Spelling out major expansion plans to meet the emerging challenges and enter the global markets, leading electrical equipment-maker Havells India on Tuesday said it had drawn up road map to double its revenue in the switchgear segment to Rs.1,800 crore and make a major foray into the Chinese market.
“Our focus is China, where we are entering in a big way. We are looking for a joint venture partner in China, for which our agencies are working. It is in the process. In the post-expansion phase, we plan to take the switch gear business from Rs.900 crore at present to Rs.1,800 crore in the next three years,'' Havells India President Sunil Sikka told reporters here. Mr. Sikka said the company had set up a new industrial switch gear plant at Sahibabad in Uttar Pradesh at an investment of Rs.50 crore.
He said the company expected its revenues from the industrial switch gear segment to double to Rs.400 crore in the next two years. The switch gear segment comprises domestic switch gear and industrial switch gear verticals. Its prominent industrial products include air circuit breakers (ACB) and moulded case circuit breakers (MCCB).
The company's total global revenue in the last fiscal stood at around Rs.5,600 crore, with its Indian operations contributing nearly Rs.3,000 crore.
Apart from Sahibabad, where the company produces high-end industrial switch gear, it has a facility in Faridabad manufacturing low-end industrial switch gear. At present, the company has six manufacturing facilities abroad.
It is also exploring possibilities to enter the small electric appliances segment.
“We are getting into garment care, food preparation and cooking appliances. The domestic market size for such products is nearly Rs.5,000 crore,'' Mr. Sikka said.
The company, which has 12 manufacturing plants in India, is looking to set up a plant at Neemrana in Rajasthan, for lighting fixtures.
“We are in the process of setting up a factory for lighting fixtures in Neemrana on a 10-acre plot,'' he said.
