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Informist, Wednesday, Aug. 5, 2026

 

By Pratyush Kumar   

 

MUMBAI – Bajaj Electricals Ltd. is likely to report a more than two-fold increase in its net profit for the June quarter on the back of a lower base and a sharp rise in revenue, driven by volume growth in the company's fans and coolers segment, according to brokerages tracking the company.

 

The company is expected to report a net profit of INR 215 million for the June quarter, according to the average of estimates from five brokerages. The profit is seen doubling from the adjusted profit of INR 83.20 million reported in the year-ago quarter and a turnaround from an adjusted loss of INR 87.40 million reported in the March quarter. The highest estimate for the net profit is INR 268 million from 360 ONE Capital Market Pvt. Ltd. and the lowest is INR 178 million from Nirmal Bang Equities Pvt. Ltd.

 

Bajaj Electricals' net revenue for the June quarter is seen rising nearly 9% on year to INR 11.57 billion, according to the average of estimates. However, sequentially, the revenue is seen down 7% from INR 12.40 billion reported for the March quarter. The highest estimate for the net revenue is INR 12.00 billion from YES Securities (India) Ltd. and the lowest is INR 10.94 billion from 360 ONE Capital.

 

The consumer durables sector is expected to report high growth for the June quarter led by a rise in demand due to the extended summer. Volumes for room air conditioners, fans, and coolers likely improved and supported sales growth, Anand Rathi Share and Stock Brokers Ltd. said.

 

Bajaj Electricals' revenue from the consumer durables segment for the June quarter is likely to grow due to a low base, while the lighting solutions segment is expected to perform well on the back of premiumisation of products, Nuvama said. The kitchen appliances segment is expected to report high single digit growth for the June quarter, YES Securities said.

 

The company's earnings before interest, tax, depreciation, and amortisation for the June quarter are expected to be INR 456-INR 652 million, according to three estimates. The highest estimate is from Nuvama Wealth Management Ltd. and the lowest is from Nirmal Bang. The company's EBITDA margin for the June quarter is likely to improve sequentially on the back of cost control initiatives, YES Securities said. The EBITDA margin is expected to expand sequentially on the back of higher sales of premium products, the brokerage said.

 

The fast-moving electrical goods maker's EBITDA margin is expected in the range of 3.8-6.20%, according to three brokerages. The company had reported an EBITDA margin of 3.1% in the year-ago quarter. The highest estimate for EBITDA margin is from 360 ONE Capital and the lowest is from Nirmal Bang.

 

Bajaj Electricals makes home appliances, fans, coolers, and lighting solutions among others. The company will detail its June quarter earnings Thursday. Wednesday, shares of the company ended at INR 348.10 apiece on the National Stock Exchange, marginally down from Tuesday. The stock is trading 2.4% lower since the company detailed its March quarter earnings on May. 15.

 

Of the eight brokerage reports on the company available with Informist, three have a "buy" recommendation on the stock at an average target price of INR 398 per share, 14% higher than the current market price. Three brokerages have a "hold" call at an average price of INR 408 per share. Two brokerages recommended a "sell" on the stock at an average price of INR 340 per share.

 

Below are the Apr-Jun quarter earnings estimates, in INR million, for Bajaj Electricals from five brokerages in descending order of the net profit estimate: 

 

Brokerage	Net sales	Net profit	EBITDA
360 ONE Capital Market Pvt. Ltd.	10,936	268	--
Anand Rathi Share and Stock Brokers Ltd.	11,468	236	--
Nuvama Wealth Management Ltd.	11,578	208	652
YES Securities (India) Ltd.	12,008	187	634
Nirmal Bang Equities Pvt. Ltd.	11,863	178	456
Average	11,571	215	581

 

End

 

Edited by Pankaj Aher

 

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