Bajaj Electricals shares rally 7 percent on acquiring Morphy Richards' brand rights in India for Rs 146 crore

Bajaj Electricals has approved a Rs 146 crore deal to acquire brand rights of Morphy Richards for India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka.

Shares of home appliances and cookware company Bajaj Electricals are higher by over 7 percent on acquiring the intellectual property rights of the Morphy Richards brand for India and neighbouring markets from Glen Electric for Rs 146 crore.

The brand rights of Morphy Richards - part of Irish international electrical appliances group Glen Dimplex - will be valid for India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka.

"The Board of Directors of the company, at its meeting held on September 23, 2025 has given its consent to a proposal for the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights... from Glen Electric Limited (part of the Glen Dimplex Group, Ireland), the owner of the MR Brand/Business IP, for a consideration of Rs 146 crore," the company said. This deal is exclusive of any taxes or duties payable in the territory for the transaction and will be subject definitive agreements between the parties and regulatory approvals.

Bajaj Electricals sells premium range of kitchen appliances and has a presence in the female grooming segment with products such as hair straightener, hair dryer, etc. The appliances company has a mix of legacy and new-age brands including Nex, Morphy Richards and Nirlep, and is targetting consumer preferences across design and price segments.

The products from Morphy Richards had recorded strong growth in FY25, supported by broad-based channel growth across e-commerce and modern format retail. "The Consumer Products business registered revenue growth of 5.6 percent on the back of good demand for Morphy Richards brand and domestic appliances such as air coolers," Bajaj Electricals said in the annual report. During the last fiscal, the Morphy Richards business registered a robust 24 percent growth with 'consistent positive performance' in both offline and online channels.

The consumer appliances major is pitching Morphy Richards to drive growth through 'expansion and greater market penetration', focusing on premium and lifestyle appliances targetting the lifestyle-driven consumers.

The company has chalked out a plan to predominantly invest on new product development, and had approved a budget of about around Rs 140 crore in March 2025, along with plans for a new factory. In the short term, Bajaj Electricals said it has lined up 'continued investment' in new product launches in an 'ever-changing market'.

"Bajaj Electricals is enhancing its go-to-market strategy by focusing on high-growth channels like e-commerce, including quick commerce and modern trade, while also solidifying its traditional trade channels," the company said in its annual report.

During the June quarter, the company saw 'unexpected disruptions' following a premature onset of monsoon, which had cut the summer short and impacted the consumer demand.