Havells India Limited, a $1.4 billion leading Fast Moving Electrical Goods (FMEG) company is targetting a total revenue of Rs 500 crore by 2016 in Karnataka.
It also plans to expand its reach to tier II and III cities and towns to increase retail network, Havells India Limited Vice-President and Head of Switchgear Segment A V Jagadish told PTI. The company has a strong presence in Karnataka with a network of over 400 dealers and distributors in more than 60 cities across the state, Jagadish said.
The country's organised domestic switchgear market was estimated to be Rs 2,100 to Rs 2,200 crore per annum for FY15-16 and Havells continues to retain its No.1 position in the category with market share of about 28 per cent, he said.
Asked whether the company was planning to add another manufacturing unit to its existing 12, Jagadish said it was satisfied with the present number of plants and would not make any difference in the input costs as there were adequate warehouses across the southern states.
On tapping global market, Jagadish said the company was optimistic about its foray in Latin America market, which is having better prospects than European markets. "We are optimistic about tapping Latin American market . we are already there but things are better there than European markets," he said.
