“Over the past couple of years, the Power Transmission and Power Distribution business verticals have sharpened their operational focus, ensuring project closures, increased cash flows, reduction in receivables and repayment of most of the debt, whilst simultaneously focusing on health and safety and ESG in general. We believe the time is now ripe to build further on this and review our structures to enable unconstrained business growth for each business segment. We will continue to leverage our legacy and our strengths in our people, project management, operations and manufacturing, to better serve our customers and all stakeholders.”
(Shekhar Bajaj, Chairman & Managing Director, Bajaj Electricals Ltd, was quoted saying this in a company statement. The statement, dated December 9, 2021, announced that the board of directors of Bajaj Electricals Ltd (BEL) has authorized the BEL management to evaluate and recommend the proposal of housing the Power Transmission and Power Distribution business verticals as a standalone/independent legal entity.)