilLfor permanent emJ;)lQ¥ees io _the 'workmen' category at the Manufacturing Unit located at Nashik, Maharashtra {"Nashik Facility")

Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to inform you that the Board of Directors, at the said Meeting, has, inter alia, approved a Voluntary Retirement Scheme (VRS) for permanent employees in the 'workmen' category at the Nashik Facility, aimed at enhancing operational performance, with an estimated total outflow capped at approximately Rs. 15.30 crores, excluding other dues.

The Meeting commenced at 11 :00 a.m. and concluded at 1 :20 p.m.

We request you to take the above on record and treat the same as compliance under the applicable provisions of the SEBI Listing Regulations.

Thanking you,

Yours faithfully, e�.i-1s Limited �[�] Prashant Dalvi Chief Compliance Officer & Company Secretary

Encl.: As above.

Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai - 400001 Tel: +91 22 6149 7000 I www.bajajelectricals.com

bii group

Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400001. Tel: +91 22 6110 7800 I Email: [email protected] I CIN: L31500MH1938PLC009887

SR BC& COLLP Chartered Accountants

12th Floor, The Ruby 29 Senapati Bapat Marg Dadar <West) Mumbai • 400 028, India

Toi: +912268198000

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Bajaj Electricals Limited

  1. We have reviewed the accompanying statement of unaudited standalone financial results of Bajaj Electricals Limited (the "Company") for the quarter ended September 30, 2024 and year to date April 01, 2024 to September 30, 2024 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

  2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

  3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

  4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP Chartered Accountants

ICAI Firm registrar .D number: 324982E/E300003

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Per Aruna Kumaraswamy Partner Membership No.: 219350 UDIN:24219350BKCSZC5270 Mumbai, November 07, 2024

Page 1 of 1

SR 8 C & CO LLP. a limited liability Partnership with LLP ldentily No. AAB·431B Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

Bajaj Electricals Limited

CIN : L31500MH1938PLC009887

Registered Office: 45/47, Veer Nariman Road, Mumbai - 400 001 Tel. 022-61497000 Website: http:/MWW.bajajelectricats,com Email· [email protected]

STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30th SEPTEMBER 2024

(Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data) (Rs.InLakhs except per share data)
Sr.No.
Pariculars		 Quarer ended
Six months ended
Yearended
30-Sep-24
(Unaudited)		 30-Jun-24
(Unaudited)
30-Sep-23
30-Sep-24
30-Sep-23
31-Mar-24
(Unaudited)
(Unaudited)
(Unaudited)
(Audited)
(refer note 1)
(refernote1)
(refer note 2)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Revenue from continuing operations
(a) Net sales
(b) Other operating income
Total Revenue from operations
Other income (refer nole 3)
Total Income (1 + 2)
Expenses
(a) Cost of raw materials consumed
(b) Purchase of traded goods
(c) Changes in inventories of finished goods, work-in-progress and traded
goods
{d) Erection & Subcontracting Expenses
(e) Employee benefits expense
(f) Depreciation and amortisation expense
(g) Other expenses
(h) Finance Costs
Total Expenses
Profit before tax from continuing operations (3 - 4)
Tax Expense/ (Credit) from continuing operations
Current Tax
Deferred Tax (refer note 1 and 4)
Adjustment of tax relating to earlier periods
Total Tax Expense/ (Income) from continuing operations
Net profit for the period/ year from continuing operations (5 - 6)
Profit/ (loss) before tax from discontinued operations (refer note 2)
Tax expense / (Credit) from discontinued operations
Net profit / (loss) tor the period / year from discontinued operations (8-
9)
Net Profit for the perod / year (7 + 10)
Other comprehensive (income) / loss, net of income tax from continuing
operations
Items that will be reclassified to profit or loss (net of tax)
Items that will not be reclassifed to profit or loss (net of tax)
Total other comprehensive (Income)/ Joss, net or income tax
Other comprehensive (income)/ loss, net of income tax from discontinued
operations
Items tat will be reclassified to profit or loss {net of tax)
Items that will not be reclassified to profit or loss (net of tax)
Total other comprehensive (Income)/ loss, net of incometax
Total comorehenslve income fortheDeriodIvearl11 - 121
Paid-u equity share capital (Face value of Rs. 2/-)
Resere excluding revaluation reserves
Netorth
Ear�ngs per share (not annualised) (Face value of Rs, 21)
(a) Basic for continuing operations
(b) Diluted for continuing operations
(c) Basic for discontinued operations
(d) Diluted for discontinued operations
(e) Basic for continuing and discontinued operations
rhDiluted for continuina and discontinued ooerations		 111,462
371
111 833		 115,225
266
**115,491 **		 110,740
226,687
542
637
111,282
227 324
1,519
113 352
13,844
72,590
(9,545)
943
9,234
3,479
19,606
1,729
111,880
1 472
717
(535)
-
182

2 811		 512 13.179
(13)
13
•2941		 19 29 4 7
19		 7
55
1307
-		 1
13		 19
<71•
1711		 1294\

-
 26
-
•71)
1711		 62

171•

1711

-
1 597
1.12
1.12
1.12
1.12
2 798

2.44

2.44
-

2.44

2.44		 2780
2.75
2.74
(0,39)
(0 39)
2.36
2.35		 4 395
6 557
3,56
6.01
3.55
6,00
(0,36)
-
(0,36)
3.56
5,65
3.55
5.64		 13 188
2,304
141,006
145,501
11.81
11.79
(0.36)
(0,36)
11.45
11.43

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SIGNED FOR IDENTIFICATION
BY �
SR BC & CO LLP
MUMBAI
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Notes to the standaJone financial results:

  • 1) In the previous year ended, March 31, 2024, the Hon'ble National Company Law Tribunal. Mumbai Bench, vide its order dated March 01, 2024 ("Order") passed in the matter of Company Scheme Petition No. C.P (C.A.A)/250(MB)2023 connected with C.A. (CAA)/246(MB) 2022) ("Petition") in respect of the Scheme, has inter-alia approved the Scheme of Merger by Absorption of Nirlep Appliances Private Limited ('Transferor Company") with Bajaj Electricals Limited ("Transferee Company") and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Scheme").

