Bajaj Electricals Ltd. — Interim / Quarterly Report 2022

Aug 11, 2021

August 11, 2021

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To, BSE Limited

: Code No. 500031

Department of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001

National Stock Exchange of India Limited

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

: BAJELEC - Series: EQ BAJ21-Series B NCDs INE193E08020 BAJ22 -Series C NCDs INE193E08012

Dear Sir/Madam,

Sub.: Unaudited financial results of Bajaj Electricals Limited (the “Company”) for the first quarter ended June 30, 2021

Further to our letter dated August 3, 2021 and pursuant to the provisions of Regulations 30 and 33 (read with Part A of Schedule III) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“ SEBI Listing Regulations ”), we enclose herewith the following:

• a. Statement of Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended June 30, 2021, along with Limited Review Reports by the Auditors' thereon, which were approved and taken on record by the Board of Directors of the Company in its meeting held today i.e. on August 11, 2021; and

• b. Press Release.

The said meeting commenced at 1:00 p.m. and concluded at 1.50 p.m.

We request you to take the above on record; put up the same on your Notice Board for the information of members and general public; and treat the same as compliance under the applicable provisions of the SEBI Listing Regulations.

Thanking you,

Yours Faithfully, For Bajaj Electricals Limited AJAY SURESH Digitally signed by AJAY SURESH NAGLE NAGLE Date: 2021.08.11 13:53:48 +05'30' Ajay Nagle EVP and Head- Legal & Company Secretary

Encl.: As above.

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

Corporate Identity Number (CIN): L31500MH1938PLC009887

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

Charted Accountants

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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, 2021 (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. This Statement, which is the responsibility of the Company’s Management and approved by the Company’s Board of Directors, has been prepared 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. 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

VIKRAM Digitally signed by VIKRAM MEHTA MEHTA Date: 2021.08.11 13:29:51 +05'30'

per Vikram Mehta Partner Membership number.: 105938 UDIN: 21105938AAAAFR7405 Mumbai, August 11, 2021

Page 1 of 1

SRBC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block ‘B’, 3[rd] Floor, Kolkata – 700 016

Bajaj Electricals Ltd.

CIN : 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 2021

		(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.	Particulars	Quarter ended			Year Ended
		30-Jun-21	30-Jun-20	31-Mar-21	31-Mar-21
		(Unaudited)	(Unaudited)	(Audited) (refer note 4)	(Audited)
1 2 3 4 5 6 7 8 9 10 11	Revenue from operations (a) Gross sales (b) Other operating income Total Revenue from operations Other income Total Income (1 + 2) Expenses (a) Cost of raw materials consumed (refer note 6) (b) Purchase of traded goods (refer note 6) (c) Changes in inventories of finished goods, work-in-progress and traded goods (d) Erection & Subcontracting Expenses (e) Employee benefits expense (refer note 6) (f) Depreciation and amortisation expense (g) Other expenses (refer note 6) (h) Finance Costs Total Expenses Profit / (loss) before exceptional items and tax (3 - 4) Exceptional Items (refer note 2) Profit / (loss) before tax (5 - 6) Tax Expense Current Tax Deferred Tax Total Tax Expense / (Income) Net Profit / (Loss) for the period / year (7 - 8) Other comprehensive (income) / loss, net of income tax Items that will not be reclassified to profit or loss (net of tax) (refer note 2) Total other comprehensive (income) / loss, net of income tax Total comprehensive income / (loss) for the period / year (9 - 10)	84,228 1,051	60,352 422	124,165 1,283	453,564 3,742
		85,279	60,774	125,448	457,306
		1,327	779	3,179	7,269
		86,606	61,553	128,627	464,575
		7,791 39,220 6,317 3,757 10,195 1,444 17,285 1,466	1,732 26,930 11,173 3,889 9,829 1,724 9,299 2,687	13,617 89,857 (18,003) 3,676 10,061 1,629 19,075 1,062	29,379 297,245 (26,970) 24,369 38,828 6,926 64,301 7,555
		87,475	67,263	120,974	441,633
		(869)	(5,710)	7,653	22,942
		-	(1,471)	295	(1,176)
		(869)	(4,239)	7,358	24,118
		(226) 0	(1,758) 236	282 1,472	4,761 993
		(226)	(1,522)	**1,754 **	**5,754 **
		(643)	(2,717)	**5,604 **	**18,364 **
		(39)	(1,327)	900	(860)
		(39)	(1,327)	900	(860)
		(604)	(1,390)	**4,704 **	19,224
12 13 14 15	Paid-up equity share capital (Face value of Rs. 2/-) Reserve excluding revaluation reserves Networth Earnings per share after exceptional items (not annualised) (Face value of Rs. 2/-) (a) Basic (b) Diluted Earnings per share before exceptional items (not annualised) (Face value of Rs. 2/-) (a) Basic (b)Diluted	2,293 (0.56) (0.56) (0.56) (0.56)	2,275 (2.39) (2.39) (3.68) (3.68)	2,291 4.90 4.88 5.15 5.14	2,291 157,361 159,477 16.08 16.02 15.05 15.00

