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Bajaj Electricals is looking to double its turnover from exports by 2014-15 to around 100 crore banking on entering new markets. The company expects to end this year with an export of around 50 crore.
Anant Bajaj, joint managing director of Bajaj Electricals said that currently the turnover from exports is less than one per cent of the company's overall turnover. "We clocked a revenue of around 33 crore from exports last fiscal, and this financial year we aim to close at 50 crore." The company exports primarily lighting and kitchen appliances.
"Currently we are exporting to around 20 countries including Sri Lanka, and countries in West Asia, Africa, Caribbean and South America. We plan to be present in 50 countries by FY15, and our turnover from exports should touch around 100 crore by then," Bajaj added.
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Meanwhile, the company is expecting to close the fiscal with a turnover of 4300 crore, up from 3200 crore last year, and is trying to improve the availability of its products to boost sales, and, in turn, market share.
Pradeep Patil, vice president and head, kitchen appliances business unit of Bajaj Electricals claimed that while the top of the mind recall for Bajaj products was around 60%, the company enjoyed a 16-17% market share. "If availability is improved, this gap can narrow down significantly," he added.
Bajaj said that the company is eyeing a turnover of 5,000 crore by FY15. At present, Bajaj Electrical enjoys a market share of around 12-13 per cent in kitchen appliances, 11-12 per cent in fans, 8-9 per cent in lighting segment. Bajaj said that it is aiming at a two to three per cent growth in market shares in each segment every year. Bajaj Electricals has six strategic business units – engineering and projects, appliances, fans, luminaries, lighting and Morphy Richards.
