Rationale to invest: Bajaj Electrical Ltd (BEL) has a leadership position in the kitchen appliance segment. We believe a strong demand outlook of consumer products and focus on debt reduction (gross debt reduced by 60% in FY21) will lead to an improved RoE and RoCE for BEL going forward. Going forward, we expect healthy profitability on the back of a strong brand with a leadership position in kitchen appliances, a wide distribution network & strengthen product portfolio.
