Amara Raja Electronics on Friday said it planned to enter into manufacturing of consumer electronics business, besides investing Rs. 30 crore in the next financial year to expand operations in the UPS category.
“We are planning to [make] foray into consumer electronics goods and personal mobility solutions. We would manufacture washing machines and air conditioners, besides convergence devices,” said Amara Raja Electronics Director Jayadev Galla here after launching its ‘Tribal’ range of UPS inverters for home users.
“We have invested Rs. 30 crore in this fiscal to expand the capacity of our UPS inverter unit near Chittur (Andhra Pradesh) to ten-lakh UPS units. We will be investing another Rs. 30 crore in the next fiscal to expand our business,” Mr. Galla added. The company registered revenues of Rs. 75 crore last year and hopes to close the current fiscal at Rs. 100 crore. Mr. Galla also said that the company also planned to roll out cheaper UPS for customers under the name of ‘Tribal Ace’.