Shekhar Bajaj, chairman and managing director of the firm, explains to Viveat Susan Pinto on what led to this sales jump, besides throwing light on the benefits accruing to the sector on account of the GST rate cuts in appliances.
This is part of internal transactions. Nothing has been sold outside the group.
Maharashtra, which contributes between 12 and 15 per cent of appliances sales, announced lockdown-like curbs, meaning there will be no business for the second half of the month as well from the state.
Bajaj Electricals is eyeing companies that are strong in manufacturing and has a good product line, but are weak in financials.
Bajaj Electricals Ltd has entered into a tie-up with US-based construction equipment company Multiquip for outsourcing and marketing mobile light towers and globugs in India.
Categories such as washing machines, refrigerators and television sets have seen sales growth of around 8-10 per cent in August compared to last year, industry sources said, with September also reporting a similar growth trajectory.
On Tuesday, Bajaj Electricals extended its brand licence agreement with UK-based kitchen appliances major Morphy Richards, launching a new range of products. Chairman & managing director Shekhar Bajaj, cousin of industrialist Rahul Bajaj, tells Viveat Susan Pinto the company will increasingly focus its attention on its consumer products business.
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