Lyte Master India Pvt Ltd, a wholly-owned subsidiary of Germany-based Lyte Master GmbH, has announced the launch of its LED light manufacturing facility here with an investment of around Rs 15 crore. The facility will have a capacity to manufacture around 50,000 units per product range per month.
James Palamuttem, chairman, Lyte Master India said the Chennai plant was equipped to manufacture LED-based ultra slim panel lights, along with tube lights, high bay lights and street lights. The company, in the initial year, would sell the product in the southern states of Tamil Nadu, Kerala and Karnataka, and later would expand operations to Maharashtra and Andhra Pradesh.
"We are expecting a turnover of Rs 50 crore this year and another Rs 200 crore during the year ending March, 2016. The Indian LED light market is currently around $20 million," he said.
