An electricity pole provided under the Deendayal Upadhyaya rural electrification scheme is silhouetted as it stands with a junction box and cables attached to it in the village of Fateh Nagla, Uttar Pradesh, India (Photographer: Prashanth Vishwanathan/Bloomberg)

Bajaj Electricals Aims To Clock Double-Digit Growth This Financial Year

Bajaj Electrical Ltd. expects to clock double digit growth from the engineering, procurement and construction segment in the current financial year, as the company aims to take on competitors, said its Chairman and Managing Director Shekhar Bajaj.

The company currently has an order book of more than Rs 8,000 crore, Gupta told BloombergQuint in an interaction. The company, has “enough orders” to be executed properly, and is not looking at any further power distribution projects for rural electrification in the next couple of years. And that he said will not affect the margin.

Bajaj Electricals said in a regulatory filing yesterday that it has bagged orders for rural and urban electrification projects in Uttar Pradesh from Madhyanchal Vidyut Vitaran Nigam Ltd. Lucknow amounting to Rs 3,577.93 crore.

Shares of the consumer electrical equipment maker rose as much as 7.6 percent to a record high at Rs 665.95.