Bajaj Electricals Q4 reports profit before tax at Rs.52.70 Cr
New Delhi, May 28 : Bajaj Electricals Ltd has declared its results for the fourth quarter & year ended 31st March, 2015.
During the fourth quarter, the net sales/income from operations has increased by 3.2% to Rs.1311.68 Cr as against Rs. 1270.97 Cr in the corresponding quarter of the previous year. The Company has registered profit before tax of Rs. 52.70 Cr as against Loss of Rs.14.57 Cr during the fourth quarter of the previous year. Net profit for the quarter is Rs. 46.90 Cr as against net loss of Rs.10.65 Cr during the corresponding quarter of the previous year.
For the financial year ended 31 March, 2015, net sales/income from operations is higher by 5.7% at Rs. 4258.11 Cr as against Rs. 4029.83 Cr in the previous year. However, the Company has incurred net loss of Rs. 13.95 Cr for the year as against net loss of Rs.5.31 Cr during the corresponding previous year.
During the quarter, Consumer Durable segment has earned total revenue of Rs. 546.15 Cr as against Rs.532.97 Cr in the corresponding previous period, a growth of 2.5%. Lighting segment with a total revenue of Rs. 271.89 Cr has de-grown by 8.6% when compared with the corresponding previous quarter. The EPC segment, on the other hand, has registered a growth of 12.1% with total revenue of Rs. 493.54 Cr as against Rs. 440.28 Cr during the corresponding quarter of the previous year.
During the year ended 31 March, 2015, Consumer Durable segments has registered total revenue of Rs. 2023.68 Cr, as against Rs. 1925.15 Cr, a growth of 5.1% over the corresponding previous period. Lighting Segment, however has de-grown by 5.7% with a total revenue of Rs. 898.27 Cr as against Rs. 952.97 Cr in the previous year. EPC segment has registered a growth of 16.1% with a total income of Rs. 1335.54 Cr as against Rs. 1150.11 Cr in the previous year.
Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals Limited, said “In spite of drop in revenue of lighting segment on account drop in sales of CFL, its margins have increased from Rs. 8.85 Cr to Rs. 11.68 Cr, an improvement of 1.3%, from 3.0% to 4.3%, mainly because of improved product mix, better price realisation and control over operating expenses. In case of Consumer durables segment, though the revenues registered a marginal growth of 2.5%, margins have increased from Rs. 19.05 Cr to Rs. 37.53 Cr, an improvement of 3.3%, from 3.6% to 6.9%, on account of better price realisation, mainly of seasonal products. The demand conditions are expected to improve in the near future and therefore with strong brand and distribution network, the Company is confident of leveraging its strengths to register a good performance in the year 2015-16. The Company has all the capabilities and strengths to navigate through the challenges presented by dynamic business environment and evolving customer preferences.
Anant Bajaj, Joint Managing Director, Bajaj Electricals Limited said “Over last two years, the Engineering & Projects segment had focused on agenda ‘Execution’, which coupled with strong project monitoring mechanism put in place ensured successful completion and handling over of all legacy projects. With the old legacy projects having been completed and non-collectable receivables provided for, the operations of the project business have resulted in a strong turn around in the fourth quarter of FY 2014-15 with revenue growth of 12.1% with a positive margin of Rs. 23.22 Cr as against a loss of Rs. 20.49 Cr in the corresponding quarter of the previous year. Necessary controls being in place, this segment is going to be a major contributor to the Company’s revenue in the current financial year.
With projects order book of Rs. 3390 Cr in hand, comprising of Rs. 753 Cr for Transmission Line Towers; Rs. 2492 Cr for Power Distribution; and Rs. 145 Cr for Illumination Projects, one can look forward to a good performance in the current financial year./IBNS