Bajaj Electricals Ltd (BEL), part of the Bajaj group, has announced its entry into portable generator business, launching generators that run on liquified petroleum gas (LPG), through its Bajaj Fans business unit.
The company is planning to tap the household and commercial establishment markets in the power-deficient urban and rural areas in the country to achieve a turnover of Rs 300 - 400 crore in the next five years. Petrol and diesel versions of the product would be introduced soon, said R Ramakrishnan, executive director, BEL.
"The portable generators available in the market at present run on kerosene. We anticipate a curve ahead in the trend and wanted to offer the consumers the opportunity to shift to gas-based generators," said Ramakrishnan. He added that BEL was planning further diversification and acquisitions to achieve Rs 5,001 crore in three years and to cross Rs 20,000 crore by 2021.
As part of the diversification, the company will soon enter into manufacturing and marketing of pressure cookers, gas stove and water dispensers and purification products. The pressure cooker brand has been marketed on test basis in Bihar, Chattisgarh and Maharashtra and that there were plans to launch the product through out the country within a year, he added. The portable generator would be launched in the four southern states in January 2011. The Fans business unit is targeting Rs 800 crore revenue in 2011-12 and Rs 1,000 crore revenue by the year 2013, said A S Radhakrishna, president, Fans Business Unit, BEL.