Anchor Electricals to drive up its distribution network

Anchor Electricals, part of Japan's Panasonic Corp, looks at over two-fold jump in revenues to become a Rs 5,000-crore company in the next five years through capacity ramp-up. The company will pump in Rs 150 crore this fiscal as part of its investment plan of Rs 400 crore in three years towards capacity expansion and new product launches.

Dinesh Aggarwal, Joint Managing Director, Anchor Electricals says: "We are aiming to be a Rs 5,000-crore company in the next five years. This fiscal, we will be around Rs 2,200 crore. Anchor Electricals is targeting a turnover of Rs 3,500 crore in 2017-18 and would cross the Rs 4,500 crore mark the following year. The company had a turnover of Rs 1,840 crore last fiscal, contributing up to 18 per cent of sales of Panasonic India.”

On steps taken to meet targets, he says: "We would strengthen our manufacturing and design capacity in terms of technicals and aesthetics and expand our distribution network."

Currently, the company has four manufacturing units at Daman, Kutch, Haridwar and Roorkee and offers over 3,000 products across various categories sold through 5,000 dealers and 4.5 lakh retail outlets in India.

Also, Anchor has in sight potential opportunities that are likely to flow from the government's plan to develop 100 smart cities. "Panasonic has worked on smart cities in Japan. We are taking a delegation from India to show the work there," Aggarwal added.

On investments, Aggarwal adds: "Last fiscal, we had invested Rs 120 crore and this fiscal, we would invest a further Rs 150 crore." Anchor is working on a plan to bolster its exports from India, with an overseas sales target of 10 per cent by 2017-18.