Accordingly. the Company had accounted for the merger under the pooling of interest method retrospectively for all periods/year presented as prescribed in IND AS 103 Business Combinations of entities under common control. Accordingly, the period for six months and quarter ended September 30, 2023 numbers have been restated. The summary of the restatement is as below

Parculars
Total Revenue from operations
Proft before tax from ccntinuing operatons		 Quarer ended
Six months ended
30-Sep-23
30-Sep-23

 Quarer ended
Six months ended
30-Sep-23
30-Sep-23
Repored
Restated
Repored
111,275
111,282
222,478
5,046
4,515
10,925		 Restated
222,495
9,817
Net profit for the period / year from continuing operations
Profit/ (loss) before tax from discontinued operations
Net profit/ (loss) for the period / year from discontinued operations
Net Proft for the period / year		 3,784
3,168
8,086
(595)
(595)
(553)
(440)
(440)
(409)
3,344
2,728
7,677		 6,921

(553)

(409)
6,512
Total other comprehensive (income) / loss, net of income tax from continuing
oierations
15
19
22		 26
(71)
Total other comprehensive (income)/ loss. net of income tax from discontinued
operations
(71)
(71)
(71)
Total compehensive income for the period/ year 3,400
2,780
7,726~~i~~
6,557

Additionally, subsequent to the merger, the Company had deemed brought forward losses of Nirtep Appliances Private Limited and temporary differences on Property, Plant and Equipment as recoverable in tax and hence had credited an amount of Rs 1,0J O lakhs to the tax charge for the year/quarter ended March 31, 2024

2) During the previous year. the Scheme of Arrangement between Bajaj Electricals Limited ("Demerged Company") and Bajel Projects Limited ("Resulting Company") and their respective shareholders ("Scheme") became effective after regulatory approvals and conditions precedents. Accordingly, effect of the de-merger has been considered in the standalone financial results for the year ended March 31, 2024. Further as required by the scheme, the assets and liabilities relating to the demerged undertaking including cash generated by the said business from the appointed date of 1st April, 2022 amounting to Rs. 23.843 lakhs have been de-recognised from the books from the effective date of September 1, 2023 and have been adjusted against the retained earnings by Rs. 56,850 lakhs, in the said standalone financial results. The results of the demerged business before the effective date for all the periods/year presented are disclosed as Discontinued operations.

Pariculars Amount
Total assets transferred 100,086
Total liabilities transferred 43,236
Net impactInrtained earnings 56,860
  • 3) -During the year ended March 31, 2024, the Company had received an income tax refund order of Rs. 12,577 lakhs, including interest on income tax refunds of Rs. 4,056 lakhs. The said interest was recorded as other income in the above standalone financial results. The same has been presented as an unallocable income in segment reporting.

4) Pursuant to change in tax rate on long term capital gain and withdrawal of the indexation benefit on long term capital gains on enactment of the Finance Act 2024, the Company has reassessed deferred tax asset/ liabilities on land which have been fair valued in earlier years resulting in a net reduction of 215.67 lakhs considered as a one time cumulative true up as al September 30, 2024 while computing the profit after tax for the quarter ended September 30, 2024

  • 5) The above standalone results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on November 7, 2024.

  • 6) These standalone financial results are available on the Company's website viz. www.bajajelectricals.com and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).

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BY
-f\:"-'
SR BC & CO LLP
MUMBAI
SIGNED FOR IDENTIFICATION
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v
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Bajaj Electricals Limited

CIN: L31500MH1938PLC009887

Registered Office: 45/47, Veer Nariman Road, Mumbai - 400 001

Tel. 022-61497000 Website: http://www.bajajelectricals.com Email: [email protected]

STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2024

(Rs. In Lakhs) (Rs. In Lakhs)
Pariculars
ASSETS
Non-Current Assets
Property, plant and equipment
Capital work in progress
Right-of-use assets
Other intangible assets
Intangible assets under development
Investment properties
Goodwill
Investments in an associate
Financial Assets
i) Investments
ii) Trade receivables
iii) Other financial assets
Deferred tax assets ( net)
Income tax assets (net)
Other non-current assets
Total Non-Current Assets
Current Assets
Inventories
Financial Assets
i)lnvestments
ii)Trade receivables
iii)Cash and cash equivalents
iv)Bank balances other than (iii) above
v)Loans
vi)Other current financial assets
Other current assets
Contract assets
Assets classified as held for sale
Total Current Assets
Total Assets		 Standalone
As at 30-Sept-24 As at 31-Mar-24
(Unaudited)
(Audited)
(refer note 21
36,507
35,236
5,326
6,184
23,284
22,222
1,180
1,542
159
162
13,532
13,582
19,001
19,001
-
-
507
493
1,046
1,293
8,821
5,028
-
530
9,233
8,334
8,762
8,497
127,358
122,104
75,526
75,664
3,603
3,005
109,975
116,318
3,508
11,402
112
16.066
49
50
29,181
1,084
36,272
36,838
1,083
325
259,309
260,752
219
460
259,528
261,212
386,886
383,316

