Please tell us about the company's journey so far
We are an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry. Our manufacturing capabilities are supported by a large sales and distribution network with a pan-India presence. We supply our products through a network of authorised dealers or distributors to institutional, non-institutional and corporate customers. We supply switchgears, lighting equipment and wires and cables, primarily through our pan-India authorized dealer network, which comprised of over 2,000 authorised dealers or distributors as on December 31, 2015, from our warehouses located in 21 states and union territories in India that are managed by our carrying and forwarding agents. In addition, we supply our products to power utilities, which primarily include supply of meters under direct contractual arrangements to electricity boards and power distribution companies, as well as through project contractors. Further, we supply our portfolio of products to developers of residential and commercial building projects, original equipment manufacturers (OEMs) and to industrial customers through a mix of direct sales and supply through our authorized dealer network.
Can you please brief us about the growth of the power and electric equipment market in coming years?
The electric equipment industry has witnessed significant growth, growing at 9.4 percent from fiscal 2014 to fiscal 2015 and is expected to grow at a CAGR of 8-12 percent during 2016-20. Of the total electric equipment industry, T&D equipment accounted for 72 percent of the total market. Government of India has implemented several initiatives such as private participation in the transmission segment and development of the National Power Grid to boost growth in the T&D industry. Additionally, the GoI has announced various plans, including recasting 100 cities in India with an estimated expenditure of over Rs. 3,000 billion under its smart cities programme, the ‘Housing for all' initiative and by facilitating the domestic production in the Indian electric equipment industry to reach an output of USD 100 billion by balancing exports and imports, pursuant to the Indian Electrical Equipment Industry Mission Plan 2012-22 of the Department of Heavy Industries and Public Enterprises, Government of India (Mission Plan 2012-22). (Source: Frost & Sullivan Report)
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