Strictly Private and Confidential

Bajaj Electricals Limited

Corporate Presentation
November 2009
Disclaimer
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the content of this presentation, without obligation to notify any person.
3
Table of Contents
Strategic Business Units
Financials
Key Highlights
Bajaj Electricals An Overview
4
Legacy of the Bajaj Group
Shri. Jamanalal Bajaj
Bajaj Auto Group's flagship company is one of the world's leading 2 & 3 wheeler manufacturer
A brand well-known across Latin America, Africa, Middle East, South and South East Asia
The company is currently engaged in life insurance; general insurance and consumer finance businesses
It has plans to expand its business by offering a wide array of financial products and services in India
Deals in the financing of consumer durables, personal and small business loans, loan against property/shares
Achieved a disbursal of INR 24 bn (~USD 0.52 bn) in FY09 under its various financing schemes
General and Life Insurance Joint venture between Bajaj Finserv and Allianz SE (74:26 holding)
Assets under management of INR 22 bn (~USD 0.47 bn) as on 2008-09
Received the Business Leader in General Insurance award by NDTV Profit Business leadership in 2008
Mukand Ltd. is one of the leading manufacturers of alloy and stainless steel long products in India
The company also builds machines and plays an active role in turnkey projects and highway construction
Brief on select Bajaj group companies
One of the oldest business conglomerates in India
A group comprising of 25 companies
Turnover over INR 280 Billion (~USD 6 Billion, at INR 46 per USD)
Around 36,000 Employees
Headed by Mr. Rahul Bajaj, currently Member of Parliament and active leader in CII, WEF etc.
5
Bajaj Electricals Ltd. leader in the space with 7 decades of history
Business Overview
Headed by Shekhar Bajaj, Chairman and MD
Manufactures & Markets Appliances, Fans, Lighting and
Luminaires
Also has interests in Engineering & Projects, High Masts,
Turnkey Lighting Projects, Transmission Line Towers,
Rural Electrification and Wind Energy
Extensive manufacturing facilities all over India
Strengths in Logistics, Supply Chain, Distribution,
Sourcing Arrangement, Project execution, R&D and
Marketing
Commenced operations in Lahore
Company started marketing small appliances &
lighting products reserved for manufacturing by the
Small Scale Sector
1940-70
Amalgamated Matchwel Electrical Ltd which
manufactured fans, die-casting components and
magneto assembly
Company set up fan manufacturing unit at Chakan
Set up wind farm near Vankusewade near Satara
1971-99
2000-02 Set up High Mast and TLT manufacturing unit at
Ranjangoan near Pune
Tied up with Morphy Richards
Acquired 32% share holding in Starlite Lighting
Limited a CFL manufacturing unit
Evolution
Shareholding Pattern as on Sept 09
2007-09
Project Smile Implementation of ERP from Oracle
Crossed INR 18 billion turnover mark in 2008-09
2003-06
Mission Excell Change Management initiative
undertaken.
Successful Financial turnaround of the company
Rights Issue of Rs 108 mn in October 2003
Shifted vendor base to Himachal & Uttaranchal
73%
11%
16%
Promoter and
Promoter Group
Public Institutions
Public Non-
Institutions
6
Organization structure
Mr. Shekhar Bajaj
Chairman & Managing Director
Mr. R. Ramakrishnan
Executive Director
Appliances
SBU
Lighting
SBU
Luminaires
SBU
Customer
Care
Fans
SBU
Branch Sales
Support
IT
E & P
SBU
Corporate
Finance
Secretarial &
Legal
Internal
Audit
HR &
Admin
Mr. Anant Bajaj
Executive Director
Morphy
Richards
Advtg. & Brand
Development
7
Table of Contents
Strategic Business Units
Annexure: Financials Statements
Key Highlights
Bajaj Electricals An Overview
8
Strategic business units
Bajaj Fans Bajaj Engg & Projects
Bajaj Lightng
Bajaj Appliances
Bajaj Luminaires
FY09 Sales: INR 2,950 mn
As a % of total sales: 16%
FY09 Sales: INR 5,230 mn
As a % of total sales: 30%
FY09 Sales: INR 4,640 mn
As a % of total sales: 26%
FY09 Sales: INR 2,090 mn
As a % of total sales: 12%
FY09 Sales: INR 2,820 mn
As a % of total sales: 16%
9
SBU wise sales growth
6,490
8,440
10,770
13,730
17,700
FY05 FY06 FY07 FY08 FY09
(INR mn) FY05 FY06 FY07 FY08 FY09 GOLY CAGR
Total 6,490 8,440 10,770 13,730 17,700 29% 29%
Lighting 1,000 1,090 1,340 1,760 2,090 19% 20%
Luminaires 1,210 1,550 1,930 2,300 2,820 23% 24%
Appliances 1,410 1,940 2,600 3,630 4,640 28% 35%
Fans 1,090 1,410 1,850 2,410 2,920 21% 28%
Engg. & Proj. 1,780 2,450 3,050 3,630 5,230 44% 31%
Sales (INR mn)
6,763
8,801
11,146
14,046
18,007
FY05 FY06 FY07 FY08 FY09
10
Key Profit & Loss metrics
PAT (INR mn)
Gross Sales/Income from Operations (INR mn)
EBITDA (INR mn)
CAGR (FY05-09): 28%
429
692
869
1,432
1,798
FY05 FY06 FY07 FY08 FY09
CAGR (FY05-09): 48%
138
298
390
731
894
FY05 FY06 FY07 FY08 FY09
CAGR (FY05-09): 60%
Diversified revenue mix across high growth verticals
15%
13% 12% 13% 12%
19%
18% 18% 17%
16%
22%
23% 24% 26%
26%
17%
17% 17%
18%
17%
27%
29% 28%
26%
29%
FY05 FY06 FY07 FY08 FY09
Lighting Luminaires Fans Engg. & Proj.
11
Key Balance sheet metrics
Networth (INR mn)
Reducing debt-equity ratio
Return on Capital Employed
807
901
1,168
1,748
2,450
FY05 FY06 FY07 FY08 FY09
CAGR (FY05-09): 27%
2.1 2.1
2.0
1.4
0.9
FY05 FY06 FY07 FY08 FY09
9%
16%
17%
24%
26%
FY05 FY06 FY07 FY08 FY09
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Other important metrics
Market Capitalization (INR mn) and Share Price (INR) as on March, 31
st
1:1 Bonus during FY 08
15.80
32.63
44.58
42.31
51.69
42.31
51.69
FY05 FY06 FY07 FY08 FY09
Earning Per Share (INR)
C
A
G
R
:

