Bajaj Electricals Ltd. — Interim / Quarterly Report 2025

Aug 6, 2024

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Electricals

BAJAJ

August6,2024

To, BSE Limited Department of Corporate Services Ph iroze Jeejeebhoy Towers Dalal Street Mumbai 400 001

: Code No. 500031

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 Tuesday, August 6, 2024 ("Meeting")

A. Unaudited Financial Results of the Comrurny f r the first guarter ended June 30, 2024

Further to our letter dated July 18, 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 the following statements for the first quarter ended June 30, 2024, which were approved and taken on record by the board of directors at its Meeting:

• a) The Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended June 30, 2024, along with the Limited Review Reports as provided by the Statutory Auditors thereon; and

• b} Press Release.

B. Designation as Key Managerial Personnel of the Company

Considering the resignation of Mr. Anuj Poddar, Managing Director & Chief Executive Officer, w.e.f. September 30, 2024, the Board of Directors at its Meeting designated Mr. Shekhar Bajaj, Executive Chairman as the Key Managerial Personnel of the Company, effective from October 1, 2024.

The details/disclosures, as required under Regulation 30 of the SEBI Listing Regulations, read with the SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are provided in Annexure A.

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

baJaJ g p rou

Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400001. Tel: +91 22 6110 7800 I Email: legal@bajajeiectricals.com I CIN: L31500MH1938PLC009887

•>

Electricals

BAJAJ

The Meeting commenced at 11 :15 a.m. and concluded at 1:05 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,

For Bajaj Electricals Limited

�J�

Prashant Dalvi Chief Compliance Officer & Company Secretary

Encl.: As above.

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

Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400001. Tel: +91 22 6110 7800 I Email: legal@bajajelectricals.com I CIN: L31500MH1938PLC009887

SR BC & COLLP Chartered Accountants

12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000

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 June 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 registration number: 324982E/E300003

V���

per Poonam Todarwal Partner Membership No.: 136454 UDIN:24136454BKFOFR6786 Mumbai, August 06, 2024

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Page 1 of 1

SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-431B Regd. Office: 22, Camac Street, Block ·s·, 3rd Floor, Kolkata-700 016

Bajaj Electricals Limited

GIN : L31500MH1938PLC009887

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

STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2024

STANDALONE FINANCIAL RESULTS FOR THE	QUARTER ENDED 30th JUNE 2024	QUARTER ENDED 30th JUNE 2024	QUARTER ENDED 30th JUNE 2024	QUARTER ENDED 30th JUNE 2024	QUARTER ENDED 30th JUNE 2024
Sr.No. Particulars	(Rs. In Lakhs except per share data)
	30.Jun-24 (Unaudited) Quarter ended 31-Mar-24 (Audited) (refer note 4)				Year ended
			30-Jun-23 31-Mar-24 (Unaudited) (Audited) (refer note 1 and (refer note 2) 21
1 2 3 4 5 6 7 8 9 10 11 12 13 Revenue from continuing operations (a) Net sales (b) Other operating income Total Revenue from operations Other income (refer note 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) 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 profitI(loss) for the period/ year from discontinued operations (8 9) Net Profit for the period / 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 reclassified to profit or loss (net of tax) Total other comprehensive (income) / loss, net of income tax Other comprehensive (income)/ loss, net of income tax from discontinued operations Items that 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 income tax Total comorehensive income for the oeriod / vear 111- 121	115,225 266	118,098 110,798 462,235 710 415 1,892
	115,491	118,808 111,213 464,127
	• 1,062 2.246 1.048 8,647
	116,553 13,311 56,144 9,121 1,008 9,321 3,196 19,045 1,578 112,724 121,054 112,261 472,774 11,833 12,528 51,349 66,172 47,850 256,675 5,987 17,221 18,060 1,105 666 2,621 8,284 8,996 36,493 3,019 2,297 10,958 20,453 16,250 72,960 1.756 1. 151 6,348 118,609 106,959 455,464
	3,829 1,165 (147) - 1,018	2,445 5,302 17,310 1,307 1,601 5,720 (1,793) (52) (2,009) - - 11 (486) 1,549 3,722
	2,811 - - - 2,931 - - -			3,753 13,588 42 (553) 11 (144) 31 (409)
	2,811 **2,931 **			3,784 **13,179 **
	13 - - 37			7 7 - 55
	13 37			7 62
	- - - -			- - - 1711 ~~-~~ /711
	~~-~~ ~~-~~
	2 798 2 894			3 777 13 188 2,304 141,006 145,501 3.26 11.81 3.25 11.79 0.03 (0.36) 0.03 (0.36) 3.29 11.45 3.28 11.43
14 15 16 17 Paid-up equity share capital (Face value of Rs. 2/-) Reserve excluding revaluation reserves Networh Earnings per share (not annualised) (Face value of Rs. 2/-) (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 . rflDiluted for continuingand discontinued operations	2.44 2.44 - - 2.44 2.44 2.55 2.54 - - 2.55 2.54

