'Left Bajaj Electronics to pursue personal goals'

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'Left Bajaj Electronics to pursue personal goals'

R Ramakrishnan, executive director of Bajaj Electricals will leave the company on March 1. In an interview to CNBC-TV18, R Ramakrishnan says, he has left Bajaj Electronics to pursue personal goals.

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R Ramakrishnan, executive director of Bajaj Electricals will leave the company on March 1.

In an interview to CNBC-TV18, R Ramakrishnan says, he has left Bajaj Electronics to pursue personal goals. "There has not been any push factor, but the pull factor in the environment is very strong," he adds.

Commenting on the company, he says, he expects January-March quarter to be a good quarter.

Below is the edited transcript of his interview with CNBC-TV18's Gautam Broker and Latha Venkatesh. Also watch the accompanying video.

Q: What is the reason for this sudden decision to quit Bajaj?

A: I have been a professional of 30 years standing, 17 years in Asian Paints, about 12-13 years in Bajaj Electricals. Rather I am fashionable changing a job only once in 30 years. So, I just thought I will have some adventure.

Q: Is this because of something that is not going your way in Bajaj Electricals or is it that you are starting off on your own? Where are you going to? What is the trigger for this departure?

A: At any point in time, as a professional, there are multiple opportunities. I think having joined Bajaj Electricals 12 years ago, taken it from a Rs 300 crore company to what will be a Rs 3,200 crore company this year, multiplying the market-cap many times, multiplying the profitability from may be just about a profit after tax (PAT) of Rs 1 crore to a PAT of Rs 145 crore etc, I think I have added tremendous value in the context of Bajaj Electricals.

Probably there are some opportunities in the environment, something which is a lot more entrepreneurial, something where there are opportunities to drive, change and transformation agendas and create significant value for stakeholders. So, I will be announcing my plans in due course, but there is something very interesting.

As far as Bajaj Electricals is concerned, I think its fantastic organisation. I take great pride in having contributed to Bajaj Electricals ad also to Asian Paints. I am looking forward to the next mountain to conquer.

Q: The stock is down 6% today. Generally, when one of the top management leaves, there is a perception in the market that growth could be peaking off. Is that a reason or is this perception a wrong one if you can try and rectify it?

A: I think it's an absolutely wrong perception. Bajaj Electricals is a fantastic organisation. We have a great team of people. We have a tremendous distribution, a lot of depth in our product range, tremendous brand strengths. We have created an organisation that I will be proud of. So, to that extent, I think the business is on a very firm footing, particularly on the consumer, we are leaders in appliances. We are number two in lighting and luminaries. We are number three in fans. Morphy Richards is a very powerful brand an MNC brand. So, to that extent, I think the fundamentals are in place.

On the engineering and project side, there are some challenges, which are there, which we are obviously going to overcome in the near future. I am expecting a good quarter as far as the January-March quarter is concerned. So, there has not been any push factor, but the pull factor in the environment is very strong.