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About Bajaj Electricals 6 CIN: L31500MH1938PLC009887 Harsh Vardhan Goenka Our Business Model 8 Corporate Office Review of Our Businesses 10 Madhur Bajaj I

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About Bajaj Electricals 6 CIN: L31500MH1938PLC009887 Harsh Vardhan Goenka Our Business Model 8 Corporate Office Review of Our Businesses 10 Madhur Bajaj I BUILDING THE FUTURE. PRESERVING LEGACY. 80th Annual Report 2018-19 Bajaj Electricals Limited Consumer Products EPC - Illumination BUILDING THE FUTURE. PRESERVING LEGACY. EPC - Power Transmission & Distribution 80th Annual Report 2018-19 Bajaj Electricals Limited Corporate Information Board of Directors Debenture Trustee Contents Shekhar Bajaj Axis Trustee Services Ltd. Chairman & Managing Director Registered Office Corporate Overview Anuj Poddar 45/47, Veer Nariman Road, About Bajaj Group 4 Mumbai - 400 001 Executive Director About Bajaj Electricals 6 CIN: L31500MH1938PLC009887 Harsh Vardhan Goenka Our Business Model 8 Corporate Office Review of Our Businesses 10 Madhur Bajaj i. 001, 502, 701 & 801, Rustomjee Chairman’s Communique 12 Dr. Indu Shahani Aspiree, Off Eastern Express Financial Review 15 Dr. Rajendra Prasad Singh Highway, Bhanu Shankar Yagnik Board of Directors 16 Marg, Sion (E), Mumbai - 400 022 Touching Lives 18 Siddharth Mehta New Product Launches 20 ii. 51, Mulla House, M. G. Road, Fort, Pooja Bajaj Mumbai 400 001 Awards & Accolades 23 (w.e.f. 1st November, 2018) Munish Khetrapal Factories Statutory Reports (w.e.f. 1st November, 2018) Chakan Unit, Ranjangaon Unit Notice 25 & Wind Farm Unit Rajiv Bajaj Directors’ Report 49 (w.e.f. 22nd May, 2019) Branches Report on Corporate Governance 85 Company Secretary Ahmedabad, Bengaluru, Bhubaneshwar, Chandigarh, Chennai, Management Discussion Mangesh Patil Kochi, Delhi, Guwahati, Hyderabad, and Analysis 118 Auditors Indore, Jaipur, Kolkata, Lucknow, Statutory Reports (Hindi) 138 S R B C & Co. LLP, Mumbai, Nagpur, Noida, Patna, Chartered Accountants Puducherry, Pune, Raipur Financial Statements Secretarial Auditor Depots Standalone Dehradun, Goa, Kundli, Parwanoo, Anant B. Khamankar & Co., Independent Ranchi, Vijayawada & Zirakhpur Practicing Company Secretaries Auditors’ Report 173 Cost Auditor Central Warehouses Standalone Financial Statements 182 R. Nanabhoy & Co., Cost Accountants Banur, Daman, Mumbai & Vapi Consolidated Bankers Regional Distribution Centres State Bank of India, Bank of India, Bengaluru, Delhi & Kolkata Independent Union Bank of India, Yes Bank Ltd., Auditors’ Report 264 Overseas Representative / IDBI Bank Ltd., HDFC Bank Ltd., Consolidated Financial Liaison Offices ICICI Bank Ltd., IndusInd Bank Ltd. Statements 272 China, Dubai, Zambia, Kenya & Togo Annual General Meeting On Wednesday, 7th August, 2019 at 12.30 p.m. at Kamalnayan Bajaj Hall, Bajaj Bhawan, Jamnalal Bajaj Marg, Nariman Point, Mumbai - 400 021, Maharashtra. Members are requested to bring their copy of the Annual Report to the meeting. Eight glorious decades! That’s how long Bajaj Electricals has been dedicatedly working towards innovations that simplify human life, while staying true to its core values. We are the oldest company in Peeking into the cosmos of Bajaj our industry and the secret to our Electricals, one can witness the stability and consistent growth is genesis of a monumental and our unwavering commitment to evolutionary journey on which, we preserve our legacy and ethics while have embarked as an organisation consistently evolving ourselves to that works for today and tomorrow. stay relevant with changing times. And as we build the future driven by We cater to several segments and innovation, we remain committed to our biggest asset has always been preserving our legacy and values that the years of trust that our consumers continue to inspire us. repose in us. About Bajaj Group Present across various One of the oldest business industries, namely: groups in the country, with over nine decades of experience, Bajaj group has emerged as a diversified conglomerate with Home Appliances Fans business operations spread across various sectors including Automobiles (2 and 3 wheelers), Lighting EPC - Home Appliances, Fans, Lighting, Illumination Illumination, Power Transmission, Power Distribution, Iron & Steel, Insurance, Financial Services and Travel. Founded by late EPC - Power Automobiles Transmission & (2 & 3 Wheelers) Shri Jamnalal Bajaj with a Distribution motive to cater to the diverse needs of people and contribute towards upliftment of the society, Insurance Financial Bajaj today has emerged as Services a recognised name in every household. Iron and Travel Steel 4 Corporate Overview Statutory Reports Financial Statements About Bajaj Group 33 Group Companies H 650 billion Group turnover as of March 2018* (*Source: Article of Business Today dated 27th Jan, 2019) 5 About Bajaj Electricals An integral part of the Bajaj Group, Bajaj Electricals is amongst the most trusted and respected