Bajaj Electricals , a prominent player in the Indian consumer electrical equipment market, has announced a significant change to its board composition. At the company's 86th Annual General Meeting (AGM) held on August 7, 2025, shareholders approved the appointment of Nirav Nayan Bajaj as a Non-Executive Director, effective from May 12, 2025.

Board Approval and Shareholder Ratification

The appointment of Nirav Bajaj was initially approved by the Board of Directors on May 12, 2025, based on recommendations from the Nomination and Remuneration Committee. This decision was subsequently ratified by shareholders at the AGM.

About Nirav Nayan Bajaj

Nirav Bajaj brings a wealth of experience and education to his new role at Bajaj Electricals:

• Education: Mechanical Engineering degree from Brunel University and an MBA from Harvard Business School
• Professional Experience: Worked at global consulting firms Bain & Company and Roland Berger on diverse strategic assignments in India

Career Progression

Bajaj's career trajectory showcases his versatility and leadership skills:

• 2014: Joined Hercules Hoist Ltd. (HHL), focusing on transformative projects including product rationalization and new product development
• 2019: After completing his MBA, returned to the family business, joining Mukand Limited in August
• Current roles: Board Member on several group companies, including:
  • Mukand Sumi Special Steel Limited
  • Consolidated Swift Industries Limited
  • Bajaj Vitality Private Limited
  • Indef Manufacturing Limited
  • Hospet Steels Limited

Independence and Expertise

The company disclosed that Nirav Bajaj is not related to any existing Directors, emphasizing the independent nature of his appointment. His diverse experience across multiple industries and educational background are expected to bring fresh perspectives to Bajaj Electricals' board.

Looking Ahead

As Bajaj Electricals continues to navigate the competitive landscape of the electrical equipment industry, the addition of Nirav Nayan Bajaj to its board signals the company's commitment to bringing in diverse expertise. His appointment is likely to contribute to the company's strategic direction and governance in the coming years.

The shareholders' approval of this appointment at the AGM reflects confidence in Nirav Bajaj's potential contributions to Bajaj Electricals' future growth and success.

Bajaj Electricals , a prominent player in the consumer electrical equipment sector, has announced its financial results for the first quarter ended June 30, 2025, along with several strategic decisions made by its Board of Directors.

Financial Performance

For Q1 FY2026, Bajaj Electricals reported:

• Net sales of Rs 1,059.23 crore
• Net profit of Rs 8.93 crore

The company's performance was driven by its two main segments:

• Consumer Products: Revenue of Rs 807.00 crore
• Lighting Solutions: Revenue of Rs 257.59 crore

Segment-wise Performance

The Consumer Products segment faced challenges, reporting a loss before tax and finance cost, while the Lighting Solutions segment demonstrated strong profitability.

Strategic Decisions

Review of Nirlep Business

The Board of Directors has approved a comprehensive review of the 'Cookware and Pressure Cooker Business' under the 'Nirlep' brand. This review includes exploring strategic options such as:

• Discontinuation
• Sale
• Hive-off of the business unit

The Nirlep business operates two manufacturing units in Chhatrapati Sambhajinagar, Maharashtra. The Board has authorized the management to commence the evaluation and exploratory process for these strategic alternatives.

Change in Registered Office

Bajaj Electricals has approved changing its registered office from:

• Current: 45/47, Veer Nariman Road, Mumbai - 400001
• New: Mulla House 51, Mahatma Gandhi Road, Mumbai - 400001

This change is within the same city and under the jurisdiction of the same Registrar of Companies.

Senior Management Appointment

The Board has designated Mr. Milind Korgaonkar, the existing Chief Information Officer (CIO), as Senior Management Personnel of the company. Mr. Korgaonkar, who also serves as Chief Digital Officer (CDO), brings over 30 years of expertise in IT Strategy, Digital Transformation, Applications, Infrastructure, Security, and Risk Management to his expanded role.

Stock Options Grant

In a separate announcement, Bajaj Electricals' Nomination and Remuneration Committee approved the grant of 2,50,247 stock options to 194 eligible employees under the 'Bajaj Electricals Limited- Performance Stock Option Plan 2023' (PSOP Plan 2023). The exercise price for these options is set at Rs. 2.00 per equity share, which is equal to the face value of the company's shares.

These financial results and strategic decisions reflect Bajaj Electricals' efforts to navigate market challenges while positioning itself for future growth and operational efficiency.