6
0
%
Return on Equity
18%
36%
38%
50%
43%
FY05 FY06 FY07 FY08 FY09
13
5 year financial summary (INR mn)
Particulars FY 05 FY 06 FY 07 FY 08 FY 09
Gross Sales & Income from
operations
6,763 8,801 11,146 14,046 18,007
Net Sales 6,496 8,459 10,789 13,745 17,705
PBIDT 429 692 869 1432 1798
% Sales 6.60% 8.17% 8.06% 10.42% 10.16%
Interest 164 180 231 293 370
Depreciation 60 64 73 75 86
Operating profit 205 448 566 1064 1343
Other Income (Net) 13 22 43 50 57
PBT 218 470 609 1114 1400
% Sales 3.35% 5.55% 5.64% 8.11% 7.91%
PAT 138 298 390 731 894
% Sales 2.13% 3.53% 3.61% 5.32% 5.05%
14
Half-Yearly performance (INR mn)
Particulars
Financial Year
ended Mar 09
Half Year
ended Sept 08
Half Year
ended Sept 09
Growth over
Previous period
Net sales 17,705 6,969 8,775 25.92%
PBIDT 1,798 565 912 61.36%
% to sales 10.16% 8.11% 10.39%
Interest 370 178 171
Depreciation 86 39 46
Profit before tax 1,400 348 696 99.83%
% to sales 7.91% 5.00% 7.93%
Profit after tax 894 224 456 103.53%
% to sales 5.05% 3.21% 5.20%
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Table of Contents
Strategic Business Units
Annexure: Financials Statements
Key Highlights
Bajaj Electricals An Overview
16
17
Products:
Mixers Grinders, Juicers, Food Processors, Water Heaters,
Air Coolers, Iron, Ovens Toasters Grillers (OTG), Room
Heaters , Toasters & S/W makers, Hand Blenders, Water
Purifiers & Filters, Microwave Ovens, Gas stoves, Electric
Kettles, Coffee / Tea Makers
Competitors: Philips, Kenstar, Usha, Maharaja, Merloni,
Spherehot, Sumeet, CG, National, Black & Decker, Tefal,
Braun
Tie-ups:
Overview Products
18
APPLIANCES Total W. Heaters Mixers R. Coolers Irons Others
GOLY 28% 35% 28% 37% 18% 17%
CAGR (over 4
yrs.) 35% 45% 37% 31% 24% 30%
Sales Performance (INR mn)
1,410
1,940
2,600
3,630
4,640
40%
28%
34%
38%
22%
FY05 FY06 FY07 FY08 FY09
Total revenue % Growth
19
One of the leading players in small appliances market, especially in Mixers, Irons, OTG,
Water Heaters and Room Cooler
Wide Product Portfolio and highly trusted brand in the small appliances market

