Last Updated on November 3, 2023 by BFSLTeam BFSLTeam
The Bajaj Group, well-regarded for its reliability and excellence in India, serves as a shining example of business achievement. Deeply rooted in the Indian landscape, this prominent conglomerate has reached out extensively, impacting countless lives. Established by Jamnalal Bajaj, the Bajaj Group is recognised for its dedication to societal welfare, a value instilled by Mahatma Gandhi, a close associate of Jamnalal Bajaj.
Did you know that during World War II, Bajaj Sugar took the lead to become India’s first Ethanol producer, fulfilling the fuel requirements of the Indian military? Such remarkable intersections of trade and nation-building mark the Bajaj Group’s distinct history.
In this blog post, we’ll discover Bajaj Group’s dynamic past, notable achievements, and the wide range of its offerings and brands.
Table of Content
About Bajaj Group
| Parameter | Details |
| Founder | Jamnalal Bajaj |
| Industry Type | Diversified (From Automobiles to Financial Services) |
| Founded In | 1926 |
| Headquarters | Mumbai, Maharashtra, India |
| Key People | Rahul Bajaj, Rajiv Bajaj |
| Parent Company | Bajaj Group |
| Countries Present | Over 50 |
| Number of Employees | Approximately 36,000 |
Overview of Bajaj Group
More than a century ago, a visionary named Jamnalal Bajaj pioneered the idea that businesses can and should work for societal betterment. This wasn’t just about profits; it was about values and responsibilities. This vision was deeply rooted in the principle that collective welfare should always be prioritised over individual gain.
Successors, including Kamalnayan Bajaj and Ramkrishna Bajaj, took this torch forward, ensuring that the group’s growth never deviated from its foundational ethos. Under the current leadership of Mr. Rahul Bajaj, the conglomerate has witnessed remarkable expansion without losing sight of its commitment to society.
Today, the Bajaj Group isn’t just a conglomerate of 40 companies. It’s a testament to what businesses can achieve when they’re driven by a purpose beyond profit. Employing around 36,000 individuals, the group has diversified its offerings, ranging from motorised two and three-wheelers to home appliances, from wind energy solutions to special alloys, and from finance to insurance.
But to millions in India, Bajaj stands for something even more profound. It represents trust, dependability, and the joy that comes from owning a product that’s synonymous with quality. The phrase “Hamara Bajaj” is more than a slogan; it’s a sentiment that reflects the bond between the company and the people.
Moreover, to appreciate the vastness of the Bajaj legacy, one must delve into the Bajaj Heritage, an archive showcasing the journey of eight pivotal figures in the group’s history. From the freedom struggle to the Gandhian principles, from business ventures to societal commitments, this archive encapsulates it all, ensuring that future generations remain connected to their roots.
History of the Bajaj Group
1905:
Bachhraj Bajaj took the first step by setting up a Cotton Ginning factory in Wardha, Maharashtra. This marked the beginning of the Bajaj business journey.
1915:
Jamnalal Bajaj, inheriting the business mantle, opened an office in Bombay by the name ‘Bachhraj Jamnalal’, expanding the family’s foothold in the cotton industry.
1926:
The family business grew with the start of Bachhraj Factories Private Ltd., overseeing cotton ginning and pressing across Wardha and other parts of Maharashtra.
1927:
Broadening their horizons, the Bajaj family founded Bachhraj & Co. Pvt. Ltd., a testament to their growing enterprise.
1930:
Branching out into health, they formed Deccan Ayurvedashram Pharmacy Ltd., which was later renamed Bajaj Consumer Care Ltd. by 1940.
1931:
Jamnalal Bajaj tapped into the sugar sector with the establishment of Hindustan Sugar Mills Ltd., which was rebranded as Bajaj Hindusthan Sugar Limited in 1988.
1933:
The merger of Batala Engineering Co. Ltd. (BECO) with Mukand Ltd. further fortified the Bajaj business spectrum.
1937:
After initial challenges, Lala Mukand Lal established Mukand Iron & Steel Works in Lahore. On Mahatma Gandhi’s counsel, Jamnalal Bajaj took over in 1939, renaming it to Mukand Ltd. in 1989.
1938:
Under Kamalnayan Bajaj’s supervision, Radio Lamp Works Ltd. was acquired by the Bajaj family in 1954.
1939:
The inception of Mukand International Ltd. added another dimension to the group’s diverse portfolio.
1946:
Venturing into electronics, the Bajaj family took control of Matchwell Electricals India Ltd., which later merged with Bajaj Electricals in the following years.
1951:
Joining forces with ELMI, a consortium of four European companies, the Bajajs co-founded Hind Lamps Ltd., marking their international collaboration.
