Bajaj Electricals eyes Rs 1,000 cr buys

Sep 25 2012, 21:57 IST
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Bajaj Electricals eyes Rs 1,000 cr buys (Reuters) Bajaj Electricals eyes Rs 1,000 cr buys (Reuters)
SummaryBajaj Group company Bajaj Electricals Ltd is scouting for acquisition, with a corpus of Rs 1,000 crore.

Bajaj Group company Bajaj Electricals Ltd is scouting for acquisition, including brands in electricals and lighting with a corpus of Rs 1,000 crore.

"We can go for acquisition worth even Rs 1,000 crore," Bajaj Electricals Ltd Chairman and Managing Director Shekhar Bajaj told reporters here on the sidelines of the fan makers annual general meeting.

"We have a very strong distribution network and a very good manufacturing backup. If we acquire a good brand, that will make good sense," Bajaj said.

Bajaj specified that the proposed acquisitions would take place in the company¿s existing business segments.

"There is enough scope in existing businesses so there is no need to get into new areas," Bajaj said.

The company had clocked Rs 3,200 crore revenue in the last fiscal and is eyeing a turnover of Rs 3,700 crore this fiscal, he said.

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