Business strategy
Introduction of new models in Mixers, Water Heaters, Iron & Coolers
Continue Network expansion and rural penetration
Improve presence in organized retail
Ensure success of PLATINI, Gas Appliances and New products such as Home Inverters, DVD players
Key industry growth drivers
Increase in purchasing power of Indian middle class and rapid urbanization
Sales in unorganized segment will shift to organized segment as prices reduce
Organised retail will improve shopping experience and brand presence
Key highlights
Strong distribution network with more than 25,000 retail outlets

20
Bajaj Platini Product Range
21
Morphy Richards Product Range
22
23
Products
Domestic-use: Ceiling, Table, Pedestal & Wall mounted
Fans, Personal Fans, Bajaj-Disney Childrens Fans
Industrial-use: Industrial Exhaust fans, Commercial Air
Circulators, Cooler kits and Pumps
Tie-ups
Overview Products
24
FANS Total Ceiling TPW
GOLY 22% 25% 9%
CAGR (over 4 yrs.) 28% 29% 23%
Sales Performance (INR mn)
1,090
1,410
1,850
2,410
2,950
30%
22%
31%
29%
10%
FY05 FY06 FY07 FY08 FY09
Total revenue % Growth
25
Tie up with Midea One of the leading fan manufacturing companies in the world
One of the leading players in fan industry with over 15% market share (source: IFMA)

One of the leading players in Premium segment

Key highlights
Business strategy
Introduction of new models in Premium/ Decorative and Under-Light fans, Fans decorated with more Disney
Characters, Remote controlled Fans
Focus on Pumps, Motors and Industrial fans
Expand dealer network, rural penetration and presence in institutional segment
Key industry growth drivers
Construction and housing industry revival
Replacement market will improve due to Consumer boom
With tax reforms, sales from unorganized segment will shift to organized segment as prices will be lower
26
27
Products
Lamps: GLS Lamps, Fluorescent tube lights,
Compact Fluorescent Lamps
Others: Domestic Luminaires, Ballasts & Starters,
LED Torches
Manufacturing facility:
Hind Lamps, Shikohabad and Starlite Lighting, Nashik
Overview
Products
28
LIGHTING Total CFL GLS&FTL Fittings
GOLY 19% 23% 10% 28%
CAGR (over 4 yrs.) 20% 61% 2% 21%
Sales Performance (INR mn)
1,000
1,090
1,340
1,760
2,090
31%
19%
4%
9%
23%
FY05 FY06 FY07 FY08 FY09
Total revenue % Growth
29
Key highlights
Business strategy
Network expansion and consolidation in Kirana segment, Modern Retail formats. Already covering more than
300,000 outlets
Focus on CFL since demand for GLS and FTL is not growing fast. Significant capacity expansion in Starlite Lighting
Motivate consumers to shift to energy saving lamps
Key industry growth drivers
High growth in CFL due to reduced prices and energy conservation drive at residential, commercial and
government level
Greater focus on Environment and Climate change amongst Consumers
Rural electrification and higher Power availability will spur future demand

One of Indias oldest lighting company with respected brand image

Good progress in CFL market

Acquired significant stake in Starlite Lighting - a strategic move

30
31
Products:
Luminaires: Industrial, Commercial, Decorative, Street
light, Flood light, LED, Lighting Electronic, Lighting Control
HID lamps: Mercury & Sodium vapor lamps, Halogen
lamps, Metal halide and Fluorescent Lamps
Tie-ups
Overview
Products
Technical lighting Fire Alarms & Security systems IBMS & HVAC
32
LUMINAIRE Total Fittings HID
GOLY 23% 24% 15%
CAGR (over 4 yrs.) 24% 25% 17%
Sales Performance (INR mn)
1,210
1,550
1,930
2,300
2,820
19%
23%
25%
28%
25%
FY05 FY06 FY07 FY08 FY09
Total revenue % Growth
33
One of the leading players in street Lights, flood Lights and industrial applications
Key highlights
Business strategy
Focus on new segments IT/BPO/Retail/Healthcare/Pharma
Promote products to builders / Electrical Consultants / Architect segment
Introduction of new products with LED light source
Focus on energy efficiency products and Green Building applications
Key industry growth drivers
Rapid urbanization, emerging segments like retail formats, malls, showrooms, IT parks, Tourism, Services
Govt. and Private sector spending on infrastructure
Major Customers
Industrial: TATA Group, Reliance Group, Reliance ADAG, L&T, Aditya Birla Group, Siemens, ABB
Government Clients: Airport Authority of India, Container Corporation of India, State Electricity Boards, NTPC,
Municipal Corporations & Councils, MSRDC, BEST, DAE

