Bajaj Electricals Q4 Review - On Route To 10% Ebitda Margin By FY23: ICICI Securities

An electrician fixing ceiling lights. (Soruce: Company website).

Bajaj Electricals Q4 Review - On Route To 10% Ebitda Margin By FY23: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

We remain positive on Bajaj Electricals Ltd. as turnaround play. We note-

1. it is successful in improving Ebitda margin steadily (244 basis points expansion in FY21) due to higher focus on consumer business and reduction in losses of EPC segment,

2. investments in innovation with 170 new product launches in FY21 and

3. focus on higher revenue per store which will lead to decline in working capital days and increase in market shares.

The working capital days reduced to 48 in FY21 from 66 in FY20.

Click on the attachment to read the full report:

ICICI Securities Bajaj Electricals Q4FY21 Result Update.pdf

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