Bajaj Electricals to shut down operations at Shikohabad Unit today; Stock trades flat

4 Jan 2022 , 03:24 PM

Bajaj Electricals board of directors have considered and approved the proposal for permanent closure of operations at the aforesaid Shikohabad Unit.

The Company’s Shikohabad Unit accounted for total revenue of Rs33.46cr for the year ended March 31, 2021 (representing 0.72% contribution to the Company’s total income for the financial year ended March 31, 2021), whereas it contributed Rs4.44cr loss (before tax) to the Company during the same period.

“Considering the unsatisfactory performance of the Unit with continued operational losses in spite of attempts to turn it around, making it unviable to continue running the Unit,” Bajaj Electricals added.

The transaction is said to be closed today (January 04, 2022).

At around 3.21 pm, Bajaj Electricals was trading at Rs1286.50 per piece flat compared to the previous closing.