As part of its strategy to further penetrate the Indian market, Anchor Electricals plans to bring out a more diversified product line-up from its parent company Panasonic.
Interacting with Deccan Herald, Anchor Electricals Joint Managing Director Dinesh Aggarwal said that besides Panasonic’s unique solar photovoltaic (PV) modules under the ‘HIT’ brand, it has brought out fans and LED (light-emitting diode) bulbs which adheres to IEC (International Electrotechnical Commission) standards. A PV module is a packaged set of solar cells.
“We will strive to manufacture more products under the Panasonic brand that are suitable for the Indian market and aligned to our growth strategy within India and in the export markets. From the Panasonic stable, we have introduced Panasonic switchgear that offers best-in-the-class efficiency and low watt loss during operation and Panasonic Vision series of switches and accessories that feature screwless terminals,” he said. Screwless terminals allow wires to be held in place and released by merely pressing levers.
Anchor’s turnover last year was Rs 1,584 crore and is targeting FY 2015 topline of Rs 1,814 crore. The power segment contributes 90 per cent to the profits of Anchor.
Aggarwal said the company is expanding its product portfolio in the energy generation and energy management segments to expand its turnover. “Anchor has forayed into the energy generation segment with Panasonic’s energy efficient products. The company has also introduced polycrystalline and monocrystalline solar PV modules under the Anchor brand. The energy management product portfolio from Panasonic is currently under evaluation and may be introduced soon,” he said.
He said products marketed under the Panasonic brand are designed and manufactured locally, keeping the requirements of the Indian market.“There will be rapid expansion in the lighting portfolio with Panasonic LED, the UNO switchgear, and premium fans,” he said.
Anchor currently is a major pan-India player in the low voltage electrical construction materials business and aims at catering to all customer segments in its existing product categories. On the capex front, he said the focus is on scaling up its plants at Haridwar, Bhuj, and Daman. “Our company intends to invest about Rs 400 crore over a period of three years for capacity expansion, automation and quality enhancement at these manufacturing units,” Aggarwal said.
The company has also kicked off exports of products under Anchor & Panasonic brands in the Middle-East, Africa,and neighbouring countries in South Asia. “Since Anchor has just initiated exports last year, the share of exports in total revenues was below 5 per cent. We hope to double our exports this fiscal year,” Aggarwal said
On the distribution side, Anchor has also established its sales offices in tier-II and tier-III towns to get direct access to customers. “We plan to open 57 new offices this year. We also started organising consumer expos showcasing Anchor and Panasonic brands,” he said.