Bajaj Electricals to quadruple turnover in 6 yrs

Electricals and consumer appliances major Bajaj Electricals is looking to acquire premium brands in appliances in its pursuit of growth.

The Rs 1,100-crore company plans to double its turnover in two years and quadruple it in six years, through acquisitions in its existing businesses and foraying into new areas that may include tie-ups with international players.

Bajaj Electricals Executive Director R Ramakrishnan said the company would raise its turnover from the current Rs 1,100 crore to Rs 2,100 crore by 2009-10 and to Rs 4,000 crore by 2012-13.

"The journey to this goal will be on the back of expanded market share in the existing lines of business as well as new product lines, including products sourced from international majors," Ramakrishnan said.

The company has already tied up with Italian appliances major, Nardi, to market its gas-based cooking appliances in India. The range includes gas stoves and chimneys and this would be extended to premium and ultra premium offerings.

"These products may not form a major part of our business in terms of the number of units, but will add significantly to the top line," said P S Tandon, head of Bajaj Electricals appliances business. The premium products will be brought in as completely built units and the company will explore the possibility of making some of the components or assemblies in future.