Oct 10, 2016: Panasonic group company Anchor Electricals is looking at around Rs 5000 million sales from the LED segment by 2019 on the back of wider distribution networks and portfolio expansion.
The company is expanding its portfolio to commercial, hospitality, industrial space in the architectural and commercial luminaries besides the home category.
It launched today its brand new Panasonic LED luminaries for the Indian market and is aiming to have at least 2,000 dealers by FY 2018-19.
“We believe that by 2018, total lighting market would be around Rs 21,000 crore and LED would be 55 per cent of that. We would like to have at least 5 per cent share of that,” Anchor Electricals Joint Managing Director Dinesh Aggarwal told PTI.
Anchor Electrical posted sales of Rs 300 crore last fiscal from the lighting segment, including LED and fluorescent, with LED contributing around Rs 50 crore.
“Anchor has a very strong trade channel with standard products but the biggest growth would come from the professional luminaries selling to the projects, hospitality, commercial spaces etc,” Aggarwal added. Besides, the company has also plans to participate in the government’s smart cities project.
“Panasonic is already participating in some of these tenders. Going further, we would participate more aggressively because Panasonic has created smart cities in Japan. As a group, we would like to participate in the smart city project,” he said. He further informed that Panasonic has partnered technology major Cisco for one of such projects.
The company is also not averse to participate in some government schemes, in which LED lights are distributed on subsidised rates.
“We have our own certain quality standards. We would have to evaluate the cost structure and then only we would see whether we can participate in government’s schemes,” Aggarwal said. Panasonic is bringing design and aesthetics experience to its customers.
The company has designed ‘Neue Archi’ range of LED luminaries specially for the Indian market, which is equipped with advance thermal management technology, high UV and corrosion resistance properties.
He further added: “Presently, 60 per of sales is coming from the trade and 40 per cent from institutions but in future, in next five years the trend would be reversed.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)