BAJAJ Bajaj Electricals Lid. bespiring Trust L1/812/MGP August 12, 2016 To. Corporate Relations Department Corporate Listing Department BSE Limited National Stock Exchange of India Limited 1 Floor, New Trading Ring Rotunda Building, PJ Tower, Datal Street, Mumbai 400 001 Email: corp.relations@bseindia.com Fax No.: 22723121 / 22722061 Exchange Plaza, 5° Floor, Plot No.C-1, G Block, Bandre-Kurla Complex, Bandra East, Mumbai 400 054 Email: cmiist@nse.co.in Fax No.: 26598237 / 38 or 26598347 / 48 BSE Code: 500031 NSE Symbol: BAJAJELEC — Series: EQ Dear Sirs, ‘Sub: Unaudited Financial Results for the first quarter ended on 30 June 2016 Re: Meeting of the Board of Directors held on 12 August 2016 [Meeting Commencement time- 11:30 A.M.; Meeting Conclusion time- |2:5e P.M.] Further to our letter No.L-1/722/MGP dated 22 July 2016 and pursuant to Regulations 30 (read with Part A of Schedule III) and 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith, in the prescribed format, the Unaudited Financial Results of the Company for the for the first quarter ended on 30 June 2016, as reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective Meetings held today i.e. on 12 August 2016, along with Limited Review Report thereon given by the Statutory Auditors. We hope you will find the same in order. Thanking you, Yours faithfully, For Bajaj Electricals Limited AEE Mangesh Patil EVP ~ Legal & Taxation and Company Secretary Encl.: as above Mulla House, $1 Mahatma Ganchy Road, Mumba! 400 001, Tet +91.22.6149 7000, 6149 7090 | Fax «01.22.2285 2179 Rogd. Offce: 45/47, Veer Nariman load, Mumbai 400 001. Indie | www bazielecticass.com mal: legal@baajelectrcats.com | CIN = L31SCOM938°L.CO00887Bajaj Electricals Ltd, ‘cm : LolsooMMsasPLcoogss7 Registered Olfice: 45/47, Veer Nariman Road, Mumbai -400 001 Phone: 022-22043780 Fax:022-22651279 Website : htp://www.bajajelectricals.com Email: legal@bajajelectricals.com ‘UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 90th JUNE, 2016 (Rs. ta Lacs) (parr Quarter eaded | Quarter ended 22 | ree (s0-suN-2016) | (30-Jun-2015) (Waandited and | (Unaudited aad Reviewed) Reviewed) 1 [income Rom operations (a) Gross Sales 95,588 100,208 |) Oser operating income 338. 342, (Total income from operations 35336 100,546 2 [Expenses a) Cost of materials consumed 3.631 5,040 fe) Purchase of stock-in-trade 57,698 67441 (¢ Changes in inventories of finished goods, work-in-progress and stocicin-trade Algal ‘ee (@) Brection & Subcontracting Expenses 5,606 4.346 \e} Excise Daty Paid 759 13 (0 Employee benests expense 7856 8,770 \) Depreciation and amortisation 667 "700 (2) Other expenses 13.278 12,349 [Total expenses 90,963 95,715 ® [Profit / (Loss rom operations before other income, Snance costs and exceptional items (2 - 2) 4,978 4991 4 lomer Income 979 1186, 5 {Profit / (Loss) before Sinance costs and exceptional items a+) 5,952 6017 6 |Finance costs 2,280 2841 7 [Profi / (Loss) before exceptional items (5 -6) 3,672 98,476 8 [Exceptional items. : . 8 [Prost / (Less) before tax (7 +/-8) 3,672 3.476 10|rax expense 1,385 1,493 11 |Nee Profi / (Loss) for the period (9 +/- 10) 2287 2,083 12 |other comprehensive income, net of income tax |. tems that wil not be reclassified to profit or lose 7 73 [B: Rems that wil be reclassified to prodt or lous [Total other comprehensive income, net of income tax 7 7 19) Total comprehensive income forthe period (11 +/- 12) [——~aaaret i370. 