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After carving out a niche for itself in the electrical appliances market, leading consumer durable and lighting company, Bajaj Electrical is now focusing on non-electrical appliances segment.
“We are now focusing on non-electrical appliances segment and eyeing a market share of five% by March 2014”, said Saumendra Mohan Mohanty, National Sales Manager (Kitchen Appliances Business Unit) of the company.
The company sold Rs 75 crore worth non-electrical appliances in the last fiscal and aims to clock a business of Rs 125 crore in this segment by 2013-14.
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The company’s non-electrical portfolio comprises pressure cookers, non-stick cook wares and gas stoves, where its main competitors include brands like Hawkins and Prestige.
The Rs 3300 crore Bajaj Electrical Limited, a part of the Rs 38,000 crore Bajaj Group, has six business units such as engineering and projects, appliances, luminaries, lighting and morphy richards.
The company has posted turnover of Rs 69.82 crore with a CAGR of 8% in Odisha by November end, this year.
Its Bhubaneswar branch has bagged orders worth Rs 110 crore from OLIC (Odisha Lift Irrigation Corporation Ltd) and Rs 100 crore from Mahanadi Coalfields Ltd (MCL) for installation of 128 High Mast lights, said P S Tandon, Executive Director, Consumer Products Unit at Bajaj Electricals.
The company plans to open six more Bajaj World stores, the exclusive company outlets, in the state by the end of this fiscal. The new outlets will be located at Bhubaneswar, Rourkela, Sambalpur, Berhampur, Jajpur and Baripada. This is in addition to four exclusive stores operating at Bhubaneswar, Cuttack, Balasore and Bhadrak.
The net national sales/income from the company’s operation across the country increased by 24.5% to Rs. 1743.67 crore in the first half of the current fiscal compared to the corresponding period of last year.
However, the company incurred a loss of Rs. 21.34 crore, as against profit before tax and exceptional items of Rs. 25.86 crore in the second half of 2012-13. The net loss in the first half of this year stood at Rs. 14.69 crore, against net profit of Rs 38.90 crore in the corresponding period of the previous year.
