Bajaj Electricals eyes 38% sales growth

Bajaj Electricals (BEL), one of India's leading consumer electrical products manufacturing companies and part of the Bajaj Group, is aiming at a turnover of Rs 105 crore in Orissa during 2010-11. If achieved, this would mean a growth of 38.15 per cent over Rs 76 crore which the company had achieved in the previous fiscal.

The company, which has about 70 per cent market share in the consumer electrical products segment in the state, has achieved Rs 69-crore business by the end of December, registering a growth of 33 per cent over the same period of 2009-10.

The 72-year-old company has six strategic business units- appliances, fans, engineering and projects, luminaries, lighting and Morphy Richards.

“The company had set an annual target of Rs 86 crore for 2010-11 but we expect to post a turnover of about Rs 105-crore in the state”, PK Tripathy, the company’s chief manager (sales support)-Orissa told Business Standard.

In 2009-10, the turnover of the company in Orissa was around RRs 76-crore, he said. The durables and appliances segment was a major contributor to the company's business in Orissa, he added.

The company had registered a business growth of 33 per cent in Orissa by the end of December, Tripathy claimed. As part of its portfolio diversification plan, the company recently launched its first range of portable generators that run on liquefied petroleum products (LPG). The Bajaj Generator, which was launched in Chennai, will hit the Orissa market very soon, he said.

In the home appliances category, the company has already launched its new products like pressure cookers, water purifiers and water dispensers in the Orissa market this year. Besides Orissa, the new products have also been launched in Assam, Bihar and West Bengal, Tripathy stated.