Bajaj Electricals Limited has informed the Exchange about Transcript
BAJAJELEC · price
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Bajaj Electricals submitted the transcript of its Q1FY26 earnings call. The quarter was hurt by unseasonal rains in May that cut the summer short, leading to a sharp 45% decline in coolers and double-digit decline in fans. Overall company-level EBIT came in at 2.5%, dragged by operating deleverage. However, the non-seasonal business grew in high single digits, and the Lighting Solutions vertical posted its highest-ever EBIT margin of 10.6%. The company announced its entry into the switchgear segment under Lighting, targeting a 10-15% revenue contribution, and approved restructuring of its loss-making Nirlep business. B2B Lighting order book stands at Rs. 210 crore, with capex budget approved at around Rs. 140 crore plus a new factory under evaluation.
Mixed quarter for shareholders: seasonal headwinds weighed on headline numbers, but Lighting strength and new growth avenues (switchgear) provide some comfort. The Chairman himself called the quarter 'not at all satisfactory' but expressed confidence in stronger performance over the next three quarters, with festive season being a key trigger to watch.