BAJAJ ELECTRICALS LIMITED (BAJAJELEC): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹278.9 latest close · −15.2% over the last 90 sessions

₹278.9 month-end · −42.1% over 12 months

₹278.9 month-end · −72.0% over 3 years

₹278.9 month-end · −7.0% since Jan '19

52-week range ₹263.25 to ₹530.00 · 1-year volatility 31.8%

How rough has the ride been?

Maximum drawdown-76.3%not yet recovered

1-year volatility31.8%annualised

Beta vs sector index0.733-year daily, correlation 0.41

Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-76.3% (2023-09 peak to 2026-10 low, not yet recovered)

-52.6% (2019-04 peak to 2020-04 low, recovered 2020-11)

-41.2% (2021-09 peak to 2022-06 low, recovered 2023-09)

Most recent volume spikes

2026-10-29: 5.4x the 50-day median, price -3.0% that day

2026-10-28: 70.7x the 50-day median, price +3.9% that day

2026-10-15: 81.7x the 50-day median, price +0.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Consumer Durables peers?

Each cell is the company's percentile rank among its Consumer Durables peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE9th▼ 29 pts vs a year ago
Op. margin32nd▲ 16 pts vs a year ago
Revenue growth10th▼ 15 pts vs a year ago
EPS growth1st▼ 20 pts vs a year ago
Debt/equity ↓73rd▲ 4 pts vs a year ago
Cash cycle ↓96th▲ 4 pts vs a year ago
P/E ↓6th▼ 8 pts vs a year ago
12M momentum11th▼ 4 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Consumer Durables sector page Watch it move against Consumer Durables in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Consumer Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹278.90
ROCE: 3.0%
Market Cap: ₹3222 cr
Revenue (TTM): ₹4487 cr
P/S: 0.7x
P/B: 2.0x
ROE: -2.7%
Operating Margin: 7.0%
Debt / Equity: 0.1x
Promoter Holding: 62.7%
12M Momentum: -42.1%

52-week range

₹263.25₹530.00

6% of the way from its 52-week low to its high

Price risk

1Y volatility

31.8%

Beta vs sector

1-year daily

0.65

Balance sheet & cash

Interest cover

operating profit ÷ interest

0.5x

Cash from profit, 3Y

operating cash flow ÷ net profit

5.00x

Share count, 1Y

unchanged

Are profits backed by cash?

4 of 5checks within range1 near a threshold

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion7.63xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 7.63x (cash from operations ₹1,320 cr, net profit ₹173 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+1 daysWithin range

Debtor days are above the median of the previous three fiscal years by 1 days (93 vs 92). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+31 days / 2 yrsNear threshold

Days payable changed by +31 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, FIIs trimmed 5.1 pts; DIIs added 4.8 pts.
The number of shareholders rose from 63,101 to 84,855 (+34%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters62.9%62.7%-0.1 pts

FIIs10.5%5.4%-5.1 pts

DIIs12.1%16.8%+4.8 pts

Public and others14.6%15.1%+0.5 pts

Number of shareholders

84,855shareholders+34% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−4.5%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like BAJAJ ELECTRICALS LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −17% to +38% vs the market, against −6% for all non-financial companies in the same months.
The gap against the base rate (+1.2%, 80% range −6.3% to +11.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median

−4.5%

All companies' median

−5.7%

Beat the market

48% vs 44%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ANDHRAPAP Process Industries	Jan 2022	—	0%	+1%	−24%	+119%
HGS Commercial Services	Sep 2025	—	3%	−40%	−41%	−25%
BUTTERFLY Consumer Durables	Nov 2024	—	5%	−20%	−31%	−17%
FORCEMOT Consumer Durables	Jun 2021	—	-5%	+30%	−20%	−16%
GUJALKALI Process Industries	May 2025	—	-4%	−25%	−35%	+19%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SCHAND Consumer Services	Nov 2020	—	-5%	−29%	−29%	+10%
VALIANTORG Process Industries	Nov 2024	—	1%	−29%	−34%	−28%
VIKASLIFE Distribution Services	Feb 2025	—	4%	−51%	−53%	−59%

How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, interest cover and ROCE. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to BAJAJ ELECTRICALS LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