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SIGNED FOR tDENTIFICATION
BY
SR BC & CO LLP
MUMBAt
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(Rs. In Lakhs)

(Rs.In Lakhs)
Particulars Standalone
As at 30-Sept-24
As at 31-Mar-24
(Unaudited)
(Audited)
(refer note 2)
EQUITY & LIABILITIES
EQUITY
Equity share capital
Other Equity
Total Equity
LIABILITIES
Non-Current Liabilities
Financial Liabilities
ia) Lease liabilities
ii) Other fnancial liabilities
Provisions
Employee Benefit Obligations
Deferred tax liabilities (net)
Total Non-Current Liabilities
Current Liabilities
Financial Liabilities
ia) Lease liabilities
ii) Trade credits
iii) Trade payables
a) Total outstanding dues of micro enterprises & small enterprises
b) Total outstanding dues of other than micro enterprises & small enterprises
iv) Other current fnancial liabilities
Provisions
Employee benefit obligations
Current tax liabilities (net)
Contract liabilities
Other current liabilities
Total Current Liabilities
Total Liabilities
Total Equity & Liabilities		 2,306
2,304
143,976
141,818
146,282
144,122
17,918
17,261
17
16
941
970
4,954
5,191
301
-
24,131
23,438
4,996
4,228
135,997
128,272
3,951
3,782
47,186
52,118
4,124
6,520
4,957
5,228
1,357
1,325
2,687
2,687
4,763
4,496
6,455
7,100
216,473
215,756
240,604
239,194
386,886
383,316

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SIGNED FOR IDENTIFICATION
BY
SR BC & CO LLP
MUMBAI
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Bajaj Electricals Limited

GIN: L31500MH1938PLC009887

Registered Office: 45/47, Veer Nariman Road, Mumbai -400 001 Tel. 022-61497000 Website: http://www.bajajelectricals.com Email: [email protected]

STANDALONE CASH FLOW STATEMENT FOR SIX MONTHS ENDED 30th SEPTEMBER 2024

STANDALONE CASH FLOW STATEMENT FOR SIX MONTHS ENDED 30th SEPTEMBER 2024 SEPTEMBER 2024 SEPTEMBER 2024 SEPTEMBER 2024
Particulars Six months ended
30-Sep-24
(Rs in Lakhs)
Six months ended
J0-Sep-23
Cash flow from operating activities
Profit before income tax from continuing operations
Adjustmentsfor:
Depreciation and amortisation expense
Employee share-based payment expense
Gain on disposal of propery, plant and equipment (net) and right of use assets
Measurement of financial assets held at fair value through Profit or Loss
Measurement of financial assets and liabilities held at amorised cost
Finance costs
Interest income
Credit balance written back
Impairment allowance for doubtful debts & advances (net of write back)
Bad debts and other irrecoverable debit balances written off
Changeinoperating assets and liabilities:
(lncrease)/decrease in trade receivables (current & non-current)
(lncrease)/decrease in financial and other assets (current & non-current)
(lncrease)/decrease in inventories
lncrease/(decrease) in trade payables, provisions, employee benefit obligations, other financial liabilities,
trade credits and other liabilities (current & non-current)
Cash generated from operations from continuing operations
Income taxes paid (net of refunds)
Net cash Inflow from operating activities from continuing operations
Net cash infow/ (outlow) from operating activities from discontinued operations
Net cash Inflow from operating activities from continuing and discontinued operations (A)
Cash flows from investing activities
Purchase of propery, plant and equipment including cpital work in progress and capital advances
Purchase of intangible assets including intangible assets under development
Proceeds from sale of propery, plant and equipment including advances received
Proceeds from sale of assets held for sale
Proceeds from sale of investment properties		 (Unaudited)
5,301
6,675
700
(190)
(112)
(68)
3,307
(1,154)
(112)
89
(64)
(Unaudited)
(refer note 1)
9,817
4,985
567
(6)
37
(54)
2,557
(1,001)
-
411
(13)
14 372

17 300
6,504
(2,121)
138
2,990
(9,733)
9,422
150

(11,933)
19,043
8,046
(1,3661
1,474

17.677
-
17,677
(2,151)
(183)
240
241
2
9 520
(299)
9,221
(7,284)
(335)
10
-
-

Purchase of mutual funds
Proceeds from sale of mutual funds
Investments in bank deposits
Interest received
Net cash used in investing activities for continuing operations
Netcash used in investing activities fr discontinued operations
Net cash used in investing activities for continued and discontinued operations (B)
Cash flows from financing activities
Proceeds from exercise of share options
Repayment of borrowings
Payment of principal portion of lease liabilities
Interest paid on lease liabilities
Interest paid
Dividend paid to equity shareholders
Net cash usedinfinancing activities for continuing operations
Net cash usedinfinancing activities fr discontinued operations
Net cash usedinfinancing activities for continuing and discontinued operations (C)
Net increase/ (decrease)incash and cash equivalents (A+B+C)
Cash and cash equivalents at the beginning of the period
Less: Cash transferred pursuant to demerger (refer note 2)
Cash and cash equivalents at the end of the period
Cash and cash equivalents from continuing operations
Cash and cash equivalents from discontinued operations
Cash and cash eouivalents from continuing and discontinued operations		 (500)
-
(15,929)
1,234

(7,622)
11,700
(10,918)
871
{17,046 {13,578
117,0461
546
-
(2,348)
(996)
(2,270)
I3,457l
~~-~~
113,5781
129
(17)
(1,552)
(619)
(1,870)
14,604)
(8525)
**(8533) **

~~-~~
18,525)
17894)
18 533}
**1128901 **
11,402
.

