Hyderabad, Jan 11: LivFast, one of the leading power specialists in India, has launched an unique range of inverters with 25 per cent faster charging and batteries with 25 per cent extra battery back up, here on Friday.
SAR Group, which had sold its Luminous brand to Schneider Electric, has introduced inverters and inverter batteries and household solar segments under brands Livguard and Livfast.
Besides, Livfast , which is currently present in the automotive battery and E-rickshaw batteries segment, expecting to get Rs 2000 crore sales turnover in the current fiscal 2018-19 against Rs 1000 crore net sales in last fiscal, LivFast CEO Mr Gurpreet Singh Bhatia said at a press conference after the launch.
The total market size of battery, inverter and inverter battery was around Rs 25,000 crore, however, the inverter and Inverter battery space is Rs 15,000 crore market per annum and predominantly a duopoly and still with close to 50 per cent unorganized, he said.
In this segment, the company producing 19 models ranging from 100 AZ to 230 AZ, he said this launch was for the both Telugu states of Andhra Pradesh and Telangana and we are expected to make sale 5,000 units in this month through a strong network of 22 distributors and 3,000 dealers.
Though having de-growth in this segment due to 24x7 power supplying by some states including Haryana and Telangana, the company’s current market share was 15 per cent.
The company has invested Rs 250 crore for the plants in Himachal Pradesh and will invest more in the coming years to meet the demand, he informed and said the annual production of inverter batteries capacity of the plant was 18 lakh.
LivFast seeks to expand its product portfolio with stabilizers and solar-powered batteries wherein, the projected turnover of FY 18-19 is Rs 700 crore.
The Company plans to have around 25,000 outlets pan India by March 2019, he added. (UNI)