Bajaj Electricals Limited, incorporated in July 1938, is a prominent Indian consumer electrical equipment manufacturing company. As a key part of the ₹380 billion (US$4.5 billion) Bajaj Group, the company has established a strong legacy spanning over eight decades. Bajaj Electricals operates across several business verticals, including Consumer Products (Appliances, Fans, Lighting), EPC (Illumination, Power Transmission, and Power Distribution - though the latter two have been demerged), and Exports. It also holds a presence in premium home appliances and cookware segments through brands like Morphy Richards and Nirlep.
Following the demerger of its Power Transmission and Distribution business to form Bajel Projects Limited, Bajaj Electricals now primarily focuses on two key segments: Consumer Products (CP) and Lighting Solutions (LS).
- Consumer Products (CP): This segment is the primary revenue driver and encompasses a wide array of electrical appliances for home and kitchen use. The portfolio includes breakfast appliances (juicers, kettles, toasters, sandwich makers), cooking appliances (electric cookers, gas stoves, induction cookers, microwave ovens, pressure cookers, pans, tavas, OTG ovens), and various kitchen gadgets (mixer grinders, hand blenders, food processors, choppers, wet grinders). The segment also offers home comfort solutions like room heaters, air coolers, irons, and water heaters.
- Lighting Solutions (LS): This business caters to both consumer and professional lighting applications. The company focuses on delivering innovative and dependable illumination solutions, emphasizing quality, sustainability, and technological advancement.
Bajaj Electricals leverages a multi-brand strategy to cater to diverse market needs. Its key brand offerings include:
- BAJAJ: The flagship brand, offering a wide range of consumer electrical products.
- Morphy Richards: A premium brand for home appliances and cookware.
- Nirlep: Known for its cookware.
- Nex: Another brand in their product lineup.
The company is a leading player in the Indian consumer electrical market. With the strategic focus on consumer-centric products post-demerger, Bajaj Electricals has strengthened its appliances portfolio, driven by consumer insights, brand rejuvenation, and meaningful innovation.
Bajaj Electricals reported a market capitalization of ₹7,681 crore as of March 2025. The company has demonstrated growth in its financial performance:
- Q4 FY25 Revenue: ₹1,262.73 crore (a 6.92% increase year-on-year)
- Q4 FY25 Net Profit: ₹59.05 crore (a significant 101.47% increase year-on-year)
- FY25 Revenue: ₹4,815.91 crore (a 4.19% increase year-on-year)
- FY25 Net Profit: ₹133.42 crore (a 1.79% increase year-on-year)
The company also experienced a notable improvement in its consumer products segment, with revenue increasing by 8.2% to ₹3,577 crore in FY25 from ₹3,306 crore in FY24.
As of March 2025, the promoter holding in Bajaj Electricals Ltd stood at 62.72%, showing relative stability from 62.78% in June 2024.
The company has announced its 86th Annual General Meeting (AGM) to be held on August 7, 2025. Furthermore, a Final Dividend of ₹3 per share (150%) has been recommended, subject to shareholder approval.
Bajaj Electricals has been actively pursuing strategic initiatives to bolster its market position and drive growth:
- Strategic Partnership for Lighting: The company has entered into an exclusive three-year agreement with Slovakian firm SEAK to manufacture and supply advanced lighting control products for tunnel projects in India. This partnership aims to enhance its capabilities in the professional lighting segment.
- Focus on Sustainability and Innovation: Bajaj Electricals is committed to sustainable growth through innovation, customer-centric solutions, and strong corporate governance. The company continually invests in research and development to anticipate future market trends.
- Strong Demand for Air Coolers: The company is experiencing robust demand for its air coolers, attributed to rising AC prices and a hot summer. Healthy double-digit growth in primary sales is observed across India, with a particular strength in tier 2 and tier 3 markets.
- Operational Efficiency: Management is focused on strategic pricing adjustments and operational improvements, including logistics, to enhance efficiency and profitability.
- Asset Monetization: In the March 2025 quarter, the company liquidated certain immovable properties, recording a profit of ₹30.13 crore from these transactions. An expense of ₹8.76 crore was also incurred for a voluntary retirement scheme at the Nashik factory.
- Future Growth Outlook: Bajaj Electricals remains optimistic about future growth, driven by strong performance in alternate sales channels (fans and coolers), recent product launches, and a commitment to expanding its product portfolio.
Bajaj Electricals' strategic focus on innovation, brand building, and partnerships positions it well to capitalize on the growing demand for consumer electrical products in India.
