By BizLED Bureau
Apr 4, 2016: The faucets and bathroom fixtures major, Jaquar and Co Ltd is now looking to extend its brand by stepping foot into LED lighting biz. The company, which previously saw about 80% of its income from faucets, plans to bring down the amount of its revenue to about 50% within the next four years.
The promoter and director of Jaquar & Company Private Limited, Rajesh Mehra said that in the next three to four years company’s revenue from lighting alone might be Rs 500 crore. Since the consumer section is same for electricity as well as water, lighting is merely a natural addition. Further, he added that the company is expecting to see revenue of over Rs 100 crore from lighting only during the fiscal period of 2016-17.
Lighting solutions to meet locally
While at present, the LED lighting is chiefly imported, however, in the future the company is looking to meet lighting solutions locally. Mehra said that the company has a 150,000 square metre industrialized plant in Manesar. Jaquar will increase it by adding 30,000 square metres at a price of Rs 150 crore within June, 2017 which will produce LED lights only. The plant will therefore, become the largest such plant across the globe.
By laying focus on energy preservation by introducing LED lighting, the company is funding the growth through internal accruals only. Out of the entire turnover of Rs 2,350 crore expected this financial year, Mehra said that Jaquar will contribute around Rs 2,100 crore, company’s value segment brand Rs 125 crore and another Rs 125 crore by Artize, the luxury brand of the company.
The group, which maintains to control 60% of the organised marketplace, besides bath fittings is present in varied segments such as sanitary ware, shower enclosures and water heaters.