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Bajaj Electricals Ltd. — Board/Management Information 2025
Mar 28, 2025
60535_rns_2025-03-28_6ec32cfb-0129-4d89-92a1-cd510effee40.pdf
Board/Management Information
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March 28, 2025
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To, BSE Limited : Code No. 500031 Department of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001
National Stock Exchange of India Limited : BAJAJELEC - Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Dear Sir/Madam,
Sub.: Outcome of the Board Meeting of Bajaj Electricals Limited (“Company”) held today i.e., Friday, March 28, 2025
Dear Sir/Madam,
Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), read with Schedule III to the SEBI Listing Regulations and any circulars or industry standards issued by the Securities and Exchange Board of India in this regard, we hereby inform you that, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company (“Board”), at its meeting held today, i.e. Friday, March 28, 2025 (“Meeting”) (which commenced at 03:00 p.m. and concluded at 3:40 p.m.), has, inter alia, considered and approved the following matters:
- Appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as the Managing Director & Chief Executive Officer of the Company:
Subject to the approval of the shareholders by way of postal ballot, the Board approved the appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as an additional director (in the category of executive/whole-time director) with the designation and title of ‘Managing Director & Chief Executive Officer’, liable to retire by rotation, for a term of three (3) years, with effect from April 15, 2025.
Mr. Sanjay Sachdeva is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India or any other such authority. Further, as affirmed by him, he is not disqualified from holding the office of Director pursuant to the provisions of Section 164 of the Companies Act, 2013.
The details/disclosures, as required under Regulation 30 of the SEBI Listing Regulations, read with the SEBI Master Circular No.SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (“SEBI Circular”), are provided in Annexure A. We also enclose herewith a Press Release by the Company in this regard.
- Designation as Key Managerial Personnel of the Company, effective from April 15, 2025:
In view of the appointment of Mr. Sanjay Sachdeva as the Managing Director & Chief Executive Officer of the Company, the Board, at its Meeting, designated him as the Key Managerial Personnel of the Company in place of Mr. Shekhar Bajaj, Executive Chairman, with effect from April 15, 2025.
The details/disclosures required under Regulation 30 of the SEBI Listing Regulations, read with the SEBI Circular, are provided in Annexure B .
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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001 Tel: +91 22 6110 7800 | Email: [email protected] | CIN: L31500MH1938PLC009887
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- Designation of Mr Anand Joshi, existing Chief Technology Officer of the Company, as Senior Management Personnel of the Company
The Board, at its Meeting, designated Mr. Anand Joshi, the existing Chief Technology Officer of the Company, as Senior Management Personnel of the Company.
The details/disclosures required under Regulation 30 of the SEBI Listing Regulations, read with the SEBI Circular, are provided in Annexure C .
We request you to take the above on record and the same be treated as compliance under the applicable provisions of the SEBI Listing Regulations.
Thanking you,
Yours faithfully, For Bajaj Electricals Limited
Prashant Digitally signed by Prashant Anant Dalvi Anant Dalvi Date: 2025.03.28 15:46:23 +05'30'
Prashant Dalvi Chief Compliance Officer & Company Secretary (ICSI Membership No.: A51129)
Encl.: As above.
