Bajaj Electricals ltd is a 68 year old diversified Company with its operations in Lighting, Luminaires, Appliances, Fans and Engineering & Projects. Incorporated in 1938, Bajaj Electricals (BEL) commenced its operations as Radio Lamp Works and changed its name to the present one in 1960. The company has its Factories situated at Chakan, Village Vankusawade and Village Dhoksanghvi respectively. Bajaj Electricals has 19 branch offices, a chain of 600 distributors, 3000 authorised dealers, over 1,20,000 retail outlets and over 200 service franchises spread across the country. At present, BEL has five major strategic business units comprising of home appliances, fans, lighting, luminaires and engineering & projects. BEL is in the business of manufacturing, erection and commissioning of Transmission Line Towers, Telecom Towers, Mobile Telecom Towers and Wind Energy Towers. Export of all BEL's products except of its engineering and projects business unit is taken care of by group company Bajaj International Pvt. Ltd. In 1992-93, a Memorandum of Understanding was concluded with The Black & Decker Corporation of USA for setting up a Joint Venture Company for the manufacture of Portable Electric Power Tools and Small Home Appliances in India. During 1994-95, BEL subdivided the equity shares of Rs.100/- each in to shares of Rs.10/- each. BEL offered rights issues in Apr.'95 at a premium of Rs 190 per share to part-finance its project to implement a joint venture, Black and Decker Bajaj Pvt Ltd with the Black and Decker Corporation, US, for the manufacture of power tools and houseware, and to expand the capacity of die-casting components from 25,000 pa to 40,000 pa. In 1996 BEL's Matchwel unit has been awarded ISO 9002 Certification by TUV, Bayan, Germany, in respect of fans, die-castings and magneto assemblies manufactured at Matchwel unit. During 1998-99, the company entered an agreement with the Black & DeckerCorp, USA to purchase their 50% holding in the Black & Decker bajaj, thus making it a 100% subsidiary in 1999-2000. Subsequently, the company was renamed Bajaj Ventures Ltd and BEL with a view to unlock part of the investments, disposed off 50% of the shareholding in Bajaj Ventures Ltd during 2001-2002, due to which the company ceased to be the subsidiary of BEL. BEL had set up facilities for manufacture of highmast and other related products along with galvanizing plant at an approximate cost of Rs.45 crores. The plant located at Ranjangaon near Pune commenced its commercial production from April 2001. The company has introduced two models of nature switches which turn on/offdepending upon the ambient lux level.The switches being automatic,willcontain the waste in use of electricity due to human errors. The Ranjangaonunit,a division of Engineering & Projects,has received the coveted ISO-9001certification and from 2002 it is actively working on ISO-14001certification. During December 2002 the company has executed one of the prestigious ordersfor illumination of eight outdoor and indoor stadiums at Hyderabad for theNational Games 2002. During 2003-04, the company issued 43,21,440 equity shares of Rs.10/- each at a premium of Rs.15/- per share aggregating 1080.36 lacs as rights issue in the ratio of 1:1. The proceeds of the rights issue has been utilised for the repayment of ICDs. During 2005-2006, the companies production capacity of Swaged/Octagonal Poles expanded from 10,000 Nos to 19700 Nos and Lattice Mast/Transmission Line Towers/Others expanded from 22525 Nos to 24000 Nos. The companies production capacity of Products like Fans, Parts & Accessories for Magneto, Magneto Assemblies, Dies made of Steel, Power, Highmast Shafts, stood at 1000000 Nos, 25000 Nos, 300000 Nos, 24 (2.8 MW), 2275 Nos respectively.