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Celebrating its 75th year, Bajaj Electricals is eyeing sales revenues of over Rs 5,000 crore in financial 2014-15 and is also setting up a research and development centre in Mumbai.
Explaining company's future plans, Shekhar Bajaj, chairman and managing director, Bajaj Electricals said, " We are targeting sales turnover of Rs 5,000 crore plus in financial year 2014-15, up from Rs 3,400 crore clocked in 2012-13. We are growing at about 25 per cent and targeting aggressively to touch Rs 4,200 crore to Rs 4,300 crore sales revenues in fiscal 2013-14. We want to execute and hand over older projects, and close all the gaps by the year end. Then we can focus on our new order book."
According to Bajaj, the consumer durables and lighting segments would cross sales revenues of Rs 2,100 crore and Rs 900 crore respectively in 2013-14, Bajaj said.
He said while EPC segment contributed 70 per cent of the total business, lighting and consumer durables contributed 15 per cent each.
The company’s projects order book at the end of Q3 of 2013-14 fiscal stood at Rs 1,465 crore, and is expected touch Rs 1,500 crore by the end of the fiscal.
He added, " The company was targeting the fastest growing engineering, procurement and construction (EPC) segment to touch Rs 1,200 – Rs 1,300 crore sales revenues in 2013-14. Last year, this largest and fasted growing segment grew 70 per cent at Rs 700 crore. "
Bajaj Electricals is planning to set up an integrated R&D Centre that will drive innovation and help it create cutting edge technology across its three business verticals. Commenting on this, Anant Bajaj, joint MD, Bajaj Electricals, said, "Like Bajaj Auto, which has created its own technology for its motorcycles, we are setting up our own R & D centre that will study market needs and make what the consumer wants. The location for it had not yet been finalised, but would be in Mumbai."
With cutting edge technology, company is also eyeing export market by increasing its share to over 3-4 per cent.
Currently exports account for a mere 1% of Bajaj Electricals’ sales to markets like Lanka, West Asia and African countries.
Bajaj Electricals has distribution arrangements with Trilux Lenze of Germany; Disano of Italy; CREE Lighting of USA (for Luminaries); Delta Controls of Canada (for Building Management Systems) and Securiton of Switzerland (for Security Systems), Morphy Richards of UK (for Appliances), Disney of USA & Midea of China (for Fans). The company has also invested in Starlite Lighting for manufacture of energy saving CFL lamps.