1952:
Kamalnayan Bajaj introduced the travel business with ‘Transport Everywhere’, later named Hind Musafir Agency. Simultaneously, Radio Lamp Works Ltd. merged with the newly formed Bajaj Electricals Ltd., enhancing its market stature.
1960:
Reinventing its identity, Bachraj Trading Pvt. Ltd. transformed into Bajaj Auto as a public limited company.
1967:
Sharda Sugar & Industries Ltd. was integrated into Bajaj Hindusthan Sugar Ltd. in 1990, emphasising their commitment to the sugar industry.
1975:
In collaboration with Western Maharashtra Development Corporation Limited, Bajaj Group launched Maharashtra Scooters Ltd., which was subsequently listed on prominent stock exchanges.
1987:
Diversifying into finance, Bajaj Auto Finance Ltd. was initiated, specialising in hire purchase and lease finance for Bajaj customers.
1998:
Enhancing its steel presence, Mukand Ltd. secured a stake in Hospet Steel Ltd., boosting its manufacturing capabilities.
2000:
Bajaj Finserv announced two major joint ventures in the insurance space: Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd.
2007:
Bajaj Finserv Ltd. was carved out from Bajaj Auto Limited, concentrating on financial services. That same year, Bajaj Electricals Limited joined hands with Starlite Lighting Ltd.
2008:
A significant restructuring saw Shishir Bajaj and his son Kushagra diverging from the group, taking Bajaj Hindustan Sugar and the Consumer Care Business with them.
2018:
Bajaj Electricals incorporated Nirlep Appliances, a renowned Non-stick cookware brand. Additionally, the Bajaj Group’s market capitalisation touched ₹3.77 lakh crore, ranking it as India’s fourth-largest business group.
2019:
Further streamlining their investments, Maharashtra Scooters Limited was absorbed as a subsidiary of Bajaj Holdings and Investment Limited.
Major Subsidiaries of the Bajaj Group
| S. No. | Name | Sector | Market Cap (in Crores) |
| 1 | Bajaj Finance Ltd | Consumer Finance | ₹ 4,87,231 |
| 2 | Bajaj Finserv Ltd | Insurance | ₹ 2,61,928 |
| 3 | Bajaj Auto Ltd | Two Wheelers | ₹ 1,42,961 |
| 4 | Bajaj Holdings and Investment Ltd | Asset Management | ₹ 76,111 |
| 5 | Bajaj Electricals Ltd | Home Electronics & Appliances | ₹ 12,357 |
| 6 | Mukand Ltd | Iron & Steel | ₹ 2,397 |
| 7 | Hercules Hoists Ltd | Industrial Machinery | ₹ 1,021 |
Bajaj Finance Ltd
This subsidiary holds a market value of ₹ 4,87,231 Crores and primarily focuses on consumer finance. Bajaj Finance Ltd is the Bajaj Group’s stronghold in the financial world, offering a wide array of consumer financing solutions. From flexible personal loans to diverse credit card options and strategic business and home loan packages, their reach extends across both rural and urban India.
Bajaj Finserv Ltd
With a market value of ₹ 2,61,928 Crores, Bajaj Finserv Ltd dominates the insurance sector. They offer a comprehensive range of insurance products, spanning life to general insurance. Their policies stand out due to comprehensive coverage, competitive pricing, and an efficient claim process. Furthermore, they also delve into asset management and the ever-growing consumer durable loan sector.
Also Read: Bajaj Finserv Limited Q2 Results
Bajaj Auto Ltd
Representing the group in the automobile sector, specifically in two-wheelers, Bajaj Auto Ltd holds a market value of ₹ 1,42,961 Crores. It’s a name that resonates with resilience and advanced design. Their presence is felt strongly both in domestic and international arenas, boasting iconic models like the Pulsar and Chetak. Their emphasis remains firmly on innovation and precision.
Also Read: Bajaj Auto Limited Q2 Results
Bajaj Holdings and Investment Ltd
This subsidiary is the investment and asset management arm of the group, with a market value of ₹ 76,111 Crores. They play a crucial role in managing the Bajaj Group’s varied investments, ensuring a balanced portfolio that promotes consistent growth. Their strategic approach targets both established sectors and budding startups.
Also Read: Bajaj Holdings and Investment Q2 Results
Bajaj Electricals Ltd
Valued at ₹ 12,357 Crores in the market, Bajaj Electricals Ltd stands at the crossroads of innovation and practicality. Their portfolio includes an extensive range of products, from indispensable kitchen appliances to cutting-edge lighting systems, all promising quality and durability.
