The 'Morphy Richards’ brand rights are being acquired from Glen Electric, which is a part of the Ireland-based Glen Dimplex Group.
The territories for which the brand rights have been acquired include India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka. The total cost of the aforementioned acquisition is Rs 146 crore.
"This transaction will be subject to negotiation and execution of definitive agreements between the parties and the receipt of necessary statutory and regulatory approvals, as applicable,” the company said in a statement.
Bajaj Electricals, a part of Bajaj Group, makes consumer products (appliances, fans, lighting) and executes EPC contracts (illumination, transmission line towers and power distribution).
The company had reported a sharp 96.76% drop in consolidated net profit to Rs 0.91 crore in Q1 FY26, compared to Rs 28.11 crore in Q1 FY25. Revenue from operations declined 8.07% year-on-year (YoY) to Rs 1,059.23 crore for the quarter ended 30 June 2025.