Bajaj Group stock which is one of the leading fast-moving electric goods companies jumped 2 percent in the day’s trade after its subsidiary received a contract worth Rs. 142.28 Crores, from PowerGrid Corporation of India.
At 2:08 p.m. the shares of Bajaj Electricals Limited were trading at Rs. 1,011.45, up 1.42 percent from its previous day’s close price of Rs. 997.30 and its market capitalization is Rs. 11,648 Crores.
Bajel Projects Limited, a subsidiary of Bajaj Projects Limited has been awarded a contract worth Rs. 142.28 Crores from PowerGrid Energy Services Limited, a wholly owned subsidiary of PowerGrid Corporation of India, for the supply of plant and installation service for 11 KV OH Line – 739KM, LT Line on insulated cable-1349 KM, 790 Numbers of Distribution Transformers at Pulwama and Awatipura Districts of J&K.
In FY23, Bajaj Electricals Limited generated 69.33 percent (Rs. 3,764.24 Crores) of its revenue from the Sale of Consumer Products, 20.72 percent (Rs. 1,125 Crores) from the lighting segment and the remaining 9.94 percent (Rs. 540 Crores) from EPC segment.
It has reported a return on equity (ROE) of 11.98 percent and a return on capital employed (ROCE) of 19.1 percent, it is making decent returns on its equity and good returns on its capital employed.
The company’s revenue from operations grew 12.8 percent from Rs. 4,813.01 Crores in FY22 to Rs. 5,429.26 Crores in FY23, accompanied by increasing profits of Rs. 128..52 Crores to Rs. 216.19 Crores.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 62.85 percent stake, the Domestic Institutional Investors hold 12.07 percent and the Foreign Institutional Investors (FII) hold 10.48 percent.
Bajaj Electricals Limited which is part of the Bajaj Group, is a leading fast-moving electric goods company engaged in the manufacturing and selling of consumer household and industrial goods.
Written by: Bharath K.S
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