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R. Ravikumar

Rs 150 crore earmarked for the project

MR GOPAL JIWARAJKA

Chennai May 8 Salora International Ltd is planning a foray into the retail space.

The Rs 900-crore company is planning a chain of retail stores to sell digital electronic products, including LCD and plasma TVs, mobile phones, gaming products, laptops and PDAs (personal digital assistants), Mr Gopal Jiwarajka, Managing Director, Salora International, told Business Line.

KSA Technopak has done the feasibility study for the project. "We are doing the final number crunching now and our plans would be concretised in a month's time," Mr Jiwarajka said.

The company has earmarked Rs 150 crore for the project, to start with.

Exclusive distributor

Salora International has national marketing and distribution alliances with some of the global brands.

It's an exclusive India distributor for brands such as BenQ-Siemens (mobile phones), Iriver (MP3 players), Fujitsu (IT products) and Teac (consumer electronics). It also distributes mobiles from Sony Ericsson, memory products from Moser Baer and IT products from Acer.That apart, Salora recently signed a pact with the car audio brand Fusion to distribute the latter's products in the country.

Talking to global brands

"We are in talks with three more global brands to distribute and market their products in the IT and telecom space," mentioned Mr Jiwarajka.

The company also manufactures colour TVs and three critical components for TVs such as fly-back transformers

deflection Yokes and loudspeakers for brands, including LG, Panasonic, Samsung, Sony, Onida and Videocon.

It has manufacturing facilities in Delhi and Noida.

However, distribution business is the company's mainstay as it accounts for 85 per cent of its turnover.

With offices in almost every State, Salora has a distribution network that covers 20,000 retailers pan-India.

For the year ended March 31, 2007, it posted a 51 per cent growth in profit after tax to Rs 16.3 crore from Rs 10.7 crore in the previous year.

Listed in both NSE and BSE, the stock closed the day at Rs 90.30 in the latter.

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