1 |Paid-up equity share capital Face value of Rs. 2/- per share) 2,021 2,016 28 Barnings per share (of Rs 2/- each] (aot annualised) (a) Basie 2.27 2.03 (0) Diluted 2.26 2.02 ‘See accompanying note to the nancial resultsTe Sr] Lala = 2) The Company adopted Indian Accounting Standards (nd AS" from April 3, 2016 forthe first time with transiion date Aral 1, 2018 and accordingly these financial resuts have been prepared in accordance with the recognition ead ‘easurement principles in Ind AS 24 Interim Financial Reporting prescribed under Section 138 of the Companies Ace, 2013 ‘rad mith the Companics (Indian Accounting Standard) Rules, 2015 and other zecognised accounting practices and paiie| to the extent applicable, Accordingly, figures for previous period are re-casted/regrouped as per new requirements wneteve| necessary. J? Reconiiaon benrcn nancial results ax previously reported and refered to as “Previous GAAP" or the quarter ended uune 30, 2015 and restated as per Ind AS is as under ‘Quarter ended [Description Note Reference | (30-JUN-2015) Waaudited and Reviewed) [Net profit or foas as per Previous GAAP (indian GAA) 2,084 |Add/Less : increase / (decrease) in Net Profit as reported under Indian GAAP Impact due to fai value recognition of construction revenue a (ss - Net Finance income on financial instruments due to unwinding of interest B 369, ¢ Rinancial instruments held at fair value through profit or loss and amsostced cost c 151 _ Employee compensation expenses for SSOP options D (106) | Actuariat gains and tosses on defined benefit plans moved to Other Comprehensive Income EB 106 |- Others including deferred taxes F 46 let profit /ioss as per Ind AS 208s [Other comprehensive income, net of income tar S 73) [Total comprehensive income for the period 1370 1) cGjucment co tho eeacton revenue isto be recogned at th fair value of consideration recived or recelrable, Tel ‘adjustment to the revenuc is because of retention revenue being recognised af resem veneet >) Net finance income includes unwinding of interest on various financial ietramenta, which iciudes lease deposits, long term| ‘his expense is recorded inthe proft and loss account under the head Bmployee Benefit Expenses, “Aetatil gins and loses on dened benefit plans have ben recorded in Other Comprehensive Income (OCT. 7 Other adjustments inchdes reversal of depreciation forthe Non Current Asset held or Sale and. adjustments to borrowing costs to be accounted as per “Indian Accounting Standard ind AS 23) - Borrowing Cots ©) Otter Comprehensive income includes actuarial gains and losses on defined benefit plas (net of ax) is)[#1 The 1000 Secured Rated Listed Redeemable Non-Convertible Debentures [NCDs) of Rs. 10,00,000/- each, issued by the| Gompany on private placement basis in FY 2013-14, aggregating to Rs.100 crores, in two series, Series ~ 1'of 400 NCDs ‘Series = 2 of 600 NCDs, listed on National Stock Exchange of India Limited (NSE) under ISIN INEI9G207014" snd] ‘INB189E07022, respectively, are secured by (i the first and exclusive charge oer Company's some of the Office Premises ai Delhi & Sion, Mumbai; and (i) frst charge on Show Room & Office premises at Bajaj Bhavan, Mumbai and Factory Premives| at Ranjangaon & Chakan. The security cover maintained is in accordance with the terms of ‘esue of NCDs and the asseto af the Company which are available by way of security are sullicient to discharge the claims of the debenture holders eo and| iin they become dic. As on 30 June 2016, the Assct Cover Ratio of the Company was 1.84 times. Further, out of the sai NODs, Series — I NCDs were redeemed on 28 April 2016, the due date of their redemption, whereas, Series 2 NCDs ant aue| for redemption on 24 April 2017. [9 the Company nad subscribed 12 100,00,000, 9% Non-Converuble Cumulative Redsernable Pefence Shares of Re 430/-| ach of Starte Lighting Limited, aggregating to Rs. 1000 Lacs, redeemable in 3 equal tranches at the end of Bt, 9th & loc ‘Year from the date of allotment on June 5 2008, Accordingly, the fist tranche ofthe said debemturea waa due for redesptcn| on June 5, 2016. The Company has received the redemption proceeds ofthe face value ofthese debenture amwuntre & he 1899.33 