SIGNED[FOR IDENTIFICATION]

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BY � SR BC & CO LLP ____ _ MUM_�8:.:A.:..I ___ _ ,_

Notes to the standalone 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 quarter ended June 2023 numbers have been restated. The summary of the restatement is as below

prescribed inINDAS 103 Business Combinations of entities under commo restated. The summary of the restatement is as below	n control. Accordingly, the quarter en
Partculars	Quarter ended 30-Jun-23
	Reported Restated 111,203 111,213 5,879 5,302 4,302 3,753 42 42 31 31 4,333 3,784 7 7
Total Revenue from operations Profit before tax from continuing operations Net profit for the period / year from continuing operations Profit before tax from discontinued operations
Net profit for the period_I_year from discontinued operations Net Profit for the period / year Total other comprehensive (income) / loss, net of income tax from continuing operations
Total other comprehensive (income) I loss, net of income tax from discontinued operations Total comprehensive income for the period / year	4,326 3,777

Additionally, subsequent to the merger, the Company deems 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 betw n 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.

Particulars	Amount
Total assets transferred	100,086
Total liabilities transferred	43,236
Net impact in retained earnings	56,850

• 3) During the quarter and year ended March 31, 2024, the Company had received an income tax order of Rs. 6,571 lakhs and Rs. 12,577 lakhs, including interest on income tax refunds of Rs. 428 lakhs and Rs. 4,056 lakhs, respectively, which has been recorded as other income in the above standalone financial results. The same has been represented as an unallocable income in segment reporting.

• The standalone figures for the March quarter are the balancing figure between the audited figures in respect of full financial year upto 31st March, 2024 and the unaudited year-to-date figures upto 31st December, 2023 being the date of the end of the third quarter of the financial year which were subjected to limited review.

• 4)

The above standalone results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on August 6, 2024. 5)

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

CIN : L31500MH 1938PLC009887 Registered Office: 45/47, Veer Nariman Road, Mumbai -400 001 Tel. 022-61497000 Website: http://www.bajajelectricals.com Email : legal@bajajelectricals.com

STANDALONE SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES

FOR THE QUARTER ENDED 30th JUNE 2024

		(Rs. In Lakhs)	(Rs. In Lakhs)	(Rs. In Lakhs)	(Rs. In Lakhs)
Sr. No. Particulars		Quarter ended 30-Jun-24 31-Mar-24 30-Jun-23 (Unaudited) (Audited) (Unaudited) ( refer note 4) (refer note 1 and 2)			Year ended 31-Mar-24
			(Audited) ( refer note 4)	(Unaudited) (refer note 1 and 2)	(Audited) (refer note 2)
A) 1 2 B) CONTINUING OPERATIONS Segment Revenues A) Consumer Products B) Lighting Solutions Revenue from Operations Segment Profit before Tax and Finance cost A) Consumer Products B) Lighting Solutions Less: A) Finance Cost B) Other un-allocable expenditure net of unallocable income (refer note 3) Profit before tax from continuing operations DISCONTINUED OPERATIONS (EPC (refer note 2! Revenue from discontinued operations Segment Profit/ (Loss) before Tax and Finance cost Profit/ (loss)before tax from discontinued operations		90,516 24,975 115,491 2,308 2,612 4,920 1,578 (487) 3,829 - - -	91,708 27,100 118,808 1,635 2,314	87,260 23,953 111,213 4,065 1,933	360,390 103,737 464,127 11,422 7,961
			3,949 5,998 1,756 1,151 (252) (455) 2,445 5,302 - 20,501 - 254 - 42		19,383 6,348 (4,275) 17,310 34,038 (184) (553)
C) D)	Segment Assets A) Consumer Products B) Lighting Solutions C) Assets as classified as Discontinued Operations (EPC) D) Unallocable/ Corporate Assets Total Segment Liabilities A) Consumer Products B) Lighting Solutions C) Liabilities directly associated with Discontinued Operations (EPC) D) Unallocable/ Corporate Liabilities Total	229,327 50,574 - 97,632 377,533 168,971 45,861 - 15,374 230,206	246,787 51,416 - 85,113	230,238 50,354 101,872 89,277	246,787 51,416 - 85,113
			383,316 175,389 50,680 - 13,125	471,741 154,800 43,209 43,967 34,827	383,316 175,389 50,680 - 13,125
					239,194

