Mumbai: Bajaj Electricals Ltd reported a subdued performance for the fourth quarter of FY26, with standalone revenue declining 2% year-on-year to Rs 12.4 billion, though coming in ahead of estimates on the back of healthy growth in its lighting business.
Standalone EBITDA fell 54% year-on-year to Rs 432 million, while EBITDA margin contracted 387 basis points to 3.5% due to weaker gross margins and continued pressure in the consumer products (CP) segment. Gross margin stood at 29.3%, down 175 basis points year-on-year.
The company reported a recurring net loss of Rs 87 million for the quarter, compared with expectations of a near breakeven performance. Reported net loss widened to Rs 662 million after accounting for exceptional impairment provisions worth Rs 558 million, including Rs 264 million related to Nirlep goodwill and Rs 293 million on moulds and dies.
Bajaj Electricals also announced a final dividend of Rs 3 per share.
The consumer products segment remained weak, with revenue declining 7% year-on-year to Rs 9.3 billion. The segment posted an EBIT loss of Rs 68 million compared with a profit of Rs 390 million in the corresponding quarter last year. EBIT margin for the segment stood at negative 0.7%.
In contrast, the lighting solutions business delivered stronger performance, with revenue rising 16% year-on-year to Rs 3.1 billion. EBIT margin in the segment improved 86 basis points to 8.7%.
According to analysts, the quarter reflected continued weakness in the consumer products business, partly offset by resilient performance in lighting.
At the current market price of Rs 390, the stock trades at 28.7 times FY27 estimated earnings and 22.4 times FY28 estimated earnings.