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.
These products are priced between Rs 6,000 to Rs 30,000 and will be made available in the Indian market starting first week of September
The company has been procuring products from manufacturers and/or importing from any other country for marketing the same in India under the agreement since April 2002.
The negative growth of around 31 percent in the lighting segment led to - 5.4 percent growth in consumer products, which in turn was the reason for a poor second quarter performance, said Shekhar Bajaj, Chairman & Managing Director, Bajaj Electricals.
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.
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.
Bajaj Electricals is aggressively tapping rural markets to maintain its lead in an increasingly competitive consumer appliances business as it bets on first time users in small towns and villages to power growth over the next decade.