Bajaj Electricals

Bajaj Electricals Ltd.

Company type	Public
Traded as	BSE: 500031 NSE: BAJAJELEC
Industry	Electrical equipment
Founded	14 July 1938 (1938-07-14)
Founder	Kamalnayan Bajaj
Headquarters	Mumbai, Maharashtra[1] , India
Key people	Shekhar Bajaj (executive chairman)[2] Anuj Poddar (CEO and Managing Director)
Products	Home appliances, Fans, Lighting & Engineering and Products[3]
Revenue	₹4,727 crore (US$570 million) (2024)[4]
Net income	₹131 crore (US$16 million) (2024)
Number of employees	1,958 (2024)
Parent	Bajaj Group
Subsidiaries	Starlite Lighting
Website	www.bajajelectricals.com

Bajaj Electricals Ltd. is an Indian consumer electrical equipment manufacturing company based in Mumbai, Maharashtra.^[5] It is a part of the ₹380 billion (US$4.6 billion) Bajaj Group. It has diversified with interests in lighting, luminaries, appliances, fans, LPG based generators,^[6] engineering and projects.

Its main domains are lighting, consumer durable, engineering and projects. Lighting includes lamps, tubes and luminaire. Consumer durable include appliances and fans. Engineering and projects include transmission line towers, telecommunications towers, high-mast, poles and special projects, and others include die casting, wind energy and solar energy.^[7] Some notable projects include lighting works at the Commonwealth Games stadium and the Bandra Worli Sea Link.^[8] It has 19 branch offices spread in different parts of the country with a chain of about 1000 distributors, 4000 authorized dealers, over 400,000 retail outlets and over 282 Customer Care centers.

History

Bajaj Electricals was incorporated on 14 July 1938 as Radio Lamp Works Limited under the Indian Company Act, 1913 as a Public company limited. On 1 October 1960 it was renamed Bajaj Electricals Limited.^[9] In 1964, Matchwell Electricals (India) Limited, ("Matchwell"), a manufacturer of electric fans became a subsidiary of the Company and subsequently, with effect from 1 July 1984, the business and undertaking of Matchwell was amalgamated with the company.

In the financial year 1993–1994, Bajaj Electricals entered into a joint venture with Black & Decker Corporation, US, for the manufacture and marketing of power tools, household appliances, and related accessories, through a separate company named Black & Decker Bajaj Private Limited, ("Black & Decker Bajaj").

During the financial year 1999-2000 Black & Decker Bajaj became a 100% subsidiary of the Company upon the Company acquiring a further 50% of the shareholding thereof from Black & Decker Corporation, after which Black & Decker Bajaj was renamed Bajaj Ventures Limited. However, in the financial year 2002–2003, the Company divested 50% of its shareholding in Bajaj Ventures Limited and Bajaj Ventures Limited ceased to be a subsidiary of the company. In January 1998, the company established a new manufacturing unit at Chakan near Pune and commenced operations of manufacturing of fans and die-cast components. The production of fans at the manufacturing activities of the Matchwell unit also was gradually shifted to the Chakan unit. In September 1999, Bajaj established and commissioned a wind energy generation unit with an installed capacity of 2.8 mega watts in the village of Vankusawade in Satara, Maharashtra. The facility continues to run profitably till date.

In the year 2000-2001 the Company set-up manufacturing facilities including a fabrication unit and a galvanising plant at Ranjangaon, near Pune for the manufacture of high masts, lattice towers, and related products, and the said manufacturing facilities commenced commercial production with effect from 1 April 2001.

In November 2002, the Company entered into a technical collaboration and brand licensing agreement with Morphy Richards, United Kingdom, for the sales and marketing of electrical appliances under the brand name of "Morphy Richards" in India.

In the year 2005 the company entered into a distribution agreement with Trilux Lenze of Germany for high end technical lighting.

In the year 2007, the company acquired 32% of the share capital of Starlite Lighting Limited, a company engaged in the manufacture of Compact Fluorescent Lamps ("CFLs").

In 2012–2013, they have completely divested the stake and association with Black & Decker Corporation, USA.

In 2015 Bajaj Electricals appointed On Ads Communications as their sole creative partner.^[10]

References

1. "Bajaj Offices". Bajajelectricals.com. Retrieved 28 January 2011.
2. Special Correspondent (8 February 2010). "Business News : Bajaj Electricals to step up output in Starlite". The Hindu. Retrieved 28 January 2011. {{cite news}}: |author= has generic name (help)
3. "Home". bajajelectricals.com.
4. "Bajaj Electricals AR 2024" (PDF). Bseindia.com. Retrieved 20 August 2024.
5. "Bajaj Electricals expresses interest in solar energy segment | TopNews". Topnews.in. 24 January 2010. Retrieved 28 January 2011.
6. "Bajaj Electricals launches LPG-based generators". Business Standard. 11 January 2011. Retrieved 28 January 2011.
7. Gaurav Tikmani (24 January 2010). "Bajaj Electrical | India's Cleantech Economy". Indianenergytech.com. Archived from the original on 29 January 2011. Retrieved 28 January 2011.
8. "Promotion And Re-Designation of Shri Anant Bajaj, Joint Managing Director As Managing Director of the Company". The Hindu Business Line. 23 May 2018. Retrieved 23 May 2018.
9. "History of Bajaj Electricals". Bajajelectricals.com. Retrieved 28 January 2011.
10. "Bajaj Electricals appoints OnAds Communication as their sole creative Partner". THe Hindu Business lines. THe Hindu. Retrieved 14 September 2015.

External links

• Bajaj Electricals gaining more power
• Bajaj Electricals CFL unit to increase capacity
• Shishir Bajaj exits Bajaj Electricals
• Bajaj Electricals to focus on energy efficiency