Offers the latest and cutting edge Security and BMS (Building Management Systems) to
its institutional customers in partnership with Delta Controls of Canada

35
Fields of operation:
Special Projects: Turnkey Lighting Projects, Factory
lighting, Air-port Lighting, Sports Lighting, Rural
Electrification etc.
High Mast & Poles: High Mast Lighting, Signage,
Transmission Lines, Energy-efficient Illumination
Towers: Design, Supply, Erection and commissioning of
Transmission lines and Telecommunication Towers,
Monopoles etc.
Tie-up:
Overview
Products
Telecom Towers
Street Furniture
Power Distribution
Signages
Power Transmission
Illumination Projects
Sports Lighting
High Mast
CNC Profile Cutting Machine CNC Press Brake from LVD
Pole Welding Machine
Welding of High Mast Section
GODREJ Make Shearing Machine
30,000 TPA Tunnel Enclosed Bath
Ranjangaon factory
37
E&P Total
Special
Projects High Mast Towers
GOLY 44% 57% 39% 39%
CAGR (over 4 yrs.) 31% 56% 36% 15%
Sales Performance (INR mn)
1,780
2,450
3,050
3,630
5,230
19%
44%
87%
38%
24%
FY05 FY06 FY07 FY08 FY09
Total revenue % Growth
38
Particulars Total
Special
Projects H. Mast Towers
Sales FY09 (INR mn) 5,230 1,600 1,980 1,650
GOLY 44% 57% 39% 39%
CAGR (over 4 yrs.) 31% 56% 36% 15%
Division wise Sales Performance
15% 13%
16%
28%
30%
32%
29%
35%
39%
38%
53%
58%
49%
33% 32%
FY05 FY06 FY07 FY08 FY09
Special Projects High Mast Towers
Orders In Hand As on Oct 2009
(INR mn)
Segment Order Book
Towers 3,974
High Mast & Pole 1,046
Special Projects 3,480
Total 8,500
39
One of the leading player in sports lighting, power plant lighting and High Masts space
Diversification into related businesses such as Rural Electrification etc
Key highlights
Industry growth drivers
Special Projects
Huge Investments expected in Power and Infrastructure sector
Electricity connections to 800 mn households in 125,000 villages will be given in 5 yrs under RGGVY - investment
of INR 1,200 bn
Major opportunities in Rural electrification and Transmission Line Towers
Airport Authority of India to develop 25 non metro Airports
Construction of IT parks / BPO / Shopping Mall / Special Economic Zones
High Mast & Poles
Jawaharlal Nehru National Urban Renewal Mission within 7 yrs 23 cities to be transformed involving an
investment of INR 400 bn
Towers
60000 CKM transmission network to be added by 2012
Present capacity of power transfer to be increased from 9000 MW to 30000 MW Investment of INR 2,000 bn
350,000 TCT by 2010 investment of INR 1,050 bn

BAJ AJ Engineering & Projects BU

GMC Balayogi Football cum Athletic Stadium
Hyderabad
Sawai Mansingh Cricket Stadium, J aipur
Sawai Mansingh Cricket Stadium, J aipur
BAJ AJ Engineering & Projects BU
Main Tennis Stadium At Fateh Maidan
Hyderabad
Kothagudam APSEB - 2 x 210 MWTPP
Queens Necklace At Marine Drive - Mumbai
Telecommunication
Application
Antenna Mast for Reliance
Infocom-VPT Project
Highmast for Telecommunication &
Antenna Mast
Signages & Gantry
Largest National Flag (22 x
14 mtrs) installed at Kaithal
& Ladwa in Haryana
The Indias tallest mast 63
mtrs (48x72ft)
Hoisted & lowered through
high speed
motorised winching
arrangement. This
Mast is manufactured at
Ranjangaon and
Erected by Bajaj E&P BU
team
Flag Mast
Installed at Kaithal & Ladwa, Haryana
Tr ansmi ssi on Li ne Tow er s

