Summary of the Corporate Notice The Board of Directors of Bajaj Electricals Limited, at its meeting held on March 16, 2026, approved the appointment of Mr. Suketu Shah as the Interim Chief Financial Officer (CFO) and Key Managerial Personnel. This transition follows the departure of the previous CFO and reflects the company’s commitment to maintaining strong financial leadership during its ongoing transformation initiatives. Mr. Shah, a Chartered Accountant with over eight years of experience at the company, has been instrumental in major projects such as the demerger of the EPC business and the execution of a ₹350 crore rights issue.

Detailed Insight into the Notice The appointment was made based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, in compliance with SEBI Regulations. In addition to this leadership change, the company has recently focused on streamlining its assets, including the board’s approval to sell office premises in Mumbai for ₹26.53 crore to related insurance entities. This move is part of a broader strategy to optimize non-core assets while navigating a challenging fiscal environment marked by regulatory shifts and evolving labor codes.

Business Overview and Strategic Updates Established in 1938, Bajaj Electricals is a leading Indian manufacturer of household durables, specializing in consumer products like fans, kitchen appliances, and lighting solutions. In early 2026, the company made a significant strategic entry into the wires segment under its Lighting Solutions division to capitalize on rising demand and diversify its operations. Despite these expansion efforts, the company has recently faced regulatory hurdles, including GST assessment orders totaling ₹19.93 crore from authorities in Tamil Nadu, which the management intends to challenge through legal channels.

Recent Financial Performance and Investor Profile For the quarter ended December 31, 2025 (Q3 FY26), Bajaj Electricals reported a consolidated revenue of ₹1,050.91 crore, a decline of 18.52% compared to the corresponding quarter of the previous year. The company faced a consolidated net loss of ₹34.10 crore for the quarter, a sharp reversal from the profit recorded in Q3 FY25, primarily due to lower sales volumes in high-margin categories and one-time charges related to new labor codes. Key institutional investors in the company include WestBridge Capital and India Capital Growth. Despite the current quarterly downturn, the company maintains a strong liquidity position with cash and investments totaling ₹620 crore.