Mumbai: Bajaj Electricals Ltd (BEL)’s board has given the go-ahead to acquire the Morphy Richards brand across India, Sri Lanka, Nepal, Bhutan, the Maldives and Bangladesh. The deal is expected to be worth Rs.146 crore, excluding taxes and other duties.
“We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., on September 23, 2025 (“Board Meeting”), has given its consent to a proposal for the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights (“Business IP” / “MR Brand”) in the territories of India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka (“Territory”), from Glen Electric Limited (part of the Glen Dimplex Group, Ireland), the owner of the MR Brand/Business IP, for a consideration of INR 146 crore,” Bajaj Electricals announced in a regulatory filing.
The company has been a laggard in the home appliances space, with the company struggling to compete with emerging brands like Havells, Crompton Greaves, Atomberg and Agaro. It was already marketing mixers, toasters, coffee makers and other home appliances through the Morphy Richards brands since 2002. This acquisition will help the company expand the brand better, hoping to compete in an increasingly fragmented market where disruptive D2C brands have threatened the dominance of established players in the $11 billion-plus industry.
Bajaj Electricals seen its revenues decline 8.07% year on year to Rs.1,059.23 crore, even as the company saw a sharp 96.76% decline in consolidated net profit from Rs.28.11 crore in Q1FY25 to Rs.0.91 crore in Q1FY26. The company has lost 36% of its share value in the past one year, as lower margins and intense competition hurt its bottom line.
With brand loyalty at an all-time low, and with newer competitors joining the fray, Bajaj Electricals will have to take the road less taken to stand out.
