Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Bajaj Electricals Limited aims for aggressive growth, reorganises and strengthens leadership

Posted On: 2022-06-29 22:00:49 (Time Zone: IST)


India's leading consumer durables company - Bajaj Electricals Limited appoints Ravindra Singh Negi as Chief Operating Officer (COO) of its Consumer Products Business and Rajesh Naik as Head of the Lighting Business. Both executives will report to Anuj Poddar, Executive Director, Bajaj Electricals Limited.

Negi will join Bajaj Electricals in July 2022 from Havells India Limited, where he was President of the Electrical Consumer Durables segment. Prior to that he spent nearly two decades in Bharti Airtel Limited in various roles, with his final role being CEO of the Delhi and NCR telecom circle.

Additionally, the Company has also announced the formation of a unified Lighting Business segment by combining its Consumer Lighting Business and its Professional Lighting Business, which will be led by Rajesh Naik. Naik joined Bajaj Electricals in December 2019 and in this period has led a turnaround of the Lighting Business taking it to the leadership position in the industry. Naik has over two decades of experience in the sector.

The reorganisation and strengthening of the Company's leadership is on the back of the on-going and significant transformation journey. Over the last three years, Bajaj Electricals has undertaken multiple initiatives including the acquisition of further stakes in Nirlep Appliances Private Limited, Starlite Lighting Limited and the planned scheme of arrangement for split of the entity into two independent publicly listed companies (upon a demerger of its power infrastructure business). The planned split is likely to come into effect later this fiscal. Further, the company achieved a key strategic milestone of becoming net-debt-free as on 31st March, 2022. Having achieved these milestones, Bajaj Electricals is preparing for aggressive growth across its businesses in a focused manner.

Making these announcements, Anuj Poddar, Executive Director at Bajaj Electricals Limited said, "Over the past three years, we have embarked upon a significant transformation journey at Bajaj Electricals with a clear agenda of driving growth and value creation for all stakeholders. During this period, we have consistently demonstrated our ability to deliver on the agenda with agile decisions and focused execution even amidst a tough environment. As we look forward to our next phase of this transformation, we are committed to even more aggressive growth and to driving operational excellence across our businesses. The reorganisation and strengthening of our leadership are designed to enable this. I am pleased to welcome aboard Ravindra, who comes with a stellar professional track record and strong leadership skills. I am confident that he will be able to drive strong performance of our Consumer Products business. Further, in Rajesh, we already have a very strong leader who has successfully driven our Lighting Business to leadership position. With his widened responsibility as Head of the unified Lighting Business, I am sure that he will bring to fore his deep experience and sharper focus on this overall business to re-assert Bajaj Electricals' leadership in the Indian marketplace."

Ravindra Singh Negi, the appointed COO of Consumer Products Business at Bajaj Electricals Limited added, "Bajaj Electricals is an established leader in consumer appliances with deeply entrenched brand and distribution strengths. As an industry player I have closely watched the changes over the recent past with several new initiatives that are strengthening its competitive position as well as transforming it into a best-in-class organisation. I am excited to be joining the organisation at this juncture and to build on this momentum of transforming a strong brand legacy into a future ready consumer centric and innovative organisation. I look forward to working with the team and leaders to deliver on superior growth & competitive performance."

Commenting on his new responsibility, Rajesh Naik, Head of Lighting Business at Bajaj Electricals Limited said "The last 2.5 years at Bajaj Electricals have been immensely challenging yet gratifying as we have successfully turned around our Illumination (Professional Lighting) Business, driving its growth in an extremely tough market environment. We are now well poised in both the professional lighting business as well as in our consumer lighting business with several new product launches and innovations. I am confident that with this new unified Lighting Business segment we will be able to drive a much stronger go-to-market thrust, better synergies and cohesive operations. I look forward to working with our teams and channel partners to drive rapid growth for our business."

Shares of Bajaj Electricals Limited was last trading in BSE at Rs. 958.50 as compared to the previous close of Rs. 943.25. The total number of shares traded during the day was 6235 in over 1218 trades.