Notes to the standalone financial results:

1) Execution of Control Transfer Agreement:

The Company, at its meeting held on Friday, April 30, 2021 (“Effective Date”),executed the Control Transfer Agreement (“CTA”) with (i) Shri Ravindra Bharati and Shri Arvind Bharati (collectively, the “Outgoing Promoters”), who, along with the Company, were promoters / joint promoters of Starlite Lighting Limited (“SLL”), (ii) some other shareholders of SLL (related to the outgoing promoters or belonging to their business group), and (iii) SLL

• to terminate the Shareholders Agreement dated February 22, 2007 by and between the outgoing promoters, company and SLL; and

• to record the agreed terms and conditions for the relinquishment and transfer of the joint control and management rights of SLL by the outgoing promoters in favour of the Company such that the Company shall have the sole control and management rights of SLL from the start of the business hours on the Effective Date.

In consideration of the said relinquishment and transfer of joint control and management rights of SLL by outgoing promoters in favour of the Company, the Company will pay an aggregate control premium of Rs.1,480 lakhs, plus GST as applicable, to the outgoing promoters, subject to the terms and conditions of the said CTA.

Subsequently, SLL is consolidated as a subsidiary from April 1, 2021.

Execution of Share Subscription Agreement:

With the approval granted by the Board of the Company at its Meeting, the Share Subscription Agreement (“SSA”) has been executed on April 30, 2021 (after the execution of CTA) by and amongst: (i) the Company, (ii) SLL, (iii) Shri Ravindra Bharati, and (iv) Shri Arvind Bharati, for subscribing to the 4,50,00,000 Equity Shares of SLL (“Subscription Shares”) by the Company and/or by its identified purchaser(s) at a price of Rs.10/- per Equity Share, which are to be issued on a private placement / preferential allotment basis, subject to the approval of the board of directors and shareholders of SLL.

• 2) During the quarter ended June 30, 2020, the Hon’ble National Company Law Tribunal, Mumbai Bench vide its order dated May 21, 2020 had approved the scheme of arrangement for demerger of the manufacturing undertaking of the Hind Lamps Limited (associate of the Company) into the Company, which had been filed with the Registrar of Companies on June 30, 2020. The Company had accounted for the demerger as a business combination under Ind AS 103 as per the Scheme and accounted for the fair value of assets and liabilities acquired on a provisional basis on June 30, 2020. Consequently, the Company had derecognised its existing 19% of the proportionate investment in the manufacturing undertaking of Hind Lamps Limited, resulting in a gain of Rs 1,176.12 lakhs which has been disclosed as an exceptional items in the above standalone financial results for the year ended March 31, 2021. As per the Ind AS 103 and the Scheme, the difference of Rs 165.18 lakhs, between the fair value of the assets acquired, liabilities assumed and the consideration has been credited to other comprehensive income for the year ended March 31, 2021 and accumulated in equity as capital reserve as on March 31, 2021 in the above standalone financial results.

