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Bajaj Electricals Ltd, electrical items and home appliances major, expects to clock nearly 25 per cent growth in turnover to Rs 4,200 crore this fiscal.
According to Shekhar Bajaj, Chairman and Managing Director, this growth is likely to happen through both organic route and new acquisitions.
“Our turnover was Rs 3,400 crore in 2012-13. We are eyeing a Rs 4,200-crore turnover in 2013-14, driven by both organic growth and some new acquisitions,” Bajaj told reporters here.
He was speaking before the 13{+t}{+h} Annual General Meeting of Indian Fan Manufacturers Association (IFMA), a CII affiliated industry body. Bajaj has been made the new President of IFMA with effect from Monday.
A Bajaj Group company, which will complete 75 years this year, is looking forward to double-digit growth in all its three segments – lighting, consumer durables and engineering, procurement and construction (EPC).
The EPC segment is expected to do well this fiscal, he added.
The company is also planning to expand its overseas business. “Our overseas business constitutes only one per cent of the total turnover and we are expecting it to grow to three per cent by 2016-17,” Bajaj added.
Plans are also afoot for setting up a research and development centre in the next one year, he pointed out.
> ayan.pramanik@thehindu.co.in
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