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Prabhudas Lilladher Report
We continue to remain structurally positive on Bajaj Electricals Ltd. given -
1. resilient demand momentum across product categories, more so in kitchen appliances
2. market share gains aided by increased distribution reach in smaller towns/ rural India and mass market positioning
3. persistent expansion of consumer product margins
4. sustained improvement of balance sheet aided by robust cash flows generation.
Although sustained recovery in engineering procurement and construction is sometime away, management expects operational profitability by Q2 FY22
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