The collaboration marks a significant step toward delivering intelligent, energy-efficient lighting systems using SEAK’s proprietary power line control technology.
Under the terms of the three-year agreement, SEAK will provide lighting control electronics and software, which Bajaj Electricals will resale, and deploy across supply, installation, testing, and commissioning (SITC) of tunnel projects across India. The company also holds exclusive rights to the Indian market, with potential for expanding the partnership internationally on a project-by-project basis.
No upfront payment was involved in the deal; instead, the agreement is governed by mutually agreed commercial arrangements such as pricing, volume discounts, and delivery terms. The partnership is not classified as a related-party transaction, and the promoter group of Bajaj Electricals holds no interest in SEAK.
SEAK, which posted operating income of EUR 7.29 million in the year ended December 2023, brings to the table cutting-edge lighting control technology. Bajaj Electricals, with a turnover of Rs 4,641 crore in FY24, aims to leverage this partnership to meet the rising demand for smart, energy-efficient tunnel lighting solutions across India.
Bajaj Electricals is a consumer appliances and lighting solutions company. Its business portfolio spans consumer products (appliances, fans, cookware) and lighting solutions (consumer and professional lighting).
On a consolidated basis, net profit of Bajaj Electricals declined 10.71% to Rs 33.36 crore while net sales rose 4.92% to Rs 1286.31 crore in Q3 December 2024 over Q3 December 2023.