• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hopes to cross the Rs 1,000-cr turnover mark this fiscal

MR SHEKHAR BAJAJ, CMD, Bajaj Electricals, displaying a product in Hyderabad on Thursday. — P.V. Sivakumar

Hyderabad , Sept. 28

Bajaj Electricals Ltd (BEL), the Rs 845-crore company, plans to enter the inverter market soon. The company is also confident to cross the Rs 1,000-crore turnover mark during the financial year 2006-07.

"We will introduce inverters into the market in the next two months. Our target is to get at least 20 per cent of the Rs 1,000-crore market for this product in the next three years," Mr Shekhar Bajaj, Chairman & Managing Director of BEL, told newspersons here on Thursday.

Good growth

BEL has grown 37 per cent in the first five months of the current fiscal. The growth has been between 25-45 per cent across all its five business units. At this level, the turnover would touch Rs 1,050 crore for the fiscal, he said.

With an order book of Rs 300 crore, BEL would focus on consolidating its existing business units and build a strategy to reach Rs 2,000 crore quickly, Mr Bajaj, who was in Hyderabad to inaugurate a new office, said.

The 68-year-old company, part of the Rs 13,500-crore Bajaj Group, which is essentially into a range of electrical appliances has also turned into a total power company. It is into generation (wind energy), transmission (100-km line for the Power Grid Corporation) and distribution (Jharkand project), he said.

In Jharkand, the company is implementing a Rs 54-crore order to light up 900 interior villages, covering 40,000 families below the poverty line, in the next 18 months, through distribution of power. With Reliance Energy, the company is into providing a million CFL units in Mumbai, Mr Bajaj said.

Though, renewable energy has been a mixed bag experience, the company is keen to get into solar energy in the near future. The wind energy business started in 1999, resulted in loss of Rs 13 crore and Rs 14 crore during the fiscal 2003-04 and 2004-05. However, it turned around and last fiscal, the profit after tax was Rs 30 crore.

BEL is betting on entering LEDs (light emitting diodes) in the future. It is also developing a new generation of energy saving luminaries as well, he added.

More Stories on : Strategy | Electrical Goods

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bajaj Electricals to foray into inverter market

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line