SME Times News Bureau | 24 Nov, 2017
Consumer electrical
and electronics major V-Guard Industries Ltd on Thursday said it registered close
to 9 percent growth in the first half of the current financial year and expects
the second half to be better.
"Nine percent growth was less but second half can be better," said
Ramachandran Venkataraman, Director & Chief Operating Officer, V-Guard told
IANS here.
He said the Q2 was better than Q1 and things were getting closer to normal. He
exuded confidence that normalcy will return by Q4 as things were slowly getting
better post-demonetisation and post-GST.
Things were also improving real estate and other sectors on which consumer
electrical and electronics segment depend. "We hope the next year will be
better," he said.
The Kochi-based company had revenues of Rs 2,100 crore during 2016-17,
registering a growth of 15 percent. However, demonetisation and GST and the
impact on other sectors, especially on real estate, impacted the sales during
the current financial year.
Following the success of its smart water heater, V-Guard on Thursday launched
the nation's first-ever smart inverter.
Equipped with nine smart features, the inverter can be controlled through an
app on any smartphone. The app allows consumer to control the performance
levels based on the appliance's capacity.
Ramachandran said that the smart inverter also help consumers to complete a
task disrupted by power outage.
The cost of smart inverter is 20 percent higher than the traditional one. The
company expects that 30 percent of all its inverters in the next financial year
will be smart inverters.
He said the rollout of smart features for the entire range of inverters
including solar-based inverters will be completed by March-April next year.
V-Guard plan to sell 4.5 lakh inverters during the current fiscal.