About the Report

We are delighted to share our Annual Report, which incorporates optional details to the fullest extent feasible, following the reporting guidelines established by the International Integrated Reporting Council (IIRC). In addition, the GRI (Global Reporting Initiative) Standards and Sustainable Development Goals (SDGs) are mapped to the KPIs used for reporting on the Capitals.

Our main objective with this report is to fulfil the information needs of our stakeholders. We strive to present this information in a manner that is meaningful and applicable to our key stakeholders as well.

The reporting is aligned with the following –

  • The Companies Act, 2013
  • Indian Accounting Standards
  • The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Our approach to reporting

Shareholders are now experiencing a significant shift in their approach to evaluating corporations. Instead of solely focusing on financial performance, stakeholders now place equal importance on a company's overall value creation. Bajaj Electricals, as a responsible business, has embraced this transformation and is dedicated to pursuing sustainable value creation through its vision. This report serves as a means to convey essential details about Bajaj Electricals Limited's governance, business model, strategy, opportunity evaluation, material risk, operations, and performance for the period spanning FY 2022-2023.

Reporting year

This comprehensive report mainly focuses on the period spanning from April 1, 2022, to March 31, 2023. Nevertheless, specific segments of this report include relevant data and statistics from previous years as well. The information presented in the Integrated Report pertains to Bajaj Electricals Limited as an independent entity, unless stated otherwise. All financial and non-financial aspects adhere to the applicable laws, regulations, and standards of the Republic of India.

The electronic version of the report can be found on our website


The report discusses 6 capitals

Financial Capital

Manufacturing Capital

Intellectual Capital

Human Capital

Natural Capital

Social & Relationship Capital

Material issues

Bajaj Electricals has conducted a materiality assessment to identify the most significant issues that could have an impact on the company's ability to create long-term value for its stakeholders. These issues were determined by considering internal and external factors, industry trends, the company's business strategy, and the economic environment.

The management of Bajaj Electricals will review these material issues as the company progresses on its sustainability journey. The Materiality section (on page 40) provides a brief explanation of these issues. By examining these material topics, we can gain insights into the factors that drive the company's growth.

Reporting boundary

This report is for Bajaj Electricals and the scope of this report covers its four manufacturing locations, its Offices across India, project sites, international projects managed from India. It includes the segments of Bajaj Electricals — Consumer Products, Lighting Solutions and Engineering, Procurement & Construction.


To ensure the integrity of facts and information, the Management have reviewed the facts and qualitative statements in the Annual Report. The statutory auditor’s S R B C & Co. LLP, Chartered Accountants have provided an unmodified opinion on the financial statements and the ‘Independent Auditor’s Report’ has been duly incorporated as a part of this report.

Queries regarding the report

Any feedback or query related to this report can be communicated to

Mr. Ajay Nagle

CS & Compliance Officer legal@bajajelectricals.com

Readers can also reach out to us at the above email to provide feedback on improving our disclosures.

Built on trust and legacy

Page 6

Accelerating organisational transformation

Page 10

A convenient, innovative and customer-centric portfolio

Page 16

Building a robust business model with prudent capital allocations

Page 34