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| MIC Electronics bets big on IPL |
| B Krishna Mohan / Chennai/ Hyderabad Feb 17, 2010, 00:00 IST |
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City-based MIC Electronics, maker of LED lights and large screens, is expecting good orders during the ensuing IPL season.
The company has already received orders worth Rs 20 crore from its clients in this regard, according to its chief executive officer K Ramana Rao.
MIC's giant screens are used for replays on the ground while the perimetre screen is used for advertisements along the boundary line. These apart, several entertainment houses install large screens.
Speaking to Business Standard, Rao said the LED large screen segment in India was picking up. “We anticipate volumes to pick up this year. Large screens are increasingly replacing vinyl billboards,” he said.
Though there was a decline in orders from the international market on account of the slowdown, things seems to be looking up now.
As for the rental business, Rao said, “Marriages, social and religious events, political gatherings and sports meets are the main growth drivers.” It has 25 screens on rent and plans to add another 50 screens on a long-term fixed rental this year.
MIC’s direct clients include event management and transport companies, outdoor advertising agencies and sporting arenas.
The company is now focusing on the Commonwealth Games to be held in October and the Football World Cup in South Africa. For both these events, it expects orders worth Rs 220 crore.
At present, the production capacity of MIC is 14,400 modules per annum. Last year, it sold 6,865 modules and is targeting to sell 8,500-8,800 this year. “There is no capex plan in the display segment this year. However, we will invest in developing a series of LED luminaries and base for production,” Rao said.
The company recently launched its 4mm pixel resolution 110-inch LED TV. It has bagged a contract to change the conventional lights in Rajahmundry to LED lights and has also completed pilot runs in the US and Australia, Rao said.
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