34,176
(13 511)
3,508
3,508
-

7 775

7,775
-
3,508
7,775

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SIGNED FOR IDENTIFICATION
BY
�
SR BC & CO LLP
MUMBAI
----- End of picture text -----

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Bajaj Electricals Limited

CIN. L31500MH1938PLC009887 Registered Office: 45/47, Veer Nariman Road, Mumbai -400 001 Tel. 022-61497000 Website . http://www.bajajelectricals.com Email : [email protected]

STANDALONE SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND SIX MONTHS ENDED 3oth SEPTEMBER 2024

{Rs In Lakhs) {Rs In Lakhs) {Rs In Lakhs) {Rs In Lakhs) {Rs In Lakhs) {Rs In Lakhs) {Rs In Lakhs)
Sr.
No.
A)
1
2
B)
Paricular
CONTINUING QPERTONS
Segment Revenues
A)Consumer Products
B) Ughting Solutions
Revenue from Operations
Segment Proft before Tax and Finance cost
A)Consumer Products
8) Lighting Solutions
Less:
A) Finance Cost
B) Other un-allocable expenditure net of unallocable income (refer note 3)
Profit before tax fromcontinuingoperations
DISCONTINUED OPERATIONS!EPC) frefer note 2)
Revenue from discontinued operations
Segment Profit/ (Loss) before Tax and Finance cost
Profit/ (loss)before tax from discontinued operations		 Quarer ended
Six months ended
Year ended
30-Seo-24
30-Jun-24
30-Seo-23
30-Seo-24
(Unaudited)
(Unaudited)
(Unaudited)
(refer note 1)
(Unaudited)
30-Jun-24
30-Seo-23
30-Seo-24		 30-Sea-23
31-Mar-24
(Unaudited)
(refer note 1)
(Audited)
(refer note 2)
86,827
90,516
85,757
177,343
25,006
24,975
25,525
49,981
111,833
115,491
111,282
227,324
886
2,308
4,136
3,194
1,490
2,612
1,440
4,102
2,376
4,920
5,576
7,296
1.729
1,578
1,406
3,307
(825)
(487)
(345)
(1,312)		 173,017
49,478
360,390
103,737
115,491
2,308
2,612
4,920
1,578

(487)		 111,282
227,324
4,136
3,194
1,440
4,102		 222,495
8,201
3,373
46,127
11,422
7,961
2,376
1.729
(825)		 5,576
7,296
1,406
3,307

(345)
(1,312)		 11,574
2,557
(800)

19,383
6,348
14,2751
17,310
34,038
(184)
(553)
246,787
51,416
85,113
1,472
-		 3,829
-		 4,515
5,301
13,537
(438)
(595)		 9,817
34,038
(184)
(553)
243,266
229,327
251,083
243,266
54,055
50,574
50,269
54,055
-
-
-
89,565
97,632
77,388
89,565		 251,083
50,269
77,388
378,740
188,278
47,952
-
7,695
243,925		 383,316
175,389
50,680
13,125
239,194
Solutions.
includes Power
SIGNED FOR IDENTIFICATION
BY
�
SR BC & CO LLP
MUMBAI
Place : Mumbai
Date : November 7, 2024
By Order of the Board of Directors
__
/�.;�
for 8aJaJ Electncals Limited
ff,§�
�-
.V. H. R_i_f
{

Shekhar 8aIaI
-���'"
Chairman
,,.a

==> picture [476 x 76] intentionally omitted <==

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SIGNED FOR IDENTIFICATION By Order of the Board of Directors __
for 8aJaJ Electncals Limited
BY
� /),:�.-;�
SR BC & CO LLP �-- V. H. Rd; f
.,l i
Place : Mumbai MUMBAI Shekhar 8aIaI {* -
Date : November 7, 2024 Chairman ��� ,., [.a ] '"
ff
,{§�
----- End of picture text -----*

SR BC& COLLP Chartered Accountants

12th Floor, The Ruby 29 Senapati Bapat Marg 0adar < West) Mumbai - 400 028, India

Tel: +91 22 6819 8000

Independent Auditor's Review Report on the Quarterly Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Bajaj Electricals Limited

  1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Bajaj Electricals Limited (referred to as "Holding Company) and an associate (together referred to as "the Group") for the quarter ended September 30, 2024 and year to date April 01, 2024 to September 30, 2024 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

  2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

  3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

  1. The Statement includes the results of the following entities
Name of the Entity
Bajaj Electricals limited
Hind Lamps Limited		 Relationship
Holding Company
Associate
  1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

==> picture [78 x 83] intentionally omitted <==

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Page 1 of 2

S R B C & co LLP, a Limited Liability Partnership with LLP Identity No. AAB·4318

Regd. Office; 22, Camac Street. Block 'B', 3rd Floor, Kolkata·700 016

Bajaj Electricals Limited Limited review report for consolidated financial results

SR BC & CO LLP Chartered Accountants

  1. The accompanying Statement includes the unaudited interim financial result and other unaudited interim financial information, in respect of 1 associate, whose unaudited interim financial result include Group's share of net profit of Rs. 0.00 lakhs and 0.00 lakhs and Group's share of total comprehensive income of Rs. 0.00 lakhs and 0.00 lakhs for the quarter and for the period ended as on date respectively, as considered in the Statement.