Mukand Ltd
A leader in the specialised steel production arena, Mukand Ltd has a market value of ₹ 2,397 Crores. Their expertise lies in producing high-quality stainless steel, alloy steel, and custom specialty steel products. Catering to a broad spectrum of industries, their steel plays a foundational role in many pivotal infrastructural projects.
Hercules Hoists Ltd
With a market valuation of ₹ 1,021 Crores, Hercules Hoists Ltd is dedicated to revolutionising industrial equipment. Their range includes advanced cranes, precision-engineered hoists, and lifts, ensuring that various industries operate at optimal levels while prioritising safety.
Major Acquisitions or Joint Ventures by Bajaj Group
Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd
In 2000, Bajaj Finserv embarked on a landmark partnership with Allianz SE, a European financial services company. This led to the formation of two separate entities: Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. The venture enabled Bajaj to offer a broad range of insurance products and solutions to Indian consumers, making them a formidable presence in the insurance sector.
Nirlep Appliances:
In 2018, Bajaj Electricals made a significant acquisition of Nirlep Appliances, a renowned non-stick cookware maker. Established in 1968, Nirlep was a pioneer in introducing non-stick technology to India and was one of the first domestic companies to export to Europe. This acquisition enhanced Bajaj Electricals’ portfolio in the kitchen appliances segment, underscoring its commitment to offering comprehensive solutions to Indian households.
Mukand Sumi Special Steel Limited
In 2018, Mukand Sumi Special Steel Limited was established as a collaborative venture between Mukand Limited, a company under the Bajaj Group, and Sumitomo Corporation of Japan. This venture aimed to set up a state-of-the-art steel rolling facility. The collaboration leveraged Sumitomo’s global reach and Mukand’s domestic prowess, aiming to produce high-quality steel products for various industries.
Starlite Lighting Ltd
In 2007, Bajaj Electricals became a strategic partner with Starlite Lighting Ltd. This association significantly enhanced Bajaj Electricals’ lighting solutions portfolio. Starlite, already a notable player in the lighting industry, benefited from Bajaj’s extensive distribution network, resulting in a synergy that benefitted both parties and consumers alike.
Products/Brands Under Bajaj Group
Bajaj Pulsar Motorcycles
Introduced by Bajaj Auto in 2001, the Bajaj Pulsar bikes changed the two-wheeler scene in India. These bikes are known for their sporty look, strong performance, and trustworthiness. For many, the Pulsar isn’t just a bike but a reflection of young energy and dreams.
Bajaj Chetak Electric Scooter
With roots in the famous petrol-run Chetak, this electric version is Bajaj Auto’s entry into the world of electric vehicles. Launched in 2019, it blends a traditional look with new-age features, offering a green way to travel without missing out on style or practicality.
Bajaj Ceiling Fans
Offered by Bajaj Electricals, Bajaj Ceiling Fans stand for long-lasting performance and energy-saving. Designed with the Indian weather in mind, they promise effective air movement, making them popular in countless homes.
Bajaj Irons
Part of the Bajaj Electricals lineup, Bajaj Irons helps make ironing clothes easy. With a user-friendly design and features like heat adjustments and smooth sole plates, they make ironing straightforward and quick.
Bajaj Mixer Grinders
Essential for any kitchen, Bajaj Mixer Grinders assist in grinding, blending, and juicing. They come with strong motors, sharp blades, and various jars, ensuring food preparations are hassle-free.
Bajaj Allianz Insurance
A collaboration between Bajaj Finserv Limited and Allianz SE, Bajaj Allianz provides a wide range of insurance products, including life, health, car, and travel. Their focus on customers and new solutions has made them a top choice for insurance in India.
Bajaj Platini
Bajaj Platini is a line of top-tier home and kitchen appliances. Products like water purifiers, ovens, or juicers under this brand showcase modern technology in a sleek design, balancing looks with function.
Bajaj Avenger Motorcycles
Another gem from Bajaj Auto, the Avenger series offers bikes ideal for long rides. Their design, comfortable seating, and strong engine make them a preferred choice for those who love road trips and biking.
Conclusion Of Bajaj Group
The Bajaj Group has solidified its presence in the Indian market, offering everything from renowned motorcycles like Pulsar to essential home appliances. Its impressive footprint, which includes a market capitalisation of ₹8.55 lakh crores, highlights the trust and respect it has garnered over the years. With an eye on the future, Bajaj is also steering towards sustainable solutions like electric vehicles, reflecting its visionary approach. As the group continues to grow and adapt, it promises to not only meet but exceed the expectations of its vast consumer base, keeping its rich legacy alive.