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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001 Tel: +91 22 6110 7800 | Email: [email protected] | CIN: L31500MH1938PLC009887
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Annexure A
| Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024): Appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as the Managing Director & Chief Executive Officer of the Company |
Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024): Appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as the Managing Director & Chief Executive Officer of the Company |
Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024): Appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as the Managing Director & Chief Executive Officer of the Company |
|---|---|---|
Appointment of Mr. Sanjay Sachdeva |
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of the Company |
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| Reason for change viz. appointment,~~resignation, removal,~~ ~~death or otherwise~~ |
Based on the recommendation of the Nomination and Remuneration Committee, and subject to approval by the shareholders through postal ballot, the Board of Directors of the Company, at its meeting held today, i.e., Friday, 28 March 2025, approved the appointment of Mr. Sanjay Sachdeva (DIN: 11017868) as an additional director (in the category of executive/whole-time director) with the designation and title of ‘Managing Director & Chief Executive Officer’, liable to retire by rotation, for a term of three (3) years, with effect from April 15, 2025. |
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| Date of appointment~~/re-~~ ~~appointment/cessation~~ ~~(as~~ ~~applicable)~~ ~~&~~ ~~t~~erm of appointment/re-appointment |
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| Brief Profile (in case of appointment) |
Sanjay Sachdeva graduated as an Electrical Engineer from the Indian Institute of Technology (IIT Delhi) and later pursued his Master’s degree in Management from the Indian Institute of Management (IIM Calcutta). He was the recipient of the prestigious B.C. Roy Gold Medal—presented by the President of India—recognizing the top student in the graduating class. Sanjay began his career at Hindustan Unilever as a management trainee and has since spent over 33 years with Unilever in various leadership roles across Sales, Marketing, and General Management. Most recently, he served as the CEO and MD of Unilever Japan, based in Tokyo. With extensive experience in scaling and leading consumer goods markets across India, China, Brazil, Japan, North Africa, the Middle East, and Russia, he has consistently driven profitable growth in highly competitive environments. His key achievements include successfully turning around businesses across geographies, delivering strong business results in volatile market conditions, and strengthening talent and organizational capabilities. Having lived in five countries across three continents, Sanjay has witnessed firsthand the power of diverse cultures and perspectives. He is deeply committed to Sustainability and Diversity & Inclusion (D&I), collaborating with businesses and government bodies and has been an active spokesperson in various industry forums. A passionate advocate for gender equality, he has championed Diversity & Inclusion within organization, earning recognition from the British Chamber of Commerce Japan. |
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| Disclosure of relationships between directors (in case of appointment of a director) |
Mr. Sanjay Sachdeva is not related to any member of the Board of Directors, Key Managerial Personnel, or Promoters of the Company. |
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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001 Tel: +91 22 6110 7800 | Email: [email protected] | CIN: L31500MH1938PLC009887
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Annexure B
Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024):
Designation as Key Managerial Personnel of the Company, effective from April 15, 2025
| Reason for change viz. appointment, resignation, removal, death or otherwise |
The Board, at its meeting held today, i.e. Friday, March 28, 2025, designated Mr. Sanjay Sachdeva (DIN: 11017868) as a Key Managerial Personnel (KMP) of the Company in place of Mr. Shekhar Bajaj, Executive Chairman. Accordingly, Mr. Bajaj shall cease to be a KMP with effect from April 15, 2025. A copy of Mr. Bajaj’s letter dated March 28, 2025, acknowledging his cessation as a KMP, is enclosed asAnnexure D. |
The Board, at its meeting held today, i.e. Friday, March 28, 2025, designated Mr. Sanjay Sachdeva (DIN: 11017868) as a Key Managerial Personnel (KMP) of the Company in place of Mr. Shekhar Bajaj, Executive Chairman. Accordingly, Mr. Bajaj shall cease to be a KMP with effect from April 15, 2025. A copy of Mr. Bajaj’s letter dated March 28, 2025, acknowledging his cessation as a KMP, is enclosed asAnnexure D. |
|---|---|---|
| Date of appointment/re- appointment/cessation (as applicable) & term of appointment/re-appointment |
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| Brief Profile (in case of appointment) |
Not applicable. | |
| Disclosure of relationships between directors (in case of appointment of a director) |
Not applicable. |
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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001
Tel: +91 22 6110 7800 | Email: [email protected] | CIN: L31500MH1938PLC009887
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Annexure C
Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024):
Designation of Mr Anand Joshi, existing Chief Technology Officer, as Senior Management Personnel of the Company
| Reason for change viz. appointment~~, resignation, removal,~~ ~~death or otherwise~~ |
Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company, at its meeting held today, i.e. on Friday, March 28, 2025, designated Mr. Anand Joshi, the existing Chief Technology Officer of the Company, as Senior Management Personnel of the Company. Terms of appointment:Full-time employment. |
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|---|---|---|---|
| Date of appointment/~~re-~~ ~~appointment/cessation~~ ~~(as~~ ~~applicable)~~ ~~&~~ term of appointment/re-appointment |
|||
| Brief Profile (in case of appointment) |
Anand Joshi is a technology and engineering management executive with 32 years of experience in Technology and Research, Innovation to Commercialization, R&D Strategy and Operations roles at global conglomerates. Anand worked across industries like Aerospace, Consumer Products, Electrical Switchgear, Precision Manufacturing and Heavy Engineering, leading business and corporate R&D functions. Prior to Bajaj Electricals Limited, Anand worked in various R&D Executive positions with General Electric, Eaton Aerospace, Whirlpool, BSH and L&T. Anand is graduate in Mechanical Engineering from College of Engineering Karad with Executive MBA from Indian School of Business. Anand, in the past, has been on SAE India Aerospace board as well on NASSCOM R&D Council. |
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| Disclosure of relationships between directors (in case of appointment of a director) |
Not applicable. |
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Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai 400 001 Tel: +91 22 6149 7000 | www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400 001 Tel: +91 22 6110 7800 | Email: [email protected] | CIN: L31500MH1938PLC009887
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Electricals
BAJAJ
Date: March 28, 2025
To
The Board of Directors Bajaj Electricals Limited 45-47, Veer Nariman Road, Mumbai 400001.
