KYC is one time exercise with a SEBI registered intermediary while dealing in securities markets (Broker/ DP/ Mutual Fund etc.). | No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.   |   Prevent unauthorized transactions in your account – Update your mobile numbers / email ids with your stock brokers. Receive information of your transactions directly from exchange on your mobile / email at the EOD | Filing Complaint on SCORES - QUICK & EASY a) Register on SCORES b) Mandatory details for filing complaints on SCORE - Name, PAN, Email, Address and Mob. no. c) Benefits - speedy redressal & Effective communication   |   BSE Prices delayed by 5 minutes... << Prices as on Jul 25, 2025 >>  ABB India 5645.7  [ -0.97% ]  ACC 1847.65  [ -2.27% ]  Ambuja Cements 613.35  [ -1.10% ]  Asian Paints Ltd. 2335.65  [ -0.70% ]  Axis Bank Ltd. 1086.9  [ -0.76% ]  Bajaj Auto 8064.05  [ -2.70% ]  Bank of Baroda 243.45  [ -1.36% ]  Bharti Airtel 1937.6  [ 0.05% ]  Bharat Heavy Ele 240.15  [ -4.28% ]  Bharat Petroleum 332.8  [ -2.55% ]  Britannia Ind. 5593.4  [ -1.45% ]  Cipla 1531.1  [ 2.95% ]  Coal India 380.85  [ -1.19% ]  Colgate Palm. 2215.1  [ -1.98% ]  Dabur India 511.25  [ -0.27% ]  DLF Ltd. 825.7  [ -0.39% ]  Dr. Reddy's Labs 1277.6  [ 1.01% ]  GAIL (India) 183.55  [ -2.32% ]  Grasim Inds. 2708.45  [ -0.88% ]  HCL Technologies 1489.9  [ -1.13% ]  HDFC Bank 2004.5  [ -0.47% ]  Hero MotoCorp 4229.35  [ -1.68% ]  Hindustan Unilever L 2415.1  [ -0.89% ]  Hindalco Indus. 692.85  [ -0.52% ]  ICICI Bank 1476.6  [ -0.41% ]  Indian Hotels Co 745.65  [ -1.10% ]  IndusInd Bank 823.7  [ -2.78% ]  Infosys L 1515.6  [ -2.44% ]  ITC Ltd. 409.35  [ -0.16% ]  Jindal St & Pwr 999.9  [ 0.01% ]  Kotak Mahindra Bank 2124.95  [ -0.77% ]  L&T 3443.35  [ -1.00% ]  Lupin Ltd. 1950.95  [ 0.39% ]  Mahi. & Mahi 3246.5  [ -0.43% ]  Maruti Suzuki India 12400.25  [ -1.23% ]  MTNL 47.54  [ -3.75% ]  Nestle India 2275  [ -1.95% ]  NIIT Ltd. 120.05  [ -0.46% ]  NMDC Ltd. 71.65  [ -1.46% ]  NTPC 333.25  [ -1.65% ]  ONGC 240.2  [ -1.88% ]  Punj. NationlBak 108.35  [ -2.08% ]  Power Grid Corpo 291.8  [ -2.49% ]  Reliance Inds. 1392.1  [ -0.75% ]  SBI 806.5  [ -1.15% ]  Vedanta 443.45  [ -1.77% ]  Shipping Corpn. 219  [ -1.66% ]  Sun Pharma. 1698.6  [ 0.38% ]  Tata Chemicals 942  [ -0.49% ]  Tata Consumer Produc 1054.65  [ -1.77% ]  Tata Motors 687.3  [ -1.90% ]  Tata Steel 161.4  [ -1.25% ]  Tata Power Co. 395.45  [ -1.29% ]  Tata Consultancy 3134.35  [ -0.50% ]  Tech Mahindra 1461.8  [ -2.44% ]  UltraTech Cement 12254.2  [ -0.36% ]  United Spirits 1309.4  [ -1.94% ]  Wipro 259.35  [ -0.97% ]  Zee Entertainment En 123.75  [ -4.29% ]  

Company Information

Indian Indices

  • Loading....

Global Indices

  • Loading....

Forex

  • Loading....

BAJAJ ELECTRICALS LTD.

25 July 2025 | 12:00

Industry >> Domestic Appliances

Select Another Company

ISIN No INE193E01025 BSE Code / NSE Code 500031 / BAJAJELEC Book Value (Rs.) 126.82 Face Value 2.00
Bookclosure 18/07/2025 52Week High 1038 EPS 11.57 P/E 55.54
Market Cap. 7410.48 Cr. 52Week Low 490 P/BV / Div Yield (%) 5.07 / 0.47 Market Lot 1.00
Security Type Other

AUDITOR'S REPORT

You can view full text of the latest Director's Report for the company.
Year End :2025-03 

We have audited the standalone financial statements of
Bajaj Electricals Limited ("the Company"), which comprise the
Balance sheet as at March 31, 2025, the Statement of Profit and
Loss, including the Statement of Other Comprehensive Income,
the Cash Flow Statement and the Statement of Changes in Equity
for the year then ended, and notes to the standalone financial
statements, including a summary of material accounting policies
and other explanatory information.