PRATAAP SNACKSDIAMONDYD

Consumer Non-Durables

67%similar

debt/equityvolatility

HINDUJA GLOBAL SOLUTIONS LIMITHGS

Commercial Services

67%similar

revenuerevenue growth

SHREE RENUKA SUGARSRENUKA

Process Industries

66%similar

promoter holdingmarket cap

PRINCE PIPES AND FITTINGSPRINCEPIPE

Producer Manufacturing

62%similar

market caprevenue growth

VENKYS INDIAVENKEYS

Process Industries

55%similar

debt/equityrevenue growth

EUREKA FORBESEUREKAFORB

Consumer Durables

57%similar

promoter holdingROCE

NILKAMALNILKAMAL

Consumer Durables

49%similar

market cappromoter holding

TTK PRESTIGETTKPRESTIG

Consumer Durables

47%similar

debt/equityrevenue

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Oct '23

2026
OctPriceFell 76% from the Sep 2023 peak to the Oct 2026 low.
OctPriceVolume reached 81.7x its 50-day median on 2026-10-15; price +0.4% that day.
SepPeer rankMoved into the 3rd quartile of Consumer Durables on operating margin (from the bottom quartile).
AugPriceVolume reached 109.9x its 50-day median on 2026-08-06; price +9.9% that day.
JunResultsEPS (TTM) turned negative.
JunPeer rankSlipped to the bottom quartile of Consumer Durables on ROCE (from the 3rd quartile).
JunDividendDividend payout cut from 26% to -38% of profit.
MayPriceVolume reached 9.3x its 50-day median on 2026-05-29; price -5.8% that day.