SR BC& COLLP Chartered Accountants

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

Tel: +91226819 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 June 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	Relationship
BajajElectricals limited	HoldinQ Company
Hind Lamps Limited	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,

�� �[s amended, read with relevant rules issued thereunder and other accounting principles generally] .• ccepted in India, has not disclosed the information required to be disclosed in terms of the � � &�(� /� ..o ·sting Regulations, including the manner in which it is to be disclosed, or that it contains any terial misstatement. 1 \ * M ug} �'r[A..][\ ] � ir c,;, \ '?.-9� � �� I ��o�[c<v�][.,.. ]_ \ 'J:. � ::lft

Page 1 of 2

S RB 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 Group's share of total comprehensive income of Rs. 0.00 lakhs for the quarter ended June 30, 2024.

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.

JA

For S R B C & CO LLP Chartered Accountants !CAI Firm registration number: 324982E/E300003 �� � -..{) � � & CO � <' per Poonam Todarwal MU[M] St-.1 !, Partner \ c-> $; Membership No.: 136454 I;. \�,Q� /Q;;-BA) � � UDIN: 24136454BKFOFS8020 \:{_li'Eu 11.c�".. ·- - - :::,, Mumbai, August 06, 2024

Page 2 of 2

Bajaj Electricals Limited

CIN : L31500MH1938PLC009887

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

Tel. 022-61497000 Website : http://www.bajajelectricals.com Email: legal@bajajelectricals.com

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2024

				(Rs. In Lakhs except per share data)	(Rs. In Lakhs except per share data)	(Rs. In Lakhs except per share data)	(Rs. In Lakhs except per share data)
Sr.No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Pariculars Revenue from continuing operations (a) Net sales (b) Other operating income Total Revenue from operations Other income (refer note 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 share of profit/ (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 operations Current Tax Deferred Tax (refer note 1) Adjustment of tax relating to earlier periods Total Tax Expense/ (Income) from continuing operations Net Profit for the period/ year from continuing operations (7 - 8) Profit/ (loss) before tax from discontinued operations (refer note 2) Tax expense / (Credit) from discontinued operations Net profit/ (loss) for the period/ year from discontinued operations (10 - 11) Net Profit for the period / year (9 + 12) 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 reclassified to profit or loss (net of tax) Total other comprehensive (income)/ loss, net of income tax Other comprehensive (income)/ loss, net of income tax from discontinued operations Items that 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 income tax Total comprehensive income for theperiod/year(13 - 14)	Quarer end			ed 4 30-Jun-23			Year ended 31-Mar-24
							(Audited) (refer note 2) 462,235 1,892
	115,491 1,062 116,553 13,311 56,144 9,121 1,008 9,321 3,196 19,045 1,578 118,808 2,246 121,054 11,833 66,172 5,987 1,105 8,284 3,019 20,453 1,756					111,213 1,048 112,261 12,528 47,850 17,221 666 8,996 2,297 16,250 1,151	464,127
							8,647 472,774 51,349 256,675 18,060 2,621 36,493 10,958 72,960 6,348
	112,724 3,829 - 3,829 1,165 (147) - 118,609 2,445 2,445 1,307 (1,793) -					106,959 5,302 - 5,302 1,601 (52) -	455,464 17,310 - 17,310 5,720 (2,009) 11
	1,018 (486)					1,549	3,722
	2,811 - - 2,931 - -					3,753 (57) (17)	13,588 (681) (201)
	~~-~~					(40)	(480)
	2,811 13 - 2,931 - 37					3,713 7 -	13,108 7 55
	13 - - - 2,798 37 - - - 2,894	37 - - -				7 - -	62 - (71) (71) 13,117
						3,706
			2,894
16 Net Profit attributable to (continued operations) -Owners - Non-controlling interests Net Profit attributable to (continued and discontinued operations) -Owners - Non-controlling interests Total comprehensive income attributable to (continued and discontinued operations) -Owners - Non-controlling interests	2,811 - 2,811 - 2,798 - 2.44 2.44 - - 2.44 2.44		2,931 - 2,931 - 2,894 2.55 2.54 - - 2.55 2.54		..	3,753 - 3,713 - 3,706 - 3.26 3.25 (0.03) (0.03) 3.23 3.22	13,588 - 13,108 - 13,117 - 2,304 141,006 145,501 11.81 11.79 (0.42) (0.42) 11.39 11.37
17 18 19 20 Paid-up equity share capital (Face value of Rs. 2/-) Reserve excluding revaluation reserves Networth Earnings per share (not annualised) (Face value of Rs. 2/-) (a) Basic for continuing operations (b) Diluted tor continuing operations (c) Basic for discontinued operations (d) Diluted for discontinued operations (e) Basic for continuing and discontinued operations (f) Diluted for continuina and discontinued ooerations