In our opinion and to the best of our information and according
to the explanations given to us, the aforesaid standalone financial
statements give the information required by the Companies Act,
2013, as amended ("the Act") in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company
as at March 31, 2025, its profit including other comprehensive
income, its cash flows and the changes in equity for the year
ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statements
in accordance with the Standards on Auditing (SAs), as specified
under section 143(10) of the Act. Our responsibilities under those
Standards are further described in the 'Auditor's Responsibilities
for the Audit of the standalone Financial Statements' section of our
report. We are independent of the Company in accordance with the

'Code of Ethics' issued by the Institute of Chartered Accountants
of India together with the ethical requirements that are relevant
to our audit of the financial statements under the provisions of
the Act and the Rules thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements
and the Code of Ethics. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for
our audit opinion on the standalone financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the standalone
financial statements for the financial year ended March 31, 2025.
These matters were addressed in the context of our audit of the
standalone financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on
these matters. For each matter below, our description of how our
audit addressed the matter is provided in that context.

We have determined the matters described below to be the key
audit matters to be communicated in our report. We have fulfilled
the responsibilities described in the 'Auditor's responsibilities
for the audit of the standalone financial statements' section of
our report, including in relation to these matters. Accordingly,
our audit included the performance of procedures designed to
respond to our assessment of the risks of material misstatement
of the standalone financial statements. The results of our audit
procedures, including the procedures performed to address the
matters below, provide the basis for our audit opinion on the
accompanying standalone financial statements.

Key audit matters

How our audit addressed the key audit matters

A. Timing of revenue recognition (Refer Notes 1B(3)(1) and 24 of the standalone financial statements)

Revenue from contracts with customers is recognised upon transfer

Audit procedures included the following:

of control of promised goods and is measured at the transaction
price of the consideration received or receivable, net of returns,
schemes and rebates, based on contractually defined terms.

Assessed the Company's revenue recognition policy and its
compliance in terms of Ind AS 115 'Revenue from contracts
with customers';

The timing of transfer of control in case of sales to distributors is
basis the terms of arrangements such as delivery specifications,
incoterms, ability of customers to return unsold goods which results

Assessed the design and tested the operating effectiveness of
internal financial controls related to timing of revenue recognition;

in risk regarding recognition of revenue in the appropriate period.

On a sample basis, we tested the underlying documents and

Considering the above factors and the risk around recognition

terms of arrangement to assess the appropriateness of timing of

of revenue in the correct period, it was determined to be a key

revenue recognition in accordance with Ind AS 115; and other;

audit matter in our audit of the standalone financial statements.

Performed analytical procedures on sales and sales return trend
including subsequent sales returns;

Tested manual journal entries posted to revenue to
identify unusual items;

B. Allowances for inventories (Refer note 1B(13) and 11 for disclosure of the accompanying standalone financial statements)

As at March 31, 2025, the carrying amount of inventories

Audit procedures included the following:

amounted to H 71,735.59 lakhs, after considering allowance for
aged and obsolete inventories of H 3,512.35 lakhs.

Read the Company's accounting policy for provisioning for
aged and obsolete inventories

Management applies judgement in determining the provision
for such aged and obsolete inventories based upon its detailed
analysis of old inventories using the ageing report of such
inventories, net realizable value, its physical condition, future
use and sales projections for the said inventories.

Obtained an understanding, evaluated the design and tested
the operating effectiveness of internal financial controls that
the Company has in relation to the identification of aged and
obsolete inventories and assessing the amount of allowance for
such inventories;

Key audit matters

How our audit addressed the key audit matters

The determination of saleability of such aged and obsolete
inventories requires management to rely on certain assumptions
and significant judgement.

Accordingly, the assessment of the provision for aged and
obsolete inventories has been considered as a key audit matter.

We performed audit procedures such as testing the inventory
ageing report, testing the reasonableness of sales projections
considered for future liquidation of the aged and obsolete
inventories and the realizable value of such inventories based
on historical sales data, orders in hand etc.

We also tested the appropriateness of the net realizable
value considered by management for the aged and obsolete
inventories by comparing the inventories value with the
subsequent sales prices of the finished goods/recently
realized prices

We observed the inventory count performed by management
for the year-end on a sample basis and assessed the physical
condition of the inventories segregated as aged and obsolete
inventories and compared the same with the inventories listing
to check completeness;

We analyzed the inventory turnaround and compared that to
management's estimates on aged and obsolete inventories;

We verified if the computation of inventory provisioning for such
aged and obsolete inventories is in line with Company's policy;

We assessed the adequacy and appropriateness of
the Company's disclosures in Note 1B(13) on material
accounting policy and Note 11 Inventories to the standalone
financial statements, as required by the applicable Indian
Accounting Standards.

