Bajaj Electricals CMD Shekhar Bajaj says with winter not setting in yet, sales of winter-dependent products are yet to pick up. Also, with online retailers offering such steep discounts, there is confusion in the minds of consumers.
LED products are more power efficient and can be of big advantage, Shekhar Bajaj, CMD, Bajaj Electricals said.
Bajaj electricals reported a loss of over Rs 14 crore this quarter.
Bajaj Electricals has secured fresh orders worth Rs 518 crore in the Engineering and Projects (E&P) division.
Four orders have been secured for transmission lines in Tamil Nadu and West Bengal, joint managing director Anant Bajaj said.
In an interview to CNBC-TV18, Shekhar Bajaj, chairman and managing director, Bajaj Electricals says the company‘s exploration and production business will post mild profits in the next quarter.
Bajaj Electricals is confident of clocking a 22 percent revenue growth for FY14 and similar growth in FY15 too.
Shekhar Bajaj, CMD of Bajaj Electricals, says they see no slowdown in rural markets. In fact they expect a sales growth of Rs 4200 crore for FY14.
In an interview to CNBC-TV18, Shekhar Bajaj, Chairman & MD of Bajaj Electricals says that the margins in the June quarter were impacted due to the loss in engineering & projects business.
In an interview to CNBC-TV18, Shekhar Bajaj, CMD of Bajaj Electricals spoke about the impact of rupee depreciation and his plans for the company in FY14.
Bajaj Electricals' fourth quarter net profit plunged 99 percent year-on-year to Rs 0.62 crore as the company continued to restructure its engineering and projects (E&P) business, amid what has been a year of sluggish growth across the sector.
"Both lighting and consumer durable sectors are doing well. The lighting is growing by 10-11 percent and the consumer durable 20-22 percent," says Shekhar Bajaj, chairman and MD of the company in an interview to CNBC-TV18.
Bajaj Electricals expects a pickup in engineering and products business, which has been hit by the overall slowdown in infrastructure spending, beginning next financial year, following a clean up of its existing orders, which have seen a significant cost over runs, joint MD Anant Bajaj told moneycontrol.com on Thursday.
Shekhar Bajaj, chairman & MD, Bajaj Electricals, says that the company has seen a positive growth in consumer durable and lighting segment. Compared to last year, this year or EBITDA may be slightly higher.
The overall economy may be in a slowdown, Bajaj Electricals still feels it will be able to achieve its earlier revenue guidance of Rs 3,800 crore this year, helped by strong growth in consumer durablés and lighting.
Against the Rs 3200 crore that Bajaj Electricals plans to close this year with, the company is expecting revenues to the tune of Rs 3800 crore next year, says Shekhar Bajaj, chairman and managing director.
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.
Despite a slowing down of the overall business, Bajaj Electricals is confident to register a 20% growth in the present financial year. In an interview to CNBC-TV18, the company’s chairman and managing director, Shekhar Bajaj says, "We expect as against last year's turnover of about Rs 2,760 crore, we should do around Rs 3,300 crore."
“While fixed-costs and interest rate burden played havoc with Q1, the engineering segment is likely to pick up going forward,” says Shekhar Bajaj, chairman and managing director, Bajaj Electricals. Speaking to CNBC-TV18, he says that other segments like consumer durables and lighting are doing well.
R Ramakrishnan, ED, Bajaj Electricals, tells CNBC-TV18 that the company’s growth is reliant on India’s GDP. He, however, expects organic growth to be strong, going forward.
In an interview with CNBC-TV18, Shekhar Bajaj, chairman and managing director of Bajaj Electricals, spoke about the latest happenings in his company and the road ahead.
In an interview with CNBC-TV18, Shekhar Bajaj, CMD, Bajaj Electricals, speaks about the results and gives his outlook going forward.