Bajaj Electricals looking to launch IoT-based appliances

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26 Aug, 2025 12:21

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Electrical goods maker Bajaj Electricals is looking to launch appliances modelled around Internet-of-Things (IoT).

In an interaction with Moneycontrol, Anant Purandare, CFO, Bajaj Electricals said the company is already engaged in the research and development of the products.

Purandare, however, said it is work in progress and declined to give a timeline for the launch of the products. “The idea is to not just launch new IoT-enabled products but also enhance the capacity of our existing products,” he added.

The company that reported its Q1 numbers posted a 98 percent year-on-year (YoY) growth in its net profit for the June quarter to Rs 40.5 crore, on the back of strong growth in its consumer durables business.

The consumer durables segment overtook engineering, procurement, and construction (EPC) to become the largest contributor to the company's overall revenue.

Purandare explained that all the sub-segments within consumer durables saw an increase in revenue during the first quarter. He said the fans segment grew 41 percent, appliances by 22 percent and lighting by 35 percent.

Once the company completes the Nirlep Appliances acquisition, it will add to overall revenue, he said. “In the initial phase, they will operate as a subsidiary of Bajaj Electricals. After a few years, they will be merged into the company, though Nirlep as a brand will continue to exist in the market,” he added.

Bajaj Electricals’ revenue from the EPC business fell 3 percent on year in the quarter under review to Rs 542.96 crore. He pointed out the drop was because of the weaker performance of luminary and illumination verticals within the EPC segment.

The costs incurred towards initial set up of infrastructure for new orders received for power distribution in Uttar Pradesh has impacted the margins of the EPC segment, as there is no corresponding revenue against these costs. Purandare said the execution of these new orders has already commenced and will boost the revenue of the segment in the coming quarters.