C. Impairment testing of Goodwill (Refer Note 46 of the standalone financial statements)

As at March 31, 2025, the Company has carrying amount of
Goodwill of H 19,001.09 lakhs pertaining to Starlite Lighting
Limited and Nirlep Appliances Private Limited, wholly owned
subsidiaries which has been merged into the Company.

In accordance with the requirements of Ind AS 36 Impairment
of Assets, the Company performs an annual impairment
assessment of Goodwill and the corresponding cash generating
units to determine whether the recoverable value is below the
carrying amount as at March 31, 2025.

For this purpose, the recoverable value of the cash generating
unit is based on the value in use model, which has been derived
from the discounted cash flow model. The model requires the
Company to make significant assumptions such as discount
rate, near and long-term revenue growth rate and projected
margins which involves inherent uncertainty since they are
based on future business prospects and economic outlook.

Changes in certain methodologies and assumptions can lead to
significant changes in the assessment of the recoverable value.

Due to the level of judgments involved and its significance to the
Company's financial position, this is considered to be a key audit
matter.

Our audit procedures included the following:

• Obtained an understanding of the process followed by the
management to determine the recoverable amounts of cash
generating units determined by the Company;

• Evaluated the design and implementation and tested the
operating effectiveness of key internal controls related to
the Company's process relating to review of the annual
impairment analysis;

• Assessed Company's valuation methodology applied in
determining recoverable value including the reasonableness
of identification of cash generating units around the key
drivers (cash flow forecasts, discount rates, expected growth
rates, forecasted margins and terminal growth rates) based
on our knowledge of the Company and Industry. Compared
the historical accuracy by comparing past forecasts to actual
results achieved;

• Assessed the recoverable value headroom by performing
sensitivity testing of key assumptions used;

• Tested the arithmetical accuracy of the computation of
recoverable amounts of cash generating units;

Assessed the disclosures made in the standalone
financial statements.

Information Other than the Financial Statements and
Auditor's Report Thereon

The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Annual report, but does not include the standalone
financial statements and our auditor's report thereon.

Our opinion on the standalone financial statements does not
cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the standalone financial statements,
our responsibility is to read the other information and, in doing so,
consider whether such other information is materially inconsistent
with the financial statements or our knowledge obtained in the
audit or otherwise appears to be materially misstated. If, based on
the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.

Responsibilities of Management for the Standalone
Financial Statements

The Company's Board of Directors is responsible for the matters
stated in section 134(5) of the Act with respect to the preparation
of these standalone financial statements that give a true and fair
view of the financial position, financial performance including
other comprehensive income, cash flows and changes in equity
of the Company in accordance with the accounting principles
generally accepted in India, including the Indian Accounting
Standards (Ind AS) specified under section 133 of the Act read
with the Companies (Indian Accounting Standards) Rules, 2015, as
amended. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates
that are reasonable and prudent; and the design, implementation
and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of
the accounting records, relevant to the preparation and presentation
of the standalone financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is
responsible for assessing the Company's ability to continue as a
going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the
Company's financial reporting process.

Auditor's Responsibilities for the Audit of the standalone
Financial Statements

Our objectives are to obtain reasonable assurance about whether
the standalone financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high
level of assurance, but is not a guarantee that an audit conducted
in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of
users taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional skepticism throughout the
audit. We also:

• Identify and assess the risks of material misstatement of the
standalone financial statements, whether due to fraud or
error, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control.

• Obtain an understanding of internal control relevant to the
audit in order to design audit procedures that are appropriate
in the circumstances. Under section 143(3)0) of the Act, we
are also responsible for expressing our opinion on whether
the Company has adequate internal financial controls with
reference to financial statements in place and the operating
effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and related
disclosures made by management.

• Conclude on the appropriateness of management's use of
the going concern basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast
significant doubt on the Company's ability to continue as
a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor's
report to the related disclosures in the financial statements
or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events
or conditions may cause the Company to cease to continue
as a going concern.

• Evaluate the overall presentation, structure and content of the
standalone financial statements, including the disclosures,
and whether the standalone financial statements represent
the underlying transactions and events in a manner that
achieves fair presentation.

We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements
regarding independence, and to communicate with them
all relationships and other matters that may reasonably be
thought to bear on our independence, and where applicable,
related safeguards.