lacs on July 30, 2016, however, the accrued dividend thereen amouinting to Rs 240 lacs is in arsoare, 19) During the quarter, the Company has issued and allotted 101,100 Equity shares of Rs.2 each, pursuant to exercise of stock| ‘options by eligible employees and said shares are ranking pari-passu in all respects including dividend entidemect Qu Thursday, Auguste 11, 2016, the last trading day before the grant ofthese options. The options wil vest in four taneher| Detween August 12, 2017 and August 12, 2020, The options may be exercised within tree years from the date of este [S| Pursuant to the option made available under Regulation 348) of the SEBI (sting Obligations and Disclosure Requirement ‘Regulations, 2015, the Company has opted to submit consolidated financial results on yearly baste, ©) The Company has opted to publish Extracts of the Unaudited Financial Results, pursuant to option made available as pee ‘ulation 98 ofthe SEBI (Listing Obligation and Disclosure Requirements] Regulation, 2015, The fll format ofthe Guastesy| Financial Results are available on the stock exchange websites, www:nseindia.com and www bseindia.com and on ee Company's website wiew.bajajelectricals.com. 9 Previous period yea figures have been regrouped wherever necessary to conform tothe eurent period's presentation, 11) Above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 124h| ‘Aumust 2016 and subjected toa limited review by the stafitory auditors as indicated above, By Order of the Board of Directors) ‘for Bajaj Electricals Limited) on | Mumbai ‘Shekhar Baja [Date : 12th August 2016 (Chairman and Managing Director}[BAJAS ELECTRICALS LTD. ‘CIN : La1500MaH1938eLC00S8S7 Registered Oifice: 45/47, Veer Nariman Road, Mumbai -400 001, Phone: 022-22043780 Fax:022-22851279 ‘Website : nttp:/ www. bajaelectricals.com Email legal@bejajelectricals.com 'SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED ‘UNAUDITED FINANCIAL RESULTS FOR THE QUARTER 80th JUNE, 2016 (Re, in Lacs) ‘Quarter Ended Fi BoTua16 | _30Sa is Particulars Ko. (Unaudited and | (Uaaudited and Reviewed) | Reviewed) a|spomewr REVENUE 9) Consumer Products 54,778 59,204 Ip) EPC 41144 41,290 Ic) Others 14 12 Inet Sales / Income from Operations 95,936 100,546 a|SPGMENT PROFIT BEFORE TAX & FINANCE COST |a) Consumer Products 2816 3228 1B) BPC. 3,087 298 (c) Otners a a |sub-Total (A+B+C) 5,596 5,616 less JA) Finance Cost 2,280 2541 Ib) Other un-allocable expendicure net of unallocable income (esa) (03) loperating Profit before Tax 3672 3476 | CAPITAL EMPLOYED Segment Assets JA) Consumer Products 70.927 73,468 1B) Bec 178,789 163,966 lc) Otners al 347 1D| Other Unallocable 31,424 38.675 |sumretat 281,451 276,486 Segment Liability |a) Consumer Products 29,147 36,200 By eee 76,788 70,286 c) Otners > 7 1p) Other Unatlocable 8,400 4248 lsubrotat 114,395, 110,702 |capital Employed |) Consumer Products 41,780 97,268 ey EPC 102,001 93,710 o) otners aa sit 347 1) Other Unallocable 23,028 34,429 167,116 165.754sj Electricals Utd. 500M H1938PLC009887 aw Registored Office: Phone: 0224 2043780 Fax022-22851279 5/47, Veer Nariman Road, Mumbai 400 001, ‘Website http://www bojajletricalcom Email: egal@bajojelectricals.com Extract of Unaudited Financial Results forthe Quarter ended 30th June 2015 Rsintacs uarerended | Quorterended 30.06.2016 30.06.2015 st.no. PARTICULARS (Weauditedand | (Unaudited and Reviewed) Reviewed) 7] Total ncame From operations 56 ToO586 ett fre pact dor Teena lr araoctny sar ne het Prof / (Loss forthe period before Tax (after Exceptional and/or 3 extraordinary items) a ae het Prof / (Lose for the pried after Tax (ater Exceptional and/or «ftxtraerdinary items) a 208 ota Comrehensive income forthe period (Comprising Profit/tos) forthe 2210 1970 s|perod fatter tax) ane ther Comprehensive Income (After Tax) fps up Equity