Bajaj Electricals Ltd. — Investor Presentation 2025

May 12, 2025

May 12, 2025

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To,

BSE Limited

: Code No. 500031

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001.

National Stock Exchange of India Limited

: BAJAJELEC – Series: EQ

Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.

Dear Sir/Madam,

Sub.: Presentation on the Financial Results of Bajaj Electricals Limited (“the Company”) for the fourth quarter and financial year ended March 31, 2025

The presentation on the Financial Results of the Company for the fourth quarter and financial year ended March 31, 2025, is enclosed herewith.

We request you to take the above on record.

Thanking you,

Yours faithfully,

For Bajaj Electricals Limited Prashant Digitally signed by Prashant Anant Dalvi Anant Dalvi Date: 2025.05.12 14:49:16 +05'30'

Prashant Dalvi Chief Compliance Officer & Company Secretary (ICSI Membership No.: A51129)

Encl.: As above.

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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001 Tel: +91 22 6110 7800 | Email: legal@bajajelectricals.com | CIN: L31500MH1938PLC009887

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Investor Presentation Q4 FY’25

May 12, 2025

Disclaimer

The material that follows is a Presentation of general background information about the activities of Bajaj Electricals Limited ( “Company” ) or its subsidiary or joint venture or associate (together with the Company, the “Group” ) as at the date of the Presentation or as otherwise indicated. It is information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. This Presentation has been prepared by and is the sole responsibility of the Company. By accessing this Presentation, you are agreeing to be bound by the trading restrictions. It is for general information purposes only and should not be considered as a recommendation that any investor should subscribe to or purchase the Company’s equity shares or other securities.

This Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will”, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, aims, objectives, goals, future events or intentions. These forwardlooking statements include all matters that are not historical facts. They appear in a number of places throughout this Presentation and include statements regarding the Company’s intentions, beliefs or current expectations concerning, amongst other things, its results or operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The factors which may affect the results contemplated by the forward looking statements could include, among others, future changes or developments in (i) the Group’s business, (ii) the Group’s regulatory and competitive environment, and (iii) political, economic, legal and social conditions in India or the jurisdictions in which our Group operates.

Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy of the Company, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved. There are some important factors that could cause material differences to Company’s actual results. These include (i) our ability to successfully implement our strategy (ii) our growth and expansion plans (iii) changes in regulatory norms applicable to the Company (iv) technological changes (v) investment income (vi) cash flow projections etc. The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this Presentation, unless otherwise specified is only current as of the date of this Presentation. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this Presentation, the information contained herein is based on management information and estimates. This document is just a Presentation and is not intended to be and does not constitute a “prospectus” or “offer document” or a “private placement offer letter” or an “offering memorandum” or an “offer” or a solicitation of any offer to purchase or sell any securities.

Table of Contents

1 2 3

Q4 FY’25 – Performance Overview Financial Highlights Business Highlights

Table of Contents

1

2

Q4 FY’25 – Performance Overview

Financial Highlights

Business Highlights

3

Q4 FY’25 – Performance Overview

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Core FMEG Performance (6.5% growth on YoY basis driven by Consumer Products)

• Consumer Products (CP) Segment : 8.4% growth on a YoY basis on account of MR and Appliances

• Lighting Solutions (LS) Segment : 0.2% growth on a YoY basis due to B2C Lighting offset by drop in B2B Lighting

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Channel Highlights*

• GT registered a growth of c.6% YoY basis on account of continuous trade revival

• Growth across key alternate channels – Exports (c.49%), MFR (c.25%), and GoI (c.13%)

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Cash Position

• Healthy cash flow from operations of c. INR 87 Cr

• Strong Balance Sheet with C&CE and surplus investments to the tune of c. INR 509 Cr

*Gross sales data

Table of Contents

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2

3

Q4 FY’25 – Performance Overview

Financial Highlights Business Highlights

Q4 FY’25 – Profit & Loss Statement

(INR Cr)

