Bajaj Electricals (500031) Q4 96/97 earnings summary

Executive summary

• FY97 sales turnover rose 13.58% to ₹260.03 crore; gross profit increased 57.67% to ₹10.28 crore, supported by better margins.

• Net profit was ₹5.10 crore before the prior-year tax adjustment and ₹5.07 crore after it; a ₹3 per-share dividend was recommended.

Financial highlights

• Revenue reached ₹260.03 crore versus ₹228.93 crore in FY96; profit before provisions was ₹8.84 crore versus ₹5.56 crore.

• Profit after tax was ₹5.10 crore; after a ₹2.62 lakh short provision for earlier years, earnings were ₹5.07 crore, with ₹1.50 crore carried forward.

• Proposed dividend totaled ₹86.43 lakh; ₹8.64 lakh tax on distributed profits and ₹3.62 crore transferred to general reserve.

Outlook and guidance

• Chakan die-casting production was expected to start in November 1997; the project was intended to expand installed capacity.

• Planned launches included one table-fan model, three ceiling-fan models, a split air-conditioner blower motor and a BDB mixer grinder by September 1997.

• Further rollout of the UV water filter to additional branches was planned during FY98.