V-Guard expands capacity in Uttarakhand
Kashipur factory to process 8500 tonne copper per annum
V-Guard Industries, the country’s premier electronic and electrical major, has announced the capacity enhancements of their cable factory in Kashipur, Uttarakhand today. The capacity enhancement is part of the company’s objective to strengthen their North and East India operations and through this; the company will now be able to cater to the increasing demand for V-Guard cables in these regions. The company had invested 24 Crores at Kashipur factory for the initially installed capacity of 3 lakh coils per month and with an additional capex of 16 Crores, the capacity is being doubled. With this new capacity, V-Guard aims to be one among the top four leading brands in India, representing quality and customer satisfaction with a pan India presence.
V-Guard Kashipur factory, equipped with state-of-the-art machinery imported from Germany and USA now has the capacity to produce 6 lakh coils per month.
Commenting on capacity expansion at Kashipur, Mr. Mithun Chittilappilly, Managing Director, V-Guard Industries Ltd, said, “This is a very important milestone for us. Through this expansion, our aim is to meet the increasing demand for V-Guard cables in the North and East India markets and to strengthen our footprints outside the periphery of southern markets. We also plan to venture into customer areas like institutional and project segments. With this capacity enhancement, we will be able to produce 72 lakh coils in Kashipur factory alone which can generate around 700 crores per annum. The total copper processing capacity of the factory will now be 8500 tonne per annum”.
The company’s turnover has increased three times from INR 450 Crores in FY’10 to INR 1350 Crores in FY ’13 largely due to venturing into new markets outside south India. This clearly highlights the growing market in the North and this enhancement plan will add to the future growth of the company on pan India basis. This capacity enhancement will also result in a 100% increase in the revenue for the company from Wires. With the current expansion plans, the company is planning to give special focus to specific regions in eastern and northern India.
About V-Guard Industries Ltd.
V-Guard Industries Limited is a Kochi based company, started in 1977 by Mr. Kochouseph Chittilapilly to manufacture Voltage stabilizers. What had its beginning in 1977 with two employees and a burning passion is now a force to reckon with in the Indian electric and electronic goods panorama. The company has since then established a strong brand name and aggressively diversified to become a multi-product company catering to the Light Electricals sector manufacturing Voltage stabilizers, Invertors & Digital UPS systems, Pumps, House wiring/LT cables, Electric water heaters, Fans, Solar water heaters and has also recently forayed into Induction cooktops and Switchgears.