Bajaj Elec on course to exceed Rs 2,000 cr turnover in FY 10 | business | Hindustan Times
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Bajaj Elec on course to exceed Rs 2,000 cr turnover in FY 10

business Updated: Aug 02, 2009 12:33 IST

Bajaj Electricals is aiming for a Rs 2,100 crore turnover this fiscal besides attempting to garner increased market-share in several of its consumer appliances, fans and lighting products, a senior company official said.

"We are on course to cross the Rs 2,000 crore mark and are aiming for a turnover of around Rs 2,100 crore in FY 10. We are also aiming for an increased marketshare in several of our products such as fans and water-heaters, among thers," Bajaj Electricals' Executive Director, R Ramakrishnan, told PTI here.

The company has a robust order-book of Rs 900 crore and expects a significant demand pick-up going forward. Its product-mix in terms of sales has also improved, he said, adding "all this encourages us to believe that we will achieve our goals."

In Q1 FY 10, its topline grew from Rs 317.6 crore on a YoY basis to Rs 365.4 crore while its net profit expanded 62.3 per cent at Rs 16.4 crore from Rs 10 crore in the year-ago period.

On the marketshare of its various consumer appliances, Ramakrishnan said that the company upped the marketshare of its fans from 14 to 16 per cent.

"It is a toss-up between us and Usha for the number two spot. We are aiming to be number two soon," he said. Presently, Crompton holds pole position in this segment, he said.