Hyderabad, Aug 9 : Mumbai-headquartered Goldmedal Electricals, a leading home-grown fast moving electrical goods (FMEG) company, which entering into fans industry, will set up up fans manufacturing plant here with an investment of Rs 125 crores.
The proposed plant which will come up within a year in 2 acres land, will produce all ranges of fans including ceiling and exhaust Fan and the capacity was 1.2 million units per year, said Kishan Jain, Director of the company in a press conference here on Thursday.
"We are a technology-driven company and are constantly innovating to bring industry-first products and solutions that meet the ever evolving needs of our consumers, he said, we fully support the Government of India’s ‘Make in India’ initiative and have set up several state-of-the-art manufacturing units across the country to manufacture switches and systems.
We have three state-of-the-art manufacturing units across India - One each in Bhiwadi (Rajasthan), Vijayawada (Andhra Pradesh), and Mumbai (Maharashtra, he said currently, Goldmedal manufactures almost every electrical device that is used in a modern household, including modular switches and accessories, home automation systems, luminaries and LED lights, wires and cables, doorbells, PVC pipes, DBs, MCBs.
The company’s revenue was expected to cross Rs 2000 crore in the next fiscal against Rs 1400 crore in last year, he said the company’s growth was between 40-50 per cent every year and Overall, Goldmedal Electricals has 15 – 18 per cent market share in the electrical industry in India.
Goldmedal Electricals has established a strong presence in Andhra Pradesh and Telangana, with the company having 25 to 30 per cent market share in these two markets, he added.
Praveen Jain, Director, Goldmedal Electricals said, Goldmedal has a strong focus on design and R&D, and we have been able to diversify into various categories and create products that are considered path-breaking in the Indian market.
Bishan Jain, Director, Goldmedal Electricals said, we have established a nationwide presence with over 20,000 direct and indirect dealers across the country. The app called ‘Dhan Barse’ has been custom-developed by Paytm exclusively for Goldmedal and aims to bring together all of Goldmedal's business partners and influencers. (UNI)