Panasonic expects Rs 12,000 cr business this fiscal

Consumer electronic maker Panasonic India is expecting to garner a turnover of Rs 12,000 in the current fiscal, helped by growth in its B2B and B2C segment.

The company said it expects its B2C businesses to contribute Rs 8,900 crore and B2B to contribute Rs 3,100 crore in the current fiscal.

"Panasonic has an aim of clocking Rs 12,000 crore revenue by FY2020 spurred by key strategic initiatives," Panasonic India President & CEO Manish Sharma said.

Panasonic India had recorded a revenue of Rs 10,300 crore last fiscal.

"In year ending, March 31 2019, Panasonic India recorded, wherein, the B2C business contributed Rs 7,920 crore and B2B had contributed 2,460 crore," he added.

Presently, in the consumer durable business, there is an equal split between appliances and electronics.

However, "moving forward, we will see an increased push in the appliances business. In the mid-term, we expect to see 65 per cent revenue of our consumer durable business, coming from appliances".

Panasonic expects to continue the present momentum and prominence and further increase its market share in the television segment, Sharma said.

"In the next 5 years, Panasonic expects to drive 25 per cent of its revenue from the solutions business in its B2B offerings. The diversified technology company is investing steadily across supply chain solutions in manufacturing, retail and logistics," he said.