Pune-based Finolex Cables Limited will soon venture into high voltage cable (HVC) manufacturing. | |
| The company is adding an extra unit to its plant in Urse in Pune for the purpose. Commissioning of the HVCs is expected to begin by March 2007. |
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| The company is eyeing a considerable chunk of the Rs 600-crore-plus HVC market in India through this venture. |
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| "So far, we had limited ourselves to manufacturing light duty cables of up to 1.1 kilovolts with 35 to 40 per cent share of the organised market. However, after surveying the market, we felt it would be a good idea to increase the range to include HVCs of up to 132 KV. These will be manufactured at our plant in Pune. We have also started manufacturing electrical switches and compact fluorescent lamps, which we released in the market last month. These products have been doing exceedingly well," said G K Banerjee, vice-president, marketing, Finolex. |
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| He was speaking on the sidelines of the fifth Finolex Alok Suraksha Samman Awards in Kolkata. |
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| The CFL market in India is estimated at Rs 500 crore and above with a 30 per cent annual growth. Finolex expects to capture 10 per cent of this market within a year. |
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| On the other hand, Finolex expects to sell switches worth Rs 50 crore and above. The organised market for switches in India is estimated at Rs 1,500 crore. |
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| The company is pushing its products through its widespread distribution network across the country. |
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| While it has over 1,200 distributors for its cables, for CFL and switches, it aims at having between 400 and 500 distributors within this year, Banerjee said. |
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| Finolex will also venture into European markets from the coming year. So far, its exports were limited to countries in Africa and the Middle East. |
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| The exports turnover for the company is estimated at Rs 120 crore. |
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