Our mission is to provide the latest and the best technology product in the field of Switchgears, Metering solutions, Lighting and Wires& Cables.
Our Future Strategies
We intend to expand our product range with focus on value added products by utilizing our research and development capabilities to develop new products, particularly lighting equipment, which has the highest profitability margin amongst the products that we manufacture and supply, and manufacturing value added products across our product verticals such as specialty wiring and smart meters and penetrate all segments of the market, ensuring our presence in each rung of the value chain, capturing the growing demand for LED lamps and increasing our penetration in the market for metering solutions, particularly for smart meters.
We intend to reduce our working capital cycle and rationalize our indebtedness by implementing measures to reduce our working capital cycles and improve our inventory management, including through enhancing our brand image to facilitate faster movement of our inventory and increasing the proportion of our revenue from sale to authorized dealers by strengthening our existing dealer network and increasing acceptance of our brand and products across product verticals in the domestic and global markets.
We plan to expand our business and capture growth opportunities through initiatives of the Government of India such as private participation in the transmission segment and development of the National Power Grid to boost growth in the T&D industry and various plans, including recasting 100 cities in India, the 'Housing for all' initiative and by facilitating the domestic production in the Indian electric equipment industry. (Source: Frost & Sullivan)We believe that these initiatives of the Government will drive the demand for domestic and industrial electric equipment, including for electric equipment that we manufacture. Further, increasing urbanization in India coupled with rising household income levels have resulted in progressively increasing demand for residential real estate, and the capacity addition in the real estate sector is expected drive the entire value chain of the electrical industry and will provide a base for significant product and service innovations in the future. Also, the 'Housing for all' initiative of the Government of India seeks to build two crore homes by 2022, which is expected to give a thrust to the electrical equipment industry in India, and affordable housing is expected to promote innovation into low cost and affordable electrical solutions. (Source: Frost & Sullivan)Additionally, the UDAY Scheme of the Government of India would result in added emphasis on improvements in operational efficiency including through mandatory use of smart metering solutions, upgradation of transformers and meters, implementing energy efficiency measures like efficient LED bulbs, agricultural pumps, fans and air conditioners, amongst others. These measures are expected to reduce the average AT&C Loss from around 22% to 15% and eliminate the gap between ARR and the ACS by fiscal 2019 (Source: Frost & Sullivan).The proposed expansion in the city gas distribution ("CGD") network is expected to provide significant opportunities for project developers, pipeline manufacturers, technology providers, consultants and regulators and meter manufacturers, among others (Source: Gas in India 2015: Marketplace, E&P, LNG, Pipelines & CGD dated September 2015, prepared by India Infrastructure Research). We are also exploring opportunities for products and services related to renewable energy, particularly solar energy.
We propose to increase our geographical reach and expansion of addressable market through expanding our network of authorized dealers or distributors, presence with institutional and corporate customers including OEMs and developers of high end residential and commercial project developers in India. We also plan to create a niche customer base for our products by increasing our focus on increasing our visibility with such institutional customers including panel builders and developers of such residential and commercial projects. Further, we seek to utilize our present network of authorized dealers to increase sale of our products across a larger customer base and cover more customer segments.We also seek to enter new international markets, primarily in the Middle East, Africa and the south-east Asian region.
We propose to strengthen customer base with focus on increasing customer spend on our products by increasing the volume of sale through authorized dealers throughvarious promotional activities, including product launches, electrician meets, exhibitions aimed at creating awareness for our products amongst our authorized dealers and through advertisements in the print and electronic media to increase acceptance of our products amongst our end-consumers. We also plan to introduce products at different price points to increase the attractiveness of our products to end-consumers across market segments.
We plan to continue to enhance our brand through innovative and focused marketing initiativesthrough our promotion and marketing efforts. Our marketing strategy involves increasing our visibility through increased advertising in print and social media, television campaigns and increasing our one-to-one interactions with our authorized dealers and end-consumers.