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Last Updated: April 2, 2026, 2:40 am
Author: Getaka|Social: XLinkedIn

Bajaj Electricals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹698.50Undervalued by 101.88%vs CMP ₹346.00

P/E (85.9) × ROE (7.5%) × BV (₹134.00) × DY (0.87%)

₹242.69Overvalued by 29.86%vs CMP ₹346.00
MoS: -42.6% (Negative)Confidence: 53/100 (Moderate)Models: 3 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹548.8122%Under (+58.6%)
Graham NumberEarnings₹109.8216%Over (-68.3%)
Earnings PowerEarnings₹87.3913%Over (-74.7%)
DCFCash Flow₹20.7013%Over (-94%)
Net Asset ValueAssets₹134.307%Over (-61.2%)
EV/EBITDAEnterprise₹450.899%Under (+30.3%)
Earnings YieldEarnings₹40.007%Over (-88.4%)
ROCE CapitalReturns₹217.589%Over (-37.1%)
Revenue MultipleRevenue₹418.715%Under (+21%)
Consensus (9 models)₹242.69100%Overvalued
Key Drivers: EPS CAGR -21.4% drags value — could be higher if earnings stabilize. | Wide model spread (₹21–₹549) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -21.4%

*Investments are subject to market risks

Investment Snapshot

54
Bajaj Electricals Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health72/100 · Strong
ROCE 12.2% GoodROE 7.5% AverageD/E 0.16 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.31% (6mo) SellingDII holding up 1.29% MF buyingPromoter holding at 62.7% Stable
Earnings Quality50/100 · Moderate
OPM stable around 6% Steady
Quarterly Momentum58/100 · Moderate
Revenue (4Q): 1% YoY FlatProfit (4Q): +2% YoY Positive
Industry Rank25/100 · Weak
P/E 85.9 vs industry 44.5 Premium to peersROCE 12.2% vs industry 357.7% Below peers3Y sales CAGR: 0% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Bajaj Electricals Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 85.9 vs Ind 44.5 | ROCE 12.2% | ROE 7.5% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.16x | IntCov 0.0x | Current 1.18x | Borrow/Reserve 0.14x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹133 Cr | CFO/NP N/A
Ownership Accumulation
-50
Distribution
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -1.27 pp | DII +1.21 pp | Prom -0.01 pp
Business Momentum
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +3.9% | Q NP +650.0% | Q OPM +3.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-29.9%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.14xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-1.27 ppLatest FII% minus previous FII%
DII Change+1.21 ppLatest DII% minus previous DII%
Promoter Change-0.01 ppLatest promoter% minus previous promoter%
Shareholder Count Change+42Latest shareholder count minus previous count
Quarterly Sales Change+3.9%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+650.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+3.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:40 am

Market Cap 3,988 Cr.
Current Price 346
Intrinsic Value₹242.69
High / Low 711/330
Stock P/E85.9
Book Value 134
Dividend Yield0.87 %
ROCE12.2 %
ROE7.52 %
Face Value 2.00
PEG Ratio-4.01

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bajaj Electricals Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bajaj Electricals Ltd 3,988 Cr. 346 711/33085.9 1340.87 %12.2 %7.52 % 2.00
Hawkins Cookers Ltd 3,937 Cr. 7,443 9,900/7,02631.3 7041.75 %40.9 %32.0 % 10.0
IFB Industries Ltd 3,870 Cr. 955 2,025/88329.9 2280.00 %17.4 %13.7 % 10.0
Orient Electric Ltd 3,417 Cr. 160 255/14937.0 33.20.94 %17.9 %12.5 % 1.00
Harsha Engineers International Ltd 3,012 Cr. 331 452/31121.2 1470.30 %13.5 %6.11 % 10.0
Industry Average8,535.55 Cr1,270.2044.45210.900.53%357.66%11.88%6.57

All Competitor Stocks of Bajaj Electricals Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 1,2201,3081,2921,1121,1131,2281,1881,1551,1181,2901,2651,0651,107
Expenses 1,1271,2041,1971,0431,0381,1711,1381,0801,0671,2021,1721,0311,045
Operating Profit 941049569755850755287933362
OPM % 8%8%7%6%7%5%4%7%5%7%7%3%6%
Other Income 201220236432211151338248
Interest 10151212142018161719181813
Depreciation 18162221273030323536413737
Profit before tax 8686805941502438154571220
Tax % 26%26%35%27%33%26%-20%27%12%27%17%27%28%
Net Profit 6463524327372928133359215
EPS in Rs 5.565.524.523.762.373.252.542.441.122.895.120.141.27

