Electricals

Govt extends quality order deadline for electrical items to March 2026

The government on Tuesday said it has extended the implementation timeline for the mandatory quality control order (QCO) on certain electrical appliances by one year, till March 2026 following stakeholder consultations. The QCO will be applicable to all electrical appliances intended for household, commercial or similar applications with rated voltage not exceeding 250 Volt for single-phase appliances and 480 Volt for other appliances including direct current (DC) supplied appliances and battery-operated appliances. The Department for Promotion of Industry and Internal Trade (DPIIT) said that the order would not apply to electrical appliances which fall under the scope of any other QCO. The horizontal QCO on safety of household and commercial electrical appliances was discussed on May 15 with stakeholder consultation meeting, where Commerce and Industry Minister Piyush Goyal had acknowledged concerns raised by the industry and had agreed to consider the request to extend the ...

Demand pick up key for further gains in consumer electricals space

Fans registered low-single digit growth, while kitchen appliances faced low demand, and low LED prices adversely impacted lighting

Atlantia Electricals files IPO papers with Sebi, aims to raise Rs 400 cr

Atlanta Electricals Ltd, manufacturer of power, auto and inverter duty transformers, has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The Gujarat-based company's IPO is a combination of a fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of 38.1 lakh equity shares by a promoter and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday. The offer includes a reservation of equity shares for subscription by eligible employees. Besides, the company may consider raising Rs 80 crore in a pre-IPO placement round. If such placement is undertaken, the size of the fresh issue will be reduced. The company proposes to utilize the proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes. According to a Crisil report, India's transformer market is driven by

Order book, margin gain expectations to drive gains in Siemens

Large order inflow is likely over next 12-24 months such as 4-5 high voltage direct current (HVDC) electric transmission, locos or train sets among others

Robust summer demand across fans, ACs to drive gains for Havells India

Management says Havells aspires to be among the top-5 players in large kitchen appliances (market size around Rs 12,000 crore) where it has made a foray

Crompton Greaves Consumer Electricals Q4 net profit rises to Rs 133.43 cr

Crompton Greaves Consumer Electricals Ltd on Thursday posted a 1.43 per cent increase in consolidated net profit to Rs 133.43 crore in the March 2024 quarter. The company reported a consolidated net profit of Rs 131.55 crore a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing. During the quarter under review, consolidated revenue from operations was Rs 1,961 crore over Rs 1,790.96 in the year-ago period. The electric consumer durables (ECD) segment clocked revenue of Rs 1,515.98 crore as compared to Rs 1,325.74 crore in the same period a year ago. Lighting products revenue in the quarter was marginally higher at Rs 281.12 crore, up from Rs 278.57 crore in FY23. On the other hand, the revenue from Butterfly, which it acquired last year, was lower at Rs 163.9 crore in the fourth quarter as compared to Rs 186.65 crore in the year-ago period, the filing said. Total expenses were higher at Rs 1,808 crore from Rs 1,637.3 crore in the corresponding

Bajaj Electricals Q3 results: Net profit slumped nearly 40% to Rs 37.36 cr

Bajaj Electricals' total revenue fell 6.2% to Rs 1228 crore, marking the third consecutive quarter of decline

Govt rolls out mandatory quality norms for electrical accessories

The government has issued mandatory quality norms for electrical accessories such as switch-socket-outlets and cable trunking to curb the import of sub-standard goods and boost domestic manufacturing of these goods. The Electrical Accessories (Quality Control) Order, 2023 was issued in this regard by Department for Promotion of Industry and Internal Trade (DPIIT) on January 1 this year. Under this order, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The order will come into force from six months of the date of publication of the notification, DPIIT said. It added that "nothing in this order shall apply to goods or articles manufactured domestically for export". In order to safeguard the MSME sector, relaxations have been granted to comply with the order. Small industries have been given additional nine months time, while 12 extra months will be given to micro enterprises. DPIIT in consultation with BIS and

Finolex Cables net profit rises 39% to Rs 132.2 cr in Q1, revenue up 19%

Electrical and communication cable manufacture Finolex Cables on Monday reported a 39 per cent rise in its net profit at Rs 132.2 crore in the April-June quarter. The company had reported a net profit of Rs 95.6 crore in the trailing 12-month period. The Pune-headquartered company in a statement said its revenue for the quarter rose 19 per cent to Rs 1,204.3 crore from Rs 1,015.7 crore recorded in the corresponding period of FY23. In volume terms, its flagship electrical wires rose 29 per cent, while power cables increased 3 per cent. Within the communication cables segment, volume of metal-based products improved 17 per cent during the quarter and optical fiber cable volume grew 50 per cent. Volume growth in new products within the FMEG (fast moving electrical goods) segment was marginal due to continued inflationary pressures affecting consumer sentiment, the company added. The expansion plans under which it is setting up a preform facility, OFC capacity expansion and E-beam ...

T D Power Systems posts 43% jump in net profit at Rs 35 crore in Q4FY23

T D Power Systems on Tuesday posted over 43 per cent jump in its consolidated net profit at Rs 35.35 crore in the March 2023 quarter year-on-year, mainly on the back of higher revenues. The company had recorded a consolidated net profit of Rs 24.66 crore in the quarter ended on March 31, 2022, a BSE filing showed. Total income rose to Rs 256.31 crore in the quarter from Rs 235.59 crore in the same period a year ago. The consolidated net profit in the fiscal 2022-23 also rose to Rs 96.81 crore from Rs 70.64 crore in the previous financial year. Total income rose to Rs 892.05 crore in FY23 from Rs 814.13 a year ago. The company said its board has recommended a final dividend of Rs 0.50 (50 paise) per equity share of face value of Rs 2 each for the financial year ended March 31, 2023. The said dividend, if declared at the ensuing annual general meeting (AGM) of the company, will be paid within 30 days from the date of AGM.

Marine Electricals rallies 5% after it bags order from Goa Shipyard

The company will supply shaft generators, main switch boards, distribution boards, and associated systems with OBS for PCV Project from Goa Shipyard

Jitendra Agrawal new CEO of Surya Roshni's lighting, consumer durables biz

Agrawal joins Surya from Luminous Power Technology Pvt Ltd, where he was senior vice president and responsible for the company's home electrical business

Motherson's local wiring biz better placed than its global sales entity

Demand, rising content per vehicle, return ratios key investment arguments for Motherson Sumi Wiring

Hope of demand recovery drives gains for Havells' stock

Margin performance will be an additional trigger going ahead

Consumer electricals firm V-Guard Q2 net up by 15% to Rs 59 crore

Consolidated net revenue from operations was Rs 907.40 crore, up 46% from a year ago. Firm says a spike in input costs partly impacted gross margins

BHEL to procure goods worth Rs 3k crore from small biz annually: Official

Bharat Heavy Electricals Ltd will procure Rs 3,000 crore of products from small businesses annually as part of the government's efforts to encourage them, a senior official said on Friday.

Finolex Cables targets Rs 500 cr revenue from new vertical by fiscal 2022

The company is eyeing at least Rs 500 crore revenue from its new consumer-facing electrical accessories business by the next fiscal.

Voltas impresses street, scores over peers with strong show in Sep quarter

Better than expected performance, market share gains in room ACs improve earnings outlook

Durables shore up CG Consumer Electricals December quarter performance

Lighting segment was a drag but is expected to see an improvement

Fiem Industries to set up LED lights manufacturing plant in Bahrain

For this purpose, it has formed a JV with VKL Group, promoted by Dr Varghese Kurian, NRI businessman