- July 16, 2018
- Mrinmoy Bhattacharjee
Syska wires & cables is targeting a revenue of Rs 500 crores in FY18-19: Rajesh Uttamchandani, director, Syska Group.
Mumbai: Homegrown LED lighting brand Syska Group has entered the wires and cables business. The company has roped in Bollywood veteran superstar Amitabh Bachchan as the brand ambassador for the product category, with campaigns to kick start on television screens very soon. It will initially foray into the western region and will later spread across the country.
Under the segment, the company will introduce flame retardant and flame retardant low smoke wires from size 0.75 sq mm to 6.0 sq mm in 90, 180 and 300 meters coil length. It plans to use its “extensive network of 600 distributors and over 1.1 lakh retailers across the country” to push the cable business, the company has said in a press statement.
“We can see exponential opportunities for wires & cables business in India. The household wire segment is a 12,000-crore market and the segment is expected to boom with a growing demand for power and light. This is further fueled by low penetration of organised players in the Indian market. We at Syska, are committed to bringing to India world class wires and cables that can cater to the masses. We will continue to contribute towards the Make in India initiative of the government and are proud to generate employment under Skill India initiative,” Rajesh Uttamchandani, director, Syska Group said.
With the aim to support the government’s initiative of ‘Make in India’, Uttamchandani informed that the company has made a further investment of Rs 75 crores to set up the fourth manufacturing plant in Rewari, Haryana. This will be used for manufacturing various types of wires and cables in terms of setting up the production facilities on 6 acres out of total 19 acres at Dharuhera-Rewari, Haryana, India. The area of the plant is approximately 1.50 lakh sft, which would employ an approximate average of 300 employees in the first phase. As all the latest state-of-the-art machinery is in place, the plant at present is manufacturing approximately 6-7 lakh coils a month. At full capacity, the plant would produce over 15 lakh coils a month. Syska wires and cables are targeting a revenue of Rs 500 crores in FY18-19
“The company will make an investment of 30 crores in 3 months towards aggressive marketing campaigns starting July 2018 for the launch of wires and cables business. The company aims to make Syska synonymous with wires and cables category like it is to ‘LED’. Syska wires and cables business aspire to establish a stronger foothold in the Indian market with aggressive marketing and sales strategy, bridging connect with the consumers at the right touch points. For this, the company signed several strategic tie-ups and will advertise through print and TV channels, theatre advertisements and mobile platforms, he added.
Syska wires & cables will also be offering an extensive loyalty and reward programme for the electricians and retailers alike. With a simple loyalty program for retailers and electricians to earn reward points on all the company’s wire & cable purchases. “It allows them to be recognised for their efforts and also earn some reward points on the way. The programme is designed as such which is easily achievable, redeemable and can be upgraded as you move upward. It is also combined with anti-counterfeit solution, to ensure that consumer always gets best of the quality and genuine product of Syska,” the company’s director said.
Syska Wires and Cables Features:
- Lead and Halogen Gas free
- RoHS Compliant
- Indo-European Technology for shock resistance
- Uniform power supply, 99.98% bare copper conductor
- Energy saving
- High heat resistance
- High current carrying capacity
- Anti-termite and anti-rodent