Bajaj Electricals - Exit Of Two Key Senior Managerial Personnel May Have Short-Term Impact: ICICI Securities

ICICI Securities Report

The exit of two senior management members i.e. Anuj Poddar, Managing Director and Chief Executive Officer and Ravindra Singh Negi, COO - Consumer Products may have near-term impact on Bajaj Electricals Ltd.'s business strategy, in our view.

However, we are confident that long-term growth potential remains intact as:

1. The strategy of ‘house of brands’ is likely to continue with strong investments in Nex premium products and re-launch of Nirlep.

2. The company has achieved strong distribution reach of over 0.2 million outlets. It also has the best distribution reach in rural markets among peers. We model Bajaj Electricals company to be net beneficiary of revival in rural markets.

3. It plans to induct Vishal Chadha as COO-Consumer Products w.e.f. August 2024.

There is already strong managerial talent with Rajesh Naik leading the lighting segment and EC Prasad driving strategy and finance.

We believe any correction in stock price may be a buying opportunity for longterm investors. We remain constructive. Maintain Add.

Click on the attachment to read the full report: 

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.