Bajaj Electricals gets nod for permanent closure of Shikohabad unit

04 Jan 2022 Evaluate

Bajaj Electricals has received approval from its board for permanent closure of its manufacturing unit located at Shikohabad in Uttar Pradesh. The step has been taken considering the ‘unsatisfactory performance of the unit with continued operational losses’ in spite of attempts to turn it around, making it unviable to continue running the unit. Bajaj Electricals had acquired the Shikohabad-based unit from Hind Lamps in 2018.

The Shikohabad unit accounted for a total revenue of Rs 33.46 crore for the year ended March 31, 2021, representing a 0.72 per cent contribution to Bajaj Electricals' total income for the financial. It had reported a loss before tax of Rs 4.44 crore to the company during the same period.

Bajaj Electricals is an electrical equipments manufacturing company. It is engaged in the manufacturing of domestic appliances such as water heaters, mixers, food processors, microwave ovens, air coolers, steam & dry irons, etc.


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