The stock hit an intraday high of Rs. 976.95 and intraday low of 932.15. The net turnover during the day was Rs. 5948554.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Infosys and Linux Foundation Networking Collaborate to Strengthen Responsible AI for Global Networks

ITC announces strategic acquisition of Pulp & Paper Undertaking of Aditya Birla Real Estate Limited

AGI Greenpac Ltd approves ~ Rs. 700 crore capex

NHPC Ltd updates on 300 MW Bikaner Solar Power Project

Prashant India Ltd enters into agreement for sale with Shantilon Poly Pvt Ltd

Trent Limited crosses operating portfolio of over 1000 fashion stores

Aditya Birla Capital Limited completes amalgamation of Aditya Birla Finance Limited

Cantabil Retail India Ltd opens 13 new showrooms

Kalpataru Projects International Ltd receives orders worth Rs. 621 crores

HCLTech elevates Public Sector expertise with launch of US subsidiary

India Glycols Limited adds 200 KLPD Ethanol capacity

FY 2024-25: Despite Supply Chain Woes, HAL Registers Revenue of Rs 30,400 Crores, Builds Capacities

Loyal Textile Mills Ltd sells part of its windmill units for Rs. 73.80 crores

Aditya Birla Real Estate Ltd streamlines portfolio - Divests Century Pulp and Paper undertaking for Rs. 3498 Cr

Artefact Projects Limited awarded project worth Rs. 241.63 lakh

Gennova Advances Pathbreaking AI-Enhanced saRNA Vaccine for one of the deadliest known viruses in collaboration with CEPI

Avenue Supermarts Ltd opens 3 new stores, increases store count to 415

Coastal Biotech Pvt Ltd starts trial runs at its Ethanol Plant

Walchandnagar Industries Limited receives contract worth Rs. 30.75 crores

GRSE Records 32 % YoY growth in the FY25

AGI Greenpac Limited to set up new Container Glass Plant in Madhya Pradesh

Triton Valves Limited signs contract with Robert Bosch GmBH

Jyoti Ltd to allot 59,63,636 shares to Rare Asset Reconstruction ltd

Avantel Ltd receives order worth Rs. 11.36 crores

Kohinoor Foods Ltd to sell rice factory for Rs. 190 crores as part of OTS

Aditya Vision Limited opens 4 showrooms at Jharkhand and UP

DCM Shriram Limited commissions new caustic soda flakes plant

Asian Granito India Limited receives IT demand notice

Newgen Software Inc. inks agreement for order worth USD 1,270,000

Blue Jet Healthcare Ltd receives demand notice from IT department for Rs. 1,93,38,55,250/- including interest

LTIMindtree announces strategic partnership with Google Cloud to drive Business Transformation with Agentic AI

NHPC commissions 3 units of Parbati-II HE project

ixigo announces APRIL FULL REFUND SALE for 1st April - 100 Lucky Travellers To Win 100% Refund on Flight Bookings

Engineers India Ltd receives orders worth Rs. 245 crores

Blue Star appoints Mohit Sud as Group President, Unitary Cooling Products

Jyoti Ltd receives Rs. 108.17 crores IT demand notice for AY 2020-21

HBL Engineering Limited receives Kavach contracts worth Rs. 762.56 crores

SPARC announces submission of IND Application for SBO-154 to USFDA

Hon'ble PM Shri Narendra Modi visits Solar Defence and Aerospace Ltd's facilities

Avenue Supermarts Ltd's store count increases to 412, opens 4 new stores today

Tera Software Ltd receives LOIs worth Rs. 273.2 crores from MVVNL

JSW Steel Ltd declared successful bidder by BCCL in the auction of Dugda Coal Washery in the State of Jharkhand

IRM Energy Ltd secures 5-Year RLNG supply agreement with Gujarat State Petroleum Corporation Limited

Uno Minda Strengthens Governance, appoints Ravi Mehra as Managing Director, and Expands Board Expertise

Manoj Vaibhav Gems 'N' Jewellers Ltd opens new Jewellery store at Narsipatnam

Income Tax Authority imposes penalty of Rs. 944.20 crore on InterGlobe Aviation Limited

Tejas Networks Ltd receives Rs. 189.1657 crore under PLI scheme

Nitco Ltd expects Rs. 100 crores on receipt of property from development of Leasehold Rights

Fusion Finance Limited fixes April 4, 2025 as record date for 55:91 rights issue

JM Financial Limited invests in rights issue of JM Financial Asset Management Ltd


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020