|Shekhar Bajaj in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury
Calcutta, Sept. 25: Bajaj Electricals is looking to acquire a fan appliance and lighting business for Rs 1,000 crore.
“We can go for total Rs 1,000 crore acquisition,” chairman and managing director Shekhar Bajaj said on the sidelines of the annual general meeting of the Indian Fan Manufacturers’ Association here today.
“We have a very strong distribution network and a good manufacturing backup. If we acquire a good brand, that will make good sense,” he said, adding that the acquisition will take place in the company’s existing business segments.
Bajaj Electricals is also expecting revenues of Rs 70-75 crore in this fiscal through exports after merging Bajaj International with itself earlier this year.
As part of the reconstruction process, the company had taken in the employees of Bajaj International.
“We will be able to gain access to 30-40 countries after the restructuring exercise. We are eyeing export earnings of Rs 70-75 crore this financial year,” Bajaj said.
He added that the company was expecting strong business in West Asia and Africa.
The company, which had clocked Rs 3,200 crore in revenues last fiscal, is eyeing a turnover of Rs 3,700 crore at the end of this financial year.