homebusiness NewsBajaj Electricals bets on summer sales; says rising aluminium, steel prices a concern
Bajaj Electricals bets on summer sales; says rising aluminium, steel prices a concern
Anuj Poddar, Executive Director, Bajaj Electricals, said that he expects summer sales to be good. He explained that increase in aluminium and steel prices are affecting the company.
Anuj Poddar, Executive Director, Bajaj Electricals, on Thursday, said that he expects summer sales to be good. He added that core summer products, in fact, make up for 35 percent of the company’s portfolio.
"We have not had two summers, which is in 2020 and 2021. So we are looking forward to summer 2022. Initial signs on that are positive. We are seeing good traction and movement on the secondary and tertiary sales, which means our primary sales into summer should be good," he mentioned.
"The core summer products which is fans and coolers that we deal in, constitutes close to about 30 to 35 percent of our total revenues, and that should have a strong uptick this summer unlike the last two summers; I think that's a positive there," he explained.
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Poddar mentioned that the company is facing supply-side cost pressures. He explained that increase in aluminium and steel prices are affecting them. As a result, the company is also grappling with demand issues.
"I do think there are current short-term demand challenges led by inflation, commodity side cost pressures. On the commodity, firstly, it's been led by aluminium and secondly, more recently by steel. Steel, because of a result of coal prices are going up and with a certain global shortage, I think the Indian steel suppliers are starting to look at export markets more aggressively versus supply to domestic. So these are the two leading product categories of commodities that are affecting us," he said.
Watch the video for the full interview.
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