JOIN USConsumer equipment maker Bajaj Electricals' order book position as on January 15, 2014 stood at about Rs 2,100 crore of which it expects to complete projects worth Rs 500 crore in the current quarter, the company's CMD Shekhar Bajaj said.
He also said, “We hope to complete about 24 projects this quarter (Q4), after having executed around 12 in the third quarter. There will be some hit on the profits of the company as a consequence, something that generally happens in such projects.”
Bajaj was speaking to reporter here on Friday.
He added that despite the overall slump in the economy, his company would post 24 per cent growth in sales during the current financial year to Rs 4,200 crore, up from Rs 3,387 crore in 2012-13.
He said that engineering and projects that accounted for 20 per cent of revenues in 2012-13, would go up to 30 per cent in 2013-14.
Bajaj also said that his company plans to foray into non-electrical appliances shortly.
On fans, Bajaj said that the market that grew at about 20 per cent between 2002 to 2010 due to a shift from unorganised players to organised ones, has now stabilised. “The fan market is estimated at about 4 crore units in India valued at about Rs 6,000 crore, of which Bajaj Electricals has 16 per cent share,” he said.
Though he declined on financial results for the third quarter, he said that the company's consumer durables segment grew 15 per cent and lighting segment grew about 20 per cent.