Launching a wide range of LED lighting systems for commercial and home applications, Bajaj Electricals Limited today hinted at a strong 18 to 20 per cent growth in the lighting business this financial year over Rs 930 crore, it logged last year.
At an event .nxtupgrade hosted here to interact with its customers, Bajaj Electricals introduced a sub-brand .nxt aimed at helping its customers to upgrade to the latest range of LED fittings and lighting systems.
R Sundararajan, President of Lighting Business Group of Bajaj Electricals Limited (BEL) and Director of Hind Lamps Limited said the Lighting Division of the Bajaj Electricals expects a strong growth momentum with its new range of products and lighting systems that cover not just commercial, home lighting but also street lighting systems.
Commanding a pan-India market share of over 18 per cent in the domestic lighting market of Rs 3,000 crore, the company expects the share to increase during the course of the year backed by new products and growing penetration of LED lighting systems.
“The prices of LED lighting systems have come down to about Rs 180 per bulb as against about Rs 300 some time ago. This is a good entry point for people. Yet for many, this may be high compared to other lighting systems. However, over the next four to five years, we expect to see the entire lighting system gradually but certainly driving towards the LED fitments,” he explained.
Referring to the recent tenders that were floated by various State Governments for supply of LED lighting system, he said the pricing offered there has been extremely competitive at about Rs 70 per bulb. This is quite low as the actual market price is about Rs 180 per bulb. In a bulk supply environment, Lighting manufacturers do get into such supply contracts, even though they are not remunerative, he explained.
The company, which closed last fiscal with a turnover of about Rs 4,300 crore, has also identified solar power system as one of the thrust areas. Where solar street lights are manufactured using latest technologies and have easy installation process, longer service life and high performance.