	Particulars	Q4 FY’25 Q4 FY’24 YoY (%) Q3 FY’25	Commentary Revenue:Growth in CP segment offset by flattish revenue growth in the LS Segment Gross Margin (GM):GM% expanded by 280 bps, mainly due to price hikes and VAVE initiatives Staff Cost:True-up of actuarial and performance incentive provisions to the tune of c. INR 7 Cr Depreciation:Increased due to capitalization of employee costs and new moulds to the tune of c. INR 9 Cr Finance Cost- Includes interest on vendor financing to the tune of c.INR 10 Cr and interest on lease liability of c. INR 5 Cr Exceptional Items: • Gain of c. INR 30 Cr owing to the sale of lands • Offset to the tune of c. INR 9 Cr due to VRS for Nashik Factory
	Revenue from Operations 1,265 1,188 6.5% 1,290 Less : COGS 872 851 2.5% 888
	Gross Margin 394 337 16.7% 402
	Staff Cost 95 83 14.6% 99 Other Expenses 206 205 0.5% 215 Depreciation and Amortisation 41 30 36.6% 36 Add : Other Income 16 22 (28.0%) 13
	EBIT for continuing operations 68 42 61.7% 64
	As % of Revenue 5.4% 3.5% 5.0%
	Less : Finance Cost 18 18 2.9% 19
	Profit Before Exceptional Items and Taxes 50 24 104.0% 45
	Less: Exceptional Items (21) - -
	PBT for continuing operations 71 24 191.4% 45
	Less: Taxes 12 (5) 12
	PAT for continuing operations 59 29 101.5% 33
	As % of Revenue 4.7% 2.5% 2.6%

Q4 FY’25 – Segment Details

	Segment Revenue						Commentary	Commentary
	Particulars	Q4 FY’25 (₹ Cr)	Q4 FY’24 (₹ Cr)	YoY (%)	Q3 FY’25 (₹ Cr)		Consumer Products Segment: • Double-digit growth in Domestic appliances and MR
	Consumer Products	994	917	8.4%	1,038		•	Strong double–digit growth in Coolers for Q4 FY’25
	Lighting Solutions	271	271	0.2%	251		•	Low single-digit growth in Fans
	Total Revenue	1,265	1,188	6.5%	1,290		•	EBIT margin expanded due to volume growth and
								gross margin expansion

Segment Results

	Particulars		Q4 FY’25 EBIT EBIT	Q4 FY’25 EBIT EBIT	Q4 FY’24 EBIT EBIT	Q4 FY’24 EBIT EBIT	Q3 FY’25 EBIT EBIT	Q3 FY’25 EBIT EBIT		Lighting Solutions Segment: • Single–digit growth in Consumer Lighting, offset by de-	Lighting Solutions Segment: • Single–digit growth in Consumer Lighting, offset by de-
			(₹ Cr)	(%)	(₹ Cr)	(%)	(₹ Cr)	(%)			growth in Professional Lighting
	Consumer Products		39	3.9%	16	1.8%	52	5.0%		•	For Consumer Lighting, double-digit value growth in GT
	Lighting Solutions		21	7.8%	23	8.5%	5	2.1%			for Q4 FY’25
										•	EBIT margin contracted by 70 bps due to operating de-
	**Total ***		68	5.4%	42	3.5%	64	5.0%			leverage

*Includes other unallocable income & expense

Cash Flow Summary: FY’25

Particulars INR Cr		Commentary
Profit Before Tax 170 Adjustments for : • Non-Cash and Exceptional items 175 • (Increase) / Decrease in Working Capital 5 Taxes Paid (3)		Cash Flow from Operating Activities (CFO) : • Positive CFO of INR 347 Cr contributed by operating profits and EBITDA Cash Flow from Investing Activities: • Capex:Investments in moulds offset by proceeds from the sale of lands • Surplus Funds:Investments in fixed deposits and mutual funds Cash Flow from Financing Activities: • Dividend and interest repaid to the tune of INR 103 Cr • Lease liability to the tune of INR 49 Cr
Net Cash from Operating Activities (A) 347
Capital Expenditure (net of sale proceeds) (5) Surplus funds invested (205) Interest received 15
Net Cash (used in) /from investing activities (B) (195)
Proceeds from issues of shares 6 Payment of Lease Liabilities (49) Interest Paid (vendor financing and lease liabilities) (68) Dividend Paid (35)
Net Cash (used in) /from financing activities (C) (146)
Net increase / (decrease) in Cash & Bank balances 6 Opening Balance of Cash/Bank Balances 114
Closing Balance of Cash/Bank Balances 120