Sub.: Acknowledgment of Cessation as Key Managerial Personnel (KMP), effective from April 15, 2025
Dear Board Members,
I, Shekhar Bajaj (DIN 00089358), acknowledge that, in light of the appointment of Mr. Sanjay Sachdeva (DIN 11017868) as the Managing Director & Chief Executive Officer of the Company, and his designation as a KMP in my place, effective from April 15, 2025, I shall cease to be a KMP of the Company from that date.
I wish to confirm that this change does not impact my role and responsibilities as the Executive Chairman of the Company.
Please consider this letter as formal confirmation of the above.
Yours sincerely,
( a ·�
Shekhar Bajaj Executive Chairma Bajaj Electricals Limited
Corporate Office: Mulla House 51, Mahatma Gandhi Road, Mumbai - 400001 Tel: +91 22 6149 7000 I www.bajajelectricals.com
Registered Office: 45/47, Veer Nariman Road, Fort, Mumbai 400001. Tel.: +91 22 6110 7800 I Email: [email protected] I CIN: L31500MH1938PLC009887
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PRESS RELEASE
28[th] March, 2025, Mumbai
Sanjay Sachdeva Appointed as Managing Director and Chief Executive Officer at Bajaj Electricals Limited
Bajaj Electricals Limited today announced the appointment of Mr. Sanjay Sachdeva as the Managing Director and Chief Executive Officer, effective from 15[th] April 2025.
Joining Hindustan Unilever as a Management Trainee in 1989, Sanjay spent over three decades at the conglomerate, moving across various marketing, sales, and general management leadership roles. Through his over thirty-year long tenure at Unilever, he has held key leadership positions across Brazil, China, the Middle East, North Africa, Turkey, and Russia. His latest assignment with the organisation was with Unilever Japan, where he held the position of Managing Director and Chief Executive Officer.
In his new role at Bajaj Electricals, Sanjay will be responsible for managing all the business verticals and their operations.
Commenting on the appointment, Mr. Shekhar Bajaj, Chairman of Bajaj Electricals , said, “I am delighted to welcome Sanjay as our new MD & CEO. Having worked in various countries, including India, he brings a fresh perspective and a strategic vision that aligns with our goal of delivering exceptional value to our consumers and stakeholders. We are confident that under his leadership, Bajaj Electricals will continue to thrive and achieve new heights, and I look forward to working with him in building a global organisation.”
Speaking on the occasion, Mr. Sanjay Sachdeva said, “I am honoured to join Bajaj Electricals, a company with a rich heritage and a strong reputation for innovation, quality, and ethics. I look forward to working with the Chairman, Mr. Shekhar Bajaj, and the talented team at Bajaj Electricals to drive sustainable growth and create significant long-term value for all our stakeholders.”
Bajaj Electricals Limited is a globally renowned Indian Consumer Appliances and Lighting Solutions company. Headquartered in Mumbai with a turnover of INR INR 4,641 crores (FY 23-24), it is a part of the $100 bn multinational conglomerate Bajaj Group founded by Shri Jamnalal Bajaj. The Company was established in 1938 and has stood the test for more than 86 years. It continues to enjoy consumer trust across various sectors it operates in and remains at the forefront of developing modern, technologically superior and aesthetic products and solutions. Bajaj Electricals’ business portfolio spans Consumer Products (Appliances, Fans, Cookware) and Lighting Solutions (Consumer and Professional Lighting). They are a front runner in the industry with their key brand offerings comprising BAJAJ, Nirlep, Morphy Richards and Nex. Under their Lighting Solutions business, they offer a wide range of innovative LED lamps and fixtures, including panels and battens, to consumers and are known for their prowess in street lighting, sports lighting, industrial commercial and infrastructural lighting, and undertaking specialised illumination projects on a turnkey basis amongst other solutions.
Media Queries contact: Prajakta Kute Prajakta.Kute@genesis-bcw.com
Nupur Joshi nupur.joshi@bajajelectricals.com