Bajaj Electricals Limited announced the formation of a unified Lighting Business segment by combining its Consumer Lighting Business and its Professional Lighting Business, which will be led by Rajesh Naik. Naik joined Bajaj Electricals in December 2019 and in this period has led a turnaround of the Lighting Business taking it to the leadership position in the industry. Naik has over two decades of experience in the sector.

The reorganisation and strengthening of the Company's leadership is on the back of the on-going and significant transformation journey. Over the last three years, Bajaj Electricals has undertaken multiple initiatives including the acquisition of further stakes in Nirlep Appliances Private Limited, Starlite Lighting Limited and the planned scheme of arrangement for split of the entity into two independent publicly listed companies (upon a demerger of its power infrastructure business). The planned split is likely to come into effect later this fiscal.

Further, the company achieved a key strategic milestone of becoming net-debt-free as on 31st March, 2022. Having achieved these milestones, Bajaj Electricals is preparing for aggressive growth across its businesses in a focused manner.