FY’25 – Profit & Loss Statement

	Particulars	FY’25 FY’24 YoY (%)	Particulars FY’25 (₹ Cr) FY’24 (₹ Cr) YoY (%) Consumer Products 3,806 3,604 5.6% Lighting Solutions 1,023 1,037 (1.4%) Total Revenue 4,828 4,641 4.0% Particulars FY’25 FY’24 EBIT (₹ Cr) EBIT (%) EBIT (₹ Cr) EBIT (%) Consumer Products 123 3.2% 114 3.2% Lighting Solutions 68 6.6% 80 7.7% Total 218 4.5% 237 5.1% Segment Revenue Segment Results _Includes other un-allocable income & expense_	Segment Revenue
	Revenue from Operations 4,828 4,641 4.0% Less : COGS 3,334 3,287 1.4%
				Particulars	FY’25 (₹ Cr)		FY’24 (₹ Cr)		YoY (%)
	Gross Margin 1,494 1,354 10.3%
				Consumer Products	3,806		3,604		5.6%
	Staff Cost 380 365 4.1% Other Expenses 807 730 10.6% Depreciation and Amortisation 144 110 31.5% Add : Other Income 55 86 (36.7%)
				Lighting Solutions	1,023		1,037		(1.4%)
				Total Revenue	4,828 4,641 4.0%
				Segment Results
	EBIT for continuing operations 218 237 (7.8%)
				Particulars	FY’25			FY’24
	As % of Revenue 4.5% 5.1%
	Less : Finance Cost 70 63 10.0%
					EBIT (₹ Cr)	EBIT (%)		EBIT (₹ Cr)		EBIT (%)
	Profit Before Exceptional Items and Taxes 148 173 (14.3%)
				Consumer Products	123	3.2%		114		3.2%
	Less: Exceptional Items (21) -
				Lighting Solutions	68	6.6%		80		7.7%
	PBT for continuing operations 170 173 (2.0%)
	Less: Taxes 36 37			Total*	218	4.5%		237		5.1%
	PAT for continuing operations 133 136 (1.8%)
	As % of Revenue 2.8% 2.9%

Table of Contents

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Q4 FY’25 – Performance Overview Financial Highlights

Business Highlights

3

New Product Launches: Consumer Products (BAJAJ)

72 Launches*

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Bajaj Shield Séries Glanza 42 Digi Personal Cooler

Airlark

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Voittaa BLDC

• Digital Control Panel with remote control

• DuraTuff Pro Motor with 3 years warranty

• DuraMarine Pro Pump with 3 years warranty

• Child Lock feature

• Anti Bacterial Honeycomb Cooling media

• 42L Tank

• 5 years product warranty – DuraCoat Copper/ FierroShield Bearing/ CorroSafe Lacquer

• Seamless blade design

• Telescopic seamless canopy design

• Stationary bottom

• Speed – 330 RPM, High Air Delivery – 225 CMM, Power – 55W (BEE 1-Star)

• Aesthetically designed BLDC fan with soothing LED indication

• Telescopic seamless canopy – enhanced aesthetics

• Remote controlled operation – Point any direction RF remote

• 100% Copper Motor – Durable and consistent performance

• Speed – 340 RPM, Air Delivery – 220 CMM, Power – 35W (Consumes only 6.5W at Speed 1)

