India's Bajaj Electricals falls; brokerages say revenue recovery remains elusive

Bajaj Electricals

29/10/2026 05:22

** Electrical appliances maker Bajaj Electricals' BJEL.NS shares fall as much as 2.1% to 286.5 rupees after Q2 results 
** Sept-qtr net profit jumps 164.7% YoY to 261 million rupees ($2.74 million) but falls 46% sequentially
** Net sales up 1.6% YoY
** Ambit Capital ("Buy", TP: 468 rupees) says fans remain the key drag on co's consumer products division alongside weakness in professional lighting 
** Centrum Broking ("Neutral", TP: 320 rupees) says fans are a key ailing category where co has posted revenue decline and lost market share over the past few years; price hikes also remain insufficient due to severe cost inflation   
** Nirmal Bang ("Hold", TP: 324 rupees) says it remains constructive on lower costs and shift to higher-margin products, but a re-rating needs a visible revenue recovery  
** Five of 12 brokerages rate the stock "buy" or higher, six "hold" and one "sell"; their median PT is 365 rupees
** YTD, stock down 38.7% 


($1 = 95.2200 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))