Anchor Electricals eyes Rs 5,000 cr revenue by 2020

Anchor Electricals, part of Japan's Panasonic Corp, is looking at over 2-fold jump in revenues to become a Rs 5,000-crore company in the next five years through capacity ramp-up.
The company will pump in Rs 150 crore this fiscal as part of its investment plan of Rs 400 crore in three years towards capacity expansion and new product launches.
"We are aiming to be a Rs 5,000-crore company in the next five years. This fiscal, we will be around Rs 2,200 crore," Anchor Electricals Joint Managing Director Dinesh Aggarwal told PTI.
Elaborating, he said Anchor Electricals is targeting a turnover of Rs 3,500 crore in 2017-18 and would cross the Rs 4,500 crore mark the following year.

The company had a turnover of Rs 1,840 crore last fiscal, contributing up to 18 per cent of sales of Panasonic India, he added.
On steps taken to meet targets, he said: "We would strengthen our manufacturing and design capacity in terms of technicals and aesthetics and expand our distribution network."

Currently, the company has four manufacturing units at Daman, Kutch, Haridwar and Roorkee and offers over 3,000 products across various categories sold through 5,000 dealers and 4.5 lakh retail outlets in India.
Aggarwal said the company has adopted a two-pronged strategy to cater to both mass market and premium segment customers while receiving support from the parent Panasonic in terms of technology and product range.

"We are working under two brand strategies. For the mass market, we are using our Anchor brand and for the premium niche market, we are using Panasonic brand," he said.
Also, Anchor has in sight potential opportunities that are likely to flow from the government's plan to develop 100 smart cities.
"Panasonic has worked on smart cities in Japan. We are taking a delegation from India to show the work there," Aggarwal added.
On investments, Aggarwal said: "Last fiscal, we had invested Rs 120 crore and this fiscal, we would invest a further Rs 150 crore."
Anchor is working on a plan to bolster its exports from India, with an overseas sales target of 10 per cent by 2017-18.

"We are expanding in African, South Asian and Middle East markets. We are expecting to have Rs 350 crore by 2018 from this," he said. Currently, exports contribute around Rs 80 crore to Anchor's total revenues.