Bajaj Electricals expects the LED segment to account for around half of its lighting business revenue by 2017-18.
"In FY 2017-18, around 50 per cent of our revenue of lighting would come from LED segment," Bajaj Electricals Ltd Chairman and Managing Director Shekhar Bajaj told PTI.
"This year, we are expecting a business of Rs 1,300 crore from the light business, in which around Rs 450 to 500 crore would come from the LED segment," he added.
Last fiscal, the company had total sales of Rs 1,100 crore from the lighting segment, in which LED contributed around Rs 300 crore.
The company provides both indoor and outdoor LED-based lighting solutions.
"Although the quantity is increasing but because of competition and new technology, prices of LED is going down. In last two years, LED prices has gone down one-third," he said.
He said the company will outsource manufacturing of some LED products to remain competitive in the segment.
"We would manufacture some of them and then outsource also as the range is quite vast and it is not possible to manufacture all of them," he added as per the PTI report.