Buy Bajaj Electricals, target Rs 400: Nirmal Bang Institutional Equities

Nirmal Bang Institutional Equities has buy call on Bajaj Electricals with a target price of Rs 400.

The current market price of Bajaj Electricals is Rs 328.1.

Time period given by analyst is a quarter when Bajaj Electricals price can reach defined target.

Bajaj Electricals, incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 3323.23 crore) operating in Consumer Durables sector.

Bajaj Electricals key Products/Revenue Segments include Consumer Durables which contributed Rs 2314.21 crore to Sales Value (53.84 per cent of Total Sales), Engineering & Projects which contributed Rs 1983.33 crore to Sales Value (46.14 per cent of Total Sales), Income from EPC,Contracts,& Others which contributed Rs 1983.33 crore to Sales Value (46.14 per cent of Total Sales), Others which contributed Rs .72 crore to Sales Value (0.01 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 1026.58 crore, down 18.49 per cent from last quarter Sales of Rs 1259.44 crore and up 8.26 per cent from last year same quarter Sales of Rs 948.29 crore.

Company has reported net profit after tax of Rs 20.50 crore in latest quarter. The company’s top management includes Dr.R P Singh, Dr.(Mrs.)Indu Shahani, Mr.Anant Bajaj, Mr.Anuj Poddar, Mr.Ashok Jalan, Mr.Harsh Vardhan Goenka, Mr.Madhur Bajaj, Mr.Shekhar Bajaj, Mr.Siddharth Mehta, Mr.V B Haribhakti. Company has Dalal & Shah LLP as its auditors. As on 30-06-2017, the company has a total of 101,410,676 shares outstanding.