As on June 30, 2020, the Company had recognised Rs. 1,471.25 lakhs as gain in exceptional items and Rs. 1,423.34 lakhs were credited in other comprehensive income. Subsequently, for the quarter ended March 31, 2021, the Company has recognised Rs. 295.13 lakhs debit and Rs. 1,258.16 lakhs in exceptional items and other comprehensive income, respectively.

• 3) The Company has made an assessment of the impact of continuing COVID-19 pandemic on it current and future operations, liquidity position and cashflow giving due consideration to internal and external factors. The Company is continously monitoring the situation and does not foresee any significant impact on its operations and the financial position as at June 30, 2021.

• 4) The figures of the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year, which were subjected to a limited review.

• 5) The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on August 11, 2021.

• 6) Previous period / year figures have been regrouped / reclassified where necessary.

• 7) 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).

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

STANDALONE SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER ENDED 30th JUNE 2021

		(Rs. In Lakhs)	(Rs. In Lakhs)	(Rs. In Lakhs)	(Rs. In Lakhs)
Sr. No.	Particulars	Quarter ended
		30-Jun-21	30-Jun-20	31-Mar-21	31-Mar-21
		(Unaudited)	(Unaudited)	(Audited) (refer note 4)	(Audited)
1 **2 **	SEGMENT REVENUE A) Consumer Products B) EPC C) Others Revenue from Operations SEGMENT PROFIT / (LOSS) BEFORE TAX & FINANCE COST A) Consumer Products B) EPC C) Others Less: A) Finance Cost B) Other un-allocable expenditure net of unallocable income Profit / (loss) before exceptional items and tax Exceptional items (refer note 2) Profit / (loss) before tax	61,319 23,952 8	39,437 21,331 6	97,119 28,317 12	330,354 126,893 59
		85,279	60,774	125,448	457,306
		1,547 (1,334) (13)	1,054 (4,369) (12)	8,508 (793) (8)	32,401 (5,413) (28)
		200 1,466 (397)	(3,327) 2,687 (304)	7,707 1,062 (1,008)	26,960 7,555 (3,537)
		(869)	(5,710)	7,653	22,942
		-	(1,471)	295	(1,176)
		(869)	(4,239)	7,358	24,118
3 **4 **	Segment Assets A) Consumer Products B) EPC C) Others D) Unallocable assets Total Segment Liabilities A) Consumer Products B) EPC C) Others D) Unallocable liabilities including borrowings Total	145,509 176,071 48 86,392	121,520 232,578 127 68,426	158,543 193,386 133 72,947	158,543 193,386 133 72,947
		408,020	422,651	425,009	425,009
		106,181 71,361 - 70,093	99,941 95,168 - 89,024	122,654 82,708 - 59,174	122,654 82,708 - 59,174
		247,635	284,133	264,536	264,536
Note : The Company has, pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products, EPC and Others. “Consumer Products” includes Appliances, Fans, Consumer Lighting Products and Morphy Richards. “EPC” includes Transmission Line Towers, Power Distribution and Illumination Projects. “Others” includes Wind Energy.
By Order of the Board of Directors for Bajaj Electricals Limited Place : Mumbai Shekhar Bajaj Date : August 11, 2021 Chairman and ManagingDirector SHEKHA R BAJAJ Digitally signed by SHEKHAR BAJAJ Date: 2021.08.11 13:16:16 +05'30'

Note :

The Company has, pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products, EPC and Others. “Consumer Products” includes Appliances, Fans, Consumer Lighting Products and Morphy Richards. “EPC” includes Transmission Line Towers, Power Distribution and Illumination Projects. “Others” includes Wind Energy.

