NEW DELHI, Dec 14: Electronic products maker for lighting industry, NTL Electronics, is aiming revenues up to Rs 1,500 crore in next three years apart from venturing into new product segments as automotive electronics, set top boxes etc.
NTL Electronics, a contract manufacturer of CFL (compact fluorescent lamp) and LED (light emitting diode) for leading brands, will be venturing into retail for LED from this month through its own sales network, a top company official said
“We are targeting a revenue of Rs 500 crore from our LED business from NTL Lemnis in next three years and from NTL Electronics, we are looking at a revenue of close to Rs 700 crore to Rs 1,000 crore (during the period),” NTL Group MD Arun Gupta told PTI.
The company had a revenue base of Rs 750 crore in FY 2013-14.
NTL electronics has a JV partnership with Netherlands -based Lemnis Lighting ‘NTL Lemnis’ that sells a range of professional lighting solutions for various sectors such as mining, industrial, solar in India, Europe and Africa.
Over NTL’s performance in the current fiscal Gupta said:” The industry overall appears to be in stress and the reason are yet not known. Offtake of CFL’s are coming down, we see some dip in our revenue.”
As per strategy, NTL is currently focusing on developing LED products to be among the leading player in the segment.
Apart from that, the company is mulling options to foray into segment such as automotive electronics, set top boxes manufacturing etc.
“Our focus at NTL is LED where we are increasing products, customers and market. Apart from that we are also adding new electronic products other than lighting,” Gupta said.
According to him, the total estimated size of LED market in India is around Rs 3,000 crore and NTL has a small share in it as its main focus remained on exports.
NTL has seven manufacturing facilities in India at Noida, Roorkee and Dehradun and is expanding it further.
The company is presently exporting LED products to Europe and South Africa and is now looking for new markets in Middle East, African nation and Western Europe.
“In the LED segment, we are earning 40 per cent revenue from exports and rest 60 per cent from domestic market,” he said adding that domestic share would go up as the company is going in for domestic retail sales.
On being asked whether NTL is considering any IPO in the near future, Gupta said: “We would look for a right opportunity to go public, but I feel that it would not be before 3 years”.
Started in 1993, NTL says its electronic products are present in several CFLs made in India. (PTI)
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