J A

Notes to the consolidated 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 Parent 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. This combination has no impact on the consolidated financial results.

• Additionally, subsequent to the merger, the Parent Company deems 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 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 consolidated financial results for the period 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. 56,749 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.

	Pariculars	Amount
Total assets transferred		100,086
Total liabilities transferred		43,337
Net impact in retained earnings		56,749

• During the quarter and year ended March 31, 2024, the Parent Company had received an income tax order of Rs. 6,571 lakhs and Rs. 12,577 lakhs, including interest on income tax refunds of Rs. 428 lakhs and Rs. 4,056 lakhs, respectively, which has been recorded as other income in the above consolidated financial results. The same has been represented as an unallocable income in segment reporting.

• 3)

• The consolidated figures for the March quarter are the balancing figure between the audited figures in respect of full financial year upto 31st March, 2024 and the unaudited year-to-date figures upto 31st December, 2023 being the date of the end of the third quarter of the financial year which were subjected to limited review.

• The above consolidated results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on August 6, 2024.

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

SIGNED FOR IDENTIFlCATIOlJ! BY f ,• SR BC & CO LLP MUMBAI I

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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: legal@bajajelectricals.com

CONSOLIDATED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER ENDED 30th JUNE 2024

			[Rs. In Lakhs)	[Rs. In Lakhs)	[Rs. In Lakhs)	[Rs. In Lakhs)
Sr. No. A) 1 2 B) Particulars CONTINUING OPERATIONS Segment Revenues A) Consumer Products B) Lighting Solutions Revenue from Operations Segment Profit before Tax and Finance Cost A) Consumer Products B) Lighting Solutions Less: A) Finance Cost B) Other un-allocable expenditure net of unallocable income (refer note 3) Profit before share of profitI(loss) of an associate and tax Share of profit/ (loss) of an associate Profit before tax from continuing operations DISCONTINUED OPERATIONS {EPC {refer note 2)* Revenue from discontinued operations Segment Profit/ (Loss) before Tax and Finance Cost Profit_I_(loss)before tax from discontinued operations			Quarter ended 30-Jun-24 31-Mar-24 30-Jun-23			Year ended 31-Mar-24
			(Unaudited)	(Audited) (Unaudited) (refer note 4) (refer note 2)		(Audited) (refer note 2)
			90,516 24,975	91,708 27,100	87,260 23,953	360,390 103,737
			115,491 2,308 2,612 4,920 1,578 (487) 3,829 -	118,808 1,635 2,314 3,949 1,756 (252) 2,445 -	111,213 4,065 1,933 5,998 1,151 (455) 5,302 -	464,127 11,422 7,961 19,383 6,348 (4,275) 17,310 -
			3,829 2,445 - - - - - -		5,302 20,501 155 (57)	17,310 34,038 (312) (681)
C) D)	Segment Assets A) Consumer Products B) Lighting Solutions C) Assets as classified as Discontinued Operations (EPC) D) Unallocable / Corporate Assets Total Segment Liabilities A) Consumer Products B) Lighting Solutions C) Liabilities directly associated with Discontinued Operations (EPC) D) Unallocable/ Corporate Liabilities Total		229,327 246,787 50,574 51,416 - - 97,632 85,113		230,238 50,354 101,872 89,189	246,787 51,416 - 85,113
			377,533 168,971 45,861 - 15,374 230,206	383,316 471,653 175,389 154,800 50,680 43,209 - 43,967 13,125 34,868 239,194 276,844		383,316 175,389 50,680 - 13,125 239,194
* 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 (B2B) and Consumer Lighting (B2C). Additionally 'EPC' includes Power Transmission and Power Distribution presented as discontinued operations since demerged as refered in note 2 of the consolidated fnancial results.
Place : Mumbai :A Date : Auaust 6 2024 :NED FOR IO�IFICATl r SR BC & CO LLP MIJMBAI 1 ,,, ,.,, __ ..---,-�•- ·� ...----...~~,~~.. �fc:1,, .. ,-: G ·,-, ... �- ·- \ �< ',. ·., f(� 4.7•'i \; ;\�a N. R;)i1 \, ()/f' ��*Jl ��;�- By Order of the Board of Directors for Bajaj Electricals Limited . ~~(~~ Shekhar Bajaj Chairman

• 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 (B2B) and Consumer Lighting (B2C). Additionally 'EPC' includes Power Transmission and Power Distribution presented as discontinued operations since demerged as refered in note 2 of the consolidated financial results.