The unaudited interim financial result and other unaudited interim financial information of this associate have not been reviewed by their auditor and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of this associate, is based solely on such unaudited interim financial results and other unaudited interim financial information. According to the information and explanations given to us by the Management, this unaudited interim financial result and other unaudited interim financial information are not material to the Group.

Our conclusion on the Statement in respect of matter stated in para 6 is not modified with respect to our reliance on the work done and the financial result certified by the Management.

For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

e Aruna Kumaraswamy Partner Membership No.: 219350 UDIN: 24219350BKCSZD1825 Mumbai, November 07, 2024

==> picture [88 x 88] intentionally omitted <==

Page 2 of 2

Bajaj Electricals Limited

CIN: L31SOOMH1938PLC009887

Registered Office: 45/47, Veer Nariman Road. Mumbai - 400 001

Tel. 022-61497000 Website: http:1/W'N.v.bajaje!ectricals.com Email: [email protected]

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30th SEPTEMBER 2024

(Rs. In Lakhs ex cept per share data) cept per share data)
Sr.No.
Particulars
 Quarer ende d Six mo nths ended Year ended
30-Sep-24
(Unaudited
111.4
3
111,8
30.Jun-24
)
(Unaudited)		 30-ep23
(Unaudited)
30-Sep-24
(Unaudited)		 30-Sep-23
(Unaudit�)		 31-Mar-24
(Audited)
(refer note 2)
1
2
3
4
5
6
7
a
9
10
11
12
13
14
15
16
17
18
19
20
Revenue from contnuing operations
(a) Net sales
(b) Other operatng income
Total Revenue from operations
Other income (refer note 3)
Total Income (1 + 2)
Expensas
(a) Cost of raw materials consumed
{b) Purchase of taded goods
(c) Changes in inventories of fnished goods, wrk-in-progress and traded goods
(d) Erecton & Subcontractng Expenses
(e) Employee benefit expense
(f) Depreciation and amortisation expense
(g) other expenses
(h) Finance Costs
Totl Expenses
Profit before share of profit I (loss) of an associate and tax from continuing operations (3 -
4)
Share of proft/ (loss) of an associate
Profit before tax from continuing operations (5 + 6)
Tax Expense / (Credit) from continuing operatons
Current T2x
Deferred Tal (refer note 1 and 4)
Adjustment of tax relatng lo earlier periods
Total Tax Expense/ (Income) from continuing operations
Net Profit for te period/ year from continuing operations ( - 8)
Profit/ (loss) before tax from discontinued operations (refer note 2}
Tax expense f (Credit) from discontinued operatons
Net proft f {lossl for the period I year from discontinued opcntlons (10 • 11)
Net Profit fr the period I year (9 + 12)
0er comprehmsive (income) I loss, net of income tax from continuing operations
Items that 'll be reclassifed to profit or loss (net of tax)
Items thatlll not be reclassifed to profit or loss (net of tax)
Totl other comprehensive (Income) I loss, net of income tax
Other comprehensive {income)/ loss, net of income tax from discontinued operations
Items that wll be reclassified ta proft or loss (net of tax)
Items that v11 not be reclassifed to profit or loss (net of tax)
Total other comprehensive (income) f IDS$, net of income tax
Total compreheMive income for the period/ year (13 .14,
Net Proft atributable to (continued operations)
-Owers
- Non-contolling interests
Net Profit attributable to (contnued and discontinued operatons)
-Owers
- Non-contolling interests
Total comprehensive income attributable to (contnued and discontinued operations)
-Owers
- Non-contolling interests
Paid-up equity share capital (Face value of Rs. 2/-)
Reserve excluding revaluation reserves
Netrt
Earnings per share (not annualised) (Face value of Rs, 2/)
(a) Basic for conlinuing operatons
(b) Diuted for continuing operations
(c) Basic for discontinued operations
(d) Diluted for discontinued operations
(e) Basic for continuing and discontinued operatons
(f) Diluted for contnuing and discontinued operations		 62
71
33		 115,22
26
115,49		 5
110,74
6
54
1
111,28
2
1,08
3
112,36		 0
2
2		 226,68
63
227,32		 7
221,53
7
95
4
222,49		 8
7
5		 462,235
1,892
464,127
1,5
113,3		 19
52		 1,06
116,55		 2
3		 1
3
2,58
229,90		 2,58 1
2,12
5
224,62		 9
8,647
4
472 TT4
13,8
72,5
(9,5
9
9,2
3,4
19,6
1,7		 44
90
45)
43
34
79
06
29		 13,31
56,14

9,12
1.00
9,32
3,19
19,04
1,57		 1
4
1
8
1
6
5
8		 14,57
73.94
(10,66
38
9,63
2,68
15,88
1,40		 5
9
9)
4
1
8
4
6
27,15
128,73
(42
1,95
18,55
6,67
38,65
3,30		 5
27.10
4
121,79
4)
6,55
1
1,05
5
18,62
5
4,98
1
32,13
7
2,55		 3
51,349
9
256,675
2
18,060
0
2,621
7
36,493
5
10,958
4
72,960
7
6,348
111,8 80 112,72 4 107,84 8 224,60 4
214,80		 7
455,464
1,4 72 3,82 9 4,51
4,51		 5
5
5,30
5,30		 1
9,81		 7
17,310
1,4 72 3,82 9 1
9,81		 7
17,310
7
(5		 17
35)		 1,16

