Bajaj Electricals Limited (IN:BAJAJELEC)
:BAJAJELEC
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Bajaj Electricals Limited
(BAJAJELEC)
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Rating:53Neutral
Price Target:
₹363.00
▼(-23.04% Downside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by FY2026’s earnings deterioration (net loss and margin compression) and a bearish technical setup with the stock below major moving averages. Offsetting factors are strong operating/free cash flow and a conservatively levered balance sheet, while valuation support is limited due to negative earnings and a modest dividend yield.
Positive Factors
Conservative Leverage
A very low debt-to-equity (~0.10 in FY2026) gives durable financial flexibility, lowering interest burden and improving resilience to cycles. This conservatively levered capital structure supports funding EPC working capital and capex without heavy refinancing, preserving options for strategic investment or buffering downturns.
Negative Factors
FY2026 Earnings Reset
The swing to a net loss and sharply compressed operating margins in FY2026 represents a meaningful earnings reset. Reduced profitability weakens return-on-equity and internal funding for growth, raises execution risk on projects, and constrains reinvestment or dividend capacity until margins sustainably recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Leverage
A very low debt-to-equity (~0.10 in FY2026) gives durable financial flexibility, lowering interest burden and improving resilience to cycles. This conservatively levered capital structure supports funding EPC working capital and capex without heavy refinancing, preserving options for strategic investment or buffering downturns.
Read all positive factors
Bajaj Electricals Limited (BAJAJELEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹41.32B
Dividend Yield0.62%
Average Volume (3M)60.84K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth-7.59%
EPS Growth-168.03%
CountryIN
Employees1,958
SectorConsumer Defensive
Sector Strength42
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-4.92
Shares Outstanding115,390,720
10 Day Avg. Volume21,424
30 Day Avg. Volume60,840
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)2.44
Price to Sales (P/S)0.87
P/FCF Ratio6.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.3
Revenue Forecast (FY)₹49.53B
Bajaj Electricals Limited Business Overview & Revenue Model
Company Description
Bajaj Electricals Limited engages in the consumer durables; and engineering, procurement, and construction businesses in India. It operates through Consumer Products; Engineering & Projects; and Others segments. The company offers various applianc...
How the Company Makes Money
Bajaj Electricals makes money mainly by selling products and executing projects across its operating businesses. A major revenue stream comes from the sale of consumer electrical products (e.g., fans and home appliances) and lighting products, whi...
Bajaj Electricals Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
66
Positive
Cash Flow
78
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.62B | 48.28B | 46.22B | 48.68B | 48.13B |
| Gross Profit | 8.32B | 14.94B | 13.27B | 14.44B | 8.52B |
| EBITDA | 1.51B | 3.62B | 3.44B | 4.17B | 3.05B |
| Net Income | -908.60M | 1.33B | 1.31B | 2.16B | 1.29B |
Balance Sheet | |||||
| Total Assets | 42.60B | 42.19B | 38.33B | 46.77B | 39.92B |
| Cash, Cash Equivalents and Short-Term Investments | 5.20B | 5.08B | 3.04B | 4.09B | 1.42B |
| Total Debt | 1.59B | 2.43B | 2.15B | 12.88B | 907.88M |
| Total Liabilities | 26.66B | 24.94B | 23.92B | 27.70B | 22.86B |
| Stockholders Equity | 15.94B | 17.25B | 14.41B | 19.07B | 17.32B |
Cash Flow | |||||
| Free Cash Flow | 5.80B | 3.42B | 2.23B | 3.65B | 8.38B |
| Operating Cash Flow | 6.12B | 3.47B | 3.54B | 4.50B | 9.14B |
| Investing Cash Flow | -4.10B | -1.95B | -2.10B | -880.30M | -705.23M |
| Financing Cash Flow | -995.00M | -1.46B | -1.33B | -1.39B | -7.71B |
Bajaj Electricals Limited Technical Analysis
Negative
471.70
Price Trends
375.06
Negative
399.01
Negative
472.50
Negative
Market Momentum
-2.25
Positive
33.05
Neutral
14.92
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJAJELEC, the sentiment is Negative. The current price of 471.7 is above the 20-day moving average (MA) of 393.78, above the 50-day MA of 375.06, and below the 200-day MA of 472.50, indicating a bearish trend. The MACD of -2.25 indicates Positive momentum. The RSI at 33.05 is Neutral, neither overbought nor oversold. The STOCH value of 14.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BAJAJELEC.
Bajaj Electricals Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹188.60B | -59.47 | ― | 1.16% | 2.95% | -143.51% | |
63 Neutral | ₹43.95B | 66.01 | ― | ― | 12.52% | 6.89% | |
63 Neutral | ₹70.61B | 64.27 | ― | 0.97% | 7.67% | -60.52% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹40.59B | 34.81 | ― | 0.82% | 7.52% | 15.23% | |
53 Neutral | ₹41.32B | -42.86 | ― | 0.62% | -7.59% | -168.03% | |
45 Neutral | ₹49.91B | -33.51 | ― | 1.43% | -40.93% | -164.83% |
* Consumer Defensive Sector Average
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Bajaj Electricals Limited Corporate Events
Bajaj Electricals to Challenge Upheld GST Demand of Rs. 2.69 Crore
May 9, 2026
Bajaj Electricals has disclosed that the Appellate Authority and Additional Commissioner of Revenue, State Tax, Large Taxpayer Unit, West Bengal, has upheld a prior GST assessment order for FY 2020-21, confirming an aggregate demand of Rs. 2.69 cr...
CRISIL Reaffirms Bajaj Electricals’ Key Credit Ratings, Withdraws Rating on Rs. 600 Crore Facilities
Apr 23, 2026
Bajaj Electricals Limited has had its existing credit ratings on bank loan facilities of Rs. 1,400 crore reaffirmed by CRISIL, which maintained a long-term rating of ‘CRISIL AA-/Stable’ and a short-term rating of ‘CRISIL A1+̵...
Bajaj Electricals Confirms SEBI Dematerialisation Compliance for March 2026 Quarter
Apr 6, 2026
Bajaj Electricals Limited has reported that its registrar and transfer agent, MUFG Intime India Private Limited, has certified the company’s compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for ...
Bajaj Electricals Seals Deal to Fully Acquire Morphy Richards Brand Rights in South Asia
Mar 16, 2026
Bajaj Electricals Limited has executed definitive agreements to acquire the Morphy Richards brand and related intellectual property, including trademarks, goodwill, and domain names, from Ireland-based Glen Electric Limited. The transaction grants...
Bajaj Electricals Faces Rs 19.9 Crore GST Demands from Tamil Nadu Authorities
Mar 15, 2026
Bajaj Electricals has disclosed that it received two assessment orders from the Tamil Nadu GST authorities for fiscal years 2019-20 and 2022-23, raising alleged tax, interest and penalty demands of Rs. 11.20 crore and Rs. 8.73 crore, respectively....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.