By Order of the Board of Directors for Bajaj Electricals Limited

Digitally signed SHEKHA by SHEKHAR BAJAJ R BAJAJ Date: 2021.08.11 13:16:16 +05'30'

Place : Mumbai Date : August 11, 2021

Shekhar Bajaj Chairman and Managing Director

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

Charted Accountants

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Independent Auditor’s Review Report on the Quarterly Unaudited 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 (the “ olding Company”) and its subsidiaries (the olding Company and its subsidiaries together referred to as “the roup”) and its associate for the quarter ended June 30, 2021 (the “Statement”) attached herewith, being submitted by the olding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

2. This Statement, which is the responsibility of the olding Company’s Management and approved by the olding Company’s Board of Directors, has been prepared 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. 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/CMD1/44/2019 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:

ame of entity	Relationship
BajajElectricalsLimited	Parent Company
NirlepAppliancesPrivateLimited	Subsidiary
StarliteLightingLimited	Subsidiary
indLampsLimited	Associate

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration referred to in paragraph below, 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.

Page 1 of 2

SRBC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block ‘B’, 3[rd] Floor, Kolkata – 700 016

Charted Accountants

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Bajaj Electricals Limited Consolidated Limited Review Report

• . The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of:

• 1 subsidiary, whose interim financial results and other financial information reflect total revenues of Rs 1,002.34 lakhs, total net loss after tax of Rs. 422.70 lakhs, total comprehensive loss of Rs. 424.74 lakhs, for the quarter ended June 30, 2021.

• 1 associate, whose interim financial results includes the roup’s share of net profit of Rs. 0.00 lakhs roup’s share of total comprehensive income of Rs. 0.00 lakhs for the quarter ended June 30, 2021.

The unaudited interim financial results and other unaudited financial information of the these subsidiary and 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 these subsidiary and associate, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the roup.

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

For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 VIKRAM Digitally signed by VIKRAM MEHTA MEHTA Date: 2021.08.11 13:30:34 +05'30'

per Vikram Mehta Partner Membership number.: 105938 UDIN: 21105938AAAAFS5345 Mumbai, August 11, 2021

Page 2 of 2

SRBC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block ‘B’, 3[rd] Floor, Kolkata – 700 016

Bajaj Electricals Ltd.

