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Home appliances major Bajaj Electricals Ltd eyes 20 per cent growth in turnover this fiscal to nearly Rs 3,700 crore. “The company’s total revenue stood at Rs 3,200 crore in 2011-12. It is expected to increase up to Rs 3,700 crore at the end of this fiscal,” Shekhar Bajaj, Chairman and Managing Director, told reporters here on the sidelines of the 12th AGM of Indian Fan Manufacturer Association.
The company is betting big on induction cooker sales as the Union Government announced a cap on domestic use of LPG (up to six cylinders a year for one household).
“We are already No 2 in terms of induction cooker sales. This decision will certainly boost sales further. The expenditure on electricity will boil down to almost same as a subsidised LPG cylinder,” Bajaj said.
Bajaj Electricals has earmarked nearly Rs 1,000 crore for acquisition to strengthen its presence in areas such as home appliances and lighting. According to Bajaj, the company had been exploring acquisition opportunities since last year.
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