Last Updated: January 2, 2026, 8:31 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 12:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,0024,2324,5904,2544,6976,6564,9754,5724,7684,8894,6394,8264,488
Expenses 3,9204,1434,3264,0114,4036,3084,7684,2714,5414,5154,3794,5194,287
Operating Profit 8288264243293348207302227375260307201
OPM % 2%2%6%6%6%5%4%7%5%8%6%6%4%
Other Income 15244836-366553848846827655
Interest 781041088059116169765344637061
Depreciation 25292730343868695774110144150
Profit before tax -6-211771681642592224120530316917045
Tax % -11%-33%38%36%49%36%101%24%25%29%22%21%
Net Profit -5-1411010884167-018415421613213346
EPS in Rs -0.48-1.259.859.577.3914.69-0.0116.0413.3618.8011.4411.574.00
Dividend Payout % -282%-108%26%26%43%21%0%0%22%21%26%26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-180.00%885.71%-1.82%-22.22%98.81%-100.00%-16.30%40.26%-38.89%0.76%
Change in YoY Net Profit Growth (%)0.00%1065.71%-887.53%-20.40%121.03%-198.81%83.70%56.56%-79.15%39.65%

Bajaj Electricals Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:-1%
3 Years:0%
TTM:1%
Compounded Profit Growth
10 Years:26%
5 Years:287%
3 Years:-11%
TTM:-24%
Stock Price CAGR
10 Years:11%
5 Years:5%
3 Years:-20%
1 Year:-41%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:9%
Last Year:8%

Last Updated: September 5, 2025, 12:15 am

Balance Sheet

Last Updated: December 10, 2025, 2:25 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 20202020202023232323232323
Reserves 6906677368519241,0571,3571,5821,7621,8841,4181,5361,525
Borrowings 3484088996477231,5821,07954170101215243215
Other Liabilities 1,6271,7271,3051,5691,8052,5002,1002,1052,1582,9852,1772,2511,991
Total Liabilities 2,6852,8222,9603,0873,4735,1604,5594,2504,0134,9933,8334,0533,754
Fixed Assets 249278276310316322404461422770916950899
CWIP 332186911184442631312
Investments 6759808014515338109473567141
Other Assets 2,3662,4822,5832,6883,1364,7784,0913,7343,4394,1342,8193,0232,703
Total Assets 2,6852,8222,9603,0873,4735,1604,5594,2504,0134,9933,8334,0533,754

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -7121305437-103-602627660936449354347
Cash from Investing Activity + -76-83-53-9036-127-46-110-331-88-449-195
Cash from Financing Activity + 87-56-239-36864718-491-605-533-139-133-146
Net Cash Flow 4-1913-22-3-1190-5672223-2276
Free Cash Flow -5759255390-138-658599650902378223318
CFO/OP 29%172%137%198%-17%-133%325%223%432%126%137%114%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-266.00-320.00-635.00-404.00-430.00347.00206.00-239.00157.00274.0045.0064.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11311111211513614415012186839297
Inventory Days 575860766864761181041068579
Days Payable 15214266841008599115134195206212
Cash Conversion Cycle 172710610710412312712457-6-30-35
Working Capital Days 002-41710193025391235
ROCE %7%8%21%16%20%17%7%12%13%18%13%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 62.86%62.85%62.85%62.85%62.80%62.78%62.76%62.72%62.72%62.72%62.71%62.70%
FIIs 11.22%10.92%10.49%10.41%10.18%7.93%8.23%7.82%7.79%7.89%7.75%6.48%
DIIs 12.39%11.96%12.06%12.11%12.61%14.75%15.59%15.91%15.79%15.57%15.87%17.08%
Public 13.51%14.26%14.60%14.62%14.41%14.53%13.41%13.54%13.70%13.83%13.68%13.74%
No. of Shareholders 63,05960,38963,10165,60063,09459,46061,77465,27968,26368,57377,02977,071

