Crompton Greaves Consumer Elec aims No. 2 slot in lighting
Crompton Greaves Consumer Electricals is eyeing the number two slot in the lighting space in the country as it expects a good traction from the LED segment from retail and b2b institutional sales.
Besides, the company is also looking at opportunity in the street lighting segment, where the conventional lights are gradually changing to LED-based.
"In the lighting space, we are aiming to be a strong number two player soon," Crompton Greaves Consumer Electricals CEO Mathew Job said.
He further said: "We are one of the fastest growing companies in the lighting segment and gained share in last couple of years. We have doubled our share in LED segment..." However, Job did not share the timeframe in which the company would achieve the position and said "currently it's difficult to say who is number two and three as there are several companies including Crompton and we want to be a clear number two in the segment with gaps with others..." Presently, Philips Lighting is the leading company in the segment, followed by makers as Havells, Bajaj Electricals etc.
According to Electric Lamp and Component Manufacturers' Association, the Indian lighting industry is of around Rs 22,000 crore and LED constitutes around 45 per cent share of that.
"In b2c, we would have right portfolio and enhance distribution. In last one year, our market share growth has also been driven by availability in more stores," he said.
The company, which was strong in the street lighting segment, would continue to maintain its lead in the space.
"We would do a lot of things in commercial lighting as offices etc where traditionally, we were not very active and would build our strength to compete others," Job said.
In FY2016-17, Crompton Greaves Consumer Electricals had a revenue of Rs 3,975.90 crore in which lighting contributed around 1,000 crore.
While, in the fan segment, the company is focusing on the premium range and maintain its leadership in the domestic pump category.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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