Companies

For Godrej Locks, semi-urban market is the key

V. Rishi Kumar (Byline) Hyderabad | Updated on June 08, 2011 Published on June 08, 2011




Godrej Locks, part of the diversified Godrej & Boyce Manufacturing Co Ltd, is set to expand its footprint in towns with less than one lakh population, where there is poor penetration of locks.

It will also focus on increasing exports to new markets.

The Executive Vice-President and Business Head, Godrej Locks, Mr Shyam Motwani, said beginning with anchor brand in 1897, the company has now become the largest lock maker in the country commanding a market share of over 15 per cent (about Rs 375 crore to Rs 400 crore) in the Rs 2,500-crore industry.

While 45 per cent of the country's lock market is taken up by the organised sector players, the rest is unorganised from clusters such as Aligargh and Saurashtra. Lately, 5-6 per cent has been taken up by imports from China, he said.

Mr Motwani told Business Line, “The company currently caters to SAARC, West Asia and some African countries with exports contributing about 6-7 per cent of business. We are looking at growing this to over 10 per cent by the end of the current financial year,” he said.

A LOCK TOUGH TO BREAK

This is one lock you will find impossible to break open, says Mr Motwani.

Launching i-secure Mechatronix in South India, he explained it combines the latest mechanical and electronic locking technologies in a single key that cannot be duplicated.

It comes with embedded technologies and ideal for both commercial and residential applications.

“Priced at Rs 7,500, the lock opens only after verification of the mechanical identity and electronic encryption. An inbuilt programme enables one to delete lost key combination from the system. We plan to export it to other markets,” he said.

Published on June 08, 2011
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