Shareholding Pattern Chart

No. of Shareholders

Bajaj Electricals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 6,256,654 0.7 259.376,443,6542025-12-15 01:11:04-2.9%
Nippon India Small Cap Fund 3,092,715 0.19 128.213,062,0712025-12-08 07:42:131%
HDFC ELSS Tax Saver Fund 2,173,589 0.54 90.112,300,0002026-02-23 01:16:02-5.5%
ICICI Prudential Multicap Fund 1,881,753 0.49 78.011,879,6932026-01-25 00:03:400.11%
ICICI Prudential Manufacturing Fund 1,294,080 0.85 53.65842,7592025-12-15 01:11:0453.55%
HDFC Manufacturing Fund 1,170,000 0.47 48.5N/AN/AN/A
HDFC Retirement Savings Fund - Equity 700,000 0.42 29.02N/AN/AN/A
ICICI Prudential Housing Opportunities Fund 482,945 0.83 20.02N/AN/AN/A
Tata Flexi Cap Fund 479,193 0.55 19.86390,6532026-02-23 01:16:0222.66%
DSP India T.I.G.E.R. Fund 348,897 0.28 14.46785,0662026-02-23 01:16:02-55.56%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 11.5711.3918.8010.8516.54
Diluted EPS (Rs.) 11.5611.3718.7710.8116.49
Cash EPS (Rs.) 24.0620.8925.8916.8623.06
Book Value[Excl.RevalReserv]/Share (Rs.) 149.57125.11165.74148.44140.10
Book Value[Incl.RevalReserv]/Share (Rs.) 149.57125.11165.74148.44140.10
Revenue From Operations / Share (Rs.) 418.62402.90471.80418.98400.27
PBDIT / Share (Rs.) 31.4030.0537.6727.7232.51
PBIT / Share (Rs.) 18.9120.5430.5721.7025.95
PBT / Share (Rs.) 14.7115.0326.3714.4821.50
Net Profit / Share (Rs.) 11.5711.3818.7910.8316.50
NP After MI And SOA / Share (Rs.) 11.5711.3818.7911.1916.64
PBDIT Margin (%) 7.507.457.986.618.12
PBIT Margin (%) 4.515.096.475.176.48
PBT Margin (%) 3.513.725.583.455.37
Net Profit Margin (%) 2.762.823.982.584.12
NP After MI And SOA Margin (%) 2.762.823.982.674.15
Return on Networth / Equity (%) 7.739.0911.337.4211.87
Return on Capital Employeed (%) 11.0514.1117.0713.5917.07
Return On Assets (%) 3.163.414.623.214.48
Long Term Debt / Equity (X) 0.000.000.000.010.01
Total Debt / Equity (X) 0.000.000.000.020.16
Asset Turnover Ratio (%) 1.201.091.241.151.04
Current Ratio (X) 1.291.211.301.211.18
Quick Ratio (X) 0.960.850.890.740.78
Inventory Turnover Ratio (X) 6.550.560.500.410.35
Dividend Payout Ratio (NP) (%) 25.9035.1215.940.000.00
Dividend Payout Ratio (CP) (%) 12.4519.1311.570.000.00
Earning Retention Ratio (%) 74.1064.8884.060.000.00
Cash Earning Retention Ratio (%) 87.5580.8788.430.000.00
Interest Coverage Ratio (X) 5.195.458.964.574.87
Interest Coverage Ratio (Post Tax) (X) 2.603.145.472.973.14
Enterprise Value (Cr.) 6173.6710157.4611736.7812224.9911392.02
EV / Net Operating Revenue (X) 1.282.192.162.542.48
EV / EBITDA (X) 17.0429.3427.0738.3830.59
MarketCap / Net Operating Revenue (X) 1.302.252.232.572.44
Retention Ratios (%) 74.0964.8784.050.000.00
Price / BV (X) 3.657.246.357.136.98
Price / Net Operating Revenue (X) 1.302.252.232.572.44
EarningsYield 0.020.010.010.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bajaj Electricals Ltd. is a Public Limited Listed company incorporated on 14/07/1938 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L31500MH1938PLC009887 and registration number is 009887. Currently Company is involved in the business activities of Manufacture of domestic appliances. Company's Total Operating Revenue is Rs. 4828.43 Cr. and Equity Capital is Rs. 23.07 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Domestic Appliances45/47, Veer Nariman Road, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. Shekhar BajajChairman
Mr. Sanjay SachdevaManaging Director & CEO
Mrs. Pooja BajajExecutive Director
Mr. Rajiv BajajNon Executive Director
Mr. Nirav BajajAddnl.Non Executive Director
Mr. Shailesh HaribhaktiIndependent Director
Mr. Sudarshan SampathkumarIndependent Director
Mr. Saurabh KumarIndependent Director
Ms. Swati SalgaocarIndependent Director
Mr. Vikram HosangadyIndependent Director

FAQ

What is the intrinsic value of Bajaj Electricals Ltd and is it undervalued?

As of 05 April 2026, Bajaj Electricals Ltd's intrinsic value is ₹242.69, which is 29.86% lower than the current market price of ₹346.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.52 %), book value (₹134), dividend yield (0.87 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bajaj Electricals Ltd?

Bajaj Electricals Ltd is trading at ₹346.00 as of 05 April 2026, with a FY2026-2027 high of ₹711 and low of ₹330. The stock is currently near its 52-week low. Market cap stands at ₹3,988 Cr..

How does Bajaj Electricals Ltd's P/E ratio compare to its industry?

Bajaj Electricals Ltd has a P/E ratio of 85.9, which is above the industry average of 44.45. The premium over industry average may reflect growth expectations or speculative interest.

Is Bajaj Electricals Ltd financially healthy?

Key indicators for Bajaj Electricals Ltd: ROCE of 12.2 % is moderate; ROE of 7.52 % is below ideal levels (industry average: 11.88%). Dividend yield is 0.87 %.

Is Bajaj Electricals Ltd profitable and how is the profit trend?

Bajaj Electricals Ltd reported a net profit of ₹133 Cr in Mar 2025 on revenue of ₹4,826 Cr. Compared to ₹154 Cr in Mar 2022, the net profit shows a declining trend.

Does Bajaj Electricals Ltd pay dividends?

Bajaj Electricals Ltd has a dividend yield of 0.87 % at the current price of ₹346.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bajaj Electricals Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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