CIN : L31500MH1938PLC009887

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

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

ST NDT LOFAI EF CONANSOAL REDULI D CT R I HE QUARI ER ENFEF 30tJ 2UNE 101(

		nRs. Ok LahJs except per sJare data)	nRs. Ok LahJs except per sJare data)	nRs. Ok LahJs except per sJare data)	nRs. Ok LahJs except per sJare data)
Dr.No.	Particulars	Quarter ekded			Year Ekded
		30-2uk-1(	30-2uk-10	3( -Mar-1(	3( -Mar-1(
		nUkaudited)	nUkaudited)	nAudited) nrefer kote 4)	nAudited)
1 2 3 4 5 6 7 8 9 10 11 12 13	Revenue from operations (a) Gross sales (b) Other operating income I otal Revekue from operatioks Other income I otal Okcome n( + 1) Expekses (a) Cost of raw materials consumed (refer note 6) (b) Purchase of traded goods (refer note 6) (c) Changes in inventories of finished goods, work-in-progress and traded goods (d) Erection & Subcontracting Expenses (e) Employee benefits expense (refer note 6) (f) Depreciation and amortisation expense (g) Other expenses (refer note 6) (h) Finance Costs I otal Expekses Profit / nloss) before exceptiokal items, sJare of profit / nloss) of ak associate akd a joikt vekture akd tax n3 - 4) Exceptional Items (refer note 2) Profit / nloss) before sJare of profit / nloss) of ak associate akd a joikt vekture akd tax n5 - 7) Share of profit / (loss) of an associate and a joint venture Profit / nloss) before tax n6 + 8) Tax Expense Current Tax Deferred Tax I otal I ax Expekse / nOkcome) Net Profit / nLoss) for tJe period / year n9 - ( 0) Other comprehensive (income) / loss, net of income tax Items that will not be reclassified to profit or loss (net of tax) (refer note 2) I otal otJer compreJeksive nikcome) / loss, ket of ikcome tax I otal compreJeksive ikcome / nloss) for tJeperiod n( ( -( 1)	84,504 1,181	60,405 424	124,556 1,291	454,690 3,771
		85,785	70,819	( 15,846	458,47(
		852	705	3,073	6,920
		87,536	7( ,534	( 18,910	475,38(
		10,391 36,960 5,732 3,758 10,625 1,729 18,163 2,320	1,939 26,739 11,152 3,889 9,965 1,861 9,320 2,719	15,892 87,733 (18,179) 3,677 10,252 1,787 19,208 1,077	35,015 291,613 (27,073) 24,371 39,451 7,516 64,767 7,643
		89,768	76,584	( 1( ,446	443,303
		n3,( 4( )	n7,050)	6,463	11,068
		-	(2,844)	295	(2,549)
		n3,( 4( )	n3,107)	6,( 68	14,716
		-	-	-	-
		n3,( 4( )	n3,107)	6,( 68	14,716
		(244) (400)	(1,758) 212	282 1,470	4,761 970
		n744)	n( ,547)	( ,651	5,63(
		n1,496)	n( ,770)	5,417	( 8,897
		(37)	(1,327)	896	(866)
		n36)	n( ,316)	897	n877)
		n1,470)	n333)	4,530	( 9,671
14	Net Profit /(Loss) attributable to: - Owners - Non-controlling interests Total comprehensive income / (loss) attributable to: - Owners - Non-controllinginterests	(2,187) (310) (2,150) (310)	(1,593) (67) (266) (67)	5,460 (34) 4,563 (33)	19,055 (159) 19,920 (158)
15 16 17 18	Paid-up equity share capital (Face value of Rs. 2/-) Reserve excluding revaluation reserves Networth Earnings per share after exceptional items (not annualised) (Face value of Rs. 2/-) (a) Basic (b) Diluted Earnings per share before exceptional items (not annualised) (Face value of Rs. 2/-) (a) Basic (b)Diluted	2,293 (2.18) (2.18) (2.18) (2.18)	2,275 (1.46) (1.46) (3.96) (3.96)	2,291 4.74 4.72 5.00 4.98	2,291 154,711 156,826 16.54 16.49 14.31 14.26

Notes to tJe coksolidated fikakcial results:

1) Executiok of Soktrol I raksfer Agreemekt:

The Parent Company, at its meeting held on Friday, April 30, 2021 (“Effective Date”),executed the Control Transfer Agreement (“CTA”) with (i) Shri Ravindra Bharati and Shri Arvind Bharati (collectively, the “Outgoing Promoters”), who, along with the Parent Company, were promoters / joint promoters of Starlite Lighting Limited (“SLL”), (ii) some other shareholders of SLL (related to the outgoing promoters or belonging to their business group), and (iii) SLL

• to terminate the Shareholders Agreement dated February 22, 2007 by and between the outgoing promoters, Parent Company and SLL; and

• to record the agreed terms and conditions for the relinquishment and transfer of the joint control and management rights of SLL by the outgoing promoters in favour of the Parent Company such that the Parent Company shall have the sole control and management rights of SLL from the start of the business hours on the Effective Date.

In consideration of the said relinquishment and transfer of joint control and management rights of SLL by outgoing promoters in favour of the Parent Company, the Parent Company will pay an aggregate control premium of Rs. 1,480 lakhs, plus GST as applicable, to the outgoing promoters, subject to the terms and conditions of the said CTA.