From the matters communicated with those charged with
governance, we determine those matters that were of most
significance in the audit of the standalone financial statements
for the financial year ended March 31, 2025 and are therefore
the key audit matters. We describe these matters in our auditor's
report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our
report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits
of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2020
("the Order"), issued by the Central Government of India in
terms of sub-section (11) of section 143 of the Act, we give
in the "
Annexure 1" a statement on the matters specified in
paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we report, to the
extent applicable, that:

(a) We have sought and obtained all the information and
explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit;

(b) In our opinion, proper books of account as required
by law have been kept by the Company so far as it
appears from our examination of those books except
for the matters stated in paragraph (i) and (vi) below on
reporting under Rule 11(g);

(c) The Standalone Balance Sheet, the Standalone
Statement of Profit and Loss including the Statement
of Other Comprehensive Income, the Standalone Cash
Flow Statement and Standalone Statement of Changes
in Equity dealt with by this Report are in agreement
with the books of account;

(d) In our opinion, the aforesaid standalone financial
statements comply with the Accounting Standards
specified under Section 133 of the Act, read with
Companies (Indian Accounting Standards) Rules,
2015, as amended;

(e) On the basis of the written representations received
from the directors as on March 31, 2025 taken on
record by the Board of Directors, none of the directors is
disqualified as on March 31, 2025 from being appointed
as a director in terms of Section 164 (2) of the Act;

(f) With respect to the adequacy of the internal financial
controls with reference to these standalone financial
statements and the operating effectiveness of such
controls, refer to our separate Report in "
Annexure 2"
to this report;

(g) In our opinion, the managerial remuneration for the
year ended March 31, 2025 has been paid / provided
by the Company to its directors in accordance with the
provisions of section 197 read with Schedule V to the Act;

(h) The modification relating to the maintenance of accounts
and other matters connected therewith are as stated in
paragraph (b) above on reporting under Section 143 (3)
(b) and paragraph (i) (vi) below reporting under Rule 11 (g).

(i) With respect to the other matters to be included in
the Auditor's Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, as
amended in our opinion and to the best of our information
and according to the explanations given to us:

i. The Company has disclosed the impact of
pending litigations on its financial position in its
standalone financial statements - Refer Note 40
to the standalone financial /statements;

ii. The Company did not have any long-term
contracts including derivative contracts for
which there were any material foreseeable losses;

iii. There has been no delay in transferring amounts,
required to be transferred, to the Investor
Education and Protection Fund by the Company

iv. a) The management has represented that,

to the best of its knowledge and belief,
no funds have been advanced or loaned
or invested (either from borrowed funds
or share premium or any other sources
or kind of funds) by the Company to or in
any other person(s) or entity(ies), including
foreign entities ("Intermediaries"), with
the understanding, whether recorded in
writing or otherwise, that the Intermediary
shall, whether, directly or indirectly lend or
invest in other persons or entities identified
in any manner whatsoever by or on behalf
of the Company ("Ultimate Beneficiaries")
or provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries;

b) The management has represented that,
to the best of its knowledge and belief, no
funds have been received by the Company
from any person(s) or entity(ies), including
foreign entities ("Funding Parties"), with
the understanding, whether recorded in
writing or otherwise, that the Company shall,
whether, directly or indirectly, lend or invest
in other persons or entities identified in any
manner whatsoever by or on behalf of the
Funding Party ("Ultimate Beneficiaries") or
provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries; and

c) Based on such audit procedures performed
that have been considered reasonable and
appropriate in the circumstances, nothing
has come to our notice that has caused
us to believe that the representations
under sub-clause (a) and (b) contain any
material misstatement.

v. As stated in note 16 to the standalone financial
statements, the final dividend paid by the
Company during the year in respect of the same
declared for the previous year is in accordance
with section 123 of the Act to the extent it applies
to payment of dividend. Further, the Board of
Directors of the Company have proposed final
dividend for the year which is subject to the
approval of the members at the ensuing Annual
General Meeting. The dividend declared is in
accordance with section 123 of the Act to the
extent it applies to declaration of dividend.

vi. Based on our examination which included test
checks, except for the instances discussed in note
48(11) to the standalone financial statements,
the Company has used accounting software
for maintaining its books of account including
privileged access management tool which has a
feature of recording audit trail (edit log) facility and
the same has operated throughout the year for all
relevant transactions recorded in the software
except that we are unable to comment on whether
certain features of the audit trail of the said software
has operated from the period September 8, 2024,
to February 11, 2025 or whether there were any
instances of audit trail feature being tampered
during the said period in the absence of log of
changes to certain audit features. Additionally, the
audit trail of prior year has been preserved by the
Company as per the statutory requirements for
record retention to the extent it was enabled and
recorded in the respective year.

For S R B C & CO LLP

Chartered Accountants

ICAI Firm Registration Number: 324982E/E300003

per Aruna Kumaraswamy

Partner

Membership No.: 219350

UDIN: 25219350BMMABC9520

Mumbai, May 12, 2025