(14		 5
1,45
7)
(11
1		 4
8)
1
1,88
(68		 2
3,05
2)
(17
1		 5
5,720
0)
(2,009)
1
11
1 82 1,01 8 1,34 7
1,20		 0
2,89		 6
3,722
1,2
90
2,81		 1 3,168
(624)
11841
140/
4,10		 1
6,92		 1
13,588
1)
(681)
1)
(201)
0
1480)
(68
(20
(48
1,2
(
(2
13
1,5
1,2
1,29
-
1,5
1.1
1.1
1.1
1.1		 90
2,81
13)
1
94)
07)
1
97
2,798
90
2,811
0
2,811
97
2.798
2
2.44
2
2.44
2
2.44
2
2.44		 2,72
1		 1
13,108
1
3		 8
9
4,10
(29		 1
6,44

4)
19
3







 19
(1)
(71)
2,780
3,168
2,728
2,780
2.75
2.74
(0,38)
(0.38)
2.37
2.36
129
- -
4,395
4,101
4.101
-
4,395
3.56
3,55
3.56
3.55
0
8
8
0
4,395
4,101
4.101
-
4,395
6,486

6,921

6,441

6,486
13,117

13,588

13,108

13,117
5
4
8)
)
7

3.56
3,55
3.56
3.55
6.01

6.00
(0.42
(0.42

5.59

5.58		 2,304
141,006
145,501

11.81

11.79
)
(0,42)
)
(0,42)

11.39

11.37

SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMBAI

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Notes to the consolidatea financial results:

==> picture [473 x 306] intentionally omitted <==

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1) In the prevtous year ended, March 31, 2024. the Hon'ble National Company Law Tribunal, Mumbai Bench, vide its order dated March 01, 2024 ("Order) passed ln the matter of Company
Scheme Petition No. C.P (C.A.A)/2SO(MB)2023 connected with C.A. (CAA)/246(M8)2022) ("Petition") in respect of the Scheme). has inter-alia approved the Scheme of Merger by Absorption
of Nirlep Appliances Private Limited ("Transferor Company") with Bajaj Electricals Limited ("Transferee Company'') and their respective shareholders under Sections 230 to 232 and other
applicable provisions of the Companies Act. 2013 ("Scheme").
Accordingly, the Parent Company had accounted for the merger under the pooling of interest method retrospectively for an periods/year presented as prescribed in IND AS 103 Business
Combinations of entities under common control. This combination has no impact on the consolidated financial results.
Additionally, subsequent to the merger, the Parent Company had deemed brought forward losses of Nirlep Appliances Private Limited and temporary differences on Property, Plant and
Equipment as recoverable in tax and hence had credited an amount of Rs 1,010 lakhs to the tax charge for the year/quarter ended March 31, 2024
2) During the previous year, the Scheme of Arrangement between Bajaj Electricals Limited ("Demerged Companl) and Bajel Projects Limited ("Resulting Company'') and their respective
shareholders ("Scheme") became effective after regulatory approvals and conditions precedents. Accordingly, effect of the de-merger has been considered in the consolidated financial
results tor the period ended March 31, 2024. Further as required by the scheme, the assets and �abilities relating to the demerged undertaking including cash generated by the said business
from the appointed date of 1st April, 2022 amounting to Rs. 23,843 lakhs have been de-recognised from the books from the effective date of September 1, 2023 and have been adjusted
against the retained earnings by Rs. 56,749 lakhs. in the said consolidated financial results. The results of the demerged business before the effective date for all the periods presented
continue to be disclosed as Discontinued operations.
Particulars Amount
Total assets transferred 100,086
Total liabilities transferred 43,337
Net impact In retained earnings 56,749
3) During the year ended March 31, 2024, the Parent Company had received an income tax refund order of Rs. 12,STT lakhs, including interest on income tax refunds of Rs. 4,056 lakhs. The
said interest was recorded as other income in the above consolidated financial results. The same has been presented as an unallocable income in segment reporting.
4) Pursuant to change in tax rate on long term capital gain and withdrawal of the indexation benefit on long term capital gains on enactment of the Finance Act 2024. the Parent Company has
reassessed deferred tax asset/ liabilities on land which have been fair valued in earlier years resulting in a net reduction of 215.67 lakhs considered as a one time cumulative true up as at
September 30, 2024 while computing the profit after tax for the quarter ended September 30, 2024
5) The above consolidated results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on November 7, 2024.
6) These consofidated financial results are available on the Parent Company's website viz. www.baj2jelectricals.com and on the websites of BSE (www.bseindia.com) and NSE
(www.nseindia.com}.
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SIGNED FOR IDENTIFICATION
BY
,--NA-
s RB C & CO LlP
MUMBAI
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==> picture [74 x 73] intentionally omitted <==

Bajaj Electricals Limited

CIN: L31500MH1938PLC009887

Registered Office: 45/47, Veer Nari man Road, Mumbai -400 001 Tel. 022-61497000 Website: http://www.bajajelectricals.com Email . [email protected]

STATEMENT OF ASSETS AND LIABILITIES AS AT 30th SEPTEMBER, 2024

(Rs. In Lakhs) (Rs. In Lakhs)
Pariculars Consolidated
As at 30-Sep-24
(Unaudited)
As at31-Mar-24
(Audited)
lrefernote**21 **
ASSETS
Non�urrent Assets
Property, plant and equipment
Capital work in progress
Right-of-use assets
Other intangible assets
Intangible assets under development
Investment properties
Goodwill
Financial Assets
i)lnvestments
ii)Trade receivables
iii)Other financial assets
Deferred tax assets (net)
Income tax assets (net)
Other non-current assets		 36,507
5,326
23,284
1,180
159
13,532
19,001
507
1,046
8,821
-
9,233
8,762
35,236
6.184
22,222
1,542
162
13,582
19.001
493
1,293
5.028
530
8,334
8,497
Total Non-Current Assets
Current Assets
Inventories
Financial Assets
i)lnvestments
ii)Trade receivables
iii)Cash and cash equivalents
iv)Bank balances other than (iii) above
v)Loans
vi)Other current linancial assets
Other current assets
Contract assets
Assets classified as held for sale
Total Current Assets
Total Assets		 127,358
75.526
3,603
109,975
3,508
112
49
29,181
36,272
122,104
75.664
3,005
116,318
11,402
16,066
50
1,084
36,838
1 083 325
259,309
219		 260,752
460
259,528
386,886
261,212
383,316