Subsequently, SLL is consolidated as a subsidiary from April 1, 2021. Further, the Group has accounted for the acquisition as a business combination under Ind AS 103 and accounted the fair value of assets and liabilities acquired on April 1, 2021. Accordingly, the Group has recognised goodwill on a provisional basis of Rs. 16,356.74 lakhs.

Executiok of DJare Dubscriptiok Agreemekt:

With the approval granted by the Board of the Parent Company at its Meeting, the Share Subscription Agreement (“SSA”) has been executed on April 30, 2021 (after the execution of CTA) by and amongst: (i) the Parent Company, (ii) SLL, (iii) Shri Ravindra Bharati, and (iv) Shri Arvind Bharati, for subscribing to the 4,50,00,000 Equity Shares of SLL (“Subscription Shares”) by the Parent Company and/or by its identified purchaser(s) at a price of Rs.10/- per Equity Share, which are to be issued on a private placement / preferential allotment basis, subject to the approval of the board of directors and shareholders of SLL.

• 2) During the quarter ended June 30, 2020, the Hon’ble National Company Law Tribunal, Mumbai Bench vide its order dated May 21, 2020 had approved the scheme of arrangement for demerger of the manufacturing undertaking of the Hind Lamps Limited (associate of the Parent Company) into the Parent Company, which has been filed with the Registrar of Companies on June 30, 2020. The Parent Company had accounted for the demerger as a business combination under Ind AS 103 as per the Scheme and accounted for the fair value of assets and liabilities acquired on a provisional basis on June 30, 2020. Consequently, the Parent Company has derecognised its existing 19% of the proportionate investment in the manufacturing undertaking of Hind Lamps Limited, resulting in a gain of Rs 2,548.60 lakhs which has been disclosed as an exceptional items in the above consolidated financial results for the year ended March 31, 2021. As per the Ind AS 103 and the Scheme, the difference of Rs 165.18 lakhs, between the fair value of the assets acquired, liabilities assumed and the consideration has been credited to other comprehensive income for the year ended March 31, 2021 and accumulated in equity as capital reserve as on March 31, 2021 in the above consolidated financial results.

As on June 30, 2020, the Group had recognised Rs. 2,843.73 lakhs as gain in exceptional items and Rs. 1,423.34 lakhs were credited in other comprehensive income. Subsequently, for the quarter ended March 31, 2021, the Group has recognised Rs. 295.13 lakhs debit and Rs. 1,258.16 lakhs in exceptional items and other comprehensive income, respectively.

• 3) The group has made an assessment of the impact of continuing COVID-19 pandemic on it current and future operations, liquidity position and cashflow giving due consideration to internal and external factors. The Company is continously monitoring the situation and does not foresee any significant impact on its operations and the financial position as at June 30, 2021.

• 4) The figures of the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year, which were subjected to a limited review.

• 5) The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on August 11, 2021.

• 6) Previous period / year figures have been regrouped / reclassified where necessary.

• 7) These consolidated 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).

