Bajaj Electricals Ltd has launched premium segment of lighting range including LED lights in South India in a phased manner beginning Hyderabad.
These products have been brought to India through a tie-up with Megaman, a Hong Kong-based company, and other range includes Hyperion and LEDZ. The company products are manufactured in three factories in the country apart from being sourced from overseas partners.
Launching the new product range which was test-rolled in Gujarat, Mr. C.G.S. Mani, Executive President-Lighting, Bajaj Electricals, said that the company is aiming at a revenue of Rs 551 crore from lighting business this year, registering a growth of about 30 per cent over last year’s Rs 430 crore.
“These new products, including the LED range and fluorescent lights, will help reach out to new markets and increase the revenues,” he said.
Referring to Bajaj Electricals, which has six business units including appliances, fans, lighting, luminaries and Morphy Richards, Mr Mani said the company expects to cross revenues of Rs 4,000 crore this year up from Rs 3,099 crore it logged last fiscal.
Mr Mani said that about 18 per cent of the country’s energy is consumed for lighting requirements. It is possible to bring down this percentage by using energy efficient products such as fluorescent and LED lights. However, India being a cost sensitive market, the challenge is to bring down the prices to help in mass adaption.
Referring to the initiative of Reliance ADAG in supply of fluorescent lamps in Mumbai, he said that this has helped reach out more than 7 million bulbs to consumers.