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SIGNED FOR IDENTIFICATION
BY �
tr'
SR BC & CO LLP
MUMBAI
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(Rs. In Lakhs)
Pariculars Consolidated
As at 30-Sep-24
As at 31-Mar-24
(Unaudited)
(Audited)
(refer note 2)
2,306
2,304
143,976
141,818
146,282
144,122
17,918
17,261
17
16
941
970
4,954
5,191
301
.
EQUIT&LIABILITES
EQUIT
Equity share capital
Other Equity
Total Equity
LIABILITIES
Non-Current Liabilities
Financial Liabilities
ia) Lease liabilities
ii) Other financial liabilities
Provisions
Employee Benefit Obligations
Deferred tax liabilities (net)
Total Non-Current Liabllltles
Current Liabilities
Financial Liabilities
ia) Lease liabilities
ii) Trade credits
iii) Trade payables
a) Total outstanding dues of micro enterprises & small enterprises
b) Total outstanding dues of other than micro enterprises & small enterprises
iv) Other current financial liabilities
Prvisions
Employee benefit obligations
Current tax liabilities (net)
Contract liabilities
Other current liabilities
Total Current Liabilities
Total Liabilities
Total Equity&Liabilities
24,131
23,438
4,996
4,228
135,997
128,272
3,951
3,782
47,186
52,118
4,124
6,520
4,957
5,228
1,357
1,325
2,687
2,687
4,763
4,496
6,455
7,100
216,473
215,756
240,604
239,194
386,886
383,316

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SIGNED FOR IDENTIFICATION
BY
SR BC & CO LLP
MUMBAI
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----- Start of picture text -----

V
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Bajaj Electricals Limited

CIN : L31500MH1938PLC009887 Registered Office: 45/47, Veer Nariman Road, Mumbai -400 001 Tel. 022-61497000 Website: http://www.bajajelectricals.com Email : [email protected]

CONSOLIDATED CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2024

CONSOLIDATED CASH FLOW STATEMENT FORTHESIX MONTHS EN DED 30th SEPTEMBER 2024
(Rs in Lakhs)
Pariculars Six months ended
30-Sep-24
Six months ended
30-Sep-23
Cash flow from operating activities
Profit before income tax
Adjustmentsfor:
Depreciation and amortisation expense
Employee share-based payment expense
Gain on disposal of property, plant and equipment (net)
Measurement of financial assets held at fair value through Profit or Loss
Measurement of financial assets and liabilities held at amorised cost
Finance costs
Interest income
Credit balances 'itten back
Impairment allowance for doubtful debts & advances {net of write back)
Bad debts and other irrecoverable debit balances written off
Change in operating assets and liabilities:
{lncrease)/decrease in trade receivables {current & non-current)
{lncrease)/decrease in financial and other assets {current & non-current)
(lncrease}/decrease in inventories
lncrease/(decrease) in trade payables , provisions, employee benefit obligations, other financial
liabilities, trade credits and other liabilities (current & non-current)
Cash generated from operations from continuing operations
Income taxes paid {net of refunds)
Net cash Inflow from operating activities
Net cash Inflow/ (outflow) from operating activities from discontinued operations
Net cash Inflow from operating activities from continuing and discontinued operations (A)
Cash flows from investing activities
Purchase of property, plant and equipment including capital work in progress and capital advances
Purchase of intangible assets including intangible assets under development
Proceeds from sale of propery, plant and equipment including advances received
Proceeds from sale of assets held for sale
Proceeds from sale of investment properties
Purchase of mutual fund
Proceeds from sale of mutual fund
Investments in bank deposits
Interest received
Net cash used in investing activities
Net cash usedininvesting activities for discontinued operations
Net cash used In investing activities for continued and discontinued operations (B)
Cash flows from financing activities
Proceeds from exercise of share options
Repayment of borrowings
Payment of principal portion of lease liabilities
Interest paid on lease liabilities
Interest paid
Dividend paid to equity shareholders of the Parent Company
Net cash usedinfinancing activities
Net cash used In financing activities for discontinued operations
Net cash used in financing activities for continuing and discontinued operations (C)
Net increase/ (decrease) In cash and cash equivalents (A+B+C)
Cash and cash equivalents at the beginning of the period
Less: Cash transferred pursuant to demerger (refer note 2)
Cash and cash equivalents at the end of the period
Cash and cash equivalents from continuing operations
Cash and cash equivalents from discontinued operations
Cash and cash eouivalents from continuinQand discontinued operations		 (Unaudited)
5,301
fUnaudited)
9,817
6,675
700
(190)
(112)
(68)
3,307
{1,154)
(112)
89
(64)
4,985
567
(6)
37
(54)
2,557
(1,001)
-
411
(13/
14,372
17,300
6,504
(2,121)
138
150
2,990
(9,733)
9,422
(11,933)
19,043
8,046
(1,366)
1,474
11,sn
9,520
-
17,677
(2,151)
(183)
240
241
2
(500)
-
(15,929)
1,234
(299)
9,221
(7,284)
(335)
10
-
-
(7,622)
11,700
{10,918)
871
(17,046)
**(13578) **
~~-~~
~~-~~
(17,046)
(13,578)
546-
(2,348)
(996)
(2,270)
(3,457)
129
(17)
(1,552)
(619)
(1,870)
(4,604)
(8,525)
**18,533) **
~~-~~
~~-~~
(8,525)
(8,533)
(7 894)
(12,890)
11,402

