Bajaj Electricals shares surge over 13% after board gives nod to acquire home appliances maker Morphy Richards

Bajaj Electricals post market hours on Tuesday informed exchanges that its board of directors has given its consent to a proposal for the acquisition of Morphy Richards and its related intellectual property rights in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka for a total consideration of ₹146 crore from Glen Electric.

"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 said in a regulatory filing.

Bajaj Electricals added that the transaction will be subject to negotiation and execution of definitive agreements between the parties and the receipt of necessary statutory and regulatory approvals.

Morphy Richards is a known consumer appliances brand which makes hand blenders, steam irons, ovens, coffee makers, juicers mixers among other products.

Bajaj Electricals Q1 earnings

Bajaj Electricals net profit, on a standalone basis, in the first quarter of current financial year fell sharply by 94% to ₹1.64 crore compared with ₹28 crore in the same period last year.

Its revenue from operations declined 8% to ₹1,059 crore from ₹1,152 crore in the year-ago period.

The company also posted weak operational performance as its operating profit also known as EBITDA dropped 62% to ₹28 crore and its EBITDA margin contracted by 370 basis points to 2.6% from 6.34% in the same period last year.

As of 9:36 am, Bajaj Electricals shares traded 12.12% higher at ₹647.15, outperforming the NIFTY50 index which was down 0.4%.