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Orient Electric Limited, part of the diversified $2.4-billion CK Birla Group, is eyeing the emerging market for smart lighting solutions with its wide range of innovative products and aims to gain market share.
The company has recently launched a range of Emergency LED lighting solutions that provide backup lighting for up to 4 hours during power outages. The range includes LED bulb, LED Batten, LED Recess Panel and Bulkhead that can be used as regular lighting source and during the power cuts, they automatically switch to emergency mode to light up, thereby enabling normal work activities to continue.
Puneet Dhawan, Executive Vice-President, Orient Electric, told BusinessLine , “Given the problem of power cuts disrupting normal life at home and small businesses without a battery back up, these emergency LED lights — bulbs, battens, recess panels and bulkheads — make life easy.”
The best part of these fittings is they are similar to the LED lights that we currently use and fit into the same sockets. However, they switch on to emergency mode once electricity supply is disrupted and provide up to 4 hours of back up. And then they revert to normal operation when the electricity is restored and get recharged during the normal course of usage, he said.
“Interestingly, they can be used as a portable light source as well, and serve as emergence lamps,” he said.
While the company closed last financial year (2019-2020) with a turnover of ₹2,062 crore, the lighting business is about ₹570 crore and has a Compounded Annual Growth rate of 18 per cent over the past 4-5 years as against the industry growth of about 5-10 per cent. While the lighting industry is estimated to be about ₹12,000 crore, the home and retail lighting market is estimated at ₹5,500 crore.
“With a wide rage of products, we are looking at gaining market share. There has also been perceptible shift in consumer behaviour towards smarter products including fans lighting and other home appliances,” he said.
Expansion plan
On expansion plans, Dhawan, said, “The government’s PLI scheme is a big step to boost local manufacturing, reduce import dependence and increase exports, and will help India become a global hub for electronics manufacturing. The PLI scheme for manufacturers of LED lights will be formally launched in the coming FY.”
“We have since long lagged behind in electronics component and associated LED lights manufacturing. The scheme will promote manufacturing in LED lighting industry and help domestic manufacturers. We will plan our next moves once this comes out,” he said.
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