Bajaj Electricals bets big on non-electrical items

Bajaj Electricals Ltd (BEL), a part of the $7-billion Bajaj Group, will focus on non- electrical appliances to propel growth without losing grip on the existing product portfolio.

 

"We are very strong in electrical appliances. We are going to focus on non-electrical items such as pressure cookers, gas stoves and non-stick cookware. Non-electric (segment) right now is very small. We just entered into this business a year-and-a-half back," P S Tandon, Executive Director Consumer Products, BEL, told reporters here.

 

Revenues from the non-electrical appliances are likely to be around Rs 80-100 crore this fiscal, he said, adding they are expected to grow exponentially in the future on account of huge market requirement.

 

The company will set up a research and development centre with an investment of Rs 50-60 crore in Mumbai, and it will be operational in the next 12 to 18 months, Tandon said.

 

He said the company is looking at a turnover of Rs 4,200 crore this fiscal and Rs 5,000 crore in the FY 2014-15.

 

BEL has so far opened 68 showrooms of Bajaj World - the company's initiative to provide a wide range of products under one roof - and is expected to open few more to take the number to 75 by March.