Bajaj Elec aiming for over Rs 2,000-cr turnover in FY 10

Bajaj Electricals with its order-book presently at Rs 960-crore, is aiming for a turnover and PAT in excess of Rs 2,000-crore and Rs 100-crore in FY 10, a top company official said.     

"We are aiming for a turnover in the range of Rs 2,100-crore in FY 10. We have an order-book presently of Rs 960-crore and we should cross the Rs 100-crore mark in PAT this fiscal," Bajaj Electricals' Chairman and Managing Director Shekhar Bajaj told PTI here today.     

The company clocked a turnover and PAT of Rs 1,801-crore and Rs 89.1-crore respectively, in FY 09.     

The company's performance was buoyed by a robust performance in Q4 FY 09 when its net sales/income jumped 44 per cent at Rs 648.7-crore and its profit by 43 per cent to Rs 47.5-crore.     

"More than half of our profit emanated in Q4 FY 09," Bajaj said.     

The Board of Directors of the company has recommended a dividend payment of 100 per cent as against 80 per cent in the last fiscal.     

The various businesses of the company have fared well with its small appliances division (Bajaj plus Morphy Richards) clocking a turnover of Rs 467-crore.

"We are a market-leader in small appliances," he said.

The company sold 2-million units of irons, 8-lakh units of mixer-grinders and 1.2-lakh units of coolers. "We hold a 10-20 per cent market share in these," Bajaj said.     

Bajaj Electricals plans to give a marketing thrust and improve distribution of its fans business this fiscal and claim the second spot in the market. Presently, it stands third behind Crompton and Usha.     

"We are eyeing the number two spot in fans. With marketing initiatives and improvement in distribution, we should be able to achieve our goal," he said.     

In lighting, Bajaj Electricals currently ranks second in the market behind Philips.     

Bajaj said that there were no fund-raising plans for the present and that the company's internal resources and bank borrowings would suffice.