·� . . . ----..,;[.] . ~~,~~ ..... :: fBy Order of the Board of Directors[o] r Bajaj Electricals Limited ·- :[NED FOR IO][�][IFICATl] �< �fc:1,, .. ,-::' , . ·.\ , SR BC & CO LLP r f(� ;** \,.. ai 45.,.7 N. Re!;) • 'i \; ()/f' _iii1 ~~(~~ !..... . _�_ Place : Mumbai Date : Auaust 6 2024 :IA MIJMBAI ,,, __ ,._,, _____ .. ---,-�•--- 1 _�� ��;2�- [Jl ]* Shekhar Bajaj Chairman G·,-, ... �-

PRESS RELEASE

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August 6, 2024

Bajaj Electricals Posts Q1 Results

Revenues up by 3.8%

Lighting Solutions EBIT Margins at 10.5%

Strong Cashflow from Operations of Rs 155 crores

Bajaj Electricals Ltd has declared its results for the quarter ended June 30, 2024.

For the first quarter of 2024-25, the Company has achieved revenue from operations of Rs. 1,155 Cr. as against Rs. 1,112 Cr., a growth of 3.8% over the first quarter of the previous year. For the quarter, the company has made profit before tax and profit after tax of Rs. 38 Cr. and Rs. 28 Cr. respectively, as against profit before tax and profit after tax of Rs. 53 Cr. and Rs. 38 Cr. respectively, in the corresponding quarter of the previous year.

For the quarter, Consumer Products (CP) segment of the Company has earned total revenue of Rs. 905 Cr. as against Rs. 873 Cr., a growth of 3.7% over the corresponding quarter of the previous year. CP recorded an EBIT of Rs. 23 Cr. as against Rs. 41 Cr. in the corresponding quarter of the previous year.

For the quarter, Lighting Solutions (LS) segment of the Company has earned total revenue of Rs. 250 Cr. as against Rs. 240 Cr., a growth of 4.3% over the corresponding quarter of the previous year. LS recorded an EBIT of Rs. 26 Cr. as against Rs. 20 Cr. in the corresponding quarter of the previous year.

For the quarter ended June 30, 2024, the Company generated positive Cashflow from Operations of Rs. 155 Cr. Cash equivalents and surplus investments are at Rs. 442 crores.

Mr. Shekhar Bajaj, Chairman of Bajaj Electricals Limited, said “Revenues for the Company have grown at 3.8% with consumer demand having bottomed-out and green shoots visible in in rural demand. Lighting Solutions EBIT margins are at 10.5%, due to improvement in overall gross margins. We continue to maintain strong positive cash flows and focus on our long-term strategic objectives with a continued push on new products and brand strengthening. I am confident that with a pickup in demand during the second half of this fiscal, we shall see a strong upward performance.”

The order book as on July 1, 2024, stands at Rs. 210 Cr. for Professional Lighting Projects.

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AnnexureA

Pursuant to Rggulaj:iQn 30 Qf SEBI Listing Regul� (read with SEBI citc.u.lar SEBI/HO/CFD/CFD-PoD�/P/CIR/2023/123 dated July 13, 2023):

Reason for change viz. In view of the resignation of Mr. Anuj Poddar, Managing appointment, resignation, Director & Chief Executive Officer, w.e.f. September 30, 2024, removal, death pr otherwise; the Board of Directors at its meeting held today i.e., on Date of Appointment & Term of Tuesday, August 6, 2024, designated Mr. Shekhar Bajaj, appointment Executive Chairman as the Key Managerial Personnel of the Company, effective from October 1, 2024. Brief Profile (in case of N.A. appointment) Disclosure of relationships Mr. Shekhar Bajaj is related to Mr. Madhur Bajaj (Brother) and between directors (in case of Ms. Pooja Bajaj (Daughter in law). appointment of a director)

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

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Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400001. Tel: +91 22 6110 7800 I Email: legal@bajajelectricals.com I CIN: L31500MH1938PLC009887