Bajaj Electricals forms unified lighting business

Consumer durables maker Bajaj Electricals announced on Wednesday the formation of a unified lighting business by combining its consumer lighting and professional lighting businesses as part of the firm's reorganisation plan.

It has appointed Rajesh Naik as head of the lighting business and Ravindra Singh Negi as COO of its consumer products business to strengthen the leadership of the company.

The company said thatBoth executives would report to Anuj Poddar, executive director, Bajaj Electricals.

Prior to joining Havells India, Negi was president of the electrical consumer durables segment.

Naik had joined Bajaj Electricals in December 2019 and has led a turnaround of the illumination business. He has over two decades of experience in the sector.

The reorganisation and strengthening of the company's leadership is on the back of the ongoing and significant transformation journey, said Bajaj Electricals.

Over the past three years, Anuj Poddar said that the company has embarked on a significant transformation journey with a clear agenda of growth and value creation for all stakeholders.

As we look forward to our next phase of the transformation, we are committed to even more aggressive growth and to driving operational excellence across our businesses. He said that the reorganisation and strengthening of our leadership is intended to enable this.

Over the last three years, the Shekhar Bajaj-led company has undertaken several initiatives including the acquisition of further stakes in Nirlep Appliances, Starlite Lighting and the planned scheme of arrangement for a split of the entity into two publicly listed companies after a deregulation of its power infrastructure business.

In FY 22 the company, Bajaj Electricals, a part of the business conglomerate Bajaj Group, had a turnover of Rs 4,813 crore.