Usha International Targets Rs 100 Crore Export Turnover

Usha International, part of the Rs 2,500 crore Siddharth Shriram group, plans to record an export turnover of Rs 100 crore this fiscal, Sunil Wadhwa, managing director of Usha International, said.

The company also plans to increase the overall turnover from Rs 410 crore to Rs 500 crore.

Though the company has interests in fans, air-conditioners, sewing machines, light-weight pumps, engines and water management products, the exports comprise only fans, auto components, chemicals and engines.

The company has signed a joint branding agreement with Hunter Fan Company -- one of the largest ceiling fan manufacturers in the world -- in March this year.

The agreement was for marketing the fans manufactured by Hunter Fan Company, which are priced between Rs 9,900 and Rs 19,900, in India and neighbouring countries.

Usha International will also launch a premium series of fans, branded Usha Hunter, during mid-September.

Wadhwa said, "This is the first time that Hunter has agreed to market its fans under a joint branding, anywhere in the world."

The company is endeavouring to serve as a one-stop-shop for the households and is set to make a slew of launches this year.

"We plan to launch 30 new models this year," Wadhwa said. The objective is to tap the gaps in product portfolio, he added.

Recently, the company has launched a new range of ceiling fans called Racer. Priced at Rs 930, the brand will take on the unorganised sector, which accounts for around 50 per cent of the Rs 1,400 crore fans market. Prior to this launch, the lowest-priced fan from its portfolio was at Rs 1,300.

Usha International also plans to embark on an aggressive marketing drive for Daikin range of air conditioners. The company was appointed as distributor for the range in West Bengal and east India.

"Last year has been spent in appointing and training a dedicated sales staff and putting world-class processes in place," said Wadhwa.

The company is all set to launch 28 models of split air-conditioners before the advent of the next season.

Elaborating on the company's plans in West Bengal, Wadhwa said the company plans to launch at least two showrooms in Kolkata this year. Currently, the company has 60 showrooms in the country.