New Product Launches: Morphy Richards

4 Launches*

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Stylist care hot air brush

• 3 in 1 usage : Hair dryer,hair straightener and Volumizer

• 360 Air flow Vents :Ensures even heat distribution minimizing heat damage

• wide oval and paddle shaped design

• 2 heat/speed settings with cool mode

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Kingsman Digital 15 - in -1

• 15-IN-1 Body Groomer for head-totoe grooming

• Quick Charge in 1.5 hours

• Travel Lock Feature

• Sleek digital Display

• Detachable Stainless-Steel blades

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Magnum Pro 750W

• Powerful 750W 100% Copper Motor

• 20000 RPM Motor to Grind and Blend Toughest Ingredients Effortlessly

• Lid Lock on Wet Jar

• Transparent Dome Lid on Dry and Liquidizing Jar

• High-Quality Couplers and Gaskets

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Black Beauty 1.5 L Kettle

• 304 Grade Stainless steel inner wall

• Auto shut off and dry boil protection

• Wide mouth for easy cleaning

• Spout for easy pouring

• 360 Degree cordless power base

• Cool touch

New Product Launches: Consumer Lighting

32 Launches*

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IVORA LED COMPACT DOWNLIGHT

• Now in 7W, 9W, and 12W

• LED Backlit Technology

• Available in 7 variants for 7W & 9W wattage: CDL / WDL/NDL / Red/ Green/ Blue/ Pink

• Available in 3 variants for 12W wattage: CDL / WDL/NDL

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CELESTA 36W LED PANEL 2X2 TILE SERIES

• 100lm/W Lumen Efficacy

• 4kV Voltage Surge Protection

• Wide Operating Voltage Range

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VELARIS WALL LIGHT SERIES (OVAL)

VELARIS WALL LIGHT SERIES (SQUARE)

• IP 54 Protection

• IP 54 Protection

• Voltage Surge Protection - 4kv

• Voltage Surge Protection - 4kv

• Wide Operating Voltage Range (100V300V)

• Wide Operating Voltage Range (100V300V)

• •

• Available in 2 Way, 4 Way (WDL & RB), 6 Available in 2 Way, and 4 Way (WDL & Way (WDL & RGB), 8 Way (WDL & RGBW) RGBW)

New Product Launches: Professional Lighting

129 Launches*

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Vista Street Light

Gleam XT Flood Light

PrazeFlood Light

• Best-in-class efficacy of up to 130 LPW

• Best-in-class Efficacy of Up To 120W

• Best-in-class Efficacy of Up To 140W

• Unique form factor with water locking design

• Robust construction: Ensuring high reliability and durability

• Durable Housing: Constructed with pressure die-cast aluminum, designed to act as a heat sink for effective heat dissipation.

• Outstanding uniformity and optimal lux levels for large spaces

• Smart Integration: Operates remotely and enhance operational efficiency through the Bajaj CitiSol platform.

Professional Lighting: Projects Undertaken

CSI Church, Calicut

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Pattala Palli, Calicut

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Segment: Architectural Lighting

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Executed exclusive tie-up with SEAK Energetics for tunnel lighting in India on 16[th] April 2025

Brand Activities

Bajaj Fans & Air Coolers Campaign – “Day 1 waali feelings” narrative

IPL Campaign on JioHostar Throughout Summer Season, Social Engagement via Daily Contests

On-Ground & BTL Visibility

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Premium and Regular Catalogue

Display Wall

Translite

Print Campaign

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Shareholding Pattern as on 31[st ] March, 2025

Shareholding Pattern as on 31[st] March, 2025

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13.7%
7.8%
15.8%
62.7%
Promoter and Promoter Group Domestic Institutional Investors
Foreign Institutional Investors Others/Retail Investors
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Proposed Dividend

	Proposed dividend per share (INR)	3
	Proposed dividend (%)	150%
	Proposed dividend Payout Ratio (%)*	25.9%

*on standalone PAT

Bajaj Electricals Limited

CIN : L31500MH1938PLC009887

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Regd. Office : 45/47, Veer Nariman Road, Fort, Mumbai 400023

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Website : www.bajajelectricals.com

IR related queries (Bajaj Electricals Limited): Suketu Shah (suketu.shah@bajajelectricals.com) Ankit Bahal (ankit.bahal@bajajelectricals.com)

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