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

ST NDT LOFAI EF DEGMENI WODE REVENUE, REDULI D, ADDEI D ANF LOABOLOI OED CT R I HE QUARI ER ENFEF 30tJ 2UNE 101(

		nRs. ik LahJs)	nRs. ik LahJs)	nRs. ik LahJs)	nRs. ik LahJs)
Dr. No.	Particulars	Quarter ekded			Year Ekded
		30-2uk-1(	30-2uk-10	3( -Mar-1(	3( -Mar-1(
		**nUkaudited) **	nUkaudited)	nAudited) nrefer kote 4)	nAudited)
( 1	DEGMENI REVENUE A) Consumer Products B) EPC C) Others Revekue from T peratioks DEGMENI PRT COI / nLT DD) BECT RE I AX & CONANSE ST DI A) Consumer Products B) EPC C) Others Less: A) Finance Cost B) Other un-allocable expenditure net of unallocable income Profit / nloss) before exceptiokal items, sJare of profit / nloss) of ak associate akd a joikt vekture akd tax Exceptional Items (refer note 2) Profit / nloss) before sJare of profit / nloss) of ak associate akd a joikt vekture akd tax Share of profit / (loss) of an associate and a joint venture Profit / nloss) before tax*	61,726 23,952 8	39,492 21,331 6	97,518 28,317 12	331,508 126,893 60
		85,787	70,819	( 15,846	458,47(
		604 (1,334) (13)	821 (4,369) (12)	8,450 (793) (9)	31,974 (5,413) (28)
		n643) 2,320 78	n3,570) 2,719 (229)	6,748 1,077 (902)	17,533 7,643 (3,188)
		n3,( 4( )	n7,050)	6,463	11,068
		-	(2,844)	295	(2,549)
		n3,( 4( )	n3,107)	6,( 68	14,716
		-	-	-	-
		n3,( 4( )	n3,107)	6,( 68	14,716
3 4	Degmekt Assets A) Consumer Products B) EPC C) Others D) Unallocable assets I otal Degmekt Liabilities A) Consumer Products B) EPC C) Others D) Unallocable liabilities including borrowings I otal	180,086 176,071 48 69,568	128,927 232,578 127 62,532	167,498 193,386 133 65,755	167,498 193,386 133 65,755
		415,663	414,( 74	417,661	417,661
		113,369 71,361 - 87,492	102,814 95,168 - 89,730	126,378 82,708 - 59,864	126,378 82,708 - 59,864
		161,111	186,6( 1	178,950	178,950
* pertains to consumer products segment Note : The Group has, pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products, EPC and Others. “Consumer Products” includes Appliances, Fans, Consumer Lighting Products and Morphy Richards. “EPC” includes Transmission Line Towers, Power Distribution and Illumination Projects. “Others” includes Wind Energy.
By Order of the Board of Directors for Bajaj Electricals Limited Place : Mumbai Shekhar Bajaj Date : August 11, 2021 Chairman and Managing Director SHEKHA R BAJAJ Digitally signed by SHEKHAR BAJAJ Date: 2021.08.11 13:16:54 +05'30'

• pertains to consumer products segment

Note :

The Group has, pursuant to the provisions of Ind AS 108, identified its business segments as its primary reportable segments, which comprises of Consumer Products, EPC and Others. “Consumer Products” includes Appliances, Fans, Consumer Lighting Products and Morphy Richards. “EPC” includes Transmission Line Towers, Power Distribution and Illumination Projects. “Others” includes Wind Energy.

	By Order of the Board of Directors
	for Bajaj Electricals Limited
	SHEKHA R BAJAJ Digitally signed by SHEKHAR BAJAJ Date: 2021.08.11 13:16:54 +05'30'
Place : Mumbai	Shekhar Bajaj
Date : August 11, 2021	Chairman and Managing Director

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 2021

		(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.	PARTICULARS	Quarter ended			Year Ended
		30-Jun-21	30-Jun-20	31-Mar-21	31-Mar-21
		(Unaudited)	(Unaudited)	(Audited)	(Audited)
1 2 3 4 5 6 7 8 9	Total income from operations Net Profit / (Loss) for the period (before tax, Exceptional and/or Extraordinary Items) Net Profit / (Loss) for the period before tax (after Exceptional and/or Extraordinary Items) Net Profit /(Loss) for period the after tax (after Exceptional and/or Extraordinary Items) Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax) & Other Comprehensive Income (after tax)] Equity Share Capital Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the previous year Networth Earnings per share after exceptional items (not annualised) (Face value of Rs. 2/-) Basic : Diluted : Earnings per share before exceptional items (not annualised) (Face value of Rs. 2/-) Basic : Diluted :	85,685 (3,141) (3,141) (2,497) (2,460) 2,293 (2.18) (2.18) (2.18) (2.18)	60,829 (6,050) (3,206) (1,660) (333) 2,275 (1.46) (1.46) (3.96) (3.96)	125,847 7,473 7,178 5,426 4,530 2,291 4.74 4.72 5.00 4.98	458,461 22,078 24,627 18,896 19,762 2,291 154,711 156,826 16.54 16.49 14.31 14.26
Key numbers of Standalone Financial Results		(Rs. In Lakhs)
Sr. No.	PARTICULARS	Quarter ended			Year Ended
		30-Jun-21	30-Jun-20	31-Mar-21	31-Mar-21
		(Unaudited)	(Unaudited)	(Audited)	(Audited)
1 2 3	Total income from operations Net Profit / (Loss) for the period before tax (after Exceptional and/or Extraordinary Items) Net Profit /(Loss) for the period after tax (after Exceptional and/or ExtraordinaryItems)	85,279 (869) (643)	60,774 (4,239) (2,717)	125,448 7,358 5,604	457,306 24,118 18,364