Monopole Tower Manufactured At Ranjangaon Plant

Monopoles For Power Transmission- PGCILs Dadri Ballabhgarh 400
KV D/C Monopole
132 kv d/c Transmission Line at Pachpatta, Nasik - for ABB /
Enercon / MSETCL
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Table of Contents
Strategic Business Units
Annexure: Financials Statements
Key Highlights
Bajaj Electricals An Overview
54
Key Highlights
Nationwide distribution network with wide urban and retail penetration
Strong financial track record
Robust, sustainable business strategy
Experienced management team backed by distinguished board
Strong brand positioning to drive growth
Diversified Product & Business portfolio Both Consumer facing and Industry /
Infrastructure facing
55
Nationwide distribution network
Distribution network
19 branches
600 distributors
5,000 dealers
240 service centers
300,000+ retail outlets
Lucknow
Depot
Mumbai
Pune
Nagpur
Ahmedabad
Raipur
Indore
Noida
J aipur
Delhi
Chandigarh
Bangalore
Cochin
Chennai
Hyderabad
Bhubaneshwar
Calcutta
Guwahati
Patna
Branch
Faridabad
Parwanoo
Goa
Ranchi
Daman
Zirakpur Dehradun
Has a strong pan India footprint and has displayed great
strengths in distribution, logistics & project execution
plans to further amplify its retail network
56
Strong brand positioning to drive growth
Bajaj Appliances
Tie up with Morphy Richards (UK) for
manufacturing & marketing premium products in
India
Bajaj Platini introduced at the Premium end
New Ad-campaign on Rock star mommy
launched
Bajaj Fans
Tie up with one of the worlds
leading fan manufacturers - Bajaj
Midea
Targeting kids segment by
supplying specially designed fans
through a tie up with Disney
Bajaj Lighting
Significant network expansion
undertaken
Significant capacity expansion in
Starlite Lighting for CFLs
Focus on Rural markets
Bajaj Luminaires
Tie up with Trilux Lenze
(Germany) for premium technical
lighting and RUUD Lighting (US)
for LED
New Foray into IBMS , HVAC ,
Fire Alarms and Security systems
Strong brand name created in consumer durables & lighting businesses over the last seven decades
57
Experienced management team backed by eminent board
Shekhar Bajaj, Chairman & MD - Bajaj Electricals Ltd.
Worked previously at Bajaj Sevashram and Bajaj
International
Present on Board of Directors for Bajaj Auto
Former President of ASSOCHAM, IMC, Elcoma, IFMA etc.
Eminent Board
Top Management
Anant Bajaj
Executive Director
11 years of experience in the industry
Holds a BCom and PGDFMB
Director on Board of Bajaj
International
R. Ramakrishnan
Executive Director
Shekhar Bajaj
Chairman & Managing Director
B.Sc. (Hons.) and PGDBM from XLRI Jamshedpur
Associated with the Company since last 10 years
after 17 yrs in Asian Paints
Earlier President & COO of Company
Actively associated with ISA, ASCI CCC, BMA,
CII and IMC
P. P. Jathar
Executive VP & CFO
26+ years of experience in the industry
Holds a bachelors degree in commerce and
a qualified chartered accountant
Responsible for all financial and accounting
matters
Madhur Bajaj
Director
V.B.Haribhakti
Director
Dr.(Mrs) Shahani
Director
Dr. R P Singh
Director
H. V. Goenka
Director
A.K.Jalan
Director
Ajit Gulabchand
Director
58
Robust business strategy
Leveraging strong
brand equity
Created a strong brand name in consumer durables and lighting businesses over the
last seven decades
Continuously focusing on brand building and expanding retail network
Focusing on high
growth businesses
Engineering & Projects revenue has expanded more than 5 fold from INR 950 mn
(FY04) to INR 5,230 mn (FY09). TLT, Rural Electrification have large growth potential
Focusing on premium brands like Morphy Richards and Trilux and making them
successful
Substantial
market share
One of Indias leading players in the small appliances , fans and Lighting markets
One of the market leaders in mixers, irons OTGs & water heaters
Strong Distribution and presence in urban and rural markets
Diversified player
Diversified player with good presence in:
Consumer facing business (Appliances, Fans and Lighting)
Industry facing business (Luminaires)
Infrastructure facing business (Engineering & projects- High mast, turnkey
lighting project, Transmission Line tower and Rural Electrification)
59
BAJAJ ELECTRICALS LTD.
Thank you!