companies in India with a legacy spanning across eight decades. Vision: Enhancing quality of life and bringing happiness with Bajaj Electricals is one of the sustainability. leading Consumer Products and EPC companies in India. With a business portfolio that spans across myriad verticals – right from Consumer Products (Appliances, Fans, Lighting) to EPC (Illumination, Power Transmission and Power Distribution), Values : we also have a strong presence in premium home appliance and cookware segments, with brands like Integrity Team Work Morphy Richards and Nirlep. Having complete integrity Believing in ‘One for all and all We have an expansive network of alignment in what we feel, what we for One’ thereby working together 20 branch offices, 478 distributors speak and what we do, thereby to exceed our expectations and more than 200000 retail outlets demonstrating honesty and having in achieving organisational fortifying our dominant presence strong moral principles. objectives. in consumer product segment. Our employee strength of over 3000 people and a dedicated consumer Empowerment Customer Delight care team spread across more than Creating conditions and enabling Proactively anticipating internal 500 consumer care centres in India people to take responsibility for and external customer needs showcases the Company’s ethos of enhanced contribution towards and relentlessly working towards putting customer first and thereby personal and organisational exceeding their expectations. strengthening brand loyalty quotient. objectives. Our EPC segment gained momentum with a strong order book and expanding presence across Innovation Trust international countries with offices in To continuously explore, develop, Having firm belief in the reliability, Africa, the Middle East and China. create and implement new technology, truth and ability of all associates processes, ideas and products. and company processes. 6 Corporate Overview Statutory Reports Financial Statements About Bajaj Electricals Our business segments Bajaj Electricals in in FY 2018-19 numbers Consumer Products (up by H 6,673.14 crore 41.49% Revenue from FY 2017-18) H 2,740.76 crore Revenue Appliances, Fans, (up by Consumer Lighting H 413.78 crore 19.37% EBIDTA from FY 2017-18) (up by H 167.07 crore 99.79% PAT from FY 2017-18) (up by 15.50% 75.13% RoE from FY 2017-18) EPC H 5,714.92 crore (down by Market Capitalisation H 3,931.88 crore 0.71% from Revenue as on March 31, 2019 March 31, 2018) Illumination, Power Transmission and Power Distribution 62.71% Promoter holding as on March 31, 2019 3,217 Number of employees as on March 31, 2019 Exports H 91.70 crore Revenue 7 Our Business Model – the basis of our operational efficiency We strive to develop innovative Research and and effective solutions for our Development customers. In order to cater to the diverse needs of our consumers, we offer a wide range of quality consumer products. Product Portfolio Our EPC business provides a wide range of end-to-end solutions across Illumination, Power Transmission and Power Distribution for our clients. Our manufacturing value chain Manufacturing strives to support our business Capabilities with high quality and efficient products. Our vast distribution network of Resources Key distributors and retailers enables us Distribution to make our products available to consumers across the country. We strive to build a brand that is known to offer innovative and quality Brand products that meets the requirement of the consumers in domestic as well as international markets. We employ the best and passionate Human Resource people to achieve our vision. 8 Corporate Overview Statutory Reports Financial Statements Our Business Model – the basis of our operational efficiency Consumer Products Return on Investment Wide range of electrical Leveraging our business strategies to appliances, fans and generate highest possible return on lighting designed to Investment. meet ever growing consumer needs. Community Development We work towards upliftment of the society in which we operate through our various corporate social responsibility initiatives. EPC Resource Optimisation Through this segment we We continuously try to reduce our cater to everything under footprints on the environment by the spectrum of Illumination using alternate sources of energy projects, Power Transmission and maintaining the quality of soil, and Power Distribution. air and water. Value created Value Safety Culture Safety, at Bajaj, has always been Exports a key priority. We provide our Bajaj Electricals employees with a safe working place continues to diversify in all parts of our operations. its geographical footprints in the Consumer Products & Shareholder Value EPC segments. We create value for our shareholders by efficient utilisation of capital resources. 9 Review of Our Businesses Consumer Products 72 Products launched in different markets across the country 478 Exclusive distributor network
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