Socomec group eyes Rs 400 crore revenues from Indian ops

France-based power solutions provider Socomec Group is aiming at a Rs 400 crore revenue through its Indian subsidiary over the next two-three years as part of its foray into locally made UPS solutions.
The move to manufacture locally made UPS solutions was in the backdrop of the impact it had been facing due to the rupee depreciation against the US Dollar, Socomec Innovative Power Solutions, Managing Director, Olivier Tremouille said today.
"We are looking at Rs 400 crore revenues. In India there has been a good growth for us. It was Rs 95.64 crore in 2010. Last year, it was Rs 147.11 crore. We are expecting a 12 per cent growth in India this year...," he told reporters here.

Due "to the rupee depreciation against US dollar, there has been impact in all our products as we have been importing them from our facilities from France, Italy and China. But, with the locally made products, we are very confident in 2014," he said.
The company would currently source the parts for making the locally made UPS and assemble them at its facility in Gurgaon. The total capacity of the plant will be 500 units a year, he said.
According to him, the company has made investments of 2 million euros in India for manufacturing its products.
To a query, he did not rule out the possibility of forging partnership with Indian partner. "Sure. We are looking for some opportunity. We are looking for local UPS manufacturer".

Currently, the company would retail 80-200kVA for industrial customers through its 57 touch points present across India.