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Company Description
Bajaj Electricals Ltd (BJE) is a 72 year old company with
diversified business interest in consumer durables, lighting and
engineering & projects (E&P) luminaries, appliances, fans and
engineering and projects. Appliances business unit (BU) offers
a range of domestic appliances, including water heaters,
mixers, food processors, microwave ovens, air coolers, steam
and dry irons, electric kettles and water filters. During the fiscal
year ended March 31, 2011, it sold approximately 6.13 million
pieces of appliances. The Fans BU has a range of ceiling,
portable, fresh air and industrial air circulators. The Luminaires
BU markets a range of luminaires covering, commercial,
industrial, flood lighting and street lighting.
The company has been growing strongly at a CAGR of 26% in
last four years backed by robust growth in consumer segment
and steady growth in other divisions. Company is a dominant
player in small appliances, second largest player in luminaire
and third largest in fans. Renowned brand, collaboration with
strong foreign players, wide distribution network and strong
vendor base provides company an edge over competitors.
Consumer segment on strong footing Consumer segment
which consists of Small Appliances & Fans business units
(BUs) has been growing strongly at a 4 year CAGR of 30%. The
segment recorded sales of INR 12,768.6mn & contributed ~47%
to FY11 revenues. Strong demand generated from high
disposable income complemented by company's strong
distribution reach, new products and preference for branded
products would lead consumer segment to grow at a 2 year
CAGR of 22.3% to INR 19,104.2mn by FY13E.
Strong competitive strength BJE has a strong distribution
network with over 1,000 distributors, 4,000 authorised dealers,
more than 450,000 retail outlets and 282 customer care centers
across India. This ensures wider penetration and better after
sales services to the consumers and hence providing it an edge
over Chinese and other players. Company leverages its strong
distribution network to market premium brand products of
international brands like Morphy Richards, Walt Disney & Trilux.
Strong brand, wide distribution reach and good products
offering by the company have been complementing the high
consumption demand resulting in strong growth.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Company Description
Bajaj Electricals Ltd (BJE) is a 72 year old company with
diversified business interest in consumer durables, lighting and
engineering & projects (E&P) luminaries, appliances, fans and
engineering and projects. Appliances business unit (BU) offers
a range of domestic appliances, including water heaters,
mixers, food processors, microwave ovens, air coolers, steam
and dry irons, electric kettles and water filters. During the fiscal
year ended March 31, 2011, it sold approximately 6.13 million
pieces of appliances. The Fans BU has a range of ceiling,
portable, fresh air and industrial air circulators. The Luminaires
BU markets a range of luminaires covering, commercial,
industrial, flood lighting and street lighting.
The company has been growing strongly at a CAGR of 26% in
last four years backed by robust growth in consumer segment
and steady growth in other divisions. Company is a dominant
player in small appliances, second largest player in luminaire
and third largest in fans. Renowned brand, collaboration with
strong foreign players, wide distribution network and strong
vendor base provides company an edge over competitors.
Consumer segment on strong footing Consumer segment
which consists of Small Appliances & Fans business units
(BUs) has been growing strongly at a 4 year CAGR of 30%. The
segment recorded sales of INR 12,768.6mn & contributed ~47%
to FY11 revenues. Strong demand generated from high
disposable income complemented by company's strong
distribution reach, new products and preference for branded
products would lead consumer segment to grow at a 2 year
CAGR of 22.3% to INR 19,104.2mn by FY13E.
Strong competitive strength BJE has a strong distribution
network with over 1,000 distributors, 4,000 authorised dealers,
more than 450,000 retail outlets and 282 customer care centers
across India. This ensures wider penetration and better after
sales services to the consumers and hence providing it an edge
over Chinese and other players. Company leverages its strong
distribution network to market premium brand products of
international brands like Morphy Richards, Walt Disney & Trilux.
Strong brand, wide distribution reach and good products
offering by the company have been complementing the high
consumption demand resulting in strong growth.
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