34176
3,508
3,508
(13 5111
7,775
7 775
~~-~~
~~-~~
3.508
7 775

BY � SR BC & CO LLP MUMBAI SIGNED FOR IDENTIFICATION

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----- Start of picture text -----

V
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==> picture [74 x 75] intentionally omitted <==

Bajaj Electricals Limited

CIN: L31500MH1938PLC009887

Registered Office: 45/47, Veer Nariman Road, Mumbai -400 001 Tel. 022-61497000 Website: http://www.bajajelectricals.com Email· [email protected]

CONSOLIDATED SEGMENlWISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER ENDED AND SIX MONTHS ENDED 30th SEPTEMBER 2024

(Rs.In**Lakhs) ** (Rs.In**Lakhs) ** (Rs.In**Lakhs) ** (Rs.In**Lakhs) ** (Rs.In**Lakhs) **
Sr.
No.
Pariculars		 30-Sep-24 Quarer ended
Six month ended
30-Jun-24
30-Sep-23
30-Sep-24
30-Sep-23

I
Year ended
I
31-Mar-24
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
86,827
90,516
85,757
177,343
173,017
25,006
24,975
25,525
49,981
49.478
111,833
115,491
111,282
227,324
222,495
886
2,308
4,136
3,194
8,201
1.490
2,612
1.440
4,102
3,373
(Audited)
(refer note 21
360,390
103.737
464,127
11,422
7,961		 (Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Audited)
**(refer note 21 **
A)
1
2
B)
C)
D)
CONTINUING OPERATIONS
Segment Revenues
A) Consumer Products
B) Lighting Solutions
Revenue from Operations
Segment Profit before Tax and Finance Cost
A) Consumer Products
8) Lighting Solutions
Less:
A) Finance Cost
8) Other un-allocable expenditure net of unallocable income (refer note 3)
Profit before exceptional items, share of profitI(loss) of an associate
and tax
Share of profit_I_(loss) of an associate•
Profit before tax from continuing operations
DISCONTNUED QPERATIONS !EPClrefer note 21
Revenue from discontinued operations
Segment Profit/ (Loss) before Tax and Finance Cost
Profit_I_(loss) before tax from discontinued operations
Segment Assets
A) Consumer Products
8) Lighting Solutions
C) Assets as classified as Discontinued Operations (EPC)
D) Unallocable_I_Corporate Assets
Total
Segment Liabilities
A) Consumer Products
B) Lighting Solutions
C) Liabilities directly associated with Discontinued Operations (EPC)
D) Unallocable/ Corporate Liabilities
Total
2,376
4,920
1,729
1,578
(825)
(487)		 5,576
7,296
1.406
3,307

(345)
(1,312)
1,472
3,829
4,515
5,301
.
.
13,537
.
.
(467)
(624)
.
243,266
229,327
251,083
243,266
54,055
50,574
50,269
54,055
.
89,565
97,632
77,388
89,565
386,886
377,533
378,740
386,886
182,981
168,971
188,278
182,981
45.904
45,861
47,952
45,904
-
.
.
11,719
15,374
7,695
11,719		 9,817
34,038
(312)
(681)
251,083
50.269
77.388
378,740
188,278
47.952
7,695
17,310
34,038
(312)
(681)
246,787
51,416
85,113
383,316
175,389
50,680
13,125
240,604 230,206 243,925
240,604
243,925		 239,194
• pertains to consumer products segment
Note:
The Group pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products and Lighting Solutions.
"Consumer Products" includes Appliances, Fans and Morphy Richards. "Lighting Solutions" includes Professional Lighting (B28) and Consumer Lighting (82C). Additionally 'EPC' includes Power
Transmission and Power Distribution is presented as discontinued operations since it was demerged as refered to in note 2 of the consolidated financial resutts .
SIGNED FOR IDENTlFICATION
BY
(�
SR BC & CO LLP
MUMBAI
Place:Mumbai
Dato : November 72024
.. �•-:�
By Order of the Board of Directors
s
.
clR,��
�
for Bajaj Electricals Limited
f"
�
I<
"7!�
�
3V.N.A;
�
�
(
�A\•O'
°
Shekhar Bajaj
Chairman
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  • pertains to consumer products segment

Note:

The Group pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products and Lighting Solutions. "Consumer Products" includes Appliances, Fans and Morphy Richards. "Lighting Solutions" includes Professional Lighting (B28) and Consumer Lighting (82C). Additionally 'EPC' includes Power Transmission and Power Distribution is presented as discontinued operations since it was demerged as refered to in note 2 of the consolidated financial resutts .

Place:Mumbai
Dato : November 7		 SIGNED FOR IDENTlFICATION
BY
(�
SR BC & CO LLP
MUMBAI
2024
.. �•-:�
By Order of the Board of Directors
s
.
clR,��
�
for Bajaj Electricals Limited
f"
�
I<
"7!�
�
3V.N.A;
�
�
(
�A\•O'
°
Shekhar Bajaj
Chairman
�

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