Buy Bajaj Electricals, target price Rs 1200: HDFC Securities

HDFC Securities has buy call on Bajaj Electricals with a target price of Rs 1200. The current market price of Bajaj Electricals Ltd. is Rs 1072.3.

Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 12349.02 Crore) operating in Consumer Durables sector.

Bajaj Electricals Ltd. key Products/Revenue Segments include Consumer Durables, Contract Revenue, Scrap and Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 1210.54 Crore, down -4.75 % from last quarter Total Income of Rs 1270.97 Crore and down -20.47 % from last year same quarter Total Income of Rs 1522.11 Crore. Company reported net profit after tax of Rs 29.31 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 62.8 per cent stake in the company as of 31-Mar-2024, while FIIs owned 10.18 per cent, DIIs 12.61 per cent.