Bajaj is the most affordable brand in India. Every house has atleast one product of Bajaj.
Bajaj Electricals Ltd (BEL) (BSE: 500031) is an Indian consumer electrical equipments manufacturing company based in Mumbai, Maharashtra. It is a part of the ₹380 billion (US$5.6 billion) Bajaj Group. It has diversified with interests in lighting, luminaries, appliances, fans, LPG based Generators, engineering and projects. Its main domains are lighting, consumer durables, engineering and projects. Lighting includes lamps, tubes and luminaires. Consumer durables include appliances and fans. Engineering and projects include transmission line towers, telecommunications towers, highmast, poles and special projects, and others include die casting, wind energy & solar energy. Some notable project includes lighting works at the Commonwealth Games stadium and the Bandra Worli Sea Link
It has 19 branch offices spread in different parts of the country with a chain of about 1000 distributors, 4000 authorised dealers, over 400,000 retail outlets and over 282 Customer Care centres.
It was incorporated on 14 July 1938 as Radio Lamp Works Limited under the Indian Companies Act, 1913 as a Public company limited. On 1 October 1960 it was renamed to Bajaj Electrical Limited. In 1964, Matchwell Electricals (India) Limited, (“Matchwell”), a manufacturer of electric fans became a subsidiary of the Company and subsequently, with effect from July 1, 1984, the business and undertaking of Matchwell was amalgamated with the Company. In the financial year 1993-1994, Bajaj Electricals entered into a joint venture with Black & Decker Corporation, United States, for the manufacture and marketing of power tools, household appliances, and related accessories, through a separate company named Black & Decker Bajaj Private Limited, (“Black & Decker Bajaj”). During the financial year 1999-2000 Black & Decker Bajaj became a 100% subsidiary of the Company upon the Company acquiring a further 50% of the shareholding thereof from Black & Decker Corporation, pursuant to which Black & Decker Bajaj was renamed as Bajaj Ventures Limited. However, in the financial year 2002-2003, the Company divested 50% of its shareholding in Bajaj Ventures Limited and Bajaj Ventures Limited ceased to be a subsidiary of the Company. In January 1998, the Company established a new manufacturing unit at Chakan near Pune and commenced operations of manufacturing of fans and die-cast components. The production of fans at the manufacturing activities of the Matchwell unit also was gradually shifted to the Chakan unit. In September 1999, Bajaj established and commissioned a wind energy generation unit with an installed capacity of 2.8 mega watts at Village Vankusawade, Tal. Patan, District Satara, Maharashtra. The facility continues to run profitably till date.
In the year 2000-2001 the Company set-up manufacturing facilities including a fabrication unit and a galvanizing plant at Ranjangaon, near Pune for the manufacture of high masts, lattice towers, and related products, and the said manufacturing facilities commenced commercial production with effect from April 1, 2001.
In November 2002, the Company entered into a technical collaboration and brand licensing agreement with Morphy Richards, United Kingdom, for the sales and marketing of electrical appliances under the brand name of “Morphy Richards” in India.
In the year 2005 the company entered into a Distribution agreement with Trilux Lenze of Germany for high end technical lighting.
In the year 2007, the company acquired 32% of the share capital of Starlite Lighting Limited, a company engaged in the manufacture of Compact Fluorescent Lamps (“CFLs”).
In 2012-2013, they have completely divested the stake and association with Black & Decker Corporation, USA.