Show 22 earlier events

2026
MarValuationP/E crossed above the 90th percentile of its own history to date (109.3x).
MarPeer rankSlipped to the bottom quartile of Consumer Durables on EPS growth (from the 3rd quartile).
JanPriceVolume reached 229.2x its 50-day median on 2026-01-20; price -2.9% that day.
2025
DecPeer rankMoved into the 3rd quartile of Consumer Durables on EPS growth (from the bottom quartile).
NovPriceVolume reached 22.3x its 50-day median on 2025-11-24; price +0.2% that day.
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankSlipped to the bottom quartile of Consumer Durables on operating margin (from the 3rd quartile).
SepPriceVolume reached 360.0x its 50-day median on 2025-09-24; price +2.2% that day.
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 3rd quartile of Consumer Durables on EPS growth (from the bottom quartile).
MayValuationP/E crossed above the 90th percentile of its own history to date (76.4x).
MayPriceVolume reached 33.2x its 50-day median on 2025-05-12; price +15.2% that day.
MarPeer rankMoved into the 3rd quartile of Consumer Durables on operating margin (from the bottom quartile).
FebPriceVolume reached 47.4x its 50-day median on 2025-02-21; price +2.0% that day.
2024
DecValuationP/E crossed above the 90th percentile of its own history to date (82.1x).
NovPriceVolume reached 13.4x its 50-day median on 2024-11-18; price -2.1% that day.
AugPriceVolume reached 10.4x its 50-day median on 2024-08-21; price +1.7% that day.
JunResultsYear-on-year EPS growth turned negative.
JunValuationP/E crossed above the 90th percentile of its own history to date (92.9x).
JunPeer rankSlipped to the 3rd quartile of Consumer Durables on ROCE (from the 2nd quartile).
JunPriceVolume reached 15.1x its 50-day median on 2024-06-03; price +0.1% that day.
2023
OctPriceVolume reached 9.8x its 50-day median on 2023-10-16; price +0.9% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	—	₹4487 cr	-2.7%	3.0%	0.1x
2026-10	—	₹4487 cr	-2.8%	3.0%	0.1x
2026-09	—	₹4487 cr	-2.8%	3.0%	0.1x
2026-08	—	₹4463 cr	-5.7%	3.0%	0.1x
2026-07	—	₹4463 cr	-5.7%	3.0%	0.1x
2026-06	—	₹4463 cr	-5.7%	3.0%	0.1x
2026-05	101.8x	₹4488 cr	2.1%	12.0%	0.1x
2026-04	128.2x	₹4488 cr	2.1%	12.0%	0.1x
2026-03	109.3x	₹4488 cr	2.1%	12.0%	0.1x
2026-02	40.8x	₹4727 cr	6.0%	12.0%	0.1x
2026-01	46.4x	₹4727 cr	6.0%	12.0%	0.1x
2025-12	53.4x	₹4727 cr	6.0%	12.0%	0.1x
2025-11	52.3x	₹4738 cr	6.1%	12.0%	0.1x
2025-10	55.8x	₹4738 cr	6.1%	12.0%	0.1x
2025-09	59.2x	₹4738 cr	6.1%	12.0%	0.1x
2025-08	49.2x	₹4828 cr	7.7%	12.0%	0.1x
2025-07	53.4x	₹4828 cr	7.7%	12.0%	0.1x
2025-06	59.5x	₹4828 cr	7.7%	12.0%	0.1x
2025-05	76.4x	₹4751 cr	7.1%	13.0%	0.1x
2025-04	60.6x	₹4751 cr	7.1%	13.0%	0.1x
2025-03	60.5x	₹4751 cr	7.1%	13.0%	0.1x
2025-02	64.5x	₹4689 cr	7.4%	13.0%	0.1x
2025-01	74.9x	₹4689 cr	7.4%	13.0%	0.1x
2024-12	82.1x	₹4689 cr	7.4%	13.0%	0.1x
2024-11	72.4x	₹4684 cr	8.4%	13.0%	0.1x
2024-10	82.2x	₹4684 cr	8.4%	13.0%	0.1x
2024-09	91.7x	₹4684 cr	8.4%	13.0%	0.1x
2024-08	84.3x	₹4639 cr	9.1%	13.0%	0.1x
2024-07	87.8x	₹4639 cr	9.1%	13.0%	0.1x
2024-06	92.9x	₹4639 cr	9.1%	13.0%	0.1x
2024-05	49.1x	₹4889 cr	11.3%	18.0%	0.1x
2024-04	50.4x	₹4889 cr	11.3%	18.0%	0.1x
2024-03	48.3x	₹4889 cr	11.3%	18.0%	0.1x
2024-02	53.0x	₹4889 cr	11.3%	18.0%	0.1x
2024-01	55.8x	₹4889 cr	11.3%	18.0%	0.1x
2023-12	52.6x	₹4889 cr	11.3%	18.0%	0.1x
2023-11	53.0x	₹4889 cr	11.3%	18.0%	0.1x
2023-10	54.3x	₹4889 cr	11.3%	18.0%	0.1x
2023-09	58.7x	₹4889 cr	11.3%	18.0%	0.1x
2023-08	41.5x	₹4889 cr	11.3%	18.0%	0.1x
2023-07	45.1x	₹4889 cr	11.3%	18.0%	0.1x
2023-06	45.4x	₹4889 cr	11.3%	18.0%	0.1x
2023-05	68.5x	₹4811 cr	7.2%	12.0%	0.1x
2023-04	65.8x	₹4811 cr	7.2%	12.0%	0.1x
2023-03	63.0x	₹4811 cr	7.2%	12.0%	0.1x
2023-02	65.4x	₹4811 cr	7.2%	12.0%	0.1x
2023-01	64.4x	₹4811 cr	7.2%	12.0%	0.1x
2022-12	72.8x	₹4811 cr	7.2%	12.0%	0.1x
2022-11	66.7x	₹4811 cr	7.2%	12.0%	0.1x
2022-10	70.1x	₹4811 cr	7.2%	12.0%	0.1x
2022-09	72.1x	₹4811 cr	7.2%	12.0%	0.1x
2022-08	73.9x	₹4811 cr	7.2%	12.0%	0.1x
2022-07	67.9x	₹4811 cr	7.2%	12.0%	0.1x
2022-06	61.4x	₹4811 cr	7.2%	12.0%	0.1x
2022-05	39.9x	₹4584 cr	12.0%	12.0%	0.3x
2022-04	44.2x	₹4584 cr	12.0%	12.0%	0.3x
2022-03	43.3x	₹4584 cr	12.0%	12.0%	0.3x
2022-02	46.2x	₹4584 cr	12.0%	12.0%	0.3x
2022-01	48.2x	₹4584 cr	12.0%	12.0%	0.3x
2021-12	51.8x	₹4584 cr	12.0%	12.0%	0.3x
2021-11	43.3x	₹4584 cr	12.0%	12.0%	0.3x
2021-10	44.6x	₹4584 cr	12.0%	12.0%	0.3x
2021-09	52.6x	₹4584 cr	12.0%	12.0%	0.3x
2021-08	48.9x	₹4584 cr	12.0%	12.0%	0.3x
2021-07	46.5x	₹4584 cr	12.0%	12.0%	0.3x
2021-06	41.4x	₹4584 cr	12.0%	12.0%	0.3x
2021-05	—	₹4985 cr	-0.7%	7.0%	0.8x
2021-04	—	₹4985 cr	-0.7%	7.0%	0.8x
2021-03	—	₹4985 cr	-0.7%	7.0%	0.8x
2021-02	—	₹4985 cr	-0.7%	7.0%	0.8x
2021-01	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-12	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-11	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-10	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-09	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-08	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-07	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-06	—	₹4985 cr	-0.7%	7.0%	0.8x
2020-05	17.7x	₹6662 cr	14.6%	17.0%	1.5x
2020-04	16.6x	₹6662 cr	14.6%	17.0%	1.5x
2020-03	13.1x	₹6662 cr	14.6%	17.0%	1.5x
2020-02	19.7x	₹6662 cr	14.6%	17.0%	1.5x
2020-01	17.8x	₹6662 cr	14.6%	17.0%	1.5x
2019-12	17.0x	₹6662 cr	14.6%	17.0%	1.5x
2019-11	16.2x	₹6662 cr	14.6%	17.0%	1.5x
2019-10	18.0x	₹6662 cr	14.6%	17.0%	1.5x
2019-09	18.6x	₹6662 cr	14.6%	17.0%	1.5x
2019-08	18.7x	₹6662 cr	14.6%	17.0%	1.5x
2019-07	17.3x	₹6662 cr	14.6%	17.0%	1.5x
2019-06	25.2x	₹6662 cr	14.6%	17.0%	1.5x
2019-05	47.6x	₹4697 cr	9.0%	19.0%	0.8x
2019-04	50.6x	₹4697 cr	9.0%	19.0%	0.8x
2019-03	49.4x	₹4697 cr	9.0%	19.0%	0.8x
2019-02	40.1x	₹4697 cr	9.0%	19.0%	0.8x
2019-01	40.6x	₹4697 cr	9.0%	19.0%	0.8x

Methodology and data notes