The above information has been extracted from the detailed consolidated unaudited financial results for the quarter ended 30th June 2021 which have been reviewed by the Audit Committee, approved by the Board of Directors and filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the said financial results are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com and on the Company's website www.bajajelectricals.com.

By order of the Board of Directors for Bajaj Electricals Limited

SHEKHA Digitally signed by SHEKHAR BAJAJ R BAJAJ Date: 2021.08.11 13:21:54 +05'30'

Place : Mumbai Date : August 11, 2021

Shekhar Bajaj Chairman & Managing Director

PRESS RELEASE

==> picture [172 x 85] intentionally omitted <==

August 11, 2021

Bajaj Electricals Posts Q1 Results Consumer Products (CP) Revenues up 56%, with positive EBIT

Bajaj Electricals Ltd has declared its results for the quarter ended June 30, 2021.

For the first quarter of 2021-22, the Company has achieved Sales/income from operations of Rs. 857 Cr. as against Rs. 608 Cr., an increase of 40.9% over the first quarter of the previous year. For the quarter, the company has made loss before exception items and tax of Rs. 31 Cr. as against loss before exception items and tax of Rs. 61 Cr. in the corresponding first quarter of the previous year.

For the quarter, Consumer Products (CP) segment of the Company has earned total revenue of Rs. 617 Cr. as against Rs. 395 Cr., a growth of 56.3% over the corresponding quarter of the previous year. CP recorded an EBIT of Rs. 6 Cr. as against Rs. 8 Cr., a de-growth of 26.4% over the corresponding first quarter of the previous year. EPC segment has achieved a total revenue of Rs. 240 Cr. as against Rs. 213 Cr., registering a growth of 12.3% over the corresponding quarter of the previous year. EPC recorded a loss of Rs. 13 Cr. as against loss of Rs. 44 Cr. over the corresponding first quarter of the previous year.

For the quarter ended June 30, 2021, the Company generated positive Cashflow from Operations of Rs. 39 Cr. Net Debt stand at Rs. 656 Cr. including the debt taken over during the quarter as a result of the acquisition of Starlite Lighting Limited. Debt repayment trajectory remains intact.

Mr. Shekhar Bajaj, Chairman and Managing Director of Bajaj Electricals Limited, said “While this quarter’s results are impacted by the second wave of COVID-19 and the rise in commodity prices, we have maintained our strategic direction and focus. The Consumer Products business continues to enjoy top-line growth and the EBIT margin for this quarter factors in the impact of various one-off or not-comparable costs and investments made. We remain confident of maintaining our margin expansion in the coming quarters. Our EPC segment has reduced its loss, while continuing to focus on execution and working capital. Even in a challenging quarter, we have continued to generate positive Cashflow from Operations. With demand picking up, we remain confident to deliver to our overall strategy and goals.”

The order book as on July 1, 2021 stands at Rs. 888 Cr., comprising of Rs. 498 Cr. for Transmission Line Towers, Rs. 69 Cr. for Power Distribution, and Rs. 321 Cr. for Illumination Projects.