share capital 2023 2016 7}earsings Per Share (ofs.2/- each) (for Continuing & Discontinued operations) basic: 227 203 Divtes: 226 202 ‘Te above information haz been extracted from the detalled Quarterly Financial Results which have been reviewed by the Audit Commitee, approved by the Board of cicectrs, subjected to a limited review by the statutory aucitors ang filed withthe Stock ‘Exchanges under Regulation 33 of the SEB! (Ustng Obligations and Disclosure Requirements) Regulations, 2035. The full format of the (Quarterly Financial Results ave available on the stock exchange websites, wiew.nsendia.com and vrw.bseindia.com and on the ‘Company's website wuwbajajelectrcals.com, oma Date: 12th August 2016 By order ofthe Board of Oiectors for 822) Electricals i. a Shekhar Bas} Chairman & Managing DirectorDalal & Shah LLP Chartered Accountants ‘The Board of Directors Bajaj Electricals Limited 145-47, Veer Nariman Road, ‘Mumbai - 400001 4, Weave reviewed the unaudited financial results of Bajaj Electricals Limited (the “Company”) for the quarter ended June 30, 2016 which are included in the accompanying Unaudited Financial Results for the quarter ended 30% June, 2016" together with the notes thereon (the “Statement"). ‘The Statement has ‘been prepared by the Company pursuant to Regulation 33 af the Securities and Exchange Board of India (Listing Obtigations and Disclosure Requirements) Regulations, 2035 (the “Listing Regulations, 2015"), ‘which has been initalled by us for identification purposes. The Statement isthe responsibility of the ‘Company's management and has been approved by the Board of Directors, Further, the Management is also responsible to ensure that the accounting policies used in preparation ofthis Statement are consistent with those used in the preparation of the Company's opening unaudited Balance Sheet as at March gr, 2015 prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2035 (nd AS) prescribed under Section 1g3 of the Companies Act, 2013 and other recognised accounting practices and policies. Our responsibility isto issue a report on the Statement based on our review. 2, We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 3 Areview is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and ‘accordingly, we do not express an audit opinion, Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with Ind AS and other recognised accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation ag of the Listing Regulations, 2015 including the manner in which it is to ‘be disclosed, or that it eontains any material misstatement. ‘We draw attention tothe following matters: Notes to the Statement which states that the Company has adopted Ind AS for the financial year commencing from April 1,2016, and accordingly, the Statement has been prepared by ‘the Company's Management in compliance with Ind AS, b, The SEBI vide circular no. CIR/CFD/FAC/62/2036 dated July 5, 2016 has issued the revised format for financial results to be submitted by listed entities complying with Ind AS, The circular states that for the quarter ending June 30, 2036, submission of Ind-AS compliant financial results for the preceding quarter and previous year ended Mareh 33, 2036 is not, mandatory. The company has availed ofthe said exemption. Our conclusion is not qualified im respect ofthese matters For Dalal & Shah LLP FRN; 102021W/Wioo110 ee = ipin R. Bansal Mumbai Partner ‘August 12, 2036 Membership Number: 11753 ¢ Dalal & Shak LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028 T: +91 (22) 66691500, F: 91 (22) 66547804 / 07 Regret tee nt Meat otc 282 Ver Savana Mag, Si Pan Dose (est ena 0028, Perri nth LP ey: LPINAAT 866) tac tom Decanter 2,205 ‘et shh Perso Fe arvana Daa Shan LP a ins diy : : ‘ foie chi vogerton mmr blr conoon wae a0) os comareno Salsa (Pec region mae Cs